Bitcoin's Rally Falters as Stock Markets Drop, with Altcoins Tumbling Harder | Alexandria

Bitcoin's incredible winning streak has come to an end, with the world's biggest cryptocurrency falling from fresh 90-day highs of $21,564. At the ...

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Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert's DCG empire

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Submitted January 19, 2023 at 10:43PM by fadufadu https://ift.tt/YxNWHeD https://ift.tt/0RFWis1

CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.

CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.

Note: CEO (is a catch all term I am going to use for anyone in the roll of leadership for a crypto currency coin). It does NOT apply to the creator who made it and stepped away.

1. The CEO can manipulate the price by their actions. For example, Alg0rand CEO, who seems to be utterly hated by the community, has been trolling people on Twitter in a fashion that surmounts to market manipulation. A while ago there was a coordinated pump and dump of LTC; fake news websites and fake news on Twitter claimed that Wal-Mart was going to use LTC. Within hours the price pumped 100% and then got dumped. Alg0rand CEO (I have no proof other than what I observed) tweeted "NIKE". Her audience assumed that there was a Nike partnership of sorts. That was not the first time she has trolled her audience and it certainly won't be the last.

2. My second point will be Fantom. When one of the developers who was highly regarded by the community left, the price of the coin tanked wiping out entire fortunes which was exasperated by the general market tanking. If the departure of a single important person can tank the price, how can it withstand any other challenges and obstacles in the future?

3. The price action of the coin, if it has a CEO, will depend heavily on "partnerships" and whatever else marketing the "CEO" and company promise/plan on. If they don't deliver, good luck.

4. The future of the coin will be beholden to the CEO, rather than the fundamentals offered by the coin itself. If the coin does not speak for itself and it needs a CEO, it is going to be catastrophic for investors. Just look at Safem00n. This coin has a CEO and has done nothing but manipulate and gaslight his community of investors, not to mention reports of stealing from the community.

Now contrast coins with a CEO against those without one. They are not exposed to any and all of the FUD that a CEO can have on the "coin". For example, XMR, LTC, BTC, ETH. They are down because the market is down. They will recover, if they have already not recovered, because of the fundamentals that the coin offers and is build upon, which coins with a CEO will either lack or will be overshadowed by the actions or lack there of of the CEO of that coin.

Anyway, I am a day trader and have washed my hands of ANY coin with a CEO. I got burnt by FTM, ALG0, and a few other coins with a CEO. While the coins without one, or the CEO exited humbly and allowed the community to takeover development, for example, have the most positive reception and have resulted in the best returns for me.

Though this is a CMV post and I want my position challenged, if no one can, I hope this can serve as a warning to those newly in Crypto.

Submitted January 18, 2023 at 09:31PM by SquatDeadliftBench https://ift.tt/quT6rMl https://ift.tt/vRVFfPG

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shopify strike bitcoin - PiPiADS

WIB Metro heard the Bitcoin kulit 22 conference in the Bitcoin lightning never seem to be getting closer. Thomas adoption pasar companies started to ...

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Ripple CEO: XRP lawsuit resolved by June, SEC conduct 'embarrassing'

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Submitted January 18, 2023 at 09:25PM by Harold838383 https://ift.tt/s3bjMu5 https://ift.tt/vRVFfPG

Thailand Issues New Regulations on Custodied Cryptocurrencies

The Securities and Exchange Commission (SEC) of Thailand has issued new regulations on custodied cryptocurrencies. Companies offering crypto custody services are now required to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets,” the regulator described.

Thai SEC’s New Crypto Rules

Thailand’s Securities and Exchange Commission (SEC) announced Tuesday that it has issued new rules on the “management of digital wallets for custody of digital assets and keys.” The new regulations went into effect on Jan. 16.

The Thai SEC explained that businesses that provide custody services for clients’ digital assets must:

Establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets.

They must also have a “policy and guidelines” in place for the management of “digital wallets and keys as well as communication to clarify such policy, action plans and procedures, work supervision, and internal control to ensure compliance with the policy,” the SEC noted.

The regulator detailed that the businesses are additionally required to develop a “policy and procedures for designing, developing and managing digital wallets as well as creating, maintaining and accessing keys or other related information appropriately, securely and safely.”

Furthermore, crypto custody service providers must establish a “contingency plan in case of occurrence of any event that may affect the management system of digital wallets and keys,” the Thai SEC detailed. “This includes laying out and testing action procedures, designating responsible persons, and reporting the event.”

The securities watchdog further stated:

An audit of system security is also required as well as digital forensic investigation in case of any event affecting the security of systems related to digital asset custody, which could cause significant impacts on clients’ assets.

Existing crypto service providers prior to the new regulations taking effect must fully comply with the new rules within six months from the effective date of the new regulations.

The Thai SEC has been ramping up its investor protection efforts relating to crypto. Earlier this month, the regulator launched Crypto Academy to help investors learn about digital assets before investing.

What do you think about the Thai SEC’s new rules on the management of custodied cryptocurrencies? Let us know in the comments section below.

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Zebedee and Viker launch Bitcoin Chess and Bitcoin Scratch with crypto rewards

Gaming payment processor Zebedee and mobile game studio Viker have launched two rewarded games, Bitcoin Chess and Bitcoin Scratch.

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CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.

CMV: Any crypto currency coin that has a "CEO" is a ticking financial timebomb and antithesis to what crypto is supposed to represent.

Note: CEO (is a catch all term I am going to use for anyone in the roll of leadership for a crypto currency coin). It does NOT apply to the creator who made it and stepped away.

1. The CEO can manipulate the price by their actions. For example, Alg0rand CEO, who seems to be utterly hated by the community, has been trolling people on Twitter in a fashion that surmounts to market manipulation. A while ago there was a coordinated pump and dump of LTC; fake news websites and fake news on Twitter claimed that Wal-Mart was going to use LTC. Within hours the price pumped 100% and then got dumped. Alg0rand CEO (I have no proof other than what I observed) tweeted "NIKE". Her audience assumed that there was a Nike partnership of sorts. That was not the first time she has trolled her audience and it certainly won't be the last.

2. My second point will be Fantom. When one of the developers who was highly regarded by the community left, the price of the coin tanked wiping out entire fortunes which was exasperated by the general market tanking. If the departure of a single important person can tank the price, how can it withstand any other challenges and obstacles in the future?

3. The price action of the coin, if it has a CEO, will depend heavily on "partnerships" and whatever else marketing the "CEO" and company promise/plan on. If they don't deliver, good luck.

4. The future of the coin will be beholden to the CEO, rather than the fundamentals offered by the coin itself. If the coin does not speak for itself and it needs a CEO, it is going to be catastrophic for investors. Just look at Safem00n. This coin has a CEO and has done nothing but manipulate and gaslight his community of investors, not to mention reports of stealing from the community.

Now contrast coins with a CEO against those without one. They are not exposed to any and all of the FUD that a CEO can have on the "coin". For example, XMR, LTC, BTC, ETH. They are down because the market is down. They will recover, if they have already not recovered, because of the fundamentals that the coin offers and is build upon, which coins with a CEO will either lack or will be overshadowed by the actions or lack there of of the CEO of that coin.

Anyway, I am a day trader and have washed my hands of ANY coin with a CEO. I got burnt by FTM, ALG0, and a few other coins with a CEO. While the coins without one, or the CEO exited humbly and allowed the community to takeover development, for example, have the most positive reception and have resulted in the best returns for me.

Though this is a CMV post and I want my position challenged, if no one can, I hope this can serve as a warning to those newly in Crypto.

Submitted January 18, 2023 at 09:31PM by SquatDeadliftBench https://ift.tt/quT6rMl https://ift.tt/vRVFfPG

FTX says $594 million in crypto has been hacked from its exchanges since November collapse

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Submitted January 18, 2023 at 12:11AM by Any-Assignment6022 https://ift.tt/05Zrkq4 https://ift.tt/O0iEGjH

Bored Ape Yacht Club Is Trying to Revive NFTs With Atomic Poop

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Submitted January 17, 2023 at 07:11PM by TheGreatCryptopo https://ift.tt/GZh75La https://ift.tt/O0iEGjH

Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil

Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted.

Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade

Iran’s central bank is considering the possibility of creating, with Russia’s participation, a digital token to facilitate trade in the Persian region, according to a report quoting the head of the crypto industry organization in the Russian Federation.

The coin could be accepted as a means of payment in international settlements, the Executive Director of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), Alexander Brazhnikov, told the business daily Vedomosti and detailed:

It is assumed that the token will be backed by gold, it would be a stablecoin.

Stablecoins are cryptocurrencies, the value of which is usually pegged to state-issued fiat currencies or precious metals. While Russian authorities have been postponing the adoption of comprehensive regulations for bitcoin and the like, with the Bank of Russia opposing their legalization in the country, a proposal to permit the use of gold-backed stablecoins was circulated last year.

Cryptocurrencies Should Be Regulated First, Member of Russian Parliament Says

The largest digital coin backed by physical gold according to the issuer, PAX Gold, currently ranks 74th in terms of capitalization, with a market cap of over $511,000,000. It is an ERC20 token based on the Ethereum blockchain.

The news of the negotiations has been confirmed by Anton Tkachev, a member of the Committee on Information Policy, Information Technology and Communications of the State Duma, the lower house of Russian parliament. However, he remarked that the matter would be actively discussed at the state level only after cryptocurrencies are fully regulated.

Russia and Iran, both under Western economic and financial sanctions, have been looking to crypto assets as a means to circumvent restrictions. In August, Iran placed its first official import order using cryptocurrency while Russia considers legalizing cross-border crypto payments. The two nations are also developing central bank digital currencies (CBDCs), the digital ruble and the crypto rial.

Do you think Iran and Russia will eventually issue a gold-backed stablecoin? Share your thoughts on the subject in the comments section below.

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That's Right: "Useless" cryptocurrencies are being discussed at the World Economics Forum (WEF) right now and a guide released to encourage the development of the future crypto-based economy

"The Tokenized Future Economy" is part of the WEF this year running from January 16th to the 20th. weforum.org formally announced the topic back on January 2nd. The key messages from their annoucement were 1) "2022 was a terrible year for cryptocurrencies, with the loss of $2 trillion in market value.", 2) "We could now see the handover of crypto technology and blockchain infrastructure to more regulated and established institutions" and 3) "Cryptography and blockchains will continue to be integral parts of the modern economic toolkit".

The WEF published a guide to encourage development of the crypto-based future economy. The abstract to the guide starts "Collaboratively governed and code-driven, decentralized autonomous organizations (DAOs) are engaged in nothing less than an experiment to reimagine how we connect, collaborate and create. Although DAOs today manage billions of dollars’ worth of assets, engage millions of contributors and operate across industries as diverse as finance and philanthropy, basic questions regarding operations, governance, law and policy are only just beginning to be addressed by policy-makers, regulators and entrepreneurs."

Leaders in economics are messaging that cryptocurrency is here to stay - that a tokenized economy will consume our future financial interactions whether you and I want them to or not. That blockchain will make public and private documents immutable. Adoption of digital assets is underway.

Submitted January 17, 2023 at 03:57PM by coinsRus-2021 https://ift.tt/0mt4NQZ https://ift.tt/O0iEGjH

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How A Weaker Dollar Is Benefitting Gold & What's Next For Bitcoin | TD Ameritrade Network

He also notes what's next for bitcoin (/BTC). Tune in to find out more about the stock market today. Futures. 18 Jan 2023.

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That's Right: "Useless" cryptocurrencies are being discussed at the World Economics Forum (WEF) right now and a guide released to encourage the development of the future crypto-based economy

"The Tokenized Future Economy" is part of the WEF this year running from January 16th to the 20th. weforum.org formally announced the topic back on January 2nd. The key messages from their annoucement were 1) "2022 was a terrible year for cryptocurrencies, with the loss of $2 trillion in market value.", 2) "We could now see the handover of crypto technology and blockchain infrastructure to more regulated and established institutions" and 3) "Cryptography and blockchains will continue to be integral parts of the modern economic toolkit".

The WEF published a guide to encourage development of the crypto-based future economy. The abstract to the guide starts "Collaboratively governed and code-driven, decentralized autonomous organizations (DAOs) are engaged in nothing less than an experiment to reimagine how we connect, collaborate and create. Although DAOs today manage billions of dollars’ worth of assets, engage millions of contributors and operate across industries as diverse as finance and philanthropy, basic questions regarding operations, governance, law and policy are only just beginning to be addressed by policy-makers, regulators and entrepreneurs."

Leaders in economics are messaging that cryptocurrency is here to stay - that a tokenized economy will consume our future financial interactions whether you and I want them to or not. That blockchain will make public and private documents immutable. Adoption of digital assets is underway.

Submitted January 17, 2023 at 03:57PM by coinsRus-2021 https://ift.tt/0mt4NQZ https://ift.tt/O0iEGjH

Cramer sees bullish signs starting to emerge in the stock market, just not in the same places as before. Time to sell!

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Submitted January 16, 2023 at 10:46PM by Harold838383 https://ift.tt/MNdIrQa https://ift.tt/3ZhiMzG

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Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Recent Highs

Bitcoin consolidated on Jan. 16, as U.S. markets closed in celebration of the Martin Luther King Jr. Day holiday celebration.

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Tanzanian Central Bank Adopts ‘Phased and Risk-Based Approach to Adoption of CBDC’

After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks and controls associated with issuance, distribution, counterfeit and usage of currencies.”

Finding the Right CBDC Technology

The Bank of Tanzania (BOT) announced on Jan. 14 that it had “adopted a phased, cautious and risk-based approach to adoption of CBDC [central bank digital currency].” The bank also said it will continue with its efforts aimed at finding “a suitable and appropriate use and technology for issuance of Tanzanian shillings in digital form.”

According to a statement on the bank’s website, the BOT said it chose a more cautious approach after spending months researching and exploring the pros and cons of issuing the digital currency. During this period, the BOT said it found that other central banks had adopted the same posture, while six countries had chosen to cancel their CBDC adoption “mainly due to structural and technological challenges in the implementation phase.”

As reported by Bitcoin.com News in May 2022, the Tanzanian central bank said it planned to launch its CBDC because this had become a trend among central banks. In addition, the bank said the digital currency would be “a safe[r] alternative because many people are being affected by cryptocurrency speculators.”

However, fears the CBDC could disrupt the country’s financial system eventually forced the BOT, which signaled its readiness to launch in the first half of 2022, to adopt a more conservative approach.

Risks Associated With CBDCs

Meanwhile, during the research phase, the Tanzanian central bank revealed that it considered the type of CBDC to be issued, the models for issuance, the form of the digital currency, as well as the “degree of anonymity or traceability.” The statement also suggested the bank had given more attention to associated risks.

“Particular attention also is paid to risks and controls associated with issuance, distribution, counterfeit and usage of currencies,” the central bank said.

In the statement, the BOT said once the research is complete, the Tanzanian public will be given information on the way forward and this will likely include a roadmap for the “transition to CBDC adoption.”

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What are your thoughts on this story? Let us know what you think in the comments section below.

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Davos 2023: Scaramucci's SkyBridge bets on $35k bitcoin, targets credit | WTVB | 1590 AM

“If bitcoin could trade back to $35,000, SkyBridge is going to have an amazing year,” Scaramucci told the Reuters Global Markets Forum in Davos, ...

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Cramer sees bullish signs starting to emerge in the stock market, just not in the same places as before. Time to sell!

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Submitted January 16, 2023 at 10:46PM by Harold838383 https://ift.tt/MNdIrQa https://ift.tt/3ZhiMzG

Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime

The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary Fund, the monetary authorities in Egypt have pledged not to intervene in currency markets.

Flexible Exchange Rate Regime

Just a few months after plunging by more than 15% versus the U.S. dollar, the Egyptian pound tapped a new low of more than 32 units per greenback on Jan. 11. According to a Reuters report, the pound’s latest depreciation has prompted some analysts to question the extent to which the central bank wants the pound to fall.

As reported by Bitcoin.com News in October 2022, the pound’s official exchange rate versus the dollar fell from just under 20 units per dollar to 23.09 per dollar after Egyptian monetary authorities agreed to abandon the fixed exchange rate regime. In return, Cairo would receive a $3 billion financial package from the International Monetary Fund (IMF).

Following the currency’s latest fall, some Egyptian analysts quoted in the Reuters report believed the pound had reached its lower limit. Others like Farouk Soussa of Goldman Sachs said it is still difficult to conclude that the pound versus the dollar exchange rate had reached an equilibrium.

“When portfolio investors start to come back in, that is when the market will have judged equilibrium. But there is no direct way of observing equilibrium,” Soussa reportedly said.

Monica Malik, an economist at the Abu Dhabi Commercial Bank said the pound’s latest plunge alone does not guarantee that investors will return. The economist said clearing the foreign exchange backlog may be one step that reassures investors. However, this requires new USD liquidity and according to Malik “there is currently no visibility where this liquidity will come from.”

Meanwhile, in the IMF’s Egypt staff country report, the global lender revealed that the government in Cairo had promised not to intervene in currency markets. As per its agreement with the global lending institution, Egyptian monetary authorities would only intervene in cases of excessive volatility.

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