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Submitted October 21, 2022 at 09:41PM by bingorunner https://ift.tt/p8GNLSA https://ift.tt/Qc3sY42
Current Bitcoin Price
Saturday, October 22, 2022
Will Bitcoin See A Repeat Of November 2018 - NewsBTC
According to CryptoQuant analysis, the Bitcoin price has been in a bear market for 124 days and could plunge to $14.7k.
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Friday, October 21, 2022
Sam Bankman-Fried says “the clearest way to help protect investors is to provide transparency and prevent scams.” While he has been dumping on retail for time. Ironic.
Lets go through a few of the tokens SBF and his friends at FTX have dumped on retail, and go through some of FTXs shady deals.
Big Data Protocol
This token once acquired 10% of all DeFi TVL in a single weekend, with over $6B in total value locked. ~$1B of the TVL belonged to Alameda, who dumped it relentlessly on plebs.
From $114M mcap down to just $581K today.
The next one is one I'm sure many of us know of or the very least have heard of it. Stargate.
The Alameda team sniped the $25M auction in the first block, and claimed they won’t be selling for “at least” three years. A short time after they secretly sent 8.4M STG to FTX & Binance. From $4.14 down to $0.42 today.
In early 2021, Alameda reached out to Reef for a large investment at a 20% discount Reef agreed, sending $20M worth to Alameda, which was immediately sent to Binance Then, they asked for an additional $60M which the team denied. Alameda then threatened to remove Reef from FTX
Credit to https://twitter.com/CroissantEth/status/1583279221853794304
Submitted October 21, 2022 at 01:26AM by Far-Scholar9028 https://ift.tt/luaIGXe https://ift.tt/Qc3sY42
Bitcoin (BTC) and Ethereum (ETH) are up for Some Serious Price Corrections
Bitcoin (BTC) and Ethereum (ETH) investors turn to the presale superstar The Hideaways (HDWY) for stability.
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Japan to Relax Cryptocurrency Listing Rules
The Japan Virtual and Crypto Assets Exchange Association (JVCEA) plans to allow crypto trading platforms to list coins without going through a lengthy screening process. “We hope the latest measure will help revitalize Japan’s crypto assets market,” said the vice chairman of the association.
Relaxing Listing Rules for Cryptocurrencies
The Japan Virtual and Crypto Assets Exchange Association (JVCEA) is planning to loosen crypto listing rules to make it easier for trading platforms to list cryptocurrencies, Bloomberg reported Wednesday, citing a document it has seen.
The association plans to allow trading platforms to list crypto tokens without going through a lengthy screening process unless the tokens are new to Japan’s market. The relaxed rules could take effect as early as December, the publication conveyed, adding that the documents outlining the changes were recently distributed to member firms.
JVCEA Vice Chairman Genki Oda, who is also the CEO of cryptocurrency exchange Bitpoint Japan, confirmed the document to the publication. He believes that the JVCEA could also scrap pre-screenings for cryptocurrencies new to Japan and tokens issued through initial coin or exchange offerings by March 2024.
Oda noted:
We hope the latest measure will help revitalize Japan’s crypto assets market.
The JVCEA is a self-regulatory body that governs crypto exchanges operating in Japan. The organization works closely with Japan’s top financial regulator, the Financial Services Agency (FSA), to ensure its rules are in compliance with the country’s regulations. The group currently has 33 members who have started handling crypto assets, its website shows.
Oda said that over 50 cryptocurrencies are currently being traded in Japan partly due to quicker listing screenings, noting that fewer than half were traded about two years ago.
Under the JVCEA’s new rules, crypto exchanges will be able to list tokens within 30 days of reporting their listing plans and coin assessments. Trading platforms will be required to report events associated with listed coins, such as hard forks, to the JVCEA every three months.
The new rules expand on the “Greenlist” which the JVCEA introduced in April to allow exchanges to list the most common tokens faster. The association will monitor for any “inappropriate” crypto tokens and may ask member firms to stop offering them.
Binance is reportedly seeking a license to enter the Japanese crypto market after exiting it four years ago. The trading platform’s renewed interest in Japan is due to the Japanese government’s easing regulatory approach to crypto and substantial potential for user growth.
What do you think about Japan relaxing cryptocurrency listing rules? Let us know in the comments section below.
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MicroStrategy's Saylor hails Bitcoin an 'economic engine' set to become a 'freedom machine'
MicroStrategy executive chairman Michael Saylor has extended his praise for Bitcoin terming the flagship crypto as a channel towards freedom.
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bitcoin-qt crashed after completing a full blockchain rescan · Issue #26339 - GitHub
While investigating #26317 I tried running: $ bitcoin-cli rescanblockchain to rescan the full blockchain. It took about 9 hours to run the full ...
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Bitcoin (BTC) and Ethereum (ETH) are up for Some Serious Price Corrections
Bitcoin (BTC) and Ethereum (ETH) investors turn to the presale superstar The Hideaways (HDWY) for stability.
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Thursday, October 20, 2022
South African Financial Sector Regulator Declares Crypto Assets a Financial Product
According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license.
Declaration Applicable to Any Digital Representation of Value Not Issued by Central Bank
According to a recently published South African government gazette, crypto assets have been declared as financial products under the country’s Financial Advisory and Intermediary Services (FAIS) Act. Signed by the Financial Sector Conduct Authority (FSCA) commissioner, Unathi Kamlana, the declaration became effective on October 19.
This is an historic moment for South Africa:
Today the Financial Sector Conduct Authority (FSCA) declared a crypto asset as a financial product under the FAIS Act.
This Declaration was published in the Government Gazette as well as the FSCA website.
— Farzam Ehsani (@farzamehsani) October 19, 2022
The designation, which has been welcomed by some players in South Africa’s crypto industry, applies to any “digital representation of value which is not issued by a central bank but is capable of being traded, transferred or stored electronically by natural and legal persons for the purpose of payment, investment or other forms of utility.”
The declaration also comes just a few months after the deputy governor of the South African central bank, Kuben Naidoo, revealed that his institution would be treating crypto assets as financial products. Such treatment would allow the South African Reserve Bank to regulate crypto assets.
‘Mounting Risk in the Crypto Asset Environment’
Reacting to the news, Farzam Ehsani, the founder and CEO of South African crypto exchange platform Valr, offered his perspective on what he thinks prompted this move. He tweeted:
The reason for the declaration was cited as being due to the ‘mounting risk in the crypto asset environment’ but it also looks [like] this action was done to comply with a Financial Action Task Force (FATF) deadline for remediation of recommendations for South Africa. Recommendations not fully remediated or significantly progressed by October 2022 can lead South Africa to be placed on the FATF grey list, which could have materially negative consequences for the country as a whole.
According to Ehsani, one consequence of this declaration is that crypto asset service providers (CASP) such as exchanges, now need to apply for a license under the FAIS Act. This has to be done between June 1, 2023 and November 30, 2023. In addition, CASPs will also be required to share information with the FSCA upon request.
On what the declaration means for the industry, the Valr CEO said:
“Overall this is a positive step for the crypto industry and South Africa in general. This Declaration will open the door to many of the large traditional financial institutions (TradFi) in South Africa to start providing crypto products and services.”
The CEO added the declaration brings regulatory clarity — something which has been lacking.
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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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Finally a one coiner (BTC, not comedy)
As title says, I finally reached the status on 1 coiner. I own 1 full BTC. Sitting pretty in my hard wallet with my seed phrase engraved on my metal plate.
I couldn’t resist buying at these prices. Things could still go down from here, but I got a nice little $5K bonus which was just enough to finally reach 1 whole Bitcoin.
Feels really good, I just wanted to share with people who understand how significant this is. I tried to tell my wife and she said, ‘Cool! Nice job.’
… And that’s it. cue the ‘Cool! Nice job.’ comments
What are your current crypto goals and how far away are you? cue the ‘billionaire’ comments Seriously curious though… I’m not sure what my next goal should be. I’ve got hefty ALGO and BTC. Maybe 2 BTC?
Submitted October 19, 2022 at 11:39PM by Fresh-Chemical-9084 https://ift.tt/tfZlMKz https://ift.tt/28eukvp
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Uplifting Sign For Bitcoin? 48k BTC Leaves Coinbase Wallets | Bitcoinist.com
Bitcoin on-chain data shows a total of 48k BTC have been withdrawn from crypto exchange Coinbase's wallets during the past day, a sign that could ...
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BDMI Invests in Book.io, the First Ever NFT Ebook Platform
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Submitted October 19, 2022 at 09:39PM by brbinsky https://ift.tt/bn0tuyQ https://ift.tt/28eukvp
Submitted October 19, 2022 at 09:39PM by brbinsky https://ift.tt/bn0tuyQ https://ift.tt/28eukvp
Bitcoin Miners Pan for Cash as Profits Dry Up and Crypto Markets Slump - Yahoo Finance
(Bloomberg) -- Bitcoin mining companies are increasingly opting to sell equity, resorting to one of their least attractive options to raise money ...
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Finally a one coiner (BTC, not comedy)
As title says, I finally reached the status on 1 coiner. I own 1 full BTC. Sitting pretty in my hard wallet with my seed phrase engraved on my metal plate.
I couldn’t resist buying at these prices. Things could still go down from here, but I got a nice little $5K bonus which was just enough to finally reach 1 whole Bitcoin.
Feels really good, I just wanted to share with people who understand how significant this is. I tried to tell my wife and she said, ‘Cool! Nice job.’
… And that’s it. cue the ‘Cool! Nice job.’ comments
What are your current crypto goals and how far away are you? cue the ‘billionaire’ comments Seriously curious though… I’m not sure what my next goal should be. I’ve got hefty ALGO and BTC. Maybe 2 BTC?
Submitted October 19, 2022 at 11:39PM by Fresh-Chemical-9084 https://ift.tt/tfZlMKz https://ift.tt/28eukvp
Wednesday, October 19, 2022
Bitcoin Is Trading at Discount and Will Rally to $100k: Bloomberg Strategist - Reddit
388 votes, 296 comments. 5.6M subscribers in the CryptoCurrency community. The leading community for cryptocurrency news, discussion, ...
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More blood on the way? Bitcoin Displays a Crash Pattern Similar to the Bear Market of 2018
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Submitted October 19, 2022 at 03:46AM by irahuo https://ift.tt/65MVQzW https://ift.tt/28eukvp
Submitted October 19, 2022 at 03:46AM by irahuo https://ift.tt/65MVQzW https://ift.tt/28eukvp
Institutions 'moving very, very fast' into Crypto: Coinbase exec
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Submitted October 19, 2022 at 01:09AM by Onionjuiceboxwfrys https://ift.tt/SdI3Pl7 https://ift.tt/28eukvp
Submitted October 19, 2022 at 01:09AM by Onionjuiceboxwfrys https://ift.tt/SdI3Pl7 https://ift.tt/28eukvp
Ethiopia Orders Banks to Reject Requests for Foreign Exchange to Buy ‘Non-Priority Products’
The Ethiopian government has instructed banks to reject requests for foreign currency to buy so-called non-priority products. The Ethiopian Minister of Industry Melaku Alebel Addis has defended the move, saying this will allow local manufacturers to grow and become competitive. The restrictions are set to remain in force for an indefinite period.
Eliminating Pressure From Foreign Products
The Ethiopian government has reportedly instructed banks to reject requests for foreign currency to buy what the Ministry of Finance calls non-priority goods. In a letter to the country’s central bank, the ministry reportedly stated that banks must only approve requests for foreign exchange if the customer’s objective is to import food, medicines, or medical equipment. Foreign exchange should also be availed to importers of raw materials, the ministry reportedly said.
Justifying the seemingly protectionist policy, the Ethiopian Minister of Industry, Melaku Alebel Addis, suggested in a tweet that the latest forex restrictions are necessary because they give local products a chance. Addis insisted that countries with well-developed industries were only able to achieve this feat firstly by limiting or eliminating the pressure from foreign products.
Ethiopians’ Worsening Forex Woes
The second step, according to the minister, was the introduction of “their products to the world market and competing.” Addis ends the tweet by urging local manufacturers to take advantage of the policy change. He said:
You must take advantage of this opportunity.
According to an AFP report, some of the products and imports affected by the latest government foreign exchange conservation measures include motor vehicles, alcoholic drinks like wine and whiskey, artificial jewelery, perfumes, and cigarettes.
The Ethiopian government, which has waged a bloody war against rebels in the country’s Tigray province, faces ongoing shortages of foreign exchange. At the same time, the gap between the local currency’s official and black market exchange rates has widened to a record high.
To counter the foreign exchange shortages as well as the Ethiopian birr’s depreciation, the country’s central bank — National Bank of Ethiopia — announced in September that it had revised downwards the amount of foreign exchange and local currencies Ethiopian travelers can take outside the country. Before that, the central bank had also advised against trading cryptocurrencies.
Meanwhile, according to Addis, his government’s latest forex restrictions are set to remain in force for an indefinite period.
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