Ethena Labs’ Decision Ethena Labs has added Bitcoin (BTC) as collateral for its USDe product. This aims to increase USDe’s supply from $2 billion to leverage the growing BTC derivative market. Ethena believes this will enhance scalability and liquidity for delta hedging. CryptoQuant CEO’s Concerns Ki Young Ju, CEO of CryptoQuant, has expressed concerns about…
Despite Bitcoin’s recent sideways movement, crypto analyst Lark Davis believes it will continue to surge throughout the year and into 2024. Factors Driving Bitcoin’s Bullishness Election Year:Davis points out that the stock market tends to perform well in election years. As Bitcoin has become more intertwined with traditional markets, it could benefit from this positive…
De-platforming Crypto Businesses Crypto enthusiasts are raising concerns about a coordinated effort by US banks to cut ties with businesses dealing in digital currencies. This effort, known as Operation Choke Point 2.0, aims to restrict crypto’s access to traditional financial systems. Wells Fargo’s Abrupt Closure John Paller, founder of ETHDenver, shared his experience with Wells…
The Shiba Inu burn rate has taken a hit, dropping by 28% in the past 24 hours. This is a significant change from the recent trend of increasing burns. Decline in Burn Transactions The drop in burn rate is due to a decrease in the number of burn transactions. On Thursday, there were 14.37 SHIB…
Ripple’s Stablecoin Venture Ripple, the company behind XRP, recently announced its plans to launch a stablecoin. This move sparked a public feud with Coindesk, a cryptocurrency news outlet. Ripple CEO’s Criticism Ripple CEO Brad Garlinghouse slammed a Coindesk article that portrayed their stablecoin venture as a sign of desperation. He called the article “embarrassing for…
Understanding Trade Finance Risks Trade finance is essential for global trade, but it also poses risks: High transaction volume and complexity: The sheer number and intricate details of trade transactions make it difficult to detect suspicious activity. Time constraints and competition: Tight deadlines and competition can lead to rushed due diligence, increasing the risk of…
A seasoned crypto trader, known as Bluntz, believes that NEAR Protocol (NEAR), an Ethereum competitor, is poised for a significant surge. NEAR Protocol: Ready for a Jump Bluntz shared a chart with his followers, indicating that NEAR could break past the $10.50 mark. At the time of writing, NEAR is trading at $6.67. Solana Ecosystem…
Google is taking legal action against two Chinese nationals, Yunfeng Sun and Hongnam Cheung, for allegedly using fake Android apps to scam victims out of tens of thousands of dollars in digital assets. Social Engineering and Fake Apps The scammers lured victims through text messages, pretending to be from wrong numbers but later striking up…
Crypto analyst PlanB believes Bitcoin will reach $100,000 this year, despite the current market dip. Reasons for Optimism Stock-to-Flow Indicator: PlanB uses this indicator to suggest that $100,000 is just the starting point, with an average price of $500,000 possible. High Demand: PlanB argues that Bitcoin’s limited supply and growing demand will drive up its…
SEC Commissioner Hester Peirce has criticized the agency for its poor engagement with the public. Limited Interactions Peirce stated that individuals and organizations seeking feedback or addressing concerns often face silence from the SEC. She noted that “productive interactions are fewer and further between than they were in the past.” Discouraging Staff Engagement Peirce believes…
