roadrunner

U.S. Senator Sherrod Brown has asked Fed Chair Jerome Powell not to forget the Federal Reserve’s “dual mandate” when making decisions about hiking interest rates at the next Federal Open Market Committee (FOMC) meeting. “It is your job to combat inflation, but at the same time, you must not lose sight of your responsibility to ensure that we have full employment,” the senator told the Fed chairman. U.S. Senator Reminds Powell of Fed’s Dual Mandate Federal Reserve Chairman Jerome Powell is facing political pressure over interest rate hike decisions. U.S. Senator Sherrod Brown (D-OH), chair of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to Powell on Tuesday asking him to consider the Fed’s dual mandate before making any decision to raise interest rates in the next Federal Open Market Committee (FOMC) meeting. Senator Brown wrote: As you know, the Federal Reserve is charged with the dual mandate of promoting maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy. “It is your job to combat inflation, but at the same time, you must not lose sight of your responsibility to ensure that we have full employment,” the lawmaker stressed. “For working Americans who already feel the crush of inflation, job losses will make it much worse. We can’t risk the livelihoods of millions of Americans who can’t afford it,” Brown continued, elaborating: I ask that you don’t forget your responsibility to promote maximum employment and that the decisions you make at the next FOMC meeting reflect your commitment to the dual mandate. A Fed spokesman reportedly confirmed that Powell received the letter Brown sent, noting that the normal policy is to respond to such communication directly. Commenting on Brown’s letter to Powell, Mark Zandi, chief economist at Moody’s Analytics, was quoted by CNBC as saying: “Chair Powell has made it pretty clear that the necessary conditions for the Fed to achieve its full employment is low and stable inflation. Without low and stable inflation, there’s no way to achieve full employment.” He added: He’ll stick to his guns on this. I don’t see this as having any material impact on decision-making at the Fed. LPL Financial’s chief equity strategist, Quincy Krosby, opined: “The democratization of the Fed is the issue for the market, how much power the other members have vs. the chairman. It’s difficult to know.” Regarding Brown’s letter, the strategist said, “I don’t think it’s going to affect him,” noting: He knows the pressure. He knows that the politicians are increasingly nervous about losing their seats. There’s very little he could do at this point, by the way, to help either party. Bleakley Advisory Group’s chief investment officer, Peter Boockvar, commented: “I don’t necessarily think that Powell will buckle to the political pressure, but I’m wondering whether some of his colleagues start to, some of the doves who have become hawkish … Employment’s fine now, but as months go on and growth continues to slow and layoffs begin to increase at a more notable pace, I have to believe that the level of pressure is going to grow.” Do you think the Federal Reserve is influenced by political pressure regarding interest rate hikes? Let us know in the comments section below. View the full article

PRESS RELEASE. Launching its much awaited V2 testnet on the Goerli chain today, UniLend team is looking to Revolutionise the Lending and Borrowing scene in the DeFi space. It is the first ever protocol which claims to “Make Every Digital Asset Productive”. Earlier, UniLend Finance CEO, Chandresh Aharwar had unveiled the version of UniLend Dapp for the first time on Binance Live, calling it “The world’s first true permissionless lending and borrowing protocol”. The DeFi space has grown multiple fold in the past couple years but is still in its early stages. UniLend V2 will allow anyone to start lending and borrowing of any 12k+ ERC20 tokens, just like anyone can start trading any token on a decentralised exchange without any approval or permission. The team also announced an Airdrop worth $5000 UFT for early tester which will run for couple of weeks. In order to enable you to quickly learn about v2 , we advise you to dive in to the documentation: – Core UniLend V2 smart code on Github – Whitepaper Launched after months of rigorous internal testing, hard work and sweat, the team says it’s confident that with this release, a new era of the financial system will impact the lives of billions of people with inclusion into DeFi. With UniLend V1 Permissionless Protocol being live for more than a year on four major blockchains: Ethereum, Polygon, Binance Smart Chain, and Moonriver with more than $50 Million Flash Loans executed, the team is extremely enthusiastic and optimistic about the V2 Testnet launch. The lending and borrowing scenario should be 100-times what it is today and UniLend, with its V2, the future of Defi, is taking the first step in that direction, also bringing the dual asset pools for lending & borrowing with price feed oracles and gas optimization. It also boast features like Flexible Lending, Flash Loans, Non Fungible Liquidity, Concentrated Liquidations, On Chain Price Feed, Security and a Seamless User Experience. UniLend assures users that new developments won’t stop and they will continue to monitor the testnet and release new functionalities and features in the future versions.They understand the need for a seamless, intuitive and easy-to-use user experience for mass adoption and integrate these principles in the code, making the DeFi ecosystem more accessible and grow faster. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The government of Moldova has decided to suspend crypto mining activities in the country as it’s facing a major energy crisis. The move is part of emergency measures to reduce power consumption with energy supplies dwindling due to the escalating conflict in neighboring Ukraine. Authorities in Moldova Prohibit Bitcoin Minting and Mining Hardware Imports to Save Power Cryptocurrency mining in Moldova has been targeted amid a deepening energy crisis as the winter approaches. The country’s government took steps this week to limit electricity consumption, including imposing a complete ban on the extraction of digital coins. The prohibition comes after Moldovan President Maia Sandu urged ministers to introduce restrictions to save power during a meeting of the Eastern European nation’s Security Council. Crypto miners are among the first victims of the cuts, despite their industry not being a significant consumer. Deputy Prime Minister Andrei Spînu took to Telegram earlier to warn about the expected electricity shortages, blaming Russian air strikes on Ukraine’s energy infrastructure and reduced natural gas supplies by Russia’s energy giant Gazprom. Spînu asked Moldovans to act in solidarity and with responsibility in order to avoid blackouts and disconnections. He called on businesses to turn off advertising or decorative lighting, adjust production hours, and use generators if possible between 7 a.m. and 11 p.m. On Tuesday, Moldova’s Commission for Emergency Situations approved a number of measures to address the energy crisis. Besides mining itself, it also banned any imports of crypto mining equipment. Quoted by the RIA Novosti news agency, it stated: Activities for the mining of crypto assets are prohibited, as well as the import of specialized equipment…, regardless of the location of the importing company. The authorities in Chișinău also recommended that Moldovans reduce electricity consumption by using elevators less often, especially during peak hours, and limiting the lighting of commercial building facades and billboards. Local governments have been instructed to reduce street lighting as well. Do you think Moldovan crypto miners will survive the recently introduced energy cuts? Share your thoughts on the subject in the comments section below. View the full article

After revealing Alphabet Inc.’s Google Cloud partnership with Coinbase, the multinational technology conglomerate holding company has announced the firm’s “Google Cloud Blockchain Node Engine.” While more blockchains will be supported, Google said that “Ethereum will be the first blockchain supported by Blockchain Node Engine.” Google Launches Cloud-Based Blockchain Node Engine Alphabet Inc., otherwise known as Google (Nasdaq: GOOGL), revealed the firm’s newly launched Google Cloud Blockchain Node Engine on Thursday. The reason Google decided to release the engine is because it believes “self-managed nodes are often difficult to deploy and require constant management.” The Blockchain Node Engine product is a “fully managed node-hosting service” that can be leveraged by crypto companies and Web3 service providers. The company further detailed on Thursday that the new node engine service will support the second-leading crypto asset network by market cap, Ethereum. “Ethereum will be the first blockchain supported by Blockchain Node Engine, enabling developers to provision fully managed Ethereum nodes with secure blockchain access,” the tech company said in the recently published blog post. The news follows Google’s recent partnership with Coinbase in order to drive Web3 innovation. With the latest blockchain engine product, “Web3 companies who require dedicated nodes can relay transactions, deploy smart contracts, and read or write blockchain data with the reliability, performance, and security they expect from Google Cloud compute and network infrastructure.” Moreover, a Blockdata study shows that Google is one of the top investors in blockchain technology as it invested in firms like Fireblocks, Digital Currency Group (DCG), Dapper Labs, and Vultage. The tech giant’s entry into the world of decentralized finance (defi) and Web3 was revealed last May when it formed a Web3 team within its cloud unit. “We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises,” a Google spokesperson said at the time. The latest node engine offering announcement says the service aims to provide “streamlined provisioning,” “secure development,” and “fully managed operations.” “By reducing the need for a dedicated Devops team, and by offering Google Cloud’s service level agreement (SLA), Blockchain Node Engine can let your team focus on your users instead of your infrastructure,” Google’s blog post concludes. We look forward to supporting organizations with a reliable, easy-to-use blockchain node hosting service so they can focus their time on innovating and scaling their Web3 applications. What do you think about Google’s Blockchain Node Engine product? Let us know your thoughts about this subject in the comments section below. View the full article

Four days ago, the crypto rewards platform Freeway.io, formally called Aubit, halted withdrawals on October 23 after citing it was protecting the firm’s portfolio from “market fluctuations and volatility.” Two days later, the team updated the community and explained on Tuesday that “one of Freeway’s trading strategies appears to have failed and caused a substantial loss.” Crypto Rewards Company Freeway Updates Crypto Community After Halting Supercharger Buy-Backs The crypto rewards company Freeway.io was a platform that claimed to offer up to 40% annual percentage yield (APY) on “Supercharger” accounts. However, on October 22, the whistleblower known as “Fatman” published a tweet that warned people to get their funds off the Freeway platform. “I believe they are operating a Ponzi scheme,” Fatman told his 103,000 Twitter followers. “In my opinion, it’s likely that Freeway will collapse within the next few months and that all depositors will lose everything.” The following day, Freeway published an update that said it had to reallocate funds in order to protect the rewards company’s portfolio from “market fluctuations and volatility.” Amid the reallocation process, it said that operations would be halted and it could not comment further on the situation. The news was followed with intense speculation and claims that some of the company’s employees were erased from the firm’s web portal. An internet archive of the company’s website confirms that specific employee names were deleted from the site at some point during the end of September. On October 25, Freeway’s Twitter account gave the public an update on where the company stands. The language used is ambiguous and the team’s Twitter thread says: “The following is our understanding: One of Freeway’s trading strategies appears to have failed and caused a substantial loss to be incurred due to unexpected market volatility.” Freeway claims that it observed two “converging factors” that led to the incident — “the unprecedented USD rally and crypto volatility.” Interestingly, the U.S. dollar rally has been known for quite some time and the so-called “unprecedented” rise has been well documented by the financial media. The U.S. dollar has been on the rise for well over six months and crypto volatility has been super minimal in recent times compared to most global assets. Freeway further said that the “trade execution carried out by the Ardu Prime Brokerage had nothing to do with this failure.” The company insists that the “trading strategy was executed as it was programmed, but the market volatility caused a spike in margin utilisation leading to the loss.” The crypto rewards company Freeway added: Unfortunately, the trading loss that has been incurred has dramatically impacted Freeway’s portfolio, but, having been made aware of these losses we are taking steps to secure Freeway’s remaining funds, and have already moved out of the loss-producing strategy. Supercharger Buy-Backs Won’t Resume Until the Firm Is ‘in a Position to Execute Safely,’ Freeway Has No Idea About the Length of Time It Will Take to Resume Operations Freeway also detailed that four different recovery plans were in motion and one of them plans to allocate “funding in a totally new product with impressive projected profitability.” The company closed the Twitter thread by saying that the recovery plans will take time and the plans need to be executed before it resumes Supercharger operations again. “In order for us to resume Supercharger buy-backs we need to be in a position to execute safely,” Freeway said. “We will therefore need to see significant inroads into the losses before that can happen, and that will take time.” Freeway’s Twitter thread is locked and only people Freeway mentions (@) can reply to the company’s update. The Freeway team’s Twitter thread concludes: We know your next question is going to be about the length of time involved. We do not have an immediate answer for this. Freeway’s native crypto asset called freeway (FWT) is down close to 80% against the U.S. dollar during the last seven days. During the last 24 hours, however, FWT has seen some gains and managed to climb from $0.00114042 per unit to $0.00147076 per FWT. What do you think about Freeway’s latest update saying that it suffered from a “substantial loss” stemming from a trading strategy? What do you think about the firm saying it does not have an “immediate answer” for when operations will resume? Let us know what you think in the comments section below. View the full article

PRESS RELEASE. October 27th, Lugano Switzerland — The city of Lugano is the largest city in the canton of Ticino, Switzerland. They are also the economic capital of Southern Switzerland, strategically located between the metropolitan areas of Milan and Zurich. Part of Lugano’s appeal as a vibrant financial center is its commitment to the adoption and usage of cryptocurrencies. On the 3rd of March 2022, the City of Lugano and Tether Operations Limited signed a Memorandum of Understanding to collaborate on an initiative called Plan ₿, meant to make Lugano one of Europe’s and the world’s main hubs for digital innovation with a focus on blockchain technologies. A part of this plan would always be to bring crypto payments to the whole community, providing everyone with the opportunity to enjoy faster, safer, and less expensive payments. Utrust will be providing crypto payments infrastructure both for government services and all e-commerce businesses. Utrust’s solution allows people to make seamless payments through cryptocurrencies such as Tether & Bitcoin (including Lightning Network). Utrust has created the world’s first crypto payment solution to offer instant transactions, buyer protection, and crypto-to-cash settlements. Now, this ability to provide cheaper, faster, and safer payments for users worldwide and near-instant and secure global settlements at a trivial cost, accessible to merchants globally, will be put at the service of the entire City of Lugano. Michele Foletti, Mayor of Lugano stated: “In Lugano, we are making living on crypto a reality. These currencies are the future of money, the advantages are obvious, and we are very proud to be one of the first communities to move forward with adoption. Lugano is leading the way”. The first part of this plan will happen at a municipal level. All services provided to the city’s government will be payable in crypto through the Utrust widget. This includes anything, from services and fees to citizens paying their taxes. Sanja Kon, Utrust CEO stated: “Payments are an integral part of almost all economic activity, and, consequently, human activity. Making them easier, faster, and safer, and removing intermediaries from the process, is maybe the optimal way of improving the way we lead our lives in general. Lugano’s decision to bring this technological advancement to the entire city is a tremendous move and Utrust is proud to be the chosen partner to make it happen” The second stage of the process will be to offer Utrust’s solution to all interested e-commerce merchants operating in the city. This will empower merchants not only in their local activities but also in their ability to engage in global trade. Depending on payment processors and geography, merchants can be charged up to 12% in fees. That amount, which can easily mean the difference between profitability and bankruptcy, can be lowered by 90% with Utrust’s gateway. Paolo Ardoino, Tether CTO stated that: “This technology is the future. Payments should happen near-instantly, globally, and at a trivial cost. Anything else is obsolete. Now, for the first time ever, an entire city will have the tools to make it a reality for tens of thousands of people. The implications are hard to overstate, and we are thrilled to be the ones to make it happen.” Michelle Foletti, Mayor of Lugano, Sanja Kon, Utrust CEO, and Paolo Ardoino, Tether CTO, are all available for further comments and interviews About Utrust Web3 payments technology. The radically better way to pay and get paid globally. Utrust is the leading cryptocurrency payment solution designed to modernize the financial and payments industry and solve the problems of traditional payment methods by enabling instant transactions, buyer protection, and instant crypto-to-cash settlements for merchants. Utrust Socials Twitter | Telegram | Medium | Facebook | Instagram | LinkedIn | Reddit Media Contact Details Contact Email: press@bitcoinprbuzz.com Utrust is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

On Thursday, the European Central Bank (ECB) announced the central bank’s third consecutive benchmark bank rate increase this year, raising the rate by 75 basis points (bps). In addition to the rate hike, the ECB changed the central bank’s targeted longer-term refinancing operations terms and conditions noting that they need to be “recalibrated.” ECB Hikes Rate in Attempt to Curb Red-Hot Inflation Eight days ago, the European Union’s statistics office Eurostat published the latest inflation report for September. Eurostat’s records indicated that Euro area annual inflation jumped to 9.9% in September, the highest in 40 years. A week later, the European Central Bank (ECB) and the central bank’s president Christine Lagarde hiked up the benchmark bank rate for the third time in a row. We’ve just taken our latest monetary policy decisions, determining what’s needed to achieve stable prices in the euro area. Tune in to #TheECBPodcast to hear President Christine @Lagarde present the decisions in our press conferencehttps://t.co/tMkt8cf4tC — European Central Bank (@ecb) October 27, 2022 The rate was increased by 75bps and the terms and conditions for targeted longer-term refinancing operations (TLTROs) will be changed and adjusted as of November 23. The ECB said that the TLTROs played an important role during the Covid-19 pandemic and now the refinancing operations need an adjustment. “During the acute phase of the pandemic, this instrument played a key role in countering downside risks to price stability,” the ECB stressed. The central bank added: Today, in view of the unexpected and extraordinary rise in inflation, it needs to be recalibrated — In order to align the remuneration of minimum reserves held by credit institutions with the Eurosystem more closely with money market conditions, the Governing Council decided to set the remuneration of minimum reserves at the ECB’s deposit facility rate. Central banks across the globe are attempting to see how they can gauge the deposit facility rate and curb inflation at the same time. Most of the central banks have been lagging behind the U.S. Federal Reserve, which is expected to raise the federal funds rate (FFR) by 75bps next month. Slowly but surely, as it’s an indicator with significant lag, the European Union’s higher borrowing rates or cost of lending increases across the nation’s financial industry. With the ECB raising the rate by 75bps, the higher borrowing costs will affect all the market participants in the European Union (EU) going forward. For instance, EU mortgage rates tapped a seven-year high this month as they jumped a full percentage point by the end of August. What do you think about the ECB raising the benchmark bank rate by 75bps? Let us know what you think about this subject in the comments section below. View the full article

Dogecoin rose by as much as 17% on Thursday, as Tesla CEO Elon Musk moved closer to completing a takeover of Twitter. Musk has been a public supporter of the meme coin in recent years, with some suggesting that it could be added as a payment method on the social media platform. Cosmos also traded higher, climbing by 8% today. Dogecoin (DOGE) Dogecoin (DOGE) was once again in the green on Thursday, as the token rose by as much as 17% in today’s session. The surge in price comes as long-term supporter of the meme coin Elon Musk moved closer to completing his takeover of Twitter. In a statement released earlier today, Musk stated that “The reason I acquired Twitter is because it is important for the future of civilization.” DOGE/USD raced to an intraday peak of $0.08028 on the news, which comes a day after trading at a low of $0.0668. The meme coin is now trading at its highest point since August 17, with the relative strength index (RSI) also tracking at long-term highs. As of writing, the index is tracking at 78.59, which is its strongest point since August 2021. Cosmos (ATOM) Another notable mover in today’s session was cosmos (ATOM), which rallied by nearly 8% on Thursday. Less than 24 hours after hitting a low of $12.19, ATOM/USD was exactly $1.00 higher in today’s session. Today’s surge saw cosmos climb for a third straight session, hitting a seventeen-day high in the process. Looking at the chart, the RSI also moved higher, climbing to a top of 56.00, which is below a ceiling of 58.80. This is the strongest point that price strength has hit since September 19, with moving averages also trending upwards. Many expect a crossover between the 10-day (red), and 25-day (blue) moving averages to occur in the coming days, which could push prices even higher. Register your email here to get weekly price analysis updates sent to your inbox: What is the highest point you believe cosmos will hit this week? Let us know your thoughts in the comments. View the full article

According to 257 economists polled by Reuters, the global economy is approaching a recession, but 70% of the survey’s participants believe the chances of a sharp rise in unemployment levels will be low. The poll follows the Biden administration and the U.S. Commerce Department issuing a package of trade restrictions against China’s relationship with the semiconductor industry. The tensions between the U.S. and China have given observers reason to believe that China could invade Taiwan in the near future. Accounts stemming from the 20th Communist Party Congress (CCP) conference note that Xi Jinping reportedly discussed completing the country’s control over Hong Kong and “Taiwan is next.” Polled Economists Believe Global Economy Draws Closer to a Recession, Rabobank Market Analyst Says It’s ‘Pretty Much a No-Brainer’ The world’s economy looks gloomy following the aftermath of the Covid-19 pandemic response, and the recent tensions between major nation-states. On a global level, inflation has skyrocketed in every country and rising energy costs tied to financial sanctions and the ongoing Ukraine-Russia war have made things a lot worse. On October 25, Reuters, the news agency owned by Thomson Reuters, published a poll that consisted of 257 economists and a majority of the individuals believe the global economy is approaching a recession. A global strategist at Rabobank, Michael Every, told Reuters that the “risk of a global recession” is at the forefront of everyone’s conversations. “I think that’s pretty much a no-brainer when you look at the trend in all the key economies,” Every said. Moreover, Every further added that if unemployment remains strong it gives central banks like the U.S. Federal Reserve ammo to raise rates. “The longer [the jobless rate] stays stronger the more central banks will feel that they can continue to hike rates,” Every remarked. 70% of the economists polled said the chances of a hike in unemployment were low to very low. The poll’s data that started on September 26 and through October 25 is a downgraded outlook compared to the stats Reuters recorded in July. “Global growth is forecast to slow to 2.3% in 2023 from an expected 2.9% this year, followed by a rebound to 3.0% in 2024, according to Reuters polls of economists covering 47 key economies taken Sept. 26-Oct. 25,” the news agency’s reporter Hari Kishan wrote. As far as China, the second largest economy is concerned, the polled economists say the country is “expected to grow 3.2% in 2022.” U.S. Tensions With China Elevate, ‘New Export Controls on China’s Chip Industry’ Have ‘Assured an Invasion of Taiwan’ The Reuters poll comes at a time when tensions have been extremely elevated between the United States and China. When the American representative from California, Nancy Pelosi, visited Taiwan in August, the meeting was considered disrespectful to China. At the time, the White House said China is preparing to carry out “military provocations” while Chinese warships practiced military drills in the Taiwan Strait. Earlier this week, the U.S. government charged two Chinese intelligence officers for bribing a government employee with bitcoin to access classified documents. On October 7, 2022, the U.S. Commerce Department initiated and crafted a package of semiconductor-related trade restrictions against China. The New York Times (NYT) reported that the “White House issued sweeping restrictions on selling semiconductors and chip-making equipment to China, an attempt to curb the country’s access to critical technologies.” Emily Kilcrease, a senior fellow at the think tank called the Center for a New American Security, told the NYT the move was “an aggressive approach by the U.S. government to start to really impair the capability of China to indigenously develop certain of these critical technologies.” The latest crackdown on China by the United States has caused a number of people to believe the country will invade Taiwan. Capitalist Exploits contributor Chris MacIntosh explained that the Biden administration adding “new export controls on China’s chip industry” has just “assured an invasion of Taiwan.” MacIntosh also spoke about the 20th CCP conference and noted that China’s president Xi Jinping said control of Hong Kong is now “complete” and that “Taiwan is next.” MacIntosh is not the only person that thinks China will invade Taiwan, as the Sri Lankan geopolitical blogger Dhanuka Dickwella thinks an invasion could happen this winter. In a recent blog post, Dickwella also mentioned the well-documented CCP conference and the forceful removal of China’s former president Hu Jintao. “Hu Jintao’s forceful removal from the party congress for the eyes of the whole world thus represents the departure of those approaches,” Dickwella said on October 22. “The approach of working closely with the West as well as trusting on negotiations for settling the dispute with Taiwan will effectively come to an end.” On Tuesday, JPMorgan boss Jamie Dimon said tensions between the U.S. and China and the ongoing Russia-Ukraine war are “far more concerning” than a recession. What do you think about the Reuters poll that shows economists believe a recession is near? What do you think about the tension between the U.S. and China possibly provoking the invasion of Taiwan? Let us know your thoughts on this subject in the comments section below. View the full article

Bitcoin was trading lower in today’s session, after failing to break out of a key resistance level of $19,600. Bullish sentiment seemed to have returned to the market on Monday, however this momentum was short lived. Ethereum also fell in today’s session, but remained above its recent price ceiling. Bitcoin Bitcoin (BTC) moved lower on Tuesday, as bears returned to action following a failed breakout of a key resistance point. BTC/USD slipped to an intraday low of $19,206.32 earlier in today’s session, moving away from Monday’s peak of $19,698. Yesterday’s move saw the token briefly move past its ceiling of $19,600, however, after failing to maintain momentum, bulls vacated their positions. As a result of today’s drop, the 14-day relative strength index (RSI) fell to a floor of 47.50, which is its weakest point since Saturday. Currently the index has rejected a move below this mark, and is tracking at 48.54, as bulls try to regain some of the market sentiment. However, should we see a move below the aforementioned floor, then we could see bitcoin once again move under the $19,000 level. Ethereum ETH/USD was also in the red on Tuesday, as traders appear to have consolidated their gains from yesterday’s session. Following a move to a three-week high of $1,370 on Monday, ETH/USD fell to a bottom of $1,327.85 earlier in the day. This earlier decline initially pushed the token below its resistance of $1,330, however as the day progressed, prices somewhat rebounded. As of writing, ethereum is now trading at $1,348.29, which shows that current momentum still remains largely bullish. An upwards crossover between the 10-day (red) and 25-day (blue) moving averages has now occurred as well, which could be the reason for the shift in sentiment. Looking at the chart, a ceiling of $1,385 still appears to be the target for traders in the coming days. Register your email here to get weekly price analysis updates sent to your inbox: Will we see ethereum continue to surge heading into November? Leave your thoughts in the comments below. View the full article

A group of hackers have taken advantage of typing mistakes in order to introduce malware to Android phones and Windows-based PCs. Using a technique called typosquatting, which consists of registering domains that are dramatically near to the ones of official brands of organizations, hackers are getting data and private keys from unsuspected users, according to a report issued by Cyble. Typing a Web Domain Incorrectly Might Be Dangerous for Your Wallet Hackers have set up a net of malware-infected domains that take advantage of the typing inaccuracies of users when getting to a determined website. According to a report issued by Cyble, a cyber security and digital risk assessment firm, these domains mimic renowned organizations and apps, like the Google Play Store, Apkure, and Apkcombo, among others. Users that visit the domains are prompted to download an infected version of the app requested, which will serve as a vehicle for the infection. The target device, be it an Android phone or a Windows PC, will then be infected with a version of ERMAC, a malware trojan that allows the threat actors to access several critical private data in the targeted device, including private keys. The banking trojan was first discovered in 2021 and it is now targeting more than 460 applications, allowing attackers to rent its services for $5,000 a month. Hackers Targeting More Sites and Brands Involved While the mentioned report only found evidence of a little group of apps and brands being mimicked, further investigation by another security source confirmed that at least 27 brands and app names are being targeted by this kind of attack. Among these are Tiktok Vidmate, Snapchat, Paypal, and even more dev-focused apps like Notepad+ and the Tor Browser. Cryptocurrency wallets and crypto mining and related sites are also on the list. Tronlink Metamask, Phantom, Cosmos Wallet, and Ethermine are part of the group of sites also targeted. Each one of these fake domains has different typo-squatted domains registered, to maximize the effect and damage of the attack. Cybel makes different recommendations to avoid this kind of attack, including having an effective antivirus protecting your phone and PC, and monitoring your wallets and banking accounts regularly. However, the best advice is to arrive at the web pages of software and apps through the use of a search engine, avoiding blog-posted directions and links shown as part of advertisement campaigns. What do you think about hackers taking advantage of misspelled domain names to steal crypto? Tell us in the comments section below. View the full article

Did you know? Due to the decentralized nature of NFT domains, users can host decentralized websites with legitimate ownership, control, and management access. Only the NFT domain owner is capable of making modifications to the domain, which also gets rid of third-party interference and centralized control. But what is Quik.com doing here? Quik.com serves as the portal of entry to this decentralized feature of the decentralized future by offering an exclusive registry of the .metaverse domains and .web3 domains extensions as well as 8 other NFT domain TLDs, giving users a broad range of choices for establishing their decentralized existence. Quik.com is an NFT domain marketplace that offers TLDs from a variety of technological vistas, including web3, blockchain, metaverse, cryptocurrency, NFTs, and the internet, encompassing a multitude of communities in one place. All to allow all users to access decentralized technology and gain access to the most recent innovations, which are even more recent for web 2.0 technical behemoths. So, what is an NFT Domain name registry? An NFT domain registry is a repository of all domain names registered on Quik.com and linked to Quik.com in its top-level domains registry. This also gives other users access to the names that have been registered and are up for grabs, which aids them in sabotaging the process of searching for the ideal name or perfection and saves them time and energy. Okay! But what exactly are TLDs? The top-level domain (TLD), which comes after the root domain in the internet’s hierarchical domain structure, is one of the domains at the highest level. The root zone of the namespace, or the area that comes right after the “.” sign, is where the top-level domains are installed. TLDs are primarily categorized into distinct genres or categories that are industry-or technology-based. Examples of popular TLDs and their explanations on Quik.com: .metaverse for The Metaverse .web3 for Web 3.0 .vr for Virtual Reality .chain for Blockchain .i for Internet .bored for Bored Ape Yacht Club .doge for Dogecoin .btc for Bitcoin .shib for Shiba Inu .address for Blockchain address The advantage of NFT domain registries is that they are open to the public and not under the authority of any one organization, upholding the decentralized nature of blockchain technology. This promotes user transparency. These NFT domain endings were made available by Quik.com, hence they are not formally associated with ICANN and are not listed in the DNS root directory. As a result, these domains are inaccessible to the centralized servers that grant the owner or newly created user full control over and access to NFT domains without the need for outside interference. Out of nowhere! How to pronounce NFT domains? There are numerous ways to spell NFT domains; some people spell it incorrectly as “nifty” or “nefts,” but the proper pronunciation is “en eff tee-daw mayns.” Many NFT domains are simple to spell, but many people still find it difficult to grasp and complicate them in the same way that they do while using them. What is an NFT domain? NFT domains are decentralized domains that run on open blockchains and, in addition to giving users full ownership of their stored data, they also offer administration and control rights. The key advantage of having an NFT domain is that it makes crypto transfers simpler by using simple wallet addresses instead of the complicated wallet addresses offered on Quik.com, such as mywallet.metaverse. Before doing anything complicated, it is simple to grasp NFT domain technology, as service providers like Quik.com made it possible for even regular people to access the technology in its early stages. NFTs are distinctive and digitally protected objects that are frequently used for digital networks. For example, if an artist creates an NFT for a GIF, video, or photo, they can sell it along with the associated rights that are individually defined, making NFTs a kind of title deed for digital objects. The blockchain technology on which NFT is based allows for the decentralized storage of object information in a peer-to-peer network as well as the storage of those blocks as a chain. The same technology is used for the NFT domain, where the blockchain houses data on the domain’s owner as well as the websites that use that domain. The user is independent of the actual internet and any third-party providers since the NFT domain are held in a wallet that is comparable to the one used for cryptocurrencies and NFTs. Once minted, the NFT domain of the user and its use cases are impervious to interference from even Quik.com, the service provider. NFT domains have many applications, but let’s first examine how they operate. Before continuing, it’s important to understand that NFT domains are cryptographic addresses that serve as web addresses for hosting decentralized websites or converting wallet addresses into human-readable NFT domain names. For hosting websites or other applications on the blockchain, Quik.com provides a domain directory for cryptocurrency wallet addresses, which can be seen as a collection of smart contracts. These domains function as the web3 component, allowing crypto wallet addresses to be substituted with short, simple NFT domain names from Quik.com, much like how a web address directs people to a page and displays content. NFT domains replace URLs with decentralized names, owned by the person or entity who created them, and point to the content that person or entity also maintains and controls. They are based on the ERC-721, ERC-1155, and BEP-721, BEP-1155 protocols, which help users better access domain names and comprehend the NFT domains listed on Quik.com.com. They also help to manage the NFT domain registry. You like my NFT domain? Gee, thanks! Just minted it on Quik.com Decentralized Web 3.0 is a new technology that has brought even the average user and tech giants to the starting point for discovering various features of decentralized technology. This new technology is for users with ambition and for those who tried hard to imagine competing with the web 2.0 tech giants. Having early access makes it easy for users to reach a wider audience and compete head-to-head with digital titans without worrying about falling behind with an idea or a concept. NFT domains, which are distinctive identifiers with a variety of purposes and may also be used as speculative investments for many, are offered by Quik.com. Since utility is the primary characteristic of NFT domains offered on Quik.com, users purchase these domains for use as personal identifiers and to replace complicated wallet addresses from multiple wallets with a single domain name. This makes it easier for users to share payment information and gives them access to host their web3.0 decentralized websites. Since each NFT domain on Quik.com is distinct, the dearth of distinctive identities can be leveraged as a speculative investment because it can be beneficial to resell memorable NFT domains on secondary marketplaces. It’s not the same as it was Given the fact that each NFT domain is distinct, there cannot be two NFT domains with the same domain name. If you come across a particularly desirable NFT domain name, you have two options: either negotiate with the user or purchase the domain. Users can also choose from a variety of TLD ranges on Quik.com. If mywallet.metaverse is not available, the user may use mywallet.web3 or another TLD. It may be associated with the user’s collection, hobby, job, or even just a random pick because these TLDs are appropriate for all of the user’s conditions and requirements. Go to Quik.com, select the NFT domain tab, and pick the NFT domain from the TLDs available. Click on the search bar to check if the name is available on Quik.com’s registry or if it is taken already. If the domain name is available for the mint, then just click on mint and complete the procedure. If the domain name is not available and is taken already, Quik.com will showcase the user’s identity, where you can connect with the user for negotiating. If the user does not wish to sell, then Quik.com also showcases a registry of domains similar to the choice available and then follows the same process of minting as above. Additionally, make sure your MetaMask wallet is linked to Quik.com so that you may access transactions even more easily thanks to the Quik API’s faster integration. Alright, but what’s the point of NFT domains? Everything is dependent on the user and their characteristics. Compared to NFTs, they can only be stored as an asset, and compared to regular domains, they can only host websites following the rules of ICANN, whereas NFT domains accessible on Quik.com have several use cases and represent the future of decentralized utility for users. I am an NFT artist! Quik.com is providing the .metaverse and .bored TLDs that mimic the industry to NFT artists who both create and collect, enabling their audience to understand the potential material the NFT domain could store. As an illustration, a person can host a decentralized website to display their material to an audience or even link the NFT domain name to their cryptocurrency wallet address and replace it with mywallet.metaverse or any other domain name they choose. This makes it simpler for the audience to buy from or transfer money to the NFT artist and makes it more industry-focused for the payment system. I am a Crypto collector! The most crucial component for cryptocurrency collectors is their crypto wallet, where they keep their holdings. Exchanges or trades are extremely time-consuming and demand copy/paste into a form to enter the complicated crypto wallet address before swapping with another user. The NFT domains from Quik.com come to the rescue since they convert the complicated crypto wallet addresses into human-readable NFT domain names, which makes it simpler for the wallet holder to remember the wallet name and speeds up and simplifies the transaction procedure even for the end user. For instance, kaeuh38qe08hf8w4th490ire to my wallet.btc I am a Blockchain enthusiast! As NFT domains run on blockchain protocols, blockchain enthusiasts are very knowledgeable about these domains and are aware of how crucial and reassuring it is to have a decentralized website that offers total autonomy over the usage and updating of the website, as well as the complete elimination of third-party intervention. With TLDs from Quik.com like .i or .chain, users can host decentralized websites that let blockchain enthusiasts establish their presence in front of the technology and confidently display their work to users. Developers often take on the job from the back. Therefore, this decentralized technology is also referred to as the developer’s web because it is now their chance to take on the role from the front. I am an Entrepreneur! As things are no longer the same as they were when IT giants controlled everything and governed the internet, now is the time for entrepreneurs to think big and achieve big on the internet. Quik.com Using NFT domains, every user can enter the decentralized universe using their decentralized identity. With the registry now open, it is even simpler to find a precise NFT domain name to propel a startup or existing company to the head of the pack and compete with those that own TLDs. All that was here were the trailers! Until you have access to the NFT domains, you won’t be able to fully appreciate the film or the extent to which this technology has developed and altered to become a standard instrument of the decentralized company. For immediate access, go to Quik.com; the rest will be provided. You will surely regret not understanding Web 2.0’s limitations sooner if you access the decentralized environment and understand them. It’s either “now or never” as you can mint your NFT domain now or you won’t find it ever (as another user might mint it), akin to first-comes-first-serve. Alternatively, it is “now and forever” — as in mint your NFT domain now and own it forever. Read more on Indiatech Quik.com’s Founder – Sahil Kohli Quik.com on Linkedin: https://www.linkedin.com/company/quik-com/ Read more about NFT Domains & More Cryptocurrency news here. Quik.com’s Whitepaper: https://quik.com/Quik_Whitepaper.pdf Quik.com’s Blog : Quik.com Blog Quik.com’s Twitter : https://twitter.com/quikdotcom Telegram Group : https://t.me/quikcom CoinMarketCap: https://coinmarketcap.com/currencies/quik/ This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent. Working With Regulators The Africa-focused cryptocurrency exchange platform, Yellow Card, recently revealed it had received a virtual asset service provider (VASP) license to operate in Botswana. The licence, which was issued by Non-Bank Financial Institutions Regulatory Authority (NBFIRA), makes Yellow Card the first crypto exchange to be granted permission to operate in the Southern African country. Remarking on his company’s latest milestone, Chris Maurice, the CEO and founder of Yellow Card, spoke of how the license opens the door for more opportunities. He said: This opens up greater channels of expansion with regards to payment partners, banking and expanding our client base across Africa. This will further show regulators in other markets that we are not just any other cryptocurrency company – we are pioneering, pushing boundaries and setting the standard. All the more reason for them to work together with us as well. In a statement issued in late 2021, the Bank of Botswana (BOB) said the country did not have a specific legal or regulatory framework on crypto assets. It also warned residents engaged in crypto trading there would be no legal recourse should they suffer financial losses. Serving Botswana’s Unbanked Population However, in early 2022 the Botswana government took the initial step towards regulating cryptocurrencies when it presented the Virtual Asset Bill to the country’s parliament. As reported by Bitcoin.com News, the draft bill explained the circumstances in which a crypto entity would be granted an operating licence. Botswana has since passed the Virtual Asset Act 2022 and Yellow Card’s operating license was issued on September 29 in accordance with Section 11 of the law. Meanwhile, the crypto exchange’s Botswana manager Keletso Thophego said the granting of the license makes it possible for the Yellow Card to able to serve “the unbanked in a faster and efficient way.” Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

British billionaire investor Guy Hands has reckoned that Britain will become “the sick man of Europe” and may be forced to seek a bailout from the International Monetary Fund (IMF) if it does not renegotiate its Brexit deal. The billionaire insisted the United Kingdom’s current economic woes are the result of a poorly negotiated Brexit deal and not the Liz Truss government’s controversial tax cut proposals. Billionaire Says Poor Brexit Deal Is Source of UK’s Economic Woes The British billionaire investor Guy Hands has warned that Britain needs to renegotiate Brexit if it is to avoid seeking a bailout from the International Monetary Fund (IMF), a report has said. According to Hands, Britain’s poorly negotiated exit from the European Union is the primary cause of the United Kingdom’s ongoing economic woes. As per a report by The Telegraph, Hands believes Britain’s period of economic pain — which seemingly reached its crescendo when the pound fell to its lowest exchange rate versus the dollar — started six years ago and could eventually see the country become “the sick man of Europe.” While Britain might not need the bailout right away, Hands, founder of private equity firm Terra Firma, insists seeking such financial assistance will become a reality if U.K. ministers fail to renegotiate the Brexit deal. Hands warned about the current course of the country: Steadily increasing taxes, steadily reducing benefits and social services, higher interest rates and eventually the need for a bailout from the IMF. Hands, who is a supporter of the ruling Conservative Party, reportedly suggested that he does not think the outgoing Liz Truss government’s tax cut proposals are to blame for the United Kingdom’s financial mess. Hands: Conservatives Must Own Up to Their Mistake Tax cut proposals by Kwasi Kwarteng — the United Kingdom’s former chancellor of the exchequer — reportedly spooked financial markets, causing the pound to fall to its lowest ever level versus the U.S. dollar. Meanwhile, the billionaire investor suggested there has to be some reckoning that the Brexit deal is poor and that it only put Britain on a disastrous economic path. In his remarks directed at the Conservative Party, which has since chosen Rishi Sunak to become the UK’s next prime minister, the billionaire said: “I think if the Tory party can own up to the mistake in how they negotiated Brexit and have somebody leading it that actually has the intellectual capability and the authority to negotiate Brexit, there is a possibility of turning around the economy, but without that the economy is frankly doomed.” After touching a low of 1.03 per one dollar, the pound has since recovered and is trading at £1:$1.13 at the time of writing. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The United States Department of Justice recently filed a lawsuit to recover $60 million that was imposed on Larry Harmon, the operator of a bitcoin mixing service targeted by U.S. law enforcement in 2020. According to U.S. authorities, Harmon had operated an unlicensed money-transmitting business. Violation of the Bank Secrecy Act The United States Department of Justice (DOJ) is reportedly suing Larry Harmon, the founder of the crypto mixer Helix, to recover the $60 million fine imposed on him by regulators. According to a Reuters report, the fine, which was imposed in 2020, stems from Harmon’s alleged violation of the United States federal Bank Secrecy Act. According to the Financial Crimes Enforcement Network (FinCEN), Harmon operated an unlicensed money-transmitting business. The business, according to U.S. regulators, enabled users to send virtual currencies anonymously. In 2021, Harmon reportedly pleaded guilty to a money laundering conspiracy charge and said he would cooperate with federal authorities. However, according to the Helix founder’s motion to dismiss filed with the U.S. District Court in 2021, Harmon claimed he had “never set out to break the law.” He insisted if he had known in 2014 — when he started Helix’s operations — that “operating a bitcoin tumbler was illegal, he never would have done it.” Furthermore, the Helix mixer employed a “double-blind system,” which means Harmon had no idea how much BTC was sent through the mixing platform. As per the report, neither Harmon’s lawyer nor the representative of FinCEN had responded to media inquiries concerning the DOJ’s decision to sue. Concerning the criminal case against Harmon, the report said the Helix founder had agreed to pay $311,000 as restitution. The report added that Harmon’s sentencing had been deferred pending his cooperation with the U.S. government. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

PRESS RELEASE. 25 October 2022: Today, the formation of a new entertainment PLC EMERGENT ENTERTAINMENT is announced. Emergent Entertainment officially merges London-based video game studio Maze Theory with blockchain veterans and developers Pluto Digital PLC, following a successful joint venture between the two companies (Emergent Games) earlier this year. Emergent Entertainment is a next generation entertainment company focused on bringing audiences and storytellers together by harnessing emerging technologies. The proposed valuation of the new business exceeds $65 million, and the company intends to prepare for a future IPO event. Former Executive Vice President of Sony Interactive Entertainment/PlayStation, Simon Rutter, joins the business as Chairman, alongside CEO Ian Hambleton (former CEO of Maze Theory). Simon spent 25 years at PlayStation, with the last 10 years in senior international leadership roles. Ian is a successful entrepreneur of 20 years, having founded and grown creative businesses across tech, digital, gaming and green tech with Found Studio, Maze Theory and Ecologi. Chairman Simon Rutter, and former Executive Vice President Sony PlayStation. Emergent Entertainment benefits from the combined legacy of the two merged entities, the skills and experience of its employees, and its existing product portfolio and asset base. Together, these elements provide the company with a unique set of competencies to successfully deliver engaging content such as mixed reality gaming, Web3 gaming and Web3 token services in a range of entertainment media. The new company will balance the traditional and the new; storytelling craft with technical innovation; and established, reliable business models with more contemporary forms of monetisation. With more than 60 developers and executives with extensive experience building AAA games, the game studio has four centuries worth of combined knowledge. Their aggregated CV includes: FIFA, NBA Online, The Sims, Need for Speed, Gran Turismo, Lord of the Rings, Horizon Zero Dawn, Sniper Elite, Peaky Blinders: The King’s Ransom, Doctor Who: Edge of Time, Blood and Truth, and PlayStation VR Worlds. Emergent Entertainment has already inked deals with several global entertainment properties, drawing on its expertise in making VR games for iconic shows such as Doctor Who and Peaky Blinders, with more VR game announcements to follow. The company’s first Web3 project, Resurgence, is currently in development and takes players on a journey from present day disaster to a post-apocalyptic future. The game gives players complete control to craft their own destiny by utilising resources in a unique community-based survival concept. Emergent Entertainment Chairman, Simon Rutter, says: “The Emergent Entertainment leadership team is passionate about the creative opportunities offered by the latest technological innovations.” CEO Ian Hambleton adds: “We are excited to bring together AAA game creators and advanced Web3 engineering skills in a way that hasn’t yet been seen. We are laser focused on delivering the best games and experiences using technology that truly benefits players and new audiences.” About Emergent Entertainment Emergent Entertainment PLC is a next generation entertainment company; and the official merger of London based video game studio Maze Theory and web3 technology company, Pluto Digital PLC. It brings storytellers and their audiences closer together by harnessing new technologies including VR, AR, AI and blockchain. The business is led by CEO, Ian Hambleton, serial entrepreneur and former CEO of Maze Theory and Exec Chairman, Simon Rutter, former Executive Vice President of Sony PlayStation. Emergent Entertainment will deliver engaging content including mixed reality gaming, Web3 gaming and Web3 token services in a range of entertainment genres. Its first Web3 game, Resurgence, is in development and it has signed deals with a number of global entertainment properties, drawing on Maze Theory’s expertise in making VR games for iconic shows such as Doctor Who and Peaky Blinders. With more than 60 developers and executives with extensive experience building AAA games, the game studio has four centuries worth of combined knowledge. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Reddit’s non-fungible token (NFT) avatars have produced significant market action in the NFT industry, as the collectible’s secondary market sales reached more than $5 million on October 24 across more than 20,000 sales. The demand for Reddit’s collectible NFT avatars minted on Polygon has also spurred over three million Redditors to leverage Reddit’s Vault blockchain wallet. Demand for Reddit’s Collectible NFT Avatars Skyrockets — $5 Million in Secondary Sales Sold Across 20,000 Sales During the first week of July, Reddit revealed the company had plans to release blockchain-backed avatars that leverage the proof-of-stake (PoS) blockchain Polygon (MATIC). At the time, Reddit said that Polygon was chosen for its “low-cost transactions and sustainability commitments.” On October 18, 2022, Reddit’s chief product officer Pali Bhat explained, while speaking on a Techcrunch Disrupt panel, that three million Vault blockchain wallets crafted by Reddit were created to date. Bhat further told the event’s attendees that 2.5 million were created in order to obtain the latest NFT avatars. According to statistics stemming from the blockchain analytics portal Dune Analytics, Opensea’s Polygon daily sales volume has skyrocketed and secondary market sales crossed the $5 million mark on Monday across 20,375 total sales. In the last 24 hours alone, the collectible Reddit NFT avatars recorded $1,951,860 in sales. 4,708 Reddit NFT avatar sales occurred across secondary markets during the last day, and today, there are 2,831,931 total collectible avatar holders as of 5 p.m. (ET) on October 24, 2022. On August 19, 2022, there were 32,730 total collectible avatar holders and since then, ownership has increased by 8,552%. By September 2022, the rate of ownership grew exponentially and there’s currently 2,919,501 Reddit collectible avatars available. Dune Analytics stats published by the @polygon_analytics team show that 3.82% of the Reddit collectible avatars are owned by whales. Polygon’s native crypto asset, polygon (MATIC) has reaped the benefits of the latest Reddit NFT avatar demand, as the digital currency is up 6.4% during the last 24 hours. In seven days, MATIC has climbed 12.4% and during the last month, MATIC is up 15.4% against the U.S. dollar. Year-to-date, however, MATIC is down 45.4% against the greenback. What do you think about the recent surge in demand for Reddit’s NFT collectible avatars? Let us know what you think about this subject in the comments section below. View the full article

The Tel-Aviv Stock Exchange, the only public stock exchange in Israel, has announced that it is entering the crypto space and creating a platform for digital assets. “The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets,” said the CEO of the Tel-Aviv Stock Exchange. Tel-Aviv Stock Exchange Entering Crypto Space The Tel-Aviv Stock Exchange (TASE: TASE), the only public stock exchange in Israel, announced Monday its new strategic plan for the years 2023-2027. The plan was approved by the stock exchange’s board of directors. One of the four strategic goals listed was “Creating a platform for digital assets using blockchain (DLT) and venturing into crypto.” The announcement details, “TASE will promote the implementation of innovative technologies, including DLT, tokenizing of various classes of digital assets and smart contracts,” elaborating: TASE intends to examine multiple potential action plans, including conversion of existing infrastructure to innovative technologies, deployment of innovative technologies into specialized platforms, offering a basket of services and products for digital assets and more. Ittai Ben-Zeev, CEO of TASE, commented: “The plan anticipates the needs of the market and takes the development and management of innovative services and products to the next level.” He continued. “We will not only partake in the change but aim to spearhead it; we will leverage our home court advantage in Israel to adopt and develop Fintech and position TASE as a hub of services and products.” The TASE CEO emphasized: The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets. Ben-Zeev concluded: “TASE will also build up the local capital market’s activity to match Israel’s economic strength and global activity, utilizing this unique opportunity for growth and expansion of its activity.” What do you think about the Tel-Aviv Stock Exchange entering the crypto space? Let us know in the comments section below. View the full article

JPMorgan Chase’s president that crypto “is kind of irrelevant in the scheme of things.” Commenting on the U.S. economy, he defended the Federal Reserve’s hawkish stance, emphasizing that if the Fed’s action “causes a slightly deeper recession for a period of time” then “that is the price we have to pay.” JPMorgan Chase President on U.S. Economy and Recession JPMorgan Chase President Daniel Pinto commented on the U.S. economy and cryptocurrency in an interview with CNBC, published Monday. Pinto is also the global investment bank’s chief operating officer and CEO of its Corporate & Investment Bank. The 59-year-old executive grew up in Argentina as a child where inflation was often very high, he shared, noting that living with pervasive inflation was “very, very stressful.” Price increases in Argentina averaged more than 300% a year from 1975 to 1991. Pinto opined: That’s why when people say, ‘the Fed is too hawkish,’ I disagree. I think putting inflation back in a box is very important … If it causes a slightly deeper recession for a period of time, that is the price we have to pay. The JPMorgan president stressed that the Federal Reserve cannot allow inflation to become ingrained in the economy, emphasizing that a premature return to easier monetary policy risks repeating the mistakes of the 70s and 80s. Crypto Is ‘Kind of Irrelevant’ Commenting on cryptocurrency, the JPMorgan executive claims that there is little progress recently in terms of the institutional adoption of crypto. Pinto said: The reality is, the current form of crypto has become a small asset class that is kind of irrelevant in the scheme of things. However, he noted: “But the technology, the concepts, something is probably going to happen there; just not in its current form.” In contrast to Pinto’s belief, many big companies and banks are seeing increased institutional interest in crypto, and are ramping up their crypto services. Nasdaq established a crypto unit in September citing increased demand for digital assets among institutional investors. Financial giant State Street recently said that it sees unwaning demand from institutions. In May, Citi, Wells Fargo, and BNY Mellon invested in crypto firm Talos citing an acceleration in institutional adoption of crypto assets. JPMorgan Chase CEO Jamie Dimon also believes that blockchain and decentralized finance (defi) are real. However, he said that cryptocurrencies, including bitcoin, are “decentralized Ponzi schemes.” What do you think about the comments by JPMorgan Chase President Daniel Pinto? Let us know in the comments section below. View the full article

Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” In addition, the cryptocurrency may also “be entering unstoppable maturation stage,” the strategist added, expecting the price of bitcoin to continue to rise over time. Bitcoin’s ‘Unstoppable Maturation Stage’ Bloomberg Intelligence’s senior commodity strategist Mike McGlone provided his outlook for bitcoin this week. Citing rising demand, increased adoption, and regulation, he tweeted Wednesday: Bitcoin may be entering an inexorable phase of its migration into the mainstream, and at a relatively discounted price. In another tweet, he noted the declining supply of bitcoin, adding: “Bitcoin’s definable diminishing supply is unprecedented on a global scale, and so prices should continue to rise over time unless something unlikely reverses demand and adoption trends, given the laws of supply and demand.” He also tweeted: Bitcoin may be entering unstoppable maturation stage. The strategist elaborated: “The fact that Bitcoin didn’t exist in October 2007, when WTI crude oil rose to its current $84 a barrel for the first time, may indicate the appreciation advantage of the nascent technology.” “In a world rapidly going digital, the benchmark crypto is gaining value as a unique alternative asset and global collateral that’s no one’s liability or responsibility,” McGlone continued. “It makes sense for one of the best-performing assets of the past decade to drop with the most aggressive Federal Reserve tightening in about 40 years, but rising demand and adoption, declining supply and a steep relative price discount point to risk/reward leaning favorably,” the Bloomberg Intelligence strategist opined, concluding: Returning to its propensity to outperform most assets may be a matter of time, as mainstream adoption progresses and adaptive changes in U.S. accounting standards give it a lift. Do you agree with Mike McGlone? Let us know in the comments section below. View the full article

The Rugby League World Cup 2021 is held in the UK between 15 October and 19 November 2022. It is an honor for CoinEx to be a sponsor of the prestigious RLWC event and to have the opportunity to inspire rugby fans to begin their cryptocurrency trading journeys. CoinEx & RLWC Exclusive Collaboration By sponsoring the Rugby League World Cup 2021 (RLWC 2021), CoinEx has become the exclusive cryptocurrency trading platform partner of the RLWC, demonstrating its willingness to engage and establish relationships with industries other than crypto. As the exchange strives to accomplish its vision, it also respects and supports the dedication, work and passion of players from non-crypto communities. Why CoinEx chose to sponsor RLWC? The brand concept of CoinEx is to break down the financial shackles that hold back the common man and to provide a platform that everyone can use. Additionally, CoinEx’s brand philosophy adheres to the principles of sportsmanship advocated by the RLWC. In sponsoring the RLWC, CoinEx intends to cheer on all dream-seekers since it firmly believes that every individual in the world has unimaginable possibilities. As part of the upcoming RLWC 2021, CoinEx will join sports fans and crypto enthusiasts worldwide to celebrate and cheer on athletes. Together, the world will witness athletes sparing no effort to accomplish their goals as they display “Beyond Your Limits” sportsmanship. By sponsoring RLWC, CoinEx intends to help more rugby fans learn how to trade cryptocurrencies using its easy-to-use products and fast, accessible services. CoinEx & RLWC Meet-up CoinEx took the lead in holding an on-site meet-up in Manchester on 3rd October, inviting fans and crypto users to celebrate the RLWC 2021 @RLWC2021 together! Read more https://t.co/YojU1Rj3fI#CoinEx #CoinExRLWC #RLWC2021 #RugbyLeagueWorldCup pic.twitter.com/0MH0c6vdnN — CoinEx Global (@coinexcom) October 7, 2022 Why CoinEx? Why should a sports fan interested in the RLWC choose CoinEx as their preferred cryptocurrency exchange to begin their crypto trading journey? CoinEx’s vision is to make crypto accessible to the general public conveniently, e.g. a one-stop platform for blockchain assets with user-friendly features and a convenient transaction process. In addition to offering support to global traders, it serves as a gateway into the crypto world for all, including newcomers to the trading world. Additionally, along with the aforementioned benefits, there are a few other points to keep in mind when choosing CoinEx to trade on: Security enhancements: A security breach has never occurred at CoinEx since the company was founded five years ago. Security measures are implemented at several levels to ensure integrity. It is the policy of CoinEx to ensure that all crypto assets are held by users and that their assets are not misused. CoinEx is distinguished from its competitors by its commitment to protecting assets. The CoinEx platform is the market leader in terms of the number of cryptos listed: In addition to supporting more than 600 top cryptos, CoinEx offers users access to more than 1,000 markets making it a market leader in providing premium crypto trading services. Global and multilingual support: Offering trading services in over 200 countries and regions in 16 languages, CoinEx provides simple, safe, and reliable crypto trading services to over 3 million customers worldwide. The simplicity of CoinEx’s products and the number of services provided: The ease of use of CoinEx’s products is a significant benefit. On CoinEx (both the Web version and the mobile application), users can trade cryptos quickly and conveniently from wherever they are and whenever they choose. CoinEx also strives to offer simple and easy-to-use products, so users can start trading cryptos immediately with CoinEx products. Furthermore, CoinEx offers various financial services, including CoinEx Dock, AMM, and Financial Accounts. It is CoinEx’s goal to remain farsighted while providing an outstanding user experience as the market continues to evolve. Through constant product updates and improvements to the user experience, the team aims to make crypto trading services more accessible, convenient, and secure for more traders and investors. In addition, as part of its internationalization strategy, CoinEx intends to provide crypto trading services for more countries and regions on its way to becoming the world’s most user-friendly crypto trading platform. It is also CoinEx’s intention to remain abreast of industry developments and to aggressively expand its business across the ecosystem as the cryptocurrency industry continues to grow. To learn more about the platform visit www.coinex.com, and follow the team on Twitter. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

India has emerged as a leading global player in the Web3 market, a new report by Nasscom states. Web3 investments in the country grew 37 times from the start of 2020 to Q1 2022 and $1.1 trillion in Web3 economic value is projected to be added to India’s GDP by 2032. India Emerges a Leading Global Player in Web3 Market Nasscom published a report titled “The India Web3 Startup Landscape: An Emerging Technology Leadership Frontier” Wednesday. Established in 1988, Nasscom is a non-profit industry association for the technology sector in India. The organization has more than 3,000 members, representing 90% of the industry’s revenue, its website details. The report states: India has emerged as a leading global player in the Web3 market, with a competitive talent pool, high rates of adoption and products built for the world. The total number of Web3 startups in India as of the first half of this year was more than 450; they have raised more than $1.3 billion since 2020. The average deal size in 2021 was about $10 million and there were more than 70 active institutional investors in the Indian Web3 space in 2021. “Web3 focus grew rapidly in India in 2015-17 with the launch of Ethereum, in line with global growth, but grew phenomenally in 2020-21 after the national cryptocurrency ban was lifted,” the report further details, elaborating: Web3 investments grew 37x since the start of 2020 through Q1 2022. In addition, the report estimates that $1.1 trillion in Web3 economic value will be added to India’s GDP by 2032. Cryptocurrency was never banned in India. However, the central bank, the Reserve Bank of India (RBI), imposed a banking ban on the crypto industry which the supreme court lifted in March 2020. In May last year, the RBI confirmed that its crypto banking ban was no longer valid. Nonetheless, the central bank continues to have “major concerns” about cryptocurrency. “However, Indian Web3 startups see major roadblocks in scaling up due to lack of regulatory clarity and policy direction, risking India’s competitive advantage,” the report describes, concluding: Web3 will prove game-changing for economies that can bring together the right ecosystem partners to take the right steps early on to facilitate this industry. Debjani, president of Nasscom, was quoted by local media as saying: India’s rapid adoption of new-age technologies, its growing start-up ecosystem, and large-scale digitally skilled talent potential is cementing the country’s position in the global Web3 landscape. “While we are only scratching the surface when it comes to emerging tech such as Web3, the Techade will be all about the technology making significant advances leading to innovative use-cases and magnified positive impact at a grassroots level,” she opined. What do you think about India emerging as a leading global player in the Web3 market? Let us know in the comments section below. View the full article

Bitcoin’s volatility has fallen below that of the Nasdaq and the S&P 500, according to crypto data provider Kaiko. Compared to equity markets, cryptocurrency markets have become less reactive to volatile macro events, including high inflation, an appreciating dollar, rising interest rates, ongoing war, and the energy crisis, the firm explained. ‘Bitcoin Volatility Is at Multi-Year Lows’ Bitcoin has become less volatile than both the Nasdaq and the S&P 500, according to cryptocurrency data provider Kaiko, CNBC reported. The crypto data firm explained Friday that BTC’s 20-day rolling volatility has dropped below that of the two stock indexes for the first time since 2020. Clara Medalie, Kaiko’s head of research, told the news outlet: Bitcoin volatility is at multi-year lows while equity volatility is only at its lowest level since July. “Equity markets have certainly been volatile over the past few months due to high inflation, an appreciating dollar, rising interest rates, and the ongoing war and energy crisis,” she continued. Analysts expect the Federal Reserve to hike interest rates by 75 basis points for a fourth straight meeting in November. However, San Francisco Federal Reserve President Mary Daly said Friday that it is time to start considering slowing interest rate hikes. Medalie further detailed: The data suggests that cryptocurrency markets are less reactive to volatile macro events than they were earlier on in the year, whereas equity markets have remained highly sensitive. In addition, Kaiko said Monday that “The gap between BTC and equities’ 30-day and 90-day volatilities has also been shrinking since the second half of September despite BTC’s heightened sensitivity to macroeconomic data releases.” The data firm elaborated: BTC has shown resilience to a strengthening USD and surging Treasury yields, trading in a narrow range. What do you think about bitcoin’s volatility falling below that of the Nasdaq and the S&P 500? Let us know in the comments section below. View the full article

Tesla and Spacex CEO Elon Musk expects a global recession to last until the spring of 2024. Musk added that his two companies are in good positions but many others are not. “Recessions do have a silver lining in that companies that shouldn’t exist stop existing,” the Tesla boss said. Elon Musk on Global Recession Tesla CEO Elon Musk shared his thoughts about a global recession in a Twitter thread Friday. The thread was started by Dogecoin co-creator Billy Markus who tweeted: “Coronavirus numbers are actually pretty low. I guess all we have to worry about now is the impending global recession and nuclear apocalypse.” Musk commented: “It sure would be nice to have one year without a horrible global event.” Another Twitter user chimed in, asking Musk: “How long do you think the recession will last?” The Tesla boss replied: “Just guessing, but probably until spring of ’24.” The same Twitter user followed up with the question: “How much worse do you think it will get? Like a little worse or a ton worse?” Musk replied: Varies a lot. Tesla & Spacex are in good positions, but many other companies are not. Recessions do have a silver lining in that companies that shouldn’t exist stop existing. During Tesla’s third-quarter earnings call on Wednesday, Musk said that “China is experiencing a recession of sorts” and “Europe has a recession of sorts driven by energy.” Meanwhile, “North America’s in pretty good health, although the Fed is raising interest rates more than they should, but I think they’ll eventually realize that and bring them down again,” he noted. In August, Musk said that inflation has peaked but we will have a recession for 18 months. Many people expect the U.S. economy to dip into recession. A recent survey shows that 98% of chief executives are preparing for a U.S. recession while 99% are preparing for a recession in the EU. Goldman Sachs CEO David Solomon said this week that there is a good chance of a U.S. recession. JP Morgan Chase CEO Jamie Dimon recently warned that a recession could hit the U.S. economy in six months. Renowned investor Jim Rogers believes that the recession will be the worst in his lifetime. Gold bug and economist Peter Schiff cautioned that the Federal Reserve’s action could lead to market crashes, massive financial crisis, and a severe recession. Do you agree with Tesla CEO Elon Musk about a global recession? Let us know in the comments section below. View the full article

The Organization for Security and Co-operation in Europe (OSCE) has set out to teach law enforcement officers in Uzbekistan how to conduct crypto and dark web investigations. The regional body recently organized a training course for employees of the country’s security agencies in Tashkent. Uzbekistan Police and Security Agents Attend OSCE Course on Cryptocurrencies Representatives of Uzbekistan’s Prosecutor General’s Office, the Ministry of Internal Affairs, and the State Security Service have taken a training course on cryptocurrency and dark web investigations held by the OSCE between Oct. 17 and 21 in the capital Tashkent. The course was organized by the OSCE Transnational Threats Department in co-operation with the OSCE Project Co-ordinator in Uzbekistan and the Academy of the Prosecutor General’s Office, the intergovernmental security body said on its website. “Participants learned about the main concepts and key trends in the areas of internetworking, anonymity and encryption, cryptocurrencies, obfuscation techniques, dark web, and Tor networks,” the announcement detailed. They also practiced various approaches and methods for seizure of crypto assets, blockchain analysis, and darknet searching. The course was based on materials provided by the European Cybercrime Training and Education Group (ECTEG). A new computer classroom donated by the OSCE to the Prosecutor General’s Academy was inaugurated before the course by Deputy Prosecutor General of Uzbekistan Erkin Yuldashev and Acting OSCE Project Co-ordinator in Uzbekistan Hans-Ulrich Ihm. Crypto Training in Region to Continue Throughout Next Year Digital technologies have been transforming the criminal landscape, noted Evgeniy Kolenko who heads the Prosecutor General’s Academy. He insisted that educating law enforcement in this field needs a long-term and systematic approach. “Cybercrime education requires adequate equipment – both hardware and software,” added Gayrat Musaev, Head of the Academy’s Department for Implementation of Information and Communication Technologies and Information Security. Musaev also praised the new dark web lab. The OSCE course is the first of this kind in Uzbekistan within the second phase of the “Capacity Building on Combating Cybercrime in Central Asia” project funded by the U.S., Germany, and South Korea. Similar training activities will continue across the region throughout 2022 and 2023. This year, the government in Tashkent has been taking steps to more comprehensively regulate Uzbekistan’s crypto sector. In the spring, President Shavkat Mirziyoyev issued a decree providing definitions for terms like crypto assets and exchange. New registration rules for crypto miners were presented in June and earlier in October, Uzbekistan introduced monthly fees for crypto companies. Do you think law enforcement authorities in Central Asia will continue to increase focus on the crypto space? Share your thoughts on the subject in the comments section below. View the full article