According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used to acquire Blockfi at a variable price up to that amount. FTX Could…
Month: July 2022
Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC?
Bitcoin (BTC) has been moving in the opposite direction of the U.S. dollar since the beginning of 2022 — and now that inverse relationship is more extreme than ever. Bitcoin and the dollar go in opposite ways Notably, the weekly correlation coefficient between BTC and the dollar dropped to 0.77 below zero in the week ending July 3, its lowest…
The crypto industry needs a crypto capital market structure
The past few weeks have been interesting and have surfaced what we in the financial services industry call matters requiring attention, or MRAs. An MRA describes a practice that deviates from sound governance, internal controls and risk management principles. These matters that require attention have the potential to adversely affect the industry and increase the risk profile. I have always…
What is a bull trap, and how to identify it?
Here’s how to spot a bull trap with some tell-tale indicators that one is on the way: RSI divergence A high RSI might be an indication of a potential bull or bear trap. A relative strength index (RSI) calculation may be used to identify a possible bull or bear trap. The RSI is a technical indicator, which can help determine…
6 Questions for Alyssa Tsai of Panony – Cointelegraph Magazine
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Alyssa Tsai, founder and CEO of Panony — an incubator, investor and adviser for blockchain and Web3 business. My name is Alyssa…
Tax Agency Starts Checking Crypto Traders in Romania – Taxes Bitcoin News
Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million of undeclared crypto gains. Tax Authority in Romania Verifies Gains From Cryptocurrency Trading Romania’s…
Crypto’s ongoing crisis is an opportunity for realignment
It’s not a great day to be in crypto. Perhaps you’ve seen an article (or 20) about this. Perhaps you’ve been on Twitter, where our detractors are cackling gleefully over every headline, each one more harbinger-of-doom-esque than the next. To be fair, things are going badly. Crashed, collapsed, erased, plunged, obliterated and imploded are the operative verbs in most coverage,…
Laminate This: What to Say to Crypto Haters
They’re back. As the crypto bear market worsens, the haters are coming out of the woodwork again to sneer at an industry they’ve long insisted was nothing more than an overhyped scam. Veteran crypto users have seen this movie before. It happened in 2010, 2014, 2018, and it’s happening right now: Media pundits and casual observers—many of whom know nothing…
Kuwait-Based Islamic Bank Enters the Metaverse – Metaverse Bitcoin News
Warba Bank, a Kuwait-based Islamic bank, recently became the latest corporation from the Middle East and North Africa (MENA) to enter the metaverse. The bank now occupies two sites in the metaverse, one Decentraland and another one on Sandbox. Pioneering Digital Transformation In what has been described as a first for an Islamic bank, the Kuwait-based Warba Bank recently said…
Web3 Leads to Cybersquatting 2.0: Here’s What Brands Can Do
About the author Vivek Jayaram is the founder of Jayaram Law, a firm advising groundbreaking artists, Web3 entrepreneurs, financial tech and new media executives, and the companies they run. Ever wonder why so many Web2 company names are vowel-less derivatives of dictionary words? Consider: Flickr, Tumblr, or even Twitter (originally named Twttr). In some cases, the tweak is easier to…