Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster) Maker, the project underpinning the market’s largest decentralized stablecoin DAI, is taking big strides into the world of centralized finance. Maker is tying up with firms like Coinbase, Gemini, and Coinshares, and even buying up U.S. treasuries and corporate bonds from BlackRock (yes, that BlackRock). For example, Coinbase Prime offered to pay…
Sam Bankman-Fried, founder and chief executive of cryptocurrency exchange FTX, took to Twitter to calm the waters after his proposal for a regulatory framework for crypto made waves earlier this week. The influential crypto billionaire posted an extensive Twitter thread on Saturday, addressing some of the concerns that members of the crypto community had with the blog post he shared…
The Bitcoin (BTC) community is divided about whether the token’s price is going to surge or crash in the year ahead. A majority of analysts and technical indicators suggest it could bottom between $12,000 and $16,000 in the months to come. This correlates with a volatile macroeconomic environment, stock prices, inflation, Federal Reserve data and (at least according to Elon…
When Satoshi Nakamoto created Bitcoin, the full node client came with a wallet often referred to as Bitcoin-Qt. Nakamoto’s simplified payment verification (SPV) concept was not available until two years later, after the former Bitcoin Core developer Mike Hearn published BitcoinJ in 2011. However, prior to the first SPV client or optimized lightweight bitcoin wallet, the first phone-to-phone bitcoin transaction…
Dogechain, launched earlier this year to bring smart contract capabilities to the Dogecoin community, saw its trading value jump over 200% in the past week and more than 70 percent within the past 24 hours, according to CoinGecko. The high also represents a 75 percent premium over a month ago. Dogechain’s price climbed as high as $0.00176 on Sunday, notching…
Crypto lending platform Celsius filed for Chapter 11 bankruptcy on July 13, 2022. Although the Celsius case involves digital assets, it remains subject to United States Bankruptcy Code under the Bankruptcy Court for the Southern District of New York. While this may be, a series of unusual events have ensued since Celsius filed for bankruptcy. For instance, Chief United States…
Bitcoin (BTC) saw fresh gains on Oct. 23 as the weekend delivered a potential launchpad for the bulls. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $10 million liquidations as Bitcoin steps higher Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked above $19,500 as the weekly close approached. While modest, the $300 move punctuated otherwise flat trading behavior,…
Illustration by Mitchell Preffer for Decrypt It was another quiet week for crypto prices. No news is good news, chimes the old saying and this week it proved especially true. It turns out that Bitcoin’s recent flat prices are an indication that it is currently less volatile than equities and has been throughout October. Over on crypto Twitter, everybody was…
NFTs are often thought of as flat images, but a bidding war broke out on Friday over physical skateboards authenticated by an embedded chip. The auction—hosted by Chiru Labs, creators of the Azuki brand—allowed people to place bids in Ethereum to secure one of eight skateboards, and amassed $2.5 million in ETH. Each of the skateboards is plated in 24…
The U.S. economy has been struggling with inflation running rampant and investors are eagerly waiting for the U.S. Federal Reserve to announce the next federal funds rate hike next month. Harris Kupperman, the founder of the hedge fund Praetorian Capital, believes the onslaught of Fed rate hikes could very well “blow up the Treasury.” Furthermore, amid the gloomy macro trends,…
