“Bitcoin (BTC) is Freedom” is one of Bitcoin’s many epithets. Like “Bitcoin is digital gold,” “Bitcoin is property,” or even Bitcoin is absolute digital scarcity, these phrases ricochet around the walls of Bitcoin-themed conference arenas. They’re also memed into eternity on social media. But one of Bitcoin’s overarching mantras is “Don’t trust, verify.” Rooted in an old Russian proverb, the…
The word volatility is typically received as a negative by financial circles just the same way the name Lionel Messi is received in Brazilian favelas, yet volatility historically presents some of the greatest opportunities for gains, especially in the crypto markets. The crypto market experiences much greater price oscillations on average when compared to traditional markets, such as equities, bonds…
Russia’s largest bank Sber — formerly known as Sberbank — reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a “great alternative” to investments amid dedollarization. On Dec. 26, Sber published the news about its first issue of gold-backed DFAs. A diversified metals seller and manufacturer, Solfer, became the first investor to obtain…
For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms worldwide. $6 Billion in Bitcoin, Over $5 Billion in Ether, and More Than…
Octopus Network has announced a set of restructuring measures amid current bleak market conditions, which will see roughly 40% of its members (12 out of 30) leave its core team. The remaining team members will accept a 20% salary cut, and the Octopus Network’s team token incentive will be suspended indefinitely. Octopus Network is a project for launching and running…
After the height of the FTX collapse, the Philippine government warned investors within the country about using unlicensed crypto exchanges. The Securities and Exchanges Commission (SEC) in the Philippines issued an advisory to the public against using unregistered cryptocurrency exchanges that are operating within the country. Within the warning, the SEC did not directly mention the FTX exchange but said…
Whether the politicians currently talking tough about the latest crypto crisis agree or not on the matter, crypto isn’t dead (yet). Or at least the crypto that exists outside of a particular three-letter centralized crypto exchange isn’t dead yet. Along with a harsh lesson for many, the collapse of FTX also presents an interesting question for DeFi (which some argue is the…
The $4.5 trillion asset management firm Fidelity Investments has filed three new trademark applications covering a host of Web3 products and services, including an NFT marketplace and a crypto trading platform in the metaverse. Filed with the United States Patent and Trademark Office (USPTO) on December 21 under the serial numbers 97727409, 97727473, and 97727439, respectively, the patent applications are…
Before the rise of centralized exchanges (CEXs), over-the-counter (OTC) trading was the go-to method to buy or sell cryptocurrency for many crypto investors. The FTX collapse could trigger a bigger demand for crypto OTC services as investors are looking for alternative methods to convert from and to fiat due to weaker trust in CEXs. Cointelegraph spoke with BestChange, a Russian…
Bitcoin (BTC) is beating records this Christmas as sub-$17,000 price action sparks unrivaled pain for hodlers. Data from on-chain analytics firm Glassnode shows that both short-term and long-term investors are sitting on more losses than ever before. New or old, Bitcohodlers nurse serious losses Since the FTX meltdown sent crypto markets tumbling, BTC/USD has failed to recover. Its descent to…
