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Crypto Exchange Regulation Check

DeFiance Capital Founder: Bear Market Officially Ends in 2022-2023

The founder of DeFiance Capital, a crypto investment fund, tweeted that the bear market of 2022-2023 has officially ended. He provided six reasons to support this claim:　　The worst macroeconomic tightening has passed, with a decrease in CPI and positive real interest rates. There is a higher likelihood of interest rate cuts next year.　　Institutional acceptance of cryptocurrencies as an asset class is growing, starting with BlackRocks application for a Bitcoin ETF.　　If even tokens that were considered likely to be classified as securities cannot be defeated by the SEC, the chances of the SEC labeling all tokens as securities are significantly reduced.　　Most retail investors have been eliminated, and unless there are clear unlock schedules, those who still hold are unlikely to sell in the short term.　　The market is significantly under-allocated to assets other than BTC and ETH, and there is much to be done in terms of diversification.　　Hong Kongs embrace of cryptocurrencies is real and opens the door for Asian financial institutions to enter the crypto space in a legitimate way.　　Please note that the views expressed in the tweet represent the opinion of the individual and should not be taken as financial advice. Investors are encouraged to conduct their own research and

2023-07-14Deep Dive

Bitcoin Crosses $31,700, Market Excited With Ripple’s Victory

The price of Bitcoin has hit $31,700 after a sideways period at $30,000.　　Some other large-cap coins, such as SOL, ADA, and MATIC, have also recorded growth of 15-20%.　　The main impetus comes from Ripples victory after ruling the nearly three-year-long lawsuit with the SEC.　　The Bitcoin price surged to a one-year high at $31.7k, leading to a boom for the entire market. Ripple (XRP) is a shining name.　　The largest cryptocurrency by market cap recently traded at $31,500, up 3.67% over the past 24 hours. Before that, its peak hit $31,700, the highest level in more than a year.Source: Coin360" /> 24h BTC price chart. Source: CoinMarketCap　　Inflation data barely rocked the crypto markets, but Ripples partial victory on Thursday sent Bitcoin and other significant digital assets higher.　　Partial victory for Ripple in its battle with the US Securities and Exchange Commission (SEC) in Thursdays court ruling is believed to be the main driver that sent the entire market boom by the celebratory action of investors.　　As previously updated, the US judge ruled that selling their XRP tokens on exchanges and through algorithms does not constitute an investment contract. But the Court also ruled that the institutional token sale violated federal securities laws.　　Even so, the judges

2023-07-14Deep Dive

Why Gen Z Begin To “Fall In Love” With Bitcoin ?

Gen Z is reshaping cultural trends and redefining financial models, with $360 billion in disposable income.　　Bitcoin is inherently aligned with Gen Z values such as transparency, inclusivity, and digital native tools.　　More than half of Americans aged 18-25 are involved in investing, with cryptocurrency as the most popular choice among Gen Z investors in the US.　　Gen Z, with their $360 billion disposable income, are reshaping cultural trends and redefining financial models.　　Their influence extends far beyond TikTok makeup tutorials and wacky fashion culture. Bitcoin is well-suited to Gen Z values of inclusivity, transparency, and digital native tools. This makes it a perfect fit for the generation to further boost the growth of the Bitcoin economy.　　Understanding Generation Z and identifying their values can be challenging due to different opinions about their birth range. For instance, the McKinsey report found that Generation Z includes those born between 1995 and 2010, while EY narrowed it down to 1997 to 2007. Gen Z is characterized by spending a lot of time on the internet, and they are the first generation to fully mature in the digital age, surrounded by smartphones and social networks.　　EYs Generation Z 2021 study reports that authenticity is at the top of their

2023-07-14Deep Dive

Coinbase Relisted XRP As Market Value Jumps 80% In 24 Hours

Judge ruled that XRP is not a security, and a bill was proposed to establish that tokens are separate and distinct from investment contracts.　　The relisting of XRP by Coinbase led to a significant increase in its market value, with XRP accounting for a large amount of the liquidation on the network.　　South Koreas Upbit is the largest XRP trader, indicating that Korean investors are still a major driving force behind the XRP pump.　　Coinbase relisted XRP, and its value rose by 80%. South Koreas Upbit is the largest XRP trader. A judge ruled XRP is not a security, and a bill was proposed.XRP Price – 24-hour chart, source: CoinGecko　　Recently, Coinbase announced the re-listing of XRP, and within 24 hours, its market value jumped to fourth place, rising by an astonishing 80%. The amount of liquidation on the entire network reached 237 million U.S. dollars, with XRP accounting for 52.34 million. XLM, ADA, and SOL also saw a rise in value, with XLM increasing by 57%, ADA by 22%, and SOL by 16%.　　According to Coingecko, South Koreas largest exchange, Upbit, ranks first in the trading volume of XRP, reaching $2.1 billion in 24 hours, with Binance at 1.7 billion, and OKX ranking third

2023-07-14Deep Dive

The Block：Polygon Outlines Launch of New POL Token in Latest Network Upgrade

According to The Blocks report, as part of the transition to Polygon 2.0, the founding team has proposed an upgrade token called POL and the discontinuation of MATIC. This means that as the network evolves, POL will replace MATIC as the primary token within the Polygon ecosystem.　　During the process of community approval, MATIC will be converted into Polygon (POL), which is a token capable of verifying multiple chains within the Polygon ecosystem.　　The proposed POL token aims to operate across all Polygon protocols, including Proof of Stake (PoS), zkEVM, and the Supernets. The overall goal of the upgrade is to ensure scalability of the ecosystem without compromising security. The distinctive feature of POL will be its ability to verify transactions across different chains, introducing a new level of interoperability among various protocols within the network.　　Polygon has proposed to provide token holders with a lengthy grace period of at least four years to complete the upgrade process. This approach allows users a longer timeframe to adapt to the new token. The upgrade requires community acceptance, and the migration to POL may commence within a few months.

2023-07-13Deep Dive

Bitcoin Futures Traders Losing Interest As Liquidations Hit Record Low

Bitcoin futures saw lowest liquidations since April indicating waning interest among traders.　　Just under $9M worth of futures were liquidated, with BTC making up a large share of the $28M of crypto-tracked liquidations on Tuesday.　　Large liquidations can signal the local top or bottom of a price move, which may allow traders to position themselves accordingly.　　Bitcoin (BTC) futures logged the lowest liquidations since April on Tuesday, a sign of sudden waning interest among futures traders.　　According to data from Coinglass, just under $9 million worth of bitcoin futures were liquidated. This is a relatively small amount compared to the total $28 million of crypto-tracked liquidations on Tuesday. In fact, this was among the lowest levels of liquidation weve seen so far this year.　　Liquidation means in the context of futures trading. Essentially, liquidation is when an exchange forcefully closes a trader‘s leveraged position. This happens when a trader is unable to meet the margin requirements for a leveraged position or fails to have sufficient funds to keep the trade open. This can be a risky and stressful situation for traders, and it’s important to be aware of the potential for liquidation when engaging in futures trading.　　Large liquidations can sometimes signal the local top or

2023-07-13Deep Dive

Fantom Foundation Using Axelar, LayerZero Bridge Solutions After Multichain Hack

The Fantom Foundation is facing persistent interruptions and security problems with the Multichain protocol, leading to substantial financial losses and concerns for users.　　As a response, the foundation is exploring alternative chains such as Axelar and LayerZero as network bridging technologies to reduce reliance on Multichain.　　Recent exploits resulting in significant fund transfers have prompted Multichain to temporarily cease operations, while the absence of Multichains CEO has raised suspicions of an inside job.　　The Fantom Foundation is exploring alternate chains to fuel its operations because of the persistent interruption of the Multichain protocol caused by hackers and force majeure.　　After a number of security problems involving the Multichain bridge in which huge sums of crypto assets were transferred under questionable circumstances in two distinct events, the Fantom Foundation is taking strong action. The foundation acknowledged the tough situation that the current Multichain breach had placed Liquidity Providers (LPs), token holders, and general protocol users in.　　The Fantom Foundation officially acknowledged the canonical bridge within the network. It serves as a reminder to the community of the ecosystems variety and adaptability in terms of infrastructure.　　The development prompted the foundation to recommend Axelar and LayerZero as alternate network bridging technologies. It was also said that Axelar and

2023-07-13Deep Dive

Tether Issues 1 Billion USDT On TRON Network, USDT Dominates Stablecoin Market

Tether issues 1 billion USDT on TRON network to expand presence and liquidity.　　USDTs market value surges by $2.6 billion in 90 days, holding 65% of the stablecoin market.　　Tethers strategy of expanding offerings on multiple blockchains highlights the growing demand for stable digital assets and intensifies competition among stablecoin issuers.　　Tether has made a significant move in the cryptocurrency market today by issuing an additional 1 billion USDT on the TRON network.　　This announcement comes as Tether aims to expand its presence and liquidity on the TRON blockchain.　　The news was confirmed by Whale Alert, a prominent blockchain tracker, in a tweet that provided a link to the transaction details. This move by Tether signifies its commitment to leveraging the TRON networks fast and low-cost transactions, attracting more users and solidifying its position as the leading stablecoin.　　Over the past 90 days, the market value of USDT has surged by a staggering $2.6 billion. In contrast, USDC, another popular stablecoin, has witnessed a decrease of $4.6 billion in its market value during the same period.　　Currently, USDT holds the lions share of the stablecoin market, accounting for 65% of the total market value. The latest move by Tether on the TRON network is expected to further

2023-07-13Deep Dive

Binance Labs Announces $15 Million Investment in Xterio

Binance Labs announces a $15 million investment in a Web3 gaming platform to expand its game development capabilities in the AI and Web3 domains.　　Xterio is a Web3 gaming platform and publisher based in Switzerland. The founding management team brings extensive experience from technology, Web2 gaming, and entertainment companies such as FunPlus, Ubisoft, Krafton, Jam City, and NetEase. Their vision is to bridge the gap between free games and on-chain games through innovative AI toolkits and a diverse range of in-house and third-party game suites.　　In August 2022, Xterio announced the completion of a $40 million Series A funding round. The funding was led by video game developer FunPlus, venture capital firm Makers Fund, FTX Ventures, and blockchain gaming platform XPLA. Other participants in the funding round included Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto, and Matrix Partners. Following the investment, Xterio reached a post-money valuation of $300 million.　　Binance has not disclosed the specific funding round for this investment. It is possible that Xterio pursued this funding round due to being unable to receive the remaining investment from the A-round as a result of FTXs bankruptcy.　　Currently, Xterio is developing an AI toolkit that generates stylistically consistent, high-quality 2D and 3D assets.

2023-07-13Deep Dive

Europe's First Bitcoin ETF Set to Launch This Month

According to a report by the Financial Times, Europes first Bitcoin ETF is expected to go public this month, following a 12-month delay from its planned launch.　　Jacobi Asset Management initially announced that its Bitcoin ETF would be listed on the Amsterdam-based Pan-European Exchange in July 2022. The company now states that the fund is “expected” to launch this month. The timing was previously deemed unfavorable by Jacobi due to the cryptocurrency crash of Terra Luna in May 2022 and the collapse of cryptocurrency exchange FTX in November, causing concerns.　　Michael ORiordan, Founding Partner of ETF and digital asset consultancy firm Blackwater Search and Advisory, stated that the regulatory challenges of launching a Bitcoin ETF in Europe are “very significant” due to the fact that Bitcoin is not considered a qualifying asset under the Ucits rules.

2023-07-13Deep Dive
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Crypto Exchange Regulation Check

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