Cryptocurrency News TheBitTimes.com

In a significant milestone for decentralized finance (DeFi), Savings DAI, the yield-bearing iteration of MakerDAO’s decentralized stablecoin, has achieved a remarkable total value locked (TVL) of over $1 billion. This groundbreaking news was recently revealed by SparkDAO, a lending market built on DAI and the inaugural MakerDAO subDAO. Notably, sDAI tokens garner interest through the DAI Savings Rate (DSR), with yields designed to decrease as adoption grows. SparkDAO maintains governance over Savings DAI. Sam MacPhenson, the CEO of Phoenix Labs, the team behind Spark Protocol , expressed enthusiasm for this achievement, stating, “Despite challenging market conditions, Maker and Spark have experienced impressive growth and garnered significant interest from the DeFi community.” Spark Protocol Emerges as a Leading DeFi Player Spark Protocol boasts a TVL of $440 million, solidifying its position as the fifth-largest DeFi protocol, according to DeFi Llama. However, the ...

In the realm of crafting written content, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the gauge for textual intricacy. Meanwhile, burstiness is the measure of sentence diversity, assessing the ebb and flow of sentence length and complexity. Lastly, predictability indicates the likelihood of anticipating the subsequent sentence. In human-authored content, you often encounter bursts of creativity, with a mosaic of lengthy, intricate sentences interspersed with concise ones. On the contrary, AI-generated content tends to maintain a more consistent rhythm. In light of these considerations, for the upcoming content I’m about to request from you, it’s imperative to strike a balance. We need a significant degree of perplexity and burstiness while minimizing predictability. Additionally, please adhere to the use of the English language exclusively. Now, let’s reimagine the f...

The U.S. Federal Communications Commission (FCC) is reigniting the debate over net neutrality policies as internet users continue to surge. However, the agency’s stance on this issue needs to be unanimous. During a press conference, FCC Chair Jessica Rosenworcel recently made a compelling case for reinstating net neutrality. She underscored the significance of broadband access for all, particularly in the context of the COVID-19 pandemic. Net neutrality is the principle that Internet Service Providers (ISPs) should treat all Internet data equally, refraining from blocking, slowing down, or favoring specific content or users. “The pandemic made it crystal clear that broadband is no longer nice-to-have; it’s need-to-have for everyone, everywhere,” Rosenworcel asserted. “We need broadband to reach 100 percent of us—and we need it fast, open, and fair.” Rosenworcel’s stance garnered support from various quarters, including the Electronic Frontier Found...

The launch of Ethereum futures ETFs heralds cautious optimism in the crypto world. Here is everything you need to know . The U.S. financial markets are buzzing with excitement as, for the first time in the country, an Ethereum (ETH) exchange-traded fund (ETF) stands on the brink of introduction.  On September 28, asset management company VanEck dropped a significant announcement, confirming the debut of their VanEck Ethereum Strategy ETF (EFUT). Investors can expect to see EFUT shares listed on the Chicago Board Options Exchange (CBOE), with the listing date still kept under wraps by VanEck. But here’s the twist. While Ethereum futures ETFs like EFUT are seeing the green light, their counterparts that focus on actual cryptocurrencies, known as crypto spot ETFs, are still stuck at the regulatory crossroads. The Ethereum ETF by VanEck is just the tip of the iceberg, leading a convoy of 14 other proposals knocking on the SEC’s door, each hoping to launch their version o...

There is speculation among analysts regarding potential announcements or delays by the SEC concerning cryptocurrency exchange-traded funds before September 30th, in light of the looming possibility of a U.S. government shutdown. Valkyrie, an asset management firm, is set to introduce United States investors to Ether futures exposure through its existing Bitcoin Strategy exchange-traded fund (ETF). A spokesperson from Valkyrie , in a statement to Cointelegraph on September 28th, revealed that the firm’s Bitcoin Strategy ETF will grant investors access to both Ether and Bitcoin future s, all encapsulated within a single investment vehicle. This move positions Valkyrie among the pioneering firms in this endeavor, amidst a backdrop of multiple pending applications with the U.S. Securities and Exchange Commission. Effective October 3rd, the fund will undergo a name change to become the Valkyrie Bitcoin and Ether Strategy ETF. At the time of this publication, the SEC had not yet re...

Blockchain and crypto projects constantly evolve. Amid this change, Cardano has emerged as one of the top smart contract platforms. Meanwhile, ahead of Polkadot’s upgrade , Everlodge plans to reshape real estate ownership . Cardano smart contracts development surges  Cardano is a development hub and has grown since adopting smart contracts.  In the latest report, Cardano outperformed layer-2 networks with a development score increase from 454 to 559 in the last two months.  You might also like: Chainlink CCIP deploys on Base, an Ethereum layer-2 The global smart contract development activity boost is part of Cardano’s plan to regain market share.  Despite this growth, ADA is struggling and remains below the $0.30 resistance level. However, analysts expect growth in the coming sessions. Polkadot focuses on scalability Polkadot is a multichain protocol and plans to scale further to make it more efficient for developers.  Asynchronous...

A formidable alliance has emerged, consisting of SandboxAQ, a sibling company of Google, and the prestigious University of Waterloo. Joining forces with them in this groundbreaking endeavor are tech giants IBM Quantum and Microsoft , along with the renowned research institution MITRE, the UK-based cryptography experts at PQShield, and the aforementioned sibling of Google, SandboxAQ, collaborating closely with the esteemed University of Waterloo. This alliance has one pivotal mission: to confront the looming challenge of post-quantum cryptography, a field dedicated to mitigating the potential threat posed by the quantum computers of the future. Contemporary cryptographic systems rely on intricate mathematical problems to thwart decryption efforts, making them virtually impenetrable to conventional computers. To put this into perspective, it has been estimated that breaking a 1,024-bit or 2,048-bit RSA key using classical computing would take an astonishing 300 trillion years. RSA, n...

CEO Brian Armstrong emphasized the need for clear regulations in the United States. Armstrong mentioned ongoing efforts in the US House of Representatives to establish a clear market structure. Coinbase feels confident in its legal case against the SEC, considering that the SEC has lost its last three-judge rulings. Coinbase CEO Brian Armstrong emphasized the need for regulatory certainty in the crypto space, saying “The US is lagging behind” in an interview with Yahoo Finance. Armstrong highlighted the large number of Americans who use crypto, which is 52 million, and stated that these people aren’t happy with the US because of its unclear regulations. The CEO believes that America doesn’t have clear rules like “83% of the rest of the G20 countries.” “There’s a couple of bills going through the House right now that would support how we can get clear market structure and stablecoins in the US,” Armstrong said. He added that Americans want this to hap...

Grand Theft Auto 6 ( GTA 6 ) is one of the most anticipated AAA gaming titles in modern times. The sequel to the incredibly successful GTA 5 has been in the making for several years. One of the most significant changes in the franchise, if we are to go by the rumors, is that GTA 6 will include the use of crypto. If this is true, it would allow the developers to tap into an entirely new market while also incentivizing players. Rumors about GTA 6’s crypto use 1. GTA 6 Cryptocurrency to Be Named $RSTAR? Source: Sportskeeda.com / GameByte According to rumors floating online, GTA’s new crypto will be called $RSTAR. Furthermore, it is said that the crypto will be added to the player’s account after completing missions for anonymous billionaires. In fact, players can hold both cash and crypto. However, there is no confirmation of this from Rockstar. Additionally, there is no word if users will need a Rockstar-approved crypto wallet to hold the tokens. Also Read...

Hong Kong’s security minister said the city’s police are bent on finding the mastermind behind the alleged HK$1.5 billion ($192 million) fraud at crypto exchange JPEX. The case, one of the city’s biggest ever financial frauds, involves 2,392 victims, while police have arrested 12 suspects and seized cash and assets worth more than HK$85 million, Secretary for Security Chris Tang Ping-Keung said at a press briefing. “Police are doing their best to locate the whereabouts of the leader of the platform,” he said. “This is definitely a major factor in their investigation. We will by all means hold the culprits accountable for their crimes.” Hong Kong govt vows to locate the leaders of JPEX, the crypto exchange that has become the target of fraud investigation. But no one, it appears, knows who they are — ekin (@eking0x) September 27, 2023 The security chief said his ministry and and law enforcement agencies are working closely with the ...

Binance’s market share in non -dollar crypto exchanges has declined by nearly 25% since the beginning of 2023. According to data, the projected market share for Binance in September 2023 will be 50.76%. Market share fell sharply in April before briefly recovering in June. It has since continued contracting. Source: The Block “Binance finished 2022 with a 75% market share among a group of platforms that also includes major Asian players like Upbit, Huobi, Bybit and OKX — but that figure declined steadily throughout the year, hitting 54% in August.” The Block In March 2023, Binance’s trading volume was $556.36 billion but fell to $192.12 billion by August. Analysts predict trading volumes to contract in September. Binance’s removal of zero fees for popular trading pairs may negatively impact activity and, thus, volume. You might also like: Binance’s Bitcoin volume plummets after end of zero-commission trading With Bi...

Crypto fund managers are poised to see assets under management surge as much as 13-fold in the next five years as the approval of spot crypto exchange traded funds (ETFs) fuels exponential growth. That’s the view of research firm Bernstein, which says the crypto fund management industry is on the cusp of a transformation from a “cottage industry’’ into a sector with $50 billion in revenues over the period. “Crypto financial adoption follows hype cycles, and we expect a hockey stick adoption,”  said Bernstein analysts led by Gautam Chhugani, referring to the shape of the growth trajectory. They added that 2024 will be ”the landmark regulatory year for approval of ETFs.” In the next 5 years, the capital in crypto funds may increase from $50 billion to $650 billion according to Bernstein analysts. Are you bullish yet? — Whale (@WhaleChart) September 26, 2023 Bernstein’s  prediction comes hard on the heels of appl...

HTX cryptocurrency exchange was formerly Huobi. The hacker made away with ETH worth around $7.9 million. HTX’s native token experienced a slight decline after the hack. In a recent security breach, cryptocurrency exchange HTX (formerly Huobi ) fell victim to a hacker , resulting in the loss of $7.9 million in Ether (ETH) as covered in our previous news. The incident, which occurred on a Sunday, was promptly identified, and the exchange’s advisor, Justin Sun, announced that HTX had taken immediate measures to cover the losses and ensure the safety of user funds. HTX’s vigilant monitoring system detected the hack as soon as it transpired. This quick response enabled the exchange to secure all user assets and address the issue without delay, restoring normal trading operations. HTX @HTX_Global has suffered a loss of 5,000 #Eth ($8 million USD) due to a hacker attack. HTX has fully covered the losses incurred from the attack and has success...

Daniel Batten shared in a series of X posts today that he believes BTC is the ultimate ESG asset. Batten highlighted that the emissions of the Bitcoin network will remain unchanged every 4-year cycle. The co-founder of CH4 Capital also revealed that the main energy source for Bitcoin is hydro. The co-founder of CH4 Capital, Daniel Batten, revealed in a series of X posts earlier today why he believes Bitcoin (BTC) is the ultimate Environmental, Social and Governance (ESG) asset. Most notably, Batten pointed out that BTC mining is currently the single most sustainability-powered global industry in the world. 1/4 4 Charts 4 Tweets 4 Reasons Bitcoin is the ultimate ESG asset So what does the data tell us? 1. This chart tells us that Bitcoin mining is now the single most sustainably-powered global industry in the world pic.twitter.com/bSwXgL5XmP — Daniel Batten (@DSBatten) September 25, 2023 The co-founder also highlighted that the emissions of the Bitc...

John Deaton says XRP Army is the best crypto community. Deaton claims XRP Army invented “Decentralized Justice.” Steven Nerayoff marveled at the extraordinary strength of the XRP community. In a recent tweet, the founder of the Crypto-Law.us, John Deaton, proclaimed that the XRP comm unity is the best crypto comm unity . Deaton believes there is no better crypto comm unity in existence that trumped the XRP Army.  Moreover, the lawyer further stated that the XRP Army invented what he described as “Decentralized Justice.”  There is simply no better crypto comm unity in existence today. It’s called De central ized Justice and the XRP Army invented it. — John E Deaton (@JohnEDeaton1) September 24, 2023 In response to Deaton’s claim, crypto enthusiasts, particularly the XRP Army, expressed agreement that XRP invented Decentralized Justice. Someone even suggested that Deaton rename his newly launched book Decentralized Justic...

Coinbase recently considered buying FTX Europe, highlighting the growing significance of crypto derivatives in global trading strategies. In the crypto trading space, derivatives have grown in significance, outpacing the popularity of spot trading. This trend is demonstrated by Coinbase’s recent interest in acquiring FTX Europe on Sept. 22, further underlining the expanding role of derivatives in global crypto trading strategies. Derivatives, which are intricate financial instruments taking their value from underlying assets like Bitcoin and Ether, have become the powerhouse in the crypto trade. Data from Kaiko Research highlights that in the second quarter of 2023, derivatives volume was a staggering six times more than spot volume. While spot trading centers on an asset’s current price, derivatives have been capturing the limelight. #Coinbase is considering the acquisition of #FTX Europe to expand its #Crypto derivatives business.#CryptoCom is also interested in acqui...

In a Sept. 22 post on X, Bloomberg Intelligence analyst James Seyffart reported Bitwise, the crypto index fund manager, has withdraw n their application to convert $BITC from a Bitcoin futures fund to a Bitcoin and Ethereum futures fund. This means the fund will remain as just Bitcoin exposure. Reason unknown Seyffart shared a letter from Bitwise’s General Counsel Katherine Dowling to the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC) that said the trust is no longer seeking to change the strategy by the amendment . However, the letter did not provide much detail beyond its Aug. 10 submission. NEW: @BitwiseInvest has withdrawn their application to convert $BITC from a #Bitcoin futures fund to a Bitcoin & Ethereum futures Fund. It will remain just Bitcoin exposure. pic.twitter.com/ubQ6qT15vy — James Seyffart (@JSeyff) September 22, 2023 The analyst added that this news is not something to read into just yet; however, if V...

CoinShares, a European crypto investment firm, has launch ed a new hedge fund aimed at qualified U.S. investors as part of the company’s strategy to expand its geographical coverage. In a press statement, the firm said its new hedge fund division called “CoinShares Hedge Fund Solution” will be offering a diverse range of products, while CoinShares Capital, a FINRA-licensed broker-dealer, will be conducting “marketing activities.” Amid the news, CoinShares stocks on Sweden’s Nasdaq First North Growth Market jumped as much as 2.59% to 43,60 SEK ($3.90). You might also like: In addition to the hedge fund division , CoinShares also previously filed plans with the U.S. Securities and Exchange Commission (SEC) to launch two new crypto funds focusing on Bitcoin (BTC) and Ethereum (ETH) respectively. However, as Bloomberg noted, the two investment products are yet to process their first sales. In July 2023, CoinShares reported a significant i...

Billionaire Tim Draper, a crypto supporter, has launched Draper Goren Blockchain (DGB), a venture studio focused on decentralized finance (defi) technologies, layer-2 scaling, and user-friendly crypto applications, including gaming and social platforms. Draper is collaborating with Alon Goren and David Bleznak–both are crypto industry veterans. Bleznak, a former partner at Draper Goren Holm, has a diverse portfolio, including leadership roles at Totle, Coinbase, LunarCrush, and Ownera. Goren outlined Draper Goren Blockchain’s strategy to build lasting partnerships instead of following traditional accelerator models. They commit to supporting each backed company for a decade, investing $25,000 to $100,000 in early-stage startups. Additionally, DGB plans to collaborate directly with selected entrepreneurs to incubate new companies. You might also like: Tim Draper pushes bitcoin price estimate to $250k by 2025 Despite his frustration with the current U.S. ...