Month: May 2021

The remaining steps to mainstream institutional investment

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It has been said that you only get one chance to make a first impression. Perhaps the best example of this old adage is the cryptocurrency space.  From exit scams and money laundering, to unaudited code and high carbon footprints, the crypto landscape has spent the better part of the past decade scrubbing itself of its infamous past. For many, the sanitizing of the decentralized ecosystem was inevitable — simply a matter of when, not if. This mindset hindered the sense of urgency that should have been on display and…

3 reasons why Polygon (MATIC) outperformed Bitcoin and major cryptos this week

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Polygon (MATIC) is on a tear. In the past seven days, it has gained 35% in the past seven days, outperformed every major cryptocurrency apart from Uniswap. There are several big reasons behind the strong uptrend of MATIC, including the growing hype around Polygon, Google BigQuery announcement, and Mark Cuban’s investment. MATIC 1-day candle chart (Binance). Source: TradingView.com Growing sentiment and hype around Polygon On Feb. 9, Matic first announced its plans to rebrand to Polygon. At the time, they brought in promising metaverse projects and integrated Matic Plasma Chain.…

The future of digital asset liquidity: Centralized or decentralized?

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Last month, Bitcoin (BTC) reached above $60,000, highlighting the current frenzy around digital currencies. Following BTC, altcoins also saw substantial increases in value. All of this is music to the ears of long-term and short-term bull investors seeking increased gains, even with the current pullback and support of Bitcoin hovering around $40,000.  However, despite all the hype around the current bull run, a lack of digital asset liquidity continues to be a significant challenge for exchanges, traders, token issuers and market makers. The reality of today’s market is that professional…

S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi

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Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme.  “The SEC’s complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws,” the release reads. The promoters, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble are said to have “advertised the merits of investing in BitConnect’s lending…

Stablecoin company earns record-level investment sum for a crypto outfit

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Crypto companies have been on the rise in tandem with the industry’s growth in recent years. A report from Forbes recently detailed a number of large investments into blockchain and digital asset entities, with one $440 million play rising to the forefront.  “Circle, creator of the second-largest stablecoin, USDC, has just raised $440 million in private investment from an array of private equity, institutional and strategic investors,” Forbes wrote on Friday. Circle inked the deal on Friday, capturing investment from Fidelity Management and Research company, FTX, and others. The article…

SEC Charges Five Individuals Tied to BitConnect Scam

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Key Takeaways The U.S. SEC has charged five individuals with connections to the crypto Ponzi scheme BitConnect. BitConnect was mainly active in 2017. It raised more than $2 billion during the year that it was operational. Regulators initially took action against BitConnect in 2018. Share this article The U.S. Securities and Exchange Commission has charged five individuals in connection with the Ponzi scheme BitConnect. SEC Charges BitConnect Promoters The SEC says that from January 2017 to January 2018, BitConnect sold its cryptocurrency securities through four main promoters: Trevon Brown (aka…

Vitalik argues that proof-of-stake is a ‘solution’ to Ethereum’s environmental woes

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At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late. In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x. The comments come amid a period of rampant…

Bearish signals grow as Bitcoin price drops to $35K and traders ignore the dip

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The cryptocurrency market faced a new wave of selling pressure on May 28 as Bitcoin (BTC) price dropped to $35,100 and traders seem generally disinterested in buy the dip ahead of the weekend. Despite the downside moves seen across the market over the past couple 2 weeks, institutional investors have for the most part held firm in their resolve to stay committed to cryptocurrencies but the absence of ‘we bought the dip’ announcements have retail traders wondering if Bitcoin price is in for further downside. BTC/USDT 4-hour chart. Source: TradingView…

How Livepeer traders got a sneak preview of an impending 300% price boom

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Crypto traders will take any edge they can get. From fundamental research on long-term prospects to short-term price pumps created by new exchange listings, the 24/7 digital asset market provides opportunities for investors and traders of all stripes. But this week, those traders who incorporate the Cointelegraph Markets Pro VORTECS™ Score into their research had a special reason to celebrate the inherent volatility that makes risk-averse traders cringe… and seasoned crypto pros pop champagne corks. LPT, the Ethereum-based native token of decentralized video streaming network Livepeer, has seen some extraordinary ups…