DeFi News Today Official TheBitTimes.com

Are regulators trying to disarm crypto-native companies in order to pave the way for Blackrock to steamroll the industry? There is no doubt that BlackRock’s spot Bitcoin exchange-traded fund (ETF) application — and the flood of contenders that followed — has buoyed the bulls. It could signal the winds of change in the regulatory sphere, they say. It could bring Bitcoin exposure to the masses, they holler.  While there might be some truth in these statements, we need to take a step back and look at the bigger picture. We should not be in a world where the mere possibility of a spot Bitcoin ETF coming to fruition in the United States sends markets into overdrive. BlackRock’s potentially oversized impact on Bitcoin’s (BTC) price trajectory should give everyone in the Bitcoin community pause for thought rather than be a cause of celebration. A spot Bitcoin ETF would clearly be a simple way for U.S. retirement funds to gain exposure to Bitcoin’s upside, and it’s very possible that an appro...

South Korea Virtual Asset User Protection Act Passed South Korea ’s National Assembly passed the “Virtual Asset User Protection Act” during the plenary session on June 30. The legislation combines 19 crypto-related bills which define digital assets; penalties for crimes such as the use of nonpublic information, market manipulation, and unfair practices; and gives more oversight power to the Financial Services Commission (FSC). It is the first domestic legislation on virtual assets in the country that protect virtual asset users and restrict all unfair transactions. The crypto asset bill was passed by the Political Affairs Committee of the Korean National Assembly in May and the Judicial Committee of the Korean National Assembly on June 29. “We will prepare for the second phase of legislation for virtual assets before the law is implemented. We will actively negotiate with relevant agencies such as the Ministry of Strategy and Finance, the Ministry of Science ...

Chiru Labs’ Azuki NFT collection witnessed a steep 44% drop in floor prices within a 24-hour period as holders and market observers criticized the newly launched Elementals NFT collection. Community responses indicated a prevailing sentiment that certain NFTs in Elementals bore striking resemblances to the previously released Azuki collection, despite the initial branding distinctions. Stiking similarities Azuki, the non-fungible token (NFT) brand first launched in January 2022, launched its “Elementals” NFT collection on June 27. The new collection was announced to feature 20,000 editions as a derivative of Azuki’s popular original collection.  However, with ambitious promises made earlier this year, including plans for a metaverse platform, interactive experiences, and physical merchandise, among others, many collectors took to social media to express their disappointment in the strikingly similar appearance between the main collection and the new one. O...

Join Our Telegram channel to stay up to date on breaking news coverage Ant Group stands as the financial affiliate of Alibaba, the Chinese e-commerce giant. Recently, the tech group has filed an Initial Public Offering (IPO) in both Shanghai and Hong Kong. While this is all well and good, it could stand as being the largest IPO in history. Aiming To Overtake Saudi Aramco In Largest IPO Ant Group was created by Jack Ma, the co-founder of Alibaba. As it stands now, the Group is aiming for a valuation of $226 billion for the company. This can be gleaned from its target IPO, which aims to raise almost $30 billion in funding, which was reported by Bloomberg, citing sources close to the matter at hand on the 25th of August. This IPO stands as possibly the largest of its kind in history, potentially overtaking Saudi Aramco, the multinational gas and oil giant based in Saudi Arabia. Saudi Aramco managed to raise $29.4 billion this year. As Bloomberg’s data show, should this target val...

In a world where digital transactions are becoming the norm, it’s essential for businesses to stay ahead of the curve. The largest and most well-known company facilitating this progressive shift is CryptoProcessing.com. This product, developed by CoinsPaid, provides innovative cryptocurrency payment solutions that can be integrated into various business models, from eCommerce to iGaming. As the digital economy continues to grow, CryptoProcessing.com presents itself as an invaluable tool for businesses navigating this changing landscape. The service converts over 20 different digital currencies into traditional fiat currencies, enabling businesses to withdraw their funds to a bank account. This is a turnkey solution, working through an API and abiding by the mandatory Know Your Business (KYB) procedure during setup.  Today, we’ll be taking a look at the advantages in connecting crypto processing, in the context of CryptoProcessing.com, notably examining those specific to...

Weak derivatives metrics, declining TVL and Dapps use, put Ethereum bears in a better position to keep ETH price below $2,000. Ether (ETH) price faced strong resistance at $1,920 after the 17.5% rally between June 15 and June 22. A number of factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory cryptocurrency environment, and weaker demand for decentralized applications (DApps) on the Ethereum network. ETH price faces macroeconomic headwinds On June 26, a federal judge denied a motion from Binance that could have stopped the U.S. Securities and Exchange Commission (SEC) from issuing public statements related to the case. In addition, in its midyear outlook, HSBC Asset Management’s report warned of an economic downturn in the United States in the fourth quarter, followed by a “year of contraction and a European recession in 2024”. The report also noted that “corporate defaults have started to creep up.” Finally, IMF Chief Economist Git...

1/ Moving $USDC natively to @Arbitrum just got that much easier. Cross-Chain Transfer Protocol (#CCTP) is now live on Arbitrum, enabling direct transfers to-and-from @Ethereum and @Avax. #BuildOnCircle https://t.co/ry7mMMYFvX advertisement — Circle (@circle) June 27, 2023 The CCTP Advantage on Arbitrum Circle created the CCTP to enable the USDC stablecoin move freely in and out of blockchains to open up more accessibility to traders across the board. The CCTP brings a boatload of benefits to give it a competitive edge which includes capital efficiency. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read ...

Join Our Telegram channel to stay up to date on breaking news coverage BitGo, CoinMetrics, and KPMG have entered into a partnership that will help manage the risks in public block chain networks. According to the announcement, the partnership will use Coin Metric’s data and intelligence products, BitGo’s custody technology, and KPMG’s Chain Fusion services. FARUM to help monitor risks In connection to the offering, Coin Metrics has revealed the rollout of new product suites it calls FARUM. The platform will enable BitGo’s present and future users to manage and monitor risks on networks such as Ethereum and Bitcoin. Arun Ghosh, head of Block chain for One Americas at KPMG, said the company is excited about the partnership and the launch in the market. According to him, it’s a vital step towards the use of an integrated solution to unit core capabilities in the industry. “We are thrilled to launch a combined offering to the market,” he stated. He added that FARUM is bringing...

The ripple influencer scandal was made public by Darkhorse. Most well-known brands include influencer promotion in their marketing strategies. Ripple’s reputation is in jeopardy, as is its capacity to refute the SEC’s allegations. A recent alleged influencer scandal involving Ripple has made headlines in the crypto world. The scandal was made public by Darkhorse, a cryptocurrency investigator who claimed to have discovered evidence that Ripple was paying influencers to promote its cryptocurrency XRP on social media platforms. According to the investigator, Ripple paid popular influencers to post positive tweets about XRP without disclosing that they were paid to do so. This claim was opposed by Mr. Huber, a cryptocurrency investigator, on Twitter: You know I like to get me worked up about Ripple too, e.g. at the Liquidity HUB. But honestly I can't quite understand the anger about this. I think people just read the headline and see something high...

Michelle Bowman, a governor of the Federal Reserve System, has raised concerns about the potential risks financial institutions face due to uncertainty surrounding digital assets and the impact of rising interest rates. During her speech at the Salzburg Global Seminar on banking regulation and oversight, Michelle Bowman emphasized the need for increased attention from international regulators regarding the supervision of modern banking operations and digital asset s. She highlighted a regulatory gap that exists in the banking sector when it comes to new technologies. Speech by Governor Bowman on bank regulation and supervision: https://t.co/LzwsKieEcx — Federal Reserve (@federalreserve) June 25, 2023 Despite efforts to clarify the legal and regulatory aspects, there is still considerable uncertainty surrounding digital asset operations. Bowman expressed worry that banks may put themselves at risk by relying on vague statements issued by officials that lack binding force...

According to Jez Mohideen, the CEO of Laser Digital, the ongoing regulatory debates surrounding crypto currencies will play a crucial role in determining the future trajectory of institutional adoption in this sector. As firms continue to explore and experiment with tokenization, it remains a key area of interest within the industry. Japan-based financial giant Nomura launched Laser Digital last September. The crypto company was set up to initially focus on investing in firms within the DeFi, centralized finance, Web3 and blockchain infrastructure segments.  A recent survey conducted by Laser Digital, which included professional investors managing approximately $5 trillion in assets, revealed that 82% of respondents hold a positive view of the digital asset class. In particular, they expressed optimism for the performance of bitcoin and ether over the next 12 months. The internal findings, seen by Blockworks, included responses from wealth managers, family offices, insurance ass...

In 2021, Franklin Templeton introduced a money market fund that used a public blockchain to record transactions. This marked the beginning of the financial institution’s exploration of cryptocurrency’s underlying technology. Roger Bayston, head of digital assets at Franklin Templeton, told Blockworks the company is working with the SEC to unlock “a rich set of features” that blockchain tech enables for mutual funds, including efficiency gains and, in turn, potential lower fees. Going forward, such funds could be used alongside stablecoins, or even an alternative to them, he added.  “The learnings we are having by just doing [research and development] activity inside of blockchain and assembling development technology resources, gives us confidence that the blockchain seems to enable and probably refresh the ‘40 Act mutual fund and create continued relevance for it as an investment tool.”   A ‘refresh’ to the mutual fund  The $1.4 trillion asset manager’s OnChain U.S. Government M...

Hedera (HBAR) Price Prediction June 2023: Analyzing the Future of the Hedera Hashgraph Network In recent years, the cryptocurrency market has experienced significant growth and innovation. One such project that has gained attention is the Hedera Hashgraph network, which offers a unique approach to decentralized applications (dApps) and transaction processing. With its declared throughput of 10,000 transactions per second, Hedera Hashgraph aims to provide a scalable and efficient solution for various industries. In this article, we will dive into the world of Hedera Hashgraph and analyze its price prediction for June 2023. We will explore the historical performance of HBAR, the native cryptocurrency of the network, and examine various factors that could influence its price in the coming months. So, if you’re interested in investing in Hedera or simply curious about its future, keep reading to gain valuable insights. Source: exodus.com Hedera Hashgraph: A Brief Overview Hedera Hashgraph ...