Decentralized Exchange on Ethereum Is Not Sustainable – FTX CEO

Despite this summer’s success for Ethereum (ETH)-based decentralized exchanges (DEXes) like Uniswap and its fork SushiSwap, the SushiSwap saviour and CEO of centralized crypto derivatives exchange FTX, Sam Bankman-Fried, argued that Ethereum – as it is now – is not the best place to host an exchange. Speaking at the LA Blockchain Summit yesterday, he said that

No DeFi Bubble, But Merely ‘a Blip’

Despite people arguing that a bubble is currently deflating in the decentralized finance (DeFi) space, the popular author and crypto venture capitalist Chris Burniske suggested remembering 2017 to get a better perspective of what a bubble really is. Burniske, who is a partner in the crypto-focused venture capital firm Placeholder, argued that “bubbles are easy

Coinbase-backed Dapp Wallet Authereum Goes Live

Source: Adobe/Prostock-studio Coinbase Ventures and other investors-backed Authereum, a new Ethereum (ETH) wallet focused on improving the user experience for decentralized applications (dapps), has come out of its Beta phase, the team behind the wallet announced today. According to Authereum’s official documentation, the new wallet solution has been designed in order to create “a seamless

DeFi Darling yearn.finance Crashes 60% From ATH, Analysts Still Optimistic

Known as one of the hottest decentralized finance (DeFi) tokens of the year, yearn.finance’s YFI token is now down by close to 60% from its all-time high just over three weeks ago. At the time of writing (11:50 UTC), YFI was down by 6% over the past 24 hours, and down by just over 31% over the past 7 days, trading at USD 17,990. The losses seen over the past week made the

BitMEX Open Interest Drops, Withdrawals Increase

The troubled major crypto derivatives exchange BitMEX has seen large drops in both open interest, and bitcoin (BTC) balances held on the platform. Following the news last week that three owners of BitMEX and five related companies charged with operating an unregistered trading platform and violating multiple regulations, the exchange almost immediately saw a drop in open

Regulators May ‘Disallow Trading on DEXs Entirely,’ Investor Warns

Source: Adobe/ON-Photography If regulators find DeFi to be “unconscionably unpoliceable” due to a prevalence of spoofing and other market manipulation techniques, their next step may be to ban trading on decentralized exchanges (DEXes) altogether, CEO of Singaporean crypto fund manager Three Arrows Capital, Su Zhu, warned. In a recent blog post, he said that while spoofing is currently not a

Stocks ‘May Very Well’ Become Tokenized – SEC Chairman

Jay Clayton. Source: Twitter, SEC The US Securities and Exchange Commission (SEC) invited innovators in the crypto space, saying that “our door is wide open” and that publicly traded stocks “may very well” become tokenized in the future. The positive stance from the SEC was ushered by Chairman Jay Clayton, who on Friday participated in a virtual conference on innovation & regulation

Gold Rises, Bitcoin Drops as Trumps Test Positive for COVID-19

Donald Trump. Source: a screenshot, Instagram/realdonaldtrump US President Donald Trump confirmed that he and First Lady Melania Trump have both tested positive for COVID-19. Following the news, bitcoin (BTC) dropped and gold rose in the markets. The President and the First Lady reportedly contracted the virus after Hope Hicks, known as one of the President’s closest advisors, was confirmed to

Governments, Financial Institutions See Crypto As A Tool For Financial Inclusion

Although still seen mostly as a tool for investment and speculation, crypto is likely to become an effective tool for financial inclusion in about five years from now, the majority of respondents in a new survey said. The survey - produced by organizations dedicated to tackling financial crimes, Association of Certified Anti-Money Laundering Specialists (ACAMS) and the

Trump Lost and Bitcoin Won First Presidential Debate – Cryptoverse

Donal Trump (on the left) and Joe Biden during the debate. Source: a video screenshot, Youtube, CNBC Television After last night’s first presidential debate between US President Donald Trump and former Vice President Joe Biden, crypto traders are betting that the likelihood of a Trump win in the election is far lower now than before the debate. Meanwhile, some crypto industry players took the

Norwegian Block Exchange To Tokenize Krone Before Going Global

At this stage, with planned tokenization of both gold and the local currency Norwegian krone (NOK) in the works, Norwegian Block Exchange (NBX) is set to prioritize regional growth over global expansion, NBX Co-Founder and Managing Director Stig Kjos-Mathisen told Cryptonews.com. “The next year, NBX will focus on offering trading pairs, services, and products that

Don’t Have a Fast Bot? Beware of Initial DEX Offerings, Researchers Warn

Despite a focus on “fairer distribution” of newly issued tokens, so-called Initial DEX Offerings (IDOs) tend to benefit only the most advanced traders, much in the same way as the now-infamous Initial Coin Offerings (ICOs) of 2017, a crypto research firm Messari warned. The warning comes on the heels of a summer that has yielded huge returns for many DeFi-related

Cardano Best Weekly Performer, Litecoin Falls Out of Top 10

After falling heavily in price earlier this month, cardano (ADA) has rallied strongly in the market over the past few days, outpacing all other cryptoassets in the top 30 by market capitalization on a weekly basis and entering the top 10 club again. Meanwhile, litecoin (LTC), which for a long time reigned as one of the top cryptoassets, has now fallen out of the top 10 ranking,

‘Fishing’ The Buffett Way: Fund Eyes BitPay, Kraken Shares, Buys Discounted Bitcoin

Warren Buffett. A US-based blockchain and cryptoasset-focused investment fund has reportedly returned 93% this year by “fishing where no one else is fishing,” compared with an industry average of 57%. The Off The Chain Capital LLC fund specializes in buying crypto-related assets “at fire-sale prices from motivated sellers,” Bloomberg reported, citing the fund’s

OpenBazaar Temporarily Saved From Becoming ClosedBazaar

The Haven app. Source: a video screenshot, OB1 The decentralized marketplace OpenBazaar has reportedly been saved from having to shut down after an anonymous donor has agreed to cover the costs of operating the platform until “at least the end of the year.” The marketplace, which allows users to buy and sell goods using cryptocurrencies without a central party, has been reportedly dealing

OpenBazaar Temporarily Saved From Becoming ClosedBazaar

The Haven app. Source: a video screenshot, OB1 The decentralized marketplace OpenBazaar has reportedly been saved from having to shut down after an anonymous donor has agreed to cover the costs of operating the platform until “at least the end of the year.” The marketplace, which allows users to buy and sell goods using cryptocurrencies without a central party, has been reportedly dealing

Chainlink Rallies as New Partnerships Announced, DeFi Market Soars

After a month of heavy selling, Chainlink’s LINK token found some relief today, supported by increased bullish sentiment in the DeFi space and the announcement of several new partnerships. At the time of writing, (08:42 UTC), LINK was up by 15% over the past 24 hours, trading at USD 9.68. However, the price still was down nearly 11% for the week, and 32% for the

Hyped AVAX Buried Under Avalanche of Dumps

After announcing yesterday that its mainnet is now live, smart contract platform Avalanche’s native AVAX token quickly got listed on major exchange Binance, and immediately soared in price. However, the fun did not last long, and the token has over the past 24 hours taken a hard hit across several exchanges. Although the immediate reaction among Binance traders was to

Hyped AVAX Buried Under Avalanche of Dumps

After announcing yesterday that its mainnet is now live, smart contract platform Avalanche’s native AVAX token quickly got listed on major exchange Binance, and immediately soared in price. However, the fun did not last long, and the token has over the past 24 hours taken a hard hit across several exchanges. Although the immediate reaction among Binance traders was to

Crypto.com Rolls Back ‘Illegitimate Trades’ After System Maintenance

Cryptoasset-powered debit card and trading services firm Crypto.com’s exchange is back online again after an issue during system maintenance caused a prolonged outage for the exchange this week, with some users reportedly being able to take advantage of the situation to “manipulate” trades. According to Crypto.com’s CEO Kris Marszalek, the exchange suffered

Crypto.com Rolls Back ‘Illegitimate Trades’ After System Maintenance

Cryptoasset-powered debit card and trading services firm Crypto.com’s exchange is back online again after an issue during system maintenance caused a prolonged outage for the exchange this week, with some users reportedly being able to take advantage of the situation to “manipulate” trades. According to Crypto.com’s CEO Kris Marszalek, the exchange suffered

No Plans to Sell Bitcoin ‘On Short Notice,’ MicroStrategy CEO Confirms

Despite worries in the cryptoverse that the US-based software firm MicroStrategy might not be such a strong holder of bitcoin (BTC) as many had hoped, the company’s CEO said that he has been misrepresented by the media, and that he has no intention of selling bitcoin “on short notice.” The confusion regarding what MicroStrategy CEO & co-founder Michael

Volatility Expected Ahead of Major Bitcoin and Ethereum Options Expiry Day

Both the bitcoin (BTC) and ethereum (ETH) markets could be in for some extra volatility as options contracts worth more than BTC 88,000 (USD 923m) and ETH 460,000 (USD 157.6m) are set to expire this Friday, analysts warned once again, while the previous large expiration failed to move the market. According to crypto derivatives exchange Deribit, the coming Friday marks an

Two US Regulators Have Good News For Stablecoins

After several years of operating in a regulatory grey area, US national banks and federal savings associations are now officially permitted to engage with fiat-backed stablecoins, the Office of the Comptroller of the Currency (OCC) has clarified. Meanwhile, the Securities and Exchange Commission (SEC) also released a statement where it admitted that stablecoins are not