🌍 37% of Survey Participants Want Bitcoin Legalized Inside Their Countries
The Economist surveyed 3 000 people across the following developed economies (the USA, the UK, France, South Korea, Australia, and Singapore) and the developing ones (Brazil, Turkey, Vietnam, South Africa, and the Philippines) to determine what is their current stance on the crypto industry.
Approximately 37% of the respondents said they will support their respective government if it decides to declare bitcoin or another digital asset as an official payment method. 43% were neutral on the matter, while only 18% said they will disagree with such a move.
The results were similar when speaking of launching a CBDC. 37% believe the authorities should release that product, while around 19% think this would be a mistake.
The survey touched upon non-fungible tokens, too. Over 60% of the participants consider buying, holding, or selling NFTs, while only 7% are against this idea.
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The Economist surveyed 3 000 people across the following developed economies (the USA, the UK, France, South Korea, Australia, and Singapore) and the developing ones (Brazil, Turkey, Vietnam, South Africa, and the Philippines) to determine what is their current stance on the crypto industry.
Approximately 37% of the respondents said they will support their respective government if it decides to declare bitcoin or another digital asset as an official payment method. 43% were neutral on the matter, while only 18% said they will disagree with such a move.
The results were similar when speaking of launching a CBDC. 37% believe the authorities should release that product, while around 19% think this would be a mistake.
The survey touched upon non-fungible tokens, too. Over 60% of the participants consider buying, holding, or selling NFTs, while only 7% are against this idea.
@DeCenterOrg
👀 For five years, the world’s largest cryptocurrency exchange Binance served as a conduit for the laundering of at least $2.35 billion in illicit funds.
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⚖️ SEC investigating whether BNB was a security when sold in 2017
US regulators are investigating whether Binance Holdings Ltd. broke securities rules by selling digital tokens just as the crypto exchange was getting off the ground five years ago, according to people familiar with the matter.
The Securities and Exchange Commission’s review pries into the firm’s origins and those of its BNB token, which is now the world’s fifth-biggest. Investigators are examining if the 2017 initial coin offering amounted to the sale of a security that should have been registered with the agency, said the people who were granted anonymity to discuss the confidential probe.
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US regulators are investigating whether Binance Holdings Ltd. broke securities rules by selling digital tokens just as the crypto exchange was getting off the ground five years ago, according to people familiar with the matter.
The Securities and Exchange Commission’s review pries into the firm’s origins and those of its BNB token, which is now the world’s fifth-biggest. Investigators are examining if the 2017 initial coin offering amounted to the sale of a security that should have been registered with the agency, said the people who were granted anonymity to discuss the confidential probe.
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⚡️ PayPal announced that its crypto users can now move their funds (Bitcoin and Ethereum) off its platform, a long-awaited feature that will make the company's offering more like other popular cryptocurrency services.
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🇺🇸 Donald B. Verrilli, who served as Solicitor General of the US during Obama’s administration, could help Grayscale achieve its spot Bitcoin ETF mission.
Verrilli is an American lawyer with rich experience, having won numerous law cases throughout his career. In 2011, former President Barack Obama appointed him as the Solicitor General of the United States. Verrilli served in that position until 2016.
Grayscale’s ambitions to introduce an exchange-traded fund tracking the performance of bitcoin in the States are not new but to no avail so far as the SEC is yet to give its nod on such a product. The regulator has until July 6 to reject or approve Grayscale’s filing.
@DeCenterOrg
Verrilli is an American lawyer with rich experience, having won numerous law cases throughout his career. In 2011, former President Barack Obama appointed him as the Solicitor General of the United States. Verrilli served in that position until 2016.
Grayscale’s ambitions to introduce an exchange-traded fund tracking the performance of bitcoin in the States are not new but to no avail so far as the SEC is yet to give its nod on such a product. The regulator has until July 6 to reject or approve Grayscale’s filing.
@DeCenterOrg
🧬 Ethereum’s Ropsten Testnet Has Completed Its Merge
The Ropsten test network (testnet) successfully merged its proof-of-work execution layer with the Beacon Chain proof-of-stake consensus chain – a process identical to the one that the main Ethereum network will undergo in just a few months (if all goes well).
The Merge is a long-awaited milestone in Ethereum’s journey toward a new proof-of-stake (PoS) consensus mechanism. Currently, Ethereum depends on proof-of-work (PoW), whereby miners expend energy to discover new blocks and add them to the blockchain, earning newly issued ether (ETH) and a portion of the transaction fees and tips. Once Ethereum shifts from PoW to PoS, validators who have staked the required 32 ETH will take over the role of adding new blocks to the blockchain.
Currently, the Beacon Chain runs in parallel with the current PoW chain. The Beacon Chain is the PoS coordination chain that already has validators creating and validating new blocks in tandem with the PoW execution chain. Once the PoS chain has been adequately tested and secured, the two chains will merge and Ethereum will continue as a PoS blockchain.
The complexity of such a change to Ethereum’s code requires multiple tests on various testnets. Ropsten’s merge is the first test of its kind, and its outcome will help to inform developers’ future steps as they proceed toward the real Merge on mainnet.
Other testnet merges on Goerli and Seoplia are expected to happen in the coming months.
@DeCenterOrg
The Ropsten test network (testnet) successfully merged its proof-of-work execution layer with the Beacon Chain proof-of-stake consensus chain – a process identical to the one that the main Ethereum network will undergo in just a few months (if all goes well).
The Merge is a long-awaited milestone in Ethereum’s journey toward a new proof-of-stake (PoS) consensus mechanism. Currently, Ethereum depends on proof-of-work (PoW), whereby miners expend energy to discover new blocks and add them to the blockchain, earning newly issued ether (ETH) and a portion of the transaction fees and tips. Once Ethereum shifts from PoW to PoS, validators who have staked the required 32 ETH will take over the role of adding new blocks to the blockchain.
Currently, the Beacon Chain runs in parallel with the current PoW chain. The Beacon Chain is the PoS coordination chain that already has validators creating and validating new blocks in tandem with the PoW execution chain. Once the PoS chain has been adequately tested and secured, the two chains will merge and Ethereum will continue as a PoS blockchain.
The complexity of such a change to Ethereum’s code requires multiple tests on various testnets. Ropsten’s merge is the first test of its kind, and its outcome will help to inform developers’ future steps as they proceed toward the real Merge on mainnet.
Other testnet merges on Goerli and Seoplia are expected to happen in the coming months.
@DeCenterOrg
💳 International payment processing giant Mastercard is expanding its payment network for nonfungible token (NFT) markets and Web3.
The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year. The firm has partnered with a number of leading NFT marketplaces to allow 2.9 billion cardholders to directly make NFT purchases without buying crypto first.
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The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year. The firm has partnered with a number of leading NFT marketplaces to allow 2.9 billion cardholders to directly make NFT purchases without buying crypto first.
@DeCenterOrg
🌎 Jack Dorsey is building «Web5» powered by Bitcoin
Block subsidiary TBD has announced plans to build a new decentralized web centered around Bitcoin (BTC), underscoring founder Jack Dorsey’s belief that the largest blockchain network will play a major role in the internet’s evolution.
The new project, called «Web5,» represents the latest Bitcoin-centric endeavor to be pursued by Dorsey since stepping down as CEO of Twitter in November 2021.
Whereas Web3 incorporates blockchain technology and tokenization to decentralize the internet, Web5 is being envisioned as an identity-based system that only utilizes one blockchain: Bitcoin. Twitter user Namcios broke down the concept of Web5 in a series of tweets that described several software components working together to enhance the user's experience and enable decentralized identity management.
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Block subsidiary TBD has announced plans to build a new decentralized web centered around Bitcoin (BTC), underscoring founder Jack Dorsey’s belief that the largest blockchain network will play a major role in the internet’s evolution.
The new project, called «Web5,» represents the latest Bitcoin-centric endeavor to be pursued by Dorsey since stepping down as CEO of Twitter in November 2021.
Whereas Web3 incorporates blockchain technology and tokenization to decentralize the internet, Web5 is being envisioned as an identity-based system that only utilizes one blockchain: Bitcoin. Twitter user Namcios broke down the concept of Web5 in a series of tweets that described several software components working together to enhance the user's experience and enable decentralized identity management.
@DeCenterOrg
📉 Global market cap at $1 trillion, what next?
— Global cryptocurrency markets cap slips to $1 trillion. The market cap was at $3 trillion roughly six months ago.
— During the weekend, BTC slumped by a few thousand dollars more, and the past 24 hours brought even more pain. Earlier today, bitcoin fell below $25 000 for the first time in 18 months.
— Ethereum is also one of the most substantial losers (again). ETH stood above $2 000 a week ago, but it’s now down to $1 300. This means that the second-largest crypto is currently below the 2018 ATH.
— Even more losses are evident from ADA, SOL, DOGE, DOT, TRX, and AVAX are down by around or more than 10% in a day.
— All this enhanced volatility brought mass pain for over-leveraged traders once again, as the number of wrecked ones is up to 180 000.
— The total liquidations on a daily scale exceed $500 million once again.
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— Global cryptocurrency markets cap slips to $1 trillion. The market cap was at $3 trillion roughly six months ago.
— During the weekend, BTC slumped by a few thousand dollars more, and the past 24 hours brought even more pain. Earlier today, bitcoin fell below $25 000 for the first time in 18 months.
— Ethereum is also one of the most substantial losers (again). ETH stood above $2 000 a week ago, but it’s now down to $1 300. This means that the second-largest crypto is currently below the 2018 ATH.
— Even more losses are evident from ADA, SOL, DOGE, DOT, TRX, and AVAX are down by around or more than 10% in a day.
— All this enhanced volatility brought mass pain for over-leveraged traders once again, as the number of wrecked ones is up to 180 000.
— The total liquidations on a daily scale exceed $500 million once again.
@DeCenterOrg
🇺🇸 Fed Announces Biggest Interest Rate Hike in 28 Years
The U.S. Federal Reserve on Wednesday raised interest rates by 75 basis points, or three-quarters of a percentage point. It is the biggest rate hike in 28 years, part of an ongoing effort to bring down soaring inflation that has roiled the economy and markets from stocks and bonds to cryptocurrencies.
The U.S. central bank also announced it would continue reducing the size of its balance sheet at the rate announced in May, according to a statement by the Federal Open Market Committee (FOMC), which sets the Fed's monetary policy.
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The U.S. Federal Reserve on Wednesday raised interest rates by 75 basis points, or three-quarters of a percentage point. It is the biggest rate hike in 28 years, part of an ongoing effort to bring down soaring inflation that has roiled the economy and markets from stocks and bonds to cryptocurrencies.
The U.S. central bank also announced it would continue reducing the size of its balance sheet at the rate announced in May, according to a statement by the Federal Open Market Committee (FOMC), which sets the Fed's monetary policy.
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💸 Bitcoin investors have locked in the largest USD denominated Realized Loss in history last week.
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🐶 Elon Musk, SpaceX and Tesla Inc. were sued for $258 billion over claims they are part of a racketeering scheme to back the cryptocurrency Dogecoin.
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👀 The Bitcoin Puell Multiple🟧has fallen to the lowest levels since the Nov 2018 bear market crash.
Miners are currently earning just 39% of their 1yr average USD income.
The Difficulty Ribbon🟪 is also compressed, signalling miner stress and potential capitulation is on the horizon.
@DeCenterOrg
Miners are currently earning just 39% of their 1yr average USD income.
The Difficulty Ribbon🟪 is also compressed, signalling miner stress and potential capitulation is on the horizon.
@DeCenterOrg
💸 Big Players Like FTX Should Step in and Help Crypto Recover
Sam Bankman-Fried opined that crises in the sector like the ongoing situation could be solved with the help of the leading companies. In fact, he believes they need to dive into the issue even if it leads to short-term losses:
«I do feel like we have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion. Even if we weren’t the ones who caused it or weren’t involved in it. I think that’s what’s healthy for the ecosystem, and I want to do what can help it grow and thrive.»
Bankman-Fried reminded that FTX has already provided help on similar occasions. Last year, wrongdoers hacked the Japanese exchange Liquid and stole around $100 million worth of digital assets. Shortly after, FTX provided a $120 million in financing so the company could get back on its feet:
«We, I think about 24 hours later, stepped in and gave them a pretty broad line of credit to be able to cover all of their demands, to make sure customers were made whole while thinking about the longer-term solution.»
@DeCenterOrg
Sam Bankman-Fried opined that crises in the sector like the ongoing situation could be solved with the help of the leading companies. In fact, he believes they need to dive into the issue even if it leads to short-term losses:
«I do feel like we have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion. Even if we weren’t the ones who caused it or weren’t involved in it. I think that’s what’s healthy for the ecosystem, and I want to do what can help it grow and thrive.»
Bankman-Fried reminded that FTX has already provided help on similar occasions. Last year, wrongdoers hacked the Japanese exchange Liquid and stole around $100 million worth of digital assets. Shortly after, FTX provided a $120 million in financing so the company could get back on its feet:
«We, I think about 24 hours later, stepped in and gave them a pretty broad line of credit to be able to cover all of their demands, to make sure customers were made whole while thinking about the longer-term solution.»
@DeCenterOrg
🇨🇳 China’s WeChat bans crypto and NFT-related accounts
The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services.
Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the illegal business category.
The policy also covers secondary NFT trading, with the firm noting that accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with in accordance with this article.
@DeCenterOrg
The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services.
Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the illegal business category.
The policy also covers secondary NFT trading, with the firm noting that accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with in accordance with this article.
@DeCenterOrg
💷 Tether officially announced on June 22 that its upcoming GBP-pegged stablecoin, GBPT, will launch in early July and will initially support the Ethereum blockchain.
GBPT will be a stable digital currency pegged on the 1:1 ratio to the GBPT, aiming to provide a faster and cheaper option for asset transfers.
GBPT joins a family of four other fiat currency-pegged Tether tokens, including the largest stablecoin by market capitalization, USDT. Other stablecoins include the euro-pegged EURT, the offshore Chinese yuan-egged CNHT as well as the recently launched MXNT, the Mexican peso-pegged stablecoin.
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GBPT will be a stable digital currency pegged on the 1:1 ratio to the GBPT, aiming to provide a faster and cheaper option for asset transfers.
GBPT joins a family of four other fiat currency-pegged Tether tokens, including the largest stablecoin by market capitalization, USDT. Other stablecoins include the euro-pegged EURT, the offshore Chinese yuan-egged CNHT as well as the recently launched MXNT, the Mexican peso-pegged stablecoin.
@DeCenterOrg
🐳 Someone transferred $90 918 000 in Bitcoin and paid a fee of $0.39.
That’s a transaction fee of 0.000000004289%.
No government bank or third party had to verify the transaction, nor could they have stopped, if they wanted to.
@DeCenterOrg
That’s a transaction fee of 0.000000004289%.
No government bank or third party had to verify the transaction, nor could they have stopped, if they wanted to.
@DeCenterOrg
📈 CZ: Bitcoin Could Chart New All-Time High in up to 2 Years
Changpeng Zhao — CEO of the world’s biggest crypto exchange Binance — believes it will take bitcoin between a few months and two years to reach its current ATH of nearly $70 000. He also predicted that the big cryptocurrency projects will survive the bear market, while small ones could be in trouble.
People might consider bitcoin’s price at $20K as a very low level, but observing the asset’s development during the years, they will realize it has progressed considerably:
«But you know, in 2018, 2019, if you told people bitcoin will be 20K in 2022, they would be very happy. In 2018/19, bitcoin was $3 000, $6 000.»
CZ is also optimistic that BTC will tap and even surpass its all-time high of over $69 000 registered last November. However, it might take up to two years before this occurs:
«I think given this price drop, from the all-time high of 69K to 20K now, it will probably take a while to get back. It probably will take a few months or a couple of years. No one can predict the future.»
@DeCenterOrg
Changpeng Zhao — CEO of the world’s biggest crypto exchange Binance — believes it will take bitcoin between a few months and two years to reach its current ATH of nearly $70 000. He also predicted that the big cryptocurrency projects will survive the bear market, while small ones could be in trouble.
People might consider bitcoin’s price at $20K as a very low level, but observing the asset’s development during the years, they will realize it has progressed considerably:
«But you know, in 2018, 2019, if you told people bitcoin will be 20K in 2022, they would be very happy. In 2018/19, bitcoin was $3 000, $6 000.»
CZ is also optimistic that BTC will tap and even surpass its all-time high of over $69 000 registered last November. However, it might take up to two years before this occurs:
«I think given this price drop, from the all-time high of 69K to 20K now, it will probably take a while to get back. It probably will take a few months or a couple of years. No one can predict the future.»
@DeCenterOrg
🔥 Football superstar Cristiano Ronaldo has signed an exclusive multi-year partnership with crypto exchange Binance.
The collaboration aims to introduce football fans to the Web3 ecosystem through global NFT campaigns.
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The collaboration aims to introduce football fans to the Web3 ecosystem through global NFT campaigns.
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