Author: CryptoNews

FINRA recently announced that it has promoted Jonathan Sokobin as its new Executive Vice President and Head of the new office in charge of Regulatory Economics and Market Analysis (REMA). Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! Published in a press release identified by Finance Magnates, Jonathan Sokobin, previously the Senior VP and Chief Economist, has been elevated by FINRA, the Financial Industry Regulatory Authority, to the rank of Executive Vice President and Head of Regulatory Economics and Market Analysis.Sokobin…

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With the new announcement that Cardano is on its way to release an algorithmic stablecoin in 2023, various community members expressed concerns, comparing the project to TerraUSD (UST), which caused great losses within the crypto space in 2022. According to its developers, the stablecoin project Djed will be pegged to the United States dollar and backed by Cardano (ADA). Apart from this, it will be using another token as its reserve coin. The project highlighted that it will be overcollateralized and will have on-chain proof-of-reserves. Despite the assurances given by the team, various community members expressed concerns, with some bringing the…

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As of late, PancakeSwap has been working with Hashflow to offer HFT payouts on its staking platform. The Tweet implies that this will make it possible for someone to utilize PancakeSwap to “farm” HFT tokens for profit. For a decision to be voted on by PancakeSwap users, it must be supported by the votes of 60% of HFT token holders, as is customary in the DeFi community. Let’s take a quick glance of how CAKE has been performing of late: Overall, the DEX is making great strides When compared to its risk, CAKE’s volatile price and low return make it…

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Metrika, an operational intelligence platform for blockchain and distributed ledger networks, today announced a collaboration with Hedera to provide enhanced visibility and transparency for the different applications across the company’s network ecosystem. The Hedera network ecosystem will now have access to Metrika’s blockchain and distributed ledger technology (DLT) monitoring and analytics platform, offering the community unparalleled on-ledger metrics and visibility into the performance of the network at any given time. Hedera is a proof-of-stake, public DLT network for building and deploying decentralized applications. Application developers building on Hedera will now be able to access Metrika’s advanced metrics on transaction volume,…

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Cryptocurrency exchange Binance is working with accounting firm Mazars as part of its proof-of-reserve (PoR) audits triggered by the fall of FTX.Mazars, the accounting firm that worked for former United States President Donald Trump’s company, was appointed as an official auditor to conduct a “third party financial verification” as part of Binance’s PoR updates, the Wall Street Journal reported on Nov. 30.The accounting firm is reportedly already reviewing all of Binance’s publicly shared information on Bitcoin (BTC) PoR and will also be verifying future updates and tokens, a spokesperson for Binance reportedly said. “The first verification update for BTC will…

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Blockchain data analytics carried out by Nansen highlights the ever-growing amount of Ether (ETH) being staked across various staking solutions in the months following Ethereum’s shift to proof-of-stake (PoS) consensus.The highly anticipated Merge has been a boon for decentralized finance (DeFi) in general, and staking solutions have been in high demand since Ethereum’s shift to PoS. This is according to blockchain data from a variety of staking solutions across the Ethereum ecosystem.Nansen’s report highlights the impact of the Merge in introducing staked ETH as an out-and-out cryptocurrency-native yield-bearing instrument that has quickly outstripped other collateralized yield-bearing services. The likes of…

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Singapore government-owned investment firm Temasek has suffered a lot more than just financial losses due to investing in FTX, according to Deputy Prime Minister Lawrence Wong.Wong, who is also the finance minister, believes that Temasek’s $275 million investment in FTX has caused significant damage to the company’s reputation. The official addressed the growing criticism over Temasek’s FTX exposure at a parliament meeting on Nov. 27, according to a report by the South China Morning Post.The prime minister emphasized that the collapse of FTX was a result of a “very badly managed company” as well as possible fraud and misappropriation of…

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Ripple is showing positive signs above the $0.365 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.48 level. Ripple is slowly moving higher and trading above $0.35 against the US dollar. The price is now trading above $0.380 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.381 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a strong increase if it clears the $0.415 resistance zone. Ripple Price Eyes Upside Break After a strong decline,…

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[PRESS RELEASE – Please Read Disclaimer] CoinCRED, the newly-entered U.A.E. exchange, has officially announced its collaboration with a new-age crypto project, GYRE NETWORK. The year-old exchange is well aware of the current market situation, but it states that the partnership is a strategic move that will help both parties to provide a great experience to their users and accommodate other crypto enthusiasts. About the GYRE NETWORK project GYRE NETWORK is a newly-launched cryptocurrency with the “GYR” symbol and is based on the BEP-20 token standard of the BNB smart chain. The core objective of the Gyre Network is to spread…

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While fears surround the crypto market because of how big projects and firms file bankruptcy one after the other, community members continue to remind the world of the best use cases for cryptocurrency. On Twitter, the Cointelegraph social team asked the community to share their perspectives on what the best crypto use case is. From payments and self-custody to transparency and investment, community members gave a wide range of responses.What is the best use case of crypto?— Cointelegraph (@Cointelegraph) November 29, 2022 One community member highlighted the use of stablecoins like Tether (USDT) as payment methods while pointing out that other…

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