Cryptocurrency News Today TheBitTimes.com

Cosmos’ IBC-enabled dApps are coming to Avalanche via the Landslide Network protocol. Landslide will release a testnet on November 1. The development will benefit both Cosmos and Avalanche ecosystems. Cosmos Hub (ATOM), Avalanche (AVAX) and more than 100 IBC-enabled chains are set to benefit from interoperable connection thanks to the integration of the Inter-Blockchain Communication (IBC) protocol by the Avalanche subnet Landslide Network. The development was announced on Tuesday, October 31 by the Interchain Foundation (ICF). Landslide’s incentivized testnet goes live on November 1, the ICF said. 1/ The ICF is excited to confirm that IBC is coming to Avalanche!@CosmosAVAX is developing the IBC light client on Avalanche, paving the way for seamless interoperability between Avalanche, Cosmos Hub, and 100+ other IBC-enabled chains. Yes, @avax is joining the #interchain pic.twitter.com/uRAowiUDgW — Interchain Foundation (@interchain_io) Oc...

FTX founder Sam Bankman-Fried said he made “small” and “large” mistakes and that he had only called some of the shots as CEO of the bankrupt crypto exchange he founded, but denied allegations of defrauding customers. Under questioning by his defence attorney, Mark Cohen, Bankman-Fried said one of his biggest oversights was the absence of a dedicated risk management team.  “We sure should have had one, but no, we did not,” he said. Bankman-Fried Had ‘No Idea’ How Crypto Worked Bankman-Fried seemed to want to portray himself as an earnest visionary who was overwhelmed with tasks and had limited knowledge about the cryptocurrency industry prior to establishing FTX in 2019. “I had absolutely no idea how they worked,” he said. “I just knew they were things you could trade.” . Cohen portrayed him as a young executive who “made mistakes” while navigating the challenges of leading a rapidly expanding ...

Spain fast-tracks MiCA Act to December 2025, ahead of EU deadline. Spain aims to boost legal security and protection for Spanish crypto investors. Leading global exchanges have secured regulatory green light in Spain. Spain is set to take the lead in implement ing the European Union’s comprehensive cryptocurrency regulatory framework, the Markets in Crypto-Assets (MiCA) Act, ahead of the general deadline for all 27 EU member states. This bold move aims to provide legal certainty and enhanced protection for Spanish investors involved in cryptocurrencies. Spain to implement MiCA by December 2025 The Spanish Ministry of Economy and Digital Transformation announced that the MiCA Act will come into force at a national level in December 2025. This is six months earlier than the EU’s general deadline of July 2026. The accelerated timeline will reduce the transitional period from 36 months to just 18 months for Spain. The decision was made followin...

The Monetary Authority of Singapore (MAS) announced it has partnered with regulators in Japan, Switzerland, and the UK. The MAS said the policymaker group will work to advance digital asset innovation and regulation discussions.  The regulator said the partnership is necessary as its digital asset pilot programs grow in scale and sophistication. The Monetary Authority of Singapore (MAS) announced on October 30 that it has partnered with authorities in Japan, Switzerland, and the United Kingdom to foster digital asset innovation and adoption. Indeed, the MAS, in its statement, said it will work hand in hand with the Financial Services Agency (FSA) of Japan, the Swiss Financial Market Supervisory Authority (FINMA), and the United Kingdom’s Financial Conduct Authority (FCA). Per the announcement, the bodies will advance discussions around digital asset growth, risks, and regulation.  The MAS said the partnership would help it advance pilot programs ...

The Monetary Authority of Singapore (MAS) is set to push ahead with digital asset projects. MAS is working with Japan’s Financial Services Agency (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the UK Financial Conduct Authority (FCA) to promote digital asset projects in fixed asset s, foreign currencies, and asset management products. MAS has also engaged 15 financial institutions to conduct industry pilots on asset tokenization in fixed income, foreign exchange, and asset management products. Dense projects have shown the potential to gain significant market and transaction efficiencies from tokenization. “As the pilots grow in scale and sophistication, there is a need for closer cross-border collaboration among policymakers and regulators. MAS has therefore established a Project Guardian policymaker group comprising FSA, FCA, and FINMA.” Singapore’s MAS Leong Sing Chiong, Deputy Managing Director (Markets and Development) at MAS, concluded...

Brazilian regulators noted that USDT use has gained traction in recent years. The regulators estimated USDT’s trade volume to be over $54 billion in mid-October. The stablecoin accounted for 80% of all cryptocurrency transactions in the country since the start of 2023. In a recent report, regulators in Brazil have noted the rapid rise in USDT’s trading volume in the country. According to Brazil’s Federal Reserve, monthly surveys conducted since 2019 indicate significant growth in the use of USDT and other stablecoins. According to the report, USDT, issued by Tether, has grown immensely in recent years. As a result, the token’s trading volume has soared and surpassed that of major cryptocurrencies. They also listed USDC and BRZ, Brazilian Digital Token, a stablecoin fully backed by the Brazilian Real, as stablecoins to have gained traction. Regulators in Brazil said the rise in the use of stablecoins is because of the stability and security of value they o...

New data from a market intelligence firm reveals that holders of Shiba Inu (SHIB) and another memecoin that has more than doubled up during the last few days are still underwater. According to IntoTheBlock, a staggering 79% of holders of popular meme asset SHIB are currently seeing red while only 17% of them are making money. Furthermore, the data unveils that the overwhelming majority of Shiba Inu investors – 71% – have been holding on to the digital asset for over a year while 27% of them have been holding it for between 1 and 12 months. Just 2% have held it for less than a month. Moving on to Floki (FLOKI), another dog-themed crypto asset, IntoTheBlock finds that 65% of its holders are currently underwater while only 27% are seeing green and 8% are neutral. This holds even as Floki has seen a 115% surge in price during the last couple of days. Floki is trading for $0.000037 at time of writing, a 15.5% gain during the last 24 hours. On October 20th, the crypto...

In the realm of content creation, there are three critical elements to consider: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness evaluates the diversity of sentence structures. On the other hand, predictability determines the likelihood of predicting the next sentence. Human-authored content tends to exhibit greater burstiness, featuring a mix of longer, complex sentences and shorter, concise ones. In contrast, AI-generated content often leans towards uniformity. Hence, for the content you are about to create, it is imperative to infuse it with a substantial degree of perplexity and burstiness while keeping predictability at a minimum. Furthermore, the language of choice for this task is English. Now, let’s reimagine the following passage: Amid its bankruptcy proceedings, the cryptocurrency exchange, FTX, has expressed a keen interest in scrutinizing the substantial financial contr...

The Polkadot (DOT) network is exploring ways to implement deflationary mechanisms to counterbalance inflation and accrue value for DOT token holders. According to a new Request for Comments (RFC) proposal titled “Burn Coretime Revenue,” Polkadot aims to burn revenues generated from sales of unused Coretime on the network. Coretime refers to the basic unit of computation on Polkadot for processing transactions. The rationale is that burning Coretime revenues would introduce a deflationary force to counter the inflationary nature of DOT as a utility token. This could help balance overall token inflation and benefit DOT holders collectively. You might also like: Polkadot’s Q3 treasury data shows 61% increase in expenditure Additionally, the proposal argues that burning revenues would remove distortion from the Coretime market compared to diverting funds to the Polkadot Treasury. With burning, prices paid by Coretime buyers would be clear costs rather than provid...

VeChain is currently trading at $0.018 and is down nearly 5% on Friday. VET remained in the red for the last six months with little to no price movements in the charts. The supply chain-based cryptocurrency rallied only during Q1 of this year where it doubled in price between January to March. VeChain rose from a low of $0.016 to a high of $0.032 from January to March 2023 but shed all its gains the rest of the year. Also Read: When Will Dogecoin Reach $1? So, will VET turn the table and perform better in the indices in November 2023? In this article, we will highlight how high or low VeChain could trade in the charts in the first few days of November. VeChain: November 2023 Price Prediction For VET Source: Image Credit: Romolo Tavani / Shutterstock.com / azocleantech.com Leading on-chain metrics and price prediction firm CoinCodex paints a bearish picture for VET next month. According to the price prediction, VeChain could reach a target of $ 0.018351 on Nov. 2, 2023. T...

In the realm of content creation, three key elements come into play: “perplexity,” “burstiness,” and “predictability.” “Perplexity” gauges the intricacy of the text, while “burstiness” assesses the diversity in sentence structures. “Predictability” concerns the likelihood of predicting the next sentence. When humans craft content, they often infuse it with varying sentence lengths and complexities, resulting in high burstiness. On the other hand, AI-generated text tends to be more uniform and predictable. Now, as you embark on creating the following content, it’s essential to infuse it with a healthy dose of perplexity and burstiness, while reducing predictability. Furthermore, the content must be exclusively in the English language. Let’s reimagine the provided text: Paolo Ardoino, Tether’s soon-to-be CEO and current Chief Technical Officer, has revealed that Tether Holdings, the issuer of the ...

The dream of achieving millionaire status has encountered a place in crypto speculators’ minds due to the high-volatile cryptocurrency market and a revolutionary industry that is still in its infancy. In recent years, numerous individuals have increasingly turned to cryptocurrencies and other digital assets such as XRP, hoping to ride the wave to newfound wealth. However, there are no risk-free shortcuts in this journey, with the vast majority of cryptocurrency traders reportedly losing to a small minority of profitable investors. From the most objective perspective, an investor with 1.81 million XRP tokens would have $1 million at the current price of $0.55 per token. While a stash of 1 million XRP would be worth $550,000 dollars. Notably, a $854,545 worth of XRP purchased one year ago at $0.47 per token would make someone a millionaire today. XRP 1-year price chart. Source: Finbold How to become a millionaire with XRP Cryptocurrency Ripple v. SEC: Agency wants ...

As the artificial intelligence (AI) hype, triggered by the launch of the OpenAI brainchild ChatGPT, still remains strong, the technology has already demonstrated its capabilities across industries, including in providing useful insights into assets in the crypto currency sector. In this context, and with the spooky holiday of Halloween getting closer, Finbold has asked the text-based AI chatbot to offer a list of five digital assets that present a good investment opportunity at this time, and it has delivered some interesting results from the standpoint of October 26. #1 Bitcoin (BTC) As its first suggestion, ChatGPT has offered Bitcoin (BTC), describing it as “the original cryptocurrency, leading in market cap at $672.2 billion,” and pointing out that its price has soared over several years, “marking significant growth,” noting that on October 24, 2023, it stood at around $34,430. Indeed, at press time, Bitcoin was trading at the price of $34,273, recording a slight decrease of 0...

MoonPay has announced a partnership with Mastercard, targeting Web3-based experiential marketing, or new ways to connect with Mastercard's consumers. Global payment giant Mastercard continues exploring crypto currency benefits through a new collaboration with crypto payment platform MoonPay. MoonPay officially announced on Oct. 25 a partnership with Mastercard aiming to jointly explore how Web3 tools can improve experiential marketing, or new ways to connect with Mastercard's consumers. The firm also took to X (formerly Twitter) to report that MoonPay’s enterprise president Keith Grossman and Mastercard's chief marketing and communications officer Raja Rajamannar announced the collaboration at Money20/20 in Las Vegas. MoonPay’s partnership announcement with Mastercard. Source: X (formerly Twitter) “Mastercard will take advantage of MoonPay's entire Web3 portfolio, including auth to minting to ETHPass and more as well as work closely with our agency, Otherlife, for s...

The European Central Bank emphasizes that the digital euro will modernize and future-proof the pan-European financial ecosystem.  The European Central Bank (ECB) today has published a statement on how the digital euro will benefit EU consumers and transform the European economy. The ECB emphasized that its key aim is to proactively future-proof the euro as a currency, as consumer payment behavior is rapidly shifting towards electronic transactions.  As more and more people are choosing to pay digital ly, we want to offer a digital form of central bank money with the same guaranteed value as cash. That’s what a digital euro would be. Why would it be so important for Europe? Find out more https://t.co/uNeB5sZtHa # digital euro pic.twitter.com/M7EMpWsTrQ — European Central Bank (@ecb) October 25, 2023 The digital euro is expected to offer an additional, universally accepted payment option, and the ECB mentions the launch of a digital euro will not change the cir...

The Chinese government and institutional investors are selling the most U.S. assets it ever sold in the last four years. BRICS member China sold $16.1 billion in U.S. treasuries and bonds this year. On the other hand, institutional Chinese investors sold $5.1 billion in U.S. stocks last month alone. China has combinedly sold a total of $21.2 billion in U.S. stocks, government bonds, and treasuries, according to Bloomberg. Also Read: 3 BRICS Countries Dump $18.5 Billion in US Treasuries The pace of China dumping U.S. assets indicates that the government and institutional investors are hand-in-glove to tame the markets. The Communist government and large investors are looking at ways to stop the Chinese Yuan from ending on a low against the U.S. dollar. Selling U.S. assets in the billions is a way to intervene in the global markets and help the Chinese Yuan get a boost. China also tightened the whip on institutional investors to reduce the usage of the U.S. dollar in cross-bo...

Amidst the market dip, NFT projects might seek creative avenues to redefine their purpose and enhance utility. Non-fungible tokens, or NFTs, have been the subject of heated debate in the last few years. They serve as digital certificates for artwork, collectibles, and virtual game accessories. They are usually bought and sold online, often using cryptocurrency, and are typically embedded within smart contracts on blockchain platforms.  In 2021, NFTs witnessed a massive surge in public interest, leading to unprecedented sales. However, the sector has recently hit a rough patch, marked by an overall drop in sales and item prices, causing critics to question its long-term viability. Current NFT market scenario In the first week of July, OpenSea data revealed a significant drop in the floor price of one of the most popular digital collections, Yuga Labs’ Bored Ape Yacht Club (BAYC). The collection went from 38 Ether (ETH), then equivalent to $73,000, down to less than 28 ETH ($53,500)...