Category Archives: Binance
What will Bitcoin do if the Justice Department takes aim at Binance? – Cointelegraph
In early August, sources leaked word that officials with the United State Department of Justice were considering fraud charges aimed at Binance, the worlds largest cryptocurrency exchange. However, they indicated, officials are worried that it could cause a run on the market akin to the November 2022 collapse of FTX.
Those concerns have not deterred the Securities and Exchange Commission or the Commodity Futures Trading Commission from levying their own charges against Binance, which in part accused the exchange and its founder, Changpeng CZ Zhao, of allowing Americans to use products they are prohibited from accessing and of manipulating trading volume with a market-maker called Sigma Chain that Zhao owned and controlled.
To put the numbers in perspective, at the time of writing, Binance had facilitated $7 billion in trading volume over the preceding 24-hour period. Coinbase facilitated a relatively paltry $970 million, while KuCoin another well-known exchange fell short of $350 million.
With markets in flux and lingering questions over whether central banks will pull off a soft landing for the global economy in the months ahead, its fair to wonder what the implications might be if law enforcement joins regulators in targeting Binance. For feedback, we asked a number of Cointelegraph staffers for their thoughts and how they plan to handle their own investments if the Justice Department does file charges against Binance or its executives.
Cointelegraph: How do you think the market will respond if the DOJ issues charges related to Binance? Are you going to be buying or selling whenthat happens?
Bitcoin will likely drop if the Justice Department issues charges related to Binance, and the broader crypto industry might faceplant. But the need for sound, decentralized, censorship-resistant money is global: Bitcoin buyers in Africa, Europe and Latin America will gobble up the dip. Personally, Im going to keep asking myself (and my Bitcoin node): Will there only ever be 21 million Bitcoin? If the answer is Yes, then I will continue to earn, save and spend in Bitcoin. (Spoiler alert, the answer is Yes.)
CT: Where do you think the price of Bitcoin will stand on Dec. 31?
JH:$38,000. Dr. Adam Back, Paolo Ardoino (chief technology officer of Bitfinex/Tether) and Giacomo Zucco (a Bitcoin consultant) have all told me they believe Bitcoin will be above $35,000 by the end of this year. Theyre pretty smart Bitcoin people. How high the price could go before the halving is anyones guess, but it does feel (for the umpteenth time) that sentiment toward Bitcoin is slowly warming up.
In my experience, news like this has very little impact on the market long-term, for three reasons. First, charges dont mean much unless there is a conviction, and trials can take a very long time. Second, if one exchange goes down, another one will pop up to replace it. Third, crypto is too useful for consumers to give up, and interest in it is growing organically as more people learn about it. So, I think it will continue to be a good investment regardless of the news cycle.
BTC Price on Dec. 31? On a chart, Bitcoin has support at $15,300 and resistance at $41,000, so I would expect its price to be in that range by the end of the year.
Related: Demand is driving the price of Bitcoin to $130K
My investment thesis is to hold on for dear life and hope that the market continues to grow over the medium to long term. I rarely, if ever, even look at what Ive saved. I try to forget it exists, and crypto pretty much never enters my brain when I think about financial planning for the near term. This offers me a level of psychological insolation from market-moving events, such as might be the case if Binance were charged.
BTC Price on Dec. 31? Now that I have no particular thoughts on.
It will be a big blow to the market. There will likely be an asset drain from Binance, and this will greatly damage the exchanges image globally. This will affect the price of Bitcoin and the entire system of assets on BNB Chain. There will likely be a new crash similar to what happened with Terra, with several investors withdrawing assets in protocol staking on BNB Chain, withdrawing assets from Binance and in exchange-related products such as PancakeSwap.
It will be a big blow to the market. There will likely be an asset drain from Binance, and this will greatly damage the exchanges image globally. This will affect the price of Bitcoin and the entire system of assets on BNB Chain. There will likely be a new crash similar to what happened with Terra, with several investors withdrawing assets in protocol staking on BNB Chain, withdrawing assets from Binance and in exchange-related products such as PancakeSwap.
Ill be selling on the day it happens. Ill be buying in the next 48 hours after the event has already reached its bottom and buyers resume trading.
BTC Price on Dec. 31? I dont think it will be more than $40,000. There are studies that show that the impact of Bitcoins halving is decreasing. We could reach $40,000 if the Securities and Exchange Commission approves a Bitcoin spot ETF. Otherwise, a maximum of $35,000.
Related: Bitcoin ETFs: Even worse for crypto than central exchanges
In the nascent landscape of the blockchain market, accusations leveled against major players like Binance send shockwaves through the whole industry and its closely-knit community. And these allegations not only target specific individuals but also challenge the overall credibility and reputation of our sector. What follows is a dynamic process akin to a seismic event, reshaping perceptions and redefining power dynamics within the ecosystem.
But these shockwaves arent just disruptive; they foster growth and transformation, reinforcing the industrys values, unearthing its concealed resources, and nurturing sustainability and positive change. Amid challenges, the blockchain sector emerges stronger, fortified by its ability to embrace improvements and navigate vulnerabilities. And so does Bitcoin.
BTC Price on Dec. 31? For me personally, the value of Bitcoin is felt not as absolute numbers but rather as a comparative value with the strength of other currencies we use, and I strongly believe that in this sense, its value will only continue to grow, even while maintaining its volatility. If, on Dec. 31, one Bitcoin can buy one Tesla Model 3 [$32,740 after a tax credit, as of Aug. 8], I will even forgive Elon Musk for giving up on the bird. Maybe. (This is not investment or moral advice!)
Ive seen enough companies collapse to know that nothing and no one is too big to fail, crypto firm or not. That being said, it still seems unlikely that such charges would completely shut down cryptos biggest exchange.
However, charges for Binance would likely cause a dip in crypto prices and a shifting of funds to other exchanges or cold wallets. Another exchange could rocket up to the top position. Its happened throughout the history of crypto. If there is a sharp dip, Ill be buying.
BTC Price on Dec. 31? Finger in the air? $32,000. The Christmas period has historically been a positive one for Bitcoin, so assuming BTC trades mostly sideways for the next six months, we should get a little spike near Christmas.
Binance (mostly) doesnt operate in the U.S., so the impact, if any, will be minimal. The BitMEX case, which was very similar, resulted in $100 million in fines and house arrest for the founders, and thats it. Sure, there might be additional steps for U.S. market makers currently operating on Binance international, and U.S. citizens will be forced to use a VPN at all times when using the exchange, which may reduce volumes by 20%30% max. Other than that, if Bitcoin plunges solely due to Binances case, its a buying opportunity.
In my opinion, Tether remains the most significant risk for the ecosystem, as theres literally zero use for a stablecoin without fiat gateways (in theory).
BTC Price on Dec. 31? No idea. Seriously. I always bet on prices staying the same for zero to six months. My guess is that an ETF approval could cause between 50% and 130% gains in two months, so if we start at $30,000, we could get to $69,000.
Related: BlackRocks misguided effort to create Crypto for Dummies
If significant enforcement action came from the DOJ, to the extent of a Red Notice being issued for CZs arrest or Binance being shuttered even temporarily I think this would have a sharp, negative impact on the broader crypto market and Bitcoins price. Ive been looking at the Bitcoin price chart literally every day for more than six years, and Ive been buying the entire time. I dollar cost average and I no longer use derivatives heavily so Im agnostic to price and beyond any emotional shock from Binance blowing up and the impact it could have on crypto.
I pretty much view any sharp downside move in BTC and ETH as an accumulation opportunity. I also always use 1 BTC as a trading instrument, where I sell it at micro tops and rebuy at swing lows, so most of my Bitcoin has no cost beyond the cost of taxes on trading. For this reason, my risk tolerance might be different than other investors, and any sharp dip in BTC price is something I view as an opportunity. Somehow, this magic money always finds a way to go back up.
BTC Price on Dec. 31? I dont have any. The current trading range is too tight. Were still within that range, and volatility is at a multiyear low.
If the Justice Department drops charges against Binance, there will be a momentary price drop because of panic sellers. But it wont have a long-term effect. When Mt. Gox collapsed, people thought it was the end of Bitcoin because the exchange was managing 80% of the in-circulation BTC. But were here having the same discussion a decade later.
Im not going to panic sell even if the price drops. Im going to silently accumulate more Bitcoin and wait for the bull market to reap the rewards of patience.
BTC Price on Dec. 31? Bitcoins historical performance indicates something around the $25,000 mark. Im expecting it to momentarily fall in the third and fourth quarters of 2023, mainly due to rising regulatory hurdles, the governments growing affinity toward central bank digital currencies and the ongoing concern of ecosystem collapses.
However, this is all par for the course prior to the halving in April 2024. Bitcoins price has shot up every time weve had a halving event. Im utilizing the next three quarters to dollar cost average and accumulate as many Bitcoin/sats as possible.
Altcoins look appealing right now. Coins like Algorand are 5%10% off their all-time lows. They could sink a little before the market picks up, but thats more likely to be a product of time capitulation than of panic sellers reacting to a Binance indictment or any other news event. I doubt most tokens will drop more than 30% from here, regardless of what happens.
BTC Price on Dec. 31? $32,500. The only thing Im going to regret is that I didnt buy more. (But our readers may have regrets if they take my word for it.)
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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What will Bitcoin do if the Justice Department takes aim at Binance? - Cointelegraph
Ex Binance.US CEO Weighs In On Stablecoin Regulation, Claims A Boost For Dollar Adoption – Bitcoinist
Former Binance.US CEO and an ex-acting US Comptroller of the Currency Brian Brooks has commented on the ongoing discourse regarding stablecoin regulation in the US.
In an interview with CNBC on Friday, August 11, Brooks, now a partner at Valor Capital Group, took a stance against stablecoins opposition in the US government, saying that a proper regulatory framework for these assets could boost the relevance of the US dollar worldwide.
Stablecoins are a type of cryptocurrency with values pegged to a fiat currency, mostly the US dollar, or a commodity such as gold, oil, etc.
According to Brooks, nations with high inflation rates have a buoyant demand for dollar-backed assets such as stablecoins as citizens look to preserve the value of their investments and earnings.
The former acting US Comptroller of the Currency believes if the US government forms a system that oversees the use of the dollar as a reserve currency for assets, this could further boost the existing demand and even lead to a higher adoption of the US legal tender globally.
Brooks explained this to CNBC, saying:
Citizens in countries that have high inflation are really strongly demanding dollar-denominated products to keep their money safer after theyve earned the money. In many countries where you cant get a dollar bank account, stablecoins are your best solution.
If only the U.S. government would create a framework that allows dollars to back stablecoins in a regulated way, that demand would flourish. That would be good for dollar adoption globally, but as long as were allowing governments to suppress stable coins, you have the sort of push-pull phenomenon, which is what creates the problem.
To Brooks, the current demand for stablecoins can be utilized in leading the resurgence of the dollar, especially as most governments are actively working to reduce the dollars influence on their economy.
The former Binance.US chief expresses that policy regarding these assets should focus less on cryptocurrency but rather on the potential role the United States could play in the global financial system.
As earlier stated, there has been lots of discussion on stablecoin regulation in the US recently promoted by the action of several arms of the government.
On August 8, the US Federal Reserve introduced the Novel Activities Supervision Program which now mandates all banks in the US to obtain a written supervisory non-objection letter before dealing with dollar tokens.
Meanwhile, the US House of Representatives is set to vote on the Clarity for Payments Stablecoin. The bill was successfully cleared in July by the House Committee on Financial Services, and it aims to introduce regulations on the issuance and use of payment stablecoins in the US.
Featured image from PYMNTS, chart from Tradingview
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Liquid Supports Binance with eKYC solution in Japan – Yahoo Finance
Liquid has been selected as an Identity verification partner by Binance Japan.
In the first step of this initiative, LIQUID eKYC, an identity verification service, will be provided to Binance Japan.
TOKYO, Aug. 10, 2023 /PRNewswire/ --Liquid Inc., the company behind Japan's widely used eKYC solution "LIQUID eKYC", announced today its partnership with Binance, the world's leading cryptocurrency exchange by trading volume and users.
LIQUID eKYC offers top-in-class facial authentication through its unique AI-based image processing capability, enabling smooth identity verification in accordance with the respective legal and security framework in each country.
Takeshi Chino,General Manager for Japan at Binance said:"Binance's robust KYC framework plays a critical role in protecting the platform, users and community, and the entire ecosystem from potential threats. We are excited to launch our Japan platform in a fully compliant manner with stringent and comprehensive eKYC solutions enabled by Liquid. Binance will continue to uphold a high standard of safety and compliance in Japan."
Hiroki Hasegawa, CEO of Liquid, said:"LIQUID eKYC realises an identity verification process with an extremely low user drop-off rate through its superior facial recognition and ID document image recognition technologies. In fact, it has been implemented in a wide range of industries, including banks, cryptocurrency exchanges, Web3-related services, telecommunications carriers, antique (second-hand goods) buyers, the sharing economy, dating applications, and metaverse-related services. We are pleased to provide the necessary service that will allow them to continue serving more users in a secure and compliant manner."
About Liquid
Liquid aims to make a seamless world where all 7.7 billion people in the world can easily and safely use all services as they are by automatic and ubiquitous authentication. We provide our own Digital ID, KYC and Authentication service, where users can prove their identity anytime, anywhere in the world with their smartphone or face. We are expanding our service globally and use the know-how accumulated under the Japanese strict law and rule. We adapt our operations and services flexibly and quickly to changes in the required legal and security framework.For more information, visit: https://liquidinc.asia/global/
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About Binance
Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.For more information, visit: https://www.binance.com
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SOURCE Liquid, Inc.
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Liquid Supports Binance with eKYC solution in Japan - Yahoo Finance
Binance.US Boosts Shiba Inu With Enhanced OTC Trading – TronWeekly
Shiba Inu gained a major impetus when Binance.US updated the OTC trading portal and introduced new maximum order limits for SHIB. The move impacted 16 popular cryptocurrencies and 37 trading pairs as it went live on August 10, the blogpostread.
Theannouncementindicated that Binance.US raised the order limit for OTC trading of SHIB to $30,000. This enables traders to execute buy and sell orders for supported SHIB pairs on the Binance US OTC platform, with an upper cap of $30,000.
It needs to be mentioned that Binance and Binance.US are separate legal entities, although they share branding, technology, and ownership. The latter was created to cater specifically to U.S. customers and comply with U.S. regulations.
As outlined in the blog post, the OTC trading portal of the prominent cryptocurrency exchange permits traders to execute significant buy and sell transactions directly. This feature offers the advantage of safeguarding against market disruptions and ensuring that these orders remain confidential and do not appear on a publicly viewable order book.
Moreover, the trading pairs affected by this positive advancement for Shiba Inu users also included SHIB/USDT and SHIB/USDC. Besides SHIB, Binance US raised the maximum order limit for selected BTC, ETH, XRP, DOGE, and ADA trading pairs in its OTC portal. The new maximum OTC order limit for ADA also stood at $30,000. However, the exchange increased the price of BTC and ETH to $300,000.
A few days ago, Binance adopted SHIB as a collateral asset for its isolated, overcollateralized, and open-term Flexible lending service. This gave the meme token another boost. Binance Flexible loans enable users to open isolated loan positions, implying, each loan is treated independently. Users can add SHIB as collateral to borrow numerous cryptocurrencies without a fixed maturity date.
Amidst a flurry of attention-grabbing advancements within the meme token ecosystem, SHIBs social engagement has surged by almost 20%, propelling it to become the emerging standout on various social media platforms including Reddit, Twitter, and Telegram.
Over the past week, Shiba Inu has experienced a 10% increase, attributed in part to its developer teams introduction of a fresh digital identity service applicable to all of its applications.
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Binance.US Boosts Shiba Inu With Enhanced OTC Trading - TronWeekly
Reasons why Binance should be banned in Nigeria – CryptoTvplus
The Nigerian cryptocurrency industry has displayed persistent growth and heightened adoption. In the year 2022, Nigeria led the search for cryptocurrency-related information; out of 15 countries surveyed, Nigeria came first place for googling crypto-related information. Also, a 2022 data revealed that approximately 22 million individuals, accounting for 10.34% of Nigerias total population, are estimated to own cryptocurrencies. As Nigeria progresses in crypto usage and adoption, the nation is a key market for one of the most notable global crypto exchanges, Binance.
Binance is a leading cryptocurrency exchange and has emerged as a major player in the global financial landscape since its inception in 2017 by Changpeng Zhao, popularly known as CZ. Binance offers a diverse range of cryptocurrencies, facilitates trading, and has become a vital platform for users worldwide, including Nigeria.
Interaction with crypto exchanges like Binance in Nigeria among local crypto enthusiasts could pose several economic threats. Five possible threats include increased reliance on USD transactions, which could devalue the local currency. Secondly, cyber threats and breaches may compromise the financial security of investors. Furthermore, Illicit activities, including money laundering and fraud, could escalate, affecting the countrys financial integrity. Thirdly, increased adoption of cryptocurrencies and accessibility via platforms like Binance might reduce the governments control over monetary policy, potentially destabilizing the economy. Moreover, the digital divide could worsen, and market speculation might lead to financial losses and reduced public trust.
While these threats may appear compelling, there are six other reasons why banning Binance in Nigeria might not be the optimal solution.
In an era marked by technological advancements, the efficiency of financial transactions is important. Binances platform is characterized by its faster transaction times compared to traditional banks. This speed is particularly significant for cross-border transactions, enabling businesses and individuals to transact seamlessly and without unnecessary delays. By retaining access to Binance, Nigeria could strengthen its position in the global digital economy and enhance its attractiveness to foreign investors seeking efficient transaction methods.
High transaction fees often plague traditional cross-border transactions, acting as a hindrance to international trade and remittances. Binance addresses this challenge by offering cost-effective cross-border transaction fees. This affordability could have a transformative impact on Nigerias economy, encouraging greater participation in international trade and a more efficient receipt of remittances from the Nigerian diaspora. By allowing Binance to operate, Nigeria stands to benefit from increased economic activity and improved financial inclusion.
The modern financial landscape transcends borders, with digital assets allowing investors to access global markets with ease. Binance provides Nigerian traders and investors with an avenue to participate in the global market that runs 24/7, enabling them to diversify their portfolios and explore a wide range of investment opportunities. Banning Binance could limit Nigerians access to these global markets, depriving them of the chance to benefit from the potential growth and innovation offered in the cryptocurrency sector.
As governments worldwide seek innovative revenue sources, cryptocurrencies offer a compelling avenue. Binances operations in Nigeria could contribute to the generation of crypto tax revenue, which could fund critical sectors such as infrastructure, education, and healthcare. By establishing a regulatory framework that promotes responsible cryptocurrency use and tax compliance, Nigeria could harness the potential of cryptocurrencies to drive economic growth and development.
The Nigerian economy faces various challenges, including currency devaluation and limited foreign exchange reserves. Binances presence in Nigeria could potentially address these issues by providing an additional source of foreign currency exchange and boosting the value of the naira. Furthermore, fostering a supportive environment for cryptocurrency adoption and usage could attract foreign investments and stimulate economic growth. Rather than stifling innovation, the Nigerian government could leverage Binances platform to improve its economic resilience and long-term sustainability.
Nigerias unemployment rate surged to 37.7 percent in 2022 and is projected by KPMG Nigeria to rise further to 40.6 percent in 2023. In this context, Binances presence in the country holds the potential to counteract this distressing trend. In 2022, Binance partnered with BCAT Africa, an indigenous Blockchain Awareness and Education platform to launch a cryptocurrency awareness tour, an outcome that not only heightened awareness about cryptocurrencies but also imparted valuable skills to participants, effectively translating to creating jobs and transforming them into job creators. Trading the crypto market for profit on platforms like Binance could enhance funding systems for small-scale businesses in Nigeria. This will allow businesses knowledgeably trade the crypto market and fund their business without looking for VCs and government aid.
While concerns about regulatory compliance and potential economic risks associated with Binances operations in Nigeria are valid, a complete ban might not be the most prudent course of action. This thought was also amplified by Ernest Mbenkum, the CEO of Bantu Blockchain Foundation and Interstellar at the Stakeholders Policy Dialogue on the Implementation of the National Blockchain Policy organized by the NITDA in collaboration with SiBAN, where he argued against a blanket ban but for a balanced approach to regulating the blockchain industry in Nigeria. The benefits of retaining Binances presence in the Nigerian crypto market are numerous and far-reaching. Striking a balance between regulatory oversight and fostering innovation could position Nigeria as a forward-thinking player in the evolving global digital economy.
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Reasons why Binance should be banned in Nigeria - CryptoTvplus
Telegram crypto bots gain momentum in the market: Binance … – Cointelegraph
Telegram bots have been increasingly emerging as a new tool to get exposure to cryptocurrency markets and a number of related services.
The cumulative crypto trading volume associated with Telegram bots exceeded $190 million as of early August 2023, according to a new report by Binances research arm, Binance Research.
Crypto activity facilitated through Telegram bots has been specifically on the rise in recent months. On July 23, daily volumes of chatbot-enabled crypto trades hit a record high of $10 million, Binance Research analyst Jie Xuan Chua wrote in the report. User metrics also hit a record high in July, reaching more than 6,000 daily unique users.
In total, Telegram bots have collected more than 15,500 Ether (ETH), or about $28 million, in all-time revenue, Chua reported.
Just like common Telegram bots, cryptocurrency-enabled Telegram bots allow users to interact with certain programs to complete certain tasks by sending messages on the Telegram messenger. Such bots are often connected to peer-to-peer or decentralized cryptocurrency exchanges, enabling users to execute trades by using commands in the chatbot.
According to Chua, Telegram bots could potentially become an integral part of the cryptocurrency ecosystem, as they offer various types of crypto services, including trading, airdrop farming and automated token operations known as sniping. He added:
Telegrams recent sharp growth in activity related to Telegrams crypto trading bots should be attributed to the surging prices of related tokens. The Unibot (UNIBOT) token, which serves as the governance token on the eponymous trading bot on Telegram, rallied as much as 400% by late July, hitting an all-time high of $199 on July 28.
According to Chua, UNIBOT was a key contributor to the recent burst of activity on Telegram trading bots. The token reportedly accounts for over 77% of the market in terms of its market capitalization.
Related: Telegram Wallet bot enables in-app payments in Bitcoin, USDT and TON
The analyst suggested that its too early to tell if recent action in Telegram bots-enabled crypto activity suggests a trend reversal or merely represent[s] a blip before activity rallies again.
Nonetheless, we will likely see continued developments, at least in the near future, as projects compete for market share, Chua stated.
The analyst also called on users to conduct their own research before interacting with any Telegram bot. Considering the nascency of the sector, its essential for users to be aware of associated risks, including those related to the security of assets and smart contracts, he added.
Magazine: Deposit risk: What do crypto exchanges really do with your money?
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Telegram crypto bots gain momentum in the market: Binance ... - Cointelegraph
Livepeer (LPT) Goes Parabolic With Epic 30% Pump on Binance … – Captain Altcoin
Home Journal Livepeer (LPT) Goes Parabolic With Epic 30% Pump on Binance What Instigated the Run?
There has been a noticeable surge in the price of $LPT on Binance, sparking interest and curiosity among both new and experienced traders. Wendy Orchid, an analyst, has shared the reasons behind this significant price increase and provides insights into the promising world of Livepeer.
Livepeer stands out as a decentralized video streaming protocol that operates on the Ethereum blockchain. Its primary goal is to facilitate decentralized live video applications, enabling users to both stream and view videos in a cost-effective and smooth manner.
The protocol employs a decentralized approach to distribute video transcoding across various servers. This not only enhances the performance and reliability of video streaming but also cuts down costs for users. Some of the renowned video streaming applications such as DLive, Theta.tv, and Livepeer.tv have integrated Livepeer into their platforms. Furthermore, notable investors like Andreessen Horowitz, Coinbase Ventures, and Pantera Capital have shown their support for Livepeer.
LPT, an ERC-20 token, is the driving force behind the Livepeer network. These tokens are primarily used to remunerate for video transcoding services and to bolster the networks security. The distribution of LPT tokens is carried out through various means such as staking, mining, and the Livepeer Foundation. Designed with the intent to encourage participation, decentralize the network, and bolster security, LPT tokens play a pivotal role in the ecosystem.
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Livepeers journey ahead is marked by several milestones:
The platform has showcased commendable progress and has set its sights on continued growth and evolution in the foreseeable future.
At the heart of Livepeer is a team of skilled and seasoned engineers and developers, all united by their passion for shaping the future of decentralized video streaming. The team operates under the leadership of Doug Petkanics, a veteran with over two decades of experience in technology and a renowned expert in online video streaming. With a commitment to open-source development, the team actively collaborates with the Ethereum community, working tirelessly to establish Livepeer as the premier decentralized video streaming platform.
Theres a palpable excitement surrounding Livepeers potential to redefine the landscape of video streaming. As a decentralized platform, it promises to make video streaming more affordable, reliable, and secure. Given its innovative approach and the myriad benefits it offers, Livepeer undoubtedly holds the potential to transform the way we engage with media.
Join us on Facebook and Twitter for the latest insights and discussions in the world of crypto.
Explore our news section and stay ahead of the curve with our expert price predictions.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
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Livepeer (LPT) Goes Parabolic With Epic 30% Pump on Binance ... - Captain Altcoin
‘BitForge’ security flaw to threaten Binance, Coinbase, and other … – Cryptopolitan
Description
Recent revelations indicate that a host of leading cryptocurrency wallet providers were susceptible to potential security breaches. These vulnerabilities, now known as BitForge, have highlighted the inherent cyber risks in the cryptocurrency realm, even as the world grapples with increasing adoption and tighter regulatory oversight. Cybersecurity company Fireblocks presented its findings at the Black Hat Read more
Recent revelations indicate that a host of leading cryptocurrency wallet providers were susceptible to potential security breaches. These vulnerabilities, now known as BitForge, have highlighted the inherent cyber risks in the cryptocurrency realm, even as the world grapples with increasing adoption and tighter regulatory oversight.
Cybersecurity company Fireblocks presented its findings at the Black Hat USA conference, disclosing that over 15 predominant cryptocurrency wallets, making up over 80% of the market, were affected. These vulnerabilities could have easily been harnessed to compromise user funds on celebrated exchanges, including Binance and Coinbase.
These security flaws primarily targeted multiparty computation protocols (MPCs). MPCs typically fracture private keys into multiple fragments, dispersed over different devices. This method should ideally bolster security. However, it was discovered that certain implementations of MPCs made it feasible for malicious actors to access the full key after merely 16 transactions. Such rapid-fire transactions could occur within seconds on high-frequency wallets.
Fireblocks CEO, Michael Shaulov, explained the simplicity of exploiting these vulnerabilities. He remarked, The BitForge vulnerabilities operate in line with common cyber-attack mechanisms. A single compromised user through malware is all thats needed. This underscores the ever-present threat of malware, often delivered via phishing scams designed to deceive users into downloading malevolent software or revealing sensitive data.
This vulnerabilitys disclosure comes amidst a mixed landscape of crypto crimes. While the overall figure was down 65% to $3.3 billion in H1 2023 from 2022, ransomware attacks malicious software that encrypts a victims files and demands payment for their release, typically in cryptocurrency are rising sharply. These are predicted to nearly touch $900 million this year, only slightly behind 2021s $940 million.
The international community and regulatory bodies have long been apprehensive about cybersecurity linked to digital assets. Given the burgeoning incidents of cryptocurrency thefts, many governments are ramping up efforts to integrate digital assets and their providers within a regulatory framework. As an illustration, Hong Kongs Securities and Futures Commission (SFC) now necessitates cryptocurrency exchanges operating within its jurisdiction to acquire a license. This move seeks to impose benchmarks in cybersecurity, private key management, and other areas.
However, uncertainties remain. While Fireblocks has pinpointed vulnerabilities in a significant number of wallet providers, determining the exact number affected by these flawed MPC implementations remains elusive.
Fireblocks research pinpointed vulnerabilities in implementations of certain multi-party computation (MPC) protocols, specifically GG-18, GG-20, and Lindell17. These vulnerabilities were traced back to deviations from standard implementations or previous efforts to patch known flaws.
Notably, GG-18 and GG-20 protocols faced issues where earlier attempts to rectify vulnerabilities inadvertently introduced newer ones. Lindell17s flaw, on the other hand, revolved around deviations from the original academic specifications and mishandling of failed signatures.
As a testament to industry collaboration, Fireblocks undertook a 90-day disclosure process. Their endeavors were met with a proactive response. Leading wallet providers, particularly Coinbase WaaS and Zengo, were commended for their swift action in addressing and rectifying the security flaws.
As digital currencies continue to weave themselves into the worlds financial fabric, its evident that maintaining cybersecurity will remain a top priority for providers and regulators alike.
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'BitForge' security flaw to threaten Binance, Coinbase, and other ... - Cryptopolitan
Analisys crypto of Stellar, Cosmos and Binance – The Cryptonomist
In this article we look at the latest relevant news and a price analysis for the crypto assets Stellar (XLM), Cosmos (ATOM) and Binance Coin (BNB).
What does the cryptocurrency market have in store for us these days?
All the details below.
The latest crypto news for Stellar talks about the launch of a series of incentive programs that are part of the $100 million Soroban fund, aimed at helping the developer community test and experiment with projects on the smart contract platform.
In total there are 7 different programs that have already been launched or will be launched soon: Sorobounty Spectacular, Sorobanathon: Road to Mainnet, Stellar Community Fund (SCF), SCF Startup Camp, Soroban Dapps Challenge, RPCiege, and Soroban Quest.
Each of these is aimed at a certain class of developers with different skills and experience.
Speaking instead of Cosmos, it is worth noting the latest announcement by the Wormhole Foundation, which has launched an application, powered by the Cosmos SDK, to expand access to the interchain.
It is Wormhole Gateway and will help bring liquidity within all 23 blockchains connected to the project, improving security and protocol sovereignty.
Through a simple IBC integration, users will be able to link their funds to any IBC chain without added bridging costs.
The Cosmos SDK framework helps increase transparency and allows Wormhole to use IBC clients to facilitate liquidity transfers within the interchain while maintaining the free-flowing characteristics of the data.
Finally, as far as Binance is concerned, there is absolutely no denying the exchanges latest collaboration with Canadian singer-songwriter The Weeknd who participated in his world tour, which began on 6 June.
Binance presided over all of the artists concerts bringing various gadgets and organizing some events to enhance the fan experience in the web3 world.
In particular, the exchange organized some after hours and gave away commemorative NFTs from the concert.
In parallel, at each of The Weeknds stops, a huge cube with the Binance logo was brought in on which an immersive AR experience was featured.
The last concert was in Prague and involved more than 60,000 people.
These kinds of participations by crypto service providers such as Binance help bring the younger generation into the world of web3 and enhance their brand in front of different audiences than those encountered in financial circles.
Lets now move to the markets and individually analyze the price-level situation of the crypto assets Stellar (XLM), Cosmos (ATOM) and Binance coin (BNB)
Starting with Stellar (XLM) we can immediately observe the positivity of the price action over the past month, propelled by the successful outcome of Ripples lawsuit against the SEC.
As Stellar is related to the blockchain network for transnational trades, on the day the court victory was announced, XLM pumped more than 60%.
In the following days, prices slightly corrected their trajectory by going into a bull flag with base at $0.13 and high at $0.19.
It is important for the cryptocurrency that the structure is not compromised and remains above the 60-period exponential moving average on the daily to continue the bullish trend.
Next target $0.236 where two tops touched in the past by the crypto converge.
In case of a bearish break, prices could easily return to the $0.1 area.
On the Cosmos (ATOM) front, things are decidedly worse: after closing out 2022 with a good year-end rally, the cryptocurrency saw a 2023 marked by only declines, with prices holding steady below the EMA 10 on the daily.
A few barren attempts at an upward restart were promptly blocked by the bears that drove ATOMs value further downward.
Hence, the main trend is purely bearish, and the ending scenario for this years EMA is unchanged.
However, we may find a good entry for a speculative long as soon as (and if) the chart touches oversold levels in the RSI indicator, as happened for example on 10 June.
If you believe in the Cosmos project and the future of the interchains, no worries: these moments could be important to accumulate your holding and lower the average carrying price.
Finally, analyzing Binance coin (BNB) we cannot but notice an excess of volatility in the asset during 2023, driven by lawsuits and regulatory issues affecting federal agencies on various continents.
The exchange is working hard so that it can obtain the proper licenses in all the countries where it operates, although the undertaking is not trivial.
The failure of some of its actions in this area and the SEC attack have caused the value of Binance coin (BNB) to decline this year.
We are currently in a phase of lateralization, waiting for new stimulus to push prices toward a recovery of lost ground.
Although we are still in an uncertain market and there are few trading volumes on crypto market platforms, Binance still remains the leading exchange in the sector and its coin will be the first to pump in the event of a return to the bull market.
Therefore, no fears in the long run for BNB, which will find more serene moments.
In the short term, for an immediate restart it is first necessary to recover the $250 threshold, on which the daily EMA 60 flows, and then attack $280 and later $300.
The bearish scenario could instead see a return of the currency to the $220-$210 area.
In order to find a complete analysis cue of the altcoin sector of the crypto market and better understand the price action of Stellar, Cosmos, and Binance Coin, it is essential to take a look at the total market cap chart of the sector.
Removing the respective values of Bitcoin and Ethereum from the chart will provide a more realistic view of how much capital is entering/exiting the alt sector.
At this time it is obvious that investor interest is very low, with really sterile volatility and really low netflow.
Unlike the bull market period where several tens of billions of dollars were coming in every week, and the bear periods where as much was going out, right now we see little movement.
The total market cap (excluding BTC and ETH) currently comes in at $339.9 billion with a chart that is trending slightly downward.
It is difficult to find any cues to trade in the short term, whereas in the long term we can take advantage of these opportunities to increase holding positions.
A recovery of the $400 billion and later the $500 billion could trigger a restart of the whole market bringing back the much-loved alt-season that traders like.
Before then, there is much to watch out for.
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Analisys crypto of Stellar, Cosmos and Binance - The Cryptonomist
Securities Litigation Attorney Comments On Bittrex Settlement: Don’t Expect Same Treatment For Binance – Crowdfund Insider
This week the Securities and Exchange Commission (SEC) announced a settlement in its enforcement action against Bittrex as well as a foreign affiliate. Bittrex agreed to a total penalty of $24 million. As part of the settlement, Bittrex neither admitted nor denied the SECs allegations, a frequent occurrence in these cases. The SEC had claimed that Bittrex operated as an unregistered broker, change, and clearing entity in handling digital assets.
At one point, Bittrex was one of the largest crypto exchanges offering services in the US.
Former Special Trial Counsel in the SECs Division of Enforcement Arthur Jakoby, now an attorney at Herrick, Feinstein, shared his thoughts with CI on the SECs settlement.
Jakoby explained that the settlement does not necessarily foreshadow an end result regarding the SECs actions against Coinbase and Binance:
The Bittrex settlement does not portend similar SEC settlements for crypto exchange platforms such as Coinbase and Binance. Since Bittrex Global had already closed down its US operations and put it into bankruptcy, it will not be affected by this settlement. Thus, there was no need to fight the SEC to establish that its now-closed operations were securities compliant. Beyond the claims of operating an unregistered broker, exchange, and clearing agency, Bittrex and [William] Shihara [former CEO of Bittrex] had also been charged with scrubbing its website of any statements that would suggest violations of U.S. securities laws. This settlement was undoubtedly influenced by these additional actions in order to escape regulatory scrutiny. The settlement, which does not require an admission of any facts by either Bittrex or Shihara, avoids any further SEC investigation of these allegations.
Binance is the largest crypto exchange in the world, with Coinbase in second place. Any decision by the SEC regarding both firms will have a sweeping impact on the industry unless Congress acts first to provide clarity in digital asset trading.
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