Block Network

January 13, 2021

BitMEX turns to Chainalysis to solve legal woes, or at least soften the CFTC’s blow

If you can’t beat ’em, join ’em? BitMex onboards more aggressive Chainalysis measures in advance of a response to the CFTC. Still facing a courtroom assault in the U.S. for allegedly facilitating money laundering, BitMex is trying to show regulators that it’s trying.  On Jan. 12, the legally besieged crypto exchange released a blog post […]

3 key reasons why the DeFi sector is booming again

Mergers between sector leaders, rising TVL, and traders looking for fast returns are the primary factors behind the current DeFi boom. Data from Messari shows that over the past 30 days, the majority of tokens listed on the site’s DeFi Assets index have rallied by more than 20%. A few standouts such as Maker’s MKR, […]

Bitcoin price stuck at $32K–$35K: Likely outcomes of BTC ‘flush’ drop

As Bitcoin ranges between $32,000 and $35,500, traders and technical analysts discuss what may come next for BTC. In the short term, the crucial technical resistance level is $35,500. Throughout the past 24 hours, Bitcoin has continuously rejected at that level. When Bitcoin rose to around $35,500 on Binance earlier on Jan. 13, it saw […]

An online future for finance is inevitable, says OCC’s Brooks

Brooks considers the migration of the financial system onto the internet “inevitable.” The departing leader of the United States Office of the Comptroller of the Currency is convinced that the future of finance is blockchain-native, per a conversation with crypto analytics firm Elliptic on Wednesday. Described by Elliptic CEO Simone Maini as “a fairy godfather […]

Financial advisers are betting on Bitcoin as a hedge

A new Bitwise survey highlights a more favorable attitude toward Bitcoin and cryptocurrencies. Cryptocurrencies like Bitcoin (BTC) are increasingly being used by financial advisers as a hedge against inflation, underscoring the dramatic shift in institutional sentiment toward digital assets.  The “Bitwise/ETF Trends 2021 Benchmark Survey” reveals that 9.4% of financial advisers were allocating to cryptocurrencies in […]

Price analysis 1/13: BTC, ETH, XRP, LTC, ADA, BCH, DOT, XLM, LINK, BNB

Traders are shifting funds into select altcoins as Bitcoin price trades in a sideways range. The top 100 richest Bitcoin (BTC) addresses have added 334,000 Bitcoin to their existing holdings over the past 30 days, a clear signal that whales and institutional-size investors bought the dip. A positive sign is that most of them have […]

Yearn proposes “buyback and build” strategy for YFI holders

Instead of receiving dividends, Yearn.finance would buy and redistribute tokens with protocol revenue. The Yearn.finance community is introducing a proposal to reform the current token economics of YFI. Popularly called “buyback and build,” the proposal aims to bolster the project’s treasury while also generating value for all stakeholders. Its list of authors includes Yearn core […]

$2.2M Beeple NFT art drop to be tokenized in virtual music festival

The free festival will display the collection in several virtual metaverses and feature a live performance from DJ and producer 3LAU. Metapurse, a crypto and NFT fund financed by renowned NFT collector Metakovan and stewarded by Twobadour, recently announced that it had acquired all 20 of the 1/1 NFT artworks auctioned in December’s Beeple Everydays: […]

Bitcoin has actually only taken 2% of gold market cap, new data suggests

Getting to 10% of gold’s market cap would mean that each bitcoin costs $154,000, says CryptoQuant. Bitcoin (BTC) has much further to go to suck away even 10% of gold’s market cap than old data claims, a popular indicator reveals. Highlighting numbers from Bitcoin’s realized cap on Jan. 12, Ki Young Ju, CEO of on-chain […]

Digital ruble could be still vulnerable to fraud, Russian banks warn

The Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble. Russia’s central bank digital currency, or CBDC, could contain a number of risks related to cybersecurity and fraud, according to several local financial institutions. The Association of Russian Banks, or ARB, has released its official […]