2023-11-09 17:10

Copyrighted Image by: Reuters. The US dollar is showing signs of strain against commodity currencies, despite the rise in yields, indicating a market shift favoring growth over rate differentials, as reported on Thursday. This situation emerges as the Federal Reserve considers potential further rate hikes that could have adverse effects on the US economy. Earlier this week, an attempt by the Reserve Bank of Australia (RBA) to implement a dovish hike backfired, leading to a downturn for the Australian dollar. The fallout was attributed to concerns about housing and economic growth. Meanwhile, a noteworthy correlation between bonds and oil prices has come to light. A drop in crude prices led 10-year yields to retest the 4.50% mark, but a subsequent rebound in oil prices caused these yields to rise again. This tightening relationship was highlighted by BMO, suggesting that shifts in the energy sector and potential inflationary implications from oil markets could influence the direction of nominal yields. It remains to be seen how these various factors will play out in the coming weeks and their potential impact on global markets. As always, investors are advised to stay informed and watch for developments closely. https://www.investing.com/news/forex-news/us-dollar-faces-pressure-amid-rising-yields-and-commodity-currencies-strength-93CH-3229398

2023-11-09 17:01

Copyrighted Image by: Reuters Binance CEO Changpeng Zhao (CZ) addressed key concerns and outlined future plans during a video conference at the Binance Blockchain Week Istanbul event today. His remarks focused on the company's commitment to DeFi Wallet development, regulatory compliance, and Turkey's crucial role in the crypto industry. CZ recognized the Binance Web3 Wallet as a small but essential step towards broader crypto adoption, emphasizing its role as a secure and user-friendly platform. This comes after a challenging period for the company, marked by financial losses and reputational damage. In 2023, Binance has been focusing on recovery efforts, particularly building trust and ensuring compliance. CZ expressed optimism about the potential approval of Spot Bitcoin ETFs, a development that could significantly impact the cryptocurrency market. Looking ahead to the upcoming Bitcoin halving in 2024, CZ cautioned investors against obsessing over price fluctuations. He discouraged expectations of an immediate price surge post-halving, advising investors to disregard Fear, Uncertainty, and Doubt (FUD). CZ's comments underscore Binance's commitment to navigate regulatory challenges and further develop its DeFi Wallet. His emphasis on Turkey's role in the crypto industry also highlights the country's growing importance in this rapidly evolving market. https://www.investing.com/news/cryptocurrency-news/binance-ceo-addresses-recovery-efforts-and-future-plans-at-blockchain-week-istanbul-93CH-3229384

2023-11-09 16:57

Copyrighted Image by: Reuters Polygon Labs, a leading provider of Ethereum's layer-2 network, has initiated a substantial grant program Today, aiming to fuel the development of applications on its platform. The company has allocated 110 million MATIC tokens, equivalent to $85 million, for projects across diverse sectors including decentralized finance (DeFi), gaming, and social media. The grant program is structured to cater to both early and later-stage projects. Direct grants of up to 2 million MATIC ($1.55 million) are available for mature projects. On the other hand, early-stage initiatives can apply for quadratic funding grants. This unique funding model allows community-driven fund allocation, thus fostering a more inclusive and democratic approach to resource distribution. By launching this initiative, Polygon Labs is intensifying its efforts to become the preferred technology provider for constructing layer-2 networks within Ethereum's blockchain ecosystem. Layer-2 networks like Polygon are vital in enhancing the scalability of layer-1 blockchains by alleviating traffic congestion. This move comes amidst an increasingly competitive landscape where firms such as Polygon Labs and Kraken vie for dominance in the blockchain technology space by attracting developers and key stakeholders in the crypto industry. https://www.investing.com/news/cryptocurrency-news/polygon-labs-announces-85-million-grant-program-to-bolster-app-development-93CH-3229367

2023-11-09 16:26

Copyrighted Image by: Reuters. BlackRock (NYSE:BLK), the world's largest asset manager, has registered the iShares Ethereum Trust in Delaware on Thursday, mirroring its earlier registration of the iShares Bitcoin Trust. This move comes as the industry anticipates the approval of a Bitcoin ETF, potentially positioning Ethereum as an institutional investment asset. Today's registration sparked a 6% surge in Ethereum's price to $2,010. This is reminiscent of BlackRock's previous Bitcoin Trust registration that led to a significant increase in Bitcoin's price to $30,000 and inspired similar moves from Fidelity and Franklin Templeton. The Securities and Exchange Commission's (SEC) history of delaying Bitcoin ETFs adds an element of uncertainty to Ethereum's future. Despite this, BlackRock's entry into the market and Grayscale’s recent court victory are significant events that could pave the way for Ethereum ETFs. Competition in the crypto space is heating up with entities such as VanEck, Ark/ 21Shares, Galaxy/ Invesco, and Grayscale's $5 billion Ethereum Trust also pursuing Ethereum ETFs. Despite no spot crypto ETFs being approved yet and the lukewarm performance of Ethereum futures ETFs, Bloomberg analysts Eric Balchunas and James Seyffart predict a Bitcoin ETF approval by January. The crypto community is now eagerly awaiting the SEC's decision on pending rule changes and BlackRock's Ethereum Trust approval. Amid these developments, Ethereum's price surge beyond $2k underscores the growing integration of traditional finance and digital assets. An early news leak regarding BlackRock's registration may have influenced this price surge. As these events unfold, they mark a pivotal moment in the fusion of conventional financial systems with digital assets. https://www.investing.com/news/stock-market-news/blackrock-registers-ishares-ethereum-trust-amid-crypto-market-anticipation-93CH-3229296

2023-11-09 15:36

Copyrighted Image by: Reuters In a move to increase Ethereum's decentralization and security, StaFi Protocol announced the implementation of Distributed Validator Technology (DVT) from the Shared Security Validator (SSV) network into the Ethereum mainnet today. This integration enhances node accessibility for validators staking $rETH, tokens symbolizing staked ETH. The DVT allows validators to operate across multiple nodes or machines. It employs various security measures aimed at preventing validator key theft and slashing. A Distributed Verifiable Threshold (DVT), which is part of the technology, protects the validator's staking private key until a majority of Co-Validators breach security. This feature enhances validator information security and operational safety. Incorporated into StaFi's Ethereum liquid staking solution through the Router module, DVT also introduces Decentralised VPN (DVPN) to the system. The Router module plays a critical role in implementing Distributed Virtual Trust (DVT), further boosting Ethereum network security and decentralization. The Router module maintains balance in the staking pool and reserves a specific amount of ETH for withdrawals. Users can contribute 12 ETH as validators if the pool balance exceeds 20 ETH, with the Router manually activating once the total reaches 32 ETH. This integration of DVT via StaFi's Router has advanced liquid staking, improving Ethereum network security, decentralization, and validator efficiency. The move is expected to have significant implications for how validators interact with the Ethereum network and manage their stakes. https://www.investing.com/news/cryptocurrency-news/stafi-protocol-integrates-distributed-validator-technology-into-ethereum-mainnet-93CH-3229190

2023-11-09 14:51

Copyrighted Image by: Reuters. In a series of alarming incidents, Bitcoin personalities in Sweden have been targeted by criminals exploiting the country's public access laws. The most recent attack occurred on Monday when a middle-aged couple was subjected to a home invasion by four masked men seeking their Bitcoin holdings. Using the couple's kitchen knives, the criminals inflicted physical abuse and threats to achieve their goal. The incident was publicized on Tuesday by Eric Wall, a board member of the StarkNet Foundation, on X post (formerly Twitter). Wall emphasized the victims' ordeal of enduring extended violent abuse while their Bitcoin stored in hardware wallets was targeted. This incident is similar to previous attacks on two other prominent figures in the Bitcoin and cryptocurrency community. These attacks are not isolated events. Wall traced the origin of this criminal trend back to 2022, citing an incident where a well-known Swedish Bitcoin enthusiast's apartment was burglarized. The root cause of these attacks, according to Wall, is Sweden's Offentlighetsprincipen laws, which allow public access to personal data such as residential addresses and tax records. He argued that criminals are misusing these laws and social media to identify and target individuals involved in Bitcoin or other cryptocurrency activities. Wall criticized the laws for enabling criminals to estimate potential targets' wealth based on their income or capital gains tax records. He noted that these laws had driven him to leave Sweden, describing it as unsafe for cryptocurrency enthusiasts. These incidents underline the growing security risks faced by individuals involved in cryptocurrency activities and raise questions about the balance between public information access and personal privacy. https://www.investing.com/news/cryptocurrency-news/bitcoin-personalities-in-sweden-face-home-invasions-due-to-public-data-access-93CH-3229137