Crypto
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Are we still mad at MetaMask and ConsenSys for snooping on us?
The cryptocurrency community has a tendency to fixate on a new issue every few weeks and then promptly forget about it. The limited attention span of this community misses the ultimate resolution of important issues. Over the Thanksgiving holiday in November 2022, ConsenSys released a disclosure about a privacy policy affecting MetaMask users that sent “Crypto Twitter” into a firestorm. My first reaction was also negative. That’s what a sly fox would say isn’t it? pic.twitter.com/PfKMTiNHoR — J.W. Verret, JD, CPA/CVA (@JWVerret) November 25, 2022 The MetaMask browser extension wallet uses a node called Infura. That node is owned by ConsenSys, the same company that develops MetaMask. The press release reminded users that Infura collects the internet protocol (IP) addresses and wallet addres...
Crypto recruitment execs reveal the safest jobs amid layoff season
Despite a wave of heavy crypto layoffs to start the new year, employees in technical and engineering roles, as well as senior management, will likely continue to see “strong demand” for their skills, recruitment professionals believe. It’s been a tough first few weeks of 2023 for crypto businesses and their staff. Within just two weeks, the market has already seen more than 1,600 crypto-related job cuts as a result of continued market volatility and uncertainty. However, not all departments have seen the same level of cuts. SAFU: Senior-level tech and engineering Rob Paone, founder and CEO of crypto recruitment firm Proof of Talent, told Cointelegraph that technical and engineering roles are by a “wide margin” the most in-demand jobs, even during bear markets. He said his ...
Masa Finance launches soulbound Web3 identity protocol for Ethereum
Masa Finance has launched the first soulbound identity protocol for the Ethereum mainnet, according to a Jan. 17 press release shared with Cointelegraph. The protocol will allow for standardized soulbound tokens to be minted on Ethereum for Know Your Customer verification, credit scores and other use cases. Soulbound tokens are tokens that cannot be transferred from one wallet to another. The concept was popularized via a blog post from Vitalik Buterin, who argued that these tokens could be used to signify governance rights for decentralized finance (DeFi) protocols or to prove that a person has attended an event. Speaking to Cointelegraph, Masa Finance founders Brendan Playford and Calanthia Mei argued that soulbound tokens will expand opportunities for DeFi users to build credit and get ...
‘To the moon’ or ‘total crash’? Bitcoin price hits new 4-month highs
Bitcoin (BTC) spiked higher around the Jan. 17 Wall Street open as nervous analysts waited for further cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Opinions diverge over Bitcoin’s fate Data from Cointelegraph Markets Pro and TradingView showed BTC/USD briefly touching $21,594 on Bitstamp, marking its highest since Sep. 13. As bullish impulses continued to hit the chart, reactions stayed conservative amid an atmosphere of suspicion over the true source of Bitcoin’s return to form. One such cautious take came from Michaël van de Poppe, founder and CEO of trading firm Eight, who eyed behavior around a key exponential moving average (EMA) across crypto. “Food for thought; Total market capitalization and the altcoin market capitalization are both at the 200-day EMA...
Is this a bull run or a bull trap? Watch The Market Report live
This week on The Market Report, the resident experts at Cointelegraph discuss whether the recent and long-awaited Bitcoin (BTC) price rally is a bull run and the beginning of the next bull market or whether it is just a bull trap and investors should be cautious. We start off this week’s show with the latest news in the markets: Bitcoin price breakout or bull trap? 5K Twitter users weigh in Bitcoin is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD remains under suspicion among Bitcoin bear market survivors. Crypto Twitter is abuzz with everyone from professional traders to crypto newbs weighing in on the recent price action. Some are calling it a bull trap, while others...
Price analysis 1/17: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT
Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November. Bitcoin (BTC) led the recovery in the crypto markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52 on Jan. 15, its highest since April 5, 2022. However, the index has given back its gains and is again back into the Fear zone on Jan. 17. Daily cryptocurrency market performance. Source: Coin360 The strong rally in Bitcoin has divided analysts’ opinions. While some expect the rally to be a bull trap, others believe that the up-move could be the start of a new bull market. The confirmation of the same will happen...
Putting carbon credits on blockchain won’t solve the problem alone: Davos
Simply trading carbon credits on the blockchain won’t solve much for the environment. Carbon blockchain executives argue that companies must understand why they’re using them and how to make a real impact. During a panel session in Davos, Switzerland, moderated by Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr on Jan. 16, several executives from carbon blockchain platforms spoke about the increasing interest from companies in carbon trading. Karen Zapata, the chief operating officer of carbon blockchain platform ClimateTrade, said that sustainability had been a “trending topic” with many companies keen to get involved, but noted that many still don’t understand it. She recalled talking to a sustainability manager of a “big, big company” who told her he doesn’t know what a carbon...
Bank of England governor questions need for digital pound
Andrew Bailey, the Bank of England (BoE) governor, expressed skepticism on the need for a digital pound shortly after finance ministers from eurozone countries backed further work on a digital euro. The BoE governor recently questioned the need for a wholesale central bank digital currency (CBDC), citing that there already is a “wholesale central bank money settlement system with a major upgrade.” In addition, Bailey also expressed that there are no plans to abolish cash regarding retail use. The BoE governor does not believe that retail payments need to change at the moment. He explained: “We have to be very clear what problem we are trying to solve here before we get carried away by the technology and the idea.” Bailey’s comments follow new CBDC developments in the eurozone and rec...
Crypto mining stocks surge to yearly highs after Bitcoin bounces back
The Bitcoin (BTC) price rebound to a multi-month high has also positively affected mining stocks. Many crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also relieved the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity in 2022. Bitfarms — one of the top BTC mining firms — registered a 140% surge in the first two weeks of January 2023, followed by Marathon Digital Holdings with a 120% surge. Hive Blockchain Technologies saw its stock value nearly double in the same period, while the MVIS Global Digital Assets Mining Index is up by 64% in the first month of the new year. The Luxor Hashprice Index, which aims to quantify how much a miner might make from the processing power used by the Bitcoin network...
Troubled crypto lender Vauld gets extended creditor protection
Embattled crypto lending platform Vauld one more time gets the period of creditor protection from a Singapore court. The company should come up with a revival plan before Feb. 28. As reported by Bloomberg on Jan. 17, Vauld has been granted more than a month to close its negotiations with one of two digital-asset fund managers to take over the executive control of the tokens stuck on its platform. Apparently, the Singapore high court was satisfied by the company’s claim that the negotiations have entered to the “advanced stage.” In July 2022 the platform halted the withdrawals for its 800,000 customers, citing unfavorable market conditions and an unprecedented $200 million worth of withdrawals in under two weeks. In August, it has already been granted a three-month moratorium to come ...
EU finance ministers’ group releases statement on political aspects of digital euro
The finance ministers from the eurozone countries have released a statement on the introduction of the digital euro after a meeting in Brussels. The Eurogroup meets regularly to discuss political dimensions of the potential digital currency, it said. The Jan. 16 statement coincides with the release of a European Central Bank (ECB) “stock taking” document detailing the progress of digital euro design. The Eurogroup statement addressed the need for the European Central Bank and European Commission to inform the Eurogroup and EU member states of developments in the creation of the digital euro, which is in its investigative phase. The statement said: “The Eurogroup considers that the introduction of a digital euro as well as its main features and design choices requires political decisions th...
CoinFLEX attempts to hose down backlash over proposed new 3AC project
Amid mounting criticism on social media, crypto investment firm CoinFLEX has attempted to clarify its plans to build a new crypto exchange with Three Arrows Capital (3AC). A leaked pitch deck on Jan. 16 revealed it was collaborating with the now-bankrupt hedge fund to build a proposed crypto exchange called “GTX” — which would focus on the trading of claims against bankrupt firms. In a blog post published shortly after, CoinFLEX went on to “clarify misconceptions about the leaked materials concerning the proposed ‘GTX’ Exchange.” Firstly, CoinFLEX said it won’t actually be using the “GTX” name as detailed in the pitch deck, noting that it only serves as a placeholder name for now. Some members of the community had ...
