Crypto News Archive - Seite 1735 von 1838 - Finanzmittel Info + Krypto + Geld + Gold

16. Februar 2022

DEX platform Portal outlines multi-chain future without ‘risky’ wrapped tokens

Portal says centralization and wrapped tokens have been the “curse of cross-chain bridges”
“When hundreds of Millions and Billions of dollars are being secured by poorly engineered systems and custodians with untested security practices, it becomes hard to secure user funds,” says Portal executive chairman Chandra Duggirala.

Portal, a cross-chain decentralised exchange (DEX) built on Bitcoin wants to advance a crypto future where multi-chains thrive without the need for wrapped tokens or third-party custody providers.

The platform, which offers a DeFi ecosystem it says provides for anonymous, zero-knowledge transactions and a cross-chain DEX featuring trust-minimised functionality has pointed out the security threats linked to wrapped tokens.

In a press statement released recently, the Portal team says its technology will eliminate the minting of wrapped coins such as wBTC and wETH as well as the risky staking users have been falling victim to when leveraging intermediaries.

Chandra Duggirala, Portal’s executive chairman said bridges “are hard to reason about.” according to him, the chains only work on the “guarantees of an IOU” and having billions of dollars worth of assets on these bridges is basically putting trust in “poorly engineered systems and custodians with untested security practices.”

“We like simplicity, and trusting proven, lasting contract types and transaction models that Bitcoin has versus all sorts of experimental approaches to real user money,” he added.

Johnny Dilley, the inventor of Liquid Federation (Blockstream) noted:

“The industry needs a smarter, permanent answer for cross-chain asset movement, and Portal represents the best step forward on that path. “

Centralised platforms make cross-chain bridges even more vulnerable; given attackers have the loophole to transfer their loot to other chains.

Portal seeks to use its peer-to-peer atomic swaps to provide true decentralization. The technology provides for secure transactions and does not central servers that open networks up for malicious exploits.

Cross-chain bridges that have been exploited in the past year or so include MultiChain, THORChain, pNetwork, Poly Network and most recently Wormhole.

The post DEX platform Portal outlines multi-chain future without ‘risky’ wrapped tokens appeared first on Coin Journal.

16. Februar 2022

Higher interest rate concerns put a dampener on Bitcoin, says analyst

Market’s speculation of the US Federal Reserve’s interest rate hikes continues to hinder Bitcoin, according to Marcus Sotiriou of GlobalBlock.

Bitcoin continues to hold above $43,000 after a recent uptick in prices. However, the bellwether cryptocurrency “remains hesitant,” to make a major move upwards, suggests an analyst with UK-based digital asset platform GlobalBlock.

And he points to market concerns over higher interest rates as one of the factors to put a dampener on the flagship cryptocurrency’s chances of further gains.

In a note shared with CoinJournal in which he comments on various Bitcoin-related news events this week, Marcus Sotiriou points to data showing Bitcoin’s latest upside to have been fueled by an uptick in the futures market. He notes that the recent rally had its legs propped by the derivatives markets while spot sold-off.

The aggregated Cumulative Volume Data (CVD) for spot and the futures market shows that the latter has posted a significant surge in recent weeks while spot volumes continued to stagnate.

“This suggests that this price rise was driven by speculation or hedging, rather than genuine demand,” he noted.

As the broader market watches out for the language in the US Federal Reserve’s minutes from the January 25th-26th policy meeting, Sotiriou says the contents could provide an “insight” into the Fed’s thinking on interest rates.

While he thinks the market is unlikely to be “shocked” by today’s FOMC minutes given investors have already priced in the March rate hike, concerns remain around just how aggressive the Fed will be going.

Despite these concerns, Sotiriou says increased investment into the crypto sector by major financial institutions is a positive indicator of a possible rebound.

Such companies include Singapore’s DBS that plans to launch a crypto trading service for retailers by the end of 2022, and Fidelity, which just launched an exchange-traded product (ETP) in Europe.

Bitcoin currently trades around $43,630, nearly 1% lower in the past 24 hours. The cryptocurrency looks to be mirroring the US stock market, which has the S&P 500 and Nasdaq down by 0.76% and 1.31% respectively.

The post Higher interest rate concerns put a dampener on Bitcoin, says analyst appeared first on Coin Journal.

16. Februar 2022

RCMP orders blacklist of 34 crypto wallets: report

The police order, Counter Signal reports, is part of the government’s “emergency” measures and puts over 25 Bitcoin, or roughly $1.4 million at risk of being blocked to the truckers’ access.

Canada’s Royal Canadian Mounted Police (RCMP) has reportedly ordered all FINTRAC regulated companies in the country to cease all business transactions with 34 cryptocurrency wallets, following an order from the government.

According to a report covered by the media platform The Counter Signal, the blacklisted crypto wallets are allegedly linked to the Freedom Convoy in Ottawa.

“The Ontario Provincial Police and Royal Canadian Mounted Police are currently investigating cryptocurrency donations being collected in relation to illegal acts falling under the scope of the Emergency Measures Act,” Counter Signal quotes the RCMP order.

The order then mentions the Emergency Economic Measures Order and states that 29 Bitcoin addresses, 2 Ethereum addresses and one each involving Cardano, Monero, and Litecoin should cease all transactions as stipulated Emergency Act, subsection 19(1).

“Any information about a transaction or proposed transaction in respect of these address (es), is to be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police, at CryptocurrencyNHQ-CryptomonnaieDG@rcmp-grc.gc.ca,” the RCMP order continued.

As noted by Counter Signal, the listed wallets have accounted for transactions ranging from $0 to $1.1 million. Around 25 bitcoins worth $1.4 million are likely to be affected if the order is effective, said the report.

The Freedom Convoy’s protests have stretched the past 18 days, with truckers blocking highways in Ottawa amid a tough stance from Canada’s Prime Minister Justin Trudeau.

According to local news, the Ottawa Police Service has spent more than $14.1 million on efforts to bring the protests to an end.

The post RCMP orders blacklist of 34 crypto wallets: report appeared first on Coin Journal.

16. Februar 2022

Bybit signs record-breaking $150M deal with Redbull’s F1 team

Red Bull’s Max Verstappen won the F1 title in 2021
The record-breaking deal will also see Bybit work with Red Bull Racing on fan tokens and blockchain education programs.

Bybit has announced a multi-year sponsorship deal with Oracle Red Bull Racing, becoming the Formula One team’s first-ever ‘Principal Team Partner’.

ByBit also becomes the F1 team’s official ‘Cryptocurrency Exchange Partner’ and will help further several collaborations that promote fan engagement and crypto adoption.

The deal will see Bybit pour $50 million per year for three years into the sponsorship with Red Bull Racing, bringing the multi-year layout to $150 million. According to a statement from the partners, the record-breaking deal will be paid in both cash crypto (BitDAO’s governance token BIT).

Bybit’s deal with Redbull comes hot on the heels of a most dramatic title-deciding race for the racing team’s Max Verstappen. The 2021 F1 champion won the Abu Dhabi Grand Prix on the last lap of the last race of the season, capping Redbull’s 11 wins and 10 pole positions season in style.

Ben Zhou, co-founder and CEO of Bybit said:

“Oracle Red Bull Racing’s unique energy and creativity inspires us. The team has changed the game in the same way that digital assets have changed the global financial system.”

The partnership will include collaborations of projects that involve NFT activations, issuance of social tokens, and the promotion of blockchain technology education and adoption for positive change and financial inclusion.

The two partners will also work to promote and support women in blockchain, according to a press release published on 16 February.

Biggest sports crypto-related deal?

The three-year deal is currently the largest per annum of all the sports deals sealed by crypto companies date.

For comparison, Crypto.com’s mega $700 million naming rights deal for the Staples Center (now Crypto.com Arena) involves $35 million per annum over 20 years.

Algorand’s $100 million deal with Drone Racing League will see $25 million invested per year over 5 years.

The post Bybit signs record-breaking $150M deal with Redbull’s F1 team appeared first on Coin Journal.

16. Februar 2022

Exclusible’s 25 Private Islands on The Sandbox sold for $2.9M

eToro and a Paris Saint-Germain star Marco Verratti among its buyers
The exclusive islands sold for 910 ETH, worth about $2.9 million at the time of sale, the platform said in a press release.

Exclusible, a leading metaverse and NFT marketplace dedicated to luxury brands, has announced that all of its 25 Private Islands on The Sandbox have been sold.

According to Exclusible, its sale was limited to 25 private islands, with the last among the purchases reserved for personalities whose social media following was 1 million or more.

Among the standout buyers was eToro, the world’s leading social investing network. Others to snap the exclusive islands were Paris Saint-Germain soccer star Marco Verratti, Bayern Munich winger Kingsley Coman and former Victoria’s Secret model Sara Sampaio.

Stanislas Wawrinka, a Swiss tennis star and Ana Ivanovic, a former world No. 1 tennis player were the other public personalities to participate in the sale.

The sale, according to a press release shared with Coinjournal, fetched 910 ETH, or about $2.9 million (as of 9 February 2022).

This is yet another major sale from Exclusible, which recently sold 150 villas in its virtual Luxury District in The Sandbox, bringing in 750 ETH, or roughly $1.6 million at the time.

Commenting on the sale, Exclusible co-founder and CEO Thibault Launay said the platform was working hard to help its partners achieve their metaverse goals.

“Selling out our stock of islands in only two weeks demonstrates the high demand for exclusive metaverse assets and experiences. We strive to continue our mission in bringing unique experiences to the metaverse,” Launay said.

The Private Islands are “strategically” located in The Sandbox lands, and feature four different sizes. Buyers have access to exciting virtual amenities, including helipads, a harbor, and furniture or other assets. Interior or exterior customization is also possible.

The post Exclusible’s 25 Private Islands on The Sandbox sold for $2.9M appeared first on Coin Journal.