Author: Crypto Global News

First Mover Asia: What Analysts Are Saying After Crypto Lender Celsius Paused Withdrawals; BTC Drops Below $23K By Shaurya Malwa, James Rubin Some observers of digital asset markets criticized the move but others said that Celsius could be protecting user funds; ether plummets 17%. Prices: Bitcoin and other cryptos have a dark day. Insights: Observers of digital assets react differently to Celsius’s announcement to pause withdrawals. Technician’s take: (In place of Technician’s Take, First Mover Asia is re-publishing a recent Consensus 2022-related column by CoinDesk columnist Daniel Kuhn. Prices Bitcoin (BTC): $22,209 -16.6% Ether (ETH): $1,193 -17% Biggest Gainers There are no gainers in CoinDesk…

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First Mover Asia: Bitcoin Tumbles Below $27K Amid Heightening Inflation Concerns By James Rubin Ether and other major altcoins underperformed BTC over the weekend as investors continued to steer away from riskier assets; Is there a case for inflation? Prices: Bitcoin and other cryptos have a lost weekend. Insights: Is there a case for inflation? Technician’s take (Editor’s Note): In place of the usual technical analysis, First Mover Asia is republishing an essay by CoinDesk columnist David Z. Morris on this weekend’s Consensus 2022 event. Prices Bitcoin (BTC): $26,759 -5.9% Ether (ETH): $1,447 -5.4% Biggest Gainers There are no gainers in CoinDesk 20 today. Biggest…

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JPMorgan Wants To Bring Trillions of Dollars of Tokenized Assets to DeFi By Ian Allison The bank’s recent tokenization of money market funds with BlackRock dovetails with an institutional DeFi project led by the Monetary Authority of Singapore. AUSTIN, Texas — JPMorgan (JPM) hopes it has found a way for decentralized finance (DeFi) developers to leverage the yield-generating potential of non-crypto assets. Speaking to CoinDesk at Consensus 2022 in Austin, Texas, Tyrone Lobban, head of Onyx Digital Assets at JPMorgan, described in detail the bank’s institutional-grade DeFi plans and highlighted how much value in tokenized assets is waiting in the wings. “Over time, we…

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Mike Novogratz Predicts Next Crypto Cycle Begins in October By Sam Reynolds The outspoken CEO of Galaxy Digital and former “Lunatic” predicts that the Fed needs to flinch before crypto can recover. AUSTIN, Texas – Mike Novogratz is going to wear his Luna (LUNA) tattoo into the next crypto super-cycle as a mark of humility, and he expects that upturn to take place in Q4. Speaking at CoinDesk’s Consensus 2022 conference, Novogratz said Bitcoin (BTC) isn’t going to “trade well before the Fed flinches and takes its foot off the break,” though he does expect the world’s most popular digital…

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Where the Coins Go: Inside Ukraine’s $125M Wartime Fundraise By Anna Baydakova In Ukraine, crypto from around the world turns into bulletproof vests, drones and first aid kits. The country’s fundraisers explain how it works. Cryptocurrencies’ prices might rise or fall, but their capacity to break through borders remains invaluable – especially in wartime. Since Russia invaded Ukraine Feb. 24 in a countrywide military assault, governments and individuals worldwide have been helping Ukraine survive, sending weapons and money. A notable part of those funds has been in crypto, making a difference on the ground, fundraisers told CoinDesk. Help is coming…

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Fidelity’s Abigail Johnson Reaffirms Crypto Commitment in Bear Market By Ian Allison “This is my third crypto winter,” the U.S. brokerage CEO said at Consensus 2022, looking back on the firm’s trailblazing journey into digital assets. Offering battle-tested advice to the crowd at Consensus 2022 in Austin, Texas, Fidelity Investments chairman and CEO Abigail Johnson said her belief in the long-term fundamentals of cryptocurrency remains strong. “I figure this is my third crypto winter. There’s been plenty of ups and downs but I see that as an opportunity,” Johnson said of the bear market. “I was raised to be a…

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First Mover Asia: For the Metaverse To Be a $13T Opportunity, Much Has To Change; Bitcoin Rises Late Past $31K By Sam Reynolds, Damanick Dantes, James Rubin A Citi report makes a bold prediction, but major metaverse platforms are struggling to attract committed users; altcoins are mixed. Prices: A late surge carried bitcoin past $31,000, where it started the week. Insights: A Citi report calculates the potential value of the metaverse at $13 trillion, but platforms are struggling to attract committed users. Technician’s take: Price bounces have been short-lived, indicating a loss of buying strength. Prices Bitcoin (BTC): $31,285 -0.07% Ether (ETH): $1,828 -1.5% Biggest…

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Hive To Buy Intel Mining Chip That Can Raise Hashrate by 95% By Aoyon Ashraf The crypto miner also signed a new 100MW power deal with Compute North in Texas. Hive Blockchain (HIVE) agreed to buy Intel’s new mining chips in a deal the crypto miner said could increase its aggregate bitcoin mining hashrate by as much as 95% from 1.9 exahash per second (EH/s). Hive said an original design manufacturer (ODM) will incorporate the Intel (INTC) chips into an air-cooled bitcoin mining system. The system is expected to be delivered over a period of 12 months starting in the second half of 2022.…

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New Research Unearths Insights Into Satoshi and Bitcoin’s Early Days By Marc Hochstein The paper makes no claims about the Bitcoin network today, more than a decade after the end of the period analyzed. But it underscores well-known and longstanding privacy challenges. A new academic paper claims that Bitcoin (BTC) in its first two years was more centralized and fragile than has been widely recognized. The cryptocurrency survived and thrived thanks to a small group of pioneers who chose not to attack the network when they easily could have, says the study, which was co-authored by nine researchers from six universities around…

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Bitcoin Might, in Fact, Be the Great ‘Equalizer’ By George Kaloudis A new global survey drills in on the perception of Bitcoin around the world, and the findings appear to be generally optimistic for global equity. A few months back, some of my work proximity associates thought it would be interesting to run a wide-reaching, sweeping Bitcoin survey to learn more about the demographics, user behaviors and general perceptions of this hotly debated digital thingamabob. Of course, we had other things to do, and so it got away from us. Like all good ideas, we weren’t the only ones who had it.…

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