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CoinShares' head of research James Butterfill said the outflows come despite "the improved certainty of the Merge." Institutional investors may be wavering ahead of the Ethereum Merge, with Ether-based digital asset investment products seeing an outflow of $61.6 million, signaling concerns about the success of the upgrade.  In its Digital Asset fund flows weekly report, fund manager CoinShares reported that Ether-based investment products made up for the majority of total outflows over the Sept. 5-11 week — leading to the market’s fifth consecutive week of outflows. Report author James Butterfill said the outflows have come “despite the improved certainty of the Merge,” which could highlight a concern amongst investors that the “event might not go as planned,” referring to the upcoming Ethereum Merge set for Sept. 15. This is despite the likelihood of a successful Merge improving over the last week, with the Bellatrix upgrade passing through relatively unscathed on Sept....

Although in the green, DOGE price needs to tap fresh liquidity to take on resistance levels at $0.075, $0.085, and $0.1. advertisement Elon Musk’s X Plans Payments In The US, Possibly Crypto Elon Musk’s microblogging company X, formerly Twitter, has according to reports, been granted the greenlight to support money or currency transmission in seven states in the US like Maryland, Michigan, Georgia, Arizona, Missouri, and Rhode. The licenses although not specific to crypto, will allow the company and the firm to offer broader payments, thus expanding X from being solely a social media platform to an “everything app.” According to CoinDesk, “Rhode Island license, while essential for permitting payments, is also a requirement for offering crypto services.” Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated Li...

2022 is probably one of the worst years for the crypto industry. The market crash over the summer was one of the worst, with many firms going underwater. Bitcoin (BTC) had its worst quarter ever in Q2 2022, and Ethereum (ETH) has not managed to keep investors excited even with its transition to a PoS (Proof-of-Stake) model. In the newest edition of CoinShares’ weekly fund flows report, the asset management firm noted a “continued investor hesitancy.” As per the report, crypto investment products saw inflows of $10.3 million in the last week. Bitcoin (BTC) had inflows of only $7.7 million, with short Bitcoin inflows of $2.1 million. Nonetheless, BTC did see flows increase by $271.6 million YTD (year-to-date). Ethereum (ETH) on the other hand witnessed inflows of $5.6 million over the previous week, with short Ethereum inflows of $0.9 million. However, ETH had the worst performing outflow year-to-date with $361. 3 million moving out. The report noted that a rising d...

The crypto analyst who correctly predicted Bitcoin’s crash this year predicts BTC and Ethereum rises (ETH) . Capo, a crypto analyst, tells his 559,600 Twitter followers that “it’s time” for Bitcoin to move because crypto bearish are fueling a surge. “Price action looking bullish. Heatmaps looking bullish… All I see is a lot of shorts that should be squeezed. Shorting support is not a good idea. Send it to $21,000.” $BTC pic.twitter.com/jJTULq2OLD — il Capo Of Crypto (@CryptoCapo_) October 22, 2022 Short squeezes occur when traders who borrow assets at a given price in hopes of selling them at a lesser price to pocket the difference are compelled to purchase them back when the transaction swings against their bias. According to Coinglass, traders have built $3.63 billion in short positions in the previous 24 hours. Bitcoin costs $19,453, up 1.70% today. The crypto expert expects Ethereum to climb beyond $1,400, which he calls ...

The Euler Finance exploit was the largest of Q1 2023, and the risk of a similar attack on other protocols remains. The March 13 flash loan attack against Euler Finance resulted in over $195 million in losses. It caused a contagion to spread through multiple decentralized finance (DeFi) protocols, and at least 11 protocols other than Euler suffered losses due to the attack. Over the next 23 days, and to the great relief of many Euler users, the attacker returned all of the exploited funds. But while the crypto community can celebrate the return of the funds, the question remains whether similar attacks may cause massive losses in the future. An analysis of how the attack happened and whether developers and users can do anything to help prevent these kinds of attacks in the future may be helpful. Luckily, Euler’s developer docs clearly explain how the protocol works, and the blockchain itself has preserved a complete record of the attack.  How Euler Finance works According to the protoc...

Vinay Gupta is returning to Ethereum's original mission with his ambitious tokenization startup, Mattereum, to become the backend powerhouse for blockchain infrastructure. "I'm pretty disappointed with the way Ethereum has gone since its launch," said Vinay Gupta, founder of Mattereum and former coordinator of Ethereum's initial release, during Cointelegraph's AMA session. "The idea was that we could use blockchain to govern infrastructure in the real world. There was this idea that we could tokenize real-world assets and get these new efficient economies, just better use of capital globally to provide people with bare goods, bare services with less waste and inefficiency. But that didn't happen." With Mattereum which focuses on asset tokenization Gupta wants to go back to Ethereum's roots and address the original problem. “We’re not inventing fractional ownership from scratch. Big publicly traded companies like IBM, Google or Meta offer...

Circle launched EUROC last year as a regulated stablecoin, which means that each token is fully backed by euro reserves held at United States-regulated financial institutions. Stablecoin issuer Circle has launched Euro Coin (EUROC) on Avalanche, a move that aims to deliver faster and more efficient payments and financial services for developers and users.  In an announcement sent to Cointelegraph, the Circle team said that the launch is part of their multi-chain strategy for EUROC. The team said that the availability of EUROC on Avalanche increases its liquidity and gives users the option to transact in euros along with its USD-backed stablecoin, USD Coin (USDC). The stablecoin issuer launched EUROC last year as a regulated stablecoin that’s fully backed with euro reserves. This means that each EUROC token will have an equivalent euro held in custody at United States-regulated financial institutions. There’s a new stablecoin in town. USDC issuer Circle Internet Financial is launching ...

Following the demise of the world’s second-largest cryptocurrency exchange, centralised crypto exchanges have been thrust into the limelight. Binance, a market leader, has disclosed its rules for avoiding a similar situation in the future. Changpeng ‘CZ’ Zhao, CEO of Binance, tweeted on November 15 the most crucial prerequisites that his and any other centralised exchange should embrace to maintain consumer confidence. He also said that he is collaborating with industry partners to establish a comprehensive recovery fund. This would benefit firms who have been “unfairly affected by FTX’s suspected wrongdoing,” he said. Last week’s collapse of Sam Bankman-cryptocurrency Fried’s enterprise was entangled with Binance. The corporation began selling FTX exchange tokens (FTT) before withdrawing an offer to assist FTX with its liquidity problems. In light of what happened last week, I felt compelled to define the six...

Despite its efforts, Ethereum [ ETH ] has encountered difficulty surpassing the $2000 mark. In the midst of this, the cumulative daily fees paid by users for processing transactions on the Ethereum network dropped to 1,719 ETH during the weekend. Source Time and again, there have been several complaints about the Ethereum network and its expensive transactions. However, the latest drop in fees challenged this narrative. This marked the lowest daily total since Dec. 26. The figure has plummeted by 89% from its year-to-date peak of 16,720 ETH recorded on May 5. Nevertheless, this decline doesn’t carry an entirely optimistic outlook. The recent drop in aggregate fees paid highlighted a decrease in network activity. Layer-2 protocols outshine Ethereum The occurrence of fees reaching their lowest point in eight months is probably linked to the growing adoption of Ethereum’s layer-2 scaling solutions. As commonly understood, the development of scaling solutions emerged as...

Paul Grewal, Coinbase’s Chief Legal Officer, highlighted on Twitter that these deadlines are critical in determining the direction and eventual outcome of the lawsuit.  advertisement Crucial Deadlines Coinbase is required to submit its legal briefs outlining its arguments, evidence, and supporting documents on August 4, 2023. These filings will reveal the substance of its case and provide vital insights into the evidence and arguments it wants to present in court. Following the submission of the legal briefs, interested parties who support the exchange’s motion for judgment on the pleadings have the opportunity to submit Amicus curiae briefs on or before August 11, 2023, and must not exceed 20 pages.   On the other hand, the SEC , as the plaintiff in the lawsuit, will present its own legal brief outlining its arguments and evidence on or before October 3rd. In a parallel process to that of Coinbase , interested parties supporting the ...

Last year, crypto exchange Binance claimed that it no longer allowed customers to pay each other through sanctioned Russian banks. In reality, that wasn’t the case. The company’s crypto exchange’s peer-to-peer (P2P) service no longer recommends five blacklisted Russian financial institutions as a way to send and receive rubles. But the decision only came after the Wall Street Journal reported this week that Binance was helping Russians shift money out of the country. Binance has stopped offering clients the option to pay one another through sanctioned Russian banks , days after a Wall Street Journal article detailed how the crypto giant was helping Russians move money abroad https://t.co/uE1jRdGwO3 — The Wall Street Journal (@WSJ) August 25, 2023 Up until this week, cardholders with accounts at several sanctioned banks, including Sber, Rosbank, and Tinkoff Bank, could still buy crypto, courtesy of Binance. The use of color coding for the banks rather than thei...

Tourism Lures: A Tactic to Boost Sales According to the  Securities and Exchange Commission  (SEC), 3 M’s Chinese arm had a peculiar method to bolster sales. The subsidiary provided overseas travel opportunities to Chinese government officials.  advertisement Significantly, these weren’t just any trips but also encompassed guided tours, leisurely shopping visits, and sightseeing at local attractions. Moreover, these luxury trips were often veiled under the guise of attending international conferences or educational events. Today we announced that 3M Company agreed to pay more than $6.5 million to resolve charges that it violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA). — U.S. Securities and Exchange Commission (@SECGov) August 25, 2023 Recommended Articles Crypto Presale Proj...