BitShares(BTS)

These influences include rising geopolitical tensions, higher interest rates for longer, reflation and ballooning national debts, the report said.

The escalating risks to the security of web3 have become significant concerns for the future of this decentralized internet paradigm. Beyond the financial implications, the losses incurred from hacking attempts on web3 and smart contracts have cast doubts on the dependability of this emerging technology.  Globally, the perception of web3 […]

BTS, PERL, TORN, and WTC will no longer be supporter by Binance.

A study found that privacy increases participants’ willingness to use a CBDC by up to 60% when purchasing privacy-sensitive products.

Bloomberg ETF analyst Eric Balchunas doubts the SEC will deny ETFs after XRP’s price spiked on a faked BlackRock XRP trust filing, but it is a “bad look.”

A former OpenSea employee has been accused of assisting the infamous AnubisDAO rug pull in 2021; however, some commentators have raised doubts.

Tether pioneer William Quigley, who was also an early investor in PayPal, said he doubts the payments giant will bring much innovation to the stablecoin space.

Cryptocurrency mining firm Argo Blockchain has reduced its debts to $75 million through the first half of 2023.

Despite much fear and doubt invading the minds of crypto investors, bitcoin is in phase 1 of the bull market and is continuing to build price structure. Zoom out Fear is coursing through the veins of cryptocurrency investors. This fear may lead to irrational trades that many will regret later. The price of bitcoin has been falling steadily for the past two months and there appears to be no end in sight. However, when there is doubt - zoom out. Too many investors new to bitcoin and crypto get paralysed with uncertainty by looking at the shorter time frames. It’s easy to get riddled with doubt if you are watching the 1-hour or the 4-hour time frames. Zooming out to the 2-week time frame, things look so much clearer, and it’s easy to see exactly where bitcoin is in relation to past price action. It’s only when one does this that it becomes apparent that bitcoin is actually holding nicely above the price structure that it has been building since mid-2022. Bitcoin is following the same pattern In fact this same process has been followed ever since the first phase of the bitcoin bull market in 2012, and the succeeding ones in 2016, 2019, and now 2023. The same bottom is made, which in the last two bear markets was a double bottom, and which so far has also been the case for this bear market that bitcoin is currently emerging from. All bitcoin has done in the current phase 1 of its bull market is confirm the support on top of the structure it has built at around $23,000 to $25,000. The current drop in price looks as though it might reconfirm this support. Worst case scenario Of course, looking at the worst case scenario bitcoin could even drop through this support. It could wick down, or it could even go down to revisit the low. However, even this would not negate this phase 1 of the bull market, and would be an amazing opportunity to buy. New investors are full of the stories of how bitcoin did crazy percentage gains to the upside in previous bull markets, but this time it looks to be different. The gains are definitely declining for each successive bitcoin bull market, but even so, a rise to $100,000 is not out of the question, and a 4x in the present financial environment would be an amazing return. Bitcoin is freedom Bitcoin is much more though than a 4x gain in wealth. It is monetary freedom. It is a haven from the madness and catastrophic future that fiat currencies will wreak upon the world. There are all sorts of doubts in finance. Nothing is ever 100% certain, except one thing - fiat currencies will continue to debase and they will all eventually go to zero. If you are able to think back to when you were younger and how prices were so much cheaper, then you are witnessing the debasement of your currency. This is impossible for governments to turn around and prices will only keep rising as more currency is printed into existence. Governments and central banks are enslaving their populations, and should central bank digital currencies (CBDCs) be implemented, their control over the citizenry will be total. Bitcoin is the way out. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

Despite much fear and doubt invading the minds of crypto investors, bitcoin is in phase 1 of the bull market and is continuing to build price structure. Zoom out Fear is coursing through the veins of cryptocurrency investors. This fear may lead to irrational trades that many will regret later. The price of bitcoin has been falling steadily for the past two months and there appears to be no end in sight. However, when there is doubt - zoom out. Too many investors new to bitcoin and crypto get paralysed with uncertainty by looking at the shorter time frames. It’s easy to get riddled with doubt if you are watching the 1-hour or the 4-hour time frames. Zooming out to the 2-week time frame, things look so much clearer, and it’s easy to see exactly where bitcoin is in relation to past price action. It’s only when one does this that it becomes apparent that bitcoin is actually holding nicely above the price structure that it has been building since mid-2022. Bitcoin is following the same pattern In fact this same process has been followed ever since the first phase of the bitcoin bull market in 2012, and the succeeding ones in 2016, 2019, and now 2023. The same bottom is made, which in the last two bear markets was a double bottom, and which so far has also been the case for this bear market that bitcoin is currently emerging from. All bitcoin has done in the current phase 1 of its bull market is confirm the support on top of the structure it has built at around $23,000 to $25,000. The current drop in price looks as though it might reconfirm this support. Worst case scenario Of course, looking at the worst case scenario bitcoin could even drop through this support. It could wick down, or it could even go down to revisit the low. However, even this would not negate this phase 1 of the bull market, and would be an amazing opportunity to buy. New investors are full of the stories of how bitcoin did crazy percentage gains to the upside in previous bull markets, but this time it looks to be different. The gains are definitely declining for each successive bitcoin bull market, but even so, a rise to $100,000 is not out of the question, and a 4x in the present financial environment would be an amazing return. Bitcoin is freedom Bitcoin is much more though than a 4x gain in wealth. It is monetary freedom. It is a haven from the madness and catastrophic future that fiat currencies will wreak upon the world. There are all sorts of doubts in finance. Nothing is ever 100% certain, except one thing - fiat currencies will continue to debase and they will all eventually go to zero. If you are able to think back to when you were younger and how prices were so much cheaper, then you are witnessing the debasement of your currency. This is impossible for governments to turn around and prices will only keep rising as more currency is printed into existence. Governments and central banks are enslaving their populations, and should central bank digital currencies (CBDCs) be implemented, their control over the citizenry will be total. Bitcoin is the way out. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

Ratings agency Moody’s downgraded 10 US banks on Monday, with negative ratings actions on many more. Bitcoin has broken higher. 27 Banks suffer negative ratings actions Following on from the Fitch ratings agency downgrade of the US from triple A to double A+, the Moody’s rating agency has followed up with downgrades of 10 small and midsize US banks, and put such august banking giants as New York Mellon and US Bancorp under review for possible downgrades. In all, 27 banks received negative ratings actions from Moody’s which is likely to put them under further pressure and scrutiny at a time when the whole banking sector is struggling to keep itself above water after the Federal Reserve felt it had to buy all the bad bond debts, and as the commercial real estate time bomb gets ever closer to exploding. Moody’s included the following in its report on Monday: "To date, stress on US banks has been reflected almost exclusively in funding and interest rate risk related to monetary policy tightening, but a worsening in asset quality will likely come," The report added: "We continue to expect a mild recession in early 2024, and given the funding strains on the US banking sector, there will likely be a tightening of credit conditions and rising loan losses for US banks." Bitcoin impervious to banking woes As the noose around the US banking sector continues tightening, an asset class completely outside of the entire traditional financial system has just broken higher. Bitcoin and cryptocurrencies are perhaps being seen as a tech asset class that has already seen its bear market bottom, and is now ripe for investment. Bitcoin ripped higher on Monday and into Tuesday, climbing from a $28,700 low to as high as $30,200. The price has since returned to confirm the top of a bull flag, and should it hold above, higher prices can certainly follow. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin has remained trapped in a downward channel since the latter part of June. With the last couple of days of positive price action, is bitcoin now ready to go higher? A bull flag breakout? Bitcoin has been in an accumulation phase for the past seven weeks. Following a spike higher from a mid-June low of $24,800, the price almost reached $32,000 before rolling over and following the downwards channel it is currently trying to free itself from. Positive price action since Monday saw bitcoin emerge from its bull flag. However, Wednesday sees price trying to hold the top of the flag. Whether it is successful or not will signal the next phase of price action. If the breakout of the bull flag does get confirmed, bitcoin has the possibility to go much higher, with a measured move out of the flag taking it to $35,000, which would potentially turn $30,000 into new support. However, failure to break out of the flag can bring bitcoin ever closer to its major support of the uptrend which is underpinned by the 200-day moving average. A bounce here would be even more likely. Bears and bulls evenly balanced In fact the chart and fundamentals for bitcoin do look ridiculously bullish. It therefore has to be wondered why there is still so much bearish sentiment around the number one crypto asset? The Fear and Greed Index has been oscillating around the Neutral 50 value since the beginning of the year, signalling that bitcoin is balanced on a 50/50 market sentiment for higher or lower prices. It appears that something is needed to tip bitcoin one way or the other, and despite regulatory overhang of the crypto industry and the extremely negative pursuit of the foremost crypto exchanges of Binance and Coinbase by the SEC, there is still enough positive sentiment to balance things up. Why keep currency in the bank? In bitcoin’s favour, it does have to be wondered why people would choose to keep their fiat currency in banks. On the one hand there is the resulting reduction in purchasing power of fiat currency as central banks print more of it in order to pay debts. On the other hand, there are the banks themselves. Only propped up by the printing out of thin air of their own central banks. As exposure to commercial real estate and other bad debts become due, the central banks are going to have to hammer further on the keyboard digits in order to inflate even further. If one is to add all this negativity to the fact that we are living in an age where banks are becoming obsolescent, then all the currency being poured into propping them up would just appear to lead to much more pain for the average citizen, who must bear this cost through inflation and an accelerating loss in purchasing power. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The US Securities and Exchange Commission (SEC) is nearing a critical crossroads concerning ARK's application for a spot Bitcoin Exchange Traded Fund (ETF). With the August 13 deadline on the horizon, the financial world watches closely for the SEC's decisive verdict. Potential Delay Until 2024 ARK Invest’s official Bitcoin ETF submission on May 15 kicked off the SEC's countdown clock. It was followed by another filing on June 15 which preset the deadline as August 15, by which the SEC must express its approval or disapproval. However, the SEC can prolong the waiting game by 240 days, pushing the final response to January 10, 2024, for ARK Invest’s proposal and March 2024 for other applicants. Speaking on the topic, ARK Invest CEO Cathie Wood noted that there is a high probability of the SEC delaying the matter further. When asked about the August deadline, Wood said, "I think you're probably right that Aug. 13 will come and go. I think the SEC, if it's going to approve a bitcoin ETF, will approve more than one at once." A Crowded Field of Aspirants ARK isn't alone in its quest for a spot Bitcoin ETF. Numerous organizations, including Bitwise, BlackRock, VanEck, WisdomTree, Valkyrie, First Trust Galaxy, and Fidelity Wise Origin, have entered the Bitcoin ETF fray. Grayscale also seeks to convert its Bitcoin Trust into an ETF. If the SEC greenlights any one of these applications, the call for fair and equal approvals among the other applicants will gain extra momentum. This wave of applications stands apart due to a "surveillance sharing" pact with exchanges like Nasdaq and Cboe. The agreement's goal is to exchange market trading data, customer ID info, and clearing activity details. This move aims to curb market manipulation risks and protect investor funds against unauthorized use, addressing previous SEC concerns. SEC's Reserved Move - The Waiting Game Observers speculate that the SEC won't budge unless compelled. The Grayscale Bitcoin Trust's lawsuit serves as inspiration on how to tackle the agency and its unbudging stance on ETFs. The court case has prompted the SEC to clarify its stance, highlighting its approval of Bitcoin futures agreements with similar monitoring provisions. This legal tussle may lead to a more transparent decision-making process. While optimism grows in the crypto community, doubts remain about the SEC's approval of a Spot Bitcoin ETF. Critics recall the SEC's decade-long streak of rejecting such applications. Nevertheless, the approval of a leveraged Bitcoin ETF and a surge in Ethereum futures ETF applications hint at a shifting regulatory environment. Bloomberg Intelligence gives a 65% chance for approval, considering the Grayscale lawsuit and potential political influences. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Cypher Protocol, a decentralized futures exchange operating on the Solana blockchain, disclosed on August 7th that a significant security breach occurred on their platform. The breach led to an estimated unauthorized transfer of assets valued at around $1 million. Swiftly addressing the event, Cypher Protocol informed its community of followers on X (formerly Twitter) and took immediate action by freezing its associated smart contract. A statement from the firm emphasized their responsive action: "Cypher has experienced a security incident. The smart contract has been frozen. Investigations are ongoing. The team is currently working with individuals and investigating. To the hacker: We are writing to see whether you would be open to speaking with us about any potential next steps." Data sourced from the Solana blockchain explorer, Solscan, has been invaluable in providing insights into the breach. It appears that the attacker or attackers absconded with a considerable 38,530 Solana (SOL) tokens in addition to $123,184 USD Coin (USDC). In sum, these unauthorized transactions amounted to roughly $1,035,203. What has raised eyebrows in the aftermath of the breach was the movement of the alleged funds. Within a short span following the exploit, a sum of 30,000 USDC from the contentious wallet was rerouted to Binance’s specific Solana USDC address. The rapidity of these fund movements highlights the speed at which digital assets can change hands, emphasizing the need for robust security measures and real-time monitoring. Community Response and Calls for Accountability The aftermath of the exploit was punctuated by unique, digital-era responses. Members from the cryptocurrency community sent a series of NFTs to the suspected wallet. These weren’t typical assets, but they bore messages – some of which appealed to the hacker's conscience to return the stolen funds. Among the various messages, one read: "Seriously though, you used Binance and KuCoin to fund and to try and get 30k out. People will find you. Please do the right thing and give the rest back." The timing of this security breach was rather inopportune, as it coincided with Cypher Protocol’s collaborative mtnDAO hacker house event, which they co-hosted with another Solana protocol, Marginfi. Ensuring clarity and dispelling doubts about their own security, Marginfi swiftly relayed via their Telegram channel that they remained unaffected by the breach and continue to maintain their operational independence from Cypher. As of the time of reporting, no Solana-based funds have been detected as transferred to the Ethereum network, leaving the next steps of the alleged hacker unpredictable. Incidents like these not only impact the entities directly involved but also reverberate throughout the crypto community. They underscore the persistent challenges in the realm of digital security and emphasize the need for continuous improvements in safeguarding digital assets. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Michael Egorov is attempting to pay off his mountain of DeFi debts by selling CRV at a discount.

Davinci Jeremie believes that while many people missed out on the opportunity to buy Bitcoin 10 years ago, it’s not too late to get into crypto.

According to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.

Unemployment and productivity data arrived stronger than expected but investors seemed focused narrowly on the ongoing negotiations that will determine if the U.S. government has to default on its debts.

Doubts regarding crypto remain among German banks, but there is a growing concern about missing out on a potentially game-changing development.

Some members of the crypto community think FTX 2.0 is a good idea, while others have doubts due to technical deficiencies.

Ledger believes the service will help attract customers turned off by crypto's unforgiving self-custody ethos. But critics wonder whether the concept is compatible with a real hardware wallet.

On a panel discussing how to protect your identity, the consensus was that SBTs were absolutely the wrong path.

The funds will go toward reducing Mawson's debts and fueling growth.

Hong Kong-based Babel Finance will totally have more than a year to repay debts to its creditors after suspending withdrawals last June.