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Crypto World Eager to See New Administration Operations

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Crypto asset traders and analysts are looking for positives for the crypto industry out of the newly elected leaders.

Following a hotly and closely contested US Presidential election, a number of people in the crypto community have questioned the outcome. However, mainstream media outlets and the Associated Press have definitively determined former Vice President Joe Biden as the current President-elect. President-elect Joe Biden reportedly beat the incumbent Donald Trump in the US presidential race by electoral votes.

 Democratic Administration Good for Crypto

Traders and analysts are yet to determine how a Biden administration will impact cryptocurrencies in the midst of this uncertainty. However, they somehow are in agreement that a President who doesn’t talk about crypto is more preferable to a president who continually disapproves of it.

DeFi Alliance’s Lead Qiao Wang celebrated Trump’s loss, saying that the President had in the past often posted negative tweets about Bitcoin and Libra. The decentralized finance accelerator official explained his remarks in the tweet below.

Investor Mike Novogratz also praised the Democratic administration’s ongoing stimulus program stating that it is good for crypto and would bolster Bitcoin’s anti-inflationary narrative. Although the settling uncertainty and high additional stimulus prospects may bolster markets with an incoming Biden administration, a stronger dollar as a result of such efforts have the potential to cripple cryptocurrencies.

President-Elect Nominees Important in Crypto Policies Formulation 

Speculators are eyeing to see crypto inclinations that the key appointees in the forthcoming new administration would take. The people who occupy those important seats will most likely formulate the regulatory roles surrounding the crypto space, determining whether the rules will be stricter or more permissive.

Jake Chervinsky, General Counsel at Compound Finance, stated that the nominees are more important than President-Elect’s personal opinions.

Biden’s transition team will entail Gary Gensler, the former CFTC chairman as well as Obama appointee, according to Politico. In the past, Gensler — best known for his hardline enforcement of Wall Street regulations following the 2008 financial crisis — spoke positively regarding Bitcoin.

The frontrunner for the Treasury secretary post is former Federal Reserve governor Lael Brainard. As per major outlets that reported the news two weeks ago, the economist led an MIT joint effort research about CBDCs.

Uncertainty in Stock Market Lessens

The Democratic nominee is set to assume the office after an election that was hampered by division and the continued COVID-19 pandemic spread. At the time of writing, Trump had not conceded but instead stated that he would challenge the results in court given the closeness of the race in order to get a recount in the battleground states. Although the former vice president failed to touch on crypto issues during the campaign, a couple of Biden’s supporters hope he will pursue tech policy reforms.

US stock market has adequate time to recover since the election result is now certain. Even though some analysts fear that Biden’s tax and environmental policies might make the stock market slump, chances are high that stocks may even rally in the short-term.

Earlier, markets had rattled due to the fear that the election process would drag for long on without a clear winner being known. Now, less uncertainty exists in the markets allowing stocks to recover alongside other risk-on assets following the 2020 race conclusion.

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James Lovett is a talented crypto enthusiast who finds pleasure in sharing more knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. He likes to keep himself furnished and updated with the latest innovation in the crypto industry, blockchain technology, Internet of Things (IoT) and other technologies. As a result, he tries to furnish ardent crypto supporters with the latest news on blockchain and distributed-ledger technologies. Indeed, Blockchain and Cryptocurrency is changing the world as we know “one block at a time”. As a hobby, he also trades in small amounts of cryptos every now and then.
An author with experience writing for tech, digital, and cryptocurrency blogs!





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Tesla’s Elon Musk and Twitter’s Jack Dorsey Engage in Banter on Social Media Regarding The B Word Event

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The humorous banter resulted in Dorsey inviting Musk to an open B word event stating that he can have all his “curiosities” sorted there.

Twitter and Square CEO Jack Dorsey was seen endorsing Bitcoin in a recent tweet that attracted the attention of Tesla‘s Elon Musk which resulted in a humorous Twitter banter about the B Word event to destigmatize bitcoin trading.

Jack Dorsey tweeted in response to an event hosted by B Word Initiative, an organization that works to streamline the importance of cryptocurrency in the domain of digital financing and aims to “destigmatize allegations and doubts against crypto and BTC trade.”

The tweet propagated Dorsey’s inclination towards crypto and stated how many international companies and organizations have been experimenting with crypto transactions. He further invited the audience on Twitter to a B Word event where an open talk regarding crypto was scheduled to take place. The tweet was able to capture the attention of Elon Musk who responded by stating “bicurious” in the comments with a sense of cheekiness. This incited a funny comeback from Dorsey’s side which included an open invitation for Musk to attend the B Word event.

Elon Musk and Jack Dorsey to Have Engaging Conversation on The B Word Event

The humorous banter resulted in Dorsey inviting Musk over an open B word event stating that he can have all his “curiosities” sorted there. Musk further responded to Dorsey with a chuckling response that instigated the witty exchange between the two CEOs.

Previously Elon Musk had announced in May that Tesla will not accept any Bitcoin for car purchases citing the reason for increased carbon emissions occurring due to bitcoin mining. Musk’s announcement in may had resulted in falling of BTC prices however he resumed BTC services shortly after the open declarations and advised miners to use renewable energy sources to mine Bitcoin. The recent exchange between Musk and Dorsey expresses that Bitcoin still is a topic of interest for both of them.

Dorsey’s tweet following Musk’s response went viral in due course where Musk was later seen commenting on “pure gold” on Dorsey’s “Let’s talk” comment which enabled the Twitterati’s to suspect an ambiguous mention of Peter Schiff in the post thread, who actively propagates investment in gold as a profitable alternative to Bitcoin.

Dorsey, being an active proponent of BTC, was recently seen inviting Elon Musk over a “chat” on a B Word Show on Twitter. This B Word initiative is a premium platform that assists in making people realize the growing value of BTC and other crypto variants. The initiative intends to “destigmatize” the doubts surrounding cryptocurrency and make it more mainstream for people to have access to and create more awareness regarding BTC mining and trading activities.

Musk and Dorsey’s impromptu Twitter jest resulted in Dorsey actively approaching Musk, and having an immersive conversation on how institutions and organizations can embrace Crypto trade and adapt the growing BTC mining as a prospective future currency.

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Juhi Mirza is an archaeological major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.



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Priority Queue for CoinList Token Sales Revealed

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According to CoinList, the Priority Queue is a scheme that seeks to reward validators, stakers, miners and other registrants, and other people who could have helped with the growth and success of the token.

The Priority Queue for CoinList imminent token sales has been revealed by the company. The Priority Queue is an invite-only queue that consists of invitees with a higher chance of securing an allocation over the normal or regular invitees, even though allocation is not automatically guaranteed. The Priority Queue will also be significantly shorter than that of the main token sale queue (which reportedly will be hundreds of thousands) and will run in parallel to the main queue

According to CoinList, the Priority Queue is a scheme that seeks to reward validators, stakers, miners and other registrants, and other people who could have helped with the growth and success of the token. Most of these people are normally turned away in a token sale by missing out on an allocation. “This is a lost opportunity for token networks seeking to grow strong communities,” CoinList stated in an official statement on their website.

“To address this, we’re rolling out a Priority Queue feature that allows token networks to give priority to their core group of contributors as well as to CoinList community members, who have demonstrated a long-term commitment to token networks,” the statement reads.

According to CoinList, the Priority Queue invites for CoinList community members are based on a points system that recognizes value-add activities. The greater your contributions are to token networks on CoinList, the more points you earn. However, not all users will receive an invite to the Queue. “At this time, we’re limiting invites to those with the most points so that the Priority Queue is less than 1% of the total number of sale registrations,” the statement said.

According to CoinList, their Value-add activities fall into three categories or tiers, with Tier 1 weighing the most points, while tier 3 yields the least. To be in the Tier 1 class, an invitee would have to have participated in a validator/miner/grant program or a hackathon on CoinList.

Tier 2 users would have to have participated in early CoinList token sales (before 2021), worklocks, lending programs, and staking whiles Tier 3 consists of users that have traded on CoinList through CoinList.co, CoinList Pro, CoinList Mobile app, OTC, and WBTC conversion.

CoinList added that they will continue to improve on the Priority Queue and plans to add more features to the points system as time goes on as the firm will get to learn about what works best for the token network teams and their sale participants.

Read more news from the crypto industry here.

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Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.



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Chainalysis Raises $100 Million at $4.2 Billion Valuation

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As outlined by Chainalysis, the latest cash injection will be used to deepen its data advantage by covering more cryptocurrencies, and focusing on emerging niches including decentralized finance (DeFi). 

Blockchain analysis company Chainalysis has announced the completion of its Series E funding round in which it secured an additional $100 million from investors. According to the official announcement Chainalysis, the Series E funding round was led by Coatue and brings the company’s total valuation to $4.2 billion.

As revealed, previous backers including Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital added to their stake in the company. Accordingly, the funding round also saw participation from other investors including Altimeter, Blackstone Group Inc (NYSE: BX), GIC, Pictet, Sequoia Heritage, and SVB Capital.

The use of blockchain technology and its attendant innovations particularly cryptocurrencies is growing. While there has always been a sustained retail adoption of the emerging monetary innovation, institutions are beginning to show interest in the growing asset class. However, the rate of adoption is marred by the lack of transparency in using Bitcoin (BTC), and other altcoins, as well as the potential risks of being used for illicit transactions. These fears are compounded by regulators, who often warn against the integration of this tech.

Chainalysis is building the technology to allay the fears of usage of crypto on the part of investors, and to aid regulators to track illicit transactions accordingly. The company is building compliance software that enable government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering. The invaluable nature of Chainalysis’s product has drawn in over 300 clients, spanning both government, businesses, and general crypto users.

“Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market,” said Kris Fredrickson, Managing Partner at Coatue. “As cryptocurrency adoption grows, we believe that financial institutions, government agencies, and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions – from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand.”

Chainalysis to Build Out and Focus on Its Expansion Following the Funding Round

As outlined by the company, the latest cash injection will be used to deepen its data advantage by covering more cryptocurrencies, and focusing on emerging niches including decentralized finance (DeFi).

Additionally, it noted the readiness to develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent, shared understanding. The firm is also seeking to provide direct access to Chainalysis data through APIs so that government agencies, financial institutions, and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions.

Beyond the product development, the company says it will hire hundreds of positions to promote its global expansionary drive. In all, Chainalysis is set to foster the speedy embrace of crypto and blockchain through the provision of data that can help eliminate threats in all forms.

“The future of finance and national security will be based on blockchain data-driven decisions,” said Michael Gronager, Co-founder and CEO, Chainalysis. “We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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