Crypto News Updates

Tim Draper, a venture capitalist and bitcoin millionaire, has included bitcoin as part of a series of cash management recommendations offered to startup founders. Draper recommended having at least two payrolls worth of cash in bitcoin or other cryptocurrencies to avoid being affected by bank failures like the collapse of Silicon Valley Bank (SVB). Tim Draper Touts Bitcoin as Hedge Against Bank Failures Tim Draper, a well-known venture capitalist and crypto enthusiast, has recommended bitcoin as part of his cash diversification advice for business founders. Draper, known for winning an auction of 30,000 bitcoins from the U.S. Marshals back in 2014, and for his bitcoin price predictions , posted a document on Twitter that comments on several considerations businesses should make in the face of bank failures. The document , which presents seven different ways to avoid a cash crunch, states: Since boards and management are responsible for making payroll, even in times of crisis, it...

After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99 million were withdrawn over the past day, according to Coinglass metrics. 3,655 Bitcoin Withdrawn From Binance in 24 Hours On Monday, March 27, 2023, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance and CEO Changpeng Zhao (CZ), alleging the exchange had violated specific trading and derivatives rules. The CFTC is seeking disgorgement and monetary penalties, as well as a ban on future registrations. Following the news, Binance experienced a large number of withdrawals, and some observers noted “large onchain movements prior” to the exchange’s troubles with the CFTC. “A few hours before the Binance CFTC Indictment, there were large...

PRESS RELEASE. Every year, natural disasters like earthquakes, hurricanes, and floods hit countries around the world, severely damaging local infrastructure and homes and causing casualties. Individuals and communities in the catastrophe-hit areas suffer a heavy loss and need help from the outside badly. For years, numerous public welfare organizations and charitable groups have been actively providing relief and assistance to those affected by disasters worldwide, and among such contributors is CoinEx Charity. Having been committed to disaster relief programs for over a year, CoinEx Charity has joined the global efforts to combat natural disasters by providing food, shelter, and medical assistance for hundreds of affected individuals, with its footprint across the globe. Since its inception, CoinEx Charity has dedicated itself to supporting disaster-stricken areas around the world by providing free medical, material, and financial assistance for those affected by natural disasters. ...

Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained. Ethereum’s Co-Founder on Crypto Ecosystem, Regulation Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether ( ETH ) is a security in an interview with CNBC last Wednesday. “The strength of our ecosystem has never been better or stronger,” he began. While noting that “There are certainly headwinds — some microeconomic, financial headwinds — out in the world,” as well as “banking issues for a small number of companies” in the crypto space, he emphasized: “The sizes of the conferences that are going on in Paris and Denver and Los Angeles have never been bigger.” The Ethereum co-founder a...

Market strategist Jeremy Grantham, co-founder of asset management firm GMO, has warned of “super bubbles” bursting. He explained that the Federal Reserve has “created an environment conducive to a chain-linked series of super bubbles that break with outrageously consequential, painful effects.” Jeremy Grantham’s Warnings Investment strategist Jeremy Grantham shared his U.S. economic outlook with economist David Rosenberg during a Rosenberg Research webcast, published on March 16. Grantham is a co-founder and chief investment strategist of asset management firm GMO. He has been an investment strategist for over 40 years and has served on the investment boards of several non-profit organizations. Grantham criticized the Federal Reserve for repeatedly causing asset bubbles. He noted that he was not surprised by the recent collapses of major banks. He compared the present economic situation to that of 2000, emphasizing that back then, “the economy had a gentle recession” without any re...

The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of their tightening.” Bull Cycle for Gold and Bitcoin Jan van Eck, CEO of investment management firm Vaneck, shared his prediction regarding gold and bitcoin in an interview with CNBC last week. His firm has $69 billion in assets under management. When asked whether gold, at its present levels, should be viewed as an investment or a temporary trade that may yield additional profits, he replied: We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well. “Finally, as a gold investor, you’ve been rewarded over the last couple of weeks. Weakness in the banking system and gold rallied. That’s why you own gold,” the executive co...

Despite being touted as the possible panacea, decentralized finance (defi) still faces obstacles which greatly diminish the prospects of mainstream adoption, asserts serial entrepreneur and CEO of Radix DLT, Piers Ridyard. Ridyard added that while defi is seen as “a fantastic proof of concept,” widespread adoption of this alternative to traditional finance is only possible when the developer and user experience is improved. Developer Incentives and Mass Adoption of Defi Besides improving developer and user experience, the Radix CEO told Bitcoin.com News that the provision of ongoing and sustainable support to developers ensures “you [don’t] end up with a ghost chain.” Ridyard, a YC Alumni, also shared thoughts on how defi and Web3’s scaling woes can be overcome. Ridyard further discussed Coinbase’s attempt to bolster developers with its recently launched layer 2 (L2) blockchain and why this is unlikely to result in the envisaged mass adoption of defi. Below are the CEO’s answers ...