An Island for Cryptocurrency and DeFi Talent is Set to Open in the Central African Republic 

The CV-19 lockdown situation has brought about a global shift in how work is completed. With countries forced to go on lockdown for months, there was, unfortunately, a need to lay off workers in key industries. However, many tech companies decided to introduce the concept of a WFH (Work from Home) policy to retain talent. Some sectors suffered economically during the pandemic. For certain sectors, like the cryptocurrency industry, the global cryptocurrency market size was USD 826.6 million in 2020 and fluctuated greatly.  One of the key effects of CV-19,…

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‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal

The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index seeing its longest run of extreme fear since the market crash in Mach 2020. Crypto Fear & Greed Index. Source: Alternative Data from Cointelegraph Markets Pro and TradingView shows that the price action for…

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Bankman-Fried faces down roomful of futures industry insiders at CFTC roundtable

FTX CEO Sam Bankman-Fried did a lot of talking at the United States Commodity Futures Trading Commission (CFTC) staff roundtable on non-intermediation Wednesday. He fielded questions and issues from 31 industry professionals about the FTX.US application to offer clearing of margined products, including crypto-based products, without a futures commission merchant (FCM) intermediary.  Many participants felt the need to mention their devotion to innovation and declared that they do not see the proposed new technology as an “us versus them” situation. Joe Cisewski of Pantera Capital said that just six or…

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Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund

Crypto prices have been exploring new lows for weeks and currently it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot ecosystem began to rally on May 24 and have managed to maintain gains ranging from 10% to 25%, a possible sign that certain sub-sectors of the market are on the verge of a breakout. Here’s a look at three Polkadot ecosystem protocols that have seen their token prices trend higher in recent days. Acala launches a $250 million aUSD ecosystem fund Acala…

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Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-asset market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin (BTC) for Ethereum (ETH). The RFB’s declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the country to the regulator. At the end of last year, the group issued an opinion in which it claimed that trading between cryptocurrency pairs is taxable even if there is no conversion to the…

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Binance signs MOU with Kazakhstan to further crypto adoption and regulation

Cryptocurrency exchange Binance has signed a memorandum of understanding, or MOU, with the government of Kazakhstan to bolster “virtual asset market development” in the central Asian country.  The signing of the MOU, which is between Binance and Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry, took place on Wednesday during Changpang Zhao’s official visit to the country. The Binance CEO met with Kazakh President Kassym-Jomart Tokayev, First Deputy Chief of Staff Timur Suleimenov and Bagdat Musin, the minister overseeing the country’s digital innovation strategy. Under the framework, Binance will…

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JPMorgan places BTC fair price at $38k, declares crypto a preferred alternative asset

JPMorgan has placed Bitcoin’s (BTC) fair price at $38,000, which is 28% higher than its current level of around $29,500, according to a note to clients the bank issued Wednesday. “The past month’s crypto market correction looks more like capitulation relative to last January/February and going forward we see upside for bitcoin and crypto markets more generally,” the note said. Bank strategist Nikolaos Panigirtzoglou was the lead author of that document. A bank investors’ note placed Bitcoin’s fair value at the same level in February. It was trading around $43,000…

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Bitcoin creeps toward $30K, but data shows bears in favor for Friday’s $1.8B BTC options expiry

Bitcoin (BTC) price has been unable to close above $32,000 for the past fifteen days and is currently down 37% year-to-date. Although that might seem excessive, it does not stand out among some of the largest U.S.-listed tech companies that have also sustained notable losses recently.  In this same 15-day period, Shopify Inc. (SHOP) stock dropped 76%, Snap Inc. (SNAP) crashed 73%, Netflix (NFLX) is down 70% and Cloudflare (NET) presented a negative 62% performance. Cryptocurrency investors should be less concerned about the current “bear market” considering Bitcoin’s 79% annualized…

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Scott Minerd says Bitcoin price will drop to $8K, but technical analysis says otherwise

Bitcoin (BTC) is predicted to drop more than 70% to the $8,000 value area, according to comments by Guggenheim chief investment Officer Scott Minerd. This is not the first time he has made a bearish call, and he has, in the past, made bullish calls as well. However, Minerd’s more recent calls have occurred just before major reversals. Scott Minerd BTC price calls:– $600k at $60k → went to $30k.– $10k at $30k → price to $65k.– $8k at $30k (again) → TBD. pic.twitter.com/NWjrRdegFM — mhonkasalo (@mhonkasalo) May 23, 2022 It…

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Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil

Even though crypto markets appear to be on a long, arduous path ahead based on recent weeks of token turmoil, venture investors looking to get their hands on a Web3 future aren’t slowing down. On Wednesday, venture capital giant, A16Z, announced closing its fourth cryptocurrency fund at $4.5 billion. This brings the total money invested by Andreessen Horowitz in digital currency and blockchain business to more than $7.6 billion. The new investment vehicle will focus on early-stage ideas as well as projects that are more mature and have already shown…

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