Bitcoin can solve the DeFi onboarding crisis, argues exec

As the decentralized finance space remains plagued with hacks, people have become less interested in jumping in and engaging with DeFi. But, according to Dennis Jarvis, the CEO of Bitcoin.com, there is a way for DeFi adoption to move forward through Bitcoin (BTC).  In a keynote speech at the Blockchain Economy Dubai Summit 2022, Jarvis pointed out that massive losses of investor funds like the collapse of Terra and the Axie Infinity Ronin hack have made DeFi unappealing to potential users. However, the executive believes that by using Bitcoin as a…

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South Korean foreign ministry orders Do Kwon to return his passport

South Korea’s Ministry of Foreign Affairs on Wednesday issued an order for Terraform Labs CEO Do Kwon to surrender his passport.  The fugitive co-founder must hand over his Korean passport to authorities within 14 days of the said order. A failure to comply with the order will result in the cancellation of his passport altogether. The official order also warned that failure to comply will lead to the rejection of requests for re-issuance in the future. Another local report noted that the passport return order was issued for a total…

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Binance Coin Looks Good; Will Price Make Rounded Bottom?

BNB’s price continues its bullish structure after a reclaim of this region as the price stays on track to reject major resistance.   BNB trades above key support as price reclaim 8 and 20-day EMA. The price of BNB aims to form a rounded bottom on the daily timeframe.  Binance Coin (BNB) has continued to look more decent in terms of price action against tether (USDT) after reclaiming a bullish structure. Binance Coin (BNB) has had a favorable response as the prices of altcoins and the crypto market look to bounce…

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Solar ‘Bazooka’ Bitcoin mine warms warehouse amid Europe’s energy crisis

It’s another win for Bitcoin miners and the environment. A Dutch Bitcoiner has installed a Bitcoin (BTC) miner in a warehouse to replace the heating system powered by natural gas.  Why? Because it’s cheaper, more environmentally friendly, and uses solar power. Our latest installation heats a warehouse with electricity instead of natural gas. We’ve installed manual valves to guide airflow. The sound has been attenuated under 40db with a large damper. The people that work in the warehouse enjoy the warm temperature and low sound. pic.twitter.com/fcdEUlqiuN — Bitcoin Brabant (@BitcoinBrabant)…

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Korean police reportedly arrest first person involved in Terra collapse

After months of investigation without any single arrest and the main offender on the run teasing the enforcers on Twitter, South Korean police have reportedly captured the first person involved in the Terra blockchain ecosystem collapse.  The news about the arrest of Yoo Mo, the head of the business team of Terraform Labs, appeared in Korean media on Oct. 6, later the district prosecutor Choi Sung-kook confirmed the information to Forkast. The Seoul Southern District Prosecutors’ Office issued a bench warrant on Yoo on Oct. 5, reportedly charging him with…

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BTC to outperform ‘most major assets’ in H2 2022 — Bloomberg analyst

Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about 20% for the month, and that commodities appearing to peak could imply that Bitcoin has reached its bottom. In an Oct. 5 Bloomberg Crypto Outlook report, McGlone says while the rise of interest rates globally is putting downwards pressure on most assets, Bitcoin is gaining the upper hand when compared with commodities and tech stocks like Tesla, with the report noting: “When the ebbing economic tide…

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How crypto Twitter could change under Musk’s leadership

Barring another change of heart and certain conditions to be met, Elon Musk’s acquisition of Twitter looks set to go ahead, prompting the question of whether some or all of the changes he initially hinted for the platform will become a reality.  The platform is a popular communication and news tool for crypto enthusiasts, users and investors, not to mention crypto scammers, with the social media platform seeing roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts. Looking back at Musk’s initial commentary when he proposed a buyout…

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Someone’s filed for Cramer ETFs with the SEC

Connecticut-based advisory firm Tuttle Capital Management has submitted a preliminary prospectus filing with the U.S. Securities and Exchange Commission (SEC) for two new exchange traded funds (ETFs) centered around betting against the investment tips from Jim Cramer. Cramer is the host of CNBC’s Mad Money, and has become a popular meme in the crypto and stock community, who believe he has an uncanny knack of giving investment tips that end up being way off the mark. In relation to crypto, one of Cramer’s most notable tips was to buy Coinbase…

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TA: Ethereum Price Looks Ready For Another Leg Higher Over $1,500: Here’s Why

Ethereum is showing positive signs above the $1,350 resistance zone against the US Dollar. ETH could gain bullish momentum if there is a clear move above the $1,400 resistance. Ethereum is gaining pace and recently traded above the $1,375 level. The price is now trading above $1,350 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,355 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move…

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Yuga Labs launches BAYC council, Animoca backs Cool Cats and more…

Yuga Labs has announced a new Bored Ape Yacht Club (BAYC) community council to help the project “grow and thrive.” The team revealed seven council members in an Oct. 5 blog post, noting that they are all OGs who have been around since the early days of the BAYC. Yuga Labs said it assembled a new community council made up of “Apes with a proven track record of proactively and positively contributing to the club since the start.” The members include, @beijingdou, @SeraStargirl, @TheMiamiApe, @OxEthanDG, @OxWave, @negithenagi, @peterjfang. “This council…

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