Author: CryptoReporter

Celsius CEO Alex Mashinsky reportedly “took control” of trading strategy at the crypto lending firm amid January rumors the United States Federal Reserve planned to hike interest rates.According to a Tuesday report from the Financial Times, Mashinsky personally directed individual trades and overruled financial experts in an effort to protect Celsius from anticipated declines in the crypto market. The Celsius CEO reportedly ordered the sale of “hundreds of millions of dollars” worth of Bitcoin (BTC) in one instance, rebuying the coins less than 24 hours later at a loss.Alex Mashinsky took control of Celsius trading strategy months before bankruptcy https://t.co/AnydQiZLCC—…

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Solana (SOL) price rallied by approximately 75% two months after bottoming out locally near $25.75, but the token’s splendid upside move is at risk of a complete wipeout due to an ominous bearish technical indicator.A major SOL crash setup surfacesDubbed a “head-and-shoulders (H&S),” the pattern appears when the price forms three consecutive peaks atop a common resistance level (called the neckline). Notably, the middle peak (head) comes to be higher than the other two shoulders, which are of almost equal height.Head and shoulders patterns resolve after the price breaks below their neckline. In doing so, the price falls by as…

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According to local news outlet Sohu.com, on Tuesday, the state-owned Bank of China announced a new program to bridge primary school education with smart contracts. In a combined partnership with local education and financial authorities, parents residing in the city of Chengdu, located in China’s Sichuan province, will be able to enroll their children in after-school or extracurricular lessons using the digital yuan central bank digital currency, or e-CNY.Under the pilot test, parents start by paying a deposit to a private educational entity for a series of lessons. Afterward, a smart contract binds each lesson on a pro-rata basis to the…

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Source: AdobeStock / Alexandr Blinov Hyundai Motor Group’s securities arm has extended its partnership with the South Korean crypto exchange Bithumb – and will allow its app users to access real-time crypto markets data.In an official announcement, Hyundai Motor Securities, one of South Korea’s biggest securities providers, explained that it will add info on its customers’ crypto holdings to its MyData asset management platform.MyData is a much-hyped new service in the South Korean financial sector. The service comprises government-regulated platforms that allow individuals to view all of their assets and liabilities on a single platform. This means that even if customers…

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While Bitcoin (BTC) has failed in countering this year’s rampant global inflation, it should still be considered as an inflation hedge, says Steven Lubka, the managing director of private consumers at Swan Bitcoin. According to Lubka, Bitcoin works well as a hedge against rising prices when inflation is caused by monetary expansion. It is less effective when inflation is caused by the disruption of the food supply and energy, which he sees as the leading cause of this year’s rampant inflation. “In a world where the price of goods is going up because there’s been a radical loss of abundance, Bitcoin isn’t…

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Source: AdobeStock / Oleg A Russian central bank digital currency (CBDC) could be around the corner, with commercial banks in the country now being told by the central bank to prepare to handle a digital ruble within the next two years.According to a document dated August 11 and issued by the Bank of Russia – the country’s central bank – a digital version of the ruble may become available and usable for settlement between individuals and enterprises as early as next year.Meanwhile, by 2024, the Russian CBDC may be used to connect financial institutions to the digital ruble platform, as well…

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Crypto exchange Huobi Global announced the suspension of derivatives trading in New Zealand. The statement from Huobi said the new restrictions against derivative offers are in light of compliance with local regulations. Users in New Zealand will no longer have access to derivative trading services, which include coin-margined futures and swaps, USDT-margined contracts, options and exchange-traded products (ETPs).The new restrictions will take effect on Aug. 23, 2022. On the same day, Huobi Global will no longer accept users with New Zealand Know Your Customer (KYC), along with IP addresses from the area. Users wishing to close out active positions can do so…

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Among a rich range of anxieties both for the crypto industry and the global economy at large, the summer of 2022 will be remembered as the time when stablecoins proved themselves to be not so stable and thus came into the focus of regulators’ attention. The shock of the TerraUSD (UST) depegging in May opened a season of heated-up discussions on stablecoins around the world. The top financial officials from the Group of Seven largest advanced industrial economies had to send their private jets to the 40,000-populated German town of Koenigswinter to push the international body of the Financial Stability Board…

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Companies on the Australian Securities Exchange (ASX) could be able to trade tokenized bonds, equities, funds, or carbon credits after a successful proof-of-concept trial led by the digital asset investment platform Zerocap. On Monday, Melbourne-based digital asset investment platform Zerocap told Cointelegraph it had successfully used Synfini to bridge over its custody infrastructure onto the platform as part of a trial program, allowing for the trading and clearing of Ethereum-based tokenized assets. The trial is part of ASX’s distributed ledger technology (DLT)-based settlement project Synfini which was launched in November. The platform offers clients access to ASX’s DLT infrastructure, data…

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Source: AdobeStock / Samuel Meme coins like shiba inu (SHIB) and dogecoin (DOGE) are on the rise in the market, with SHIB, in particular, standing out as the third-best performer among the top 100 cryptoassets by market capitalization over the past week.At press time (09:25 UTC) on Monday, SHIB traded at USD 0.001569, up 0.4% for the past 24 hours and up 30% for the past week. Meanwhile, DOGE stood at USD 0.076, down 4% for the day but up 10.5% for the week.From its all-time high in October last year, SHIB remains down by about 82%, while DOGE is down…

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