In an important development, Infinity Skies has announced that it has collaborated with Chainlink to integrate the latter’s Verifiable Random Function (VRF) to bring more transparency and authenticity to its distribution of Loot Boxes. Infinity Skies is developing a blockchain-based game in which pl..
Intercontinental Exchange, the operator of the New York Stock Exchange and the owner of Bakkt digital asset platform, has sold its 1.4% stake in the newly Nasdaq-listed cryptocurrency firm Coinbase.
Announcing the news Thursday on a financial results call for the first quarter of 2021, ICE chief financial officer Scott Hill said that the company sold its Coinbase stake for $1.2 billion. The executive noted that the sale generated approximately $900 million net after taxes.
Hill said that the proceeds were used to reduce ICE’s debt at the end of the first quarter. He noted that the company’s pro forma leverage, or total indebtedness rate, would have been closer to 3.6x compared to 4.2x when ICE acquired mortgage-focused software company Ellie Mae in September 2020.
“We are definitely a bit ahead of schedule, been paying down debt faster than we sort of expected when we started the deal. I mean I would say we were doing that, though, before the Coinbase sale,” ICE’s incoming CFO Warren G..
Bitcoin (BTC) is showing tenacity above $50,000 on March 25. The 10% drop over the last 24 hours happened despite Tesla allowing customers to buy vehicles using BTC in addition to CEO Elon Musk affirming that it will not be converted to fiat currency.
On March 22, the United States Federal Reserve chair, Jerome Powell, stated that Bitcoin was too volatile, "backed by nothing," and more of an asset for speculation. Curiously, on that same day, BTC lost its $56,000 support, which became a resistance.
Traders worry that the pump might have been news-driven, while the downtrend movement shall prevail. Although this is possible, derivatives indicators aren't leaning bearish, and any decent correction will likely meet strong support at $50,000.
Bitcoin price 3-hour candle chart (Coinbase). Source: TradingViewPart of the uncertainty investors might have derived from the record $6.1 billion options expiry on March 26. Nevertheless, 84% of the neutral-to-bearish put options are already dee..
Automated market maker exchange Bancor has rolled out a new mechanism that allows users to increase their capital efficiency while providing liquidity in its pools.
Called Vortex, the solution allows users providing liquidity in BNT, Bancor’s utility token, to borrow funds while continuing to obtain yield from swap fees.
The Vortex mechanism reworks the existing mechanism of vBNT, a special version of the BNT token that entitles users to participate in governance. The voting token is automatically received when staking BNT into a liquidity pool, and it can be defined as Bancor’s pool token.
The Vortex proposal adds functionality to vBNT, creating an infrastructure that allows users to sell the token for the original BNT. Once vBNT is converted, users can exchange it into any other asset.
The vBNT sale mechanism makes Vortex a no-liquidation lending platform, letting liquidity providers receive their future rewards immediately, in a similar manner to Alchemix. Since their principal cont..
Gemini exchange co-founder, Cameron Winklevoss, has stated the company expects to overtake the current largest crypto exchange by volume, Binance, predicting its emphasis on compliance will win out as regulators increasingly crack down on unregulated exchanges.
As reported by Bloomberg on July 12, Cameron Winklevoss emphasized the importance of adhering to regulators’ demands, stating that Gemini is “playing the long game:"
“We’re trying to be the fastest tortoise in the race. The long game pays off over time.”The comments come as Binance faces increasing regulatory pressure, with the U.K’s. Financial Conduct Authority told Binance that it wasn’t authorized to carry out regulated activities in the country in late June. A banking blockade followed as several high street banks curtailed their customer’s activities with the exchange.
Around the same time, Bloomberg also reported that the U.S. Department of Justice, the Internal Revenue Service, and the Commodity Futures Trading Commission..
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