Tag Archives: AA News

Ether balance on the centralized crypto exchanges has reached a five-year low.  According to the latest data from Glassnode, there are currently 17.8 million ETH on exchanges – a level not seen since July 2016. This figure essentially represents less than 15% of the Ethereum network’s total token supply. To put things into perspective, the exchange balance was recorded to be around 26% during 2021’s bull market. ETH Stored on Centralized Exchanges. Source: GlassnodeSuch a...

The regulatory tension in the United States has caused many large crypto-focused companies to look abroad, and Gemini is no exception. The firm led by the Winklevoss twins has managed to secure a license to operate as a Virtual Asset Service Provider in Ireland. The company said it will host its European operation in Dublin. Leo Varadkar, the prime minister of Ireland, took the opportunity to formally congratulate Gemini. Gemini – the first firm registered by the Central Bank...

Huobi Global announced gearing up for the launch of its Hong Kong division on June 1st for users in the city-state. The expansion comes in the backdrop of the Hong Kong securities regulator – Securities and Futures Commission’s (SFC) decision – to allow retail trading in cryptocurrencies has come after a year of turmoil in the sector. The new venue in the special administrative region of China called Huobi Hong Kong will be “fully compliant with local regulations and offer a...

Cardano founder Charles Hoskinson believes the project’s decentralization would act as a “wake-up” call for the industry. In a recent update to the community, Hoskinson said ADA is “substantially more decentralized” than all cryptocurrencies in the market. The exec stressed that the Cardano Improvement Proposal (CIP-1694) – which is a mechanism for on-chain governance that will underpin the Voltaire phase of the network – will prove to be a game-changer in the...

JP Morgan is developing an artificial intelligence service similar to ChatGPT geared towards offering users investment advice. The software service, titled “IndexGPT,” will tap cloud computing software using AI to analyze and select securities based on its customers’ needs.  AI Investing With JP Morgan As reported by CNBC, JP Morgan applied to trademark a product under the new name this month, per a filing from the bank.  Other banks such as Goldman Sachs and Morgan Stanley...

Meme coins are undoubtedly already embedded in the crypto culture as they’ve left their mark on the industry. Dogecoin, Shiba Inu (SHIB), and most recently – PEPE Coin have all taken the field by storm and continue to perform. The question is – what is their future? Will they remain a prominent part of the industry or will they eventually fall into oblivion? We decided to poke the artificial brain of ChatGPT – the popular AI-based language model that’s also causing ripples in...

The cryptocurrency space is full of stories regarding certain investors, typically larger ones, who made fortunes with their investments in more speculative assets like memecoins. These examples tend to attract jealousy as well as some resentment from less fortunate market participants. Today, however, we will take a look at the other side of this coin. A few years ago, it was Dogecoin. Then, it was Shiba Inu. This year, at least for now, the massive memecoin explosion has...

South Korea’s National Assembly has officially passed a bill into law requiring lawmakers and high-ranking government officials to disclose their crypto asset holdings.  The new law is a response to a recent scandal involving a politician allegedly violating campaign finance laws using cryptocurrency.  The “Kim Nam-guk Prevention Law” According to a report from local news agency News1, the relevant amendments to the National Assembly Act and Public Service Ethics Act passed...

The European Systemic Risk Board (ESRB) published a report on Thursday outlining the top 3 nightmare scenarios in which a crypto industry crisis could bleed in and pose “systemic risk” to the broader financial system.  The top risk listed is a potential run on a “large reserve-backed stablecoin,” such as Tether (USDT) or USD Coin (USDC).  Crypto’s Connection to TradFi In its 77-page report, the ESRB argued that as the volatile crypto industry grows, so too does its connection...

Coinbase-incubated Base is gearing up for a mainnet launch as the Ethereum layer 2 ecosystem heats up. Path to Base mainnet includes a certain set of objectives to be met. The official timeline for the mainnet launch has not been revealed yet, but Optimism’s upcoming Bedrock upgrade remains a crucial factor. Base Mainnet The Base testnet, which is based on a roll-up agnostic superchain powered by Optimism, has been running since February this year, during which it focused on...