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Join Our Telegram channel to stay up to date on breaking news coverage Conflux’s CFX token spiked by over 10% on Thursday, and it has been one of the top performers for the year so far. CFX rose by over 1800% since the start of the year, with significant price increases throughout February and most of March. Coinflux to Integrate Crypto Wallets In Physical SIMs Coinflux’s blockchain-enabled sim card (BSIM) has been one of the main reasons for this bullish performance, and the token followed an upward trajectory last month following the announcement of BSIM. The company also has a strong presence in China and plans to offer a unique way for users to interact with their crypto applications on a daily basis. The partnership between Conflux Network and China Telecom has resulted in the development of the BSIM card, an all-new product by the company. China Telecom is the second-largest wireless carrier in China with an estimated 390 million subscribers. The BSIM pilot ...

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Sources have reported that Sergio Ermotti has been brought back as the CEO of UBS Group AG (UBSG.S) to lead its significant acquisition of Credit Suisse (CSGN.S). This unexpected decision aims to capitalize on his expertise in restructuring the bank after the worldwide financial crisis. As CEO of UBS Group AG, Sergio Ermotti will face several pressing challenges, including implementing workforce reductions affecting thousands of employees and the downsizing of Credit Suisse’s investment bank. Additionally, he will need to restore confidence among high-net-worth individuals, ensuring that UBS remains the preferred destination for their investments. From April 5th, the current chairman of Swiss Re (SRENH.S), Ermotti, will assume leadership. Previously, Ermotti served as the chief executive of UBS from 2011 to 2020. Following the announcement of his appointment, premarket activity on the Zurich stock exchange showed UBS shares indicated 2.3% higher. Moreover, Ermotti ...

Bitcoin bears get a sudden roasting as short squeeze sends BTC price action to levels last seen before the Binance regulatory debacle. Bitcoin (BTC) headed back to $28,000 on March 29 as a classic short squeeze took the market to five-day highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC liquidations mount as Bitcoin reverses Binance dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp. The abrupt uptick came courtesy of exchanges , where a band of shorts were “blown out” to remove resistance and allow higher levels to return. As noted by analyst Skew, these short s were left over from Bitcoin’s prior moves, and were worth around 1,500 BTC. “Looks like the previous bounce was shorted heavily & those shorts just got blown out,” part of accompanying commentary stated. Bitcoin exchange data summary chart. Source: Skew/ Twitter According to analytics resource Coinglass, total BTC short liquidations for March 29 stood a...

National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney general, confirmed the involvement of the institution in a parallel scheme that involved the sale of Venezuelan oil to third parties, mentioning Sunacrip as part of the criminal structure. National Exchanges Pause Operations in Venezuela The “Crypto-PDVSA” anti-corruption probe, named after the state-owned oil company, is still investigating the involvement of Sunacrip, the Venezuelan crypto watchdog, in the illegal sale of oil to third parties. According to recent reports, the probe has resulted in the pause of all trading activity of national cryptocurrency exchanges, with no date for resuming operations announced. Ana Ojeda, a Venezuelan cryptocurrency lawyer, also known as “Criptolawyer” on Twitter, stated: Venezuel...

Alibaba Cloud, the intelligence and digital technology subsidiary of Chinese conglomerate Alibaba group, is set to launch a blockchain lab in the Japanese city of Shibuya next month. The lab is reportedly aimed at increasing Web3 business opportunities for game developers in Japan. According to a report by Alibaba News, the blockchain lab will be launched in partnership with Skeleton Crew, a game and virtual reality (VR) content development company based in Japan. The Tokyu Land Corporation will also be a part of the laboratory’s launch. The blockchain lab will initially be available for select customers who are currently collaborating with Alibaba Cloud. Hackathon participants, engineers employed at partner firms that specialize in Alibaba Cloud and blockchain, will also be able to access the brand new Web3 facility in Shibuya. The blockchain lab will serve as an incubation hub where game designers will be able to improve their skills on the latest blockchain tech. “De...

Mar 27, 2023 at 08:39 // Price Author Coin Idol This week saw a series of downward moves in cryptocurrencies. As cryptocurrencies OP, IMX and ARB are in the downtrend zone, there is a risk that they will fall further. On the other hand, CFX and STX could regain their previous highs as long as cryptocurrencies move above the moving average lines. Later, we will discuss a handful of these other coins in more detail. Arbitrum Arbitrum (ARB) is in a sideways trend but has climbed above the 50-day line SMA. The crypto currency 's value fell from a high o...

Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using distributed ledger technology. Central Bank Considers Appropriateness of Retail CBDC Gerhard van Deventer, a senior fintech analyst at the South African Reserve Bank (SARB) recently disclosed that regulations governing the so-called tokenized deposits and crypto assets are expected to come into effect on Jan.1, 2025. Although taking this step is seen as an important milestone, Deventer, however, warned regulators still need to understand the risks that are associated with the technology underpinning digital assets. To achieve this, the SARB and its partners have conducted experiments whose objective was to understand and identify the risks as well as the benefits of distributed ledger techno...

The passed measure ends the 1% USDC to DAI minting fee that was previously implemented. MakerDAO, the decentralized autonomous organization (DAO) that governs the DAI stablecoin, has voted overwhelmingly to keep USD Coin (USDC) as the primary collateral for DAI. An alternative proposal to “diversify” collateral into Gemini U.S. Dollar (GUSD) and U.S. Dollar Paxos (USDP) has been reject ed in a 20% to 79% vote, according to the proposal’s official page. Vote totals for the proposal to normalize PSM Parameters. Source: MakerDAO official website In the proposal posted on March 17, the MakerDAO Risk Core Unit suggested that the risk of a cascading bank run in the U.S. has been reduced, thanks to responses from the U.S. federal government. As a result, the risk of using USDC as collateral “has declined significantly since last week and further solvency concerns or depegs are not expected at this time.” However, it also argued that some risks remain. USDC has “potentially more risky exp...

On Thursday, the Arbitrum airdrop claiming process went live and ARB markets dropped more than 85% lower than pre-IOU market prices recorded the day before. Arbitrum airdropped just over a billion ARB tokens, or 11.6% of the total supply. At noon ET, more than 474 million tokens had been claimed. Wild Volatility for ARB Token: Prices Range from $1.10 to $11.80 per Unit Following Airdrop At block height 16,890,400, around 9 a.m. ET, the Arbitrum airdrop claiming process began and distribution of 11.6% of the supply started. The day before, Bitcoin.com News reported on exchanges listing IOU ARB markets just before the real ARB token launched on Thursday. At that time, ARB’s value in U.S. dollars was more than 85% higher. At the time of writing, a single ARB was trading for $1.25 per unit. The ARB token has seen wild volatility over the last 12 hours with prices ranging from $1.10 to $11.80 per ARB. ARBUSDT chart by TradingView ARB’s price has been down despite bitcoin nearing $2...

The much-awaited PulseChain testnet V3 has been launched on Thursday, March 23 and it is now available for public testing. The founder of Hex, Richard Heart confirmed the release through a tweet giving users access to the block chain . The testnet will be in place for the next few days before the mainnet is integrated and released. “PulseChain testnet V3 is here! Please use it and prepare for the mainnet launch! Warning, this is the final testnet and mainnet may launch at any time now,” the tweet read. Also Read: HEX is Trading at a 9-Month High As Token Continues to ‘Trend’ https://t.co/tyQE8i8y5h test net V3 is here! Please use it and prepare for main net launch! Warning, this is the final test net and main net may launch at any time now PulseX: https://t.co/oPYZ2ATgUi Be a validator: https://t.co/sRsNVN4Jdm Block Explorer: https://t.co/TZ9BGujoPx — Richard Heart (@RichardHeartWin) March 22, 2023 The PulseChain testnet also opened avenues to check ‘how to be a val...

Industry experts and regulators weigh in on the European Union’s proposed MiCA rules at Paris Blockchain Week. Regulators and industry players highlighted a number of implications and potential impacts of the European Union’s Markets in Crypto-Assets (MiCA) Regulation at the Paris Blockchain Week 2023. A panel titled ‘MiCA: How is the EU Regulating Crypto?’ delved into the proposed MiCA regulation which is expected to take effect in 2024. The 400-page regulatory guideline for cryptocurrencies and digital assets has been a major talking point across the continent. Unpacking MiCA and its implications - a panel discussion featuring industry experts and regulators at Paris Blockchain Week 2023.  Gundars Ostrovskis gave inside insights into the development of the MiCA documentation, given his involvement as a team leader in the Digital Finance Unit of the European Commission. Working alongside colleagues that drafted the MiCA regulations, Ostrovskis highlighted the belief that the legisla...

Newsquakes, Twitter Volume and Most Active On-Chain alerts helped Cointelegraph Markets Pro users find three assets that had big moves. Last week, Cointelegraph Markets Pro, an institutional-grade crypto intelligence and alerts platform, provided subscribers the opportunity to trade three coins that embarked on momentum-fueled price moves.  The advanced data analysis tools at Cointelegraph Markets Pro used three alert systems to highlight these coins. Newsquakes, which inform traders of potentially price-moving news alerts in real time, was triggered by Sommelier (SOMM) on Friday, March 17. The Twitter Volume indicator, which measures a project’s mentions and activity on the social media platform Twitter, exposed Immutable X (IMX) as a potential candidate for a significant price move before the move occurred in full. One of Cointelegraph Markets Pro’s newest indicators, Most Active On-Chain, shows the projects with the biggest increase in the number of addresses on-chain over the last...

The lawsuit stems from a million-dollar exploit in November 2022 that allegedly took place due to a private key leak. On Mar. 20, GameFi project Gala Games announced it had recently filed a lawsuit against pNetwork, the cross-chain interoperability bridge used by Gala on the BNB Smart Chain. Last November, Gala Games was exploited after an unauthorized wallet address minted over $2 billion in GALA and dumped the tokens on PancakeSwap, draining $4.5 million from the liquidity pool and causing a substantial plunge in GALA's token price.  The lawsuit alleges that the incident was the result of "negligence and tortious interference" from pNetwork. On Nov. 7, 2022, Blockchain analytics platform SlowMist alleged that the incident may have stemmed from a plain text private key leak in one of three pNetwork affiliated smart contracts on Gala. The leaked private key, as told by SlowMist, was publicly viewable on GitHub. "The lawsuit states that (i) pNetwork admitted that...

Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic. The United States Federal Reserve has announced a coordinated effort with five other central banks aimed at keeping the U.S. dollar flowing amid a series of banking blowups in the U.S. and in Europe. The March 19 announcement from the U.S. Fed comes only a few hours after Swiss-based bank Credit Suisse was bought out by UBS for nearly $2 billion as part of an emergency plan led by Swiss authorities to preserve the country's financial stability. According to the Federal Reserve Board, a plan to shore up liquidity conditions will be carried out through “swap lines” — an agreement between two central banks to exchange currencies. Swap lines previously served as an emergency-like action for the Federal Reserve in the 2007-2008 global financial crisis and the 2020 response to the COVID-19 pandemic. Federal Reserve-initiated swap lines are de...

Euler Labs CEO Michael Bentley stated he will “never forgive” the hacker as the exploit caused him to lose time with his newborn son. Ten separate audits conducted over a two-year period of the Ethereum-based lending protocol Euler Finance deemed it to be “nothing higher than low risk” and having “no outstanding issues” prior to it suffering from a $196 million attack. In a series of tweets on March 17 Euler Labs CEO, Michael Bentley described the “hardest days” of his life after Euler’s $196 million flash loan attack on March 13. He retweeted one user sharing information that Euler had 10 audits from 6 different firms, and commented that the platform “has always been a security-minded project.” Euler has always been a security-minded project. The Euler smart contracts, including the vulnerable lines of code, were audited.https://t.co/SvNeoKEGuY — Michael Bentley (@euler_mab) March 16, 2023 Blockchain Security firms including Halborn, Solidified, ZK Labs, Certora, Sherlock and ...