Binance CEO Changpeng Zhao has condemned the move by the US Securities and Exchange Commission to leak employee chat records. In a letter to employees, CZ called the use of chat logs by the SEC "ridiculous," according to a translated copy of the memo shared by Odaily Planet Daily on Thursday. "It's ridiculous for the SEC to use this as a poster, but we'll let the lawyers take care of it," the crypto boss wrote.... Read More: Binance CEO Condemns Leaked Chat Logs, Acknowledges Significant 'Damage'

Pepe whale acquires trillions of PEPE tokens, leading to 7% price increase

The post Ripple News – Crypto Analyst Predicts Major Breakout For XRP Price: $1.4 On The Horizon? appeared first on Coinpedia Fintech News The XRP market has significantly outperformed the top digital assets in the past month with a jump of about 24 percent. Other digital assets in the same class as XRP including Cardano (ADA), and Solana (SOL) among others have dropped double percentage points in the past month. XRP’s Resilient Performance The XRP market has strongly …

“We look forward to the court’s review of this power grab by the Fed,” said Custodia after a judge denied the Fed’s motion to dismiss the lawsuit.

Data analysis platform Kaiko has observed a pattern in the clampdown on US-based crypto exchanges. Kaiko’s observation suggests regulators in the US target flourishing crypto exchanges. In a tweet, Kaiko indicated that the Securities and Exchange Commission (SEC) first charged Bittrex Exchange over regulatory issues. At the time of the charge, Bittrex had the highest The post Pattern Emerges Over the SEC’s Crypto Exchange Clampdown appeared first on Coin Edition .

Cathie Wood's purchase of more than 400K Coinbase Global ( NASDAQ: COIN ) shares after the Securities and Exchange Commission sued the cryptocurrency exchange isn't betting against the government, she said Friday. "Actually, I'm betting on the checks and balances inherent in our government," she said during an interview on CNBC. Wood said she's encouraged that the legislative and judicial branches are "studying and getting involved in this topic. I think it's great." Last week, the Representatives Patrick McHenry and Glenn Thompson released a proposal for a digital asset market structure. And there are a number of crypto-related cases making their way through the courts. Coinbase ( COIN ) said it's prepared to take its fight with the SEC to the Supreme Court . The SEC's regulation and the regulatory uncertainty in the U.S. regarding crypto "is chasing digital asset business away from this country," she said. Wood expects that digital asset regulation will be an election year issue. With that and the legislative branch and courts weighing in, she sees more clarity in regulation and eventually a path to registering digital assets for trading. "I think in the next year, we'll get a lot more certainty," she said. Friday's development that Binance.US is halting US dollar deposits "from a market share point of view is a benefit to Coinbase ( COIN )," she said. She still stands behind the view that bitcoin ( BTC-USD ) will jump to $600K by 2030, and more than $1M in her bull case. Bitcoin recently traded at almost $26.7K on Friday morning, up 1.1% . Coinbase ( COIN ) edged down 0.1% . More on Coinbase and the SEC: Moody's cuts Coinbase outlook to negative on SEC charges, but affirms credit ratings Coinbase Global Is in Serious Trouble Coinbase Stock: Look Out Below SEC versus crypto: Regulatory clarity or confusion? SEC sues Coinbase for operating as unregistered broker SEC alt-coin clampdown could put 30% of Coinbase revenue at risk, Mizuho says

In a move that could significantly impact the crypto industry, the U.K.’s Financial Conduct Authority (FCA) is set to implement new rules that would prohibit the distribution of free non-fungible tokens (NFTs) and cryptocurrencies through airdrops as part of promotional campaigns. An official at the FCA confirmed the impending restrictions, stating that after the rules ... Read more

The post Bitcoin Price Analysis: Expert Predicts $50K Surge Amid Regulatory Storm appeared first on Coinpedia Fintech News Amidst increasing regulatory pressures on the cryptocurrency industry, analysts maintain an optimistic outlook for Bitcoin, projecting a gradual and consistent price increase. Additionally, notable figures in the crypto market, including strategist Dave the Wave and Ark Invest CEO Cathie Wood, stand by their bullish predictions for Bitcoin’s future. Bitcoin At $50k Renowned cryptocurrency strategist Dave …

The post Top Cryptocurrencies To Invest in June 2023: Filecoin, HedgeUp, And Polkadot appeared first on Coinpedia Fintech News The cryptocurrency landscape is an ever-evolving one, with new opportunities cropping up frequently. As we head into June 2023, three names stand out as particularly promising for investment: Filecoin (FIL), HedgeUp (HDUP), and Polkadot (DOT). Each of these tokens presents compelling potential for growth and stability, making them an attractive choice for discerning investors. Filecoin …

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Algorand Price Prediction 2023-2032 If you are thinking of investing in a cryptocurrency, Algorand is one of the best choices you can make. However, it is not just enough to hold the ALGO cryptocurrency in high esteem. The coin has to perform up to expectations. You have to look at Algorand’s price prediction from 2023 ... Read more

The post XRP Crowned “Top Staking Asset” On Bitrue appeared first on Coinpedia Fintech News Bitrue’s Power Piggy has witnessed XRP emerging as the top stake-backed asset, offering users a promising opportunity to generate passive income through crypto staking and investment. According to a tweet by the crypto exchange, the top three assets in the Power Piggy program are XRP, Xinfin (XDC), and Bitcoin (BTC). In an official statement, Bitrue …

The post Kraken NFTs Quit Beta, Coinbase Receives “Stand with Crypto” Support appeared first on Coinpedia Fintech News Crypto exchange Kraken has officially announced the end of the beta phase for its NFT marketplace. Alongside this milestone, the platform has expanded its support significantly, increasing the number of NFT collections from 70 to an impressive 250. In response to the SEC’s lawsuit against Coinbase, crypto supporters have shown solidarity by creating “Stand with …

PARIS–(BUSINESS WIRE)–#DeFi–The competitors for the ‘Top-10 Web3 Startup’ fame at Proof of Talk, organized by X Ventures, have altogether raised

The post Meme Coin News: As PEPE Mania Cools Down, DigiToads (TOADS) Set To Take 1st Place appeared first on Coinpedia Fintech News Meme coins have emerged as a notable phenomenon in cryptocurrencies since their introduction into the market. These coins have succeeded in captivating the interest of meme enthusiasts and investors alike. In pursuit of the next big meme coin to invest in, investors are turning their attention to DigiToads (TOADS), a meme coin that distinguishes itself …

The value of the Solana cryptocurrency has risen even despite the number of transactions surrounding Solana NFTs declining sharply throughout the previous months. Dogecoin, on the other hand, has experienced a decline in value but is holding onto the $0.068 price point, and investors are bullish about its future. Tradecurve has surged by 25% in

Cell phone and internet provider AT&T says anyone with an AT&T email address is in danger of being targeted by cyberthieves looking to get their hands on cryptocurrency. AT&T Email Addresses Are in Danger Executives from the phone company have come out to say that hackers are infiltrating the email addresses of users with AT&T ... The post AT&T Email Addresses Are Being Compromised by Crypto Thieves appeared first on Live Bitcoin News .

Cardano has published source codes of Lace Wallet to bolster transparency

With traditional banks becoming more cautious about servicing the cryptocurrency industry, smaller regional banks and alternative payment service providers are stepping up to fill the gap. In the US, Customers Bancorp, a Pennsylvania-based lender, has become a popular choice, having launched a real-time payment platform to support the settlement of US dollar transfers underlying cryptocurrency transactions, according to a new list of crypto-friendly banks compiled by Bloomberg News.... Read More: As Traditional Banks Step Back, New Players Fill Gap in Crypto Banking

The growth of DeFi has happened in spite of the CEXs' stranglehold, with users relying on non-custodial wallets to access even the most basic of DeFi products.

The post Analyst Predicts Massive Surge For XRP and Ethereum (ETH) Price appeared first on Coinpedia Fintech News A renowned cryptocurrency trader, widely known by his pseudonym, DonAlt, predicts a significant surge in Ethereum’s value, stirring optimism among crypto enthusiasts. DonAlt, in a recent YouTube video, suggested that Ethereum could observe an approximate 36% rise from its current value, contingent on its ability to transform a pivotal resistance level into a supporting one. …

IOG believes that SEC's filing contains numerous factual inaccuracies.

Cryptocurrency firms are turning to a new banking system amid increasing regulatory scrutiny. In the U.S., smaller lenders now provide an alternative for crypto startups after the collapse of Silvergate Capital Corp. and Signature Bank. Customers Bancorp Inc., Pennsylvania, is one of the favorite destinations for many crypto firms. The search for alternative banking systems The post Crypto Firms Seek Alternative Banking Amid Regulatory Scrutiny appeared first on Coin Edition .

Moody’s affirmed its previous Coinbase credit rating but changed its price outlook to negative for the next 12 to 18 months.

The post Stablecoin Bill Unveiled by US House to Provide Guidance and Strengthen Fed Oversight appeared first on Coinpedia Fintech News The US House Financial Services Committee has recently unveiled a draft stablecoin bill, demonstrating a bipartisan effort between House Republicans and Democrats. The primary objective of the bill is to provide “clarity” in terms of the market structure of digital assets and the regulatory framework surrounding stablecoins. The bill will be further discussed and explored …

The Hong Kong Monetary Authority (HKMA) has announced its plans to lay the foundation for implementing a retail central bank digital currency (CBDC). The decision comes after extensive research and feedback gathered through two rounds of market consultation, leading the HKMA to conclude that initiating the groundwork for a potential future implementation is necessary. The ... Read more

The post Bitcoin Price Analysis: BTC Price Might Surge 60% By July End appeared first on Coinpedia Fintech News In response to the recent legal charges filed by the United States SEC against Binance and Coinbase Global, two prominent cryptocurrency platforms, Cardano’s IOG and Solana teams have vehemently asserted their decentralized nature and denied being classified as securities. These developments have further intensified the ongoing debate surrounding the regulation of crypto assets under US …

It has come to light that Credit Suisse, the Swiss banking giant, is making moves to divest its securities brokerage operations in China. This decision has been precipitated by the impending takeover by UBS, a fellow Swiss financial behemoth. As the unfolding situation unfolds, industry insiders reveal a keen interest from potential buyers. Eyeing the ... Read more

4 trillion Shiba Inu (SHIB) tokens transferred to Binance, what's going on?

The post Ripple CLO Pays Homage To Ex-SEC Chair, Expresses Gratitude appeared first on Coinpedia Fintech News The Chief Legal Officer of Ripple, Stuart Alderoty, recently took to Twitter to express his deep appreciation for the insights of the late Harvey Pitt, former Chairman of the U.S. Securities and Exchange Commission (SEC). https://twitter.com/s_alderoty/status/1666949240101167104?s=20 Alderoty emphasizes how Pitt’s perspectives continue to reverberate in the crypto industry, highlighting that the definitive classification of a …

Recent data reveals that the Federal Reserve’s Bank Term Funding Program (BTFP) has reached a milestone of $100 billion in usage, indicating continued financial assistance to banks and highlighting the persistent nature of the U.S. banking crisis. The program has consistently experienced high utilization for five consecutive weeks, reinforcing its significance in providing vital support The post US Crisis: $100B Emergency Loan Usage Highlights Crypto Scrutiny appeared first on Coin Edition .

The cryptocurrency market is a bustling hub of diverse assets, each with its own unique features and potential appeal to … Continued The post 3 cryptocurrencies to avoid trading next week appeared first on Finbold .

The post Google Bard Gives Us His Prediction For June Solana, Tradecurve And XRP appeared first on Coinpedia Fintech News Cryptocurrency investors and enthusiasts constantly seek insights and predictions to navigate the market effectively. Recently, the emergence of Google Bard, an AI-based chatbot, has piqued the interest of many. While it is crucial to approach forecasts cautiously, Google Bard offers a unique perspective that can contribute to understanding market trends. Let’s tap into Google Bard’s …

Bitcoin edged marginally higher on Friday, as traders began to shift their attention to next week’s Fed meeting. Many are expecting that the Federal Reserve will keep rates unchanged for the first time in over a year. Ethereum remains above a floor at $1,830. Bitcoin Bitcoin (BTC) moved marginally higher during Friday’s session, as the

On-chain data shows that Tether (USDT) sharks and whales have been rapidly growing their holdings since Bitcoin’s volatility started. Tether Sharks & Whales Grow Holdings As USDT Exchange Supply Plunges According to data from the on-chain analytics firm Santiment, these large Tether holders are now carrying a total of $16 billion worth of the stablecoin. The relevant indicator here is the “USDT Supply Distribution,” which tells us how the Tether supply is distributed among the various holder groups in the market currently. Investors or addresses are divided into these holder groups based on the total number of coins that they are holding right now. In the context of the current discussion, the key “shark” and “whale” cohorts are of interest, the combined coin range of which can be defined as $100,000-$10 million. Naturally, this holder group would include all addresses on the blockchain that are carrying at least $100,000 and at most $10 million worth of USDT in their balances. Now, here is a chart that shows the trend in the Tether Supply Distribution specifically for the sharks and whales over the last six months: The value of the metric seems to have sharply gone up in recent days | Source: Santiment on Twitter As displayed in the above graph, the Tether addresses holding between $100,000-$10 million have seen their combined supply shoot up recently. Interestingly, this rise has coincided with Bitcoin observing some high volatility due to Binance being sued by the SEC over alleged fraud. Generally, investors use stablecoins like USDT whenever they want to exit volatile coins like BTC. Thus, investors exchanging their assets for stables can be a sign of selling. It’s possible that the latest rise in the supply of sharks and whales has come because of these humongous holders ditching cryptocurrencies like Bitcoin in these uncertain times. Related Reading: Bitcoin Bearish Signal: Dormant 1,433 BTC Moves After 10+ Years However, usually, whenever holders opt for stablecoins instead of exiting through fiat or other means, it means that they are possibly looking to eventually return back into the volatile markets. When such investors finally feel that the prices are right to step back into the other coins, they shift their USDT into their desired asset, thus providing buying pressure on its price. Because of this reason, the stablecoin supply may be looked at as the available buying power for assets like Bitcoin. As the sharks and whales have loaded up on Tether and have taken their supply to a new all-time high of $16 billion, the potential dry powder for BTC has also gone up. It’s unknown when these humongous holders may finally shift back into the cryptocurrency, but when they do, it’s probable that its price would feel a bullish boost. Related Reading: Bitcoin Bollinger Bands Herald Higher Volatility, What’s Next For BTC? The data for the exchange supply (that is, the amount sitting in exchange wallets) of Tether is also shown as rising in the chart. It looks like this metric has gone up while the sharks and whales have been buying, implying that the coins exiting from these platforms are being picked up by these cohorts. BTC Price At the time of writing, Bitcoin is trading around $26,600, down 2% in the last week. Looks like the value of the asset has been moving sideways recently | Source: BTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, Santiment.net

Cardano (ADA) has emerged as one of the most promising projects in recent years, with its fast-growing decentralized finance (DeFi)

China’s e-commerce behemoth, Alibaba Group, is gearing up to break new ground in the online retail sector. Its international trading arm, AliExpress, is all set to release 5,555 Non-Fungible Tokens (NFTs) on June 25. This landmark initiative is made possible…

Lawmakers in the U.S. are addressing concerns surrounding artificial intelligence (AI) through the introduction of two bipartisan bills aimed at transparency and innovation. The first bill, introduced on June 8, is spearheaded by Democratic Senator Gary Peters, along with Republican Senators Mike Braun and James Lankford. It focuses on ensuring transparency in the government’s use ... Read more

Ankr has announced the release of its Enterprise RPC Service and AppChain Solutions on Microsoft’s Azure Marketplace. The announcement expands on the partnership between companies reported in February 2023. Initially limited to the RPC Service, the partnership has expanded to include another Ankr service. Many companies continue to line up to sign up for the …

Gary Gensler is stepping up his language amid a wider crackdown on the crypto industry which intensified last week with a pair of fresh lawsuits.

The latest price moves in bitcoin (BTC) and crypto markets in context for June 8, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

HIVE Blockchain Technologies ( TSXV: HIVE:CA ) said on Friday that it produced 304.6 bitcoins in May, representing an average of 92.4 bitcoins per Exahash. The average hashrate stood at 3.30 EH/s for the month. The company produced an average of 9.8 bitcoins per day in May. The company's current BTC HODL balance is ~1,950 as at June 1. HIVE Blockchain ended the month with 3.32 EH/s of mining capacity. HIVE shares were trading +2.94% pre-market. Source: Press Release

Istanbul Blockchain Week, the premier event of web3 and digital assets in the Eurasia region, will be inviting the world

The crypto influencer Ben Armstrong, who has faced a vast amount of backlash over the past few weeks for joining BEN Coin (BEN), was recently interviewed by Altcoin Daily. In the interview, he shared his enthusiasm for BEN, which has been labeled by many as a scam project. The controversial influencer also explained the project’s The post Influencer Predicts BEN Coin Will Reach the Top 20 Crypto List Soon appeared first on Coin Edition .

Amid the turmoil unfolding in the cryptocurrency industry, OKX, one of the top global crypto exchanges, is seizing the moment to snatch the limelight from Binance, which currently grapples with legal entanglements involving the U.S. Securities and Exchange Commission (SEC). While Binance finds itself under intense scrutiny, OKX is thriving, grabbing the attention of the ... Read more

Shares of cryptocurrency miner Hut 8 Mining Corp. (NASDAQ:HUT) have surged nearly 140% so far this year as a rising tide in the broader crypto spac...

Join CCData as we explore the latest trends in the digital asset industry through our market-leading data solutions and insights . In this week’s Market Spotlight blog, we examine the ongoing U.S. debt ceiling crisis and its impact on the digital asset market, alongside the recent turbulence surrounding Binance and Coinbase following the SEC lawsuit. We also explore the latest trends in the digital asset market, including the narrative surrounding AI tokens, which have exploded in popularity since the launch of ChatGPT — recording an average return of 236% YTD. On the topic of AI, CCData’s market-leading data solutions are now available via our ChatGPT plugin. Learn more here . State of the Market: The primary focus in June has been the debt ceiling issue, which, if unresolved, could have had severe implications for the crypto markets. In the worst-case scenario, a U.S. government default on June 6th would have disrupted popular fiat-backed stablecoins like Tether and Circle, affecting the market’s primary forms of collateral. Tether, the leading stablecoin with a market capitalisation of $129.2 billion and a dominant share of 64.4% within the stablecoin market, held over $53.04 billion in U.S. Treasury Bills as of June 1st. In contrast, Circle, another prominent player in the stablecoin market with a market capitalisation of $28.6 billion and 22.2% market dominance, recently made a strategic decision to divest all of their U.S. Treasury Bills, which amounted to over $30 billion in their April attestation, in response to concerns about a potential government default. The Circle Reserve Fund opted to replace them with overnight repurchase agreements in order to reduce the risk associated with default. If the debt ceiling remained unchanged and the government defaulted, Treasury Bill yields would be reduced to zero as the U.S. would be unable to service its debt. This would have a significant impact on fiat-backed stablecoins like Tether, which heavily rely on Treasury Bills as their backing. Moreover, the anticipated volatility in traditional markets, driven by tail-risks and high correlations across global markets, would likely spill over into the crypto market in the event of a U.S. government default. Fortunately, a recent bipartisan agreement has allowed the U.S. to postpone the debt ceiling issue until January 2025. https://medium.com/media/aac0314ddbb6ef26a1551fd2e825b1e1/href With the debt ceiling crisis resolved, attention now turns to the upcoming FOMC meeting on June 13–14, where the Federal Reserve will decide on interest rates. Market expectations, according to CME’s FedWatch, currently assigns a 77.1% probability of a rate pause. This would mark the first pause in the current cycle after ten consecutive hikes. However, uncertainty exists due to recent positive unemployment figures and the upcoming Consumer Price Index (CPI) reading, which could sway policymakers if inflation exceeds expectations. https://medium.com/media/4439a7320fcf53ac3f5dd48055f89079/href Further afield, the introduction of new legislation in Hong Kong and other jurisdictions is expected to encourage the migration of jobs and investments in the crypto sphere away from the U.S., towards areas with comprehensive regulatory frameworks. These actions will provide much-needed regulatory clarity, attracting further investment and fostering the entry of institutional players into the crypto market. Since the beginning of June, the crypto market has remained rangebound, despite recent significant news events such as NVDA’s exceptional earnings release and the SEC’s legal challenge against Binance and Coinbase. Bitcoin’s monthly range has been confined within an 8% price band, leading to frustration amongst participants on both sides of the trade thus far. https://medium.com/media/ba911eb945000d6b041d909537e2f8c7/href Exchange Analysis: SEC vs Binance Despite the ongoing regulatory scrutiny imposed by the US on the cryptocurrency market, the recent lawsuit against Binance has caught many market participants off guard. Filed on Monday the 5th, the lawsuit targeted both BinanceUS and its founder CZ, accusing them of violating federal laws. Allegations include the offering of unregistered securities such as BNB and BUSD, as well as concealing the involvement of US citizens on Binance.com. Additionally, the lawsuit claims that several tokens, including SOL, ADA, and MATIC, are operating as unregistered securities. Although not entirely unexpected, the lawsuit’s timing has intensified worries and contributed to a ripple of panic among investors. https://medium.com/media/36303d5caa5545de30ffa6cde19682be/href The incident has raised some crucial questions. The first is its implications for the broader cryptocurrency market, particularly considering the SEC’s extended reach and their subsequent announcement of a lawsuit against Coinbase. As a result of this news, the price of Bitcoin experienced a temporary retracement to around $25,300, although it quickly recovered to its previous levels. The sudden drop had a significant impact on numerous traders, leading to a sharp reduction in open interest from previous levels of $10.8 billion to the current levels of $9.90 billion (as of the 6th of May). https://medium.com/media/f65be26fff425a605298d9aeb9a12883/href The second question is about the solvency of Binance, specifically regarding the safety of customer funds. This question has prompted many users to withdraw funds from the exchange resulting in Binance witnessing its largest outflows of stablecoins since the start of the year. Despite the major outflows, liquidity hasn’t seen a major decrease which suggests the exchange’s operations haven’t been severely affected (as of the 5th of June). https://medium.com/media/703e4747defed02b3d014f57f1d5f05d/href https://medium.com/media/5126244698f34bdea2083d1b2c1f8734/href The third question surrounds the future of Binance in the US and the broader future of crypto in the country, which appears to be under threat. Recent developments include the SEC’s pursuit of a temporary restraining order aimed at freezing BinanceUS assets, which adds to the uncertainty surrounding Binance’s ability to operate in the US going forward. https://medium.com/media/ae6e5bc23cf1edf92716f744617f5ff4/href Asset Focus: The AI Boom The launch of ChatGPT and the narrative surrounding AI have caused AI tokens to outperform expectations, recording an average of 236% returns YTD (as of June 7th), fueled by NVIDIA’s impressive outputs and their latest earnings report. https://medium.com/media/80838da5906c2434284a68dd90fd586d/href Following the AI-based basket, we highlight the Liquid Staking Derivatives (LSDs) basket, capitalising on the staking narrative and the momentum generated by Ethereum and its recent upgrade. LDO, FRAX, and RPL led this category, with aggregate returns of 89.9% YTD. Interestingly, the proportion of Staked ETH (stETH) to ETH has continued to increase following the Shappella upgrade, with LSDs being the main benefactor of this trend. Ranked third, we observe a strong YTD performance within the Memecoin basket, riding the wave of PEPE’s incredible rally which drove the recent surge in DEX trading volumes. Traders flocked to decentralised trading venues to take advantage of volatile market conditions amongst the lower market cap tokens, driving activity away from most centralised exchanges. As a result, the memecoin basket has recorded a strong YTD performance of 50.1%. Additionally, Layer 2s performed better than Layer 1s, recording a YTD return of 46.6% compared to 43.8%. Layer 2s have been extremely relevant this year, with the release of Arbitrum’s long-awaited token, and the saturation of Layer 1s. In conclusion, despite regulatory scrutiny in the US, a worrying economic backdrop and fiat on-ramp challenges, it is evident that crypto assets, driven by compelling narratives, continue to garner the attention of investors. Certain baskets, whether classified as securities or not, have demonstrated their appeal and potential for substantial returns. The market’s resilience and the ongoing interest in these asset categories, in spite of the negative news flow, signals a positive outlook for their continued growth and adoption. In case you missed it, CryptoCompare is proud to announce the expansion of its data, index and research solutions under a new brand, CCData! You can now find all of our blogs, charts and research reports at CCData.io . Want to access the data used in this blog? Our data solutions provide crucial real-time information necessary for tracking market movements, complete with tick-level trade history across all covered instruments and markets, at the highest granularity provided by each exchange. Learn more about CCData’s market-leading digital asset data below. CCData | Leading Digital Asset Data & Index Provider Market Spotlight: The Debt Ceiling Alarm, Binance’s Lawsuit and Asset Basket Winners was originally published in CCData on Medium, where people are continuing the conversation by highlighting and responding to this story.

Podgorica, Montenegro, June 9th, 2023, Chainwire At EDCON 2023 in Montenegro, the Ethereum Reserve Dollar (“ERD”) team introduced their innovative decentralized lending platform and USDE stablecoin to the industry. ERD is a lending platform that allows users to borrow USDE, a USD-pegged stablecoin native to the platform, using liquid staking derivatives (LSDs) and blue-chip DeFi tokens as collateral. The protocol maintains a minimum collateralization ratio of 110%, striking a balance between decentralization, capital efficiency, and price stability. In the fast-paced world of blockchain and cryptocurrencies, the demand for fully decentralized stablecoins is growing. The challenge has been to simultaneously achieve capital efficiency, price stability, and decentralization, a combination that has proven difficult to achieve. Numerous attempts have been made to create stablecoins that are both decentralized and capital efficient. However, these efforts often led to significant price fluctuations, causing depegging and collapse. The industry has thus been left with a choice between capital efficiency and decentralization, with price stability being a crucial requirement for any stablecoin's survival and expansion. Ethereum Reserve Dollar is designed to address these challenges. ERD is fully decentralized, providing a safer solution to the dominant centralized and semi-centralized stablecoins in the market. It employs a fully decentralized lending protocol and a robust liquidation mechanism, enabling users to borrow USDE using LSDs and blue-chip DeFi tokens as collateral. The platform secures loans with a Stability Pool containing USDE, which allows for immediate liquidation and bypasses the need for liquidators to prepare USDE or engage in a complex auction process. Furthermore, the protocol's design allows users to borrow at only a 110% collateralization ratio, achieving an ideal combination of decentralization, capital efficiency, and price stability. Notably, ERD also aims to provide greater value as a governance token and introduce widely distributed decentralized assets on the ETH network, addressing limitations observed in similar protocols, such as those of the Liquity Protocol. “Looking back at the collapses of so many failed stablecoins, and the depegging of USDT in 2022 and USDC in 2023, the industry is still searching for a truly decentralized, capital-efficient, and robust solution," said Steve Hopkins, ERD’s CMO. “ERD is this and so much more; it's a solution designed to become a truly decentralized reserve asset on the Ethereum network. We believe ERD offers a significant step forward in blockchain and DeFi technology. We’re thrilled to share it with the world. ” The ERD team will launch their testnet event on June 12, 2023. This event will offer the opportunity to experience the platform's unique features and benefits firsthand, while also entitling early adopters to share in the upside of the project’s growth. The ERD Protocol is set to redefine the stablecoin landscape. With its unique features and benefits, it offers a promising solution for efficient and decentralized lending. The team encourages everyone to participate in the upcoming testnet event and experience the future of DeFi. For more information about the ERD Protocol and its upcoming testnet event, please visit the official website at https://erd.xyz/ and follow the project on Twitter at @Ethereum_ERD. About ERD ERD is a decentralized lending protocol that enables users to borrow in USDE, a stablecoin pegged to the US dollar, using LSDs and blue-chip DeFi tokens as collateral. It aims to address the dominance of centralized stablecoins and offer a truly decentralized, capital-efficient alternative. The protocol offers a minimum collateralization ratio of 110% and secures loans with a stable pool containing USDE and other Ethereum-based assets. The benefits of ERD include low-interest rates, high capital efficiency, direct redemptions, and decentralization. Its goal is to become a truly decentralized reserve asset on the Ethereum network. Long live Ethereum Reserve Dollar. On Ethereum, By Ethereum, For Ethereum. For more information and to stay updated please visit: Official website | Twitter | Discord | Whitepaper | GitHub ContactCMOSteve HopkinsEthereum Reserve Dollarethereum.erd@gmail.com

The post Prepare For A Crypto Shakeup: SEC Crackdown, CPI Data, Fed Interest Rates Upcoming appeared first on Coinpedia Fintech News After experiencing a tumultuous trading week due to the U.S. Securities and Exchange Commission (SEC) charging Coinbase Global Inc. (NASDAQ: COIN) and Binance Labs with listing unregistered securities, crypto traders should prepare themselves for more volatility in the coming week. Several high-impact news events are set to fuel market fluctuations. Among the notable events scheduled …

Podgorica, Montenegro, June 9th, 2023, Chainwire At EDCON 2023 in Montenegro, the Ethereum Reserve Dollar (“ERD”) team introduced their innovative