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Coinbase Partners Blackrock to Offer Institutional Clients Exposure to Bitcoin (BTC), COIN Up 40%  

Mark Brennan
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Coinbase Partners Blackrock to Offer Institutional Clients Exposure to Bitcoin (BTC), COIN Up 40%  

 

Coinbase is teaming up with the world’s largest asset managers to offer institutional clients access to cryptocurrencies. 


 

San Francisco-based cryptocurrency exchange Coinbase has announced that it is partnering with the world’s largest asset manager, Blackrock. 

Details About the Offering

The partnership will provide institutional clients of Blackrock’s investment platform, Aladdin, with direct exposure to crypto assets. 

Notably, the partners have chosen to start with Bitcoin, the world’s largest cryptocurrency, which will be offered via connectivity with Coinbase Prime. 

According to the announcement, Coinbase Prime will be used to provide Aladdin’s institutional clients with access to cryptocurrency trading, brokerage, reporting capabilities, as well as custody. 

In addition, the partners noted that they would be rolling out important features and functionality to clients in phases. It is noteworthy that the service will be available to institutional clients contracted with both Aladdin and Coinbase. 

Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock, said Aladdin institutional clients had recently shown a massive interest in cryptocurrencies. 

These investors have been focused on effectively managing the operational life cycle of the asset class, Chalom said. 

“This connectivity with Aladdin will allow clients to manage their bitcoin exposure directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes,” he added. 

A joint statement was issued by Brett Tejpaul, Head of Coinbase Institutional, and Greg Tusar, Vice President, Institutional Product, stating the significance of the partnership to the San Francisco-based cryptocurrency exchange: 

“The Coinbase partnership between BlackRock and Aladdin is an exciting milestone for our firm. As the trusted partner enabling institutions to participate and transact in the crypto economy, we are committed to pushing the industry forward and creating new access points as institutional crypto adoption continues to accelerate rapidly.” 

Coinbase Stock Spikes Over 40%

Interestingly, the development positively impacted Coinbase stock, COIN. Moments after the announcement, the asset class soared over 40% to $116. 

Ripple General Counsel Slams SEC Regulatory Approach Urges Industry To “Lock Arms To Defend This Overreach”

Mark Brennan
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Ripple General Counsel Slams SEC Regulatory Approach Urges Industry To “Lock Arms To Defend This Overreach”

 

Ripple’s General Counsel Urges Crypto Enthusiasts to Fight Against the SEC’s Regulatory “Overreach.”


Stuart Alderoty, Ripple’s General Counsel, has again slammed the Securities and Exchange Commission (SEC) for its quest to control the entire crypto market.

The General Counsel at Ripple was angered by a comment made by the SEC during the LBRY lawsuit. The SEC said: “Even if a fraction of people buy a token for investment purposes, you’re in securities land.” 

Alderoty faulted the SEC for making such comments, saying: “Does every jeweler now book a one-way ticket to ‘securities land’ because a ‘fraction’ of their customers are ‘investing’ in the oldest commodity – gold?!” 

Alderoty: SEC Relegating CFTC to the Kid’s Table

He blasted the SEC for continuously adopting the regulation by enforcement strategy in its effort to seize control of the entire crypto market. 

According to the Ripple Counsel, the unfair strategy adopted by the SEC has helped the agency to relegate the Commodities Futures Trading Commission (CFTC) to the “kid’s table.” 

Alderoty said the SEC is abusing its privilege as a government agency by constantly attacking projects with varying resources in a bid to expand its jurisdiction beyond securities. 

The Securities and Exchange Commission tries to extend its jurisdiction beyond securities by “telling judges with a straight face that we are the government, so we must be right,” Alderoty added. 

As The Crypto Basic reports, “a new crypto bill authored by Democratic Senator Debbie Stabenow and Republican Senator John Boozman identifies Bitcoin and Ethereum as commodities and places the Commodity Futures Trading Commission (CFTC) in charge of the supervision of both assets.”

Alderoty further said that the crypto industry should work together to defend itself against SEC.

“Time for the industry to lock arms and defend this overreach together.”

Ripple’s General Counsel concluded by making a clarion call to crypto-related enthusiasts to join forces together to “defend the SEC’s overreach.” 

Attorney James K. Filan, a former federal prosecutor, also shared the development on Twitter. 

SEC’s Effort to Control the Entire Crypto Market

Meanwhile, the SEC has come under heavy scrutiny for trying to take control of the entire cryptocurrency market. Aside from Bitcoin (BTC), the SEC considers other cryptocurrencies as securities and has already started clamping down on several digital currencies. 

In December 2020, the SEC charged Ripple and two of its executives, Brad Garlinghouse and Chris Larsen, for allegedly offering unregistered securities. 

While many expected Ripple to settle with the SEC, the blockchain company chose to proceed with the lawsuit to push for clearer crypto regulation. 

The lawsuit has been ongoing for more than a year, with investors hoping that the case will be concluded on or before March 31, 2023. Alderoty considers Ripple lawsuit a rug pull on XRP investors. 

Swiss Wealth Manager Pictet Claims Crypto Has No Future in Private Banking

Mark Brennan
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Swiss Wealth Manager Pictet Claims Crypto Has No Future in Private Banking

 

According to Pictet Group, there is currently no place for cryptocurrency in private banking.


Even though a growing number of private banks, such as Julius Baer, LGT, Goldman Sachs, and others, are now offering cryptocurrency to their clients, the Swiss wealth manager Pictet Group thinks that the adoption may be a little too hasty at the moment. As a result, Pictet is now advising investors to avoid purchasing cryptocurrency in light of the current instability in the market.

The CEO of the company, Tee Fong Seng, told Bloomberg:

“Crypto will be an asset class that we cannot ignore, but today, I don’t think there is a place for private bankers and private bank portfolios.”

The private bank official went on to explain that patterns in the cryptocurrency market over the years have demonstrated that investing in digital currencies may provide a significant amount of profits but that they can also quickly drop in value and make investors lose a substantial amount of money.

“If you look at the volatility for the last two years, you can make a lot of money; you can lose a lot of money. The question is, when do we bring the clients into the picture?”

Since reaching their all-time high in November of 2021, the value of the cryptocurrency markets has dropped by two trillion dollars. This steep decline can be attributed to several high-profile failures of digital assets and associated businesses, such as the hedge fund Three Arrows, the infamous crash of Terra LUNA/TerraUSD, and the downfall of cryptocurrency lender Celsius Network.

However, some venture capital firms and financial institutions are increasingly interested in investing in digital currencies. However, cryptocurrency continues to be an asset with high volatility for making a long-term bet on virtual assets.

Tron CEO Plans to Donate Forked ETH Tokens to Ethereum Developers If Hard Fork Succeeds

Mark Brennan
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Tron CEO Plans to Donate Forked ETH Tokens to Ethereum Developers If Hard Fork Succeeds

 

Over a million Ether (ETH) is in Poloniex’s possession, CEO Justin Sun said, and shared the company’s plans with it.


 

On August 4th, Ambassador and Cryptographer Justin Sun announced on Twitter that his crypto exchange, Poloniex, presently has more than one million Ethereum (ETH) in its possession.

If the Ethereum hard fork is successful, Sun said that Poloniex would provide part of the forked ETHW to the ETHW community as well as to developers working on the Ethereum ecosystem.

The cryptocurrency exchange Poloniex announced on its blog that it would support any prospective Ethereum hard fork coins. The exchange has indicated that it would provide complete backing for the ETH upgrade as well as any future hard forks that may occur.

Poloniex further stated that it would initially list two potential hard forked tokens known as ETHS (representing Proof-of-Stake ETH) and ETHW (representing Proof-of-Work ETH) and that it would allow customers to exchange them for ETH at a ratio of 1:1 and vice versa prior to the Merge.

The rate of exchange will be the same for both ETHW/ETH and ETHS/ETH. In the future, the exchange said it might add more trading pairs. ETHS and ETHW will only exist on Poloniex. Users won’t be able to deposit or withdraw to wallets outside of Poloniex.

In related developments, Poloniex announced two days ago that they would be launching a new trading system that will be faster, more stable, and easier to use for retail and professional users worldwide.

Poloniex has improved its system’s order, matching speed, and the number of transactions that can be completed in a second by at least 10x and 30x, respectively, thanks to its next-generation matching engine.

After the launch, Poloniex said it’s going to keep improving performance. Also, the new API has been redesigned to make it run faster and have more features.

Analyst Predict Bitcoin Bottom May Occur in The Last Quarter of 2022 As Accumulation Continues Throughout Year

Albert Brown
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Analyst Predict Bitcoin Bottom May Occur in The Last Quarter of 2022 As Accumulation Continues Throughout Year

 

It’s Possible That Bitcoin Will Hit Bottom in the Fourth Quarter of 2022.



A crypto trader and analyst by the name of Rekt Capital came to Twitter to convey his prediction that Bitcoin (BTC) will most likely bottom during the fourth quarter of 2022. As signs, he pointed to previous important historical metrics.

According to his post, Bitcoin hit the lowest level of support 547 days before the Halving in 2015. Another low was reached by BTC in 2018, 517 days before the Halving (discounting the fall in March 2020). He went on to say that if Bitcoin is going to bottom 517-547 days before the forthcoming April 2024 Halving, then the price will bottom in the fourth quarter of this year.

 

Bitcoin has seen a loss of 2% in value during the last twenty-four hours, and it is now trading at $22,868 at the time of this writing. 

Bitcoin Accumulation Rate Spikes As Balance on Exchanges See a Macro Decline

In related interesting developments, crypto expert Lark Davis pointed out that the pace of accumulation of Bitcoin has been growing throughout the year, despite its price going down.

On-chain data reveals that Bitcoin (BTC) is firmly entrenched in the accumulation stage, as whales are making it abundantly clear that it is now once again the time to resume stockpiling the leading cryptocurrency. This is a positive indicator of Bitcoin’s success in the long-term run and highlights the robust demand that exists at lower price levels.

 

Davis also shared that the amount of Bitcoin balance on exchanges is decreasing as well. On-chain metrics show that the overall value of Bitcoin on cryptocurrency exchanges has continued to see a broad decrease. The total amount has reached 2.4 million BTC, which is about 12.6 percent of the total quantity now in circulation.

 

Ethereum Founder Vitalik Buterin Just Dumped 25 Trillion Sh.t Tokens On Uniswap

Mark Brennan
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Ethereum Founder Vitalik Buterin Just Dumped 25 Trillion Sh.t Tokens On Uniswap

 

 

Vitalik Buterin has dumped 25 trillion SH.T (name of coin) for just $33k on Uniswap.



It appears that Ethereum founder, Vitalik Buterin, isn’t interested in low-performance coins. Some time ago, he received a huge stash of Shiba Inu tokens from the coin’s creator. Vitalik went ahead to burn 90% of them, worth around $6 billion. Now, he just sold off a whole stash of 25 trillion SH.T coins worth just $33k.

Peck Shield Alert caught that Vitalik ETH address sold 25T of Sh.t coins on Uniswap for $33k.

Buterin Received 25 Trillion Coins And Dumped Them All

Apparently, Vitalik received the 25 trillion coins as an airdrop about two months ago. The sell-off could trigger a price crash for the coin as it appears to be a pretty pessimistic dump.

His move could also be a veiled point of view with regard to his recent utterance that scammers in the blockchain industry should be called out. it’s clear that Vitalik Buterin doesn’t like to keep stashes of worthless sh.t coins – especially those with funny names.

ADA Handle Partners Cardano Explorer to Aid Easy Understanding of Network Data 

Lele Jima
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ADA Handle Partners Cardano Explorer to Aid Easy Understanding of Network Data 

 

The duo wants to make blockchain data comprehension easy for everyone.



ADA Handle has announced that it has partnered with Cardano’s leading blockchain explorer, Cardano Explorer, to enable end users to easily comprehend data on the platform. 

According to a recent announcement, ADA Handle intends to humanize users’ experience of navigating data on the Cardano blockchain. 

“ADA Handle […] is very proud to extend the functionality of the Cexplorer protocol by making it even easier for the end user to parse through data on the Cardano blockchain by being able to utilize the Handle lookup standard,” the company noted. 

ADA Handle also shared the development on Twitter yesterday, saying: 

“As the Cardano blockchain continues to grow, so does the information and data underlying the network. We are working to bring the Handle Standard to @cexplorer_io to make it easier to parse through data.” 

ADA Handle to Solve Blockchain Data Complexity

One of the reasons why the growth of crypto adoption has not skyrocketed more than its current record is due to a lack of comprehension of blockchain data.  

Prospective investors mostly find it difficult to translate blockchain data. This lack of understanding has continued to mitigate the number of new investors entering the cryptocurrency space. 

ADA Handle wants to proffer a solution to the issue via its partnership with Cardano Explorer. The partnership will contribute to making the Cardano network friendlier for users compared to rival projects, ADA Handle noted. 

Cardano Explorer is a leading data analytics platform that allows Cardano users to understand the information underlying the network. Some of the information contained on the Cardano Explorer platform includes Transactions, Pools, Pool Operators, Epoch Rewards, Stakes, etc. 

While Cardano Explorer has been delivering digestible, complex information via its dashboard, ADA Handle noted that it intends to extend the data analytics platform functionality. ADA Handle is an NFT-powered naming solution for investors and developers’ that transforms Cardano addresses into a human-readable format. 

So far, a total of 132,185 addresses have been customized by ADA Handle. Since its launch, ADA Handle has partnered with top Cardano projects, including Nami Wallet, SundaeSwap, World Mobile, etc. 

Bridge Linking Cardano And Cosmos Coming In A Push Towards Interoperability

Mark Brennan
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Bridge Linking Cardano And Cosmos Coming In A Push Towards Interoperability

 

Cardano will soon be connected to Cosmos.


On Wednesday, a tweet from Cardano Daily, a dedicated Twitter handle for Cardano news, reveals that Cardano will soon have a bridge with Cosmos.

“Coincidentally, I have mentioned in a tweet that Cardano needs a bridge to another ecosystem, and the cosmos – Cardano bridge supported by Sifchain was released right after,” Cardano Daily tweeted.

Sifchain, Omni-Chain Dex on Cosmo providing Swapping, staking, and bridging between Ethereum & Cosmos responded quickly to launch a proposal for voting to proceed on Cosmos Cardano Bridge.

 

Notably, the bridge will give both chains access to new liquidity markets and token-based economies while allowing Cardano users access to an ecosystem of blockchains, dApps, assets, and utilities through Cosmos, popularly called the “internet of blockchains.” The Cosmos ecosystem currently boasts $4.2 billion in staked crypto assets, $200 million in monthly cross-chain transactions, 40 chains, and thousands of dApps.

However, it is worth noting that the bridge has not been well received by several members of the Cardano community who feel it is poorly timed. One user noted that it is too early to focus on interoperability as it could not be determined which chains would thrive in the long run, saying that the focus now should be on security, scalability, and governance.

It is not surprising that the Cardano community is skeptical about the launch of a bridge, as network bridges are often targeted by hackers leading to several users losing their assets. The Ronin bridge hack in March is a clear example, as hackers made away with over $550 million in Ethereum and USDC.

It is worth noting that the Cardano community is currently focused on the long-anticipated Vasil hard fork, which was expected in July but had to be delayed after new bugs were observed in testing. Notably, Input Output Global (IOG) chief Charles Hoskinson has assured users that he does not expect further delays, noting that developers are in the final stages of testing.

The upgrade is expected in a matter of weeks and promises to improve the network’s scalability and usher in over 1000 dApps. At the time of writing, Cardano’s native token ADA is trading at the $0.5051 price point, with a positive 0.04% change in price in the last 24 hours and 0.84% change in the last seven days.

NOWNodes To List Shiba Inu’s Ecosystem Token BONE As It Approaches $1

Zabi
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NOWNodes To List Shiba Inu’s Ecosystem Token BONE As It Approaches $1

 

NOWNodes to List Shiba Inu’s Governance Token, Bone ShibaSwap (BONE), as the Value of BONE Increases Almost 60% Over the Past Week.



Bone ShibaSwap (BONE) has posted a staggering growth of almost 60% in value in the past seven days, approaching the $1 mark. As a result, NOWNodes decides to add support for BONE.

The Coinbase data reports that the value of BONE increased nearly 60% over the past week and is now a few cents away from hitting the psychological $1 mark. At the time of writing, BONE is trading at the price of $0.84.

BONE
BONE

The governance token of ShibaSwap Ecosystem, BONE, surged more than 20% over the last day as NOWNodes, a blockchain-as-a-service solution that lets users get access to full Nodes and blockbook Explorers via API, recently announced that it would list BONE.

Belize-based NOWNodes is a blockchain-as-a-service solution provider company that offers simple, fast, and secure access to 40+ blockchain networks, including BTC, ETH, and BSC, with over 1000 coins and tokens via API. The blockchain node provider company guarantees 99.95% API uptime for over 40 blockchain networks, enabling clients to enjoy the scalability for large tasks like 200,000 transactions per second and a fast API response time of 0.600 seconds.

While posting a staggering growth of almost 60% in value, BONE makes its way to become one of the best-performing currencies for the week.

Cardano On-Chain Data Shows Network Growth, With Distinct Minting Policies Crossing 58K

Lele Jima
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0
Cardano On-Chain Data Shows Network Growth, With Distinct Minting Policies Crossing 58K

 

Cardano recorded slight growth in various segments of the project last month. 


According to on-chain data shared by the Cardano Foundation, a total of 58,993 (58.9K) distinct minting policies have been recorded on the Cardano network. This represents an increase of 3.5% from the previous month’s record. 

A Cardano policy is a script used to set certain parameters, such as who has the authority to mint tokens on the blockchain and the duration it will take to mint the tokens.

The leading blockchain project also recorded strong growth in the number of on-chain transactions. Per the data, on-chain transactions rose 4.9% to a whopping 47 million. 

With Cardano ranked among the top blockchain projects in terms of security, huge amounts of native assets have been launched on the network. 

The Cardano Foundation data shows that a total of 5.7 million native digital assets have been issued on Cardano, which represents a 6.34% growth compared to the previous month’s record. 

Furthermore, the number of Cardano wallets increased slightly by 2.27% in the past month, bringing the total number to 3.5 million. In the same vein, the number of Cardano’s delegated wallets is slightly up 0.34% to 1.17 million. 

Cardano’s Plutus script surged 4.76% in July compared to the previous month’s record. By the end of July 2022, a total of 2,993 plutus scripts were recorded on the Cardano network. 

Cardano Records Steady Network Growth

It is gradually becoming a routine for Cardano to record strong growth across various parts of the network. The spike in Cardano’s monthly on-chain stats suggests a growing adoption of the blockchain. 

Cardano exposes its users to a lot of exciting features, including fast and low-cost transactions, as well as maximum security. 

The team responsible for Cardano’s research and development, Input Output Global (IOG), is always committing efforts to development activities and securing Cardano users and blockchain.

It is worth noting that since Cardano launched in 2017, the network has not experienced any downtime compared to other proof-of-stake chains, including Ethereum and solana.  

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