Traders Flip Long on Uniswap’s UNI as OKEx News Highlights CEX Risks

Uniswap’s UNI token has been closely tracking Bitcoin and the entire crypto market over the past few days and weeks, but this correlation is beginning to break as it bucks the downtrend seen by BTC over the past 24-hours and rallies higher. One reason behind its slight upswing seen today may be the recent OKEx imbroglio, in which the founder’s arrest by the Chinese authorities effectively froze all the funds on the platform, as it cannot process withdraws without his key. This has led to 200,000 BTC being in limbo,…

Ledger’s recent security audit was unconnected to their data breach in June

Popular hardware wallet company Ledger recently announced that they had passed a notable security evaluation, known as SOC 2 Type 1. This certification came following a significant data breach the company suffered in June. Ledger did not, however, decide to conduct its security audit because of the breach, according to comments from a Ledger representative.  “Ledger is always seeking to raise the security standards and has been working on getting the attestation prior to the data breach,” the representative told Cointelegraph.  News of Ledger’s completed SOC 2 Type 1 audit…

Record-high Bakkt Bitcoin delivery exposes institutional frenzy for BTC

Data from Arcane Research shows Bakkt Bitcoin exchange saw another record-high month from Sept. 20 to Oct. 20. This follows a noticeable rise in institutional demand for Bitcoin (BTC) from public companies in recent months. Bitcoin delivery on Bakkt. Source: ICE, Arcane Research Bakkt, the digital asset payment platform and derivatives exchange, is tailored for institutional investors in the U.S. It is operated by Intercontinental Exchange, the parent company of the New York Stock Exchange. When the volume of the Bakkt Bitcoin futures market increases, which physically settles Bitcoin contracts,…

Despite Short-Term Outlook, Yearn.finance’s (YFI) Macro Prospects are Ultra Bullish

Yearn.finance’s short-term outlook has been grave, with bears being in full control of its price action as buying pressure begins drying up. The cryptocurrency’s recent descent has come about due to a myriad of different factors, including heightened founder risk, a fractured community, as well as the overall downturn in the DeFi sector. Additionally, relatively low rates being provided to liquidity providers has caused the yVaults to see incredibly low usage, which has also struck a blow to the embattled Yearn ecosystem. Analysts are now noting that despite the short-term…

“Be Scared” Going To Bed Without Spot Bitcoin Exposure

Bitcoin’s bull run could very well be here, but with the pandemic and the coming election, there’s so much risk in the air. However, one crypto trader says that they’d be more “scared” going to sleep at night without holding spot BTC at this point, than not. Here’s why the crypto trader claims that it’s a far more frightening nightmare to watch the bull market take off without you than risking a little downside. Investor Nightmare: “Be Scared” To Sleep On The Next Bitcoin Bull Run The run-up in 2017…

The rivalry between central banks and global stablecoins, Oct. 9–16

Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a vast range of parties. However, many countries have determined that Bitcoin doesn’t behave as a currency at all, or at least not a replacement for their own. The nations behind the world’s most-used fiat currencies have in many cases pointed to Bitcoin’s volatility as a critical flaw. They have decided that the rise…

BitMEX’s 3rd Lawsuit in 2020 Doubles Down on Illicit Enrichment, Market Manipulation

HDR Global Trading Limited, the company behind the infamous BitMEX exchange, faces one more lawsuit after being accused of illicit activities by CFTC and DOJ. This time, the plaintiff seeks compensation of $50 million, according to their attorney. Among the defendants are the exchange’s key players, including Arthur Hayes (CEO) and Samuel Reed (co-founder). The plaintiff’s attorney, Pavel Pogodin, already participated in legal action against BitMEX in May 2020. The plaintiff accuses HDR of violating know your customer (KYC) and anti-money laundering (AML) policies, which led to the inflow of…

Germany’s blockchain solution hopes to remedy energy sector limitations

Distributed energy resources, or DERs, have the potential to disrupt traditional electricity markets. Therefore, it shouldn’t come as a surprise that innovative countries are looking toward emerging technologies that will allow DERs to transform entire energy economies. Germany in particular is interested in using DERs to drive its digital energy economy while also complying with the European Green Deal. As such, the Deutsche Energie-Agentur, also known as DENA — the main governmental group responsible for energy innovation in Germany — announced plans to trial a blockchain-based solution to construct a…

Bitcoin’s Taproot is ready to go, but it’s unlikely to be included in the next release

The Bitcoin Improvement Proposals 340 through 342 were merged into the Bitcoin codebase on Thursday, signaling that the anticipated Taproot upgrade is ready. Taproot and the associated technology of Schnorr signatures are considered to be the most important upgrade for Bitcoin in the past year. It is primarily a privacy improvement for complex spending conditions on Bitcoin like multisig transactions, time locks and other conditions based on Bitcoin Script. As Cointelegraph reported previously, Taproot hides every additional spending condition beyond the one that was activated. For example, a transaction might…