China News by Thebittimes.Com

The BRICS countries will begin discussions to launch a new settlement currency for global trade and exports. Brazil’s President Luiz Lula da Silva confirmed that the bloc will soon discuss prospects of a new settlement currency. The new currency will be used for cross-border remittances among member nations and will end reliance on the U.S. dollar. The Brazilian President said that the Finance Ministers of member countries will begin discussions about the settlement currency. Also Read: Second BRICS Expansion Soon: South African PM Makes Huge Announcement “We have agreed that our finance ministers will discuss this issue over the coming year to see if we can agree on the creation of an accounting currency for exports by the next meeting,” he said. Therefore, the new BRICS settlement currency could be formed by the next summit in 2024 in Russia. Also, Lula da Silva stressed that the new settlement currency will not go against the U.S. dollar. He added that ...

Kaiko, a crypto analytics platform, claims that the largest stablecoin by market cap, USDT, has been depegging in August. A stablecoin depeg s when it trades below the fiat currency or asset it’s meant to mirror. USDT has been depeg ging all month. Why hasn't anyone noticed? In this week's Deep Dive we propose a novel method of rating stablecoin depeg s, check it out below ️https://t.co/o8LuiTMSqW — Kaiko (@KaikoData) August 31, 2023 Kaiko data shows that on Aug. 7 at 8 am UTC, USDT hit a 98% depeg severity, meaning that stablecoin traded at a discount on almost every platform. However, the depeg didn’t receive much attention since it wasn’t as significant or dramatic as previous events. USDT Depeg Severity in August 2023 | Source: Kaiko Depeg Data Kaiko says the depeg in August follows rapid net selling of USDT worth $500 million across Binance, Huobi, and Uniswap within a few days. Historically, recurring USDT depeg ging has been attributed ...

Author：HSL Source:  https://mp.weixin.qq.com/s/TORCg_mtYtKH675WvX1yyA In the cryptocurrency field, the most significant issues over the long term have been: 1. Scalability. 2. Decentralization. 3. Energy Consumption — essentially, the PoW versus PoS debate. 4. Applicability across diverse scenarios. Notably, Ethereum seems to have made substantial strides in addressing these four fundamental challenges. The official launch of the Arbitrum One mainnet on August 31, 2021, means it has been two years since this date as of today (August 27, 2023). The two-year span of secure operation unequivocally validates that Rollup stands as a proficient method for scaling blockchain networks. Op-Rollup has already successfully elevated Ethereum’s TPS to 100 transactions per second, a figure that could further skyrocket with the upcoming Cancun upgrade, potentially extending to thousands of TPS as zk-rollup technology matures. By strategically distributing transaction security requirements — placing h...

Bill Morgan comments on the recent court rulings that refuted the SEC’s interpretation of crypto assets. The XRP lawyer sheds light on Judge Failla’s acknowledgment of BTC and ETH as commodities. Morgan also highlights Judge Torres’ ruling that decided XRP is not a security, reaffirming his optimistic belief in the SEC-XRP lawsuit. Bill Morgan, a prominent Ripple attorney, has reaffirmed his optimistic outlook on the long-running U.S. Securities and Exchange Commission (SEC)-Ripple legal tussle. Morgan elucidated on the court’s stance against the Securities and Exchange Commission (SEC) in multiple lawsuits, and highlighted the repeated failure of the regulators in their lawsuits against crypto firms, as the court’s obiter turns against “the SEC’s version of cryptos’ nature”. Judge Failla’s version of #Bitcoin and #Ethereum is that they are crypto commodities not digital asset securities. The obiter is building up against the SEC’s version of cryptos’ nature...

Join Our Telegram channel to stay up to date on breaking news coverage A decision on the first of seven applications to launch spot Bitcoin ETFs is due to be made on Thursday by the US Securities and Exchange Commission, which is reeling from Grayscale Investments’ landmark legal win against the watchdog. A decision on Bitwise’s application is due on Sept. 1 with applications by BlackRock, Fidelity, Invesco, VanEck, and Wisdomtree scheduled for a day later. Valkyrie’s application will be decided on Sept. 4. The SEC has been hesitant to approve a spot ETF application because it believe the Bitcoin market is prone to price manipulation. Bitcoin ETF Applications More Likely to Succeed The deadlines comes hard on the heels of Grayscale’s win in its lawsuit against the SEC. Bloomberg ETF analyst James Seyffart says the win increases the chances of a successful outcome for the subsequent applicants. First. They would have to revoke the listing of #Bitcoin...

Almost every ApeCoin (APE) holder is at a loss, as the token is down 96% from April 2022 peaks. Analysts expect even more draw-down in the coming sessions. According to the data from IntoTheBlock, a blockchain analytics platform, 96% of APE holders , representing over 130k addresses, are in red. The decline isn’t solely in prices but extends to its transactional activity. Active wallets are down 61% in the last week alone. Additionally, the daily transaction count has crashed by 43%. One investor who initially bought 93,700 APE for over $2 million, recently liquidated all holdings at $1.51 per coin, realizing a loss of $1.5 million. APE was a trending token last year. Linked to the Bored Ape Yacht Club (BAYC), a popular non-fungible token (NFT) collection, it became a sensation almost overnight. You might also like: BAYC NFT floor price drops 90% from $600,000 in 18 months After launching in March 2022, APE prices rocketed to $26 by April, surging 220% in a month...

Author | Cats Editor | Coin Wu Blocking Process On August 20th, while logging into Opensea to check the NFT market, I found that I couldn’t access my account . It displayed that the account had been banned due to activities violating their terms of service, making it impossible to use Opensea to buy, sell, or transfer. Since I hadn’t used Opensea to purchase NFTs or engage in related activities for several months, I sent an email to Opensea asking for the specific reason for the ban. Opensea’s explanation was that it was in violation of U.S. government-imposed sanctions , and as a U.S. company, Opensea needs to comply with the U.S. sanctions program managed by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department. Possible Reason First, I checked the SDN sanctions list published by OFAC according to Opensea’s statement, and I did not find my name on that list. Then, by reviewing Twitter and my own transaction records, I speculated that the ban might have been ca...

PeckShield Alert tweeted that the US government is behind the first-largest Bitcoin wallet. The wallet holds over $2.46 billion worth of Bitcoin, linked to the 2016 Bitfinex attack. The third-largest Bitcoin wallet is held by an investment platform Robinhood. The US SEC is infamous for cracking down on major crypto exchanges including Binance and Coinbase, as well as fighting a three years-long lawsuit against Ripple, which has cost the company $200 million. However, crypto analytics platform PeckShield Alert’s investigation suggested that the US government might own the world’s fifth-largest Bitcoin wallet. #PeckShieldAlert The 5th largest #Bitcoin wallet, holding 94,643 $BTC (worth ~$2.46B currently), is believed to be under the control of the U.S. Government. The seizure address is directly linked to the 2016 #Bitfinex Hack. On February 1st, 2022, 1CGA4s transferred ~567.5 $BTC… pic.twitter.com/J7ai1vVruK — PeckShieldAlert (@PeckShieldAlert) August ...

Retail traders commonly engage in options trading. In this practice, distinguishing between intrinsic and extrinsic value is a crucial aspect to comprehend. Understanding these two components can help traders better evaluate options contracts and develop effective trading strategies. This article will provide an overview of intrinsic vs. extrinsic value, explain how to calculate them, discuss strategies using intrinsic and extrinsic value, and provide tips for profiting from options trades using these concepts. What is intrinsic and extrinsic value? Every options contract has two components of value – intrinsic value and extrinsic value. Intrinsic value is the amount an option is in-the-money. For call options, it is the amount by which the strike price is below the current market price of the underlying asset. For put options, it is the amount by which the strike price is above the current market price. Intrinsic value represents the minimum value of an option. The amount c...

CoinDesk retracts op-ed articles attacking Tron’s CEO Justin Sun and Chainalysis’ head of investigations. Retraction linked to policy violation against pseudonymous content engaging in personal attacks. Author “L0la L33tz” suggests CoinDesk’s ties to crypto industry influenced the decisions. CoinDesk rarely retracts articles. However, an op-ed written under a pseudonym criticizing Tron’s CEO, Justin Sun, was so far below “standards” that they retracted it. Kevin Reynolds, the editor-in-chief at the crypto news site, noted that while CoinDesk values privacy, it does not shield authors who engage in personal attacks. here's the article; judge for yourself pic.twitter.com/kqotXpwL6c — ⚯ M Cryptadamus ⚯ | @[email protected] (@Cryptadamist) August 27, 2023 The original article compared Sun to Sam Bankman-Fried and Do Kwon, founders of the now-defunct crypto exchange FTX and the embattled Terraform Labs, respectivel...

Author: Bitrace Original link: https://mp.weixin.qq.com/s/dvdKfufRVFGwoKQIKGYL-g In recent times, the Chinese anti-fraud promotional film “ No More Bets ” has gained immense popularity. Within the plot, overseas fraud syndicates employ an attractive female persona to deceitfully involve victims in cryptocurrency Ponzi schemes, ultimately swindling their funds. As this storyline unfolds, along with the concentrated exposure of illicit activities in the Southeast Asian gray market, numerous viewers have found resonance in the narrative. Art derives from life, and cryptocurrency, as a novel vehicle of value and transmission, has been extensively adopted by criminal groups in Southeast Asia. It leaves its mark in activities encompassing online gambling, fraud, and money laundering, among others. Its attributes of anonymity, decentralization, and borderlessness make these illicit activities more covert, enabling swift fund circulation and presenting challenges to law enforcement agencies. F...