• SpankPay, a crypto payment processor, announced that it is shutting down its services due to a hostile banking environment.
• The move was influenced by Wyre’s sudden termination of their agreement with SpankPay in February 2021.
• The company has been trying to find other alternatives but faced rejections due to the adult industry.

Crypto Payment Processor Shutting Down Due To Hostile Banking Environment

SpankPay, a crypto payment processor, recently announced that it is shutting down its services due to a hostile banking environment. The parent firm SpankChain cited the reason for the service closure and blamed Wyre for the sudden termination of their agreement back in February this year.

Wyre Terminated Agreement With Crypto Payment Processor

In its termination notice, Wyre identified SpankPay in its ‘Declined Line of Business Policy.’ Due to Wyre’s handling of its agreement, SpankPay called it a targeted approach. Further, SpankPay mentioned that they have been trying to get other alternative service providers to support their business but faced rejections due to being part of the adult industry. Checkout.com was one of the companies that rejected them.

SpankPay Lamented Hostile Operating Environment

The payment processor lamented how challenging it has been to operate in such an unfriendly banking environment with a small team and niche market. Despite this, the service assured users of safety regarding their funds and are currently working on getting all customers’ funds from them before closing operations completely.

Alternatives For Customers To Manage Personal Finance

They urged customers to opt for digital wallets and explore other possibilities for managing personal finance while they close operations completely soon enough. Furthermore, they plan on developing more projects based on financial infrastructure but do not have any concrete plans as yet since their main focus is still returning user funds safely over these days ahead as they wind down operations gradually..

Conclusion

The shockwaves from these incidents have been felt throughout the cryptocurrency space with certain events like enforcement actions and hacks leading many businesses towards an uncertain future with regard to trustworthiness within the community as well as regulatory uncertainty when dealing with banks or financial institutions in general . Nonetheless , there remain those who seek solutions which can provide better security for assets even within such an unforgiving ecosystem .

Crypto.ro Hosting “The Alliance” Conference

• Summary: Crypto.ro, Romania’s leading cryptocurrency and blockchain media platform, is hosting the highly-anticipated “The Alliance” conference in Timișoara on September 21, 2023. This exclusive event will bring together top professionals to discuss new trends and exciting opportunities in the crypto market.
• Welcome Bonus: Participants can take advantage of a 150% Welcome Bonus plus 100 Free Spins when they make their deposit.
• About The Alliance: Anticipating over 500 attendees, “The Alliance” crypto conference offers a chance to connect with like-minded investors, learn about the latest news, and work alongside prominent figures in the crypto sphere.

Crypto.ro Hosts Prestigious Event

Crypto.ro, Romania’s leading cryptocurrency and blockchain media platform, recently announced it will host the much-awaited “The Alliance” conference on September 21st at Galla Events venue in Timișoara. This prestigious event brings together creative thinkers, industry game changers, driven entrepreneurs, investors, and passionate blockchain fans to talk about the newest trends and exciting opportunities available in the world of crypto.

What Is The Alliance?

“The Alliance” is an essential crypto conference for those who want to meet other investors and discover what’s hot in the crypto market. Alex Numeris – Founder & CEO of Crypto.ro commented that “hosting The Alliance represents a great achievement for our platform as we hope this event could have a positive impact on adoption of cryptocurrencies & blockchain technology both in Europe & globally”.

About The Conference

This one-day event will offer participants a fantastic opportunity to connect with others with similar interests while learning about recent developments within the industry from some of its most influential figures. It’s expected to attract more than 500 people from all around the world! As an added bonus for participating in this Crypto Deal you can get a 150% Welcome Bonus plus 100 Free Spins when you make your deposit today!

About Crypto.ro

Crypto.ro stands as a top destination for up-to-date information regarding cryptocurrencies & blockchain technology offering extensive insights into its users such as market movements & legislative changes but also offers courses including reviews of different exchanges so you can find one that suits your needs best!

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• Bitcoin Estimated Leverage Ratio has recently risen, suggesting a potential increase in volatility for the asset.
• Open interest and estimated leverage ratio are two key metrics that measure how much leverage future market users are taking on average.
• High levels of leverage imply a higher risk of volatile moves, while low levels suggest reduced volatility.

Bitcoin Volatility: Estimated Leverage Ratio Has Risen

The recent surge in the Bitcoin estimated leverage ratio is an indication that the asset might experience some price volatility soon. The open interest metric and the estimated leverage ratio are two important indicators that tell us how much leverage future market users are taking on average.

Open Interest Measurement

The “open interest” is an indicator that measures the total amount of contracts that are currently open on the Bitcoin futures market. This metric accounts for both short and long contracts, giving us an idea about how much risk investors are willing to take on at any given time.

Estimated Leverage Ratio

The “estimated leverage ratio” is another relevant metric which measures the ratio between open interest and total amount of BTC sitting on derivative exchanges. When this value is high, it implies that investors have taken up a significant amount of leverage, suggesting increased price volatility in the near future. Conversely, when it’s low, it signals lower volatility as investors aren’t taking up too much risk right now.

Historical Precedent

Overleveraged markets have generally followed up with increased price volatility while low indicator values imply users aren’t taking on too much risk at all times – resulting in lower prices movements within assets like Bitcoin (BTC). This was recently demonstrated when BTC’s market calmed down after its sharp plunge earlier this month due to overheated futures markets creating more liquidation opportunities in these kind of scenarios.

Conclusion

To conclude, the rise in Bitcoin’s estimated leverage ratio could be signalling an upcoming period of higher asset value volatility for BTC and other cryptocurrency assets – as seen from its historical precedent. Thus investors should remain aware and cautious when trading or investing into such risky markets where liquidations can occur quickly due to huge amounts of borrowed money being used to speculate against asset prices in these kinds of markets

• Binance recently launched its first-ever AI-powered product, Bicasso.
• It is an AI-powered non-fungible token (NFT) generator tool used to create generative art.
• Within two and a half hours of launch, it had already minted 10,000 NFTs.

Introduction

Over the past few months, Artificial Intelligence (AI) has been gaining traction in the tech industry following the massive success of the AI-powered chatbot, ChatGPT. This has led to many other AI-related products or services also becoming popular almost immediately after launch. One such example is Dawn AI which helps to create generative art. Following this trend, leading cryptocurrency exchange Binance has now pushed for the launch of its first ever AI-powered product called Bicasso.

What Is Bicasso?

Launched on March 1st, 2021, Bicasso is a Non Fungible Token (NFT) generator tool powered by Artificial Intelligence that helps users to create customized images based on their inputs or uploaded files. With just a few clicks using this platform users can generate creative visions and turn them into NFTs with ease. The advanced technology allows users to enter creative prompts in English only and watch as their idea comes to life in seconds!

Rapid Success Of Bicasso

Binance CEO Changpeng Zhao also known as ‘CZ’ announced about the new product via Twitter shortly after its launch and within two and a half hours of release it had already managed to mint 10,000 NFTs! CZ was quick to commend this achievement in another tweet noting how quickly their new product had gotten off the ground!

Binance’s Crypto Deal

To celebrate this great milestone of their first ever AI powered product, Binance is offering a 150% Welcome Bonus plus 100 Free Spins on deposits made today! This offer will be available until March 8th 2021 so act fast if you want get your hands on these rewards!

Conclusion

With its rapid success within hours of launch showing that there is still much potential for growth when it comes to Artificial Intelligence products or services; we can only expect more exciting things from Binance’s newest venture – so keep an eye out for more news coming from them soon!

• Israeli Startup Chain Reaction Raises $70 Million to Develop Blockchain Chips
• Morgan Creek Digital Led the Fundraising Round
• The Firm Will Focus on Privacy Applications with Homomorphic Encryption

Israeli Startup Chain Reaction Raises $70 Million for Blockchain Chip Development

Chain Reaction, an Israeli startup, has raised $70 million in a Series C fundraising round to develop blockchain chips. The funding round was led by Morgan Creek Digital and other participants include KCK Capital, Jerusalem Venture Partners, Hanaco Ventures, Blue Run Ventures, Atreides Management, and Exor.

Mission of Chain Reaction

The Tel Aviv-based firm plans to launch its first products before the end of Q1 2023. Its mission is to create blockchain chips that will perform speedily and efficiently when carrying out operations known as ‘hashing’ or mining digital assets such as Bitcoin. Additionally, it will focus on developing processors for encryption technologies related to privacy such as homomorphic encryption which allows users to operate on data without decrypting the chip itself.

What is Homomorphic Encryption?

Homomorphic encryption is a type of data protection and privacy technique which involves end-to-end encryption throughout the entire data usage process. It has been gaining traction in both academic and theoretical circles due to its ability to protect user data from being accessed or misused by third parties.

Benefits of Chain Reaction’s Plan

By creating these blockchain chips with homomorphic encryption technology, users can be sure that their data is protected against malicious actors while still having access to it in order to carry out their activities securely and efficiently. Furthermore, this could also potentially reduce costs associated with processing power needed for mining activities since the newly created chips are designed specifically for this purpose.

Conclusion

Overall, Chain Reaction’s plan provides many benefits especially in terms of protecting user data while allowing them access necessary computing power for cryptocurrency mining activities at a more affordable cost than traditional methods. It remains to be seen just how successful the company’s endeavors prove but it certainly looks promising so far!

• Shiba Inu has dropped 4% in value during the past 24 hours.
• Ethereum whales have shown signs that they are buying this dip.
• Large Ethereum Whales Are Currently Scooping Up Shiba Inu

Shiba Inu Price Drop

Shiba Inu (SHIB) has dropped 4% in value during the past 24 hours, with its price trading at $0.00001315 at the time of writing. Despite the drawdown today, it looks like the Ethereum whales are still unfazed, as data from the whale tracker service WhaleStats shows 500 of the largest investors in the market have rather been buying more of SHIB in the past 24 hours.

Recent Performance

Despite today’s drop, SHIB is still in green for the past week with 7% gains and 24% profits over a month period. On other hand, Dogecoin only managed a 5% profits and 6% uplift respectively during these periods.

Buying Opportunity

Ethereum Whales appear to be looking at this dip as a buying opportunity as they continue to hold bullish convictions about Shiba Inu’s future performance. The degree of their purchases hasn’t been too strong today, but it should still be positive for existing investors of SHIB.

What Does This Mean?

The fact that Ethereum whales are continuing to purchase Shiba Inu even after its drop suggests that these large holders see potential long-term gains from holding onto this asset despite short-term fluctuations in its price action. Therefore, existing investors may want to consider taking advantage of this dip as well and add more SHIB tokens to their portfolios before it rebounds again in value.

Conclusion

It looks like Ethereum whales remain undeterred by any drops in Shiba Inu’s price action and instead keep investing more into this asset due to their bullish outlook on its future performance. This could be seen as an encouraging sign for all other existing investors who might want to take advantage of this dip and add more SHIB tokens before its price rebounds again soon.

• On February 9, the Securities Exchange Commission (SEC) reached a settlement with Kraken and its subsidiaries Payward Ventures and Payward Trading.
• SEC Commissioner Hester M. Pierce expressed disagreement with the decision to close Kraken’s staking program, arguing it should have been registered as a security offering.
• Commissioner Pierce called the SEC’s solution of shutting down programs without providing guidance “paternalistic and lazy regulation.”

Kraken Settles With SEC Over Staking Program

The Securities Exchange Commission (SEC) recently settled with crypto exchange Kraken and its subsidiaries Payward Ventures and Payward Trading on February 9th. The staking program offered by the exchange was part of this settlement, however, not everyone was pleased with this outcome.

Commissioner Disagrees With Settlement

SEC Commissioner Hester M. Pierce disagreed with the closure of Kraken’s staking program as part of the settlement, stating that it should have been registered by the SEC as a securities offering. She argued that using enforcement actions to inform people what the law is in an emerging industry is “not an efficient or fair way to regulate.” She further criticized the SEC for not providing guidance on this issue before it had become a problem, calling their solution “paternalistic and lazy regulation.”

Staking Programs A Complicated Question

Pierce stated that offerings like Kraken’s staking service raises a host of complicated questions including whether each token’s staking program would need to be separately registered and what disclosures would be necessary among other things. This has left many crypto investors in limbo when it comes to understanding how these services fit into existing regulations.

Kraken Forbidden From Offering Staking Service In US

As part of their settlement with the SEC, Kraken is forbidden from ever offering a staking service in the United States again—registered or not. This has raised concerns over what kind of solutions regulators are providing for those investing in crypto assets within America.

Regulators Need To Provide Solutions Not Shut Down Programs

Commissioner Pierce believes that rather than shutting down programs without providing solutions for investors, regulators should take time to think through these issues before making any decisions about them–especially in such an emerging industry like cryptocurrency where guidance can often be hard to come by for those who need it most..

• Many crypto firms and startups went under in 2020 due to the crypto winter.
• Chainalysis is making a proactive move to prepare for 2023 by restructuring, which includes laying off non-core personnel.
• The company aims to refocus its business strategy on new products suitable for the financial sector.

Crypto Industry Turmoil Affects Companies

Last year, many crypto firms and startups went under due to the turmoil in the space. In addition, the devastating impact of the crypto winter affected many businesses as prices of crypto assets fell below expected levels.

Chainalysis Prepares For Reorganization

As a result, many crypto-related firms have started implementing restructuring strategies right from the beginning of 2023. Chainalysis is one of the firms making a proactive move to prepare its grounds for the year. A report from Forbes revealed that the blockchain research company Chainalysis plans to lay off some of its employees. According to the report, Maddie Kennedy, the director of communications at the firm, stated that the company is restructuring.

Layoff Part Of Company’s Refocus Strategy

The company plans to lay off some non-core personnel, especially the sales team. Then, it will reshuffle roles of other staff while creating a new organizational structure. The blockchain analytics firm dismissed 44 out of its 900 staff, representing 4.8% of its workforce . This layoff was part of Chainalysis’ reorganization plan to help refocus its business strategy in 2023 and cushion against further losses in private sector customers as asset prices drop and more reports emerge imploding platforms skyrocketing caution among users when transacting with cryptocurrencies..

Chainalysis Targets Financial Sectors

The blockchain analytics firm also mentioned that it plans to create new products suitable for financial sectors while targeting public clients such as Robinhood (an online brokerage) and BNY Mellon (a custodian bank). The firm also has other securities-service firms and government entities like SEC, FBI, DEA as customers accounting for 60% of their sales in past years are also customers they are targeting this restructuring towards them too so they can stay afloat during these times..

Conclusion

Overall Chainalysus’s restructing plan is necessary as it helps re focus their business strategy on creating new products suitable for financial sectors while targeting public clients directly and government entities indirectly so that they can stay afloat during these trying times where user caution when transacting with crytocurrencies has increased drastically due to lack or trust within thw market place

• Floki Inu, a meme coin birthed by fans and the SHIB community, has seen tremendous performance over the past few hours after its governing DAO issued an important developmental proposal.
• The proposal proposed the burning of an enormous number of its circulating tokens, in order to reduce the tax that users pay for transacting on the network and to reduce potential safety hazards associated with bridges.
• After the proposal issuance, FLOKI saw a massive price increase of 25%.

Floki Inu, a meme coin birthed by fans of the Shiba Inu (SHIB) community, has seen a tremendous surge in performance in the past few hours. The boost in price is a result of an important developmental proposal issued by the coin’s governing decentralized autonomous organization (DAO). The proposal called for the burning of an enormous number of its circulating tokens, in order to reduce the tax that users pay for transacting on the network and to reduce potential safety hazards associated with bridges.

The proposal cited various reports indicating the risks associated with cross-chain bridges, especially ones with a large amount of money. Over $2 billion was either misplaced or stolen from cross-chain bridges alone in 2022, making it necessary to reduce the risk by reducing the circulating token supply. Token burning is a process by which blockchain developers permanently remove certain coins from circulation, in order to increase the asset’s value, provided demand does not change.

The proposal was met with a lot of enthusiasm, and the FLOKI token saw a massive price increase of 25%. The proposal’s success was attributed to the strong community support and the fact that FLOKI is a people’s cryptocurrency, governed by a DAO. The community proposal to burn an enormous number of its circulating tokens has been hailed as a success, and it has been seen as a sign of the growing strength of the coin, as well as a testament to the effectiveness of its governance.

Going forward, FLOKI is expected to continue its strong performance as its developers continue to work on improving the coin’s features and increasing its utility. The proposal’s success has also been seen as a positive sign for the future of the coin, as it shows that the community is willing to support the coin and its developers in their efforts to enhance the coin’s value. With its strong performance and the community’s backing, FLOKI is expected to continue to rise in the ranks of the top coins.

• Bitcoin’s price has increased by 30% since the beginning of the 2023, surpassing $23,000.
• The recent rally in the alpha coin was triggered by a decline in the U.S. Consumer Price Index, indicating a likely deceleration in interest rate hikes.
• Arthur Hayes, former BitMex big boss, claims in a new treatise on U.S. macroeconomic policy that a “disastrous global financial crisis” could be poised to submerge BTC and the crypto market.

The cryptocurrency market has been abuzz with speculation and excitement since the price of Bitcoin experienced a major surge in recent months. After dipping below $16,000 late last year, Bitcoin’s price has increased by an impressive 30% since the beginning of the 2023, surpassing $23,000. This unprecedented rally has left many financial gurus wondering what could possibly be driving the cryptocurrency market.

Recent figures from the U.S. Bureau of Labor Statistics suggest that inflation has been on a steady decline since mid-2022 and is currently sitting at a much more desirable rate of 2%. This trend has led to speculation that Federal Reserve Chairman Jerome Powell may be ready to shift away from his Quantitative Tightening policies in order to avoid the risk of a recession.

However, Arthur Hayes, the founder and former chief executive of the BitMex crypto exchange has cautioned that Bitcoin and the market for crypto assets may experience a decline if the U.S. Federal Reserve does not adjust its monetary policies. In a new treatise on U.S. macroeconomic policy, Hayes claims that a “disastrous global financial crisis” could be poised to submerge BTC and the crypto market, and that the current Bitcoin surge should not be seen as the start of a new bull run.

The recent rally in the alpha coin was triggered by a decline in the U.S. Consumer Price Index, indicating a likely deceleration in interest rate hikes. Nevertheless, the rise in Bitcoin’s value has raised some eyebrows, as it is still unclear how a possible Federal Reserve policy shift could impact the crypto market.

Despite the uncertainty, it is clear that the cryptocurrency market is beginning to gain traction once again. With the possibility of a new bull run looming, investors will be watching closely to see if the Federal Reserve can effectively manage its monetary policy to ensure the market’s continued success.