Cryptocurrency Market News From tradecoind2.com

[NewspaperD2]

Binance, one of the world’s leading exchanges, has unveiled its 39th project on Binance Launchpool – Memecoin (MEME), Memeland’s native ecosystem token. Memeland is a Web3 venture studio closely affiliated with the hugely popular meme platform 9GAG.



Staking opportunity and rewards
​
Binance Launchpool will allow users to stake their assets, including BNB (Binance Coin), TUSD (TrueUSD), and FDUSD, into separate pools for MEME token farming for a period of 30 days. This farming opportunity will begin at 07:00 on October 28, 2023 (Vietnam time), opening up opportunities for cryptocurrency enthusiasts to participate in the ecosystem and potentially reap the rewards. reward.


https://twitter.com/azcoinnews/status/1717911247616958845

In addition, Binance plans to list MEME at 15:00 on November 3, 2023 (Vietnam time) and trading pairs will include MEME/BTC, MEME/USDT and MEME/BNB. Seed tokens will be applied to MEME, bringing higher value and potential to traders and investors.




Key details about Memecoin
Here are some key details of Memecoin:



– Token name: Memecoin (MEME)



– Total number and maximum token supply: 69,000,000,000 MEME



– Launchpool token reward: 1,380,000,000 MEME (2% of total token supply)



– Initial circulating supply: 8,797,500,000 MEME (12.75% of total token supply)



– Smart contract details: Memecoin (MEME)



– Staking terms: KYC (identity verification) required



Limited staking and pools are supported
There is a hard hourly limit per user per pool:



– 153,333.33 MEME in BNB pool



– 19,166.67 MEME in TUSD pool



– 19,166.67 MEME in FDUSD pool



The supported pools are as follows:



– Stake BNB: Rewards worth 1,104,000,000 MEME (80%)



– Stake TUSD: Rewards worth 138,000,000 MEME (10%)



– Stake FDUSD: Rewards worth 138,000,000 MEME (10%)



Time of cultivation and distribution
MEME farming time is scheduled from 07:00 on October 28, 2023 to 06:59 on November 27, 2023 (Vietnam time). MEME token distribution will take place daily and it is important that users stay updated on the daily rewards for each pool.



Additional support for BNB Vault users
Binance BNB Vault will support MEME Launchpool. Users who have staked their BNB into the BNB Vault will automatically join the MEME Launchpool and receive daily MEME rewards in their Spot Wallets.



Important considerations
Users should note they can only stake tokens in one pool at a time. For example, the same BNB cannot be staked in two different pools at the same time, but asset allocation across multiple pools is allowed.



Users also have the flexibility to unstake their funds at any time without delay and join other available pools immediately. At the end of each farming period, staked tokens in each pool and any unclaimed rewards are automatically transferred to each user’s spot account.



Be eligible and participate
It is worth noting that participation in Memecoin Launchpool is subject to eligibility based on the user’s country or region of residence. Users need to complete verification of their account and be from an eligible jurisdiction to participate in MEME farming. Currently, residents of certain countries or regions, including Belarus, Canada, Cuba, Iran, New Zealand, Netherlands, North Korea, South Sudan, Syria, United States and their territories nor will Zimbabwe be able to engage in MEME farming. It is important to stay updated as this list is subject to change due to evolving rules and regulations.

Source:
https://tradecoind2.com/binance-launches-memecoin-meme-in-its-39th-project-at-binance-launchpool/

[NewspaperD2]

Floki Network successfully launches TokenFi with $27.2 million TVL in 24 hours

Floki is a decentralized autonomous organization (DAO) that announced the launch of TokenFi, becoming a cryptocurrency and asset tokenization platform in an effort to advance the tokenization industry. Recent reports suggest the launch event was a success. Evidence is that excitement about Floki staking has so far prevailed, raising expectations for more capital inflows to come.

Floki
Network
successfully launched TokenFi
 
Floki Network’s plans to capitalize on the tokenization industry are off to the best start, recording a total value locked (TVL) of $27.2 million within the first 4 hours of launch. TVL is the total number of tokens staked.

With this successful record, the network predicts more inflows in the coming weeks and months, thanks to the “huge excitement surrounding the Floki staking launch.” The project offers rewards in TokenFi’s TOKEN tokens, earned by staking FLOKI tokens.

“There is no limit to the amount of FLOKI tokens you can stake and you can claim your rewards at any time!”.

The network states that staked FLOKI tokens will be locked for a minimum of 3 months and a maximum of 4 years. During this period, although you can request, you cannot withdraw money.

User traded wrong TOKEN on CEXes
In an updated tweet dated October 28, the network pointed to concerns about users possibly trading the wrong token, noting that “any centralized exchange (CEX) TokenFi listing occurring today are not authorized by us. If you bought TOKEN on CEX today, you are likely not trading the correct TokenFi.”

https://twitter.com/RealFlokiInu/status/1717985938364608622
 

In the initial announcement, the Floki ecosystem noted that the TOKEN will be available for trading on decentralized exchanges Uniswap and PancakeSwap from 10:00 p.m. on October 27 (Vietnam time). They also said they are coordinating the listing with the main exchanges and will soon announce the timeline.

Investors who purchased TOKEN on CEX are requested to withdraw their tokens immediately as they are most likely trading in the wrong token.

“Try withdrawing these tokens to your wallet from the CEX you purchased it from. If you cannot withdraw your tokens then they are not real coins.”

This warning has raised concerns about CEX listing the token without notifying the producers. This can be considered a freedom gap in the world of decentralized finance. One user said:

“I bought from CoinW (900,000 tokens) suddenly they withdrew the tokens without my permission and then returned me USDT without asking me. Can I sue them for that? I want my tokens back.”

However, that puts traders in a deadlock, especially when they want to take profits contrary to the initial direction of the network.

Floki (FLOKI) price has responded by dropping 15% and is trading at $0.0000366 at the time of writing.

Source:
https://tradecoind2.com/floki-network-successfully-launches-tokenfi-with-27-2-million-tvl-in-24-hours/

[NewspaperD2]

According to XRP advocate John Deaton, approximately 5,000 Coinbase users have signed up as potential amicus curiae in the legal battle against the US Securities and Exchange Commission (SEC).

In an  October 27 post on

Amicus curiae, which translates from Latin as “friend of the court,” is a legal term referring to a person who is not a party to a case but who provides information, expertise, or understanding. know deeply about the case. They provide this assistance to the court through a brief to help the court reach an informed decision. The role of the Amicus Curiae can be very important in cases where the court feels it needs more information before making a decision.

Deaton believes the filing could make a difference in the case just like in Ripple’s fight against the SEC. This attorney represented 75,000 XRP hodlers against financial regulators and has pushed for similar actions in support of Ethereum hodlers against New York Attorney General Letitia James in the case against KuCoin.

While Coinbase users want to join the legal fight, the exchange has received support from a number of crypto stakeholders, including Senator Cynthia Lummis, a group of legal scholars, and the Chamber of Deputies. Digital Commerce.

Oral arguments are scheduled for January
Meanwhile, the ongoing legal dispute between Coinbase and the SEC will move to the next stage as Judge Katherine Polk Failla has granted an oral argument regarding Coinbase’s motion for defense judgment . The court will hear the case on January 17, 2024.

Paul Grewal, Coinbase’s Chief Legal Officer, expressed appreciation for the court’s decision and affirmed that the exchange is ready to resolve any questions raised by the Court. In response to the SEC’s case, Coinbase sought rebuttal, arguing that the regulator was exceeding its authority by classifying cryptocurrencies listed on its platform as securities.

Source:
https://tradecoind2.com/5000-users-file-amicus-curiae-in-coinbase-sec-lawsuit/

[NewspaperD2]

Near Protocol (NEAR) price has bounced from the long-term support zone and broken above the short-term resistance line. It is expected to recover strongly in the near future.

Weekly outlook

NEAR Protocol (NEAR) price fell below the critical support zone at $1.25 and confirmed it as resistance during the week of August 28 to September 3 (red arrow). This caused the price to drop to the long-term support zone at $0.95, where the 2020 bull market began.

There is a positive signal that NEAR price bounced right after touching this support zone last week and created a bullish pin bar candle (blue arrow). This shows that the bulls bought aggressively when the price reached it.

Indeed, the price has rallied this week and is currently retesting the $1.25 zone. If a breakout occurs, NEAR price could rally quickly to the next resistance area at $1.62. This figure is 30% higher than the current price.

The weekly RSI favors continued upside on a break above a long-term, upward-sloping descending resistance line.

Break through the resistance line
The daily chart shows that NEAR price has broken above the descending resistance line, formed since the yearly high of $2.80 in February 2023. This is a bullish sign, indicating a trend The previous decrease has ended and a new increase is possible.

This view is further reinforced when NEAR price has created 9 consecutive green candles on the daily chart with strongly increasing trading volume (blue ellipse). This is the beginning of a sustained price increase.

The daily RSI supports this view as it spikes from oversold to overbought territory.

Conclude
The most likely outlook suggests that NEAR prices will continue to rise in the near term. The potential target for this movement is $1.62.

Source:
https://tradecoind2.com/near-protocol-near-price-rebounded-strongly-from-the-long-term-support-zone-this-is-a-potential-target/

[NewspaperD2]

Long-term expectations have crept back into Bitcoin investor sentiment over the past few weeks. This may partly be the reason for the bullish activity and whales are surprisingly not left behind.

Now, Bitcoin’s long-term outlook looks more optimistic and demand for the leading cryptocurrency has also increased. New data suggests traders can see more upside in the coming weeks as institutional demand returns.

According to IntoTheBlock analysis, institutional demand for BTC is growing and recently reached a new high in 2023. This is evident in the increase in the number of transactions worth over $100,000.

Evaluating Bitcoin’s HODL status
Analysts believe that the newfound institutional demand could be a result of the excitement surrounding the Bitcoin ETF. The return of institutional demand coincides with recent on-chain observations.

Take for example the amount held by the largest BTC addresses. Those holding at least 100,000 BTC and those holding over 1 million BTC have been actively accumulating Bitcoin over the past two weeks.

In fact, the recent accumulation of whale activity could be considered notable as whale address balances have similarly returned above May 2022 levels. This is important because May and June 2022 saw strong capital outflows due to the failure of Terra LUNA and FTX and subsequent FUD.

The spike in whale activity and organizational demand over the past two weeks last occurred in January 2023. Furthermore, when looking at BTC Open Interest (OI) from the derivatives segment, it is clear that negative funding rates have decreased in recent weeks.

Positive OI has been especially dominant in the past few weeks due to increased optimism. However, the same data reveals BTC’s OI still has room to spare before reaching its highest level in the past 12 months.

The increasing demand for BTC and the long-term outlook changing in favor lead to more HODL. The number of BTC HODLed or lost coins recently reached its highest peak since early 2023.

Additionally, Bitcoin miner balances have also grown positively on a year-to-date basis. This is consistent with the return of confidence. However, the outflow from miner balances over the past few days could point towards short-term profit-taking.

However, most of the above figures highlight the fact that Bitcoin demand is gradually increasing. This means its future is shaping up for a healthier long-term bullish outlook.

Source:
https://tradecoind2.com/these-new-2023-milestones-could-change-bitcoins-2024-outlook/

[NewspaperD2]

Long-term expectations have crept back into Bitcoin investor sentiment over the past few weeks. This may partly be the reason for the bullish activity and whales are surprisingly not left behind.

Now, Bitcoin’s long-term outlook looks more optimistic and demand for the leading cryptocurrency has also increased. New data suggests traders can see more upside in the coming weeks as institutional demand returns.

According to IntoTheBlock analysis, institutional demand for BTC is growing and recently reached a new high in 2023. This is evident in the increase in the number of transactions worth over $100,000.

Evaluating Bitcoin’s HODL status
Analysts believe that the newfound institutional demand could be a result of the excitement surrounding the Bitcoin ETF. The return of institutional demand coincides with recent on-chain observations.

Take for example the amount held by the largest BTC addresses. Those holding at least 100,000 BTC and those holding over 1 million BTC have been actively accumulating Bitcoin over the past two weeks.

In fact, the recent accumulation of whale activity could be considered notable as whale address balances have similarly returned above May 2022 levels. This is important because May and June 2022 saw strong capital outflows due to the failure of Terra LUNA and FTX and subsequent FUD.

The spike in whale activity and organizational demand over the past two weeks last occurred in January 2023. Furthermore, when looking at BTC Open Interest (OI) from the derivatives segment, it is clear that negative funding rates have decreased in recent weeks.

Positive OI has been especially dominant in the past few weeks due to increased optimism. However, the same data reveals BTC’s OI still has room to spare before reaching its highest level in the past 12 months.

The increasing demand for BTC and the long-term outlook changing in favor lead to more HODL. The number of BTC HODLed or lost coins recently reached its highest peak since early 2023.

Additionally, Bitcoin miner balances have also grown positively on a year-to-date basis. This is consistent with the return of confidence. However, the outflow from miner balances over the past few days could point towards short-term profit-taking.

However, most of the above figures highlight the fact that Bitcoin demand is gradually increasing. This means its future is shaping up for a healthier long-term bullish outlook.

Source:
https://tradecoind2.com/vaneck-predicts-sol-will-reach-3211-and-eth-soar-to-11800-by-2030/

[NewspaperD2]

US President Joe Biden’s administration is rapidly drafting an executive order to address the dangers associated with artificial intelligence (AI) and provide guidance to government agencies on its capabilities. use.

According to media sources, Biden will announce the administration’s long-awaited executive order on AI. This could significantly derail XRP and the larger cryptocurrency market.

The game-changing executive order is expected to reshape AI integration

The directive, expected to be issued as early as Monday, aims to simplify the immigration process for highly skilled people, establish more government agencies and specialized groups, and facilitate Facilitate the integration of AI in various sectors influenced by the federal government, including healthcare, commerce, housing, education and more.

According to Forbes , the market value of XRP, Bitcoin and other digital assets could be affected by this decision. It is worth mentioning that Forbes senior contributor Billy Bambrough commented that specific information regarding the upcoming ruling was revealed in a leaked article.

The long-awaited directive is the most significant attempt yet to impose national order on a technology whose explosive growth has surprised many. This is especially true given the exceptionally human-like capabilities of the most recent and powerfully creative AI models.

Cryptocurrency landscape too crowded?
Forbes has forecast the emergence of a congested cryptocurrency market, driven by the recent surge in prices of XRP, Bitcoin and other cryptocurrencies.

Market participants say the increased optimism could be due to the growing enthusiasm surrounding BlackRock’s registration of a Bitcoin spot ETF.

Bambrough highlighted the positive trend that signifies growing attention from the financial industry towards cryptocurrencies, especially from Wall Street. However, as a senior contributor to Forbes stated, it is very likely that the US government will begin to significantly change the prevailing trend.

In a recent conversation, Bambrough provided details about the upcoming executive order, its emphasis on AI, and the expected announcement by US President Biden.

The report claims this event caused a lot of anxiety in the cryptocurrency sector. Bambrough emphasized that the program is expected to be announced in the coming weeks to ensure safe and reliable AI deployment.

Concerns arise over potential “national resources” tag – Impact on XRP, crypto markets
Forbes reports cryptographic experts are worried about the possibility of computer power being designated a “national resource.”

Possible legal changes or limits on energy use related to cryptocurrency mining and blockchain technology stem from this classification. Accordingly, it leads to far-reaching consequences for the industry.

The potential consequences of this action could significantly impact decentralized characteristics and energy usage, raising concerns within the cryptocurrency industry.

According to Arati Prabhakar – Director of the White House Office of Science Policy and Technology, the popularity of synthetic AI tools like ChatGPT has caused concern for US President Biden. As a result, the administration is actively engaged in developing an executive order to provide guidance to federal agencies on the optimal use of AI technology.

Restrictions on purchasing computing power if imposed could adversely impact the broader cryptocurrency market, extending the impact to assets such as XRP. Such concerns arise because Bitcoin miners may face limitations in obtaining computing power, affecting their productivity.

Alexander Grieve, director of government affairs at Paradigm, expressed concern about potential limitations, comparing the situation to “Operation Choke Point but for computing power.”

This involves classifying computing power as a “national resource,” which could force cloud computing giants like Google and Amazon to disclose information if customers exceed the limits set in the purchase of computing resources for activities such as Bitcoin mining.

Source:
https://tradecoind2.com/xrp-price-is-predicted-to-be-chaotic-due-to-the-upcoming-executive-order-of-the-us-president/

[NewspaperD2]

Goldman Sachs (GS) bank said in a note on Thursday that Ethereum’s Dencun upgrade , which could take place in Q1 2024, is the next step in its journey to becoming an open payments layer. breadth of blockchain.

“The primary impact of Dencun will be to increase the availability of00 data for layer-2 rollup via proto-danksharding, resulting in reduced rollup transaction costs that will be passed on to end users.”

The layer 1 network is the base layer or basic infrastructure of the blockchain . Layer 2 refers to a set of offchain systems or separate blockchains built on layer 1. Rollup processes transactions on another, faster, blockchain, or layer 2, then transfers the data back to the blockchain original at a fraction of the price.

Proto-danksharding will also “serve as a foundation for future scalability upgrades, including danksharding, as part of the blockchain’s ‘Surge’ roadmap,” the report said. Danksharding is a way of making Ethereum more scalable and applies the same concept of dividing the network into shards, but instead of using these shards to increase transactions, it uses them to increase space for data groups.

“Dencun will enhance the scalability of Ethereum through rollups” and will “optimize gas fees, improve network security, and make several internal updates.”

Source:
https://tradecoind2.com/xrp-price-is-predicted-to-be-chaotic-due-to-the-upcoming-executive-order-of-the-us-president/

[NewspaperD2]

Total value locked in DeFi, a key metric for programmable blockchains, is increasing in the Ethereum-based layer 2 solution segment. Despite overall market indifference, the net TVL of the top 30 platforms has increased 32% over the past 4 months.

TVL of Ethereum L2 reaches ATH
Yesterday, October 27, 2023, the aggregate locked value across all Layer 2 platforms on Ethereum (ETH) reached a new all-time high. It quickly hit the $12 billion mark, but then stabilized at nearly $11.87 billion.

The previous historic high was recorded on April 17, at $11.85 billion.

In the past hours, it has decreased slightly to 11.81 billion USD. Thus, measured in USD value, TVL has increased more than 114% in the past 12 months despite the lackluster performance of the cryptocurrency market. In terms of ETH value, the record was registered on October 11, 2023.

The ecosystem reached 6.72 million ETH locked, while it barely surpassed 3.5 million Ether (ETH) a year ago.

Over the past seven days, the L2 ecosystem has added 10.36% TVL in dollars. A selection of the largest L2s — Arbitrum, OP Mainnet (formerly Optimism), Starknet, ImmutableX and Loopring — achieved even more impressive gains. Ethereum (ETH), the most important asset for L2, is up 10.14% in the corresponding period.

Meanwhile, L2 on Ethereum (ETH) remains highly dominated by whales. The two largest networks – Arbitrum and OP Mainnet – are responsible for over 90% of TVL in the ecosystem.

Base, the fastest growing L2, is defending third place with 4.83%. Next are zkSync Era and dYdX with rates of 3.8% and 3% respectively.

Source:
https://tradecoind2.com/ethereum-l2-surprisingly-sets-new-ath/

[NewspaperD2]

October saw significant advancements in the industry thanks to the launch of six ETH Futures ETFs, giving investors the opportunity to delve deeper into ETH futures. Bitcoin also reacted positively to this development. Further gains were driven by speculations about BlackRock approving a BTC spot ETF application in the United States.

As a result, total assets under management (AUM) of digital asset products increased by 6.74%, reaching $31.7 billion in October. This was the first increase since July 2023 .

According to the latest report by crypto data provider CCData, Grayscale’s discount is narrowing and reached a low of 12.6% on October 18. This is further evidence of change. Because the reduction in the spread between the Trust’s market price and Net Asset Value (NAV) reflects growing confidence in the approval of a Bitcoin ETF for immediate delivery.

Solana-based products see AUM increase 74%

Despite links to FTX and its disgraced founder Sam Bankman-Fried, as well as outages, Solana has managed to bounce back this year. This is evident in the continuous string of inflows over the past few weeks.

According to CCData’s report , Solana-based products stood out from competitors and had the most significant AUM growth during the period, increasing 74.1% to $140 million in October.

Meanwhile, AUM for Bitcoin-based products also increased 11.1%, reaching $23.2 billion and accounting for 73.3% market share, up from 70.5% in September.

However, Ethereum-based products declined despite the launch of new ETFs. These products overall fell 5.45%, with AUM to $6.35 billion and market share of 20.1%, down from 22.6% in September.

Meanwhile, ATOM-based products, including 21Shares ATOM and CoinShares COMS, recorded the second-highest gain, up 58.6% to $2.15 million.

In October, the average daily combined trading volume of digital asset investment products increased significantly, increasing 44.3% to reach $230 million. This increase underscores market participants’ optimism about the possibility of ETF approval.

Notably, this upward move marks the third largest monthly volume increase, with January and March 2023 being the only months to surpass it.

Cryptocurrency-related stocks are affected
For the 2nd month in a row, crypto-related stocks have slumped against Bitcoin, as enthusiasm around the BTC ETF and a significant 11.4% increase in the asset’s price in October took center stage. .

Interestingly, COIN (Coinbase Global Inc), RIOT (Riot Platforms Inc) and GLXY (Galaxy Digital Holdings Ltd) all saw declines of 0.56%, 4.93% and 3.01% respectively.

CCData cited this trend as largely attributable to ongoing macroeconomic conditions, which inherently represent a more “hawkish stance.” This change in economic sentiment is driven by concerns about an impending recession and the US Federal Reserve’s reluctance to lower interest rates, at least until May 2024.

Source:
https://tradecoind2.com/products-on-solana-led-the-way-with-a-74-increase-in-aum-in-october/

[NewspaperD2]

The spike in Bitcoin (BTC) value has brought increasing profits to miners, with the world’s largest mining pools continuing to provide significant hashpower to the network. On October 12, based on 7-day SMA, Bitcoin hashrate reached an unprecedented 456 exahash per second (EH/s), marking a major milestone.

As of now, the hashrate has stabilized at around 443 EH/s, according to the seven-day average. Forecasts currently show that difficulty is expected to increase between 2.21% and 2.5% on October 30. This follows the recent 6.47% increase observed in block height 812,448 on October 16, as well as two previous increases.

Notably, the current block generation interval is consistently shorter than the typical 10-minute average, ranging from 8 minutes to 30 seconds and 9 minutes 48 seconds, suggesting that 2,016 blocks are likely to be mined quickly. more than the two-week average.

Around 42 mining pools are transferring their SHA256 hashrate to the Bitcoin blockchain, pushing Namecoin’s hashrate above the 300 EH/s threshold. Namecoin, which shares its mining infrastructure with BTC through merge-mining, reached a record 396 EH/s at block height 687,123.

Among these 42 pools, Antpool has taken the lead over the past three days, capturing a significant 29.56% of the total hashrate, equivalent to 132 EH/s. Following closely behind, Foundry USA holds a significant market share of 27.56% with 123 EH/s, while Viabtc holds 11.56% of the hashrate with 51.86 EH/s.

Behind Antpool, Foundry and Viabtc are F2pool and Binance pool. As of October 28, 2023, there are still over 25,000 more blocks left to mine before the next halving event. Although the halving event is expected to take place on April 21, 2024, the possibility of March 2024 or earlier appears if the trend of rapidly increasing block generation times persists. exist.

Source:
https://tradecoind2.com/bitcoin-miners-prepare-for-fourth-consecutive-difficulty-increase-as-hashrate-jumps/

[NewspaperD2]

80% of all cryptocurrency transactions in the country are USDT

According to data from Brazil’s revenue services agency, USDT has seen a significant increase in adoption in Brazil, accounting for 80% of all cryptocurrency transactions in the country.

As of mid-October, USDT transactions in Brazil this year amounted to 271 billion Brazilian Real (BRL), ~$55 billion, almost double the volume of domestic Bitcoin transactions (which reached 151 billion BRL, ~ 30 billion dollars). Stablecoins are cryptocurrencies designed to have a stable value, often pegged to the value of fiat currencies, such as the US dollar.

USDT transactions have been on the rise in Brazil since 2021, but surpassed Bitcoin volumes for the first time in July 2022, right at the height of last year’s crypto industry storm, when companies Cryptocurrency lenders Three Arrows Capital and Voyager Capital collapsed.

The government reported that crypto winter  wiped out  nearly 25% of domestic crypto trading volume in 2022, ending at 154.4 billion BRL, or ~31 billion USD.

Brazilian tax authorities track citizens’ cryptocurrency-related activities using a complex system based on artificial intelligence and network analysis. According to a blog post, the system can detect suspicious activity as well as track the location of individuals trading cryptocurrency.

The agency is also targeting cryptocurrency investments held abroad by the country’s citizens. On October 25, the Brazilian Congress passed a law recognizing cryptocurrencies as “financial assets” for tax purposes on foreign investments . Overseas income from 6,000 to 50,000 BRL (~10,000 USD) will be subject to a  15% tax starting January 2024. Above this threshold, tax will be applied at 22.5%.

Since 2019, cryptocurrency exchanges operating in Brazil are required to disclose all user transactions to the government. Income from cryptocurrency sales  exceeding 35,000 BRL (~7,000 USD) per month is subject to progressive taxes ranging from 15% to 22.5%.

Global cryptocurrency exchanges such as Coinbase, Binance, Bitso and Crypto.com operate in the country alongside local players such as Mercado Bitcoin and Foxbit.

Source:
https://tradecoind2.com/80-of-all-cryptocurrency-transactions-in-the-country-are-usdt/

[NewspaperD2]

At least 25 people were affected by a 2022 data breach affecting password storage software LastPass that saw $4.4 million in cryptocurrency withdrawn from 80 wallets.

In an X (Twitter) post dated October 27, on-chain researcher ZachXBT said he and MetaMask developer Taylor Monahan tracked the fund movements of at least 80 compromised wallets on October 25.

“Most, if not all, victims were long-time LastPass users and/or confirmed to have stored their crypto wallet keys/seeds in LastPass,” Monahan said in an accompanying  Chainabuse report .

https://twitter.com/zachxbt/status/1717901088521687330

In December 2022, LastPass revealed that attackers used information previously stolen in a breach in August of the same year to steal the login information of a LastPass employee and decrypt customer information. stored goods.

Also stolen was an encrypted backup of customer vault data that LastPass warned could be decrypted if an attacker guessed the account’s master password.

In a  September blog post  , cybersecurity journalist Brian Krebs reported that several LastPass customer vaults appeared to have been cracked and more than $35 million worth of cryptocurrency was stolen. stole from about 150 victims.

In January, LastPass was hit with a class action lawsuit from individuals claiming that the August 2022 breach resulted in the theft of approximately $53,000 worth of Bitcoin.

In its latest X post, ZachXBT advised anyone who has stored wallet seeds or private keys in LastPass to “move your crypto assets immediately.”

Source:
https://tradecoind2.com/at-least-35-million-in-crypto-was-stolen-from-victims-of-the-2022-lastpass-breach/

[NewspaperD2]

A widely followed cryptocurrency analyst says the US Federal Reserve (Fed) will likely keep interest rates higher for longer draining risk assets like altcoins until something serious happened.

In a new strategy session, trader Benjamin Cowen  told his 788,000 YouTube subscribers that the Fed will not be interested in cutting interest rates until the S&P 500 sees a serious corrective move.

“Liquidity is shifting from high risk to low risk. That doesn’t mean lower-risk things can’t fall, just that when they fall, that usually marks the end because then the Fed makes an announcement.

When the S&P fell, the Fed started to pay attention. Do you think the Fed cares about the S&P when it’s at 4,600? No, it’s too high.

Do they care about the number 4,100? Sure is not. So do they care when it’s at 3,500 or 3,400? Yes, they will start to care and that’s when they will start cutting back, I guess. So keep an eye on the S&P if you’re curious about when altcoins are bullish relative to Bitcoin.”

As long as the stock market remains elevated, Cowen believes that the Bitcoin (BTC.D) dominance chart, which tracks the percentage of total market capitalization belonging to Bitcoin (BTC), will continue to rise, causing many altcoins to lagging behind the king of cryptocurrency.

Cowen also said that historically, BTC.D has tended to reverse its uptrend when the Fed begins an interest rate cut cycle. Until then, he expects crypto investors to redirect their capital from altcoins to Bitcoin.

“What’s more important to realize is that BTC dominance peaked in September in the last cycle because the Fed started cutting interest rates – we haven’t even seen the Fed start cutting rates yet and the cycle Last period it took a month or two after the first rate cut for the dominance ratio to peak…so why think that dominance has peaked?”

Source:
https://tradecoind2.com/altcoins-will-not-recover-until-this-happens/

[NewspaperD2]

In the rapidly evolving world of cryptocurrency, security breaches and hacks are unfortunate events but not uncommon. The hack that CoinEx, a popular cryptocurrency exchange, recently experienced shocked the entire industry. However, what is to be welcomed in the wake of this hack is CoinEx CEO Haipo Yang’s unwavering commitment to his users and the crypto community at large.

On October 27, Haipo Yang sent the CoinEx community a message on safer than ever. His message read:

“To the CoinEx community, the recent attack is the biggest challenge we have faced since CoinEx launched. We are truly sorry for the inconvenience that has affected everyone. But my commitment to all of you remains as strong as ever. Thank you everyone for your continued support during this difficult time.”

https://twitter.com/yhaiyang/status/1717904866713145590
 

In his post, Yang expressed gratitude for the tireless efforts of the team, who worked around the clock to strengthen CoinEx’s infrastructure and security measures. He outlined the priorities for CoinEx moving forward, laying out a roadmap for recovery and growth.

Key priorities include:

Security Upgrade: Comprehensive upgrade to CoinEx’s security architecture, focusing on enhancing the capabilities of both hot and cold wallets as well as the early warning system.
Asset security: Asset security becomes the core of all CoinEx business lines. This ensures that the safety of users’ assets is always a top concern.
Strategic partnerships: CoinEx is actively collaborating with industry-leading security companies to strengthen defenses against potential threats.
CoinEx Protection Fund: This fund was established to further secure user assets, pledging that all losses are compensated.
Furthermore, Yang emphasized that CoinEx has always been committed to “users first” and this principle will continue to guide their product and service offerings. The company plans to upgrade system architecture, enhance product offerings, build compliance teams, and actively comply with regulations.

In a move to strengthen the CoinEx community, Yang also announced the upcoming ‘ CoinEx Creator Program ‘, which will gather influencers and offer various interactive campaigns to further engage users .

CoinEx CEO admitted that 2023 has been a challenging year for the cryptocurrency industry, with increasing regulations, market collapse and a series of project shutdowns. However, he pointed out that CoinEx has weathered these storms together with its users, emphasizing the importance of their long-term support.

Yang expressed gratitude to the CoinEx community, realizing that entrepreneurship is hard but perseverance is even harder. He vowed to make user experience the core of CoinEx’s mission, driving innovation and security to protect user assets and shape a better future for the cryptocurrency industry .

In summary, Haipo Yang’s message highlights CoinEx’s unwavering commitment to its users and the broader cryptocurrency community. Despite the challenges and risks inherent to the crypto world, CoinEx’s quick response and strengthened defenses demonstrate its dedication to driving the industry through adversity. As the cryptocurrency industry continues to grow, it is clear that CoinEx is ready to welcome the future with renewed resilience and determination, as Haipo Yang stated: “Our shining moment remains not yet!”

Source:
https://tradecoind2.com/coinex-ceo-haipo-yang-admitted-the-hacking-incident-outlined-a-plan-to-escape-the-situation/