DeFi News Official TheBitTimes.com

The global economic consortium, BRICS , is reportedly mulling over introducing a new global payment system . This system could bypass the universally recognized banking protocol, SWIFT. According to TASS, a Russian state-funded media outlet, the finance ministers of the BRICS nations are currently assessing the viability of this unified payment network. Significantly, a formal discussion on its implications and potential is slated for next year’s upcoming BRICS summit. Russian Finance Minister Anton Siluanov emphasized the initiative’s intent. He stated, “We aim to incorporate our financial messaging platform, the SPFS. Moreover, our Chinese peers have established their own. Additionally, other BRICS nations either possess their systems or are in the development phase.” Hence, he reiterated that this topic will be a focal point of discussion among the financial authorities of BRICS member countries. This groundbreaking revelation follows the recent expansion of BRICS, i...

In the realm of crafting written content, three pivotal elements come into play: “intricacy,” “variability,” and “uncertainty.” Intricacy gauges the intricateness of the text, while variability explores the diversity in sentence structures. On the other hand, uncertainty pertains to the unpredictability of the following sentence. When humans compose text, they tend to exhibit a higher degree of variability, incorporating both lengthy and intricate sentences alongside shorter, more concise ones. Conversely, AI-generated text often leans towards uniformity. Thus, when it comes to generating the ensuing content, I request a substantial measure of intricacy and variability while keeping uncertainty at a minimum. Additionally, it is imperative that the text remains in English. Now, let’s reimagine the following passage: Sam Bankman -Fried’s legal representative asserts that the provided inquiries subtly insinuate his involvement in ...

In a surprising turn of events, the PEPE token has emerged as one of the Crypto Market ’s top performers over the past week. This resurgence comes after a prolonged decline that saw the meme Coin plummet nearly 90% below its June 2023 All-time high . The sudden reversal has astonished and intrigued the market, especially given the broader Crypto Market ’s recent struggles. Let’s delve into the social discussions surrounding this unique token to decipher why PEPE’s rally amidst a sea of Crypto Market declines. Notably, an on-chain tracker, Santiment, has released a report highlighting top meme Coin s’ social media discussion trends. According to Santiment’s report, shared on social media platform X (formerly Twitter), meme coins had fallen mainly off traders’ radar, except for PEPE. The chart vividly illustrates that discussions around the PEPE meme token experienced a significant uptick during the week. PEPE is the only meme coin whose soci...

The US Treasury Department has sanctioned an Ethereum wallet linked to Jiminez Castro, a Mexican with ties to the Sinaloa Cartel’s fentanyl trafficking operation. Sanctions against ten individuals, including the Cartel’s affiliates and fugitives, were announced in a press release published Tuesday by the Treasury Department. Castro, who ran an Ethereum wallet used for aiding the cartel, was among those named in the release. “Mario Alberto Jimenez Castro (Jimenez Castro) reports directly to a Chapitos deputy and operates a money laundering organization that uses virtual currency and wire transfers, among other methods, to transfer proceeds from illicit fentanyl sales in the United States to Sinaloa Cartel leaders in Mexico, the release said. “Jimenez Castro has directed U.S.-based couriers to pick up cash in the United States and deposit it into various virtual currency wallets for payment directly to the Chapitos and for reinvestment in fentanyl production....

Table of contents Introduction to GameFi and its Future Understanding Gaming Tokens and Coins The Role of NFTs in Crypto Gaming How Yellow Duckies (DUCKIES) is Shaping the Future of GameFi DUCKIES Token’s Features: Illuvium (ILV): An Emerging GameFi Token ILV Token’s Features: How Axie Infinity (AXS) Has Changed the GameFi Landscape AXS Token’s Features: Ultra (UOS): A Rising Star in the GameFi Space UOS Token’s Features: Aavegotchi (GHST): Beginning and Outlook GHST Token’s Features: Conclusion: The Future of GameFi and Crypto Gaming Introduction to GameFi and its Future As the world dives deeper into the blockchain and digital currency era, a new sector emerges with incredible potential to revolutionize the gaming industry. This sector is known as GameFi. Combining the elements of decentralized finance (DeFi) and online gaming, ‘GameF’i’ offers an exciting avenue for gamers and investors. The future of GameFi appears promising. It provides ...

InputOutputHK celebrated Cardano’s sixth anniversary by highlighting the project’s growth. The company thanked everyone involved in the project for their dedication. Cardano has grown in multiple proportions, and IOHK believes there is room for expansion. InputOutputHK (IOHK), the leading blockchain infrastructure research and engineering company behind the Cardano project, has taken to X (formerly Twitter) to celebrate the project’s sixth anniversary. IOHK congratulated the Cardano Community for the growth it has experienced over the years and the milestones achieved while thanking everyone involved in the project for their dedication. IOHK highlighted the celebration of Cardano in 2018 to mark its first anniversary. The company created an infographic showing Cardano’s key achievements in its first year of existence. Some of the highlighted points include the development of Cardano into a scalable and interoperable network. The company also showed Cardano as...

In a recent Pantera survey, less than 2% of respondents said they worked full-time in an office setting, with the rest working remotely. A typical Web3 developer has a median salary of $128,000 in 2023. According to a recent survey by Pantera Capital, the highest Web3 engineer salaries were reported in North America at $166,610, followed by $102,226 in Europe, Middle East and Africa, $90,559 in Latin America, and $75,000 in the Asia Pacific Region. The survey featured over 1,600 respondents across 77 countries; 40.1% of respondents worked in the decentralized finance (DeFi) sector, followed by centralized finance (26.1%) and blockchain infrastructure (15.2%).  Less than 2% of developer s surveyed said they worked in a physical office space full-time, while 10.6% said they worked in a hybrid in-person/remote work environment. The remaining 87.8% said their work was fully-remote. In the U.S., junior and intermediate-level Web3 developer salaries fell by 4-8% within the past year to ...

Nicholas Merten, host of DataDash, says Bitcoin is currently in a no-trend zone. BTC is at the same price tag as March 17, signaling the bull market narrative is starting to fall. Bitcoin broke through the ascending line of support and met resistance at a prior support level. According to Nicholas Merten, host of DataDash, a YouTube channel about crypto and financial markets, Bitcoin is currently in a no-trend zone. Merten noted that the flagship crypto is at the same price tag as March 17, signaling that the bull market narrative is starting to fall. In a recently uploaded video, Merten spotted crucial Bitcoin behaviors that suggest the price could move lower. He revealed that Bitcoin has broken through the ascending line of support and encountered resistance at a prior support level of the last bull market, all suggesting that the price could fall lower. Merten compared Bitcoin’s behavior with the mainstream asset market, showing a drop in the upside mo...

Countries need clear legal framework s to implement central bank digital currencies (CBDCs), according to the head of the Bank for International Settlements (BIS) during a recent conference in Basel. The event focused on updating laws for the digital currency technology. In a speech held on Sept. 27, later published on their website, BIS General Manager Agustín Carstens said national laws must allow central banks to issue digital currencies if CBDCs are to meet public demand. Most countries currently prohibit or have unclear rules around CBDC issuance. Carstens said CBDCs can expand financial access and make payments faster and cheaper. However, they require updated laws on issues like privacy and anti-money laundering safeguards. It is simply unacceptable that unclear or outdated legal framework s could hinder [CBDCs’] deployment. The work to address these issues needs to begin in earnest. And it needs to proceed at pace. Agustín Carstens — BIS General Manager Carstens ...

While the major part of the cryptocurrency sector is settling back into the sideways trading mode, Dogecoin (DOGE) is keeping up with the trend, and data suggests that using the dollar-cost averaging (DCA) strategy by investing $100 per week would not have been profitable for this digital asset in this year. As it happens, DCA is a popular investment method that deploys spreading out purchases in specific intervals and buying in equal amounts of money, often used by investors who seek to avoid the downsides of other investing strategies that mostly rely on properly timing the market, watching the prices, and analyzing chart patterns.  DCA-ing DOGE Unfortunately, this strategy is not always ideal, as the markets can go through long periods of bullishness and high prices, as opposed to relatively short bearish times when the asset is cheaper, failing to protect the investor from ending up in a loss, as is evident in the case of Dogecoin. Specifically, purchasing $100 worth of D...

A closely followed crypto strategist is warning that Bitcoin (BTC) and two other altcoins could collapse in price amid ongoing bearish market structures. Pseudonymous analyst Kaleo tells his 596,500 followers on the social media platform X that he’s expecting Bitcoin to potentially decline by more than 20% from its current value. “Still wouldn’t be surprised to see something like this play out.” Source: Kaleo/X Looking at his chart, the trader believes that Bitcoin could decline to the $20,800 level before taking off a on a surprise rally next month to around $36,000. Bitcoin is trading for $26,160 at time of writing, down 0.7% in the last 24 hours. Next, the trader says smart contract platform Ethereum (ETH) is on the verge of a dip after repeatedly testing a vulnerable support level. “ETH for example is hanging on the ledge of a cliff. I think a break lower before running it back turbo and seeing $2,000+ again is still likely.” Source: Kaleo/X ...

The Japanese Crypto Asset Business Association recently submitted a draft of ICO reforms. The association is trying to make it easier for Japanese firms to conduct initial coin offerings. JCBA’s new rules would include liquidity targets for listing as well as provisions for price stabilization. The Japanese Crypto Asset Business Association (JCBA) recently unveiled an initial draft of rules to overhaul the initial exchange offering (IEO) and initial coin offering (ICO) processes in Japan’s crypto market. The draft came after a dedicated subcommittee of the JCBA initiated discussions with Web3 firms to develop an ideal framework for IEOs and ICOs. According to the association’s official website, the initial draft of the direction for self-regulatory reform for IEOs was submitted to the Japanese Business Association. The JCBA, which was formed by the Japan Virtual Currencies Exchange Association (JVCEA), highlighted four key agendas in its latest draft. The...

The majority of BRICS members export crude oil around the world, including the U.S., Europe, and other Western allies. Saudi Arabia, the UAE, Iran, Egypt, Ethiopia, and the now-sanctioned Russia export millions of barrels of oil each year. Crude oil is currently priced at $90 per barrel, and leading investment bank JP Morgan predicted that the commodity will rise another 67% in the next three years. Also Read: BRICS Countries Dump $123 Billion in U.S. Treasuries in 2023 BRICS: Crude Oil To Reach $150 Per Barrel, According to JP Morgan Source: AFP / RODGER / BOSCH / atalayar.com Christyan Malek, JP Morgan ’s lead for EMEA energy equity research published a report citing that “energy super cycle” will lead to crude oil prices to soar to $150 per barrel. According to the report, crude oil could reach $150 per barrel in the next three years in 2026. The growing energy supercycle could be the sole driving force for the price surge, wrote Malek in the report. ...

The British law firm that represented Diana, Princess of Wales, is now going after OneCoin masterminds. Mishcon de Reya, a London-headquartered international law firm, is about to file a class-action lawsuit on behalf of OneCoin investors who suffered losses as a result of the crypto fraud. In a press release published on Monday, Sept. 25, the firm said that a civil claim would be brought in London’s High Court in an effort to “recover for investors the losses they suffered at the hands of those who perpetrated the fraud.” Mishcon noted the case would be brought on a “no win, no fee” basis, which means the firm gets paid only if it achieves a satisfactory result. “The fraudulent OneCoin scheme concocted by Ruja Ignatova and others greatly impacted the lives of its victims who ranged from sophisticated to lay investors. The forthcoming claim in the High Court in London aims to achieve at least partial redress for those investors who were taken in...

Sep 25, 2023 at 07:46 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, Ethereum (ETH) price is falling rapidly after losing critical support at $1,600. Long-term analysis of the Ethereum price: bearish The bulls had previously broken the 21-day line SMA but were unable to sustain their upward momentum. The bulls had to admit defeat as the cryptocurrency fell to a low of $1,580 at the time of writing. Had the bulls prevailed, the cryptocurrency would have risen above the moving average lines. The positive momentum could continue ab...

BRICS expanded from a 5-member group to an 11-member alliance during the 15th summit in Johannesburg in August. The bloc is now more economically powerful in GDP, oil exports, and commodities, among others, challenging the Western financial sector. While things seem to be going well for BRICS on paper, the reality is starkly different. The group has faced criticism of various kinds for not achieving the things that it sets out to do. In this article, we will highlight the top 3 sharpest criticisms that BRICS face in international markets. Also Read: 2 BRICS Countries To Be Ahead of U.S. GDP in 2075 3 Biggest Criticisms That BRICS Face Source: news.bitcoin.com Talk Shop: BRICS has been accused of being a group of ‘all talk and no show’ for nearly a decade. Leaders meet at the summit and decide the point of action never to follow it up until the next summit. Developing countries have leaders who talk big but provide little action on the ground. The same ideology is a ...

1. Arbitrum Announces Odyssey Reboot on September 26th link On September 20th, Arbitrum announced that it will relaunch Odyssey on September 26th. Arbitrum Odyssey, in collaboration with Galxe, will run for 7 weeks, covering 13 project communities and collecting custom badges created by Ratwell and frens. Arbitrum has emphasized that there will be no airdrops in the Odyssey event, only badges upon completion of tasks. In June of last year, due to the chase for Arbitrum airdrops, the heavy on-chain load led to higher than normal gas fees, forcing the termination of the Odyssey event. 2. Optimism’s Weekly Summary a. Optimism Completes 116 Million OP Private Token Sale link On September 21st, Optimism announced that it has conducted a private token sale of 116 million OP tokens, valued at $162 million, as part of their planned transactions. This private token sale involved 7 buyers and is intended for fund management purposes. The tokens will be locked for a period of 2 years, but during ...