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Powers On… Summer musings after two particularly bad months in cryptoland
This column’s goal has never been to provide investment advice on cryptocurrencies or other digital assets, nor has it been to provide individualized legal advice. It has mostly been about my desire to freely set forth in writing my thoughts on the state of the crypto market and the legal affairs surrounding it.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain & the Law.”
So let me state the obvious: It has been a particularly bad past two months in cryptoland. Both in activities relating to digital assets and crypto prices. However there are silver linings to consider. And when considered, perhaps readers will gain a greater perspective and not act in a reactionary way with their digital assets or blockchain business.
Powers On… Summer musings after two particularly bad months in cryptoland
This column’s goal has never been to provide investment advice on cryptocurrencies or other digital assets, nor has it been to provide individualized legal advice. It has mostly been about my desire to freely set forth in writing my thoughts on the state of the crypto market and the legal affairs surrounding it.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain & the Law.”
So let me state the obvious: It has been a particularly bad past two months in cryptoland. Both in activities relating to digital assets and crypto prices. However there are silver linings to consider. And when considered, perhaps readers will gain a greater perspective and not act in a reactionary way with their digital assets or blockchain business.
Powers On… Summer musings after two particularly bad months in cryptoland
This column’s goal has never been to provide investment advice on cryptocurrencies or other digital assets, nor has it been to provide individualized legal advice. It has mostly been about my desire to freely set forth in writing my thoughts on the state of the crypto market and the legal affairs surrounding it.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain & the Law.”
So let me state the obvious: It has been a particularly bad past two months in cryptoland. Both in activities relating to digital assets and crypto prices. However there are silver linings to consider. And when considered, perhaps readers will gain a greater perspective and not act in a reactionary way with their digital assets or blockchain business.
Solflare to let users manage Solana CeFi and DeFi accounts in one app with FTX integration
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On Thursday, Solana-native wallet Solflare released a new integration with cryptocurrency exchange FTX.com and FTX.us to simply portfolio management for Solana users. As told by Solflare, it would make transfers between one's custodial and non-custodial balances trivial by enabling users to manage FTX funds directly from their Solflare web extension and later via the mobile wallet. Of course, FTX know-your-customer rules would still apply to link one's exchange accounts with Solflare.
In addition, token swap on FTX accounts within the Solflare wallet would not be affected by Solana's infamous network congestions as liquidity is sourced from FTX instead of Solana. Though deposits and withdrawals onto the Solana network may still be slow at times. The wallet supports FTX nonfungible tokens withdrawal, deposits, and visualization functionality.
For decentralized finance, or DeFi, users, the integration would improve Solflare's ability to conduct coordinated airdrops and other yield incentives. Filip Dragoslavic, co-founder of Solflare, commented:
"FTX is probably one of the most popular centralized exchanges for DeFi users, especially on Solana. Integrating the two connects both worlds where you can command your FTX account without leaving Solflare. Confirming your wallet address is one unique human registered on FTX might enable new regulatory-compliant Web 3.0 opportunities."
Solflare to let users manage Solana CeFi and DeFi accounts in one app with FTX integration
Transfer between custodied and non-custodied accounts can now take place within the Solflare wallet
Bitstamp cancels ‘inactivity fee’ plans after huge backlash
Bitstamp makes a U-turn on the planned €10 'inactivity fee' against users after widespread criticism, cites administrative fees as the reason for the proposed move.
Ethereum 2.0 stakers face a 36.5% larger loss than ETH spot investors — report
The Ether losses risk becoming steeper due to unfavorable technical and macroeconomic indicators.
Ethereum 2.0 stakers face a 36.5% larger loss than ETH spot investors — report
Ethereum investors who staked millions of dollars worth of Ether (ETH) tokens to become validators on its soon-to-launch proof-of-stake (PoS) network are now facing heavy paper losses.
Ether spot traders outperform stakers by 36.5%
In detail, investors have locked a little over 13 million ETH into the so-called Ethereum 2.0 smart contract since it went live in December 2020. However, there is no date when these investors can redeem their tokens alongside the 10% yield.
Interestingly, around 62% of Ether tokens were deposited before the price peaked at around $4,930 in November 2021. Meanwhile, the other 38% were deposited after the record high, according to Glassnode's latest report.
Ethereum 2.0 total value staked. Source: GlassnodeAs a result, the total value locked inside the Ethereum 2.0 smart contract peaked at $39.7 billion in November 2021, led by 263,918 network validators. But now, the value has dropped to $14.85 billion as of July 7, despite an additional inflow of 5 million ETH in the last eight months.
Ethereum 2.0 stakers deposited ETH to the network's PoS contract at an average price of $2,390. So, ETH stakers are now holding an average loss of 55% as a result of ETH's 75% crash since November 2021, Glassnode noted.
Satoshi milkshake experiment shows kids can HODL Bitcoin too
The famous Stanford Marshmallow Experiment takes the orange pill during a study of 25 school kids on the Isle of Man.
Policy think tank asks Philippine government to ban Binance over promotions
Binance responded to the letter saying that they take compliance seriously and are looking to secure licenses in the country.
Policy think tank asks Philippine government to ban Binance over promotions
Binance responded to the letter saying that they take compliance seriously and are looking to secure licenses in the country.
Animoca, WeMade, Samsung Next back Web3 studio to develop open-source games
The company plans to use the funds to build a gaming ecosystem based on Libplanet blockchain technology.
British investment managers call for the blockchain-traded funds' approval
The Investment Association believes the new technology will bring significant cost savings for end investors.
British investment managers call for the blockchain-traded funds' approval
The Investment Association believes the new technology will bring significant cost savings for end investors.
Key Bitcoin chart 'will confirm bottom is in' by July 15, says trader
It's all about two moving averages crossing over as proof that BTC price action is done with the dip.
Key Bitcoin chart 'will confirm bottom is in' by July 15, says trader
Bitcoin (BTC) is due to give a definitive signal that a macro bottom is in this month, one analyst has concluded.
In a Twitter thread on July 6, popular commentator Wolf eyed key moving average data as proof that BTC price action will not be going lower.
Key chart crossover eyed as end to bear market losses
Amid repeated calls for BTC/USD to revisit levels not seen since Q4 2020, one simple historical trend is now saying that the pair has already seen its latest macro lows.
Analyzing the 3-day chart, Wolf argued that the 100-day moving average (MA) crossing the 200MA will act as a price floor signal — just like in previous bear markets.
“Negative 3d MA100 will cross positive 3d MA200 by half July, that would confirm that bottom is in,” he wrote.