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Coinbase secures AML registration from the Bank of Spain
The Anti-Money Laundering registration will allow cryptocurrency exchange Coinbase to offer its services to retail and institutional investors in Spain.
Cryptocurrency exchange Coinbase has secured an Anti-Money Laundering (AML) compliance registration from Spain’s central bank as part of its ongoing expansion across Europe.
According to a Sept. 22 statement, the registration with the Bank of Spain now means that Spanish users will be able to retain custody of their crypto assets on Coinbase, as well as buy and sell crypto assets in euro.
“This registration will allow Coinbase to offer our full suite of products and services to retail and institutional users in Spain, all in compliance with the national legal framework”
It highlighted that almost one-third of individuals in Spain have a positive outlook on digital assets. “29% of adults in Spain believe crypto is the future of finance,” it stated. Read More
How is DeFi margin trading getting safer with this cross-chain protocol?
DeFi margin trading can’t reach its full potential due to overcollateralization and drastic liquidation conditions. This platform aims to change the space.
DeFi margin trading is hindered by persistent problems like overcollateralization and risk of liquidation. Some decentralized apps are managing to address these challenges.
Decentralized finance (DeFi) reinvents financial services by relying on decentralized and trustless networks to cut intermediaries and give full control to users. This emerging blockchain sector is a powerful alternative to traditional finance. A popular use case in DeFi is lending, which accounts for about 25% of the total value locked (TVL) in DeFi protocols.
One of the reasons why DeFi lending is attractive is because it facilitates on-chain margin trading, enabling crypto holders to seek higher returns by taking more risk. This involves leveraging crypto assets to potentially amplify gains.
Margin trading is an essential feature in centralized finance, but implementing this approach in DeFi is trickier, as the sector has some inherent challenges. To begin with, one of the problems of DeFi loans is overcollateralization. Users often have to lock 150% or more of the loan value before they receive funding. This overcollateralization is the price to pay for taking loans without a credit score or passing through Know-Your-Customer (KYC) procedures. Read More
From walls to wallets: Barcelona graffiti artists share their love for Bitcoin
Nine months after launching, the Street Cy₿er artist collective has over 100 street artists, musicians and Bitcoin enthusiasts involved.
From skate parks and construction sites to train stations and bus stops, a pair of Bitcoin-loving graffiti artists from Barcelona, Spain have been working tirelessly to spread the good word about Bitcoin.
Street Cy₿er, a collective of artists and enthusiasts, has been creating Bitcoin street art all over Europe since its formation in January 2023 to raise awareness about the cryptocurrency.
One of Street Cy₿er’s co-founders, “Street,” told Cointelegraph that the crew is made up of over 100 educators, enthusiasts, artists, musicians, activists and journalists. Their efforts can be seen across Barcelona, London, Berlin, Madrid, Prague, Riga (Latvia) and Tallin (Estonia).
Much of their artwork, which they share on social media, aims to deliver powerful statements about the traditional financial system’s purported failures and where Bitcoin can step in. Other pieces of art simply look to raise awareness about cryptocurrency. Street told Cointelegraph:
“Street art is also a way to bypass the traditional media, which is often controlled by powerful interests.” Read More
Inscription Craze Leaves Thousands of Bitcoin Transactions Unconfirmed
The network currently has 393,000 unconfirmed transactions stretching as far back as April. For some, that’s a good thing.
Over the years, Bitcoin’s network has been no stranger to long lines of transactions waiting to get confirmed, which forces fees to skyrocket and triggers alarms across Crypto Twitter and beyond. And the network is currently going through another bout of congestion, observed Bitcoin on-chain analyst Willy Woo.
“The mempool is now at the highest point in the history of BTC since data was recorded,” he told Decrypt.
What’s going on?
James Check, lead analyst for Glassnode, posted on Twitter earlier this week that there has been an explosion in blockspace demand due to inscriptions. These were popularized by Bitcoin Ordinals, and like NFTs, they allow users to “inscribe” things onto the blockchain–whether that’s images, texts, or audio.
He wrote that fees are not as high as they were during the Ordinal craze of early May, but the network has not been able to clear its mempool since. Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues wth its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns.
Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds.
The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.
It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience.
CEO of Markethive, Thomas Prendergast, and the team of engineers have made substantial headway with the wallet. It is all but done, and the release is imminent. It’s not a simple wallet that just transfers coins. It is a complete portfolio and accounts of all your transactions, payments, and affairs, including your ILPs. The wallet comprises fourteen major foundational processes and is your internal wallet on the Markethive database. Read More
Decoding Atomicals: Unpacking the Newest Addition to Bitcoin's Tech Suite
Following the introduction of Ordinal inscriptions, BRC20 tokens, and Stamps on the Bitcoin blockchain, the community has seen the debut of a new digital object technology named Atomicals.
Since the close of 2022, Bitcoin has seen the rollout of several technologies that use data embedding schemes to craft new coins, non-fungible tokens, and name service domains. One of the standout technologies today is the Ordinal inscriptions on Bitcoin.
To date, about 34.55 million Ordinal inscriptions are linked to the distributed ledger. Ordinals have also produced tens of thousands of new coins called BRC20s. Additionally, there are Bitcoin Stamps, a data embedding method that also taps into the Counterparty blockchain network. So far, about 74,640 Stamps have been minted on the chain.
A recent addition to this lineup is a data-embedding technology named Atomicals, which can produce coins dubbed ARC20 tokens. The Atomicals technology can also be harnessed to mint NFTs, and it introduces a name service domain structure called Realms. Read More
Bitcoin ETFs Explained: A Closer Look at BTC Exchange-Traded Products
Exchange-traded funds, or ETFs, that track the price of bitcoin have become a popular means for mainstream investors to gain exposure to the cryptocurrency market without directly owning bitcoin. Though the U.S. Securities and Exchange Commission has not approved a spot bitcoin ETF in the U.S., futures-based and international bitcoin ETFs are offering investors new participation methods.
The Basics: Defining a Bitcoin ETF
An ETF is an investment fund traded on stock exchanges, similar to stocks. A bitcoin ETF doesn’t directly trade bitcoin; rather, it tracks bitcoin futures contracts or holds private keys associated with the cryptocurrency. This setup grants regular investors and institutions access to bitcoin exposure without dealing with cryptocurrency exchanges or wallets.
There are two main types of bitcoin ETFs: futures-based and spot bitcoin ETFs. Futures-based bitcoin ETFs, such as the Proshares “Bitcoin Strategy ETF,” which debuted in 2021, don’t directly invest in bitcoin. Instead, they track bitcoin futures contracts traded on platforms like the Chicago Mercantile Exchange (CME). A spot bitcoin ETF directly holds actual bitcoin assets on behalf of its investors. Unlike futures-based funds, it provides direct exposure to the crypto asset’s real-time price movements. Read More
Interoperable Chain Polkadot (DOT) Says Roadmap in Place To Support 1,000 Parachains
Developers of the interoperability blockchain Polkadot (DOT) will test a new process that aims to significantly improve the scalability of the network and expand the number of supported parallel chains.
Speaking at the Polkadot Developer Conference, Sophia Gold, engineering lead at Polkadot contributor Parity Technologies, says asynchronous backing will allow the blockchain to increase the number of validators to around 1,000 by the end of this year.
Currently, Polkadot can support up to 100 parachains or application-specific chains connected to the Polkadot network. With asynchronous backing, Gold says the stage is being set for Polkadot to support as many as 1,000 parachains.
“What’s unique about backing in Polkadot is that it’s enshrined – it’s implemented natively on the protocol level and not on the smart contract level, which gives us capital efficiency and censorship resistance. Asynchronous backing enables flexible scheduling for our future scaling work through elastic scaling and instantaneous coretime." Read More
DeFi Hacks Usually Come Down to Poor Security: Halborn COO
Halborn COO David Schwed highlights overlooked centralized chokepoints in “decentralized” Web3 projects.
The tech industry has had its eyes fixed on artificial intelligence, and cybersecurity professionals are lining up to find vulnerabilities and patch security holes in AI platforms like OpenAI's ChatGPT. But blockchain cybersecurity firm Halborn has kept its eyes on the ball, continuing to look for ways to support and secure Web3 projects.
“I think as the ecosystem starts to mature, we'll start to see a slowdown of some of the dumb mistakes that a lot of projects are making, a lot of organizations are making,” Halborn COO David Schwed told Decrypt at Messari Mainnet. “This is a controversial statement, but many hacks are preventable.”
Schwed pointed to a report by the blockchain security firm that said over $5 billion had been lost in DeFi hacks between 2016 and 2022. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
