Kraken, the second-largest U.S.-based crypto exchange, has unveiled its own crypto wallet, joining the ranks of competitors such as Coinbase(NASDAQ:COIN) and MetaMask in the saturated market.
The newly launched self-custodial “Kraken Wallet,” debuting on Wednesday, offers support for eight blockchains including Bitcoin, Ethereum, Solana, and Dogecoin. Notably, it is the first wallet from a major exchange to be open-sourced, allowing developers to access and contribute to the code. Kraken also incentivizes developers to identify vulnerabilities through its open-source grant program.
Focused on user privacy, Kraken Wallet collects minimal data necessary for functionality, shielding IP addresses and protecting users’ identity and location information. This emphasis aligns with the principles of the crypto space, emphasizing self-custody and privacy.
While Coinbase’s Coinbase Wallet remains popular, other major exchanges like Binance and OKX also offer wallets integrated into their ecosystems. Kraken’s move into the wallet space reflects its commitment to providing users with access to on-chain ecosystems and maintaining a user-centric approach.
Kraken has been expanding its product offerings, including discussions with layer 2 teams to explore building its own layer 2 blockchain. The development of Kraken Wallet underscores the importance of self-custody in the crypto ecosystem, particularly in light of the risks associated with leaving assets on centralized exchanges highlighted by past incidents such as the collapse of FTX crypto exchange in 2022.
Eric Kuhn, Product Director for Kraken Wallet, emphasized the significance of the “your keys, your crypto” ethos and expressed Kraken’s commitment to building the best all-in-one crypto wallet that is open-source, secure, and private.
The cryptocurrency market contracted by nearly 2% on Wednesday, descending to a total value of $2.23 trillion. Bitcoin reached a daily low of $60,760 per unit, while ether declined to $2,944 per coin. Cryptocurrency Market Loses More Than $400 Billion in a Week Amidst Severe Volatility Since the previous week, the crypto market has experienced […]
The chairman of the Australian Securities and Investments Commission (ASIC) has said his organization views cryptocurrency as a debenture hence it falls under regulatory purview. The ASIC chairman also argued that many cryptocurrency investors are unaware of what they are getting into. Crypto Falls Under the ASIC Regulatory Oversight Joe Longo, chairman of the Australian […]
Chicago, United States, April 17th, 2024, Chainwire
Liquid Mercury, a leading crypto trading technology provider, announced today that it is providing a request for quote (RFQ) platform to GFO-X, the UK’s first regulated and centrally cleared trading venue dedicated to digital assets derivatives. Institutional traders will be able to source deep liquidity for trading listed options and futures contracts in large trade sizes that can be transacted as single-leg or complex, multi-leg strategies.
Liquid Mercury’s institutional-grade platform combined with GFO-X’s regulated derivatives marketplace provides a secure and efficient trading environment for institutional trading firms and professional investors. This technology allows market participants to manage digital asset exposure and hedge underlying portfolio risks.
Liquidity providers can provide two-sided quotes in response to RFQs generated by hedge funds, asset managers, and other buy-side participants initiated from Liquid Mercury’s professional-grade trading interface or FIX and web socket APIs. Trades will print on GFO-X’s exchange and be cleared through a GFO-X general clearing member at LCH SA, LCH Group’s continental Europe clearing house and part of the largest and most sophisticated clearing services in financial markets. Brokers will also use Liquid Mercury’s platform to intermediate trades between buyers and sellers in order to cross-block trades on GFO-X’s exchange and conduct other sell-side trading workflows.
“Looking at the equity derivatives market, where the growth in number of options exchanges has fueled the growth in trading participants, added more liquidity in the market, and driven record volumes of contracts traded, I see GFO-X’s entrance into crypto derivatives as a key development for a more vibrant exchange landscape. This is a prime opportunity to grow the entire crypto options market,” said Liquid Mercury CEO, Tony Saliba. “In addition to providing the technology solution that will power GFO-X’s block liquidity network, Liquid Mercury will be operating as a strategic partner, introducing our clients and broad network of traditional market players as new participants to GFO-X’s exchange.”
“We chose Liquid Mercury as a partner due to the team’s pedigree in building successful technology-focused franchises in traditional markets, combined with a track record of delivering institutional-grade solutions to the professional crypto trading community,” said GFO-X CEO, Arnab Sen. “Our shared vision of a regulated derivatives market that is purpose-built for digital assets using the best market standards and technology from traditional finance underpins what we expect to be a long and very fruitful strategic partnership.”
For more information about Liquid Mercury’s suite of crypto trading technology solutions, users can visit www.liquidmercury.com.
About Liquid Mercury
Liquid Mercury powers professional crypto trading. Liquid Mercury is the #1 choice for sophisticated buy-side and institutional sell-side legacy trading professionals moving into crypto. Institutional grade infrastructure, access to deep liquidity, and best-in-class trading tools and workflow automation; Liquid Mercury was built by professionals for professionals. For more information about Liquid Mercury, visit www.liquidmercury.com.
About GFO-X
Global Futures and Options Ltd (GFO-X) is the UK’s first regulated and centrally cleared trading venue dedicated to digital asset derivatives. UK FCA authorised and regulated, GFO-X is connected to the world’s largest financial institutions and has partnered with leading clearing house LCH SA, solving for counterparty and credit risk.
GFO-X services the significant unmet need of large global institutional participants who require a highly regulated, institutional-grade trading venue for digital asset derivatives.
GFO-X’s mission is to deliver enhanced liquidity, institutional connectivity and risk mitigation through high-performance technology and optimized contract specifications.
In the first quarter of 2024, the South Korean Won surpassed the US dollar as the leading currency for global cryptocurrency trades, with a cumulative trade volume of $456 billion according to research firm Kaiko, reflecting a growing speculative interest in risky crypto assets in South Korea. The increase in Korean won-denominated trades has been […]
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Our partnership with IBM facilitates the delivery of scalable solutions, rapidly implementable by organizations. This addresses data management, conversational interface and natural language processing needs with efficiency. Our solution is a combination of IBM Db2, IBM watsonx™ Assistant and NeuralSeek.
A coordinated partnership: How these tools work together
By using IBM Db2, IBM watsonx Assistant and NeuralSeek, we offer a comprehensive solution that streamlines data management, enhances accessibility, and helps to ensure security and integrity across your enterprise.
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IBM watsonx Assistant: Using AI to understand and respond to natural language queries, including those related to databases. Watsonx Assistant retrieves information from Db2 databases to answer user queries and performs actions based on user requests. Also, Db2 seamlessly integrates with watsonx Assistant’s natural language processing capabilities to analyze unstructured data and derive insights.
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This approach seamlessly delivered personalized product descriptions, facilitating retrieving relevant information and providing tailored assistance. Retrieval augmented generation technology improved call center efficiency, alleviated customer frustration and provided invaluable insights into shopper behavior. Streamlined access to effective product descriptions maintained a competitive advantage in online retail.
Implementation of IBM Db2, IBM watsonx Assistant and NeuralSeek enabled the company to promptly address customer needs in a highly personalized manner, thereby empowering informed decision-making through a profound understanding of its online shopper demographic. This holistic approach not only helped to ensure customer satisfaction but also solidified the company’s position as an innovative industry leader committed to excellence.
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Crypto exchange OKX finally opened its Ethereum layer-2 network X Layer mainnet to the general public on April 15.
The scaling solution’s testnet was launched in November 2023 to much acclaim and was built with Polygon’s Chain Development Kit (CDK). This toolkit empowers developers to construct their chains using zero-knowledge technology.
OKX Chief Marketing Officer Haider Rafique explained that the firm built its layer-2 network because it believes the “best way to achieve mainstream adoption is to help scale the largest existing Web3 community, Ethereum, instead of competing with it.”
Consequently, the firm seeks to leverage Polygon and Ethereum communities to bring its 50 million users on-chain.
X Layer
X Layer is a highly performant and secure Ethereum-based Zero Knowledge (ZK) Layer-2 network.
The platform already enjoys some level of adoption, with over 200 decentralized applications, including famous names such as Etherfi, Chainlink, Curve Finance, Eigen Layer, and Renzo Protocol, building on it.
“Now that the X LAYER public mainnet is live, our focus is to onboard as many developers and users as possible. Our aim is to add value by providing a seamless and efficient experience on-chain, to encourage and facilitate new innovations based on L2 and ZK technologies.”
Moreover, the exchange’s native OKB token will be used for gas payments on the layer-2 network. This mainnet’s launch triggered a positive surge in OKB’s value, registering a 5% uptick despite the prevailing market downturn affecting large-cap digital assets.
There had been some controversy over the chain’s branding, which had initially been promoted as X1. Another platform built by XEN developers, originally going by XONE, now known as X1, had raised concerns over users potentially confusing the two chains. OKX has finally settled on X Layer, seemingly to avoid any branding issues following a lawsuit from the XEN developers.
Layer-2 networks
Layer-2 blockchain networks are engineered to bolster Ethereum’s scalability, a trend that has surged in popularity and integration within the crypto sphere.
According to data from L2Beat, these networks collectively facilitate 117 transactions per second, marking a substantial leap over Ethereum’s mainchain by a factor of 9.67.
Moreover, the total value of assets secured on these networks soared to an unprecedented $45 billion before slightly declining to $37 billion at the time of reporting.
In a recent update to its terms of service, PayPal has announced significant changes to its buyer and seller protection policies for non-fungible token (NFT) transactions, effective May 20.
Under the new policy, NFT purchases will no longer be covered by PayPal’s buyer protection program. Additionally, NFT sales exceeding $10,000 will no longer be safeguarded against false claims, chargebacks, or other fraudulent activities that may result in financial losses for sellers.
A spokesperson for PayPal cited the evolving nature of the NFT industry and the uncertainty surrounding proof of order fulfillment as reasons for the policy change.
While the company published a notice about these changes on March 21, the updates went largely unnoticed until now.
According to PayPal’s policy updates page, the revisions to its Purchase Protection Program and Seller Protection Program will come into effect on May 20, 2024. The Seller Protection Program will exclude NFT transactions with a value of $10,000.01 or above unless the buyer claims an Unauthorized Transaction and meets all other eligibility requirements.
Previously, PayPal provided buyer and seller protections for NFT transactions, with the buyer protection program offering refunds for falsely advertised items, and the seller protection program reimbursing sellers affected by payment disputes and fraudulent refund requests.
Despite these changes, PayPal has demonstrated an increasing interest in blockchain-based digital assets in recent years. In 2022, the company introduced support for cryptocurrencies on its platform and filed a patent application for an NFT purchase and transfer system that includes provisions for user royalties.
Skybridge Capital founder Anthony Scaramucci firmly believes that bitcoin will be both an inflation hedge and a store of value as the cryptocurrency scales. He emphasized that bitcoin is “still an early stage technical asset that will trade like other risk assets until it exceeds a billion users.” Scaramucci Doubles Down on Bitcoin as Inflation […]
Ethereum fell against Bitcoin to its lowest point in three years amid the carnage that followed Bitcoin’s fall from $70,000 over the weekend. The ETH-BTC chart reached as low as 0.0462 BTC on Saturday, April 13, down 24% from the year-to-date high of 0.085 BTC.
ETH-BTC 2022 – 2024
Ethereum’s all-time high against Bitcoin came in 2017 when it touched 0.16 BTC before closing the year around similar levels to now at 0.048 BTC. It has since recorded lows around 0.018 BTC in late 2019 before rising significantly throughout the 2020 – 2021 bull market.
ETH-BTC historical chart
The cycle peak of 0.088 BTC was met with a steady decline throughout 2023, 2022, and 2024. The 0.05 BTC level had been acting as a lower support level until it was breached this month. While the price remains within 7% of the support, it has been almost three years since we’ve seen these prices.
ETH-BTC 2020 cycle
The decline has been gradual and steady since the start of 2023, with a few bullish breakouts shut down within a couple of months.
ETH-BTC 2023 – 2024
While Ethereum remains below the 0.05 BTC support level, it has recovered almost 7% from its weekend lows, holding relatively steady amid Bitcoin’s continued struggles. Bitcoin fell from $70,000 to $61,700 over the weekend before recovering to $66,000. However, Bitcoin has retested $61,700 again and is trading around $62,000 as of press time. Ethereum initially followed Bitcoin down from $3,600 to $2,800 – it has since consolidated around the $3,000 mark, aiding it in its price war with Bitcoin.
ETH-BTC April 2024
While the overall crypto market often follows Bitcoin, much of the altcoin market follows Ethereum. The ETH-BTC chart highly influences the delicate relationship between digital asset price movements, and it is one of the staples of the industry. Bitcoin dominance, another critical factor, reached a 3-year high this weekend, touching 57%, while Ethereum dominance dropped to just 15% from a recent high of 19%.
The post Ethereum falls to lowest level against Bitcoin in 3 years amid panic selling appeared first on CryptoSlate.
WOO plans innovation hub expansion to bolster Bitcoin’s ecosystem
The new initiative will focus on projects bringing Bitcoin Layer-2s, RWA, DeFi, AI and DePIN to the Bitcoin ecosystem.
WOO has announced plans aimed at using its innovation hub and the WOO token to power the next growth chapter for the Bitcoin (BTC) ecosystem.
WOO, which features a top CEX platform WOO X and top DEX platform WOOFi, revealed its latest initiative at Token2049 week in Dubai.
What are WOO’s plans to bolster BTC ecosystem?
According to a recently published announcement, WOO’s Europe-based innovation center will be expanded to tap into the native WOO token’s potential in driving the new era of decentralized projects on Bitcoin.
We’re excited to expand our innovation hub to vastly increase the number of WOO-aligned products in the coming months.
Expect greater alignment with high-potential projects under verticals such as RWA, AI, DePIN, and the emerging BTC ecosystem: https://t.co/pIPc8sURJQ
WOO’s strategic plans will initially target new growth verticals such as artificial intelligence (AI), Bitcoin L2s, Real World Assets (RWA), Decentralized Physical Infrastructure Networks (DePIN) and DeFi within the BTC ecosystem.
The project’s goal is to ramp up WOO-aligned products across these verticals, with development focused on leveraging the WOO token. Projects will receive grants among other support, to work on these objectives, Ben Yorke, VP of Ecosystem, said in a statement.
“Our ecosystem can provide resources, such as access to liquidity, market makers, users, and partners, which will create a powerful flywheel effect as more high-quality builders become aligned with WOO,” Yorke noted.
Projects or teams that join the WOO Innovation hub will be selected on the basis of their commitment to AI, RWA, DeFi, and BTC L2 innovation. The criteria will also include their capacity and ability to integrate the WOO token, Yorke added.
The Bitcoin ecosystem has attracted a lot of developer attention in recent months, with innovative projects looking to tap into the top blockchain network’s security and traction. Experts have also opined that the burgeoning BTC L2 ecosystem could be a huge market in coming years.
As well as the highlighted sectors, there’s gaming and NFTs, the latter seeing great developments since the launch of Bitcoin Ordinals.
Ankr and Brevis coChain join hands to revolutionize Web3 with zero-knowledge technology.
Brevis enables smart contracts to utilize blockchain data securely for innovative applications.
Ankr’s RaaS platform enhances scalability and interoperability for decentralized services.
Ankr, a leading player in the blockchain space, has teamed up with Brevis coChain to revolutionize Web3 networks.
The collaboration marks a significant milestone in the blockchain industry, as it aims to address key challenges such as scalability, security, and interoperability.
Pioneering ZK technology coprocessing technology
Brevis coChain, renowned for its zero-knowledge (ZK) coprocessing technology, brings a game-changing solution to the table.
By leveraging ZK coprocessing, smart contracts can now access and utilize historical blockchain data for computations in a secure environment. This breakthrough not only enhances the functionality of smart contracts but also opens up new avenues for decentralized applications (DApps) across various blockchain networks.
Ankr’s role as mainnet AVS operator
In the partnership, Ankr assumes the crucial role of the Mainnet AVS Operator. Ankr’s expertise in providing robust infrastructure for blockchain networks ensures the smooth functioning of Brevis coChain’s innovative solutions.
Through Ankr’s Rollups as a Service (RaaS) platform, developers can create complex DApps that leverage Brevis coChain’s zero-knowledge coprocessing capabilities, thereby enhancing the overall performance and efficiency of Web3 networks.
Brevis coChain’s integration with EigenLayer further enhances its capabilities. By utilizing EigenLayer’s cutting-edge technology, the coChain AVS (Account Verification System) enables seamless verification of transactions through zk-rollup proofs. This not only reduces operational costs but also improves processing time, making it a win-win solution for users and developers alike.
The collaboration between Ankr and Brevis coChain is not just about technological advancements; it’s about fostering a more inclusive and interconnected blockchain ecosystem. By promoting cross-chain compatibility and secure information sharing, they pave the way for the widespread adoption of decentralized finance (DeFi) and other blockchain applications.
Academy award-winning composer Hans Zimmer has created an anthem for TRON, founded by the controversial entrepreneur Justin Sun, a prominent figure in the cryptocurrency space known for his brash personality. The Tron Anthem by Zimmer, dubbed the song for the “Web3 Generation,” aims to encapsulate the trials Sun has faced, amidst Sun being sued by […]
