CryptoSlate Wrapped Daily: Do Kwon wants conference with law enforcement; pressure on miners to rise after excepted upcoming difficulty spike

1 year ago

The biggest quality successful the cryptoverse for Nov. 4 includes Bitcoin’s outperformance of Nasdaq aft the Fed raised involvement rates, Do Kwon’s invitation to each instrumentality enforcement successful the satellite to articulation an online conference, and DOGE’s 9% autumn amid Twitter’s class-action lawsuit.

CryptoSlate Top Stories

Bitcoin outperformed NASDAQ aft Fed raised rates by 0.75%

NASDAQ and Gold prices reacted to the Fed’s latest 0.75% involvement complaint hike by sinking, portion Bitcoin (BTC) performed amended than some and recorded a spike.

NASDAQ and Gold fell by 4.79% and 0.68%, respectively. In the meantime, Bitcoin accrued by 0.55%.

Terra Do Kwon wants to invitation the constabulary for a conference

On Nov.3, Korean prosecutors claimed that they obtained a backstage speech betwixt Do Kwon and 1 of his employees, proving that Kwon purposely manipulated the Terra (LUNA) price. The prosecutor’s bureau besides said that the speech proved Kwon was an amerciable migrant successful Europe.

On Nov.4, Kwon Tweeted to accidental that he’d clasp a virtual league to extremity each talks of him being successful hiding.

Alright sick propulsion a meetup/conference soon to get implicit this successful hiding bs

Cops from satellite implicit invited to attend

— Do Kwon (@stablekwon) November 3, 2022

Kwon didn’t disclose a day for the virtual league but invited each instrumentality enforcement worldwide to join.

Twitter facing suit implicit unit layoffs, Dogecoin sinks 9%

After Elon Musk took implicit Twitter, helium announced that helium was readying to chopped 50% of its workforce, which implies that he’ll occurrence 3,700 people. Twitter is present facing a class-action suit implicit this, arsenic the employers took ineligible enactment connected Nov. 4.

Musk’s favourite Dogecoin (DOGE) reacted to this quality by falling 9% successful the past 24 hours.

Bitcoin mining trouble expected to spike Nov. 6, summation unit connected miners

Bitcoin mining trouble volition set connected Sunday, Nov. 6. and it is expected to summation to grounds a caller all-time-high 3rd clip successful a row.

CryptoSlate analysts examined the mining trouble and hash complaint information and realized that bitcoin trouble recorded a flimsy alteration connected Nov. 4 portion the hash complaint kept increasing.

This indicates that the unit connected miners hasn’t been relieved and that the mining trouble volition apt summation this Sunday.

More entities backmost Ripple arsenic SEC seeks extension

Ripple (XRP) and the Securities and Exchange Commission (SEC) person been progressive successful a suit since 2019.

Since then, a full of 12 companies person filed amicus briefs to enactment Ripple’s standing. Ripple’s wide counsel, Stuart Alderoty, said:

“A twelve autarkic voices – companies, developers, exchanges, nationalist involvement and commercialized assoc.’s, retail holders – each filing successful SEC v Ripple to explicate however dangerously incorrect the SEC is. The SEC’s response? We request much time, not to perceive oregon engage, but to blindly bulldoze on.”

Canada launches consultations connected crypto, stablecoins, CBDCs

The Canadian authorities announced launching a consultation work connected each crypto-related topics, including stablecoins and Central Bank Digital Currencies (CBDC).

The consultations volition code illicit crypto activities and supply a legislative reappraisal of the digitalization of money.

Mempool Studio motorboat presale for web3 yearbook, almanac

Mempol Studio is collecting milestone events of the web3 abstraction successful a 300-page constricted variation hardcover yearbook. The yearbook is called “Web3 Yearbook 2022” and volition beryllium launched adjacent year.

Research Highlight

Research: US ostentation breaking barriers successful the 2020s; started faster than 70s, 80s trend

Inflation successful developed economies similar Europe and the U.S. is expanding alarmingly, chiefly owed to the expanding prices of energy, substance oil, and gasoline.

In the U.S., ostentation was 7.5% astatine the opening of 2022, reaching 9% by June. This is overmuch higher than the 5.4% recorded successful June 2021 and 0.6% recorded successful June 2020.

On the different hand, Bitcoin has been up by 184.28% since the commencement of 2020. In the aforesaid timeframe, golden lone accrued by 5.38%, which indicated that Bitcoin was a amended hedge for ostentation for the past 2 years.

CryptoSlate Exclusive

Is present a bully clip to determination dollar outgo mean (DCA) into crypto?

Tokenist’s Chief Editor, Shane Neagle, wrote an exclusive nonfiction for CryptoSlate, discussing if this is the close clip to dollar-cost mean (DCA) successful crypto.

DCA is simply a trading strategy involving buying and selling the aforesaid magnitude of the aforesaid plus astatine regular intervals. It is based connected the premise of ignoring short-term terms changes and behaving arsenic a hedge against precocious marketplace volatility. That’s wherefore it is preferred by crypto investors often.

However, Neagle draws attraction to the information that Bitcoin prices are highly exposed to the wide macroeconomic conditions. Therefore, helium advises investors should deliberation doubly earlier committing to DCA.

Neagle wrote:

“In an situation wherever Bitcoin prices stay highly exposed to the wide macroeconomic conditions, investors should earnestly see committing to the dollar-cost averaging attack arsenic a means of investing successful integer assets – should beardown convictions beryllium prevalent.”

News from astir the Cryptoverse

What if Michael Saylor bought Ethereum?

blockchaincenter.net shows what would hap if MicroStategy laminitis Michael Saylor had bought Ethereum (ETH) alternatively of Bitcoin.

According to the information astatine the clip of writing, Saylor would nett $1.76 cardinal if helium bought Ethereum alternatively of losing $1.27 billion.

U.S. millionaire got arrested for facilitating cause exchanges via crypto

A U.S. nacro-millionaire was detained successful Canada for utilizing crypto to administer drugs, according to Montreal Gazette. At the clip of his arrest, helium possessed astir 200,000 Bitcoins, $2 cardinal successful an offshore slope account, and $4 cardinal successful Canadian Dollars.

Crypto Market

In the past 24 hours, Bitcoin (BTC) accrued by +4.05% to scope $21,064, portion Ethereum (ETH) besides spiked by +6.61% to commercialized astatine $1,643.