Mediaboss Marketing

The White House Council of Economic Advisers has criticized crypto assets. In the Economic Report of the President, published on March 20, there are over 30 pages detailing the councils thoughts on crypto assets. The report noted flaws and problems related to crypto assets.

The Economic Report noted, among other things, that none of the benefits promised by cryptocurrencies have materialized. These benefits include cryptocurrencys promise to improve payment systems, increase financial inclusion, and more.

Furthermore, the Economic Report criticizes crypto assets as a form of investment. According to the report, crypto assets do not currently have a fundamental value, serve as a substitute for fiat currency, increase financial inclusion, or improve the efficiency of payments. Instead, their innovation has been mostly about creating artificial scarcity in order to support crypto assets prices, according to the report.

Then, the Economic Report points out how DeFi creates serious risks to investors. Namely, the report points to the use of significant leverage and the performance of regulated functions without compliance with appropriate regulations. According to the report, DeFi platforms that operate as unregulated banks, broker-dealers, exchanges, etc. should adhere to all applicable laws and regulations.

The White House Council of Economic Advisers accuses some supporters of crypto assets of being ignorant of fundamental economic principles in a particularly harsh statement. Although advocates often claim that digital assets, particularly crypto assets, are a revolutionary innovation, the design of these assets frequently reflects an ignorance of basic economic principles that have been learned in economics and finance over centuries.

Ultimately, the Economic Report emphasized the need for effective regulation within the crypto asset space. Although the report acknowledges some of the potential of crypto assets and the technology that underpins them, it also claims that there are currently more issues than advantages.

Read market moving news with a personalized feed of stocks you care about.

Get The App

Notably, the report discussed how a U.S. CBDC might modernize the countrys financial system without the dangers or irrational exuberance that come with crypto assets.

The post White House Economic Report: Cryptocurrency Falls Short of Promises appeared first on Coin Edition.

See original on CoinEdition

Go here to read the rest:

White House Economic Report: Cryptocurrency Falls Short of ... - Investing.com

As Circles $USDC has lost ground, Tether-issued $USDT is now the dominant stablecoin on both Ethereum and Polygon.

Regulatory FUD from U.S. authorities has helped to catalyze a regime change in the world of cryptocurrency stablecoins, as $USDC has lost its dominant position to $USDT on both the Ethereum and Polygon blockchains.

The March 11 collapse of Silicon Valley Bank certainly shook crypto holders faith in the stability of $USDC (at least in the very short term), as it was disclosed that $USDC issuer Circle had more than $3 billion in reserves stored at the failed financial institution. $USDC suffered a major but brief de-peg, and it regained its $1 value a few days later, when Circle executives were able to reassure investors that the SVB collapse did not impact its ability to maintain the 1:1 backing for the stablecoin.

The apparent irony is that U.S. regulators statements and actions against stablecoins (notably $BUSD) have incentivized crypto holders to abandon stablecoins from U.S.-regulated issues (such as Paxos and Circle) in favor of issuers like Tether who are not subject to U.S. regulations.

According to DefiLlama, $USDC lost its dominant position on Ethereum to $USDT on March 18, a week after the SVB debacle. $USDc had accounted for the plurality of stablecoins on Ethereum since the beginning of 2022. However, $USDT rose to the top spot as it benefitted from investors switching out of $USD and, since December 2022, $BUSD.

The narrative on Polygon is different but has the same result: $USDT has surpassed $USDC as the dominant stablecoin on the Ethereum sidechain.

The wrinkles in the story, however, are that $BUSDs market share on Polygon was never significant; $USDC had always been the dominant stablecoin on Polygon; and $USDTs ascent came at the expense of $USDC and $DAI.

Perhaps most importantly, $USDT surpassed $USDC on Polygon on March 2, according to DefiLlama, more than a week before SVBs failure accelerated the abandonment of $USDC.

Overall, $USDT has strengthened its grip on the entire USD stablecoin marketplace, increasing its share of stablecoin holdings on all blockchains from less than 50% to nearly 60% since the beginning of the year.

The Tether-issued stablecoin accounts for almost all stablecoin holdings on Tron and is rapidly gaining even more ground on BNB Chain as $BUSD is being phased out.

One area where $USDC has maintained its edge over $USDT is on the fast-growing Arbitrum blockchain, where $USDC has 63% of the stablecoin market.

Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).

Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |

Polygon is a sidechain scaling solution that runs alongside the Ethereum blockchain allowing for speedy transactions and low fees. MATIC is the networks native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.

Website | Twitter | GitHub | Reddit | YouTube

Read the rest here:

Phoenix Chain: The Hottest Blockchain Project Taking the ... - BSC NEWS

Over the past 24 hours, Stacks's STX/USD price has risen 6.33% to $1.22. This continues its positive trend over the past week where it has experienced a 28.0% gain, moving from $0.88 to its current price. As it stands right now, the coin's all-time high is $3.39.

The chart below compares the price movement and volatility for Stacks over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 77.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has decreased 0.68%. This brings the circulating supply to 1.37 billion, which makes up an estimated 75.21% of its max supply of 1.82 billion. According to our data, the current market cap ranking for STX is #38 at $1.72 billion.

Powered by CoinGecko API

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Read the original post:

Cryptocurrency Stacks Rises More Than 6% In 24 hours - Benzinga

Photo credit

The iGaming Industry has experienced a significant surge in popularity thanks to the integration of cryptocurrencies into payment methods. Cryptocurrency payments provide greater security and anonymity and eliminate the need for intermediaries like banks, credit card companies, or payment gateways. The absence of intermediaries allows for reduced transaction fees, making crypto payments faster and more efficient than traditional methods.

For instance, a study by Mordor Intelligence has projected the global online gambling sector to grow by an annual compound growth rate (CAGR) of 11.5% from 2018 to 2028. This growth can be partly attributed to the implementation of cryptocurrencies in the iGaming sector.

Cryptocurrency payments offer increased security and privacy measures compared to traditional payment methods. Transactions are secured through cryptography, ensuring that players funds and personal information remain safe from cyber threats. Additionally, crypto transactions are more cost-effective as they bypass the fees associated with traditional payment processing. It allows iGaming companies to offer better bonuses, promotions, and lower house edges, enhancing the overall gaming experience for users.

The integration of cryptocurrencies in iGaming has led to a shift in user experience. Crypto transactions provide a layer of anonymity not available with traditional payment methods, as they do not require players to share sensitive personal information. The added anonymity may encourage responsible gaming and reduce disputes between players and operators. For example, Cloudbet offers a completely anonymous gaming experience, requiring only an email address and a Bitcoin wallet to get started.

The use of blockchain technology can revolutionise the iGaming industry by making it more secure and efficient. Thanks to its decentralised nature, it offers faster and more transparent transactions with heightened security. Smart contracts can also be used to ensure fair play in games, with the blockchain automatically executing contracts based on pre-set conditions.

In 2018, FunFair Technologies launched the first blockchain-powered casino platform, demonstrating the potential of blockchain technology in the iGaming sector. This platform offers unparalleled transparency and security to both players and operators.

The unique features of cryptocurrencies, such as lower fees, increased privacy, and pseudonymous identities, make them an attractive option for players. Offering zero-fee cryptocurrency payments can help players maximise profits while enjoying their favorite games. For example, Edgeless, an Ethereum-based casino, offers players fun playing blackjack online, poker, and zero-house edge games, allowing players to enjoy a fair gaming experience with minimal fees.

iGaming operators are increasingly investing in new technologies like blockchain and fraud-detection systems to protect their customers and businesses. Blockchains transparent nature allows operators to identify and prevent fraudulent transactions, ensuring a safe gaming environment for all parties involved.

In 2020, DAOBet, a blockchain-based iGaming platform, introduced advanced security measures, including random number generation and a decentralised affiliate system, to protect its users and maintain a secure gaming ecosystem.

The integration of cryptocurrencies into the iGaming industry has brought numerous benefits, making them an indispensable part of this rapidly growing sector. Crypto payments offer quicker, more cost-effective, and more secure transactions, promoting responsible gambling and minimising overspending. Blockchain technology has the potential to strengthen security protocols and boost gaming performance. As the iGaming industry continues to evolve, embracing the power of cryptocurrencies and blockchain technology will shape the future of online gaming, drawing in more players, offering better prizes and benefits, and fostering innovation in the sector.

By leveraging the advantages of cryptocurrencies and blockchain technology, the iGaming industry can continue to grow and adapt to the ever-changing landscape of online entertainment. As more players become familiar with the benefits of crypto payments and blockchain-based gaming platforms, the iGaming industry will continue to push the boundaries of innovation, making it more accessible, secure, and enjoyable for all.

Sponsored

WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversin en criptoactivos no est regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido

Read more here:

Exploring the Growing Popularity of Cryptocurrency Payments in the ... - Euro Weekly News

Finding a way to earn free cryptocurrency is understandably something that many cryptocurrency investors are interested in. While there are ways of getting cryptocurrency for free, you shouldnt expect major returns without taking on any risks.

In this article, well show you how to earn free crypto in different ways. Well cover cryptocurrency faucets and airdrops, which are the main methods of getting crypto for free. Well also highlight some related ways of earning cryptocurrency by staking your crypto or depositing it in various crypto passive income products.

Faucets are a somewhat old-school way of getting free crypto instantly. Cryptocurrency faucets were first created by Bitcoiners who wanted to grow the Bitcoin community by giving away small amounts of BTC for free.

A cryptocurrency faucet is a website where you can input your crypto address and receive a small amount of crypto. Usually, you will have to solve a CAPTCHA or a similar test first to prevent spamming.

A crypto faucet is the most no strings attached way to earn crypto for free. However, you have to keep in mind that faucets typically only distribute tiny amounts of cryptocurrency, so dont expect to make any meaningful profits. Faucets are mostly just a way to try out the technology and make a few test transactions to see how the cryptocurrency works.

Also, its important to understand that there are no faucets for some cryptocurrencies. However, if youre interested in getting some testnet coins, you will usually be able to find a faucet for any cryptocurrency. On CoinCodex, we provide guides for using a BNB faucet, a Solana faucet and a Dogecoin faucet.

Airdrops are a popular way for cryptocurrency projects to promote themselves and distribute coins to a broader community of users. A cryptocurrency airdrop is when you receive some cryptocurrency in your wallet for no additional cost.

If you want to learn how you can find cryptocurrency airdrops, check out our list of the 5 best sites for free crypto airdrops.

In some cases, a cryptocurrency project will announce an airdrop ahead of time and allow interested participants to submit the wallet address they would like to use to receive the airdrop. Sometimes, such airdrops can come with some strings attached. For example, users might be required to promote the project on their social media accounts before they become eligible for the airdrop.

In other cases, projects will choose a set of criteria to determine which users will receive an airdrop. The most common example of this are retroactive airdrops, where users of a decentralized application or blockchain platform are rewarded with tokens.

A popular example of a retroactive airdrop is Uniswap. When the Uniswap decentralized exchange launched, the UNI token did not exist. When the Uniswap project decided to launch the UNI token in 2020, they airdropped UNI tokens to everyone who used the Uniswap decentralized exchange in the past. Examples of other notable projects that have conducted retroactive airdrops are dYdX, 1inch and Optimism. More recently, the Arbitrum airdrop was announced for past users of the Arbitrum layer 2 scaling solution for Ethereum.

You can use this knowledge to make yourself eligible for potential future airdrops. If you find a cryptocurrency project such as a decentralized exchange, lending protocol or layer 2 solution that doesnt have its own token, it might be worth it to use the product so that you build up a history of on-chain activity related to the product. If the project decides to launch a token later on, you could become eligible for an airdrop based on your past use of the protocol.

If you want to get cryptocurrency completely for free while taking on minimal risks, the only realistic options are faucets or airdrops.

Theoretically, it is of course also possible to receive cryptocurrency as a gift, but we recommend extreme caution if an unknown person you meet online is offering to send you cryptocurrency for free.

In almost all cases, this involves some kind of scamthey will either ask you to send them some cryptocurrency first, or will attempt to steal your cryptocurrency in some other way. If youre approached by someone that is offering you cryptocurrency, we recommend that you dont accept their offer and ignore them. Remember, if something seems too good to be true, it probably is.

If you want to grow your cryptocurrency holdings without spending money, you will practically always have to take on some amount of risk. Theres two main ways you can do itcryptocurrency staking and passive income products.

There are two main approaches to securing a cryptocurrency network Proof-of-Work and Proof-of-Stake.

In Proof-of-Work cryptocurrencies, miners deploy computers that solve computationally intensive problems, and the first one to arrive at the correct solution has the right to add the latest block to the blockchain and receive a reward.

In Proof-of-Stake cryptocurrencies, validators put their cryptocurrency at stake. If they are selected to add the next validator to the blockchain, they must do so in accordance with the rules of that particular cryptocurrencys protocol. If they do so successfully, they receive some cryptocurrency in return. If they are found to be breaking the rules, they are penalized by having a portion or the entirety of their stake taken away.

Earlier cryptocurrencies were almost exclusively using Proof-of-Work, but were now seeing a significant growth in Proof-of-Stake cryptocurrencies. Examples of Proof-of-Stake cryptocurrencies include Ethereum, Cardano, Solana, Polkadot and Avalanche.

In many Proof-of-Stake cryptocurrencies, you can choose to run your own validator or delegate your coins to another validator to receive a portion of the rewards earned by that validator.

If you hold a Proof-of-Stake cryptocurrency and dont intend to sell it in the short term, you should seriously consider staking your coins. Theres two main benefits of staking. The first benefit of staking is that you will receive crypto rewards in exchange for staking your coins. The second benefit is that by staking your coins, you contribute to the security and decentralization of your cryptocurrency of choice.

Some cryptocurrency exchanges offer cryptocurrency staking products where they stake customers crypto on their behalf. However, you can also stake most Proof-of-Stake cryptocurrencies directly from your crypto wallet.

Some cryptocurrency businesses offer crypto passive income products where you can deposit your cryptocurrency and earn interest on the deposit. In most cases, the interest is earned by lending the cryptocurrency to third parties.

Crypto passive income products are typically offered by crypto exchanges, but there are also businesses that specialize in such products.

As far as exchanges are concerned, one of the most popular examples is Binance, which offers the Binance Earn suite of products for earning crypto yield. On Binance, you can choose between flexible and locked products. The interest rate offered will vary depending on multiple factors, including the cryptocurrency youre depositing, the duration of the deposit, and more.

If youre using flexible products, you can withdraw your deposit at any time and collect the interest you have earned so far. If youre using locked products, you can only earn interest if you keep the deposit locked for a specified period of time.

Its important to keep in mind that crypto passive income products are not risk-free. Many crypto lending businesses such as Celsius, BlockFi and Voyager, which offered such products, collapsed in 2022 due to poor risk management practices. Users who deposited funds with these businesses now have their funds stuck (or lost) and need to wait for the outcome of complicated bankruptcy proceedings.

So, before choosing to deposit your cryptocurrency into such products, its important to conduct your own research on the business youre looking to use.

If youre investing in crypto, theres ways to get some extra coins for free or by taking minimal risks. The most common ways of getting free crypto are faucets or airdrops, but you shouldnt expect to make big profits in this way. If you hold a Proof-of-Stake cryptocurrency, consider staking your coins to earn rewards passively while helping contribute to the cryptocurrencys decentralization.

Theres also riskier ways of getting crypto for free. This would include various cryptocurrency lending products, which are offered by businesses such as exchanges. These products pay interest to users who deposit their cryptocurrency. Such products are riskier because you need to trust the business to handle your cryptocurrency responsibly and apply proper risk management properties.

Excerpt from:

How to Earn Free Cryptocurrency in 2023? - CoinCodex