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Bitcoin topped $30,000 today, between 16:29 and 16:47 UTC! And Im getting calls about it. Number go up!

As usual, this signifies very little. No more than it does when the price goes down.

The number did not go up because of Wall Street interest, futile ETF filings, regulator signals, interest rates, the global economy or sunspots. It went up because of internal market shenanigans. Its always shenanigans.

The crypto trading market is in the dumps. The retail dollars have gone home. Cashing out at scale is proving difficult.

The crypto exchanges and trading firms have large piles of cryptos which they account at mark-to-market if you have 10,000 BTC at $30,000, just account it as $300 million!

Trouble is, there arent three hundred million dollars out there looking for bitcoins to buy. The realisable value is much lower.

So everyone has a great big mark-to-market time bomb in their accounts as they all pretend theyre not broke.

(This isnt even getting into exchanges that count their own supermarket loyalty card points as money as FTX/Alameda did with 5 billion dollars of its own FTT tokens, and as Binance does with its own BNB tokens.)

If youre playing pretend with your accounting, you need the number your accounts depend on to stay up. If its cheaper to pump the number up than to let your accounts go down, you pump the number up. And it is indeed cheap the markets really thin right now!

Binance has lost BUSD no more will be minted and it doesnt seem so keen on tethers. So Binances stablecoin of choice is now TrueUSD, or TUSD, which totally isnt run by Justin Sun of Tron, allegedly.

Binance was caught printing BUSD out of nowhere on its internal BNB Smart Chain which is probably what led to Paxos being told to close BUSD.

TUSD was, until recently, minted at Prime Trust. It isnt any more. Prime Trust, which Binance US used to use as a trustee, has hit financial trouble (because the crypto economy is running out of dollars). Prime has agreed in principle to be bought by BitGo. [CoinDesk]

TUSD lost its peg earlier this month at the news. [u.today]

TUSD has had to pause the automated attestations of its backing the page that shows that every TUSD in circulation really is backed by some sort of assets. As it happens, the page updates can be stopped due to an actual imbalance of liabilities and corresponding assets. Coincidentally, billions of TUSD have been minted recently. [Protos]

What could you make the price of bitcoin do if you could just print a few billion fake dollars to move it with?

Remember that the crypto trading economy is Binance and some stragglers. Binance is under no effective regulation so nobody can stop them from doing anything they like that doesnt scare off the suckers.

It is of course just allegations that Binance engages in market manipulation, wash trading and trading against its own customers. Allegations that made it into the SEC complaint against Binance US, and the Washington Post last year. And remember that CZ from Binance confessed that wash trading was standard at OKCoin when he was working there in 2015. [Washington Post, 2022; Reddit, archive, 2015]

Theres also how the BTC-USDT price on Binance US momentarily spiked to $138,070 around 03:00 UTC this morning:

From OperationAjax on Twitter

If the SEC wins its very solid cases, Coinbase is utterly screwed and Binance loses the US market.

Coinbase is hoping that Rep. Patrick McHenrys new crypto markets bill nullifies the SEC suit and lets them keep their business open. Really, thats what Coinbase has for a plan. [Bloomberg]

I am disconcerted to hear theres a greater than zero chance of McHenrys bill going through. This is quite bad, because it would allow through all manner of bad and awful financial instruments and shenanigans that are presently illegal for excellent reason if you tack on a gratuitous blockchain.

But I dont think even this bill will save crypto in the short to medium. Cryptocurrency is still perceived as awful trash for crooks and idiots. Coinbase is still haemorrhaging money.

A bubble wont come back for at least a few years, and then only if sufficient suckers grow back. If regulators mess up this time around, then perhaps crypto can bubble again!

In the short term: if you have a big bag of dead cryptos you cant shift, this is the moment to turn them back into cash while you can. Coinbase still has US dollar banking. For now.

View original post here:

'Tis the season to write the bitcoin goes up! post again - David Gerard

Offering a unique multi-tier game theory approach and community-driven mechanics, SEC vs. FOUR aims to provide users with an immersive and entertaining experience.

After an exciting and successful presale on PinkSale, where it was trending, the SEC vs. FOUR team launched a dApp where two tokens will clash in an epic battle for supremacy.

SEC vs. FOUR is a thrilling DeFi experiment that combines the worlds of decentralized finance and meme culture. It revolves around a battle between the Securities and Exchange Commission (SEC) and CZ's "Four fingers" meme.

Led by an experienced BNB OGs and an anonymous team that has previously worked on significant projects during the last bull run on the BNB Chain (BNB), the project introduces two tokens, $SEC and $FOUR, which can be staked and traded within the platform. By participating in SEC vs. FOUR, users can earn rewards, shape the battle's outcome, and celebrate the spirit of innovation in the crypto space. It's an exciting venture that invites you to join the movement and be part of a community-driven project.

Starting on June 22nd at 18:00 UTC and for 48 hours, the DeFi world will witness an enthralling experiment that will pit the two tokens, $SEC and $FOUR. This exciting showdown aims to unravel the mystery behind the viral fame of the meme, and it will be decided by the community itself, adding an extra layer of excitement to the mix.

$SEC and $FOUR are tokens that bring a unique twist by forming the SEC:FOUR liquidity pair on PancakeSwap V2. Through a smart contract address, participants can access a hidden liquidity pool where these tokens are listed in a 1:1 ratio. This setup allows for a three-tier game theory approach, enabling users to trade Token A (SEC:FOUR) as an asset or break it down into Tokens B (SEC) and C (FOUR) for separate trading. This convergence adds an exciting dimension to the investment landscape, with APYs adjusting based on the demand for each pool.

The ecosystem offers four staking options, each with different earning potential. Users can stake SEC:FOUR-BNB to earn SEC or FOUR, stake FOUR to earn SEC, or stake SEC to earn FOUR.

On June 22nd, the real battle starts and its time for the user to choose their side and stake their tokens! Two new pools will be set up (stake SEC, earn SEC, stake FOUR, earn FOUR), and to discourage frequent pool switching, these pools have a 1% deposit fee and a 2% withdrawal fee, and withdrawals are locked 2 hours before the countdown ends. This battle will last for 48 hours and at the end of it the community will decide the ultimate winner!

Learn more about the showdown here.

To stay updated with the latest news and announcements, follow SEC vs. FOUR on Twitter and join their Telegram community.

SEC vs. FOUR is a groundbreaking MemeFi experiment on the BNB Chain, aiming to introduce innovative protocols to the DeFi market. Led by an experienced BNB OGs and anonymous team, SEC vs. FOUR offers a unique multi-tier game theory approach and community-driven mechanics that empower participants and deliver an unforgettable investment experience.

Read more:

Binance Strengthens Global Presence With Licensed Platform in ... - BSC NEWS

For many cryptocurrency owners, staking is an excellent way to put assets to work rather than just leaving them stored up in a cryptowallet. By committing your assets to support a blockchain network, you can generate rewards and safeguard cryptocurrency platforms for other users. Not all networks are created equal though, and there are varying levels of reward and risk. At BanklessTimes.com weve ranked the ten most staked cryptocurrencies by market cap:

1. Ethereum

Ethereum is the most staked cryptocurrency, in large part because staking Ethereum is so straightforward. Anyone can become a validator by simply placing 32 ETH into a staking contract and activating validator software. Even the non-technical minded can do this through a CEX with just one click of a button. There are currently 601,977 validators on Ethereum and the platform has a staking market cap of $36,858,561,747, which is more than four times the amount of its largest competitor.

2. Solana

Solana has recently surged in popularity, driven by the fact that its native cryptocurrency SOL has experienced a significant growth in value. With a market price of $22.23, SOL is a reasonable investment and has long appealed to users for its lightning-fast transaction speeds and low fees. Solana has a staking ratio of 70.51% and rewards average at 6.8% per annum.

3. Cardano

Cardano has long been considered a safe investment choice thanks to the decentralised team of scientists, engineers and thought-leaders that lent their minds and rigorous testing to this open-source blockchain. Every ada holder has a stake in the network and ada can be delegated to a stake pool to earn rewards.

4. Aptos

Aptos has only recently been launched, but the fact it has three former Meta employees behind it has generated something of a buzz. The team behind Aptos has significant experience on the Diem stablecoin project and the platform uses accessible applications from Metas own programming language, Rust. With investors keen to get on board, Aptos already has a staking market cap of $8,089,418,162.

5. BNB Chain

Youll need a good degree of technical knowledge to invest in BNB Chain. The company formerly known as Binance Smart Chain only takes on 21 validators at a time and in order to be considered youll need to spin up a hardware node with the required specs, run a full BSC node, and stake a minimum of 10,000. This will only secure you a place as an elected candidate though; to start producing blocks you will need to be voted in, with candidates changing every 24 hours.

6. Sui

Sui is another cryptocurrency platform still at the integration stage, but attracting plenty of investors with its goal of making digital asset ownership accessible to everyone. The new project is the effort of Mysten Labs, a company founded by ex-employees of Metas Project Libra. The team has already generated a staking market cap of $7,062,537,071.

7. Avalanche

Avalanche differs from other cryptocurrency platforms in that fees are not directed to validators but rather burned. Burning increases the scarcity of its currency, AVAX, which is counterbalanced by the minting process in order to assure the longevity of the network. With a staking market cap of $3,627,678,874 it must be doing something right.

8. Polygon

Ethereums popularity has added many transactions to the Ethereum blockchain, which can make fees rise to the point at which smaller transactions are unviable. Polygon works by running alongside the Ethereum blockchain to provide faster transactions and lower fees to users.

9. Tron

Tron is dedicated to decentralising the internet and users looking to stake TRX can choose to vote on Super Representatives, which is perceived as easy with minimal risk, or alternatively for a fee of 9,999 TRX they can pay to participate in the election for Super Representative, which requires a certain level of technical expertise.

10. Polkadot

Polkadot is a protocol that connects previously incompatible blockchains such as Ethereum and Bitcoin and allows value and data to be sent across them. The amount to stake is dynamic, but often sits around the 80 DOT mark. Choose your validators carefully on this platform if they dont behave youll end up losing DOT.

The rest is here:

Most Staked Cryptocurrencies in 2023 - BanklessTimes

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As the cryptocurrency market continues to experience a prolonged bear market, industry leaders are embracing this challenging phase as an opportunity for growth and maturation.

Dorian Vincileoni, Europe business development lead at KuCoin, shared insights at the Proof of Talk 2023 blockchain conference, emphasizing the importance of prioritizing user-centric strategies during these times.

Vincileoni highlighted the value of bear markets in allowing companies to focus on innovation, product development, and enhancing user experiences. By tuning out the noise of bull markets, businesses can better understand the genuine needs of their organic user base.

Rather than being consumed by negative news, Vincileoni urged exchanges to concentrate on continuous improvement and community support, emphasizing that favorable market conditions will eventually return.

We closely listen to what our organic base is saying and what they are interested in. Our objective is to provide services to actual invested or interested communities, Vincileoni explained.

Despite a decline in overall market interest, Vincileoni noted that organic communities within the crypto space continue to thrive, indicating that the level of engagement remains substantial.

In terms of regulatory uncertainty, Vincileoni advised against making assumptions, urging industry players to react and adapt swiftly when clear guidelines are established. He described the current landscape as an adaptive race and emphasized the industrys responsibility to ensure user asset safety.

KuCoins market survey revealed a strong user interest in the implementation of artificial intelligence (AI) for enhanced security. The exchange promptly refunded affected users following a recent compromise of their Twitter account, demonstrating their commitment to user protection.

Vincileoni concluded on an optimistic note, stating that despite current market conditions, the industry remains brimming with untapped opportunities. He believes that we are merely at the dawn of an era that holds vast potential for future growth and innovation.

As the crypto bear market continues, industry players are leveraging this period to strengthen their offerings, improve user experiences, and foster resilient communities.

Binances CEO, Changpeng CZ Zhao, expressed a sense of relief as the protracted dispute with the United States Securities and Exchange Commission (SEC) finally reached a positive resolution. The prolonged period of regulatory uncertainty had caused tension and uncertainty within the company, making this resolution a much-welcomed outcome for CZ.

As the regulatory uncertainty dissipates, CZ, the CEO of Binance, can now direct his attention towards shaping the future of the company. In a tweet, he emphasized that the SECs emergency relief request was unnecessary, underscoring the fact that the agreed-upon resolution would allow Binance to move forward unhindered.

In a significant development, Judge Amy Berman Jackson from the U.S. District Court for the District of Columbia has given her seal of approval to the Proposed Stipulation and Consent Order forged between Binance, Binance.US, and the SEC on June 18. This landmark decision marks a significant step forward in the resolution of the dispute.

As per the courts ruling, the consent order requires Binance to repatriate all fiat currency and cryptocurrency assets associated with Binance.US.

Furthermore, the agreement places restrictions on Binance global officials, preventing them from accessing private keys of all wallets, including cold and hot wallets.

Despite encountering challenges and regulatory obstacles, Binance remains committed to its operations with steadfast determination. Binance CEO CZ expressed his satisfaction with the resolution of the SEC matter and reassured users that their funds are safeguarded and secure across all Binance-related services.

During the period of regulatory scrutiny, Binance remained committed to safeguarding user funds by implementing stringent security measures across all its platforms. The companys top priority was ensuring the safety and security of funds, providing users with peace of mind amidst the evolving regulatory landscape.

Additionally, Binance disclosed that its BNB Smart Chain is actively exploring the development and launch of a layer-2 blockchain scaling solution to enhance the efficiency and scalability of its ecosystem.

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KuCoin Business Lead Asks Companies to "Listen" to Users in Bear ... - Inside Bitcoins

In some ways, Hazel Sinnetts life has been a privileged one. Shes a young noblewoman from a wealthy family who has been given all the advantages that her familys money can afford.

But, frankly, 17-year-old Hazel hasnt ever taken an easy path. She hasnt simply relied on her attractiveness and position to help her find a suitable husband and start a suitable family. In fact, she has run determinedly away from suitable at every turn.

The idea of healing the human body has always consumed Hazels attention. Shes wanted nothing more than to become a doctor. A surgeon, in factthough she is forbidden to do so in 19th-century Edinburgh. She has lied, deceived, disguised herself as a boy and worked diligently to absorb every shred of medical knowledge she can.

Of course, if Im being absolutely truthful, thats not the only thing Hazel has ever desired. There was also a young man.

Their meeting was, shall we say, unusual. In an effort to procure human corpses to autopsy and learn from, Hazel turned to young Jack Currer, a desperate sort who stole freshly buried bodies from the graveyard for a living. During their secret interactions and late-night conversations, they fell in love. And then everything else fell apart.

Hazel nearly lost her life. And Jack likely did.

Now Hazels world is turned upside down. She is alone.

Amid losing Jack and any chance of accreditation, her clandestine work treating the broken bones, torn flesh and rotting teeth of the poor caused her great trouble. One case brought Hazels activities into the public eye. And it got her thrown in jail for murder.

Hazel is currently wasting to skin-and-bone in a filthy jail cell. She has no one there to help. No one to care. But even as her life wastes away, there is hope. For Princess Charlotte in London is mysteriously ill. And she wont let her male doctors touch her.

Hazel, however, is no male doctor. And even people in the royal court are, lately, whispering about the lady doctor in Scotland. After losing nearly everything, Hazelwho can never be a doctormight just be called to doctor a royal.

Excerpt from:

Immortality: A Love Story - Plugged In