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About Trustnodes: Journalistic Principles, Values and Ethics

Trustnodes is widely recognized for its high quality reporting on digital finance, trusted to provide accurate, impartial, independent and fair coverage of developments in a fast moving and highly innovative…

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Trustnodes is widely recognized for its high quality reporting on digital finance, trusted to provide accurate, impartial, independent and fair coverage of developments in a fast moving and highly innovative space.

We are committed to achieving the highest standards of accuracy and impartiality and strive to avoid knowingly or materially misleading our audience.

This underpins our reputation as provider of news that you can trust with the highest journalistic standards applied in our reporting.

Mission Statement: The mission of Trustnodes is to bring you tomorrow today. That means focusing on innovative developments in code based finance and more widely with the aim of inspiring and informing the public through high-quality distinctive journalism.

Ownership Structure, Funding and Grants: Trustnodes has not received any Venture Capital (VC) investment as of January 2021, nor any outside grant nor funding.

We have no conflict of interest with any company or entity in this space or any other space, with Trustnodes being journalist owned and self funded.

To avoid any undue influence, our automated ad management is outsourced to specialists with our priority focusing on providing impartial and independent unbiased news to our subscribers and the wider public.

We are independent of outside interests and arrangements that could undermine our editorial integrity.

Founding Date: Trustnodes was founded on the 14th of March 2017.

Ethics Policy: The trust our readers have in our impartial reporting underpins everything we do.

Trustnodes therefore aims to not only exercise full integrity in our reporting, but also to be perceived to do so.

In particular we aim to avoid any conflict of interest or any position that might color our reportage.

We clearly separate our news content from our editorial content, and we separate both from our press releases section.

We strive in all ways to avoid any undue influence on what news we report or on what opinion we express on our editorial section, and aim to be as objective as possible in presenting the facts to inform our readers as best as we can.

That can sometime involve undercover reporting and/or unannounced fact gathering sessions with the aim of gaining a more natural picture of developments or projects.

At all times we seek to give a fair hearing and generally announce our position as a reporter after the facts are gathered or when suitable.

Our editorial stance is to refrain from undue speculation or reporting on rumors without attributing sources unless the rumor itself is newsworthy, in which case it is identified as such.

We give less weight to anonymous sources and aim to corroborate a story, with our editorial stance favoring not reporting on a development unless we can be reasonably sure of the accuracy of a statement or event.

Our editorial stance is political neutrality unless it directly affects our space. That includes geopolitical neutrality, with Trustnodes aiming to favor neither the left nor the right, neither the north nor the south, neither the east nor the west, again unless it directly affects our space.

Fundamentally we aim to report without fear nor favor, and strive to do so with the fullest of integrity.

Corrections: Trustnodes is committed to full accuracy. Our reporting must be evidence based, well sourced and presented in a clear, precise language.

Where there’s a mistake, we will correct it and add a note at the end of the article clarifying the amendment or correction.

If there is a small error in a story that does not alter its editorial meaning (eg name misspelling), the correction will be made without an additional note.

Unless content is specifically made available only for a limited time period, there is a presumption the material published will become part of a permanently accessible archive and will not normally be removed or edited except as stated above. Exceptional circumstances may include legal reasons, personal safety risks, or a serious breach of editorial standards that cannot be rectified except by removal of the material.

Verification/Fact-checking Standards: Accuracy is not simply a matter of getting facts right. Relevant opinions as well as facts may need to be considered. The trustworthiness of tools or stats too. When necessary, all the relevant facts and information should be weighed to get at the truth.

Where appropriate, we should check facts and statistics, identifying important limitations and interpretations.

In addition we need to ensure of the authenticity of a document or its author especially if it’s in a digital form.

We aim to corroborate claims and allegations while weighing and contextualizing any claims, including statistical claims.

We should verify first-hand facts and events whenever possible and where practicable corroborate the evidence of first hand sources.

We should be reluctant to rely on anonymous sources. If we do rely on a single source, it should be credible, and a named, on-the-record source is always preferable.

We must check and verify information, facts and documents, where required to achieve due accuracy. If we have been unable to verify material we should usually say so and attribute the information.

Unnamed Sources: Trustnodes takes due care when citing unnamed sources and aims to describe their position.

Generally there must be a good reason for a source to not be named, but we try to be accommodative whenever possible where circumstances require.

Actionable Feedback: Trustnodes welcomes any feedback which can be emailed to contact@trustnodes.com

Leadership: Trustnodes is journalist owned with our editorial position being the avoidance of bylines as they can potentially interfere with the impersonal nature of news.

We strive to report the facts without fear or favor, as long as it is well sourced, evidence based, and as long as we are open and honest about what we don’t know.

Our overall guiding principle is to inform by objectively presenting events with a focus on bringing you tomorrow today.

Blockchain

Opimas estimates that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping

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May 2021. Safekeeping of cryptocurrencies presents a challenge for institutions holding cryptocurrencies on their clients’ behalf. Cryptocurrency transactions are irreversible and anyone with full access to a wallet’s private key controls the cryptocurrencies that reside within it. Frighteningly, a number of institutional participants and even some large cryptocurrency exchanges rely on subpar custody approaches, leading Opimas to estimate that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping.

Luckily, a number of companies have emerged to address this problem. A new research report from Opimas—Crypto Custody: No More Excuses, authored by analysts Suzannah Balluffi and Anne-Laure Foubert—looks at the landscape of cryptocurrency custody-enabling technology providers and institutional-grade cryptocurrency custodians as well as the size of the market for cryptocurrency custody and brokerage services.

Some key findings in the report include:

Many of even the largest holders of Bitcoin and other digital assets continue to rely on storage devices meant for individual investors. Although some of these self-custody devices and wallets are secure and reputable, the operational risk posed by this approach is significant for institutional investors. Furthermore, a chunk of institutionals’ cryptocurrency holdings sit in hot wallets on exchanges. In total, about 22% of institutional cryptocurrency holdings are safeguarded in these relatively risky manners (Figure 1).

Figure 1. CUSTODY METHODS UTILIZED BY INSTITUTIONAL INVESTORS 

 

Source: Opimas analysis.

There are no more excuses for lackadaisical safekeeping – institutions can now choose from several reputable cryptocurrency custody-enabling technology providers and institutional-grade cryptocurrency custodians. Yet no custody solution is equal – there is still no best practice when it comes to security and governance relating to private keys. For example, some providers may rely on time-tested Hardware Security Modules (HSMs), while others use a newer technology known as Multi-Party Computation (MPC) – see Figure 2.

Figure 2. A COMPARISON OF HSM AND MPC TECHNOLOGY PROVIDERS

Source: Ledger, Fireblocks, Opimas analysis.

Some cryptocurrency custodians have followed in the footsteps of traditional capital markets by adding prime brokerage services to their offerings, including trading and settlement, lending, margin finance, staking, reporting, and capital introduction services. Opimas estimates that the current annual revenues generated by the institutional crypto brokerage and custody market are roughly US$2 billion and will grow to nearly US$8 billion by 2026 – a sizeable portion of this coming from brokerage services (Figure 3).

FIGURE 3. THE MARKET FOR CRYPTO CUSTODY & PRIME BROKERAGE SERVICES IS GROWING 

Source:  Opimas analysis. 

  • Regulations surrounding institutions’ ability to store cryptocurrency have become clearer (and in some cases more favorable) in numerous jurisdictions. Notably, the Office of the Comptroller of the Currency (OCC) ruling in the US has allowed banks to store cryptocurrencies for their customers. This regulatory clarity has led a number of financial institutions around the world to provide trading and custody for digital assets. With the advances in brokerage and custody solutions, Opimas expects institutional cryptocurrency holdings to grow from 20% of the cryptocurrency market cap to over 50% by 2026 (Figure 4).

FIGURE 4. INstitutional cryptocurrency holdings over time 

Source:  Opimas analysis.

Source: PlatoData Intelligence

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Blockchain

Bitcoin (BTC) Price Prediction: BTC/USD Faces Rejection Thrice at the $60,000 Resistance Zone, Resumes Downward Correction

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Bitcoin (BTC) Price Prediction – May 9, 2021
Bitcoin bulls have broken above the $58,000 resistance but the bullish momentum could not be sustained. Today, BTC/USD traded as price reached the high of $59,450. The king coin is likely to retrace to $57,000 low if the bulls fail to break the $60,000 psychological price level.

Resistance Levels: $65,000, $70,000, $75,000
Support Levels: $50,000, $45,000, $40,000

BTC/USD – Daily Chart

Bitcoin price was rejected thrice at the $60,000 resistance level. Buyers made frantic efforts to sustain the bullish momentum above the recent high but were repelled by overwhelming selling pressure. Consequently, Bitcoin has resumed a downward move as a result of a strong rejection at the resistance of $59,200. The current retracement will extend to the low of $57,000. Nevertheless, if price breaks below the $57,000 support, the market will continue the downward move. That is, the selling pressure will extend to the low of $53,000. On the upside, if price retraces and finds support above $58,000, the upside momentum will resume.

Bank of England Governor Warns on Crypto Investment
Andrew Bailey is the governor of the Bank of England who has warned crypto investors of the inherent dangers of cryptocurrency investment. The governor argued that cryptocurrencies lacked intrinsic value. According to him, “I would only emphasize what I’ve said quite a few times in recent years, [and] I’m afraid they have no intrinsic value. I’m sorry; I’m going to say this very bluntly again: Buy them only if you’re prepared to lose all your money.” Bailey’s comments are coming at a time when crypto markets are characterized by a huge spike in crypto prices. Major altcoins such as Polkadot, Chainlink, and XRP have also seen vertical price actions.

BTC/USD – 4 Hour Chart

Bitcoin risks another downward correction as the king coin faces stiff rejection at the $59,450 resistance. The Fibonacci tool has already indicated a marginal upward move of Bitcoin and a possible reversal. On May 1 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Bitcoin will rise to level 1. 272 Fibonacci extension or the high of $59,819.90. From the price action, BTC price has reached a high of $59,450 and has commenced a downward move.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insidebitcoins.com/news/bitcoin-btc-price-prediction-btc-usd-faces-rejection-thrice-at-the-60000-resistance-zone-resumes-downward-correction

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Blockchain

Dogecoin dumps following mention from Elon Musk on Saturday Night Live

Republished by Plato

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Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump.

First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk’s mother, who joined him onstage and asked if her Mother’s Day gift would be Dogecoin; Musk replied that it would be. 

In the minutes afterwards, $DOGE dumped upwards of 25%, falling as low as $.50 from $.66 highs at the start of the show. It has since partially recovered, trading at $.52 at the time of publication.

An hour before the episode began, the price of DOGE sat at $.66, down from an all-time high of $.72. A pair of bearish headwinds may have shared responsibility for the pullback: Musk himself seemed to try and get ahead of the hype, urging followers in a Tweet to “invest with caution,” and a host of new data indicates that many investors may be rolling their DOGE profits into other, largecap digital assets

Additionally, Barry Silbert — the founder and CEO of Digital Currency Group, the parent company of crypto investment vehicle company Grayscale — announced a public short on DOGE via the FTX exchange. In a series of follow-up Tweets, he revealed that the position was $1 million in size, and that any proceeds or remaining funds after closing the short would be donated to charity. 

(It’s unclear if Silbert was is using “we” in reference to Digital Currency Group, one of its portfolio companies, or is simply and bizarrely using a plural pronoun in reference to himself). 

Many DOGE investors were nonetheless holding out hope for a high-profile shoutout on what looked to be a major pop culture event. NBC, the studio behind SNL, chose for the first time ever to live-stream the episode on Youtube, per the Wall Street Journal.

Even a mention could have significant impact on the price of DOGE as well: the meme currency has proven to be susceptible to price movements based on positive social media volume, and multiple studies have shown that Tweets from Musk often lead to price appreciation. A mention on an even bigger platform was thought to potentially lead to even greater gains. 

Leading into the premier of the episode, Alameda Research trader Sam Trabucco (who said in a previous Tweet that he was “studying the typical SNL episode structure to try and understand when a DOGE mention would be the most natural”) speculated that if a joke or mention didn’t come in Musk’s opening monologue, it would be “all over.”

Despite arriving during the monologue, traders nonetheless responded negatively. It remains to be seen if a DOGE-centric skit later in the show can perhaps turn the speculative asset’s fortunes around.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/dogecoin-dumps-following-mention-from-elon-musk-on-saturday-night-live

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