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The correlation of BTC’s price with the NASDAQ index has fallen to 17-month lows, making the asset attractive again for portfolio diversification, crypto research firm K33 noted.

The new tool for its Brave Talk video service allows hosts to use NFTs and POAPS to manage access to calls.

Three large crypto entities have taken action in response to the delays and concerns around the cross-chain protocol Multichain.

The Fantom Foundation withdrew $2.4 million in liquidity of the protocol’s native MULTI tokens on decentralized exchange SushiSwap, as noted by on-chain analysts Lookonchain, making the tokens available to be sold. Similarly, Chinese crypto investment firm HashKey Group moved $250,000 to crypto exchange Gate.io, as noted by crypto analysts Arkham Intelligence.

Beyond the tokens, Tron founder Justin Sun withdrew 470,000 of the stablecoin USDD from the protocol itself, as highlighted by Lookonchain.

Multichain has been hit by concerns after users have reported delayed transactions over the last few days. For its part, the protocol maintains that the delays are being caused by an upgrade and that only one more router is left to be upgraded.

“Well bridge/swap works as usual, only Router2 routing is pending upgrade [at the moment],” said Multichain’s pseudonymous VP of strategic partnerships, who goes by Mog, adding that “99% of other routings/ token bridges work as intended.”

In the meantime, the token’s price remains down at $5.13, having declined 27.6% in the last 24 hours.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prosecution appealed a previous decision by a lower court in the country to let the disgraced founder go free while he faced trial.

The company established a headquarters in El Salvador for its global entity as it expanded its app to more than 65 countries last week.

The attacker who exploited mixing service Tornado Cash’s DAO has conducted a series of transactions, the first since the governance takeover last weekend.

Per EtherScan, two transactions were conducted roughly an hour and a half before press time. One transaction of 100 ETH was sent to the Tornado Cash Router, which is used in the service’s funds-obfuscating process. The other transaction comprised 38,302.57 TORN, which is the governance token for the DAO. 

As previously reported by The Block, the exploiter took over the DAO following the passage of a malicious governance proposal this weekend. The pseudonymous security researcher Samczsun had reported that the exploit gave the attacker governance control but that most funds held within the Tornado Cash are shielded from theft.

Tornado Cash was sanctioned by the U.S. government last year for its use by cybercriminals, including North Korea’s Lazarus group. In recent years, international law enforcement officials have targeted mixing services like Tornado Cash. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Terraform Labs co-founder Do Kwon’s bail was revoked in Montenegro, Bloomberg reported.

A high court in Montenegro annulled a lower court’s decision to allow Kwon to be released on bail. He was arrested in the country in March and remains in jail there.

A lower court had previously accepted Kwon’s $436,000 bail agreement, local news had reported earlier this month. Kwon was charged with using a fake passport in Montenegro, and the United States and South Korea have sought to extradite the Terraform Labs boss.

TerraUSD, the stablecoin created by Terraform Labs, collapsed last spring, wiping out billions of dollars for investors. The incident was the first of a series of crises to hit crypto markets throughout 2022.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Binance CEO Changpeng “CZ” Zhao said that Chinese-speaking communities are “buzzing” after state broadcaster China Central Television appeared to broadcast a segment about cryptocurrencies that featured the Bitcoin logo.

“It’s a big deal,” he wrote on Twitter. “Historically, coverages like these led to bull runs. Not saying past predicts the future. And not financial advice.”

Zhao shared a link to CCTV’s website that showed a segment that featured what appeared to be a Bitcoin ATM in Hong Kong. Besides a large blue logo, an option that said “Buy Bitcoins” was visible. NFTs were also highlighted in the segment. 

The segment, dated May 23, focused on a Hong Hong licensing system for virtual asset trading platforms. China prohibited the use of cryptocurrencies in 2021.

Bitcoin was down 3.4% on Wednesday, falling to $26,295, according to data on TradingView. 

Hong Kong rules

Honk Kong’s Securities and Futures Commission on Tuesday released consultation conclusions about proposed regulatory requirements for virtual asset trading.

“A significant majority of respondents agreed to our proposal to allow licensed trading platform operators to serve retail investors,” the commission said. “The SFC will implement a number of robust measures to protect these investors including ensuring suitability in the onboarding process, good governance, enhanced token due diligence, admission criteria and disclosures.”

The “Guidelines for Virtual Asset Trading Platform Operators” will become effective on June 1. The rules will cover “safe custody of assets, segregation of client assets, avoidance of conflicts of interest and cybersecurity standards and requirements expected of licensed trading platforms.”

“Hong Kong’s comprehensive virtual assets regulatory framework follows the principle of ‘same business, same risks, same rules’ and aims to provide robust investor protection and manage key risks,” SFC CEO Julia Leung said in a statement. “This will enable the industry to develop sustainably and support innovation.”

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Crypto exchanges have order books just like the NYSE, but the digital asset realm also offers something very different known as automated market makers (AMMs).

Large language models like ChatGPT could supercharge sentiment analysis, a key aspect of trading.