Good times are coming. At least such a prediction now looks more likely as markets begin to show really positive dynamics for the first time since May.
Discover the hottest crypto news and events together with the experts from CEX.IO.
In August media coverage, we talked about:
- Crypto in law
- Safety first
- Altcoins season continued
- Bitcoin soars
- CEX.IO news
We’ve put together all the juiciest stuff in this post for your convenience. Enjoy!
In the past few months, UK regulators have introduced increased scrutiny around the cryptocurrency industry. Besides the mandatory requirement to get licensed, digital asset businesses must be careful about how they advertise their services to consumers. At first glance, this growing pressure on service providers might seem bad news for the market. However, if we take a closer look, regulation protects investors and offers long-term benefits for the licensed service providers and maturing cryptocurrency sector, said Konstantin Anissimov.
The cryptocurrency sector has changed dramatically over the past two years, leading to widespread growth and interest in the space. This includes an increasing shift towards institutional investors, which have carved out an important niche moving forward. Given this evolution, many have questioned what can still be done to improve the industry. Finance Magnates hosted a live webinar that delved into the metamorphosis undergone by the cryptocurrency sector over the course of 2020-2021. Konstantin Anissimov, along with other participants, discussed the position of institutional investors in crypto, lending on their unique expertise and vantage point in the industry.
It is important to continuously educate people on the benefits of new solutions. And the more people understand the benefits, the more retailers will be ready to use Bitcoin as a payment means. The growing number of participants in this market will blur the boundaries between the crypto and traditional economies and will make us look for new, interesting solutions. Konstantin Anissimov is confident that paying for coffee with Bitcoin will most likely become a new reality.
Poly Network confirmed that the hacker, who is called Mr. White Hat, had returned the $610 million in stolen money. $33 million in Tether remains frozen by the stablecoin’s parent company, which Poly Network said it was working to restore.
Also, the hacker issued a message on the Ethereum blockchain explaining their rationale for delaying returning the stolen funds. The hack initially occurred on August 10, with about half of the money returned the following day. “Such big hacks as this (with white hackers or not) actually improve the overall security of all DeFi services. Other teams tend to learn from the mistakes and failures of others and make their projects more secure.”, said Dmytro Volkov.
With trading bot scammers still on the prowl, many more traders will continue to lose money to this type of scam. This begs the question: Who should use a trading bot? How does one know if a purported trading bot is in fact a scam? Dmytro Volkov concedes that some trading strategies do require quick actions and calculations. He says since humans cannot perform such trading strategies this task is left to a trading bot. However, according to the CTO, the “most successful trading strategies still require constant supervision and guidance from experienced high-skilled human traders – quants.”
Youtuber Matt Wallace noted the internationalization of the DOGE rally in August and the shifting of action to Binance, a major cryptocurrency exchange. Meanwhile,…