Moody’s to Assess Risk and Health of Stablecoins With New Scoring System

• Moody’s Corp., an integrated risk assessment firm, will start looking at how it can ascertain the risk and health of stablecoins.
• Moody’s scoring system will have an analysis of up to 20 stablecoins, which be based on the quality of attestations on their reserves.
• Moody’s stablecoin scoring project is still in an early phase, and the score would not be equivalent to an official credit rating.

Moody’s Corporation, an integrated risk assessment firm, is set to begin evaluating the risk and health of stablecoins. The company’s arm, Moody’s Investors Service, specializes in providing credit ratings for businesses across various industries, including publicly traded crypto companies.

The need to rate stablecoins comes amidst renewed pressure from governments and regulators around the world. To that end, Moody’s is looking to create a scoring system for stablecoins that will have an analysis of up to 20 stablecoins, based on the quality of attestations on their reserves. A source close to the company’s plans told Bloomberg News that this scoring system is still in its early stages, and that the score will not be equivalent to an official credit rating.

The two main types of stablecoins are algorithmic and collateral. Algorithmic stablecoins use a complex set of algorithms and smart contracts to maintain their value, while collateral stablecoins are backed by a reserve of fiat currency or other assets. Both types of stablecoins are designed to maintain a stable value, usually pegged to a fiat currency like the US dollar.

Moody’s stablecoin scoring system is a step forward in the world of cryptocurrency, as it provides an objective measure of the health of different stablecoins. The rating system also helps to increase trust and transparency in the industry, as well as provide insight into the potential risks associated with different stablecoins.

It remains to be seen how Moody’s scoring system will be received by the crypto community, but it is a promising development for the future of cryptocurrency. It is likely that other rating agencies will follow suit and create their own rating systems for stablecoins in the near future. Ultimately, the rating system will be beneficial for the industry as a whole, providing investors with the information they need to make informed decisions.

Betere schaalbaarheid met Bitcoin Cash

De vraag naar schaalbaarheid is een van de meest actuele onderwerpen in de wereld van cryptocurrencies. Er is veel discussie over hoe cryptocurrencies beter kunnen worden geschaald om de vraag naar transacties te verwerken. Een van de meest besproken cryptocurrencies die wordt gebruikt om de schaalbaarheid te verbeteren, is Bitcoin Cash (BCH). In dit artikel zullen we kijken naar wat Bitcoin Cash is, hoe het schaalbaarheid verbetert en wat dit betekent voor de toekomst.

Introductie

Cryptocurrencies zoals Bitcoin worden gebruikt als een veilige en betaalbare manier om transacties uit te voeren. Omdat het systeem gedecentraliseerd is, is het niet afhankelijk van een centrale autoriteit. Het is echter beperkt in schaalbaarheid, wat betekent dat het aantal transacties dat het kan verwerken beperkt is. Om de schaalbaarheid te verbeteren, heeft Bitcoin Cash (BCH) zijn intrede gedaan.

Waarom schaalbaarheid zo belangrijk is

Schaalbaarheid is belangrijk omdat het een gedecentraliseerd systeem mogelijk maakt dat veel transacties kan verwerken. Als een systeem niet schaalbaar is, kan het niet worden gebruikt voor veel transacties. Dit beperkt de mogelijkheden van het systeem. Bij Bitcoin Cash is dit probleem opgelost door de schaalbaarheid te verbeteren, waardoor het een veelgebruikte cryptocurrency kan worden.

Bitcode Al is een online platform waar gebruikers cryptocurrencies kunnen kopen, verkopen en ruilen. Met Bitcode Al kunnen gebruikers Bitcoin Cash kopen met fiat-valuta’s zoals euro’s en dollars. Bitcode Al biedt ook een verscheidenheid aan handelsinstrumenten om gebruikers te helpen hun portefeuille te beheren.

Wat is Bitcoin Cash?

Bitcoin Cash is een cryptocurrency die is gebaseerd op Bitcoin, met als doel om schaalbaarheid te verbeteren. De munt werd op 1 augustus 2017 gelanceerd als een hard fork van Bitcoin. Een hard fork is een technische verandering in de blockchain die betekent dat transacties die voor de hard fork werden uitgevoerd, niet meer geldig zijn.

Voordelen van Bitcoin Cash

Bitcoin Cash heeft verschillende voordelen ten opzichte van Bitcoin. De meeste potentiële gebruikers zien de transactiekosten als de belangrijkste voordelen. Bitcoin Cash-transacties hebben lagere transactiekosten dan Bitcoin, omdat er meer transacties per seconde kunnen worden verwerkt. Het netwerk is ook sneller, met transacties die in minder dan 10 minuten worden verwerkt.

Bitcoin Cash en schaalbaarheid

Schaalbaarheid is een van de belangrijkste voordelen van Bitcoin Cash. Door de verhoogde blokgrootte kunnen meer transacties per seconde worden verwerkt. Dit betekent dat Bitcoin Cash in staat is om meer transacties te verwerken dan voorheen mogelijk was.

Verbeteringen in schaalbaarheid

Naast de verhoging van de blokgrootte, heeft Bitcoin Cash ook andere verbeteringen doorgevoerd die de schaalbaarheid verbeteren. Een daarvan is het gebruik van een nieuwe technologie genaamd Segregated Witness (SegWit). SegWit vermindert de grootte van transacties en maakt het mogelijk om meer transacties in een kortere tijd te verwerken.

Hoe Bitcoin Cash schaalbaarheid verbetert

Bitcoin Cash heeft verschillende verbeteringen doorgevoerd waardoor het systeem schaalbaarder is geworden. De verhoging van de blokgrootte is een van de belangrijkste verbeteringen, waardoor meer transacties per seconde kunnen worden verwerkt. Bitcoin Cash heeft ook SegWit toegevoegd, waardoor transacties kleiner worden en er meer transacties per seconde kunnen worden verwerkt.

Wat betekent dit voor de toekomst?

Het toevoegen van schaalbaarheid aan Bitcoin Cash betekent dat het een veelgebruikte cryptocurrency kan worden voor transacties. Het betekent ook dat het netwerk een betere en efficiëntere manier heeft om transacties te verwerken. Dit stelt gebruikers in staat om hun transacties sneller te verwerken, wat de transactiekosten verlaagt.

Conclusie

Bitcoin Cash is een cryptocurrency die is ontwikkeld om de schaalbaarheid van het netwerk te verbeteren. Door de verhoging van de blokgrootte en het gebruik van SegWit-technologie, is het netwerk beter in staat om meer transacties per seconde te verwerken. Dit stelt gebruikers in staat om hun transacties efficiënter te verwerken, wat de transactiekosten verlaagt. Bitcode Al biedt gebruikers de mogelijkheid om Bitcoin Cash te kopen met fiat-valuta’s. Met de verbeterde schaalbaarheid van Bitcoin Cash is het een veelbelovende cryptocurrency voor de toekomst.

Gemini Co-Founder Threatens Lawsuit Against DCG, Silbert Over $900 Million Debt

• Cameron Winklevoss, co-founder of Gemini, threatened to file a lawsuit against Digital Currency Group (DCG) and its CEO Barry Silbert if they failed to make a „fair offer“ to creditors.
• Winklevoss argued that Genesis‘ bankruptcy does not insulate Silbert or DCG, and that they owe creditors an explanation.
• This follows a public dispute between Winklevoss and Silbert over the $900 million owed by Genesis to Gemini Earn.

Cryptocurrency giant Digital Currency Group (DCG) and its CEO Barry Silbert have been put on notice by Gemini co-founder Cameron Winklevoss. Winklevoss recently threatened to file a lawsuit against the two if they failed to make a “fair offer” to creditors, such as the users of Gemini Earn.

In a Jan. 20 Twitter thread, Winklevoss stated that the bankrupting of Genesis was an essential step in recovering the assets of Earn users. He added that the bankruptcy will also subject the firm to judicial oversight and make it reveal “machinations that brought us to this point”.

However, Winklevoss argued that Genesis’ bankruptcy does not insulate Silbert or DCG from accountability. He wrote, “We also believe that — in addition to owing creditors all of their money back — Genesis, DCG, and Barry owes them an explanation. Bankruptcy court provides a much-needed forum for that to happen. Sunlight is the best disinfectant.”

The dispute between Winklevoss and Silbert stems from the $900 million owed by Genesis to Gemini Earn. Winklevoss has accused Silbert of employing “bad faith stall tactics”, and has called for him to be sacked. In response, Genesis CEO Michael Moro has said that they are committed to addressing the debt.

The public dispute has caused much debate in the cryptocurrency community. Gemini has been vocal in its support of the Earn users, and has called on DCG and Silbert to make good on their promises.

It remains to be seen how the situation will play out, but it is clear that Winklevoss is not afraid to take legal action if necessary. He has made it clear that he believes that Genesis, DCG and Silbert owe the Earn users not just their money, but also an explanation.

800 BitConnect Victims to Receive $17M in DOJ Restitution

• 800 victims of the BitConnect Ponzi scheme will receive $17 million in restitution from the U.S. Department of Justice.
• The funds will be distributed to individuals from 40 countries.
• BitConnect was in operation from 2016 to 2018 and its associates have been charged and found guilty for various allegations.

BitConnect, a Ponzi scheme that operated from 2016 to 2018, has recently been ordered by the U.S. Department of Justice (DOJ) to deliver $17 million in restitution money to 800 victims located in 40 countries around the world.

BitConnect was widely recognized by both the public and legal proceedings as a Ponzi scheme. The project’s founder, Satish Kumbhani, was indicted in February of 2022, while lead U.S. promoter, Glenn Arcaro, pled guilty in September of 2021. Additionally, both were sued by the U.S. Securities and Exchange Commission in September 2021.

BitConnect’s associated crypto token, which held substantial value prior to the project’s shutdown, quickly collapsed after the project ceased operations. Various jurisdictions, including the U.K., Texas, and North Carolina, took action to restrict BitConnect’s operations at an early date, but due to its distributed structure and lack of central leadership, some aspects of the project continued even after its shutdown.

The DOJ seized $56 million of cryptocurrency with the intention of selling it and providing restitution to victims in November 2021. This $17 million restitution is part of the $56 million, and is the largest payout to victims of the Ponzi scheme to date.

The long wait for compensation for the victims of BitConnect is finally coming to an end. While the $17 million is a small fraction of the estimated $2.5 billion that BitConnect swindled from its investors, it is a significant step in the right direction for those affected.

Bitcoin Spikes to $16,795 as US Jobs Data Beats Expectations

• Bitcoin spiked to $16,795 in response to strong labor market data.
• The U.S. Bureau of Labor Statistics (BLS) released nonfarm payroll data showing 223,000 jobs were added in December 2022.
• This was higher-than-expected, as the forecast was to rise by 200,000 in the same month.

The news of a stronger-than-expected US labor market pushed Bitcoin to its peak levels of $16,795. This happened after the U.S. Bureau of Labor Statistics (BLS) released its nonfarm payroll data which showed that 223,000 jobs were added in December 2022. This was higher than the expected 200,000 jobs that were forecast for the same month.

The positive news of the labor market had an immediate effect on Bitcoin, with the leading cryptocurrency spiking to its peak level in response. This was a 0.7% swing to the upside, showcasing the strength of the crypto asset in the face of such positive economic news.

The labor market data was also a welcome sign that the US economy is recovering from the pandemic-induced slowdown. This was due to the increase in jobs in the hospitality sector, which has been particularly hard hit by COVID-19 restrictions. This can be seen in the fact that leisure and hospitality jobs were up by 355,000 in December.

The strong labor market data also had a positive effect on the stock market, with the S&P 500 index rising 0.4% in response. This is a sign that investors are confident in the US economic recovery and are willing to invest in riskier assets.

Overall, the positive economic news has been seen as a sign of hope for the global economy. With the US leading the way in terms of economic recovery, other countries are likely to follow suit in the near future. This could be a boon for the crypto market, as more investors become confident in the potential of digital assets.

Crypto Market Experiences Slight Sell-Off, Solana Re-enters Top 10

• The total market cap of the crypto market decreased by 0.86% over the past 24 hours, with most of the top ten cryptocurrencies printing losses.
• Solana re-entered the top 10 digital assets despite a 1.91% decrease in the last 24 hours.
• The market cap of Tether (USDT) and BinanceUSD (BUSD) increased slightly to $66.25 billion and $16.68 billion, respectively.

The cryptocurrency market has seen a slight sell-off over the past 24 hours, as the total market cap decreased by 0.86%, standing currently at $812.66 billion. Bitcoin’s market cap decreased by 0.59% to $322.33 billion, while Ethereum’s market cap fell by 0.86% to $152.17 billion.

Of the top 10 cryptocurrencies, most experienced losses, with Dogecoin and Polygon posting the highest losses with 4.2% and 2.98%, respectively. Cardano and Polkadot, however, recorded slight gains of 1.42% and 0.31%, respectively.

Despite the tepid market performance, Solana re-entered the top 10 digital assets after a brief absence, despite falling 1.91% in the last 24 hours. The market cap of Tether (USDT) and BinanceUSD (BUSD) slightly increased to $66.25 billion and $16.68 billion, respectively. USD Coin (USDC) market cap decreased to $43.8 billion.

Bitcoin fell 0.57% to trade at $16,738 as of 07:00 ET, with its market dominance slightly increasing to 39.7% from 39.6%. BTC mostly traded sideways during the last 24 hours but began to experience a slight sell-off during the early trading hours of Jan. 6. The asset peaked at $16,876 before beginning its descent.

Overall, the crypto market experienced a slight sell-off over the past 24 hours, with most of the top 10 cryptocurrencies printing losses. Despite this, Solana re-entered the top 10 digital assets and the market cap of Tether (USDT) and BinanceUSD (BUSD) increased slightly. Bitcoin’s market cap decreased by 0.59% to $322.33 billion, while its market dominance slightly increased to 39.7% from 39.6%.