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To far, Proof has reported that it has successfully concluded a $50 million Series A fundraising round led by Andreessen Horowitz. Andreessen Horowitz sponsored a $50 million funding round for Proof, which recently closed (a16z). In addition to these investors, Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund all contributed to the total. Seven Seven Six has invested $10 million in PROOF back in April. In addition, the corporation released specifics regarding the technology that is used to power its web3 platform, in addition to ambitions for the expansion of the whole ecosystem. The firm is now working on a platform to aid NFT collectors in dealing with local communities to gain access to utilities. Kevin Rose, Proof's co-founder and CEO, made the news, alongside Justin Mezell, another co-founder, and Harri Thomas, the company's director of product. money raised at a live-streamed community event. Kevin Rose commented on the funding, sayi...

Technical analysis makes use of the head and shoulders pattern. A particular chart pattern demonstrates the transition from a bullish to a bearish trend. The pattern resembles a line with three peaks, the center peak being the tallest and two of the peaks being around the same height. When a stock's price reaches its peak and then declines down to its starting point, a head and shoulders pattern is formed. The price then rises beyond the prior peak, creating the "head," before falling to the starting point. The stock price then increases to a point that is about equal to the formation's first high before declining once more. One of the best indicators of when a trend may change is the head and shoulders pattern. It is one of a select group of prominent patterns that suggests, in varying degrees, that a rising trend is going to come to an end. Understanding the Head and Shoulders Pattern A head and shoulders pattern has four components: The price rises steadily for a w...

On Thursday, Asian currencies declined as the dollar rose on promises from Federal Reserve officials to keep raising rates despite a cooling of inflation. A weakening GDP prognosis for Singapore also played a role. The Japanese yen fell by 0.2% while the Chinese yuan dropped by about 0.3%. After recording minor gains on Wednesday, the majority of other Asian currencies were trading negatively. The U.S. dollar index increased by 0.2% as of 23:21 ET (03:21 GMT), following a 1.1% drop on Wednesday. After a comparable band of losses, dollar index futures were up 0.2%. Neel Kashkari, president of the Minneapolis Fed, stated that although Wednesday's U.S. inflation report was better than expected, the central bank would continue to tighten policy until its inflation target is reached. As a result, the target rate might increase to 4.4% by the end of the year. While Kashkari is thought to be the Fed member who is the most hawkish, others anticipate that interest rates will continue to ris...

Since its inception in 2009, Bitcoin and other cryptocurrencies have been the subject of controversy. Even while cryptocurrency is sometimes attacked for its volatility, its usage in unlawful transactions, and the enormous amount of electricity required to produce it, some individuals, particularly in underdeveloped nations, view it as a safe haven amid economic storms. In September 2021, El Salvador was the first country to legalize its currency. In April of this year, the Central African Republic became the second nation to do so. As more and more individuals use cryptocurrencies as investments or as a means of subsistence, however, skeptics have come up with new strategies to restrict their usage. The legal status of Bitcoin and other "altcoins" (coins that are similar to Bitcoin) varies greatly from nation to country, and in some jurisdictions, the relationship between the two is still unclear or is in a constant state of flux. Even while the majority of nations do ...

Bend DAO's dev team regrets underestimating how illiquid NFTs could be in a bear market when setting initial parameters. Bend DAO's developers proposed emergency measures Monday to stabilize the ecosystem. The same day, the project had just 15 wrapped Ether (wETH) worth $23,715 to repay lenders. The mechanism lent 15,000 ETH. Bend Dao's development team suggested limiting collateral liquidation to 70% of loan value, down from 85%, to avoid a credit crisis. Next, its platform will reduce NFT auctions from 48 to 4 hours. The requirement that Bend DAO's minimum bid price be 95% of OpenSea's floor price would be removed. Loan rates will drop from 100% to 20%. Finally, BendDAO's treasury could cover bad debts with revenue. Even among reputable collections, falling NFT floor prices in the bear market have put many NFTs in danger of liquidation as interest rates soar. As interest rates on "debt-secured" NFTs skyrocket to nearly 100%, some users may find it mo...

Ukrainian president Volodymyr Zelensky accused Russia of "barbarism" after rockets hit Odesa, endangering a deal to reopen grain exports from Black Sea ports and ease global food shortages. Russia struck Odesa with cruise missiles just 12 hours after signing an agreement with Kyiv to enable monitored grain exports from Ukraine's southern ports. Zelensky termed the incident "barbaric," proving Moscow couldn't be trusted to follow the pact. During a meeting with US congressmen, he remarked, "This proves just one thing: no matter what Russia says and pledges, it will find ways not to do it." Eyewitness footage from the port area shows one of the missiles bursting near the beachfront and a parked ship. The UN, EU, US, UK, Germany, and Italy condemned the Odessa attacks. Antony Blinken, the US secretary of state, said the attack casts doubt on Russia's adherence to yesterday's pact. "Russia must halt its actions for aggravating the world fo...

The head and shoulders top is used to anticipate reversals in downtrends. The price action of a security exhibits this pattern when the price falls to a trough and then rises; the price falls below the previous trough and then rises; and the price falls but does not reach the second trough. As soon as the final dip is formed, the price rises toward the resistance located at the apex of the previous troughs. What does an inverted head and shoulders pattern indicate? Generally, investors initiate a long position when the price rises above the resistance of the neckline. The first and third valleys represent the shoulders, while the second peak represents the head. A break above the resistance level, also known as the neckline, is interpreted as an indication of a rapid upward surge. Numerous traders anticipate a substantial volume rise to validate the breakout. This pattern is used to forecast shifts in a downward trend and is the inverse of the well-known head and shoulders pattern. Mea...

  Tesla CEO Elon Musk unveils "Optimus" at "AI Day" on Friday. A robot-based business would be worth more than a car-based business, the billionaire said. He wants to move beyond self-driving cars, which he has repeatedly promised. Onstage, a robot model waved to the audience. In the automaker's factory, a video showed the robot moving metal bars and watering plants. "Our goal is to make a useful humanoid robot as soon as possible," Musk said. "Optimus needs a lot of work to be effective." Musk said humanoid robots "lack a brain" because they can't travel the world independently. He also said they're expensive and rare. Optimus would be mass-produced in the millions and cost less than $20,000, he said. Musk expected to discuss Tesla's self-driving car technology. In May, the CEO said the world's most valuable car company would be "worthless" without self-driving cars. The company faces regulatory and techno...

The military's innovation division is currently conducting a thorough analysis of cryptocurrencies to ascertain the dangers that the advent of digital assets poses to law enforcement and the security of the country. The Defense Advanced Research Projects Agency, often known as DARPA, will conduct the research, which will last a year. The initial technology to support the internet was developed by DARPA. The startup will offer tools that give the Pentagon a thorough understanding of the inner workings of cryptocurrency marketplaces, in part to help law enforcement crack down on the unlawful use of digital assets. According to Mark Flood, a program manager at the group, the current study "involves mapping out the bitcoin ecosystem in some depth." In addition to combating illicit funding, the government hopes to utilize the data to improve understanding of the forces influencing traditional financial markets, where exact information is more elusive. The deal is the most rece...

John Robb & Son in Neilston, East Renfrewshire, sells unleaded petrol for 168.9p and diesel for 183.9p. He says his firm is doing this to reduce poverty-related distress. Major retailers are being criticized for not passing on a wholesale price cut to customers. Average petrol pump prices declined 9p in July to 182.69p per litre, while diesel fell 7p to 192.38p per litre, according to the RAC. The motoring industry says drivers are still paying too much at the pumps compared to wholesale costs, which have reduced 20p in eight weeks. It indicates gas should be 167p/l. Mr. Robb lowered his gas and diesel pricing to match the wholesale rate. The company owner told BBC Scotland, "We're in a tiny town, and that reflects poorly on you." Long-term. "We're not here for short-term profits. "The community supports me." He says the gas station, which has been in his family for four generations, makes "no money" from fuel sales. The tactic has brought...

With a new partnership with the leading Web3 company The Sandbox, eSports, lifestyle, and media company FaZe Holdings Inc (NASDAQ: FAZE) is heading to the metaverse. The decentralized metaverse business The Sandbox, which is part of Animoca Brands, has announced a partnership with the North American gaming and esports organization FaZe Clan. Through this agreement, FaZe Clan will set up a virtual territory called FaZe World and enter the metaverse. In the release, it says that FaZe and Sandbox will work together to create new ways to make money and to host events and other experiences in FaZe World. "Faze Clan into metaverse" is a joint project between: The FaZe Clan will make FaZe World, a 12-by-12-foot virtual plot in the Sandbox metaverse. "Part virtual real estate and part amusement park," say the two companies, is how they describe the world. To back up this idea, they plan to build digital infrastructure. In FaZe World, FaZe and Sandbox will host virtual event...

For the purpose of running and certifying smart contracts, Ethereum is a decentralized blockchain platform. Participants can transact using smart contracts without the need for a centralized authority. Immutable, verifiable, and securely distributed transaction records are available to participants at all times. Ethereum accounts are used to send and receive transactions. For the network to conduct a transaction, the sender must sign it and make a payment in ether. According to Ethereum, the Merge upgrade was successful and more upgrades will come in the future. The Merge is a significant advancement in reducing the amount of electricity that the Ethereum blockchain uses, but there are still lots of enhancements that are being considered. The lengthy wait for the Paris update is over, according to the Ethereum Foundation, with the completion of the last phase at 2:45 p.m. Hong Kong time. The Merge, a significant adjustment to the infrastructure of the second-largest blockchain in the w...

The Enforcement Directorate (ED), India's financial crime enforcement agency, is investigating cryptocurrency exchanges accused of processing transactions that transported more than 10 billion rupees, or nearly $130 million, from organizations under investigation to worldwide wallets. According to an official who talked to The Economic Times, at least ten crypto exchanges are allegedly implicated, and the bank accounts of exchange WazirX have been suspended, the newspaper stated. Companies under investigation in a case involving rapid loans allegedly conducted transactions of up to 1 billion rupees, or $1.3 million, in the names of people with no relation to the money. These businesses were frequently linked to China. Despite the fact that Know Your Customer/Anti-Money Laundering (KYC/AML) protocols revealed that the transactions were suspicious, the ED said that no increased due diligence was done and no suspicious transaction reports were lodged. Last Monday, the ED blocked Wazir...

A programming fault in a recent governance proposal to alter the Compound's price feeds has affected the decentralized lending platform. The coding bug has "temporarily stopped" the Compound ETH (cETH) market, causing cETH transactions to reverse, but Compound Labs has claimed that "funds are not immediately at risk" despite the front end not operating. Compound Labs revealed on August 31 that the code fault was caused by Proposal 117: Compound Oracle Upgrade v3, which was done just a few hours ago to update the Compound protocol's oracle contracts to a new version that uses Uniswap V3 instead of V2 for price feeds. Compound Labs stated that it intended to revert to the prior price feed via Proposal 119: Oracle Update in response to the cETH market briefly freezing. The new proposal was produced less than an hour after Proposal 117 was executed, but it must now go through a seven-day governance process before it can take effect. According to an update from O...

BlackRock, the world's largest asset manager with over $10 trillion in total assets, announced the launch of a new private spot Bitcoin (BTC) trust in a blog post published on Thursday. The fund is only available to institutional investors in the United States and aims to track the performance of Bitcoin after deducting the trust's expenses and liabilities. "Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities," BlackRock explained. Bitcoin is the oldest, largest, and most liquid digital asset, and it is currently the primary topic of interest for our clients in the digital asset space." Private investment trusts that do not solicit investments from retail investors are not required to register with US regulatory authorities. Others, however, such as the Grayscale Bitcoin Trust, ca...

Crypto traders are constantly on the lookout for the best opportunity. But they will need more than luck to succeed. You must be able to "read" patterns in order to predict how cryptocurrency will move in the future. These factors include market news, historical data on how the market has performed, volume, buying time, regulations, and much more. As a result, determining the best time to buy or sell cryptocurrency is difficult. The Best Weekday to Invest in Cryptocurrency Tuesday appears to be the best day of the week to buy cryptocurrency, followed by Thursday and Saturday. The same data that was used to determine the best time to buy cryptocurrency was used to reach this conclusion. However, the 2022 crypto winter has caused prices to drop rapidly and unpredictably, and it doesn't appear to be due to anything other than fears that the market will fall even further. Furthermore, the fear that the market will fall even further has caused prices to fall. As a result, this...

Oil prices rose slightly on Wednesday as data showed firm fuel demand in the United States, providing some relief after a 5% drop the previous day on fears of demand being harmed by increased China COVID-19 curbs and central bank interest rate hikes. A slightly weaker US dollar also supported the market, making oil cheaper for buyers holding other currencies. WTI crude CLc1 futures in the United States rose 90 cents, or 1%, to $92.54 per barrel at 0306 GMT, after falling $5.37 the previous session due to recession fears. Brent crude LCOc1 futures for October, which expire on Wednesday, rose 70 cents, or 0.7%, to $100.01 a barrel, reversing a $5.78 loss on Tuesday. LCOc2, the more active November contract, was up 96 cents, or 1%, at $98.80 per barrel Since the Ukraine conflict began six months ago, price swings have rattled hedge funds and speculators and thinned trading, causing the market to whipsaw even more, as seen on Tuesday. "I can't emphasize enough that the lack of liq...

  According to a fortnightly poll of 12 analysts, short positions on all emerging Asian currencies fell, with bets on China's yuan at their lowest since late April. Short positions in the Philippine peso, Singapore dollar, and Indonesian rupiah all hit multi-month lows. An unchanged July inflation print in the United States, the first notable sign of relief after years of rising prices, also helped boost sentiment in the region. Short bets on the Thai baht fell to their lowest level since early June after the Bank of Thailand (BoT) raised its interest rate by 25 basis points on Wednesday, resuming its tightening cycle after trailing regional peers. Thailand, whose economy is heavily reliant on tourism, has begun to show signs of a gradual economic recovery as tourists return, allowing the BoT to adjust its monetary policy. Analysts widely anticipate that the BoT will maintain gradual policy normalisation throughout the rest of the year. The baht, one of the least shorted currencies...