Last week was relatively calm regarding enforcement news but brought some peculiar local developments in regulation. United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency (CBDC). According to the Minnesota lawmaker, the bill could prohibit the Fed from
Month: February 2023
Blur, a NFT marketplace, has seen its trading volumes and total sell-side liquidity skyrocket since conducting an airdrop on Feb. 14, 2023. The reason for the spike could be the start of season 2 airdrops, where 10% of BLUR token’s total supply will be distributed to certain users based on their activity. The team allocated
Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value. Majority of
The suspected actors behind the $6 million exploit of decentralized finance lending protocol Lendhub have just sent more than half of their ill-gotten gains from January into sanctioned crypto mixer Tornado Cash. Blockchain security firms PeckShield and Beosin alerted their respective followers to the movement of funds on Feb. 27, noting that around 2,415 Ether
Bitcoin (BTC) headed toward $24,000 at the Feb. 27 Wall Street open as a strong weekly close translated into further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin gains $1,000 versus weekend lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding in line with United States equities futures. The pair had seen
Alchemy Pay has obtained a license from the central bank of Indonesia to operate remittances and fund transfers in cooperation with local fintech firm Berkah Digital Pembayaran. Announcing the news on Feb. 27, Alchemy Pay noted that Bank Indonesia issued the licenses jointly to Alchemy Pay and Berkah Digital’s platform BDPay, enabling the firms to
Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered approximately $770,000 which belonged to MTI. Liquidators’ Fees Liquidators of the collapsed bitcoin Ponzi
Liquid staking protocol Lido Finance activated a protocol safety feature called “staking rate limit” after more than 150,000 Ether (ETH) was staked with the protocol in a single day. Lido is a liquid staking solution for digital assets, allowing users to stake Ether without them needing to have their tokens locked. When a user deposits Ether,
Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm. Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and
The International Monetary Fund would prefer to differentiate and regulate crypto assets rather than enforce an outright ban, though the nuclear option will remain on the table for now. Speaking on the sidelines of the G20 finance ministers meetings in Bengaluru, India, IMF Managing Director Kristalina Georgieva explained how the United Nations financial agency views
Ukraine has received over $70 million in cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with funds for military equipment and humanitarian assistance. The figures came from a Feb. 24 report by blockchain data platform Chainalysis, which found the majority of the funds to have come in the form of Ether (ETH) and
U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on the sidelines of the G20 meeting for finance ministers and central bank governors. “We haven’t suggested outright banning of crypto activities,” Yellen added. Janet Yellen on ‘Strong’ Crypto Regulation U.S. Treasury Secretary Janet Yellen talked
The cryptocurrency markets and the United States equities markets witnessed profit-booking this week as the macroeconomic data hinted toward continued rate hikes by the Federal Reserve. Bitcoin (BTC) is down more than 4% and the S&P 500 fell 2.7% to record its worst week of the year. The CME FedWatch Tool shows a 73% probability
The Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) will deliver papers and recommendations establishing standards for a global crypto regulatory framework, announced on Feb. 25 the group of the 20 biggest economies of the world, collectively known as G20. According to a document summarizing the outcomes
Bitcoin (BTC) sought to end the week above $23,000 into the Feb. 26 close as concerns heightened over stubborn resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price bulls keep faith in $30,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $23,318 on the day, up $600 from its weekend lows. The
On Saturday, the liquid staking protocol Lido tweeted about the largest daily stake inflow to date as 150,000 ethereum was staked. Reports indicate that the ethereum, worth more than $240 million, belongs to Justin Sun, founder of Tron. Liquid Staking Protocol Lido Records 150,000 Ether Inflow Lido, the liquid staking platform with the highest amount
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