Last week, the United States took a step closer to regulatory clarity for its crypto industry. In a 35–15 vote, the House Financial Services Committee (FSC) approved the Financial Innovation and Technology for the 21st Century Act. The bill is intended to establish rules for crypto firms on when to register with either the Commodity
Month: July 2023
Bitcoin (BTC) stayed static at the July 31 Wall Street open as analysis warned that the net was closing in for bulls. BTC/USD 1-hour chart. Source: TradingView $28,300 “last line of defence” for BTC price Data from Cointelegraph Markets Pro and TradingView followed the BTC price as it greeted the last trading day of July
The S&P 500 Index (SPX) continued its march toward its all-time high with a 3% gain in July. Signs of receding inflationary pressures and expectations of an end to the Federal Reserve’s tightening cycle are the factors that boosted risk-on sentiment. However, this bullish mood did not benefit Bitcoin (BTC) as it largely remained range-bound
Litecoin, unlike other cryptocurrencies, put in a bottom long before the FTX collapse. Following a short period outperforming the rest of the market, the now ranked lucky number 13 by market cap has gone stagnant. The state of boredom could soon come to an explosive end, with Litecoin potentially on the cusp of a major,
Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with
Major cryptocurrency exchange Binance has reached another milestone in relationships with regulators in the United Arab Emirates by winning a new license in Dubai. Binance’s Dubai-based subsidiary, Binance FZE, has obtained the Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), the firm announced on July 31. The new license officially
Authorities in the town of Miri on the island of Borneo shut down an illegal cryptocurrency mining operation and seized equipment following a tip-off from the public. According to local news outlet The Borneo Post, Sarawak Energy discovered the operation, which included 34 cryptocurrency mining servers operating using stolen electricity through cable tapping. Authorities seized all
Several Curve Finance liquidity pools were attacked on July 30 due to a vulnerability found in the programming language Vyper. Vyper is a contract programming language created for the Ethereum Virtual Machine (EVM). Curve Finance is one of the key decentralized finance (DeFi) protocol due to the key liquidity services it offers, thus the code vulnerability
United States Representatives Gus Bilirakis and Jan Schakowsky penned a formal letter to Apple CEO Tim Cook about concerns related to the California-based company’s App Store, and the potential effect of its guidelines on emerging technologies like blockchain and nonfungible tokens (NFTs). The letter requests information about whether the App Store’s guidelines might inadvertently hinder
Decentralized finance (DeFi) protocols are undergoing a stress test following a critical vulnerability was found on versions of Vyper programming language, resulting in the theft of millions of dollars’ worth of cryptocurrencies on July 30. A number of pools using Vyper 0.2.15, 0.2.16 and 0.3.0 have been exploited due to a malfunctioning reentrancy lock, targeting
The crypto community has come together to celebrate the 8th birthday of the Ethereum network, marking eight years since when the Ethereum Foundation first sent the network live. On July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. “The vision of a
According to a tweet posted on Sunday, March 5, Litecoin’s highly-anticipated halving event is set to take place in the next 150 days. This means that the latest and third halving of Litecoin cryptocurrency will happen on August 4, 2023. Litecoin halving is a major event that occurs when the reward for mining LTC transactions
The recent flood of scam tweets on pro-XRP lawyer Jeremy Hogan’s hacked account has finally dried up after nearly four days. Since July 24, the XRP community has been diligently warning others and tagging Twitter’s support after they noticed Hogan’s account tweeting malicious links for a purported XRP (XRP) giveaway. As of 1 am on
Amid accelerated efforts to expand its global presence, Ripple Labs has allied with Catalyze Research to boost XRP Ledger (XRPL)’s user base in South Korea. Leading web3 and blockchain-focused consultancy firm, Catalyze Research, took to Twitter to announce the strategic collaboration on July 26, following Ripple’s official blog announcement on Tuesday, July 25. This partnership will
In a letter to Judge Lewis Kaplan, the United States Department of Justice (DOJ) sought the revocation of Sam Bankman-Fried’s (SBF) bail, accusing him of attempting to tamper with witnesses, including leaking his ex-girlfriend’s diary entries to the New York Times (NYT). These actions, connected to the FTX case, have raised concerns about witness interference.
Bitcoin (BTC) has been stuck in a narrow range for the past several days. A minor positive is that the range has formed near the recent local high. This suggests that the bulls are not rushing to the exit as they anticipate another leg higher. Bitcoin’s consolidation has pulled its market dominance to 48% from
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