United States Securities and Exchange Commission Chair Gary Gensler cited major enforcement actions against crypto firms as part of the “economic realities” of securities regulation. In written remarks for the Practising Law Institute’s Annual Institute on Securities Regulation on Nov. 2, Gensler used examples of SEC enforcement against crypto lending firm BlockFi and a former
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Participate in the Verse Public sale and opt into the exclusive raffle on Bitcoin.com Games to get up to $25,000 worth of Verse tokens for free. Bitcoin.com is launching Verse, a rewards and utility token that will be used across the full range of Bitcoin.com products including the official non-custodial wallet app where users can
Litecoin rose to its highest level in over six weeks on Wednesday, as the token moved past a key price ceiling. Today’s move comes despite cryptocurrency markets mostly trading lower, ahead of the Federal Open Market Committee (FOMC) meeting. Unus sed leo (LEO) was also higher, climbing for a ninth consecutive session. Litecoin (LTC) Litecoin
With the “Merge” and the accompanying change to proof of stake, the Ethereum blockchain received arguably the most crucial and largest upgrade of all time on September 15. With “Shanghai”, however, the next upgrade is already just around the corner. After a month-long break, Ethereum developers met last Friday for their 148th All Core Developers
Over the weekend, thousands of Bitcoiners and crypto enthusiasts descended on the small, sleepy Swiss town of Lugano. More specifically, they piled onto a McDonald’s restaurant. Perched on Lake Lugano, McDonald’s Lugano received countless visits from Bitcoiners keen to trade satoshis (the smallest denomination of Bitcoin) for Big Macs, McFlurrys and coffee. But why were
The world’s largest bitcoin options exchange, Deribit, was hacked for close to $28 million, according to an update from the company’s official Twitter account on Nov. 2. Deribit says that the firm’s hot wallet was drained just before midnight the day prior. Crypto Derivatives Exchange Deribit Loses $28 Million — Company Says Customer Funds Are
The Union Bank of the Philippines (UnionBank), one of the largest universal banks in the Philippines, debuts cryptocurrency trading via a partnership with a Swiss crypto firm. UnionBank has launched a pilot program for Bitcoin (BTC) and Ether (ETH) custody and trading services for select retail customers, the firm said in a joint announcement on
According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than last year in the third quarter, central bank gold buying tapped an all-time quarterly record in Q3 2022. The quarterly report indicates that the world’s central banks purchased close
Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of
On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27
A simple but elegant Bitcoin (BTC) price metric has returned to lows from before the 2017 bull market. As noted by its creator, Charles Edwards, CEO of asset manager Capriole, the Bitcoin Yardstick is now at its second lowest levels in history. Yardstick prints second-lowest reading ever As on-chain metrics converge to put in a
Chinese crypto exchange, which recently has had to disavow the rumors about massive layoffs inside the company, unveiled the plans to move its headquarters to one of the jurisdictions in the Caribbean, with Dominica being the first candidate. In the report from Nov. 1, citing one of the board members, the FT revealed the company’s
Major cryptocurrency derivatives exchange Deribit has halted withdrawals after suffering a $28 million hot wallet hack. Deribit exchange got its hot wallet compromised before midnight UTC on Nov. 1, the firm reported on Twitter. The exchange emphasized that client funds are safe as losses are covered by Deribit’s reserves, stating: “Client assets, Fireblocks or any
A growing number of economists have warned about a severe recession in the U.S. if the Federal Reserve keeps up its fight against inflation. “Each adverse development in the outside world implies the Fed is going to have to do more in order to bring the situation under control,” said one economist. Economists Warn of
The largest euro-backed stablecoin in the crypto ecosystem is now available on Ripple’s XRP Ledger (XRPL). According to the STASIS team, the integration on the XRPL, which began in February, was completed yesterday. EURS is the leading Euro stablecoin and ranks among the top 10 stablecoins worldwide with tens of thousands of users. Along with
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will be limited to managing the digital currency’s “operating system” while the handling of personal
Surging Bitcoin (BTC) network hash rates are causing problems for mining companies but might be rolling out the red carpet for energy giants. The Bitcoin hash rate, the amount of computing power given to the blockchain through mining, has reached another record peak. According to Blockchain.com, the metric hit an all-time high of 267 exahashes
Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank. Circle received in-principle approval for a Major Payments Institution License allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments while Paxos received its license to offer digital payment token
The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin (BTC) portfolio despite poor crypto market conditions. The world’s largest publicly traded corporate Bitcoin owner confirmed it still owns 130,000 BTC at the end of Q3 2022. That amount represents
DBS Bank, a major financial services group in Asia, is applying decentralized finance (DeFi) for a project backed by Singapore’s central bank. DBS has started a trading test of foreign exchange (FX) and government securities using permissioned, or private, DeFi liquidity pools, the firm announced on Nov. 2. The development is part of Project Guardian,