The United States Securities and Exchange Commission (SEC) believes Filecoin’s native FIL token is a security, crypto asset manager Grayscale Investments has revealed. According to the May 17 announcement, Grayscale lodged an application with the regulator to launch a Filecoin Trust product on April 14, which would provide investors with indirect exposure to the underlying
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Software developer Jameson Lopp believes improving usability and user experience of Bitcoin (BTC) self-custody solutions and making more avenues to acquire BTC will be key in further adoption of the preeminent cryptocurrency. The co-founder of Casahodl, who’s a prominent figure in the Bitcoin and wider cryptocurrency space, spoke of the challenges in building self-custody solutions in
On today’s episode of The Market Report, analyst and writer Marcel Pechman discusses if Bitcoin (BTC) is safer than the United States dollar, considering the U.S. government’s risk of defaulting on its debt. He also covers why Bitcoin’s $28,000 resistance will not be a walk in the park and, finally, what is happening between Celsius,
On May 15, the Supreme People’s Procuratorate of the People’s Republic of China, the national agency responsible for legal prosecution, shared its thoughts on the non-fungible token (NFT) market. In an article published, three authors laid out the prosecutors’ vision of the market risks and the following reasons to enforce it more actively. The article
Bitcoin (BTC) is entering a new “speculation cycle” typical of a bull run, new analysis says. In a tweet on May 16, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite Decentrader, revealed history repeating itself according to the RHODL Ratio metric. RHODL Ratiocreator on BTC price: “Zoom out” RHODL Ratio is
Bitcoin (BTC) users have been given a possibly more efficient way to mint new assets on the blockchain aft an updated edition of the recently-rebranded Taproot Assets Protocol was released by Lightning Labs. In a May 16 blog post, Lightning Network infrastructure firm Lighting Labs criticized the current methods by which assets are inscribed on
Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawals this week. Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,084 stETH in batches of 1,000.
The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes. DAC8 was proposed in December and approved May 16
The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report. The United Kingdom is currently working on a crypto regulatory framework that would mix existing financial asset laws with new crypto-specific rules.
Bitcoin (BTC) surfed $27,000 on May 16 as traders stayed buoyant about upside continuation. $24,000 BTC price still in play, says trader Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still focusing on the $27,000 mark, having dipped to $26,870 after the daily close. Still lacking direction, traders hoped that the pair would either
The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest,” she
Cryptocurrency investment group CoinShares recently published its Q1 earnings report for 2023 amid what it’s calling a “return to profitability.” Highlights of the report include revenue in the amount of $11.73 million (down from $22.46 million in Q1 2022), total comprehensive income of $3.62 million (down from $25.83 million in Q1 2022) and an adjusted
Since May 12, Ether (ETH) price has been struggling to sustain its $1,800 support level as investors face pressures from a worsening crypto regulatory environment and the Ethereum network’s high gas fees. Also negatively impacting Ether’s price are 3 indicators signaling reduced demand for its decentralized applications (DApps) and a lack of leverage buying demand
Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus. The Senate judiciary subcommittee session represented Altman’s first official appearance before Congress, giving senators the opportunity to question the OpenAI CEO concerning his company’s views on regulation. ‘If this
On May 15, 2023, the number of Ordinal inscriptions surpassed the 7 million mark and as of 9:00 a.m. Eastern Time on Tuesday morning, 7,204,882 Ordinal inscriptions have been added to the Bitcoin blockchain. Miners have collected 1,324 bitcoin in fees by confirming inscription transactions which equate to roughly $35.86 million in added onchain fees.
Amid the rising popularity of hardware cryptocurrency wallets, the Russian cybersecurity firm Kaspersky has reminded users about the importance of using authentic crypto devices. Kaspersky’s cyber incident expert Stanislav Golovanov on May 10 reported on an issue with fake hardware wallets impersonating major wallet firm Trezor. According to the blog post, the fake wallet allowed
It appears that embattled crypto lender Celsius is wasting no time in shifting its Ethereum staking tokens from liquid staking platform Lido which has just enabled withdrawals. On May 15, a transaction was identified on Celsius wallets for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet. The whopping stash was worth $781
The United States Democratic Party has expressed its intent to back the Securities and Exchange Commission’s (SEC) total authority over crypto in a memo circulated among committee members before a hearing. The documents were shared on social media, causing backlash from crypto community members. On May 10, the documents were shared on Twitter, highlighting key
The price of Lido DAO (LDO) has rebounded to its three-week high of $2.21 as of May 16, up 40% when measured from its local low of $1.57, established four days ago. This impressive double-digit recovery appeared in tandem with other top-ranking crypto assets, including Bitcoin (BTC) and Ether (ETH). However, LDO has greatly outperformed
The launch of BRC-20 tokens and Ordinals NFTs on Bitcoin has transformed the No. 1 blockchain overnight into a clunkier version of Ethereum. The core developers and miners who signed off on the network’s Taproot upgrade in November 2021 never envisaged this would be the result. Bitcoin now suffers from many of the same problems