A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance, according to the head of business development at Lido DAO. Jacob Blish — who leads business development at Lido’s decentralized autonomous organization — told Bloomberg in a Feb. 13 report that the most significant risk would be if the SEC
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The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program. In a recent announcement, the CBUAE introduced the FIT program and highlighted its aim to support the country’s financial
Software giant Microsoft is shutting down one of its most significant groups dedicated to the development and promotion of the industrial metaverse. According to reports, the company terminated its whole Industrial Metaverse Core group, which was composed of 100 employees, as part of the 10,000-person layoff rounds announced in January. Microsoft Reportedly Terminating Industrial Metaverse
Blockstream CEO Adam Back believes the price of Bitcoin (BTC) could reach $10 million by the end of the sixth halvening in 2032, as long as Bitcoin layer-2 technology and wallet infrastructure improves. In a Feb. 12 Twitter thread, Back, one of the contributors to Bitcoin core, was explaining to his 509,000 followers in what
The United States Securities and Exchange Commission (SEC) has reportedly told stablecoin issuer Paxos Trust Co. it’s planning to sue the firm for violation of investor protection laws in relation to Binance USD (BUSD). According to a Feb. 12 report in The Wall Street Journal citing people familiar with the matter, the SEC issued a
Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility. Although the near term is uncertain, analysts at Delphi Digital expect
U.S. Federal Reserve Governor Christopher Waller has warned that crypto prices could fall to zero at some point. “Please don’t be surprised and don’t expect taxpayers to socialize your losses” when that happens, the Fed governor stressed. Crypto Prices Could Go to Zero, Fed Official Warns Federal Reserve Governor Christopher J. Waller warned about the
The first production update of 2023 from publicly listed Bitcoin (BTC) mining companies shows a steady increase in hash rate and a surge in BTC production compared to the previous month, according to a new analysis from Hashrate Index. The majority of public miners increased their bitcoin production in January, with CleanSpark boosting it by
What is monetary policy? Monetary policy refers to the actions taken by a central bank or monetary authority to manage the supply of money and interest rates in an economy, with the aim of promoting economic growth and stability. To affect the price and accessibility of credit, this may entail altering the money supply, setting
Bitcoin’s difficulty decreased 0.49% on Feb. 12, 2023, following a sustained all-time high of 39.35 trillion over the previous two weeks (2,016 blocks). The decrease in difficulty offers a brief respite for bitcoin miners, after the network recorded a 14.94% increase in the last month. Bitcoin Difficulty Drops 0.49% Lower; Top Five Mining Pools Continue
For the first time in centuries, paper money, or fiat, found its true competition in the internet era. When Bitcoin (BTC) debuted in 2009, the fiat ecosystem was not only challenged with proving its worth in day-to-day transactions but also safekeeping the investment ecosystem it helped build. Over the years, the crypto ecosystem attracted people
Bitcoin (BTC) edged closer to $22,000 over the weekend as traders and analysts urged caution on overly bearish sentiment. Analyst dismisses “hysterical” crypto sentiment Data from Cointelegraph Markets Pro and TradingView showed BTC/USD seeing small spurts higher into Feb. 12. After hitting three-week lows the week prior, Bitcoin was a target for opportunistic whales, on-chain
A major Brazilian bank is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies. According to a statement published by Brazilian bank Banco do Brasil on Feb. 11, it is now “possible” for Brazilian taxpayers to pay their tax bill with crypto in a joint initiative with Brazilian-based crypto firm Bitfy.
The Consumer Federation of California (CFC), a nonprofit advocacy organization working for consumer rights, sponsored a bill that seeks to license and regulate the activities of cryptocurrency exchanges. The legislation demanding regulatory oversight of crypto businesses — the Digital Financial Assets Law — was introduced by Assemblymember Timothy Grayson with the aim of protecting Californians
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to
While Satoshi Nakamoto is credited as the anonymous creator of Bitcoin (BTC), what often goes unnoticed are the selfless contributions of the community members — miners, developers, designers, hodlers and investors — that help materialize the original vision. However, one such significant contribution was found to carry an imperfection for over 12 years, invisible to
Rumors of an impending crypto ban came to fruition on Feb. 9 with the Securities and Exchange Commission’s enforcement action against Kraken, which resulted in a settlement where the exchange agreed to end its staking services for American users. The action will likely extend to all companies based in the United States. Reactions were predictable
Bitcoin (BTC) is beginning its “seventh bull cycle,” and investors should not be scared of crypto post-FTX, Pantera Capital believes. In its latest “Blockchain Letter” on Feb. 8, the asset management firm’s CEO, Dan Morehead, predicted that 2023 would be a “year for rebuilding trust.” Morehead: Crypto assets have “seen the lows” this cycle With
Top Stories This Week Kraken reaches $30M settlement with SEC over staking as IRS seeks user information Kraken has agreed to stop offering staking services or programs to United States clients after reaching an agreement with the U.S. Securities and Exchange Commission (SEC). Along with ceasing operations, the crypto exchange will pay $30 million in
The Chinese government is setting up a national blockchain innovation center in Beijing to focus on industrial applications and major use cases of blockchain technology, particularly those related to the Chinese economy. China Establishing New Blockchain Center China’s Ministry of Science and Technology has approved the establishment of a blockchain research center called the National