According to the U.S. Securities and Exchange Commission’s Paul Munter, the agency’s acting chief accountant, the U.S. regulator is monitoring proof-of-reserves (POR) more closely. “We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter explained to the Wall Street Journal (WSJ) on Dec. 22. SEC
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Bitcoin (BTC) is on track to end the year with a loss of about 65%. This would mark the third negative year for Bitcoin with the other two being 2014 and 2018. In comparison, the S&P 500 has fared much better but that is also down close to 20% in 2022. Although cryptocurrency prices have seen deep
The United States Federal Election Commission (FEC) has issued an advisory opinion stating DataVault Holdings may use nonfungible tokens for fundraising efforts. In a Dec. 15 notice, the FEC said it was “permissible” for DataVault holdings to send nonfungible tokens, or NFTs, to political campaign contributors without violating rules on corporate contributions. According to the
While U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler is calling for a crackdown on the crypto industry based on existing laws and jurisprudence, he may find his nemesis in Ripple and the battle over the Hinman documents. As Bitcoinist reported yesterday, redactions of all documents related to the summary judgment were due to
Cryptocurrencies have suffered immensely in 2022 from the onslaught of a hawkish Federal Reserve and the implosions of crypto platforms FTX, Terra, Celsius Network, and others. What were the most-searched cryptocurrencies in 2022? Notably, the market valuation of all the cryptocurrencies combined has dropped 70% year-to-date (YTD) to nearly $770 billion, signifying massive capitulations by traders
Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to withdraw an equivalent of $1,120 per week starting on Jan. 9, 2023. The central bank said individuals and corporate organizations withdrawing amounts exceeding the new
Crypto Twitter has seemingly taken issue with Sam Bankman-Fried’s $250 million bail bond, allowing him to spend Christmas in his parent’s Palo Alto home without paying a single dime upfront. The former FTX CEO arrived in New York from the Bahamas on Dec. 21 and appeared in court on Dec. 22 where he was released
Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with central bank digital currencies (CBDCs), according to one industry executive. While crypto is often associated with financial freedom, the concept of CBDC is frequently seen as the exact opposite. But this doesn’t mean that there cannot be a balance between the two, according
The governor of India’s central bank, the Reserve Bank of India (RBI), has warned that the next financial crisis will come from cryptocurrencies, like bitcoin and ether. The central bank chief added that cryptocurrencies pose “huge inherent risks” to India’s macroeconomic and financial stability. Indian Central Bank Warns About Crypto Causing the Next Financial Crisis
Bitcoin (BTC) price action may be “unsustainably high,” as one metric hits its highest levels in seven months. Data from on-chain analytics firm Glassnode confirms that on Dec. 21, Bitcoin’s network value to transaction (NVT) signal reached levels not seen since April. Bitcoin activity may not support $17,000 BTC price Created by statistician Willy Woo,
Despite the gloom of the ongoing cryptocurrency winter, coupled with the failures of crypto giants like FTX, the community appears to remain bullish on crypto, according to a new survey. Crypto markets saw a massive sell-off in 2022, with the total market capitalization plummeting nearly 70% since Bitcoin (BTC) reached its all-time high at $69,000
The last year has been an eventful one for the crypto space. The collapse of the Terra ecosystem and its TerraUSD (UST) algorithmic stablecoin saw $50 billion wiped off the market in a flash. And more recently, FTX, an exchange many thought was “too big to fail,” came crashing down. There’s been no shortage of
Unique addresses on the Build and Build (BNB) Chain have now surpassed Ethereum, according to a Dec. 22 statement from the developer. BNB Chain has made significant strides in onboarding the next billion users into #Web3 in 2022. We want to thank our incredible community for coming along for the ride as we lay the
Data shows an XRP whale has withdrawn $52 million in the token from Binance, something that might help the crypto turn around from its recent bearish trend. XRP Remains Weak, Declines Another 10% During Past Week This month of December hasn’t been kind to XRP investors as the asset’s value has only been going downhill
Twitter is now providing price charts with search results for major cryptocurrencies, such as bitcoin and ether. This new feature is “one of many product improvements coming to financial Twitter,” said Elon Musk, owner of the social media platform. Twitter Launches Price Chart Feature Twitter announced in a series of tweets Wednesday that it is
Bitcoin (BTC) fell at the Dec. 22 Wall Street open as United States equities reversed previous gains. Bitcoin risks new and unseen “death cross Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to intraday lows of $16,650 on Bitstamp. The pair remained a conspicuous stocks copycat as the S&P 500 opened down 1.6%
Inflation, cross-border payments, assets tokenization and nonfungible tokens (NFTs) were among the major drivers for crypto adoption across Latin America in 2022, sources in the region told Cointelegraph, with exciting examples of progress across many countries. Latin America made up 9.1% of the global crypto value received in 2022, reaching $562 billion between July 2021
It has been a tumultuous year for the crypto investors who have witnessed the total crypto market capitalization tumble from about $2.2 trillion at the beginning of 2022 to about $850 billion in December. The sharp erosion in valuation was caused due to several high-profile bankruptcies in 2022. The entire Terra ecosystem imploded with the
Magazine: Animoca was a successful mobile gaming company, with 10 million downloads and various apps in the top 10 on Apple’s App Store. Then you were suddenly thrown off the store in 2012. How did that change your views on Big Tech? Yat Siu, Animoca co-founder: The fact that platforms could become as powerful as
Cryptocurrency exchange Binance is behind an initiative to qualify university students in Kazakhstan to work in the industry. Under an agreement with the government, the blockchain course will be added to the curricula of higher education institutions across the country. Binance Exchange to Help Teach Blockchain at Kazakhstan’s Universities The world’s largest crypto exchange, Binance,