Prominent crypto exchange Coinbase has emerged as the second largest ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network centralization in regard to Lido’s dominance in the ETH staking market. Coinbase Accounts For 14.1% Of ETH Staking Activity – Report According to Wu, a
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Bitcoin (BTC) kept up renewed pressure on $28,000 into the Oct. 8 weekly close as geopolitical uncertainty entered traders’ radar. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin behavior at resistance “not the best” Data from Cointelegraph Markets Pro and TradingView showed BTC price performance avoiding downside volatility over the weekend. The pair recovered from a
The RippleX team, Ripple Labs’ development arm, yesterday shed light on a new feature proposal, the “Clawback” for the XRP Ledger (XRPL). As the crypto space awaits the potential inclusion of this feature in the rippled 1.12.0 release, the blockchain community has set its eyes on how this addition might reshape asset controls on the
Lawmakers in Taiwan are reportedly aiming to push out a first draft of a special law by the end of November 2023, according to a report from the Block. Yung-Chang Chiang, an official in the Legislative Yuan of Taiwan, said in an interview that he intends for the first draft to be available for reading
Top Stories This Week Opening arguments begin in Sam Bankman-Fried trial The trial of former FTX CEO Sam “SBF” Bankman-Fried kicked off on Oct. 4 in New York after jury selection began the previous day. Assistant United States Attorney Thane Rehn told jurors that SBF used FTX customer funds to enrich himself and gain credibility
The price of Ethereum’s native token, Ether (ETH), has gained around 35% so far in 2023. But its attempts to break above $2,000, a psychological resistance level, have witnessed strong bearish rejections multiple times. ETH/USD daily price chart. Source: TradingView Let’s take a closer looks at the three likely reasons why Ethereum price has failed
As Hong Kong progresses with the adoption of cryptocurrency trading for individual investors, a local official stressed that retail stablecoin trading is not yet allowed. Hong Kong has not adopted regulations for stablecoins like Tether (USDT) or USD Coin (USDC), which means retail investors are not allowed to trade those assets, according to Hong Kong’s
The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to the demise of several banks
The United States Securities and Exchange Commission (SEC) has been dealt another setback in its ongoing legal battle against Ripple Labs. District Court Judge Analisa Torres has dismissed the SEC’s interlocutory appeal motion. On October 3, Judge Torres based her decision on the regulator’s failure to convincingly demonstrate “controlling questions of law” and “substantial grounds
Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States. Binance’s spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCData According to the report, Binance’s spot market share dropped
On Friday, Oct. 6, two senior Republican members of the United States House of Representatives urged the Biden administration to strengthen the enforcement of export controls on advanced semiconductors to China. In a letter addressed to National Security Adviser Jake Sullivan, Representative Michael McCaul, chairman of the House Foreign Affairs Committee, and Representative Mike Gallagher, chairman of
Komainu, a cryptocurrency custody firm co-created by crypto investment firm CoinShares, hardware wallet company Ledger and Japanese Nomura, has secured major regulatory approval in the United Kingdom. The company announced on Oct. 6 that it has received approval from the U.K. Financial Conduct Authority (FCA) to register as a custodian wallet provider under the Money
Officials at the United States Commodity Futures Trading Commission (CFTC) were reportedly considering an enforcement action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. According to an Oct. 6 Bloomberg report, CFTC staff were considering taking action against Ehrlich following an investigation concluding the former CEO violated U.S. derivatives regulations prior
In a recent interview, Paul Zalai, Director of the Australian Freight & Trade Alliance (FTA), hinted at a potential collaboration with Ripple, the San Francisco-based fintech firm known for its blockchain-based payment solutions. FTA Director Teases Ripple Partnership Speaking with La Chang of YouTube channel TGL (Think Global Logistics), Zalai revealed that he doesn’t understand
The rise of Ethereum staking since major network upgrades, Merge and Shanghai, has come at the cost of higher centralization and lower staking yields, a new report by JPMorgan said. JPMorgan’s analysts led by senior managing director Nikolaos Panigirtzoglou issued a new investor note on Oct. 5, warning about the risks stemming from Ethereum’s growing
Ethereum (ETH), a forerunner in the decentralized finance (DeFi) ecosystem, has seen a notable surge in its staking activities. This staking boom has raised eyebrows among experts from JPMorgan concerned over ETH’s increase in centralization and the consequences that may arise. Ethereum, aiming to transition to a proof-of-stake consensus mechanism, opened the floodgates for staking.
Bitcoin (BTC) saw a snap retest of $27,000 around the Oct. 6 Wall Street open as wildcard United States employment data rattled markets. BTC/USD 1-hour chart. Source: TradingView Analysis: Jobs data “not what Fed wanted to see” Data from Cointelegraph Markets Pro and TradingView followed BTC price action as the largest cryptocurrency lost 2.1% in
Solana (SOL) price experienced a 20% gain between Sept. 28 and Oct. 6, but is the rally a tandem move with Bitcoin (BTC) price or is it being driven by other factors. Prior to the price breakout, or perhaps, it’s recovery, SOL faced a turbulent period after a U.S. court approved the sale of $1.3
Gary Wang, FTX’s co-founder and former chief technology officer, again appeared in court on the fourth day of the criminal trial of former CEO Sam “SBF” Bankman-Fried to speak on the connections between the crypto exchange and Alameda Research. According to reports from Inner City Press, Wang returned to a New York courtroom on Oct.
Our weekly roundup of news from East Asia curates the industry’s most important developments. 3AC creditors strike back On Sept. 29, Su Zhu, co-founder of defunct Singaporean hedge fund Three Arrows Capital (3AC) — which prior to its collapse last June managed more than $10 billion in digital assets — was apprehended at Singapore’s Changi
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