Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets are rising, the United States dollar index (DXY),
The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”. In a Jan. 23 announcement, NYDFS superintendent Adrienne Harris said crypto firms and exchanges operating under a BitLicense — required in New York state — should segregate
Vitalik Buterin, the co-founder of Ethereum, recognizes the privacy problem in the most active smart contracting platform. He is proposing a stealth address system as a possible fix. Vitalik Buterin’s idea radically differs from what Tornado Cash, a crypto mixer, and similar platforms offer. Instead of the sender having control, it would be the recipient in charge.
Ethereum developers have begun finalizing the Shanghai upgrade “shadow fork,” according to software engineer Marius van der Wijden. The “shadow fork” will serve as a testing environment for the Shanghai upgrade, allowing developers to identify bugs and any potential issues. Ethereum’s Shanghai Upgrade ‘Shadow Fork’ Launches As the cryptocurrency community awaits the upcoming Shanghai hard
Axie Infinity (AXS) has rallied 135% month-to-date to reach approximately $14 on Jan. 23, its highest level in two months. Nonetheless, the AXS/USD pair could suffer major losses in the coming weeks owing to a flurry of negative technical and fundamental indicators. Axie Infinity price prints “gravestone” doji The AXS price formed a “gravestone doji”
According to Glassnode on-chain data, Ethereum staking has reached an all-time high of over 16.16 million ETH which has been deposited into the beacon chain. The 16.16 million ETH figure consists of over 13.28% of the total Ether supply and represents $26.13 billion at current prices. As per the data, out of the 16 million
As Brazil and Argentina started preparatory work for a potential common currency, Coinbase CEO Brian Armstrong floated the idea of the two countries moving to Bitcoin (BTC). This sparked various discussions over the viability of BTC as a national currency. On Jan. 22, the two South American countries announced their preparations to discuss a plan
The good news of the last week is that Bitcoin (BTC) continued to rebound, making around 10% up from Jan.16 to Jan. 23. But it has yet to change a worrying trend of crypto companies making headlines due to their troubles with the law. The United States Department of Justice launched a “major international cryptocurrency
The Ethereum-Polygon ERC-20 bridge is the most active, data on January 23 reveals. Polygon-Ethereum Bridge Dominant As of January 23, there were $2.18 billion of assets locked in the Ethereum-Polygon ERC-20 Bridge, almost twice the value of assets locked between the Ethereum and Arbitrum bridge which, at the time of writing, stood at $1.36 billion. Another
The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade. Company Behind China’s Blockchain Push Aims to Make Stablecoins and State Coins Interoperable Hong Kong-based Red
Cardano stake pool operators (SPO) and users have been reporting at least half of the nodes for the network briefly went offline over the weekend. According to a Jan. 22 post shared on the Telegram SPO for Input Output Global, the engineering and research in fintech behind the Cardano blockchain, an anomaly caused 50% of
This week Bitcoin (BTC) rallied to a 2023 high at $23,100 and the move followed a notable recovery in traditional markets, especially the tech-heavy Nasdaq Composite Index, which gained 2.9% on Jan. 20. Economic data continues to boost investors’ hope that the United States Federal Reserve will reduce the pace and length of interest rate
Ethereum co-founder Vitalik Buterin has shared a possible solution to what he describes as the “largest remaining challenge” on Ethereum — privacy. In a blog post on Jan. 20, Buterin acknowledged the need to come up with a privacy solution because by default, all information that goes onto a “public blockchain” is public too. He
A former Securities and Exchange Commission (SEC) official has slammed “cryptocurrency lobbyists” for labeling SEC enforcement actions as “regulation by enforcement” — calling the term a “Bogus Big Crypto Catch Phrase.” John Reed Stark, a former chief of the Securities and Exchange Commission Office of Internet Enforcement and a crypto skeptic, opined in a Jan.
The U.S. Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission (CFTC), and the Department of Justice (DOJ) have charged an alleged attacker who stole $116 million from crypto trading platform Mango Markets. The defendant has been arrested and is currently detained in Puerto Rico. Mango Markets Manipulator Arrested, Detained The U.S. Securities and
After nearly a 20% rally last week, Bitcoin (BTC) is on track to end this week with gains of roughly 10%. Bitcoin’s rally has improved sentiment and attracted buying in several altcoins. This sent the total crypto market capitalization firmly above the $1 trillion mark. The strong recovery in Bitcoin has startled several analysts who
According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty of fraud. In a court document filed on Jan 20, U.S. federal prosecutor Damian Williams outlined that the “government respectfully gives notice that the
After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some insight into the large sums of cryptocurrency held in custody by
Central African Republic (CAR), a developing country in Central Africa, set up a 15-member committee responsible for drafting a bill on the use of cryptocurrencies and tokenization in the region. According to Faustin-Archange Touadéra, the president of CAR, cryptocurrencies can potentially help eradicate the country’s financial barriers. He believed in creating a business-friendly environment supported
A Kenyan fintech that digitizes credit unions, Kwara, is reported to have raised $3 million via a seed extension round that was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest round brings to $7 million the amount of capital that the fintech has now raised via this funding round. Kwara’s Client Base Kwara,