The pro-crypto regulatory framework proposed by U.S. Senators Cynthia Lummis and Kirsten Gillibrand is unlikely to see the light of day this year. Wyoming Senator Cynthia Lummis said on July 19 that the U.S. Senate is unlikely to vote on the bill this year. “It’s a big topic, it’s comprehensive, and it’s still new to...Read More
The Central Bank of Ireland granted regulatory approval to the cryptocurrency exchange Gemini to offer digital asset services in the local market. Moreover, the company became the first to be registered as a Virtual Asset Service Provider (VASP) in the country. The trading venue run by billionaire twins Cameron and Tyler Winklevoss keeps expanding its...Read More
The Miami-based blockchain security company – Halborn – closed a $90 million Series A financing round. The initiative comes at a time when numerous venture capital firms have withdrawn their interest in the crypto sector due to the downturn of the market. Pushing Forward Amidst the Crypto Winter In an interview for Bloomberg, Halborn disclosed...Read More
According to Tesla’s Q2 2022 earnings report released on Tuesday, the car manufacturer has sold almost all of its Bitcoin into fiat currency. The selloff netted the company an additional $936 million in cash for its balance sheet. As reads the report, Tesla “converted approximately 75% of [its] Bitcoin purchases into fiat currency,” as of...Read More
Coinbase – the most popular crypto exchange in the US – says it held no exposure to now bankrupt crypto lending firms including Celsius, Voyager, and Three Arrows Capital. The company also detailed how it manages risk differently compared to these firms, arguing that its unlikely to mimic any similar liquidity crises. What Coinbase Does...Read More
The United Nations (UN) advised the governments of Kenya and other developing nations to impose comprehensive regulations on their cryptocurrency sectors. Calling for a Clampdown The global organization that maintains international peace and security – the United Nations – seems to have the cryptocurrency industry in its sight. In a recent policy brief, it urged...Read More
The Thailand-based cryptocurrency platform – Zipmex – froze clients’ withdrawals citing volatile market conditions. It remains unknown when the company will restore the service. The latest firm in the cryptocurrency field to reveal issues on its platform is the Thai exchange Zipmex. In a recent tweet, it disclosed that users are not allowed to make...Read More
The leading cryptocurrency exchange – FTX – and its American affiliate – FTX US – are reportedly looking to secure additional funding. T At the beginning of the year, the trading venue, spearheaded by Sam Bankman-Fried, closed a $400 million fundraiser, which boosted its valuation to a whopping $32 billion. The financing was led by...Read More
As Bitcoin spiked through the resistant level of $23,000 after dipping below $19,000 recently, many expected that the breakout signaled a short-term relief rally. Glassnode’s weekly report predicts that the primary cryptocurrency is forming a “genuine bottom” as its current realized value is around $22,000. In the meantime, on-chain data has shown that the unrealized...Read More
Terra Classic (LUNC) Price Analysis Terra Classic after a long time has displayed a significant bullish divergence while the bears attempt very hard to restrict the price lower. Despite the market sentiments thriving, no growth in the volume is recorded in recent times. Therefore, this is compelling the price to remain consolidated within the narrow...Read More
Tl;dr: In recent weeks, some firms have struggled to remain solvent due to insufficient risk controls. See how Coinbase implements secure and comprehensive risk management practices that enable institutions to successfully navigate the cryptoeconomy. By Brett Tejpaul, Head of Coinbase Institutional, Matt Boyd, Head of Prime Finance, and Caroline Tarnok, Head of Credit and Market...Read More
BNP Paribas – a French international banking group – reportedly partnered with Metaco to start providing cryptocurrency custody services to its clients. According to a recent coverage, one of the leading banks in Europe – BNP Paribas – entered the digital asset universe by joining forces with the Swiss-based crypto custody provider – Metaco –...Read More
Leading Ethereum scaling network Polygon has launched its Zero-Knowledge Ethereum Virtual Machine (Polygon zkEVM), a new Ethereum-equivalent scaling solution based on Zero Knowledge (ZK) proofs. Polygon Launches New Scaling Solution The ZK proofs technology batches transactions in groups before communicating the information to the Ethereum blockchain as a single transaction request. The gas fee for...Read More
Edward Dowd – former Managing Director at BlackRock – thinks that bitcoin will be a much more stable asset once the bear market is over. He described it as “the Amazon of the crypto era,” predicting it will hold a spot in everyone’s portfolio in the future. The Crypto Winter Will Not Defeat Bitcoin The...Read More
This article is part of our new series of crypto research content, produced by the Bitcoin Magazine team and sponsored by BitMEX. To learn more about our wide-ranging partnership with Bitcoin Magazine, click here. Bitcoin Squeezed Past $23,000 Short squeezes unfold across crypto markets. In yesterday’s piece, we highlighted how the bitcoin (and more broadly,...Read More
The US Justice Department has seized roughly $500,000 in digital payments and cryptocurrency from ransomware attacks launched by North Korean hackers. Deputy Attorney General Lisa Monaco said that US authorities have begun returning funds to relevant victims. The North Korean hackers attacked health care organizations in Kansas and Colorado last year by encrypting their computer...Read More
On July 19, India’s Finance Minister Nirmala Sitharaman said in a speech at the Lok Sabha, the lower house of India’s bicameral Parliament, that crypto is a danger to international regulatory arbitrage and that they should be blocked or banned. Sitharam explained that any attempt to regulate or ban crypto should be global because cryptocurrencies...Read More
