Japan’s self-regulation “experiment” for the crypto industry is reportedly not working as well as intended, according to local government and industry experts. Since 2018, the Japan Virtual Currency Exchange Association (JVCEA), a self-regulation entity, has been tasked with creating guidelines for the country’s crypto industry, with arguments at the time that the entity could be
Month: July 2022
ApeCoin (APE) rallied to start the week as traders considered Yuga Labs’ decision to open its Otherside metaverse for selected users. In doing so, the token broke out of a technical pattern that hints at another 45% price rally by September 2022. Otherside metaverse euphoria APE’s price surged by almost 23.5% week-to-date to reach $6.12
Crypto fans are rejoicing at the sight of green across the market on July 19 as the months of “down only” price action has finally come to an end after the market flashed its first substantial relief rally in at least a month. Data from Cointelegraph Markets Pro and TradingView shows that much of the
It is no secret that a vast majority of investors, both from the realm of traditional as well as crypto finance, view Bitcoin (BTC) as a long-term store of value akin to “digital gold.” And, while that may be the dominant narrative surrounding the asset, it is worth noting that in recent years the flagship
Bitcoin (BTC) hugged $22,000 on July 19 as macro conditions slowly turned to favor risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Stocks, crypto rise as dollar weakens Data from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling volatility immediately below the crucial 200-week moving average (WMA). The Wall Street open saw further gains for
Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of the country’s approach to crypto regulation. In a speech on the MAS Annual Report on Tuesday, Menon said crypto-related companies including TerraForm
The bitcoin mining operation Marathon has announced the company has secured 254 megawatts of new hosting deals with the option to increase to 324 megawatts (MW). Marathon’s latest expansion deals should support the bitcoin mining firm’s intended goal of securing approximately 23.3 exahash per second (EH/s). Marathon Secures 254 MW of Bitcoin Mining Capacity —
“Bitcoin is for billions, not billionaires,” a phrase first coined by investment researcher Lyn Alden, could soon become a reality, according to Fedimint. The protocol that aims to scale Bitcoin (BTC) while making it more private has been buoyed by a $4.2 million seed round for the Fedi application. Cointelegraph spoke to Obi Nwosu, co-founder
Crypto staking service provider Lido Finance has announced plans to expand staked Ether (stETH) support across the ecosystem of Ethereum layer-2 (L2) networks. In a Monday blog post, the Lido team noted that it would initially begin by supporting Ether (ETH) staking via bridges to L2s using wrapped stETH (wstETH). Moving forward, it will eventually enable
The liquidators of failed crypto hedge fund Three Arrows Capital (3AC) have filed an application in the High Court of Singapore for a stay on claims against 3AC and access to the company’s Singapore headquarters. The liquidators said in the 1,157-page document that a court decision is needed in light of the number of legal
Aave (AAVE), an open source decentralized finance (DeFi) protocol, is teaming up with decentralized Web3 infrastructure provider Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol. According to the statement on Tuesday, Aave will use Pocket’s distributed network of more than 44,000 nodes to access
A new contributor to the Bitcoin (BTC) energy debate says that 1 BTC would have to cost $20 million to use 100 times its current energy demands. In a Twitter debate on July 18, Sjors Provoost, a Bitcoin developer and author of “Bitcoin: A Work in Progress,” cast doubt on the largest cryptocurrency’s future energy
Reducing your initial debt of $820 million to just $0.013 over a month can’t be easy. And, it’s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending platform voluntarily filed petitions for Chapter 11 reorganization after closing off the last of its decentralized finance (DeFi) debts owed
Bye bye Monday blues, hello bullish news – the total crypto market capitalization has retaken the $1 trillion level. The crypto market cap is now almost as valuable as all the silver on the planet. A price pump for Bitcoin (BTC) brought the world’s most decentralized cryptocurrency into the $22,500 range, while Ethereum (ETH) enjoyed
The Federal Bureau of Investigation (FBI) has issued a public warning about fraudulent cryptocurrency apps, which have swindled U.S. investors out of an estimated $42.7 million so far. According to an advisory published on July 18 by the securities and intelligence agency, cybercriminals have created apps using the same logos and identifying information as legitimate
U.S. Senator Elizabeth Warren says that “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money.” She stressed the need for stronger rules, urging the Securities and Exchange Commission (SEC) and Congress to take action on crypto regulation. U.S. Senator Says
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