Amid ongoing investigations around the defunct crypto exchange FTX, the Commodity Futures Trading Commission (CFTC) questions the due diligence conducted by institutional investors and their accountability regarding the loss of users’ funds. CFTC Commissioner Christy Goldsmith Romero stated that VCs that had to write down their investments in millions of dollars to nearly zero raises
Month: January 2023
Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements
JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank
Token Unlock, a platform that uses on-chain data to track vested tokens and inform users of upcoming unlock events, issued a 2022 annual report today showing the highest estimated locked value tokens per the current market price. The report shows 15 tokens (such as XRP, Filecoin, Optimism, Chainlink, BitDao, ApeCoin, STEPN, Hedera, Axie Infinity, dYdX,
Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs. As the crypto market turned bearish and liquidity seized within the sector, miners found themselves
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Following FTX’s demise, the DeFi space is up for a complete remodel as crypto users demand better security and compliance practices. SushiSwap’s roadmap for the coming year includes the
The Stellar Development Foundation (SDF) has become the newest member of the United States Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), the blockchain announced on its blog. The committee is preparing to meet on Feb. 13 for the first time in over a year. SDF supports the Stellar blockchain, which is used
The United States equities markets are on track to finish the week in the red but that has not resulted in a deeper loss for Bitcoin (BTC). The news of cryptocurrency lender Genesis filing for Chapter 11 bankruptcy also did not have any meaningful impact on Bitcoin’s price. This shows that the selling pressure could
Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday’s move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point. Cosmos (ATOM) Cosmos (ATOM), was one of Friday’s notable gainers,
Summary: The Ethereum Name Service governance proposal aims to create an extra runway for the project should the crypto market suffer another downturn. 10,000 ETH would be sold for Circle’s USDC via a Gnosis auction, Wednesday’s proposal suggested. ENS DAO held around $2.4 million in stablecoin and some 40,000 Ether in its treasury at press
The humble university dorm is a place for students taking their undergraduate degrees to study, rest, make new friends, host wild dorm parties and, of course, mine Bitcoin (BTC). A master’s student in market research and self-described “data guy,” Blake Kaufman, has hooked up an S9 Bitcoin miner to the Bitcoin network. He won the
This week NFT Steez met with Cryptoys founder Will Weinraub to discuss the current role of play and toys in regard to their integration with nonfungible tokens (NFTs) and Web3 as a whole. Weinraub believes that the act of play is “not restricted to children” and believes that as adults, “we still crave the element of
Genesis Global Trading, a prominent crypto lender, filed for Chapter 11 bankruptcy protection in New York on Jan. 20, becoming the latest company to declare bankruptcy in the wake of FTX’s collapse. However, the focus of the crypto community has shifted toward other firms that had exposure to the lending firm. One report suggested that
Binance has unveiled intentions to broaden its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent and launch educational initiatives. Crypto Exchange Binance Moves Forward With Plans to Expand Operations in Poland Binance, the world’s largest digital
Bitcoin (BTC) may gain another 50% before seeing a mass sell-off to complete its bear market, new research predicts. In the latest edition of its regular markets newsletter, “The Crypto Circular,” trading firm QCP Capital delivered a grim warning to those who believe that crypto winter is over. Research warns of “final Wave 5 sell-off”
Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report. Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.” OKX claims to maintain 1:1 reserves, which would mean means the
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