Bitcoin (BTC) has been trading near the $29,000 level for the past few days. This suggests a lack of strong demand at higher levels but the only solace for the bulls is that they have managed to sustain the price above the immediate support. The uncertainty about the next directional move may have tempted short-term
Less than 16 hours have passed since the launch of PayPal’s new stablecoin (PYUSD), and opportunists, degens and potential scammers are already attempting to cash in on the hype with their own copycat tokens. According to data from decentralized exchange scanner DexScreener, nearly 30 new token pairs sporting the ticker “PYUSD” have cropped up in
Stuart Alderoty, Ripple Labs’s Chief Legal Officer, took to Twitter to voice concerns over potential conflicts of interest involving former SEC official, Bill Hinman. Alderoty tweeted, “Crypto critic/x-SEC official John Reed Stark says there should be an investigation into Bill Hinman. This is broader than Ripple – there could potentially be serious conflicts of interest
Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese man’s $10M loss as court says Bitcoin lending not protected by law A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to
Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community. While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community. The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued
Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank — the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) from MAS on Aug. 1 allowing it to provide what the regulator calls digital payment token services to institutional and accredited investors. The exchange’s
MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol. At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an error: “Accessing this website
Warren Buffett and Bill Ackman are two of the most successful investors in the world, but they have taken opposing views on the bond market in recent months. Only one can be right. Billionaire investor Bill Ackman says he is shorting US Treasuries. if long-term inflation is 3% not 2%, the 30y Treasury yield could
Decentralized asset management platform Valio has launched publicly, according to an announcement from the platform’s team. The new protocol allows users to have their funds managed by professional traders but without having to trust these traders as custodians. The app’s launch is initially taking place on the Abitrum and Optimism networks. Valio previously launched in
The Securities and Futures Commission (SFC) of Hong Kong issued a notice about unlicensed virtual asset trading platforms “engaging in improper practices”, warning of potential criminal charges. In an Aug. 7 notice, the SFC said certain trading firms had falsely claimed to have submitted applications for licenses in Hong Kong. The securities regulator said should
Bitcoin (BTC) starts the second week of August with barely a sound as rangebound BTC price behavior continues. After one of its least volatile weekly closes, BTC/USD remains stuck at $29,000 — but can the coming seven days provide what is needed to break the deadlock? Headlining the list of potential volatility catalysts is United
CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC). The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL)
Bad news for Ripple and XRP? The U.S crypto regulation landscape, already mired in uncertainty, has been thrown into further turmoil yesterday following diverging judicial opinions about the classification of cryptocurrencies as securities. However, Ripple Labs’ Chief Legal Officer (CLO) Stuart Alderoty has held firm, insisting that a recent controversial ruling against Terraform Labs has
Blockstream CEO Adam Back, one of the crypto’s early pioneers, is pretty confident Bitcoin will hit an all-time high of over $100,000 before Bitcoin’s halving in 2024 — and is willing to drop a million wagering on it. In an Aug. 7 conversation on X (formerly known as Twitter), Back agreed to a bet with
Bitcoin (BTC) continued its boring price action over the weekend, indicating that the bulls and the bears are not waging large bets as they are uncertain about the next directional move. Nevertheless, traders should continue to keep a close watch because a period of consolidation is usually followed by an increase in volatility. Although it
The developers at Tether are in the process of preparing the release of innovative JavaScript libraries. These libraries are specifically created to facilitate the transmission of commands and signals to Bitcoin (BTC) mining hardware, encompassing popular devices like WhatsMiner, AvalonMiner and Antminer. As per a post shared on August 5 by Paolo Ardoino, the chief
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