Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 analysis, Matrixport’s Markus Thielen suggested that BUSD issuer Paxos Trust Company may not have been stringent enough with its oversight of the token. He added that
Month: February 2023
India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation of crypto assets” during her recent meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
The ill-gotten crypto from one of the industry’s largest exploits is on the move again, with on-chain data showing another $46 million of stolen funds has just shifted from the hacker’s wallet. The Wormhole attack was the third-largest crypto hack in 2022, resulting from an exploit of Wormhole’s token bridge in February 2022. Around $321 million
Australia-based Bitcoin (BTC) mining company Iris Energy has revealed it will nearly triple its mining capacity with the addition of thousands of mining rigs. On Feb. 13 the firm said it purchased an additional 4.4 exahashes per second (EH/s) worth of Bitmain Antminer S19j Pro ASIC miners, bringing its self-mining capacity to 5.5 EH/s from
Paxos Trust Company says it “categorically disagrees” with the United States securities regulator that has describedBinance USD (BUSD) as a security. In the Feb. 13 statement, the BUSD issuer confirmed recent reports that it had received a Wells notice from the United States Securities and Exchange Commission over BUSD and its alleged failure to register
Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following
In January, ApeCoin (APE) had an underwhelming performance compared to metaverse-based tokens like Decentraland (MANA) and The Sandbox (SAND). APE token gained 61% compared to the 90% and 150% respective gains seen in SAND and MANA. The subdued gains can be attributed to the hefty APE staking rewards that is likely creating some selling pressure.
Bitcoin (BTC) drifted toward major liquidity around the Feb. 13 Wall Street open as the dust settled on United States regulatory news. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC traders spread bids lower Data from Cointelegraph Markets Pro and TradingView showed BTC/USD $21,476 on Bitstamp, almost matching the weekend’s three-week lows. As analysts expected
Ethereum co-founder Vitalik Buterin has now made at least two substantial contributions to help the victims of last week’s devastating earthquake in Turkey and Syria. The 7.8 magnitude earthquake struck on Feb. 6. Its death toll has now risen to 33,000 — one of the world’s worst in decades. Over the week, the Ethereum co-founder
2023 is off to a great start, with Bitcoin (BTC) rocketing up 40% in January. The good news is not relegated to just Bitcoin, however, as this price increase has sent ripple effects across the cryptoverse. Mining revenue jumped $22.66 million in January, and crypto-related stocks doubled on average. Despite this good news, venture capital
The New York Department of Financial Services (NYDFS) has ordered blockchain company Paxos Trust to stop the issuance of dollar-pegged Binance USD (BUSD) stablecoin. The New York regulator’s actions come shortly after the United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos — a letter the regulator uses to tell companies of planned enforcement
The European Parliament has released a report on a draft bill proposing that banks holding cryptocurrencies set aside a large amount of capital in an effort to address potential risk. In a Feb. 9 notice, European Union lawmakers said any framework applied to crypto assets should “adequately mitigate the risks of these instruments for the
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD and it was ending its
A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance, according to the head of business development at Lido DAO. Jacob Blish — who leads business development at Lido’s decentralized autonomous organization — told Bloomberg in a Feb. 13 report that the most significant risk would be if the SEC
Bitcoin (BTC) starts a new week just under $22,000 as bulls fail to reclaim lost ground in February. After some modest volatility towards the weekly close, BTC/USD is still near three-week lows as a new status quo enters with $22,000 as resistance. The largest cryptocurrency stands at the beginning of an important week of macroeconomic
The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program. In a recent announcement, the CBUAE introduced the FIT program and highlighted its aim to support the country’s financial
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