The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations and harmonized rules at the EU level. MiCA may ultimately stifle innovation, impose a one-size-fits-all approach to regulation
The market cap of new memecoin Pepe (PEPE) has fallen $1.1 billion from its May 6 peak, though on-chain data shows it’s still being bought by some crypto whales. Over the last five days, the price of the memecoin has plummeted more than 56% falling from a peak of $0.00000431 to $0.00000193, according to CoinGecko.
The United States consumer price index rose 4.9% annually, which was slightly less than estimates of a 5% increase. The CPI’s monthly rise of 0.4% in April was in line with expectations. Although inflation remains stubbornly higher than the Federal Reserve’s 2% target range, traders will take comfort from the slower pace of increase. That
After a brief overshoot above $2,000 on May 6, the Ether price has returned to a tight range between $1,820 and $1,950, which has been the norm for the past three weeks. According to the latest Ether (ETH) futures and options data, odds favor the Ether price breaking below the $1,820 support, as professional traders have
In a recent court submission, legal representatives for basketball icon Shaquille O’Neal, commonly referred to as Shaq, claim he was not duly served in the FTX class-action lawsuit. As per the document, servers allegedly hurled the court documents at Shaq’s car, ultimately landing on the public street near his Georgia residence. Shaq’s Legal Team Fights
In today’s The Market Report episode, analyst and writer Marcel Pechman discusses why crypto prices are going down after Bitcoin (BTC) failed to break above $29,000, plus whether or not Jerome Powell is lying about keeping interest rates above 5%, and lastly, what Warren Buffett meant by the “incredible period” coming to an end. The
Ethereum layer-2 blockchain Arbitrum will distribute ETH (ETH) tokens worth nearly $6.2 million to its decentralized autonomous organization (DAO), the project announced May 9 on Twitter. ARB holders must claim the rewards. The funds to be collected are base fees and surplus revenue generated from network transactions. According to Arbitrum’s tweet, a total of 3,352 ETH will
Will Clemente III has 680,200 followers on Twitter thanks to his viral crypto analysis content. He co-founded blockchain research firm Reflexivity Research with Anthony “Pomp” Pompliano while still a teenager. Who is this guy anyway? Will Clemente III is still only 21 years old, but his keen insights into the industry mean he’s followed by
Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms. Crypto Hub Hong Kong Has No Intentions to Adopt ‘Light-Touch’ Regulations Hong
Warren Buffett moving into cash suggests that he’s bracing for a possible collapse in risk-on asset prices. With Bitcoin (BTC) up 70% year-to-date and correlated with equities, should BTC investors also prepare for a potential stock market crash? Buffett says “incredible period” is over Warren Buffett’s Berkshire Hathaway dumped $13.30 billion worth of equities and
Bitcoin (BTC) tracked $27,500 on May 10 as markets geared up for what should be a positive United States inflation print. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI set for months of decline Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered in a narrow trading range ahead of the April
United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist. Cutting such loopholes would save about $18 billion, according to Biden. However, the president
Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization. The Aragon Association, a Switzerland-based organization that oversees the management of Aragon said in a May 9 tweet it exercised its “fiduciary
The top Democrat on the House Intelligence Committee has warned that China and Russia would seek to exploit the chaos resulting from a U.S. default. He further cautioned that the U.S. dollar’s reserve currency status could be eroded if the U.S. defaults on its debt obligations. U.S. Lawmaker’s Debt Default Warning Congressman Jim Himes (D-CT),
Three new crypto-focused exchange-traded funds (ETFs) have been put forward for approval by cryptocurrency asset manager Grayscale Investments, which also announced a new entity to manage its growing funds. On May 9, Grayscale said it launched a new arm of its business — the Grayscale Funds Trust — allowing it to manage many of its
Lawyers for NBA star Shaquille O’Neal, who previously endorsed the now-bankrupt crypto exchange FTX, have claimed two process servers inadequately delivered legal documents after previously failed attempts. In a May 8 filing for United States District Court in the Southern District of Florida, Shaq’s legal team said following “a failed motion to serve” the NBA