Stablecoins Like Tether Are 'Confusing,' Says European Central Bank
The European Central Bank said today that the term “stablecoin” can be “confusing, even misleading.” That’s because there are different types of stablecoins, said the bank, which use different stability methods to maintain their price. What’s more, these...
Police Seize Millions in Crypto, Cash and Drugs in Darknet Bust
The US Department of Justice announced the results of a darknet market bust. So far, law enforcement have arrested 179 people and seized $6.5 million in crypto and cash, 500 kilograms of drugs and 63 firearms. In Operation DisrupTor (a play on words; Tor is a...
Supply of Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here’s Why
The supply of BitGo’s wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 WBTC minted within one week. Here’s why. Source: coindesk
Here’s Why a Meme Coin Soared During a Market Sell-Off
It was a sea of red in the market yesterday. But while Ether slid by almost 10% and all DeFi tokens plunged even deeper, one project astonished the crypto world accelerating the 10x increase it had seen in the last seven days: $MEME A ticker most would pass off as a...
Cameron Winklevoss: ‘DeFi Is Not the Same as the 2017 ICO Craze’
You don’t have to be around the cryptocurrency space long to know that DeFi is all the rage. And despite its reputation as the Wild West of crypto, bitcoin billionaire Cameron Winklevoss is coming to DeFi’s defense. Decentralized finance, or DeFi as it’s known, is a...
Crooked police chief sentenced to 8 years for dark web shenanigans
The charges are reminiscent of events that took place during the "Silk Road" saga. Former police chief Yuri Zaitsev was recently sentenced to eight years in prison for acting as a bounty hunter for a dark web marketplace. In December 2018, Zaitsev was working as the...
SEC v. Telegram: Part 2 — The case against integrating the two prongs of a SAFT
Addressing the legitimacy of collapsing the sale of contractual rights with the eventual release of crypto assets. As discussed in the previous article, Telegram is a popular global instant messaging company. In 2018, it sold contractual rights to acquire a new crypto...
The Currency Cold War: Four Scenarios
Stablecoins. Bitcoin. Libra. China's DCEP. Digital $. By 2030, there could be dozens of competing currencies. How will the money wars play out? Source: coindesk
Bitcoin Traders Say Options Market Understates Likelihood of Chaotic US Election
Analysts warn against reading too much into the complacency suggested by the volatility metrics. Source: coindesk
Bloomberg Intelligence Analyst Calls Bitcoin a Standout Asset
Mike McGlone, senior commodity strategist at Bloomberg, examined Bitcoin’s potential upside on Twitter today. He described Bitcoin as a standout fixed-supply asset that is set to be a primary beneficiary of equity and bond prices. McGlone has previously spoken about...
Execs Managing $78B in Assets Say Institutional Investors Plan to Allocate More Cryptocurrencies
New research from the digital currency insurance firm, Evertas, shows that a surveyed group of investors managing roughly $78 billion in collective assets believes that during the next five years, institutional investors will “dramatically” increase their crypto asset...
S. Korea’s Major Crypto Exchange Bithumb Up for Sale Again, Report
The owners of Bithumb are reportedly looking to sell the cryptocurrency exchange once again. The asking price is believed to be at least 500 billion won (around $430 million). Bithumb was last up for sale in 2018. However, the interested buyer at the time cancelled...
Institutional investors plan to buy every Bitcoin price dip, data suggests
New survey data shows institutional investors intend to increase their Bitcoin allocations regardless of short term dips in BTC price. A new survey commissioned by crypto asset insurance company, Evertas, a cryptocurrency insurance firm, found that institutional...
Bitcoin price hits $11,100 wall and drops 6% — Relief rally to follow?
The price of Bitcoin rejected the $11,100 resistance level with a steep 6% drop. Analysts tell Cointelegraph what will likely happen next. The price of Bitcoin (BTC) brutally rejected the $11,100–$11,300 resistance range with a 6% drop. Following the steep pullback,...
Crypto.com reverses ‘illegitimate trades’ amid prolonged downtime for the exchange
Some customers appear to have exploited the exchange’s database issues for person gain. A database issue has led to prolonged downtime for the Crypto.com exchange. According to a series of tweets published by platform’s CEO, Kris Marszalek, the exact cause of these...
Blockchain Bites: OCC’s Stablecoin Guidance, EU’s Digital Euro Plans, Chamath’s Bitcoin
The OCC published guidance allowing U.S. banks to work with stablecoin issuers. Meanwhile, the ECB thinks the term stablecoin can be "misleading." Source: coindesk
Tron Decreases By More Than 50% — Will It Rebound?
The TRON (TRX) price has lost 54% of its value since it reached a high on Sept. 3. However, the price is approaching an important support level which could initiate a bounce. Return To Support The TRX price has been decreasing since it reached a high of $0.049 on...
Meet Turkey’s ‘unexpected winners’ of Uniswap’s UNI giveaway
Uniswap’s UNI token distribution paid nearly half of the tuition for students who attended one “Crypto 101” course. Students enrolled in the class “Introduction to Cryptocurrencies” at Turkey’s Kadir Has University were the unexpected winners of Uniswap’s UNI token...
Startup Behind Siacoin Storage Platform Raises $3M, Rebrands as Skynet Labs
Skynet Labs has raised a $3 million funding round led by Paradigm, aiming to offer developers decentralized storage solutions for all types of applications. Source: coindesk
Bitcoin News Roundup for Sept. 22, 2020
With bitcoin at risk of falling to four figures and new guidance from the OCC, CoinDesk’s Markets Daily is back for your latest crypto news roundup! Source: coindesk
Bitfinex Adds Support for Bigger Lightning Payment Channels
Crypto exchange Bitfinex has launched support for “wider” Bitcoin (BTC) Lightning Network (Lightning) payment channels, dubbed Wumbo, that bypass the hardcoded capacity limitation of standard ones, according to an announcement today. At launch, Bitfinex has opened...
Nasdaq and SEC-Registered Fund Manager to Launch First-Ever Crypto ETF
The new ETF product will track an index currently being designed by Nasdaq that will provide broad exposure to the digital asset market. Source: coindesk
Facebook’s Libra Co-Founder Morgan Beller Departs to Return to VC
Beller, 27, will become a general partner at NFX. She'd worked at a16z before joining Facebook. Source: coindesk
The great unbanking: How DeFi is completing the job Bitcoin started
While most of us will prefer to forget the horrors of 2020, DeFi may well prove to be the guarantee of a better, more liberated future. In a broad sense, 2020 has been the year of the COVID-19 pandemic. As it charges toward 1 million deaths and over 30 million...
NFT Sales Heat Up as Rarible Marketplace Passes $5M in Volume
While decentralized finance (DeFi) has grabbed most of the recent headlines, the non-fungible token (NFT) market has quietly picked up steam over the summer. According to a Sept. 16 report from crypto asset data website Messari, Rarible, an NFT marketplace, has...
IoT Startup Helium Floats New Hardware Device for Mining Its HNT Crypto Tokens
Helium is hoping a new manufacturing deal with RAK Wireless will help the crypto-powered IoT network expand its reach. Source: coindesk
Litecoin Transactions Skyrocket as LiteBringer Game Takes Off
After rapidly growing for the past few days, the number of daily transactions on the Litecoin (LTC) blockchain has reached over 130,000 today—and all thanks to LiteBringer, a decentralized, fantasy game that officially launched on September 15. Transactions are...
US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator
The U.S. Office of the Comptroller of the Currency (OCC) on Monday published a letter clarifying that national banks and federal savings associations can now hold reserves for stablecoin issuers in the country. According to the OCC’s interpretive letter, reserve...
US Government Darknet Raid Seizes $6.5M in Cash and Cryptocurrencies
The U.S. government has today announced the results of one of the biggest ever seizures of drugs sold on the dark web. Source: coindesk
Equilibrium receives Web3 grant to develop its universal DeFi module
Web3 Foundation has an established history of offering grants of up to $100,000 for groundbreaking technologies. Decentralized finance startup Equilibrium has received a grant of $27,000 from the Web3 Foundation to develop its DeFi pallet and provide tools which...
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