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27 декабря 2023 18:48

💰 MicroStrategy Ends 2023 with a Bang: $615.7 Million Bitcoin Splash! 🌐🎉

MicroStrategy, the trendsetter in corporate crypto maneuvers, is closing the year with a blockbuster move! 📈✨ The business intelligence giant has clinched an impressive haul of 14,620 Bitcoins, making a splashy investment of around $615.7 million at an average Bitcoin price of $42,110. 💼🚀

🔥 Crypto Power Move: MicroStrategy, under the leadership of Michael Saylor, once again proves its mettle in the crypto space, making bold moves that redefine corporate engagement with digital assets.

💎 Crypto Fortune: As of December 26, 2023, MicroStrategy proudly holds a whopping 189,150 Bitcoins, valued at approximately $5.9 billion. The average purchase price per Bitcoin? A cool $31,168.

🌟 Strategic Brilliance: This isn't just another Bitcoin purchase; it's a strategic play that reinforces MicroStrategy's commitment to Bitcoin as a core element of its long-term treasury reserve.

Source

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26 декабря 2023 17:59

📢 Major Shake-Up at Grayscale as Barry Silbert Steps Down! Mark Shifke Takes the Helm! 🚀🎉

In a surprising turn of events, Barry Silbert, the chairman of Grayscale Investments, has officially resigned from his position. Grayscale, known for its groundbreaking application to convert its Bitcoin Trust (GBTC) into a U.S. spot exchange-traded fund (ETF), has announced that Mark Shifke will be taking the reins as the new chairman, effective January 1. 📆🌟

🔄 A Seamless Transition:
Mark Shifke, currently serving as DCG's chief financial officer, steps into the role without a hitch, ensuring a smooth transition in Grayscale's leadership. The sudden change was revealed in an SEC filing, leaving the crypto community abuzz with speculation about the reasons behind Silbert's departure.

🌐 Silbert's Legacy and Shifke's Vision:
Barry Silbert, a prominent figure in the crypto space, has been instrumental in Grayscale's journey. As he bids farewell, Mark Shifke, armed with financial expertise, takes charge with a vision that could shape the future of Grayscale and its endeavors.

🔍 SEC's Watchful Eye on Grayscale's ETF Aspirations:
The SEC's ongoing consideration of Grayscale's application to transform GBTC into a U.S. spot ETF adds a layer of intrigue to this leadership transition. The agency, grappling with multiple ETF applications, including those from BlackRock, Ark 21shares, Vaneck, and Hashdex, has set a crucial deadline of January 10, with Ark 21Shares being the first in line.

🚀 Year-End Reshuffling:
As the crypto industry braces for potential regulatory shifts and transformative developments, Grayscale's reshuffling at the top echelons mirrors the broader dynamics within the crypto financial landscape.

Source

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25 декабря 2023 18:56

💰 Bitcoin Miners Break Records: 400% YoY Surge in Transaction Revenue in 2023! 💎📈

In an extraordinary turn of events for the world of cryptocurrency, Bitcoin miners have set a blazing trail in 2023, clocking an astounding 400% year-over-year surge in transaction revenue! 🌐💸

📅 Record-Breaking Revenue: According to Jameson Lopp, Co-founder and CTO of Casa, Bitcoin miners generated revenue surpassing $10 billion in 2023, contributing to a staggering $57 billion amassed over the past 15 years.

💡 HODLing for the Future: Lopp hints at the possibility that miners might not be in a rush to convert Bitcoin to fiat currency. Many miners, he notes, embrace the strategy of "HODLing," holding onto their Bitcoin assets with an eye on potential long-term gains.

📊 Year-End Soars: The numbers speak volumes – in December alone, miners hit a record daily revenue of $64 million, marking an almost 400% increase from the year-to-date value. This surge underscores the flourishing profitability of Bitcoin mining.

💼 Quarterly Triumph: The final quarter of 2023 paints a lucrative picture for miners, with daily mining activity revenue consistently exceeding $33.85 million since December's commencement. Q4 2023 is proving to be a quarter of substantial profit for the Bitcoin mining community.

Source

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24 декабря 2023 12:54

🥇 FOX Anchor Charles Payne Drops Bombshell: Bitcoin's Path to $1 Million Unveiled! 🌐📈

Get ready for a financial revelation as Fox Business anchor Charles Payne, a seasoned Bitcoin investor, shares a bold prediction - the potential for Bitcoin to hit an astounding $1 million! 💰🌟

🔄💼 Navigating Investment Realms: In a recently published interview, Payne dissects the complexities of investment, comparing the strengths and weaknesses of traditional stocks to the allure of Bitcoin. 💡📊 He emphasizes the unique advantages stocks offer, providing shareholders exposure to what he dubs a "great business" and the chance to contribute to the capitalist system supporting the United States.

📣 Bitcoin's Sky-High Potential: Despite acknowledging the merits of stocks, Payne makes an audacious statement about Bitcoin's untapped potential. "It can potentially go to a million," he boldly claims during a Thursday episode of the Coin Stories podcast. 🎙️🚀

🌐🔍 Charting New Territories: Payne's insights illuminate the ever-evolving financial landscape, where traditional and digital assets coalesce, offering investors diverse opportunities for financial growth.

Source

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22 декабря 2023 13:09

💰 Phantom adds support for Bitcoin, Ordinals and BRC-20 tokens

Phantom's march toward adding support for a variety of chains took another step as it announced that users can now trade and transfer bitcoin, Ordinals and BRC-20 tokens. The wallet's new optionality is "currently in beta so it’s 100% opt-in," Phantom said in a post to X. "Without Bitcoin , there’d be no Solana, Ethereum, or web3. And for that, we’re forever grateful for Bitcoin and thrilled to launch it (in ₿eta) on Phantom," it also said.

Phantom, known for being a Solana wallet, took its first steps toward becoming multichain when it added support for the Ethereum and Polygon blockchains. "We believe that the future of digital asset management lies in cross-chain interoperability," Brandon Millman, co-founder and CEO of Phantom, said at the time. After launching in 2021, Phantom quickly became a popular wallet, and, as of about a year ago, had more than 3 million active users. Ethereum developers are credited with creating the wallet, which has a browser extension for accessing decentralized finance applications. Phantom raised $109 million in Series B financing in early 2022 in a round led by Paradigm.

Source

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19 декабря 2023 20:00

🚨 Man Fingered in the July 2022 Hack on 2 Decentralized Exchanges Pleads Guilty to Computer Fraud

Shakeeb Ahmed, the man publicly charged with the hack of an unnamed decentralized crypto exchange, recently pleaded guilty to computer fraud and has agreed to forfeit over $12.3 million. Damian Williams, the U.S. Attorney for the Southern District of New York, has said that Ahmed also admitted to being the individual behind the July 2022 hacking of the decentralized finance (defi) protocol Nirvana Finance.

In a statement released on Dec. 14, 2023, Williams said Ahmed, a senior security engineer, has agreed to return the stolen crypto to his victims. Chronicling Ahmed’s July 2-3 attack on the decentralized platform, the U.S. Attorney said the security engineer exploited a vulnerability in one of the platform’s smart contracts. This step enabled Ahmed to insert fake pricing data and this ultimately helped to generate approximately $9 million worth of inflated fees. According to the statement, Ahmed later reached out to the platform and an agreement was reached in which he would return all but $1.5 million worth of digital assets. The agreement was, however, conditioned on the matter not being referred to law enforcement.

Source

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16 декабря 2023 08:53

💰 Solana Rally Sees FTX's Holdings Grow to $4.2B, Setting Claims Market on Fire

A rally in the price of cryptocurrencies such as Solana (SOL), which is currently trading at $78, has set the market for FTX bankruptcy claims on fire, according to specialists at distressed firms dealing in crypto. Sam Bankman-Fried, the boss of FTX, which suddenly spiraled into bankruptcy last year, had championed the Solana project, and the exchange holds a sizable clutch of 55.8 million SOL tokens, according to CoinGecko.

Those SOL holdings, the majority of which (42.2 million) are locked up and not immediately tradable on the market, had been pegged at a market value of $1.16 billion earlier this year. The tokens are worth around $4.2 billion, based on the SOL price of $75.60 on Friday. This hike in the value of the FTX estate’s crypto holdings would catapult its recovery into 100% re-pay, leaving distressed firms scrambling to buy claims at 60-70 cents on the dollar, according to Thomas Braziel, CEO of 117 Partners. Vladimir Jelisavcic, founder and manager of Cherokee Acquisition, agreed that competition for FTX claims has been “exceptionally keen” lately.

Source

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14 декабря 2023 08:12

📣 DeFi Platform Conic Finance's CNC Token Surges 50% as the Protocol Plots Comeback After Hack

Decentralized finance (DeFi) protocol Conic Finance unveiled plans Tuesday to deploy its upgraded version (v2) after suffering an exploit in July. "Over the past four months Conic has undergone extensive auditing and review in preparation of v2 deployment," a governance post reads. "Now that all audits are nearly finalized it’s time to prepare Conic for launch." The protocol's governance token CNC jumped about 50% to $2.20 immediately after the announcement, CoinGecko data shows.

Conic Finance allows liquidity providers to diversify exposure to multiple liquidity pools and earn yields on major DeFi platform Curve Finance via so-called Omnipools. According to the governance post, the protocol will hold voting in two days about the list of supported Omnipool assets, whitelisted Curve pools for each Omnipool and initial liquidity allocation weights. Once the votes conclude, a separate governance proposal about the v2 deployment will include new features, reimbursement schemes and incentives. The total value locked (TVL) on Conic recently dropped to below $1 million from around $150 million before the attack, according to DefiLlama data.

Source

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12 декабря 2023 17:16

📊 Long liquidations spike to over $320 million today as bitcoin, ether stumble

Bitcoin BTC experienced a slight downturn today, dropping to $42,200 in the early Asian session from an earlier high of $43,800 — marking a decrease of nearly 4%. Ether also declined almost 5% to $2,230, along with most altcoins. This downturn led to a substantial liquidation of long positions on centralized exchanges. The volatility resulted in the liquidations of more than $94 million in bitcoin positions, with the majority ($85 million) being longs. liquidations occur when a trader’s position is forcibly closed due to insufficient funds to cover losses.

Will Sheehan, founder of data provider Parsec, noted a surge in DeFi liquidations as well at around $2 million, stating it’s the first time in more than a year that “retail has been getting leveraged on-chain.” Within derivatives markets, funding rates for bitcoin, ether and other cryptocurrencies dropped below +0.01% today — down from over +0.1% observed in the past few weeks — indicating reduced demand for leveraged longs, per CoinGlass data. Heading towards 2024, analysts maintain a positive outlook on cryptocurrency. Experts at investment management firm VanEck predict Bitcoin will achieve new all-time highs by the fourth quarter of next year. This optimism is driven by expectations for the upcoming Bitcoin halving event.

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09 декабря 2023 17:57

📊 Ether, Solana Hit 19-Month Highs as Bitcoin Rally Halts with Traders Fearing 'Bull Trap'

Bitcoin's (BTC) rally halted Thursday, ceding the stage to cryptocurrency majors ether (ETH) and solana (SOL) which led the crypto rally after surging to fresh 19-month high. BTC dipped to $43,000 during the day following its breakneck climb to near $45,000 earlier this week, suggesting that traders took some profits after the largest crypto's breakout from $38,000 a week ago. Recently, bitcoin was changing hands at around $43,300, down 1.1% over the past 24 hours.

ETH, meanwhile, popped 5% over the same period and hit $2,372, its highest level since May 2022. Its rally drove up the prices of other ETH-adjacent cryptocurrencies, making them the best performers of the day. Ether classic (ETC) appreciated 6%, while liquid staking protocol Lido's governance token (LDO) increased by over 11%. Solana (SOL) jumped over 8% to $69, the highest since May 2022, following a three-week cool-off since its mid-November local top. Arthur Hayes, crypto investor and BitMex exchange founder hinted at a $100 price target, speculating about a bullish weekend for altcoins in social media platform X (formerly Twitter) post on Tuesday.

Source

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07 декабря 2023 11:04

🏦 Coinbase Wallet Shared Links For Sending Money Instantly

Coinbase Wallet has introduced a new feature called Coinbase Wallet Shared Links, allowing users to send money globally through various messaging and social media apps including WhatsApp, iMessage, Telegram, as well as email. This feature eliminates the need for traditional banking methods and wire transfers, making sending money easier, cheaper, and faster. Users can simply create a link in Coinbase Wallet and share it with their recipients.

The funds will be instantly available, and if unclaimed within two weeks, automatically returned to the sender. Coinbase Wallet is available in 20 languages and over 170 countries, providing global accessibility for money transfers. In addition to Coinbase Wallet Shared Links, Coinbase Wallet is expanding global access by offering local fiat onramps in over 130 countries, making it easier for people in high-inflation economies to access stable currencies such as the US Dollar. Users can also receive money from any crypto exchange or self-custody wallet, buy USDC without Coinbase fees, and send USDC globally with no fees on various networks.

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05 декабря 2023 09:52

🇬🇧 Crypto.com Receives UK Authorization as an Electronic Money Institution

Crypto.com received authorization to operate as an electronic-money institution in the U.K., the exchange said in a Monday press release. Crypto.com received authorization to operate as an electronic-money institution in the U.K., the exchange said in a Monday press release. “The U.K. has and continues to be a hugely important market for our business and the greater industry,” said Kris Marszalek, CEO of Crypto.com.

Crypto.com has been striving to be compliant with regulators across the globe. The exchange recently received licenses in Singapore and is regulated as a derivatives clearing organization with the U.S. Commodity Futures Trading Commission. It also has registrations and licenses in France, Dubai and elsewhere. “The U.K. has and continues to be a hugely important market for our business and the greater industry,” said Kris Marszalek, CEO of Crypto.com. The country has said it wants to be a crypto hub. Crypto.com, as Forisgfs UK, was registered as a crypto business by the FCA in August last year.

Source

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02 декабря 2023 20:31

🇺🇸 Rep. French Hill Estimates Crypto Legislation to Pass in Early 2024

Representative French Hill, vice-chairman of the House Financial Services Committee and chair of the Digital Assets Subcommittee, outlined the committee’s plans regarding crypto regulation for next year. Hill told CNBC they intend to pass a stablecoin bill and a crypto oversight bill by early 2024. U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) the necessary tools to exert oversight over the cryptocurrency market.

Hill blasted the lack of action from the SEC on the FTX case, criticizing SEC Chair Gary Gensler for not working with Congress in issuing a regulatory framework with a legislative background as was recommended in a Biden Administration executive order signed last year. According to Politico, House Financial Services Committee Chair Patrick McHenry is in conversations for these two crypto bills to be included as part of the National Defense Authorization Act (NDAA). However, if this is not achieved, the committee intends to bring them to the floor before the end of this year. “I think it’s something that will benefit institutional and individual investors,” he concluded.

Source

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30 ноября 2023 10:21

🇦🇪 Paxos expands to Abu Dhabi with two new in-principle approvals

Crypto firm Paxos continues its international expansion, now snagging two preliminary approvals in Abu Dhabi. Paxos has received two in-principle approvals from the Financial Services Regulatory Authority in the Abu Dhabi Global Market to issue stablecoins and offer crypto brokerage and custody services, the company said Wednesday. The preliminary approvals are for two new entities of Paxos within the ADGM.

The full approvals are expected in the first half of next year, a Paxos spokesperson told The Block, adding that those will allow the company to issue new USD-backed as well as other currency-backed stablecoins from Abu Dhabi, although Paxos is currently focused on a new USD-backed stablecoin. The Abu Dhabi expansion plan comes two weeks after Paxos received in-principle approval from the Monetary Authority of Singapore for its new local entity that will launch a new USD-backed stablecoin in the country. Paxos was founded in 2012 and is backed by high-profile investors, including Bank of America, Peter Thiel's Founders Fund and Coinbase Ventures.

Source

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28 ноября 2023 14:15

📣 KyberSwap recovers $4.7 million after exploit

Decentralized exchange protocol KyberSwap has recovered $4.67 million in funds following a recent security attack. A hacking incident resulted in a loss of $47 million from Kyber's concentrated liquidity pools last week. A portion of funds' recovery was completed yesterday through negotiations with the operators of front-running bots, which extracted about $5.7 million in crypto from KyberSwap pools on the Polygon and Avalanche networks during the hack, the team said.

The bot operators agreed to a deal in which they would return 90% of the funds they had taken to a specified KyberSwap address on the Polygon network, with a 10% bounty as their incentive. This negotiation is distinct from the main event’s hacker, who had previously indicated a willingness to negotiate. While the team offered a white hat bounty, that negotiation has seemingly not yet progressed. The hacker had targeted KyberSwap’s Elastic pools, impacting funds across multiple blockchains, including Arbitrum, Optimism, Ethereum, Polygon, and Binance Smart Chain. The vulnerability exploited by the hacker was linked to an issue with the tick interval boundaries in Kyber’s concentrated liquidity pools.

Source

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27 декабря 2023 05:12

🚀 Crypto Boom in K-Drama Style: South Korea's Bitcoin Buzz Reaches New Heights! 🌟🇰🇷

🔥 The stage is set, and the Korea Premium Index (KPI) takes the spotlight, giving us a front-row seat to the electrifying 'Kimchi Premium' dance in the world of crypto! 🎤💰

📈 Watch the KPI rise, signaling a bullish crescendo as South Korean traders turn up the tempo, fueling a surge in crypto prices on local exchanges. It's a symphony of buying excitement! 🚀🌐

📉 When the KPI takes a dip, it's a subtle note of caution, suggesting a bearish undertone. Will the rhythm of the market change, or will it continue to dance to the crypto beat? 🎢📉

⏪ Let's rewind and feel the vibe: The 14-day moving average mirrors the golden era of Bitcoin's 2021 peak, adding a nostalgic twist to the current crypto saga. 🔄🌟

Source

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26 декабря 2023 05:42

🌐🚀 Crypto on the Horizon: 2024 to Witness Surge in Institutional Investors! 📈💼

Big players are gearing up for a crypto boom in 2024, and analysts predict a significant spike in interest from institutional investors. 🌟🔍

👉 Driving Factors:
- 🚀 *Spot Bitcoin ETF Approval:* The potential green light for a spot bitcoin ETF is set to unleash a wave of institutional interest, creating new avenues for investment.
- 📉 *Anticipated Fed Rate Cuts:* Analysts foresee U.S. Federal Reserve rate cuts acting as a catalyst, drawing institutions into the crypto sphere.
- 📚 *Regulatory Clarity:* Greater regulatory clarity is a game-changer, offering a secure framework for institutions to navigate the crypto landscape.

📊 Early Signs: The momentum has already begun! Data from Deribit's derivatives exchange indicates a surge in institutional activity since October 2023. 📈💹

🗣️ Insider Insights: Luuk Strijers, Deribit's Chief Commercial Officer, notes the strategic moves of seasoned players from traditional markets, positioning themselves for a more active role in 2024. 🎯📅

📈 Snapshot Summary:
- 🌐 2024 foreseen as a pivotal year for increased institutional crypto involvement.
- 📈 Deribit's data reveals a surge in institutional activity since October 2023.
- 🚀 Spot Bitcoin ETF approval, Fed rate cuts, and regulatory clarity drive institutional interest.

Source

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25 декабря 2023 02:28

⚪️ Curve Finance Bounces Back: Full Reimbursement After July Exploitation! 💎🚀

In a remarkable turn of events, Curve Finance successfully rebounds from the July 30th exploit, where four pools fell victim to a re-entrancy bug, courtesy of the Vyper programming language. The exploit led to a staggering $73.5 million loss.

🔒 Swift Response to Crisis: Following the breach, the community swiftly rallied. Curve Finance took the lead, extending an olive branch and proposing the incident be treated as a white hat operation. The offer? Return 90% of the stolen funds.

🌐 Hacker Chase: The community, backed by genuine white hat heroes, embarked on a pursuit to reclaim what was taken. A commendable effort resulted in the recovery of approximately $52 million, which was promptly returned to the exchange.

💡 Community Decision: With a portion of the funds recovered, the Curve community engaged in deliberations. The question at hand: Should users be reimbursed, and if so, what's the best approach? A democratic process unfolded to determine the path forward.

🌈 Rebuilding Trust: The full reimbursement signifies not just financial recovery but a testament to the resilience of the Curve Finance community. The commitment to transparency and user trust takes center stage in this remarkable comeback story.

💪🏽 Strength in Unity: The community's united front in overcoming adversity paints a vivid picture of collective strength. As Curve Finance emerges from the shadows of exploitation, it sets a precedent for resilience and unity in the face of challenges.

Source

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23 декабря 2023 14:11

🪙 Ethereum Developers Target January for First Testnet Deployment of Next Big Upgrade, 'Dencun'

Ethereum developers are heating up their testing process for the upcoming Dencun upgrade, a major milestone expected next year that would add capacity for data storage via a new process known as "proto-danksharding.". Developers also discussed a draft timeline for the Dencun testing upgrade, aiming to run through another test network, Sepolia, on Jan. 31, the Holesky testnet on Feb. 7, and then proceeding to deploy the changes on mainnet around the end of February.

In a biweekly call Thursday, the developers discussed that they are targeting Jan. 17 for the Goerli test network (testnet) to run through Dencun, the much-anticipated upgrade that will enable “proto-danksharding,” which reduces fees for layer 2 rollups and scale the blockchain by increasing space for “blobs” of data. “Obviously if we find a major issue or something crazy before then we can always cancel,” Tim Beiko, protocol support lead at the Ethereum Foundation said on the call. “This would mean ideally we’re putting out the blog post for the fork sometime during the week of Jan.uary 8th, so people have at least a week to update.”Dencun was originally targeted for the last quarter of 2023, but the developers pushed it back to 2024, citing the engineering complexities of the upgrade.

Source

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20 декабря 2023 08:55

📣 Galaxy Digital Looking to Buy More Crypto Bankruptcy Assets After Deal to Sell FTX's Coins: FT

Galaxy Digital (GLXY), the cryptocurrency financial services firm headed by Mike Novogratz, is looking to buy more assets from bankrupt crypto companies after securing a deal to sell bitcoin and ether owned by crypto exchange FTX on behalf of the estate's management, the Financial Times reported. That deal, from August, tripled Galaxy's assets under management to $5.3 billion, according to the FT.

Galaxy's global head of asset management, Steve Kurz, told the FT it is looking to repeat the experience with other bankrupt companies. That includes firms FTX invested in as a venture capital provider. In December last year, the New York-based company won an auction to buy self-custody platform GK8 from bankrupt crypto lender Celsius Network. "We have a crypto venture team that has been investing off our balance sheet for five years," Kurz said, according to the newspaper. "The record that we have on that side of our asset management business means we'd be a good candidate for something like that."

Source

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17 декабря 2023 19:08

🪙 Tether Releases Letters Sent to US Senate Committee: Details

Tether, the company behind the largest stablecoin, has released the two letters it had sent to the US Senate Committee on Banking, Housing, and Urban Affairs and House Financial Services Committee. The letters are specifically addressed to pro-Bitcoin Senator Cynthia Lummis and Rep. French Hill. The main goal of Tether’s letters is to address issues raised by both Lummis and Hill regarding the alleged use of stablecoins in illicit activities, such as funding terrorism and money laundering.

The company added that it is “fully committed to the fight against terrorist financing, compliance with the Bank Secrecy Act and U.S. Sanctions Laws, and meeting the highest levels of customer due diligence and rigorous transaction screening.” The letter also outlined Tether’s recently implemented policy that allows it to freeze wallets and assets supposedly linked to illegal activities. The recently appointed CEO, Paolo Ardoino, said his firm is grateful for the possibility of addressing these issues with the US government. He added that Tether aims to be a “world class partner” of US authorities as they “continue to assist law enforcement and expand dollar hegemony globally.”. Tether is the largest stablecoin issuer.

Source

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15 декабря 2023 08:03

🇷🇺 Crypto Exchange CoinList Settles OFAC's Russian Sanctions Allegations for $1.2M

Crypto exchange CoinList paid $1.2 million to settle U.S. Office of Foreign Assets Control allegations it allowed users in Crimea, a Ukrainian peninsula annexed by Russia, to use the platform. CoinList "opened 89 accounts for customers, nearly all of whom had specified 'Russia' as their country of residence but all of whom provided addresses in Crimea upon account opening," the OFAC notice reads. "Screening protocols failed to recognize that ‘Crimea’ or a city name in Crimea, provided in another data field, indicated likely residence in Crimea."

Russia invaded Crimea in 2014, and most countries still see the region as part of Ukraine. The occupation led to the imposition of sanctions on Russia. OFAC said that the fine was significantly lower than the potential maximum of nearly $327 million because of CoinList's past compliance, cooperation and the small number of transactions involved relative to the exchange's total volume. “This enforcement action further emphasizes the importance for virtual currency companies and those involved in emerging technologies to incorporate risk-based sanctions compliance into their business functions, especially when the companies seek to offer financial services to a global customer base,” OFAC said in a media release.

Source

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13 декабря 2023 08:08

🏦 Coinbase looks toward diamond-handed institutions with new digital-asset project launch

Coinbase and Coinbase Asset Management have launched “Project Diamond” — a smart contract-powered platform designed to enable institutions to create, manage, buy and sell a range of digitally native assets directly on-chain. Coinbase Asset Management said Project Diamond’s initial use case will be confined to registered institutional users outside of the U.S. It works by leveraging Coinbase Prime custody, Coinbase’s web3 wallet.

The platform executed its first digital debt instrument on Nov. 10 as a feasibility demonstration for the UAE’s Financial Services Regulatory Authority. The demonstration was made in preparation for entering the Abu Dhabi Global Market RegLab, having received in-principle approval to conduct regulated activity within the sandbox. The ADGM RegLab is a specially tailored regulatory framework providing a controlled environment for FinTech participants to develop and test innovative solutions, according to its website. Project Diamond aims to bridge this gap — with its initial digital discount note demonstration, denominated in USDC, transacted within a single application at near-instant settlement speed on Base, Coinbase added.

Source

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11 декабря 2023 16:52

🇬🇧 UK FCA crypto skills gap is causing slow enforcement, says National Audit Office

The National Audit Office (NAO) in the United Kingdom has raised concerns about the effectiveness of the Financial Conduct Authority (FCA) in regulating the cryptocurrency industry. In a recent report titled “Financial services regulation: adapting to change,” the NAO has claimed that the FCA is being slow to respond and take action against illicit activities in the crypto industry.

The NAO highlighted that it took the FCA almost three years to take action against illegal operators of crypto ATMs. On July 11, Cointelegraph reported that the FCA had shut down 26 crypto ATMs as part of a coordinated investigation. The NAO claims that the delay in registering crypto firms seeking regulatory approval from the FCA was attributed to the absence of specialized crypto personnel. “For example, a shortage of crypto skills meant the FCA took longer than planned to register crypto-asset firms under money laundering regulations,” the report state. On Jan.27, Cointelegraph reported that the FCA approved only 41 out of the 300 crypto firm applications seeking regulatory approval since the rules were implemented in January 2020.

Source

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08 декабря 2023 17:50

💰 Bitcoin price could potentially rise above $50,000 in early 2024: CryptoQuant

A CryptoQuant report predicted Bitcoin could potentially exceed $50,000 early in 2024, from its current price of $43,000. The prediction is based on analyzing Bitcoin’s user activity, using the Metcalfe price valuation band metric, considering factors like market capitalization, transaction volume, and user activity. The report suggested Bitcoin’s target price range could be $50,000 to $53,000 early next year.

"Bitcoin may be targeting $50,000 to $53,000 based on the network activity valuation perspective," CryptoQuant analysts said. CryptoQuant analysts noted that Bitcoin’s supply in profit is above 88%, and sell pressure may be increasing as a significant portion of circulating supply is in profit. The report, therefore, cautioned of potential short-term corrections, noting that high levels of circulating supply in profit often align with local market tops. The report referenced the “bitcoin bull-bear market cycle indicator,” indicating a current bull market but nearing an “overheated bull phase” which historically aligns with price rally pauses or corrections.

Source

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06 декабря 2023 12:06

📊 Crypto mining firm Phoenix rises 50% on first day of trading after $370 million IPO

Crypto mining and blockchain technology firm Phoenix Group saw its shares soar by around 50% on its Abu Dhabi Securities Exchange (ADX) debut today, following an initial public offering (IPO) that raised $370 million. Phoenix (PHX) rose to 2.20 United Arab Emirates dirhams ($0.60) in early trading, up from an IPO price of 1.50 dirhams ($0.41), before falling back. PHX is currently priced at 2.02 dirhams, according to TradingView data.

Phoenix’s IPO marks the first public listing of a crypto-related company in the Middle East and was 33 times oversubscribed, according to the firm — some $12 billion worth of orders. Phoenix made 907,323,529 shares available at 1.50 dirhams per share (a 17.6% stake of the company's share capital), with particular interest from retail investors, who oversubscribed by 180 times. Professional investors oversubscribed by 22 times. The company’s post-IPO valuation is estimated at approximately $2.5 billion. The listing was moved back a day after the UAE’s Ministry of Human Resources and Emiratisation marked Dec. 2 to Dec. 4 as public holidays for the private sector.

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03 декабря 2023 14:09

💰 Ripple's CLO Says SEC Is Anything But Infallible — Advises 'Don't Be Intimidated When They Come Knocking'

Ripple’s chief legal officer, Stuart Alderoty, slammed the U.S. Securities and Exchange Commission (SEC) on social media platform X on Thursday. Quoting an article published in the Wall Street Journal stating that the Supreme Court has repeatedly ruled against the SEC in recent years, Alderoty stressed that the securities regulator is “anything but infallible,” noting that the agency is “bloated, broken, and beleaguered.”

Commenting on Alderoty’s statement, lawyer John Deaton shared: “I remember when I sued the SEC and some people said: ‘You’re crazy.’ Why? The SEC is only good at one thing: intimidating people because they have the unlimited resources of the American taxpayer. And some people also get intimidated because maybe fighting the SEC will mean the SEC calls the IRS [Internal Revenue Service] on you as well. This country was born fighting against government oppression and intrusion. It is most American to fight back!”. The securities regulator recently lost several legal cases against crypto firms. Last month, Alderoty highlighted three consecutive wins for Ripple Labs against the SEC, including the July 13 decision ruling that as a matter of law XRP is not a security.

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01 декабря 2023 17:13

💰 Celsius starts to open crypto withdrawals for holders of some claims

Celsius, a crypto lender that filed for bankruptcy last summer, is starting to open withdrawals to some users. Customers of the Custody Program, who are holders of "Class 6A General Custody Claims' and/or Class 6B Withdrawable Custody Claims," can start withdrawing their funds from the platform "on or around" Nov. 29, according to a court document. They have until Feb. 28 to make the transactions.

Qualifying users will be able to withdraw 72.5% of their crypto, minus transaction fees, if they didn't previously participate in a custody settlement. Customers who voted to reject the reorganization plan will not participate in this distribution, and their funds will be pooled in a segregated wallet and managed by the Litigation Administrator over the following six months, the document says. Some users have already tried to withdraw and complained they had trouble logging in, according to posts on X. Around 58,300 users hold what the court classified as "custody assets" worth about $210 million, according to a September court filing.

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29 ноября 2023 09:50

✖️ dYdX Chain starts paying trading rewards following governance vote

Cosmos-based Layer 1 dYdX Chain has begun distributing DYDX +
rewards accrued from trading activities to users, following the commencement of full trading on the decentralized derivatives trading protocol, which was greenlit by a decisive governance vote. The beta mainnet of dYdX Chain was launched on November 14, initiating "active trading" across more than 33 markets with leverage of up to 20x. During the beta phase, although staking rewards were active.

Since the launch of the beta stage two weeks ago, the protocol has seen over $1.86 million in total trades across roughly 14,000 transactions, as reported by the dYdX Operations subDAO, which manages the decentralized infrastructure of the dYdX Chain. Initially, just four markets are available for full trading: BTC/USD, ETH/USD, SOL/USD and LINK/USD, with more markets to be added over the coming weeks, the dYdX Operations subDAO said. The alpha mainnet for dYdX version 4, along with the debut of its Cosmos-based blockchain, was launched on Oct. 26, signaling a notable transition for the leading decentralized derivatives platform to become a standalone Layer 1 on Cosmos after previously relying on Ethereum Layer 2 scaling solution StarkEx in version 3.

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26 ноября 2023 17:36

🟠 Binance Founder Changpeng 'CZ' Zhao Isn't a Flight Risk, His Attorneys Say

Binance founder Changpeng "CZ" Zhao poses "no risk of flight" and should be allowed to return to the United Arab Emirates for now, a Thursday filing said. The partially redacted document pushed back against a U.S. Department of Justice filing, arguing that Zhao should not be allowed to leave the U.S. ahead of his February sentencing after pleading guilty to one charge of violating the Bank Secrecy Act. Zhao has already demonstrated he won't be a flight risk by the very fact that he came to the U.S. to enter that plea.

"Based on all the relevant facts, including Mr. Zhao’s voluntary self-surrender, his intent to resolve this case, and the sizable bail package he proposed, Judge Tsuchida found that Mr. Zhao presents no risk of flight, even while residing in the UAE," the filing said. Binance pleaded guilty to multiple charges alongside Zhao earlier this week, agreeing to pay a massive $4.3 billion fine, appoint monitors to oversee its compliance program and review its past transactions and accept Zhao's resignation as CEO. Former Binance regional markets head Richard Teng has taken over as CEO. Still, his attorneys and the DOJ have been arguing over whether he can return to the UAE, where he is a citizen and where his family lives, or if he must stay in the U.S. If Zhao returns to the UAE.

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