The Chinese government continues to crack down on the cryptocurrency industry with a new investigation targeting a major Chinese yuan stablecoin issuer. The team of Trust Reserve, the issuer of the Chinese yuan-pegged stablecoin CNHC, has been detained by the Chinese police, the local blockchain publication PANews reported on May 31. According to the report,
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Early Bitcoin (BTC) investor and Bitcoin Cash (BCH) advocate Roger Ver claimed that Ethereum, not Bitcoin, will be responsible for driving the bulk of new users towards crypto. On a May 31 episode of the Show Me The Crypto podcast, Ver — labeled “Bitcoin Jesus” for his early Bitcoin advocacy — said that despite Ethereum’s
Dr. Saifedean Ammous, the author of the explanatory book about Bitcoin (BTC), The Bitcoin Standard, has been appointed the Economic Advisor to the National Bitcoin Office of El Salvador. On May 30, the Office announced that the Austrian economist had joined the team as its advisor for matters related to various economic policies. Dr. Ammous’
Ben.eth, the pseudo-anonymous memecoin creator behind at least three controversial token launches in recent weeks could fall under the crosshair of United States regulators, crypto lawyers suggest. A previously little-known personality in the crypto community, Ben.eth has seen his Twitter following blow up nearly five-fold in May. The influencer has launched at least three memecoins
“Adversary nations” like China could ultimately benefit from restrictive crypto policies in the United States, warns Coinbase CEO Brian Armstrong. In a May 30 op-ed for MarketWatch, Armstrong again warned that while recent turbulence in crypto markets might tempt U.S. policymakers “to write it off as an unstable asset class,” doing so could see the
Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the Central Bank of the United Arab Emirates (CBUAE) with the two agreeing to “strengthen cooperation” on “virtual
A team of researchers from Friedrich-Alexander-Universität Erlangen-Nürnberg recently published a paper detailing methods investigators and courts can use to determine the validity of deanonymized data on the Bitcoin (BTC) blockchain. The team’s preprint paper, “Argumentation Schemes for Blockchain Deanonymization,” lays out a blueprint for conducting, verifying and presenting investigations into crimes involving cryptocurrency transactions. While the
A new yield farming app called Origin Ether has accumulated over $12 million in total value locked (TVL) just 14 days after launch, according to data from blockchain analytics platform DefiLlama. TVL is a metric that measures the dollar value of assets inside an app’s smart contracts. The app was launched on May 16, according
Dozens of artificial intelligence (AI) experts, including the CEOs of OpenAI, Google DeepMind and Anthropic, recently signed an open statement published by the Center for AI Safety (CAIS). We just put out a statement: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear
The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs) and DCO applicants, reminding them of the risks associated with expanding the scope of their activities. The letter from the CFTC Division of Clearing and Risk (DCR) specifically addressed digital assets. Staff advisory letters can
Bitcoin’s volatility has dropped to historically low levels thanks to macroeconomic uncertainty and low market liquidity. However, on-chain and options market data allude to incoming volatility in June. The Bitcoin Volatility Index, which measures the daily fluctuations in Bitcoin’s (BTC) price, shows that the 30-day volatility in Bitcoin’s price was 1.52%, which is less than half of
A United State District Judge has referred a motion requesting the appointment of an independent examiner for bankruptcy crypto exchange FTX to appellate court. In documents filed in U.S. District Court for the District of Delaware on May 30, Judge Colm Connolly said the U.S. Trustee in FTX’s case, Andrew Vara, requested an appeal following
After a long period of unusually low volatility, Bitcoin’s next major price move is likely imminent and could drive BTC to $32,000, according to James Check, the lead on-chain analyst at Glassnode. That price level is where Bitcoin’s “true cost basis is sitting,” Check explained in an exclusive interview with Cointelegraph. To calculate Bitcoin’s average
Attorney John Deaton, known for his pro-XRP stance, has disclosed that the SEC’s Ethics Office did not approve William Hinman’s controversial speech. The former director of SEC’s Corporation Finance, Hinman, made remarks in 2018 classifying Bitcoin and Ethereum as non-securities but failing to mention XRP. Deaton recently shared a document that shed light on the
Bitcoin (BTC) fell into the May 30 Wall Street open as the return of United States equities failed to boost performance. Bitcoin pauses into monthly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $27,700, having briefly spiked above the $28,000 mark. The pair encountered resistance below its local highs from around
In late April, over a hundred people gathered near the Texas Capitol building to protest. Peaceful protests in the United States are not uncommon, but what made this one unique was that its participants were gathered to advocate for the right to own and use cryptocurrencies. The location is also puzzling, as the Lone Star
Each year at the annual UN Climate Change Conference (COP), individual countries are pressured to ramp up their emissions reductions promises and showcase evidence they are taking steps to meet them. With Bitcoin mining blamed for using as much power as an entire country, and politicians searching for easy targets to strike, the industry appears
Generative artificial intelligence models such as OpenAI’s ChatGPT are trained by being fed giant amounts of data, but what happens when this data is copyrighted? Well, the defendants in a variety of lawsuits currently making their way through the courts claim that the process infringes upon their copyright protections. For example, on Feb. 3, stock
Cryptocurrency exchanges in Japan are preparing for the enforcement of the Financial Action Task Force’s Anti-Money Laundering (AML) regulations known as the Travel Rule. Major Japanese crypto exchange bitFlyer on May 30 announced the adoption of measures in response to the enforcement of stricter AML measures targeting crypto transactions in Japan. bitFlyer has introduced restrictions
Bitcoin Ordinals are the latest layer-2 solution enabling decentralized storage of digital art on the Bitcoin blockchain. Ordinals will now allow users to migrate their Ethereum ERC-721-based nonfungible tokens (NFTs) to the Bitcoin blockchain with the launch of the BRC-721E standard. The BRC-721E standard was jointly launched by the Ordinals market — an Ordinals-based marketplace