Bitcoin (BTC) is setting unenviable records this week as hodlers big and small battle some major pain. Data from on-chain analytics firm Glassnode shows over one-third of the BTC supply being held at a loss by long-term hodlers (LTHs) — a new all-time high. Long-term holders shoulder record unrealized losses Profitability has taken a serious
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The government of Indonesia wants to assign crypto supervision to the Asian nation’s financial watchdog in order to ensure better protection for investors. The move is part of a planned overhaul of regulations in the sector aimed at increasing oversight of the expanding digital assets market. Indonesia Mulls Over New Financial Legislation Designed to Tighten
The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX. California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that the department expects all
The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit opinions on the design and nature of the CBDC and its overall acceptance by the public.” The bank said the information obtained via this process will be “treated with the utmost confidentiality and the results will
press release PRESS RELEASE. The9 Limited (Nasdaq: NCTY) (“The9”), an established internet company, has newly announced that its NFT community NFTSTAR is releasing the next drop of exclusive NFTs in collaboration with professional Brazilian international footballer Neymar da Silva Santos Júnior. The collaboration so far has been a huge success, with the first drop of
Law enforcement and judicial authorities from Russia and Turkey are joining forces in the fight against cybercrime, including the use of cryptocurrencies for illegal purposes. The collaboration has been agreed upon during a visit by Russia’s Prosecutor General to Ankara. Russia, Turkey Arrange Cooperation on Countering Crime Involving Digital Space and Assets The Prosecutor General
United States senators Debbie Stabenow and John Boozman have doubled down on their commitment to publishing a final version of the Digital Commodities Consumer Protection Act 2022 (DCCPA) in the wake of FTX’s shocking collapse. For a short time, the cryptocurrency community wasn’t sure how the senators would respond to the FTX crisis — as
Twitter has filed paperwork with the U.S. Financial Crimes Enforcement Network (FinCEN) to start a payment business. Tesla CEO and Twitter chief Elon Musk explained the social media platform could offer “an extremely compelling money market account” in addition to “debit cards, checks, and whatnot.” Elon Musk Shares Ideas for Twitter’s Payment System Twitter Inc.
U.S. Senator Elizabeth Warren says the implosion of crypto exchange FTX shows that the crypto industry needs “more aggressive enforcement.” She stressed: “I’m going to keep pushing SEC to enforce the law to protect consumers and financial stability.” However, many people pointed out that the Securities and Exchange Commission (SEC) has failed to provide clear
Blockfi, a cryptocurrency lending platform, has announced that it is limiting the operations of its platform and pausing customer withdrawals. The company issued a letter where it states that this decision was caused by the “lack of clarity” on the current state of FTX, which had previously announced an investment of $250 million in the
On Thursday, at approximately 12:48 p.m. (ET), the embattled exchange FTX revealed that it has created a special facility with Tron. The deal allows holders of specific Tron-based coins to withdraw the tokens to external wallets on a 1:1 ratio. While coin market aggregation sites say tron tapped a high of $0.06 per token on
Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000. JPMorgan on FTX and Bitcoin’s Price JPMorgan Chase’s analysts, led by global
press release PRESS RELEASE. Fiat-crypto payment provider, Alchemy Pay, is bringing its mainstream-friendly services to Europe’s foremost crypto conference – London Token2049. The Singapore-based company has taken its payment network infrastructure and pivoted to direct-to-customer (D2C) services, with its highly versatile and customisable NFT Checkout and On & Off Ramp Solutions. Europe’s Premier Crypto Event
The Bahamas Securities Commission (BSC) has frozen the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10, it also suspended FTX’s registration in the country and the Bahamian Supreme Court appointed a provisional liquidator, the BSC said in a statement shared by local media. The BSC added it was aware of “public
The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and DOJ Investigate Crypto Exchange
Optimism developers jvmi and Kelvin Fichter released a new app called Magic Mirror on Nov. 9 that allows NFT holders to copy or “mirror” their Optimism NFTs to the Ethereum mainnet. NFT holders can now use their Optimism NFTs in a variety of verified apps, such as in Twitter’s profile badge system — where previously,
Bitcoin (BTC) crashed below $16,000 on Nov. 9, driving the price to its lowest level in two years. The 2-day correction totaled a 27% downtrend and wiped out $352 million worth of leverage long (buy) futures contracts. To date, Bitcoin price is 65% down for 2022, but it’s essential to compare its price action against
The recent liquidity crisis at FTX will increase regulatory scrutiny in the crypto industry, which is what institutional investors are seeking, a number of sources told Cointelegraph on Nov. 10. “This event will be used as a cornerstone to spark new crypto regulations, which is good for the healthy development of the industry. A more
The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions. In a Nov. 10 press briefing, White House Press Secretary Karine Jean-Pierre said Biden was aware of the ongoing situation with the crypto market,
Venture capital giant Sequoia Capital is marking its investment in the embattled crypto exchange FTX down to $0. “In recent days, a liquidity crunch has created solvency risk for FTX,” the firm stressed, adding that “The full nature and extent of this risk is not known at this time.” Sequoia Capital Deems Its Investment in