The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), “disrupted” 26 of the 34 cryptocurrency ATMs it visited and inspected since the start of 2023. On Feb. 14, the FCA gave an ultimatum to all crypto ATM operators in the U.K. — comply with regulations or wind down illegal operations. Following the warning, the
In the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), anticipation has reached fever pitch as the community eagerly awaits a ruling. Already 931 days ago, the SEC filed its lawsuit against Ripple Labs and its executives Brad Garlinghouse and Chris Larsen. The last publicly visible action in the litigation occurred
Crypto investment firm Paradigm’s Special Counsel Rodrigo Seira has become the latest to slam the United States securities regulator, this time for “wrongfully” pursuing crypto exchange Bittrex in an attempt to police secondary crypto markets. In a July 11 Twitter thread, Seira added his thoughts after an amicus brief filing from Paradigm, arguing that the
Justin Sun, the co-founder of Tron, withdrew 30,000 ETH, worth roughly $56 million, via two addresses via Lido, a liquidity staking service provider, on July 10, Lookonchain reveals. Following his move, his Ethereum stake via Lido is down to 263,294 ETH, or $491.6 million at spot rates. Justin Sun Unstakes From Ethereum Lookonchain, a blockchain
Dubai’s cryptocurrency regulator has suspended the license of crypto exchange BitOasis for not meeting mandated conditions within the timeframes set out by the authority. On July 10, the Virtual Assets Regulatory Authority (VARA) issued two alerts saying its undertaken enforcement action against BitOasis and is reviewing the Dubai-based firm. VARA said BitOasis’ conditional license, granted
The upcoming Bitcoin (BTC) halving is set to blow fresh wind in the sails of Bitcoin-focused stocks such as Michael Saylor founded tech firm MicroStrategy. In a research note shared with Cointelegraph, New York-based investment firm Berenberg Capital Markets explained its reasons for a bullish outlook on MicroStrategy (MSTR), which Berenberg has given a $430
In an email dated Jan. 17, 1993, Hal Finney — a developer and early contributor to Bitcoin — shared the concept of “encrypted digital cards,” which are now known as nonfungible tokens (NFTs). “Giving a little more thought to the idea of buying and selling digital cash, I thought of a way to present it,”
Chinese president shills CBDCs On July 4, Xinhua News Agency, China’s state broadcaster, published a transcript of President Xi Jinping’s address to the Shanghai Cooperation Organisation Summit (SCO). The SCO is one of the world’s largest regional organizations for political, economic and security cooperation, and was established by China and Russia in 2001. During the
On-chain data compiled by Santiment, an analytics platform, shows that more people are discussing XRP, the native token of the XRP Ledger (XRPL), per statistics captured on July 10. In their assessment, the spike in social chatter, translating to higher social dominance, will most likely draw demand for the crypto asset that has recently been under
Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and stablecoins, he would prefer “enhanced digital money.” The spate of bank failures in the
The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “re-enter” a contract or interrupt it during a multi-step process, preventing the process from
Last week saw more rules and regulations emerge regarding digital assets. Thailand’s Securities and Exchange Commission issued new rules requiring digital asset service providers to warn customers of risks associated with cryptocurrency trading. The warning message must be clearly visible, and before customers can use the service, the business operator must arrange for the users
Six members of the United States congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party. In a July 10 letter, Alabama Senator Thomas Tuberville and five members of the House of Representatives alleged Prometheum co-CEO Aaron
An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks. The proposal was co-authored by Arjun Bhuptani, founder of the Connext bridging protocol. In a July 7 social media post,
A Canadian House of Commons committee report has recommended that the country “recognize blockchain as an emerging industry” and take all the steps that entails. There are a lot of steps needed, it said. The report was released by the Canadian House of Commons Standing Committee on Industry and Technology after a study that involved
Researchers at Pennsylvania State University recently analyzed whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets. According to the team’s research paper, social media plays an outsized role in adoption and activity rates, while cryptocurrency journalism isn’t a great predictor of market movement:
The weighted average cost of purchased Bitcoin recently reached a level signifying that all investors who have consistently dollar-cost averaged into Bitcoin (BTC) are now in the black, regardless of how long they have been holding. Just a reminder that every single pleb who has been dollar cost averaging #bitcoin is now in profit no
Digital asset manager Grayscale has filed a letter in its lawsuit against the United States Securities and Exchange Commission (SEC) over the rejection of a spot Bitcoin exchange-traded fund (ETF), citing a possible precedent in furtherance of its case. In a letter dated July 10, Grayscale’s legal team notified the U.S. Court of Appeals for
Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year.
Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, has reportedly had his first hearing for charges related to allegedly illicit profits from the sale of Terra (LUNA). According to a July 10 report from News1 Korea, a trial preparation hearing for Shin and 7 alleged accomplices began in a Seoul Southern District Court