Memecoin buyers are playing the crypto-equivalent of Powerball — with many “playing” in the hopes of scoring “life-changing money,” yet only a few will walk away with the jackpot, says Matrixport’s head of research. Memecoins have seen a huge resurgence over the last week. Crypto tokens such as Pepe (PEPE) and Milady (LADYS) have boasted
Crypto exchange Binance US and its founder Changpeng Zhao (CZ) are reportedly looking for ways to reduce his stake in the firm, amid harsh scrutiny from United States federal regulators over the past year. The crypto executive — Binance US’ majority owner — has reportedly been trying to reduce his stake in the U.S.-based exchange
The United States Chamber of Commerce has blasted the Securities and Exchange Commission (SEC) for its “haphazard, enforcement-based approach” to regulating the cryptocurrency industry on American soil. In an amicus brief filed to the U.S. Court of Appeals on May 9, the U.S. Chamber of Commerce threw its full weight behind Coinbase, accusing the SEC of
Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to
An unidentified issue on Ethereum’s Beacon Chain led to a halt in transactions for nearly half an hour on May 11. Around 8:15pm on Thursday May 11, a number of Ethereum core developers announced that the Beacon Chain was having issues with confirming transactions. New blocks were able to be proposed but an unknown issue
A Goldman Sachs executive who also serves as the chair of a Treasury advisory committee has warned that a U.S. default poses “real risk to the U.S. dollar.” She stressed: “Anything that moves us away from being viewed as the world’s reserve currency, of being the safest most liquid asset in the world, is bad
IRS wants $38 billion tax from Alameda According to recent flings posted by the claims agent of bankrupt cryptocurrency exchange FTX, the U.S. Internal Revenue Service (IRS), is claiming a total of $44 billion from the exchange’s bankruptcy and related firms, including $38 billion against its sister quantitative trading firm Alameda Research. In one single
The chair of the United States House of Representatives Financial Services Committee and six subcommittee chairs have sent a letter to U.S. Securities and Exchange Commission (SEC) Secretary Vanessa Countryman voicing their concerns over the agency’s proposed advisory clients custody rule. They join a string of crypto industry figures in expressing their objections. Financial Services
The Federal Reserve’s forthcoming instant payment service FedNow will be integrated with Metal Blockchain, according to a May 11 announcement from the Metal Blockchain team. The announcement said that the integration will allow Metal users to instantly convert funds to stablecoin and back again using FedNow’s “send/receive” function. FedNow is an instant payment system developed
Former U.S. President Donald Trump has urged Republican lawmakers to let the U.S. default on its debt obligations if the Democrats do not agree on “massive” spending cuts. Trump, who is also running for president in 2024, stressed that letting the U.S. default is “better than what we’re doing right now because we’re spending money
The National Bank of Ethiopia (NBE) has issued a mobile money-service license to Safaricom M-Pesa Mobile Financial Service, it announced May 11. Previously, only Telebirr, part of the state-owned Ethio Telecom network, operated in that market. Kenya-based Safaricom was also the first company to break Ethio Telecom’s monopoly on Ethiopian mobile phone service in October,
Paradigm, the crypto investment firm led by Coinbase co-founder Fred Ehrsam, has petitioned to file an amicus brief in support of Coinbase’s case against the United States Securities and Exchange Commission (SEC). In March, Coinbase received a Wells notice from the SEC, potentially leading to the financial regulator taking enforcement action against the U.S.-based crypto
Marathon Digital Holdings, a publicly-listed bitcoin mining company, has recently revealed that it was served with a subpoena by the U.S. Securities and Exchange Commission (SEC) in relation to an investigation concerning the firm’s Montana mining facility. The SEC is reportedly looking into potential violations of federal securities law. Marathon’s Montana Mining Facility Under SEC
Crypto wallet MetaMask has started rolling out Ether (ETH) purchases via PayPal for users in the United States — one of Metamask’s biggest markets. The company claims to be the first Web3 wallet to offer ETH transactions via PayPal. Through the collaboration, American users can now choose PayPal as their payment method when buying ETH
Watchdog group Empower Oversight Whistleblowers & Research (EMPOWR) has filed suit against the United States Securities and Exchange Commission to force the agency to comply with a Freedom of Information Act (FOIA) request for access to communications between former SEC officials and their former and future employers. EMPOWR claimed in its suit that the former
The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry. In a report released on May 11, the GAO said “poor governance and unsatisfactory risk-management practices” led to the collapse of Signature
press release PRESS RELEASE. EMCO Network, a pioneering Defi project, is set to revolutionize the digital and financial landscapes by leveraging its unique blend of real-world experience in precious metals and artificial intelligence sectors. Addressing the challenges faced by users from low socio-economic backgrounds, EMCO Network aims to provide a novel platform to tap into
The meme-based token pepe (PEPE) has experienced a 14.9% decline against the U.S. dollar over the last 24 hours, continuing its downward trend from the last five days. Thus far, PEPE has seen a 60% drop in value from its all-time high on May 5. Rival Meme Tokens Challenge PEPE’s Dominance as Meme Token’s Value
Bitcoin (BTC) headed toward $27,000 after the May 11 Wall Street open as bulls failed to show strength. BTC price “rolls over” after brief recovery Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked a further loss of support. After a modest recovery from local lows seen the day prior, the pair
Blockchain analysis has been key in helping the United States Internal Revenue Service (IRS) seize an estimated $10 billion worth of cryptocurrency since it began investigating a broad body of crimes involving digital assets. This was a key point raised by IRS Criminal Investigations (IRS-CI) Chief Jim Lee in a wide-ranging, exclusive interview with Cointelegraph