Day: December 20, 2021

Another Ethereum Education Initiative Canceled Over Iran Sanctions Fears

“At the time, no one expected that his trip to North Korea, just to give a lecture, was going to result in one of the most serious cases the industry has seen. It was a massive tragedy both for him personally and for Web 3 and, to Kyle’s point, we have a responsibility to ensure that donors or others who have generously supported us in the past (including the Ethereum Foundation, which has similar restrictions related to OFAC rules) were not put at risk,” Moore said. Source

Bitcoin’s Bearish Prices at the End of 2021 Not Much Different Than 8 Previous Year-End Cycles – Markets and Prices Bitcoin News

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The price of bitcoin is down more than 33% from the crypto asset’s all-time high captured about a month ago on November 10. A while back, people expected the price of bitcoin to be extremely bullish during the months of November and December, and many expected a $100K bitcoin price by the year’s end. However, during the last 13 years, more so than not, bitcoin prices are typically bearish in the last two months of the year. The End of 2021’s Bearish Market Sentiment Is a Common Occurrence, Looking at…

Two Reasons Why Bitcoin Could Kick Off 2022 On A Rally

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Bitcoin has been dancing on critical support over the weekend after it was rejected north of $48,000. The first crypto by market cap has experienced a persistent downwards trend and trades at $45,937 with 1.5% losses in the past day. Related Reading | TA: Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up BTC on a downtrend in the 4-hour chart. Source: BTCUSD Tradingview It seems any attempt from the bulls to take back control it’s faded due to aggressive selling pressure. Bitcoin could be negatively…

Chinese companies embark on a metaverse trademark race

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Even though the People’s Bank of China’s (PBOC) warning on metaverse and nonfungible tokens (NFTs) in November, more than a thousand Chinese companies have submitted thousands of metaverse-related trademark applications. In a summit back in November, Gou Wenjun, the PBOC’s AML and Analysis Center Director, warned about the dangers of digital assets. According to Gou, because virtual assets have no physical basis, they can be used for illegal financial activities. Gou cited activities such as “illegal fundraising, pyramid schemes and fraud.” However, ignoring the PBOC’s warnings, Chinese companies rushed to…

Digital Asset Funds Hit by Record $142M of Outflows

Following a 17-week run of inflows, outflows from cryptocurrency funds totaled $142 million during the seven days through Dec. 17, according to CoinShares, a digital-asset manager that compiles the industry data. The largest previous outflow on record was in early June, when net redemptions surged to $97 million. Source

The biggest winners and losers of the crypto industry in 2021

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The cryptocurrency and blockchain industry experienced explosive growth in 2021, particularly in its decentralized finance (DeFi) and nonfungible token (NFT) sectors.  The year was also marked by continued price volatility, baffling behavior from China, a grand experiment in Central America, escalating institutional interest, and the rise of some faster smart-contract networks — all of which is reflected in this year’s list of industry “winners and losers.” Winners in 2021 Kazakhstan When China effectively banned Bitcoin (BTC) mining operations in May 2021, Kazakhstan rushed in to fill the vacuum, pitching displaced…

Law Decoded: Making sense of mixed signals, Dec. 13–20

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This week in crypto regulation was marked by officials expressing contradictory views on how to approach digital assets. The crypto regulation regime in any jurisdiction is an equilibrium among multiple institutional, group and personal interests of actors who have a sway over financial and monetary policies. These interests never perfectly align, frequently resulting in contradictory signals coming out of various power centers. Speaking about systemic risks facing the world’s largest economy last week, the United States Federal Reserve chair said digital assets were not a financial stability concern. Two days…

Cash App Launches Bitcoin and Stock Gifting Feature For The Holidays

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Cash App has recently launched a new feature that would allow users to gift friends and family stock and bitcoin. The app has taken gifting to another level with this new feature that will literally allow users to gift crypto to their loved ones with this feature. The gifting feature works the same way sending money in the app does but this time around, users will be able to gift as little as $1 in stock or crypto. Gifting Bitcoin With Cash App The payments app had taken to Twitter…

SEC commissioner Elad Roisman will leave by end of January

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Elad Roisman, one of five members of the Securities and Exchange Commission’s board, has announced his intention to resign from the government agency. In a Monday announcement, Roisman said he had sent a letter to President Joe Biden informing him of his decision to leave the SEC by the end of January 2022. The SEC commissioner said he would continue working with his colleagues “to further our mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation” until his departure. Roisman was sworn into office in…

Former Acting Comptroller of the Currency joins Voyager Digital’s board

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Crypto trading platform Voyager Digital announced Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks has joined the firm’s board of directors. In a Monday announcement, Voyager chair Philip Eytan said Brooks had joined the board as an “independent, non-executive director,” citing the former comptroller’s experience at crypto companies and his leadership behind regulatory initiatives in the United States during his time at the OCC. Brooks served as acting Comptroller of the Currency until January, was Coinbase’s chief legal officer from 2018 to 2020 and held the position…