Day: January 7, 2022

The SEC Files A Strike Against Ripple’s Defense. Could It Drown XRP?

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The U.S. Securities and Exchange Commission (SEC) made a surprise attack on the Ripple case by filing a letter of supplemental authority to strike Ripple’s “fair notice” defense. Simultaneously, the token XRP is down 2.33% in the last 24 hours to $0.7 following the market’s downtrend. The SEC’s Surprise Move As the popular SEC vs. Ripple case is expected to be resolved around April this year, the SEC has made a new move that left many wondering if previous expectations could change. The American regulator is using a winning move…

Illicit Crypto Addresses Received $14 Billion in 2021, Only 0.15% of Transaction Volume Associated With Crime – Regulation Bitcoin News

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According to the latest data from Chainalysis, the total cryptocurrency value received by illicit addresses grew to a new all-time high of $14 billion in 2021. Although the new all-time high is almost twice the $7.8 billion that was recorded in 2020, it represents just 0.15% of the 2021 cryptocurrency transaction volume. Percentage of Funds Sent to Illicit Addresses Falling The value of cryptocurrency-related crimes recorded in 2021 surged to a new all-time high of $14 billion, a figure that is almost double the $7.8 billion which was received by…

Crypto regulation concerns make decentralized stablecoins attractive to DeFi investors

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The threat of stablecoin regulation and USDT and USDC centralization are making decentralized stablecoins like MIM, FRAX and UST attractive to DeFi investors. Stablecoins have emerged as a foundational part of the cryptocurrency ecosystem over the past couple of years due to their ability to provide crypto traders with an offramp during times of volatility and their widespread integration with decentralized finance (DeFi). These are necessary for the health of the ecosystem as a whole.  Currently, Tether (USDT) and USD Coin (USDC) are the dominant stablecoins in the market, but…

PayPal Is Exploring Creating Its Own Stablecoin as Crypto Business Grows

PayPal (PYPL) is looking into launching its own stablecoin as the company grows its crypto business, a company spokesman confirmed to CoinDesk on Friday. Sources told CoinDesk in September that PayPal subsidiary Curv was actively working on developing a stablecoin. “We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators,” a PayPal spokesman told CoinDesk in an emailed statement. Bloomberg first reported the news after evidence of PayPal’s exploration into building its own stablecoin was discovered in the…

Game Giant Konami Joins NFT Race, To Launch With Castlevania Video Game Franchise

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Video Game Giant Konami is launching a NFT auction to commemorate the “Castlevania” franchise. The box will include 14 tokens, audio files, and poster art showing scenes from early Nintendo games. The auction will begin the next week, January 12, 2022. Konami To Launch With Castlevania Commemorative NFTs The Castlevania 35th Anniversary NFT collection online portal was unveiled by Konami on Thursday. The collection will be auctioned off on the NFT marketplace Opensea. The NFTs from Konami will pay tribute to the franchise, which began with the Nintendo Entertainment System…

Cardano Ecosystem Explodes, Why ADA Could Resume Bullish Trend

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Cardano (ADA) has followed the general trend in the market and records losses across the board. The seventh crypto by market cap trades at $1.22 with a 2.2% and 10% loss in the past 24 hours and 7 days, respectively. Related Reading | What’s Beef? Reviewing The Historic Battle Of Ethereum vs. Cardano ADA on a downtrend in the 4-hour chart. Source: ADAUSDT Tradingview However, Cardano continues to be one of the most active ecosystems in the crypto industry. This won it the title for most active project on GitHub…

President Biden sends CFTC nominations to Senate

The White House has officially submitted President Joe Biden’s nominations to fill two seats at the Commodity Futures Trading Commission with the upcoming departure of another commissioner. In a Friday announcement, the White House said it had sent Citi managing director Caroline Pham’s and Summer Mersinger’s names to the Senate for confirmation. Mersinger previously served as chief of staff to commissioner Dawn Stump — who is expected to leave the agency this year — as well as the director of the Office of Legislative and Intergovernmental Affairs. She and Pham…

Vitalik Buterin gives thumbs down to cross-chain applications

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In a Reddit post on Friday, Vitalik Buterin, the co-founder of Ethereum (ETH), outlined critical security concerns surrounding cross-chain bridges in the blockchain ecosystem. As told by Buterin, storing native assets directly-chain (Ethereum on Ethereum, Solana on Solana, etc.) provides a certain degree of immunity against 51% attacks. Even if hackers manage to censor or reverse transactions, they cannot propose blocks to take away one’s crypto. The rule also applies to the Ethereum application. For example, if hackers launch a 51% attack (by controlling 51% of all circulating ETH supply)…

Mozilla ‘Pauses the Ability to Donate Crypto’ After Complaints and ‘Environmental Impact’ Considerations – Bitcoin News

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On December 31, the software community founded in 1998, Mozilla, announced it was accepting crypto-asset donations via Bitpay. However, shortly after the announcement, a number of people complained about the decision the company made. A week later, Mozilla has announced it is backing away from digital currency acceptance for now and has “paused the ability to donate cryptocurrency.” Mozilla Revealed Crypto Acceptance Last Week and Quickly Backed Away After Backlash Last week, Mozilla, the current owners of the Gecko layout engine, the Thunderbird email client, and the Firefox web browser…

Internet Shut Down, Bitcoin Mining Offline as Kazakhstan’s Political Crisis Escalates

This episode is sponsored by Nexo, Abra and FTX US. Download the episode On today’s episode of “The Breakdown,” NLW provides a basic primer on the escalating political crisis in Kazakhstan. He covers: The country’s basic economic overview and modern political history. The fuel price increase that started protests on Sunday. How protests spread  throughout the week and became about a larger set of grievances. The country’s dramatic decision to shut down the internet. The implications for bitcoin mining Where things stand today. “The Breakdown ‘’ is written, produced by…