Day: February 14, 2022

SEC hits BlockFi with a $100 million penalty, gives 60 days to comply with a 1940 law

On Feb. 14, the Securities and Exchange Commission, or SEC, announced actions against crypto lending company BlockFi over its failure to register high-yield interest accounts that the agency deems to be securities. New Jersey-based BlockFi will pay $50 million in settlement to the SEC and another $50 million to 32 U.S. states that brought similar charges. This marks some of the heaviest penalties ever imposed by a U.S. federal regulator on a cryptocurrency service provider. The firm also agreed to stop onboarding new customers to the unregistered service, BlockFi Interest…

Bitcoin Holders Brace For Storm, Will BTC Break Through $44K Barrier?

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Bitcoin has been moving sideways during the past week with a 0.7% profit as it trades at $42,709. The first crypto by market cap has held on to critical support as it was rejected at the mid area of its current levels. Related Reading | Ukrainian Defense Efforts Bolstered By Crypto Donations BTC with minor gains on the daily chart. Source: BTCUSD Tradingview Per a recent report from Bitbankโ€™s crypto analyst, Yuya Hasegawa Bitcoin has seen selling pressure triggered by the possibility of a shift in monetary policy from the…

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Bitcoin Hashrate Surges Tapping Lifetime High, Foundry Commands Top Mining Pool Rank for 30 Days โ€“ Mining Bitcoin News

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The processing power backing the Bitcoin network has tapped another all-time high (ATH) in 2022, reaching 246 exahash per second (EH/s) on February 12. After the network reached an ATH on January 15, a month later the hashrate increased by 12.43% โ€” this despite the networkโ€™s mining difficulty coasting along at record highs as well. Bitcoin Networkโ€™s Hashrate Climbs to New Highs Bitcoin mining participants tapped a record high on Saturday, February 12, 2022, as the hashrate reached an ATH of 246.80 EH/s. So far, the hashrate has seen three…

Hereโ€™s the outlook for bitcoin as geopolitical tensions heat up and interest rates rise

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Artur Widak | NurPhoto | Getty Images The bitcoin narrative could be tested this week as investors monitor tense developments between Ukraine and Russia and weigh the possibility of the Federal Reserve hiking interest rates by 50 basis points, or 0.5 percentage point, in March. The largest cryptocurrency by market capital currency has long been regarded by early investors and enthusiasts as a safe haven asset โ€“ one that ideally could offset risk in investors’ portfolios and limit exposure to negative shocks. However, in recent months bitcoin has has been…

Bandanna Sporting Crypto Punk #5822 Sets New Record As It Sells For $23M

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A CryptoPunk NFT has just set the record for the highest-selling punk so far. The collection which is more than three years old had been in obscurity for the longest time but with the rise of NFT popularity, they have become one of the most valuable collections in the NFT space. In a recent sale, CryptoPunk #5822 has set the record for the high-selling punk after selling for $23 million. CryptoPunk #5822 Sells For 8,000 ETH The CryptoPunk #5822 which had sold for 8,000 ETH, more than $23 million had…

Animoca leads NFT3 raise, Arca launches NFT fund and Alexis Ohanian broadens crypto exposure

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Venture capital funding in the cryptocurrency market is showing no signs of slowing, as major investors continue to back promising startups in niche industries spanning the metaverse, nonfungible tokens (NFTs) and GameFi.ย  Cointelegraphโ€™s new series, VC Roundup, provides a rundown of some of the biggest funding stories of the past few weeks. To stay informed on the latest developments from the world of blockchain business, be sure to register for our Crypto Biz newsletter, which is delivered to your inbox every Thursday. Animoca Brands leads NFT3 raise Web3 identity network…

Why Investors Have Been Slow to Trust Security Tokens

The security token industry is moving fast to educate stakeholders about the benefits of investing in deals listed on the blockchain. But adoption has been slower than expected due to regulatory hurdles and low quality security issuance. Scaling fast is critical to uphold the promise of greater liquidity in the trading of security tokens. Source

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IMF Says Central Bank Digital Currencies Are The Future Of Money

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The International Monetary Fund (IMF) managing director has called for a โ€œ prudently designedโ€ central bank digital currency to rival private forms of crypto-assets and stablecoins. โ€œIf CBDCs are designed responsibly, they can potentially offer more resilience,โ€ said Kristalina Georgieva during an interview last week. However, she continued by acknowledging that while these types of currencies may have their benefits in certain circumstances, they come with risks. The future of money, cryptocurrency, and central bank digital currencies was the topic at hand for IMF Managing Director Kristalina Georgieva last week…