Ukraine has revealed for the first time how exactly crypto donations have been used to support its resistance against Russia’s invasion. Alex Bornyakov, Ukraine’s Deputy Minister in the Ministry of Digital Transformation and the de facto crypto spokesperson for the government, shared the details in a tweet on Friday. Source
Day: March 11, 2022
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Bank of Israel issues draft guidelines on cryptocurrency AML/CFT
On March 10, the Bank of Israel published draft regulation of anti-money-laundering and combatting the financing of terrorism (AML/CFT) risk management for the banks facilitating crypto-to-fiat transactions. The move hints at the Israeli government’s preparations to legalize and regulate the relationship between banks and virtual currency service providers (VASPs). The document cites the customers’ increased involvement with digital assets as the rationale for the new policy: “In view of the increase in customer activity in virtual currencies, and the resulting increase in customer requests to transfer money […] the Banking…
Demand for UST Keeps Rising, Luna Foundation Guard to Burn 4.2 Million LUNA From Treasury – Bitcoin News
The Luna Foundation Guard (LFG), a nonprofit organization, has announced new measures to keep the supply of UST, the flagship stablecoin of the Terra ecosystem, liquid in secondary markets. The protocol has already reached the max issuance of UST per day, but demand is strong enough that the foundation will have to burn more LUNA to guarantee the supply of UST in these markets. Luna Foundation Guard to Burn 4.2 Million LUNA for UST The Luna Foundation Guard, an organization dedicated to supporting projects from the Terra ecosystem,…
Fed’s Powell Set to Remove Punch Bowl That Lubricated Crypto Party
“Our assumption is that the updraft in commodity prices will diminish into mid-year, and base effects will finally allow an emerging downtrend in the year-over-year inflation metrics,” Englund told CoinDesk in an email. “This should diminish pressure on the Fed to address inflation, and should allow for quarter-point hikes at just every other meeting, leaving five hikes for 2022 overall (in March, May, June, September and December).” Source
Safeguarding Our Privacy in an Age of Transparency
Crypto wallets are the new Facebook profile pages. Is that a good thing? Source
SEC rejects spot Bitcoin ETF applications from NYDIG and Global X
The United States Securities and Exchange Commission, or SEC, has disapproved spot Bitcoin exchange-traded fund applications from the New York Digital Investment Group and fund manager Global X after deferring on a decision several times in the last year. According to two separate Thursday filings, the SEC rejected proposed rule changes from the Cboe BZX Exchange and New York Stock Exchange’s Arca to list and trade shares of the Global X Bitcoin Trust and New York Digital Investment Group’s Bitcoin exchange-traded fund, or ETF, respectively. The SEC said that NYSE…
Bitcoin Falls Below $40,000 Trimming The Gains From US Crypto Order
On Thursday, the cryptocurrency market experienced another roller-coaster day, with some coins declining. One such example is Bitcoin which fell 5.9% to $39,432 when writing these words. The bitcoin market is still bearish, with prices dipping below $40,000 today. This comes after a slew of positive news about US President Joe Biden’s executive order that will likely focus more on the crypto sector. The crypto markets were not looking very promising today, with Bitcoin declining heavily and many other coins dropping as well. For example, Ether, the second-largest cryptocurrency, fell…
NSFW.App Announces Brand Overhaul To Give All NSFW Content A Safe And Censorship-Resistant Home
Adult content creation is a booming business. Although big studios dominate the landscape, individual creators have found a home on OnlyFans and similar platforms. Unfortunately, those platforms can easily prevent creators from distributing their content, and they charge exuberant fees on top. Adult Content Remains Booming Business One cannot deny the appeal of platforms like OnlyFans. Content creators can custom-tailored content packages for their fans and explore revenue streams. Moreover, it enhances the interaction level between creator and fans, which would not be possible otherwise. However, the downside of such…
Hedge Fund Fir Tree Makes ‘Big Short’ Bet Against Tether: Bloomberg
The hedge fund started exploring the short last July, according to the report, and its bear thesis has to do with the $24 billion in commercial paper backing the token. Much of that debt is tied to Chinese real estate developers, at least some of which are struggling, believes Fir Tree. If the paper loses value, that would potentially lead to a big drop in Tether reserves, and the coin’s price. Source