Day: May 11, 2022

FTX US applies for trust charter in New York

Crypto exchange FTX US has applied for a trust charter with the New York Department of Financial Services, or NYDFS, to operate in the state.  In a Wednesday announcement, FTX US said it had applied to form a limited purpose trust company with New York’s financial services regulator in an effort to offer its products and services to local users. Pending regulatory review and approval, the licensed trust will be run by Fidelity Investments veteran Marissa MacDonald, who will assume the role of chief compliance officer. .@FTX_Official is excited to…

Biggest Movers:  SOL, NEAR, and AVAX Drop More Than 20% Lower on Wednesday – Market Updates Bitcoin News

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Solana, NEAR and AVAX were all trading over 20% lower on Wednesday, as global crypto markets continued to fall on hump-day. The cryptocurrency market cap is currently down 6.35%, as traders continued to digest the recent crash in the price of LUNA and UST. Solana (SOL) Solana was down by over 20% during Wednesday’s trading session, as the bear market caused by the crash in LUNA continued to send shock waves through the markets. After trading at a peak of $70.90 on Tuesday, SOL/USD dropped to a low of $49.69…

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Bitcoin Miner Argo Blockchain ‘Leans Toward’ Designing Custom Miners With Intel Chips

There are two options as to how bitcoin miners can operationalize Intel’s chips, Wall said. The first is to “get the chips” and then “work with your own third-party manufacturer to design and build a machine to your liking,” he said. The second is to work with manufacturers recommended by Intel to build the bitcoin mining rigs, he said. Source ArgoBitcoinBlockchainchipsCustomDesigningIntelleansMinerMiners CryptoX Portal

UST Meltdown Hasn't Spurred US Financial Stability Council Meeting: Sources

As one of crypto world’s major stablecoins – TerraUSD (UST) – slid toward disaster this week, it hasn’t triggered any meetings of U.S. government officials. Despite the recent federal stance that stablecoins could pose a rising threat to the U.S. financial system, the Financial Stability Oversight Council (FSOC) hasn’t gathered to weigh the potential hazards from UST, according to two people with knowledge of the situation. Source

Nubank, Brazil’s Largest Digital Bank, Launches Bitcoin and Ether Trading

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Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions – Defi Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

This week’s whipsaw market movements test NFT traders’ resolve — What’s next?

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It goes without question that there has been an influx of excited investors piling into Web3 and this is despite the decrease in total volume sales in the last seven days. Since the start of May, the total market capitalization for nonfungible tokens (NFTs) rose to over $19.44 billion with the total volume exceeding $1.3 billion in the last seven days.  7-day NFT market capitalization / volume. Source: NFTgo.io Although volumes are lower than usual, spectators are quick to wonder whether the projects launching are delivering workable products given the…