Month: September 2022

Bitcoin Slumps Below $20,000. Market Fear Springs

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For the longest stretch of days since the cryptocurrency market was shaken by unrest in July, Bitcoin has dropped below US$20,000 for a sixth straight trading session. On Thursday, the value of the biggest cryptocurrency dropped as much as 3.1% to $19,577. Bitcoin In Free Fall The largest cryptocurrency by market capitalization has been in free fall for the previous ten days as concerns over Wednesdayโ€™s FOMC minutes drove its price below $20,000. Despite the recent decline, investors seem to be increasing their Bitcoin purchases, and certain key on-chain data…

CFTC and SEC open comments for proposal to amend crypto reporting rules for large hedge funds

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The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, have called for comments on a proposal which would require large advisers to certain hedge funds to report exposure to crypto. In a joint proposed rule published to the Federal Register on Sept. 1, the SEC and CFTC established a 40-day comment period for amendments to Form PF, the confidential reporting document for certain investment advisers to private funds of at least $500 million. The proposal suggested qualifying hedge funds report exposure to…

Bitfinex CTO Paolo Ardoino States Salvadoran Bitcoin Bonds to Be Further Delayed โ€“ Emerging Markets Bitcoin News

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The launch of El Salvadorโ€™s bitcoin bonds, issued to finance part of the construction of the Bitcoin City in the country, will be delayed again. In a recent interview Paolo Ardoino, CTO at Bitfinex, the exchange in which these bonds will be offered, stated that the law framework needed for the issuance of these digital securities is still not ready. El Salvador to Delay Bitcoin Bonds Launch The launch of the iconic bitcoin bonds of El Salvador, which will serve to fund the construction of the Bitcoin City…

The total crypto market cap continues to crumble as the dollar index hits a 20 year high

From a bearish perspective, thereโ€™s a fair probability that the crypto market entered a descending channel (or wedge) on Aug. 15 after it failed to break above the $1.2 trillion total market capitalization resistance. Even if the pattern isnโ€™t yet clearly distinguishable, the last couple of weeks have not been positive. Total crypto market cap, USD billion. Source: TradingView For example, the $940 billion total market cap seen on Aug. 29 was the lowest in 43 days. The worsening conditions have been accompanied by a steep correction in traditional markets,…

Second Round of Layoffs at Brazilian Crypto Unicorn 2TM

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Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits

CryptoX – Cryptocurrency Analysis and News Portal Last Friday, whistleblower site Crypto Leaks published a series of damning videos, accusing the lawyer of weaponizing class-action lawsuits to collect sensitive information on various crypto companies. The site also alleged Rocheโ€™s lawsuits purposely attacked competitors of the blockchain project Avalanche, which Roche allegedly received tokens from and has previously represented in legal matters. Original Source The post Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits appeared first on CryptoX. CryptoX Portal

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Crypto Developer Brothers Leave VC Firm After CoinDesk Exposรฉ

The Macalinao brothers built their reputation in the Solana blockchain community. In early 2021 they created a decentralized exchange for swapping stablecoins called Saber that at its zenith purported to represent $4.15 billion (nearly half) of the crypto value locked up on Solana. Part of the allure of Saber was the interlocking DeFi lego bricks that surrounded it: projects like Sunny, Quarry, Cashio, Goki, and Tribeca. Source