Day: January 28, 2023

White House Publishes ‘Roadmap’ to Mitigate Cryptocurrency Risks – Regulation Bitcoin News

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The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks’ The White House published a blog post titled “The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks” Friday under the National Economic Council (NEC), an Executive Office of the President (EOP) established to advise the…

New York Considers Bill to Establish Cryptocurrency as a Form of Payment for State Agencies – Regulation Bitcoin News

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A bill has been introduced in the U.S. state of New York to allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as “a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,” and more. Bill to Allow State Agencies to Accept Crypto Payments New York State Assembly member Clyde Vanel introduced a bill Thursday that “establishes cryptocurrencies as a form of payment for state agencies,” according to the bill’s description on the New…

FTX creditors list, BlockFi $1.2B exposure and new Celsius token…

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Top Stories This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a wide range of global companies. Among the potential creditors are airlines, hotels, charities, banks, venture capital companies, media outlets and crypto companies, along with United States and international government agencies. According to another headline regarding the FTX scandal, U.S. federal prosecutors allege that Sam Bankman-Fried invested $400 million in the venture capital firm Modulo Capital with…

Stablecoin Economy Sheds Another $3 Billion in 44 Days – Altcoins Bitcoin News

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The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%. $3 Billion in Dollar-Pegged Tokens Erased in 44 Days as Stablecoin Swaps Represent Nearly 80% of Global Crypto Trade Volume The overall value of the top stablecoins…

Core Scientific files motion to sell over $6M in Bitmain coupons

Bankrupt Bitcoin (BTC) mining firm Core Scientific filed on Jan. 25 an emergency motion seeking to sell Bitmain coupons worth $6.6 million, according to court records. As per the filing, some conditions applied to the coupons make them useless for Core Scientific’s business. Specifically, the coupons can “only be used to pay 30% of any new order of S19 Miners from Bitmain, and cannot be exchanged with Bitmain for cash.” Additionally, the coupons are limited to S19 models, which provides a lower hash rate output compared to Bitmain’s recent models.…

US Federal Reserve Board Issues Policy Statement That Limits Banks’ Crypto Related Activities – Regulation Bitcoin News

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The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services. Limiting Regulatory Arbitrage The United States Federal Reserve Board has issued a new policy statement which says that both insured and uninsured banks under its supervision will be subjected to the “same limitations on activities, including novel banking activities,…

FTX Co-Founder Sam Bankman-Fried Seeks Removal of Bail Restrictions on Crypto Asset Transfers – Bitcoin News

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Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking access to crypto assets associated with FTX and Alameda Research, according to a letter written by his attorney, Mark Cohen. Cohen insists that the existing bail conditions “related to crypto asset transfers should be removed.” Bankman-Fried’s Legal Team Argues for Removal of 2 Bail Conditions In a letter to the Southern District of New York (SDNY) judge Lewis Kaplan, Sam Bankman-Fried’s attorney, Mark Cohen, explains that his team believes Bankman-Fried’s current bail conditions are unfair and should be removed. Bankman-Fried was…

Sam Bankman-Fried seeks to access FTX funds

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Sam Bankman-Fried’s legal team is seeking to remove a bail condition that prevented him from accessing FTX’s funds, according to court filings from Jan. 28. A letter from Bankman-Fried’s lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized transactions. FTX and FTX US have sought over $659 million in unauthorized transfers amid the collapse of the cryptocurrency exchange in November 2022, according to Nansen data reported by Cointelegraph.…

Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit – Altcoins Bitcoin News

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The blockchain network Litecoin’s computational power reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 terahash per second (TH/s). In addition, Litecoin’s difficulty also reached an all-time high this week, hitting 23,505,031 the following day. Litecoin’s Computational Power Climbs 38% in 30 Days A significant amount of hashrate has been dedicated to the Litecoin (LTC) network over the last 30 days as the blockchain’s computational power climbed 38% higher from 576 terahash per second (TH/s) on Dec. 28, 2022, to the all-time high…

DOGE up to 6-Week High, as AVAX Jumps 13% on Saturday – Market Updates Bitcoin News

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Dogecoin rose to a six-week high on Saturday, as prices rose above a key resistance level to start the weekend. The meme coin climbed to its strongest point since December, as the global crypto market cap was mostly in the green in today’s session. Avalanche also surged today, hitting its strongest point since August. Dogecoin (DOGE) Dogecoin (DOGE) was one of Saturday’s most notable movers, as prices rose to their highest point in six weeks. Following a low of $0.08507 on Friday, DOGE/USD rallied to an intraday peak of $0.09297…