Day: February 12, 2023

Paxos to face SEC lawsuit over Binance USD — Report

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The United States Securities and Exchange Commission (SEC) has reportedly told stablecoin issuer Paxos Trust Co. that it’s planning to sue the firm for violations of investor protection laws relating to Binance USD (BUSD).  According to a Feb. 12 report in The Wall Street Journal citing people familiar with the matter, the SEC issued a Wells Notice to Paxos — a letter the regulator uses to tell companies of planned enforcement action. The notice alleges that Binance USD is an unregistered security, according to the people. According to Investopedia, after…

Fed Governor Warns Crypto Prices Could Fall to Zero — Says ‘Don’t Expect Taxpayers to Socialize Your Losses’ – Markets and Prices Bitcoin News

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U.S. Federal Reserve Governor Christopher Waller has warned that crypto prices could fall to zero at some point. “Please don’t be surprised and don’t expect taxpayers to socialize your losses” when that happens, the Fed governor stressed. Crypto Prices Could Go to Zero, Fed Official Warns Federal Reserve Governor Christopher J. Waller warned about the danger of investing in cryptocurrency on Thursday at the Global Interdependence Center Conference on “digital money, decentralized finance, and the puzzle of crypto.” “To me, a crypto asset is nothing more than a speculative asset,…

Coinbase will ‘happily defend’ staking in U.S. courts, says CEO

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Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming it cannot be classified as a security, and threatening to bring the matter to the courts in the United States. Brian Armstrong, Coinbase CEO, posted on Twitter that the company will “defend this in court if needed.” The move follows the agreement reached by crypto exchange Kraken with the Securities and Exchange Commission (SEC) on Feb. 10 to stop offering staking services or programs to clients in the country. According to the SEC, Kraken failed “to register…

Block Sizes Exceeding 3 MB Now Common on Bitcoin Blockchain as Ordinal Inscription Demand Rises – Bitcoin News

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Since Luxor, a bitcoin mining pool, mined a record-setting 3.96 MB block (#774,628) on the Bitcoin blockchain, block sizes have been larger than they were prior to that block height in the past 12 days. Statistics show that blocks larger than 3 MB are now quite common, and demand for Ordinal inscriptions has risen as they have surpassed 65,000 this weekend. Sustained Use of Blocks Larger Than 3 MB Continues on the Bitcoin Blockchain Observers saw history made on Feb. 1, 2023, when Luxor mined the largest block in the…

MATIC, HBAR, LDO and BIT gather strength as Bitcoin price rebounds

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Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility.  Although the near term is uncertain, analysts at Delphi Digital expect the United States Federal Reserve to pivot to an accommodative policy later in the year and that could be favorable for risk assets. Crypto market data daily view. Source: Coin360 Another bullish projection came from…

Crypto bank Silvergate ranks as the second most-shorted stock on Wall Street

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Crypto bank Silvergate Capital Corp. stands in the second position as most-shorted stock in the United States, with over 72.5% of its shares shorted, according to the latest Short Interest Reporting from Feb. 9.  The Financial Industry Regulatory Authority (FINRA) collects and publishes twice a month short interest positions of all equity securities. A short position means investors and traders believe the price of a security, such as a stock, will decrease in value. A short seller profits from the price decline of a security. At the time of writing,…

Russia Releases Bitzlato Co-Founder Anton Shkurenko After Questioning – Exchanges Bitcoin News

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Russian authorities have released the recently arrested co-founder of crypto exchange Bitzlato, said to have processed illicit funds worth millions of U.S. dollars. Anton Shkurenko, who was questioned in Moscow, denies the French charges against him that became the reason for his brief detention. Shkurenko Says Potential Case Against Him in Russia Won’t Interfere With Bitzlato Relaunch Russian prosecutors have asked France to send materials from its investigation into the seized digital asset exchange Bitzlato in order to determine whether to initiate additional proceedings in Russia, the platform’s co-founder Anton…

Shopify Launches Blockchain Commerce Tools to Enhance User Experience

E-commerce giant Shopify, which is crypto-friendly, has released a suite of blockchain commerce tools with the intention of improving the customer experience of its Web3-focused businesses that are housed on the platform. Particularly noted are the improved functionality for connecting crypto wallets and the “tokengating” application programming interface (API) tools. The latter was previously exclusively accessible to a limited number of retailers until it entered early access beta access mode in June 2022. Through the use of tokengating, relevant Shopify merchants now have the ability to build up their businesses…

Deposit Coins May Be the Best Blockchain Option for Commercial Banking

JPMorgan Chase and Oliver Wyman, which is a corporation that specializes in consulting, worked together to do research on the potential applications of blockchain technology in commercial banking. The subsequent steps were for the two businesses to publish their findings in a report on February 9th, which was then made available to the entire public. On the other hand, the writers make it a point to underline the advantages given by deposit coins in terms of their dependability and stability. They say this as a point of differentiation between deposit…