Paxos also noted in its press release that the Wells Notice specifically had to with BUSD and not any other part of its business. “This SEC Wells notice pertains only to BUSD. To be clear, there are unequivocally no other allegations against Paxos,” Paxos wrote. Source
For readers looking for unique, meaningful gifts for their valentine this Valentine’s Day, consider giving a cryptocurrency-related gift. Here are nine options: A cryptocurrency gift card Give your significant other the gift of choice by giving them a cryptocurrency gift card. They can use it to buy food or any digital asset they want, whether that’s Bitcoin (BTC), Ether (ETH) or a stablecoin like USD Coin (USDC). Virtual real estate Readers can buy virtual real estate in the metaverse, such as in Decentraland or The Sandbox, as a unique, romantic gift.…
“With this gift, my goal was to help bridge the worlds of on-chain art and contemporary art, which until now have separately existed,” said de’ Medici in a press release. “I’m thrilled to have these historically significant on-chain works contextualized beside many iconic works of art in LACMA’s collection.” Source
Bitcoin and major altcoins look vulnerable to a deeper correction after the crackdown on Paxos soured sentiment across the crypto market. Bitcoin (BTC) and select altcoins are threatening to deepen their correction after reports emerged that the United States Securities and Exchange Commission (SEC) issued a Wells Notice to Paxos, alleging that the dollar-pegged Binance USD (BUSD) stablecoin is an unregistered security. Separately, Paxos has been ordered by the New York Department of Financial Services (NYDFS) to halt the issuance of BUSD. After the crackdown on Kraken last week and…
Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury’s Office of Foreign Assets Control in May 2022, was “highly likely” relaunched as Sinbad, according to risk management firm Elliptic. In a Feb. 13 report, Elliptic said its analysis of Sinbad suggested that the crypto mixer was likely a rebrand of Blender as well as having “the same individual or group responsible for it.” According to the firm, Sinbad was behind laundering roughly $100 million in Bitcoin (BTC) for North Korea’s hacking group Lazarus. Elliptic said following…
CryptoX – Cryptocurrency Analysis and News Portal Bloomberg reported on Monday that Circle tipped off the New York Department of Financial Services (NYDFS) in the fall of 2022, complaining that blockchain data revealed Binance did not have enough reserves to back up the BUSD tokens it had issued through Paxos. Bloomberg cited a source familiar with the matter. Source The post Circle Sounded Alarm on Paxos, Told NYDFS Binance’s Stablecoin Wasn’t Fully Backed: Bloomberg appeared first on CryptoX. CryptoX Portal
Early statistics on ether (ETH), the second-biggest cryptocurrency by market cap, are harder to come by. However, data provided to CoinDesk by Crypto Asset Recovery shows that 7% of presale wallets have never had any crypto move – suggesting the ETH in those wallets have just been sitting there, untouched, ever since the Ethereum blockchain went live in 2015. That’s 621 of the 8,893 wallet addresses, or 521,574.608 ETH (roughly $875 million today). Source
In January, ApeCoin (APE) had an underwhelming performance compared to metaverse-based tokens like Decentraland (MANA) and The Sandbox (SAND). APE token gained 61% compared to the 90% and 150% respective gains seen in SAND and MANA. The subdued gains can be attributed to the hefty APE staking rewards that is likely creating some selling pressure. An upcoming unlock of around 9% of APE’s circulating supply in March 2023, along with not-so-impressive fundamentals, will add further headwinds for the token. The gains in APE will depend on the success of the…
Censorship resistance is the foundation of crypto, so for many cryptocurrency purists, the Nov. 23 announcement by ConsenSys, the New York-based company behind the leading Ethereum browser wallet, informing its 20 million MetaMask users that their IP and wallet addresses would be collected was simply a gross violation of the crypto spirit. In the weeks that followed, ConsenSys first reacted by saying the data collected would only be retained for seven days and then that it had updated the MetaMask features to allow users to opt out of Infura. However,…
“They are trying to do the right thing,” Warden said of the industry, pointing to Kraken and Coinbase as examples. “And with some better regulatory clarity upfront, they would have, in my view, probably done exactly what the SEC needed them to do,” Warden said. Source