Day: February 14, 2023

NFT Marketplace Blur Launches Native Token, BLUR Price Drops 85% in a Matter of Hours – Markets and Prices Bitcoin News

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The Blur non-fungible token (NFT) marketplace launched its native token this week, and users who were awarded token allotments received “care packages.” Blur tokens began trading at noon on Feb. 14, reaching a high of $5.02 per token. However, the coin has since dropped more than 85% against the U.S. dollar. BLUR Token Launch Records an 85% Drop on Its First Day of Trading On Tuesday, Feb. 14, 2023, which is Valentine’s Day, the NFT marketplace Blur announced the launch of its token and airdrop. Blur gave away “care packages”…

Coinbase Will ‘Happily’ Defend Crypto Exchange’s Staking Services in Court, Says CEO Brian Armstrong

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Coinbase CEO Brian Armstrong says that the staking services offered by the US crypto exchange are not securities. Hot on the heels of the U.S. Securities and Exchange Commission (SEC) shutting down the staking service of rival crypto exchange Kraken, Armstrong says that Coinbase will mount a legal defense of its staking service if the need arises. “Coinbase’s staking services are not securities. We will happily defend this in court if needed.” Last week, following the SEC’s actions against Kraken, Coinbase’s chief legal officer Paul Grewal argued that existing US…

Digital Asset Provider Raises $65M in Series B Led by Credit Suisse

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Taurus, a digital asset infrastructure provider for financial institutions in Europe, has raised $65 million in a Series B capital raise led by Credit Suisse. The funding round also saw participation from several other institutional investors, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis.  According to the announcement, the funds raised will be used by Taurus to bolster its growth strategy in three primary areas, which include; recruiting top engineering talent to continue developing its platform, expanding its sales and customer success organization to enhance…

Silvergate Bank Becomes Most Shorted Stock in US, but Sees Boost With Citadel Securities Stake – Bitcoin News

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Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after it was discovered that Citadel Securities holds a 5.5% stake in the bank, according to a Schedule 13G filing with the Securities and Exchange Commission (SEC). As Silvergate Shares Are the Most Shorted Stock on Wall Street, Citadel Securities Claims 5.5% Stake in the Crypto-Friendly Bank According to current market data, shares of the crypto…

US lawmakers and experts debate SEC’s role in crypto regulation

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The United States Securities and Exchange Commission and its chair Gary Gensler were the targets of many lawmakers and witnesses at a hearing exploring the crash of the crypto market. In a Feb. 14 hearing at the Senate Banking Committee titled ‘Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets’, ranking member Tim Scott said Gensler should appear before Congress before September to address additional enforcement actions in the crypto space, calling out the SEC chair for doing “rounds on the morning talk shows” rather than testifying. According…

Expect the SEC to use its Kraken playbook against staking protocols

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The United States Securities and Exchange Commission (SEC) settled with Kraken on Feb. 9 for an action taken against the exchange’s staking rewards program. Kraken paid a $30 million fine and agreed to halt the program. Set aside for a moment the irony that the SEC is going after a solvent firm in the crypto space with a decade-long reputation as a good actor. Kraken has been helping settle verified Bitcoin (BTC) claimants from the hacking of rival exchange Mt. Gox over a decade ago. It invented the use of…