Traders are closely watching the pace of inflation, which remains elevated, but has been slowing for several months. While a continued slowdown could give the U.S. Federal Reserve the space to perhaps pause its rate hike cycle, this morning’s report suggests more work needs to be done. Source
Bitcoin rebounded in Tuesday’s session, as markets prepared for this afternoon’s U.S. inflation report. It is expected that the annual rate of inflation in the United States dropped to 6.2% in January, down 0.3% from the month prior. Ethereum also rallied, climbing back above $1,500. Bitcoin Bitcoin (BTC) rebounded from recent losses in today’s session, as prices moved closer to the $22,000 level. BTC/USD hit an intraday high of $21,849.01 earlier in the day, which comes after falling to a low of $21,460.09 on Monday. Today’s action saw bitcoin snap…
The rule change would make it harder for crypto firms to become “qualified custodians,” according to the report. Source
The collapse of a number centralized platforms in recent months has highlighted the need for risk controls and keeping close tabs on collateral. Elwood’s new offering includes live position and exposure tracking, scenario analysis and collateral monitoring – in other words, said the company, the type of services that will reassure institutional investors in the crypto space. Source CryptoElwoodExpandsInstitutionalOfferingsPlatformTechnologiesTrading CryptoX Portal
LQTY, the native token of censorship-resistant decentralized stablecoin lender Liquidity, surged Monday after the NYDFS ordered Paxos to stop minting BUSD. The token rose 45% to a six-month high of $1.07, registering its biggest single-day percentage gain in at least a year, per data from TradingView. The rally likely stemmed from the Paxos-BUSD drama that triggered fears of a regulatory crackdown on the broader centralized stablecoin ecosystem, with some wondering if Circle’s USDC might be next. If so, the case for decentralized and censorship-resistant stablecoins like Liquity’s LUSD becomes clearer.…
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The move toward tether might be a surprise because the biggest centralized stablecoin is, perhaps, the most controversial, considering it is unregulated and the lingering lack of transparency about its reserves. On Friday, a New York Judge rejected an attempt by iFinex, cryptocurrency exchange Bitfinex and stablecoin issuer Tether, to block CoinDesk’s request for information about the financial reserves backing the USDT token. Source
“Warning letters were issued requesting the operators cease and desist using the machines and that any breach of regulations would result in an investigation under money-laundering regulations,” said Detective Sergeant Lindsey Brants of West Yorkshire Police. Source
Perlman started in the role at Binance in January, having spent two and a half years as COO of Gemini and previously one year as CCO. Source
A similar burn was earlier conducted by Floki DAO, a Shiba Inu-themed crypto project, earlier in February, as CoinDesk reported. Floki burned over $100 million worth of its token and completely dissolved its BNB Chain to Ethereum bridge as part of a broader move towards positioning itself as a serious decentralized finance (DeFi) project. Source