Month: February 2023

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…

Brainard reportedly moving from the Fed to head National Economic Council

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United States Federal Reserve Board Vice Chair Lael Brainard has been chosen to be the director of the National Economic Council, making her President Joe Biden’s top economic adviser, according to media reports. In her new position, Brainard will oversee the implementation of the Biden administration’s multibillion-dollar economic agenda, which includes the Bipartisan Infrastructure Law and the CHIPS and Science Act. Brainard will replace Brian Deese, who is expected to leave the position before the end of the month. Her appointment comes as the Biden administration is facing challenging economic conditions,…

BNB Chain Aims to Double Transaction Speed, Targets ZK Tooling in 2023 Road Map

BNB Chain, the world’s largest smart-contract blockchain in terms of transaction volume and daily active users, plans to make what it called significant improvements in performance, scalability, security, decentralization and infrastructure this year, according to a technical road map shared with CryptoX. Source AimsBNBchainDoubleMapRoadSpeedTargetsToolingTransaction CryptoX Portal

NFT marketplace tokens soar in 2023, and Blur’s recent airdrop may extend the trend

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Cumulative nonfungible token (NFT) trading volume trended higher in January, and data from a recent Delphi Digital report showed monthly volumes reaching an eight-month high above $1 billion. The key factor that influenced NFT trading was the Blur token airdrop on Feb. 14. Since its launch last year in Q3 2022, Blur has rewarded users with “care packages,” which can be redeemed for tokens starting Feb. 14 at 12 pm ET. Many users have tried to farm these airdrops, increasing the platform’s trading volume. Since the start of 2023, Blur’s…

Czhang Lin Explains the Investment Strategy of LBank Labs in Web3 – Interview Bitcoin News

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LBank Labs is the venture capitalist and blockchain accelerator arm of global crypto exchange LBank. Spearheaded by investor Czhang Lin, LBank Labs is entering the market with a 100 million USDT fund to propel the Web3 industry. He recently joined the Bitcoin.com News Podcast to talk about their investment strategy and the blockchain market: Czhang Lin, LBank Labs Czhang Lin is a Taiwanese Canadian entrepreneur, investor, and crypto pioneer. In the last five years, Lin’s knowledge of digital investment strategies has contributed to over a hundred successful crypto and blockchain…

Dollar Stablecoins Are Great for Users and the US Government

Fiat-backed stablecoins are no different. Financially speaking, sending someone 100 USDC is no different than sending them $100 via Venmo. In both cases, one user is handing over a claim against a balance sheet – Circle’s versus PayPal’s – to another. From the issuers point of view, each dollar held by its user is just a liability, to be matched against equivalent assets. Source

Another ‘strong’ crypto bull run may lie ahead, thinks market analyst Filbfilb

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Cointelegraph’s Crypto Trading Secrets podcast has released its fifth episode, featuring Filbfilb, a cryptocurrency analyst and trader popular on Crypto Twitter. The crypto space has seen several bull and bear markets since the industry began with the launch of Bitcoin (BTC) in 2009. Each overarching crypto bull and bear market has primarily hinged on the price action and market cycles of Bitcoin, which makes sense, given that BTC is the largest, most established crypto asset. Filbfilb thinks the crypto industry may have another sizable bull market left, according to his…

What Happens When the Bitcoin Blockchain Produces an Empty Block

Bitcoin (BTC) is a digital currency that is renowned for its durability, security, and dependability. A new block is added to the network on average every ten minutes, and the miner who successfully creates the block is rewarded with 6.25 Bitcoin, which is equivalent to almost $130,000. On the other hand, the Bitcoin blockchain is known to sometimes spring a surprise on both watchers and players. Nodes around the network confirmed the existence of a totally empty block at the height of 776,339 blocks. The fact that the block was…