Month: February 2023

BUSD Depegs From Rival Stablecoin Tether After New York Regulator Tells Paxos to Stop Minting New Tokens

“Essentially, by halting issuance of BUSD, there is no way for the stablecoin to grow. BUSD trading pairs will still be supported by Binance, but traders will gradually start to migrate to other stablecoins, which could be causing the discount on BUSD,” Kaiko’s research director, Clara Medalie, told CryptoX. Source BUSDdepegsMintingPaxosRegulatorRivalStablecoinStopTellsTetherTokensYork CryptoX Portal

India Having ‘Detailed Discussions’ With G20 Members on Crypto Regulation – Regulation Bitcoin News

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India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation of crypto assets” during her recent meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva. G20’s Crypto Regulatory Discussion Underway Indian Finance Minister Nirmala Sitharaman answered some questions regarding crypto mining and regulation on Monday in Lok Sabha, the lower house of India’s parliament. Noting that cryptocurrencies are largely unregulated…

First Mover Americas: Paxos Acts on Regulator Threat

CryptoX – Cryptocurrency Analysis and News Portal The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 13, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source The post First Mover Americas: Paxos Acts on Regulator Threat appeared first on CryptoX. CryptoX Portal

Bitcoin hits record 44M non-zero addresses, thanks to Ordinals: Glassnode

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The launch of Bitcoin nonfungible tokens (NFTs) — known as Ordinals — has tipped the number of non-zero Bitcoin addresses to a new all-time high of 44 million, according to crypto analytics platform Glassnode. In a Feb. 13 report from Glassnode, the firm explained that for the first time in Bitcoin’s 14-year history, a portion of network activity is being used for purposes other than peer-to-peer monetary Bitcoin (BTC)  transfers: “This is a new and unique moment in Bitcoin history, where an innovation is generating network activity without a classical…

CFTC and SEC cases against SBF deferred until after criminal trial

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A New York judge has granted a request from prosecutors to defer civil proceedings against Sam Bankman-Fried from the Commodities Futures Trading Commission and the Securities Exchange Commission until after the FTX founder’s criminal trial in October. U.S. District Judge of Manhattan Kevin Castel on Feb. 13 granted the motions to stay the civil proceedings “without prejudice,” meaning the cases will now be halted until after the Department of Justice’s criminal trial concludes. The motion was first submitted on Feb. 7 by Damian Williams, the U.S. Attorney for the Southern…

At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region – Mining Bitcoin News

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Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital Currencies Using Subsidized Electricity Power distributors in the Siberian Irkutsk Oblast have filed lawsuit number 1,000 against consumers illegally mining cryptocurrency in residential areas. In 600 of these, judges have decided that the so-called “gray”…

Iris Energy to nearly triple hashrate with estimated 44,000 new BTC miners

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Australia-based Bitcoin (BTC) mining company, Iris Energy, revealed it will nearly triple its mining capacity with the addition of thousands of mining rigs. On Feb. 13 the firm said it purchased an additional 4.4 Exa Hashes per second (EH/s) worth of Bitmain Antminer S19j Pro ASIC miners bringing its self-mining capacity to 5.5 EH/s from 2.0 EH/s. Based on the S19j Pro’s maximum hashrate of 100 Tera Hashes per second (TH/s), the purchase adds an estimated 44,000 miners to its fleet, according to Cointelegraph’s calculations. Daniel Roberts, Iris’ co-founder and…