Month: February 2023

We’re in Next Bull Market Cycle – Markets and Prices Bitcoin News

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Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull market cycle.” Dan Morehead, the firm’s founder and managing partner, noted: “Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.” Pantera Capital on the Next Bull Market Pantera Capital published its February Blockchain Letter last week. The letter, titled “The Seventh Bull Cycle,” is authored by founder and managing partner Dan Morehead and investment associates Ryan Barney and Sehaj Singh. Pantera…

Nexo shutters US Earn product a month after settling with regulators

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Cryptocurrency lending firm Nexo Capital is set to terminate its yield-bearing Earn Interest Product for its customers in the United States roughly a month after it agreed to pay $45 million in penalties to U.S. regulators. Nexo announced the termination in a Feb. 10 blog post saying the product would be stopped on Apr. 1. The program allowed users to earn daily compounding yields on certain cryptocurrencies by loaning them to Nexo. An update for our U.S. clients.https://t.co/wRiDOPKEqg — Nexo (@Nexo) February 11, 2023 Nexo pointed to its Jan. 19…

SEC to Sue Crypto Trust Co. Paxos Over Binance Stablecoin: WSJ

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Blockchain tech still far from hitting the esport big leagues, says investor

Small esports tournament organizers have started dabbling in blockchain tech to host tournaments and distribute prize pools. However, don’t expect to see it in the big leagues just yet, says an investor. Esports, or electronic sports, is a form of organized competition via video games. Players sometimes referred to as esports athletes usually compete for prize money either individually or as a team. Dave Harris, managing director of esports investment firm Guinevere Capital, told Cointelegraph that he has begun seeing blockchain being used in amateur gaming competitions. In his opinion,…

Paxos to face SEC lawsuit over Binance USD — Report

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The United States Securities and Exchange Commission (SEC) has reportedly told stablecoin issuer Paxos Trust Co. that it’s planning to sue the firm for violations of investor protection laws relating to Binance USD (BUSD).  According to a Feb. 12 report in The Wall Street Journal citing people familiar with the matter, the SEC issued a Wells Notice to Paxos — a letter the regulator uses to tell companies of planned enforcement action. The notice alleges that Binance USD is an unregistered security, according to the people. According to Investopedia, after…

Fed Governor Warns Crypto Prices Could Fall to Zero — Says ‘Don’t Expect Taxpayers to Socialize Your Losses’ – Markets and Prices Bitcoin News

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U.S. Federal Reserve Governor Christopher Waller has warned that crypto prices could fall to zero at some point. “Please don’t be surprised and don’t expect taxpayers to socialize your losses” when that happens, the Fed governor stressed. Crypto Prices Could Go to Zero, Fed Official Warns Federal Reserve Governor Christopher J. Waller warned about the danger of investing in cryptocurrency on Thursday at the Global Interdependence Center Conference on “digital money, decentralized finance, and the puzzle of crypto.” “To me, a crypto asset is nothing more than a speculative asset,…

Coinbase will ‘happily defend’ staking in U.S. courts, says CEO

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Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming it cannot be classified as a security, and threatening to bring the matter to the courts in the United States. Brian Armstrong, Coinbase CEO, posted on Twitter that the company will “defend this in court if needed.” The move follows the agreement reached by crypto exchange Kraken with the Securities and Exchange Commission (SEC) on Feb. 10 to stop offering staking services or programs to clients in the country. According to the SEC, Kraken failed “to register…

Block Sizes Exceeding 3 MB Now Common on Bitcoin Blockchain as Ordinal Inscription Demand Rises – Bitcoin News

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Since Luxor, a bitcoin mining pool, mined a record-setting 3.96 MB block (#774,628) on the Bitcoin blockchain, block sizes have been larger than they were prior to that block height in the past 12 days. Statistics show that blocks larger than 3 MB are now quite common, and demand for Ordinal inscriptions has risen as they have surpassed 65,000 this weekend. Sustained Use of Blocks Larger Than 3 MB Continues on the Bitcoin Blockchain Observers saw history made on Feb. 1, 2023, when Luxor mined the largest block in the…

MATIC, HBAR, LDO and BIT gather strength as Bitcoin price rebounds

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Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility.  Although the near term is uncertain, analysts at Delphi Digital expect the United States Federal Reserve to pivot to an accommodative policy later in the year and that could be favorable for risk assets. Crypto market data daily view. Source: Coin360 Another bullish projection came from…