The network’s native token, Hedera (HBAR), fell 7% to roughly $.055 on news of the irregularities. Source
Hedera Turns off Services After 'Network Irregularities'
Day: March 9, 2023
Silvergate Bank 'Had to Be Perfect' but Now Pays a Heavy Price: Strategist
But because they weren’t, the industry now is likely to have a difficult time attracting traditional firms into the crypto banking industry, Jim Bianco, president of Bianco Research LLC, says. Source
Investors might have avoided FTX if the SEC had addressed Bitcoin ETFs, says BitGo CEO
The collapse of crypto exchange FTX and other bearish events in the space were at the center of discussions among lawmakers and witnesses at the inaugural hearing of the United States House Committee on Financial Services’ Subcommittee on Digital Assets, Financial Technology and Inclusion. Addressing lawmakers at the March 9 hearing, BitGo co-founder and CEO Mike Belshe criticized the U.S. Securities and Exchange Commission, or SEC, for enforcement actions against crypto firms “trying to do it right” — i.e. communicating with regulators and pursuing a path to operate in the…
Bitcoin miner reserves drops, bearish signs emerge
The quantity of Bitcoin (BTC) held in reserve by mining companies has reached lows last seen in October 2022. Miner reserves important in bitcoin market According to on-chain analytics company CryptoQuant, bitcoin miners only had 1.83 million BTC in their wallets as of March 9, dipping below the previous low of 1.91 million BTC recorded on Oct. 12, 2022. CryptoQuant employs a machine learning (ML) technique to detect miner wallet addresses and track their holdings. It includes wallets associated with miners or mining pools that amass BTC but do not…
NY AG sues KuCoin for selling securities and commodities without registration
New York state Attorney General Letitia James announced that she has filed suit against cryptocurrency exchange KuCoin after she was able to buy and sell crypto on the exchange, which is not registered in New York. “This action is one of the first times a regulator is claiming in court that ETH, one of the largest cryptocurrencies available, is a security,” according to her statement. The complaint, filed on March 9 in the Supreme Court of the State Of New York County of New York County, alleges that Seychelles-based…
New York Attorney General Files Lawsuit Against Kucoin and Declares Ethereum a Security – Bitcoin News
On March 9, 2023, New York attorney general Letitia James announced that her office had once again cracked down on crypto platforms by filing a lawsuit against the Seychelles-based crypto exchange Kucoin. Members of the Office of the Attorney General (OAG) were able to purchase crypto assets, despite the exchange not being registered in the state. In addition to the lawsuit, James and the OAG insist that the second-largest crypto asset by market capitalization, ethereum, is a security. Why Ethereum Is Considered a Security According to New York’s OAG Two…
Blockchain.com suspends its asset management subsidiary launched in April: Report
Cryptocurrency financial services company Blockchain.com will suspend operations of its asset management subsidiary, according to a Bloomberg report published March 9. The service had existed less than a year and appears to be the latest casualty of the crypto winter. The subsidiary, known as Blockchain.com Asset Management, is based in London. It applied to be removed from the U.K. companies register on March 5. The application itself is dated Feb. 15. The company had not yet filed its first annual account. Blockchain.com Asset Management was opened in April 2022 in…
Senior U.S. House Republican Says CBDCs Could Be ‘Weaponized’ as Political Tool
One of the top Republican lawmakers, Rep. Tom Emmer (R-Minn.), is campaigning to stop what he argues is the intent of President Joe Biden’s administration to set up a digital dollar that could be deployed to collect information about citizens’ financial lives. Source
Bitcoin price hammered, cryptocurrencies fall with tech liquidity concerns
Cryptocurrency prices are falling and there may be problems with market liquidity, especially for tech companies, and risk assets. Bitcoin and the crypto marker is under heavy selling pressure as the liquidity concerns that ended Silvergate bank may be spreading to the wider tech sector. Bitcoin price 7 days | Source: Coingecko Bitcoin has lost the $20,500 level and is falling fast. Over the past 24 hours, BTC has fallen by more than 7%. While the failure of Silvergate capital is likely weighing on the markets, there may be larger forces…
Voyager Continues Liquidating Crypto Assets for Circle’s USDC Stablecoin
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