Crypto exchange Okcoin has suspended the trading of two Citycoins, MiamiCoin and NYCCoin, as of March 16, citing limited liquidity as the reason for the decision. Source
Crypto Exchange OKCoin Suspends Trading of Miami and NYC CityCoins
Day: March 21, 2023
Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011 – Bitcoin News
Crystal Blockchain, a company that provides blockchain data and analytics, published a study covering security breaches, fraud, and scams related to cryptocurrency and decentralized finance (defi). According to the study, approximately $16.7 billion in crypto assets have been stolen since 2011. Last year, Crystal’s intelligence team documented 199 incidents resulting in the theft of $4.17 billion in crypto assets. So far this year, there have been 19 different incidents resulting in the theft of $136 million. Top Countries Targeted by Crypto-Related Incidents: United States Leads in Frequency, China Tops in…
Sushi sets up legal defense fund after SEC subpoenas head chef Jared Grey and DAO itself
Sushi DAO proposed the creation of a legal defense fund March 21 in response to the “recent” subpoena of Sushi head Jared Grey and the decentralized autonomous organization (DAO) itself by the United States Securities and Exchange Commission (SEC). The DAO’s proposal did not provide details about the SEC subpoena. It stated that it was cooperating with the SEC and, “We do not intend to comment publicly on ongoing investigations or other legal matters.” One community member commented: “How does ‘sushi’ even get subpoenad [sic]? The human I get, but…
Texas lawmaker introduces resolution to protect Bitcoin miners and HODLers
Cody Harris, a member of the Texas House of Representatives, has introduced a resolution aiming to have the legislature say the “Bitcoin economy is welcome” in the state. In a resolution released on March 21, Harris encourages Texas lawmakers to “express support for protecting individuals who code or develop on the Bitcoin network” as well as miners and Bitcoiners operating in the Lone Star State. The state representative added that Texas’ constitutional rights concerning “all unreasonable seizures or searches” should extend to attempts to go over residents’ digital asset holdings. “Individuals…
Bitcoin and the Liquidity Question: More Complex Than It Seems
Bitcoin and the Liquidity Question: More Complex Than It Seems Original
This Ukrainian Startup Is Looking to Automate Crypto Crime Reporting Using Smart Contracts, AI
In the future, HAPI is considering using AI to automate report approval, too, Letsyuk said: “We’re now feeding the reports we get to the [latest AI product by OpenAI] GPT-4 – it looks very raw at this point, but promising. Not trying to catch some hype here, but we believe that it can be helpful in the near future.” Source AutomateContractsCrimeCryptoReportingSmartStartupUkrainian CryptoX Portal
Coinbase Argues an Arbitration Case in U.S. Supreme Court as Crypto Makes Its Debut
In Tuesday’s case, Coinbase Inc. v. Bielski, customer Abraham Bielski had initially accused Coinbase of lax protections when a scammer stole $31,000 from his account. A court found that he could go ahead and pursue that complaint in the courts, which Coinbase appealed. When the matter kept moving in court, the company argued its appeal should have stopped it. Source ArbitrationArguesCaseCoinbaseCourtCryptoDebutSupremeU.S CryptoX Portal
Bitcoin holds $28K due to spot buying, but institutional investors are still selling
Bitcoin’s (BTC) price broke above the February 2023 highs of $25,200 after U.S. inflation data was in consensus with the market expectation. The potential fallout of the global banking system further promoted Bitcoin investment as a non-correlated global hedging instrument similar to gold in March. The correlation between gold and BTC has been rising since the start of the month. Correlation coefficient between BTC and gold. Source: TradingView However, institutions have become net sellers of Bitcoin in 2023, which raises some red flags. Bitcoin whales, holding between 10 and 10,000…
Ethereum jumps while bitcoin maintains its pace
The price of ethereum (ETH) has increased tremendously, from $1,760 to $1,820 as of March 21, as bitcoin (BTC) remains steady after a surge in the last few days. Ethereum surged to $1,820 and then slightly corrected. Bitcoin maintained its new high of $28,000 after it went bullish. Ethereum to USD price chart | Source: CoinMarketCap Ether’s value against bitcoin had decreased since March 12, when the TradFi scene started facing a crisis. Any specific event has not triggered the sudden surge of ETH. The ratio rose from 0.072 bitcoin…
Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply – Regulation Bitcoin News
The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers From Misleading Crypto Advertisements Belgium’s Financial Services and Markets Authority (FSMA) has been granted powers to strictly regulate crypto-themed advertising. The new rules, which will be applied in less than two months, are meant to ensure that the risks linked to virtual currencies are “sufficiently…