Day: March 22, 2023

SEC Informs Crypto Exchange Coinbase of Potential Securities Law Violations – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has sent Coinbase a “Wells notice” about potential violations of securities law. The Nasdaq-listed cryptocurrency exchange noted that, unlike what SEC Chairman Gary Gensler said, the securities regulator “will not let crypto companies ‘come in and register.’” Coinbase CEO Brian Armstrong explained: “A Wells notice typically precedes an enforcement action.” Coinbase Receives a ‘Wells Notice’ From SEC Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Wednesday that it has received a “Wells notice” from the U.S. Securities and Exchange Commission (SEC) “regarding an unspecified portion…

Bitcoin long-term holders keep growing as price rises

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Bitcoin’s (BTC) on-chain data has recently revealed a significant milestone in the history of cryptocurrency. Glassnode data shows that the amount of bitcoin supply last active over 10 years ago has reached an all-time high of 2,673,268 BTC. In addition, the percentage of the supply that has been inactive for at least five years has also reached an all-time high, currently sitting at 28.468%. This information is crucial for various reasons, as it highlights the long-term holding mentality among bitcoin investors and provides insights into the overall health of the…

Rapid Bank Runs Reveal Deposits Are Now Magic Internet Money, Too

One thing that has distinguished traditional banking from crypto, in the eyes of many financial experts, is stability. There’s a strong belief that most people who put money into an account at a prominent bank will generally leave it there, indefinitely – whether due to comfort, satisfaction, relationships, laziness, lots of things. Source BankDepositsInternetMagicMoneyRapidRevealRuns CryptoX Portal

How A 19-Year-Old Genius Created Ethereum

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The gangly 27-year old Ethereum founder has a vision for humanity’s future that goes far beyond making a quick buck on … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Coinbase could face SEC enforcement action for ‘potential violations of securities law’

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Crypto exchange Coinbase said it received a ‘Wells Notice’ from the United States Securities and Exchange Commission recommending the regulator take enforcement action. In a March 22 blog post, Coinbase said the “legal threat” could potentially target the exchange’s staking program Coinbase Earn, listed digital assets, its wallet, or Coinbase Prime services. A Wells Notice letter typically warns a company that the SEC may follow with an enforcement action, but Coinbase provided no details other than “possible violations of securities laws.” “We asked the SEC specifically to identify which assets…

Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies – Economics Bitcoin News

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As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam. Putin expressed that using national currencies for international trading “should be encouraged further.” Russia Expresses Support for Using Chinese Yuan in International Settlements President Vladimir Putin of Russia has made statements supporting substituting the U.S. dollar as a settlement currency for settling international payments. As part of the visit…

eToro raises $250M after terminating SPAC deal

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Trading platform eToro has secured $250 million in funding at a $3.5 billion valuation, the company announced on March 21. The Israel-based firm raised capital for the first time since 2018 after failing to go public last year through a special purpose acquisition company (SPAC) merger.  Participants in the round include ION Group, SoftBank Vision Fund 2, Velvet Sea Ventures and some existing investors. According to eToro, the funding stems from an Advance Investment Agreement (AIA) entered in early 2021 as part of its proposed SPAC transaction. The AIA is…

Xapo Bank to enable USDC deposits and withdrawals

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Bitcoin custodian and licensed private bank Xapo Bank has partnered with financial technology company Circle to integrate USD Coin (USDC) payment rails as an alternative to SWIFT. Payment rails refer to the infrastructure and technology used to facilitate the movement of funds between parties in a financial transaction. Payment rails come in many forms, including traditional bank wires, credit card networks, and blockchain-based platforms. We are pleased to be the first bank in the world to fully integrate with USDC, enabling our members to send and receive USDC from their US Dollar accounts,…

Kraken to Suspend ACH Deposits and Withdrawals Following Silvergate Shutdown

“As of March 27, 2023, Kraken clients will no longer be able to use ACH deposits and withdrawals through Silvergate,” the company told CryptoX in an email. “We are working to make ACH funding options available through alternative funding providers as soon as possible and will communicate details with clients as soon as we can.” Source ACHDepositsKrakenShutdownSilvergateSuspendWithdrawals CryptoX Portal