Day: March 25, 2023

Arbitrum’s Governance Token ARB Ranks Within Top 40 Market Capitalizations Following Airdrop – Bitcoin News

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Following the Arbitrum token airdrop, ARB has become a top 40 cryptocurrency as it currently holds the 37th largest market valuation out of more than 23,000 listed digital currencies. Currently, there is a circulating supply of 1,275,000,000 ARB, and the Arbitrum Foundation’s DAO Treasury holds 3.52 million or 35.27% of the airdropped supply. Over the past day’s trading sessions, ARB has decreased by 9.8% against the U.S. dollar. Top Ten ARB Addresses Hold 94.41% of Current Circulating Supply According to statistics recorded on Saturday, March 25, 2023, Arbitrum’s native governance…

Owner of Major US Stock Exchange To Launch Crypto Custody Services by June: Report

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The parent company of a major US stock exchange is reportedly looking to launch crypto custody services by June. According to a new report by BNB Bloomberg, Nasdaq INC., the owner of the New York-based Nasdaq Stock Exchange, expects its crypto custody services to be available by the end of the second quarter. Ira Auerbach, head of Nasdaq Digital Assets, told Bloomberg in an interview that the firm is currently in the process of acquiring the regulatory consent and necessary infrastructure it needs to launch. Auerbach also says that offering…

Custodia Bank’s membership denied for ties with crypto markets, says US Fed

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The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank’s application for membership in January, including the bank’s involvement in the crypto space.  According to the report, the Fed’s board has raised “concerns about banks with business plans focused on a narrow sector of the economy”, with a high concentration of activities related to the crypto industry. The report notes: “Those concerns are further elevated with respect to Custodia because it is an uninsured depository institution seeking to focus almost exclusively…

Bitcoin Difficulty Increases for Third Time in Six Weeks, Miners Remain Undeterred With High Hashrate – Mining Bitcoin News

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On March 23, 2023, bitcoin experienced another difficulty increase, following two previous rises in the last month, jumping 7.56% higher. Currently, bitcoin miners have not been deterred by the increases, as the network hashrate has been coasting along at 346 exahash per second (EH/s). Bitcoin Hashrate Remains High Despite Recent 7.56% Difficulty Rise As of writing, there are more than 1,700 blocks left until the next difficulty retarget on April 5, 2023. Despite the difficulty increase on March 23 at block height 782,208, the hashrate remains high, and block intervals…

identity confirmed and presented in court

Do Kwon, the founder of the failed crypto network Terraform Labs, was arrested on Thursday, Mar. 23, after months of evading authorities and regulators. Kwon arrested, identity confirmed  The troubled Terra founder is responsible for over $40b in losses after the crash of two crypto assets, LUNA (now Luna Classic) and TerraUSD algorithmic stablecoin, UST.  The news about Do Kwon’s alleged arrest dawned on Mar. 24 after reports emerged that a man thought to be the Terra founder had been apprehended in Montenegro. The man was seemingly leaving the country, heading to Dubai with…

XRP Climbs 5%, as LTC Nears Multi-Week High on Saturday – Market Updates Bitcoin News

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The crypto asset xrp rose by as much as 5% on Saturday, following declines of a similar amount during yesterday’s session. This comes despite the global crypto market cap moving lower, falling by 0.51% at the time of writing. Litecoin was also higher to start the weekend. XRP, formerly ripple, was back in the green on Saturday, as the token rebounded from Friday’s losses. Following a low of $0.418, XRP/USD raced to an intraday high of $0.4501 earlier in today’s session. The move came as bullish momentum increased at the…

Coinbase CEO asks community to support pro-crypto politicians

Coinbase CEO, Brian Armstrong, has issued a call to action to the crypto community, asking it to support and vote for crypto-friendly politicians in the next United States elections. Armstrong’s clarion call The cryptocurrency industry is facing a lot of regulatory uncertainty in the United States, especially after the recent actions of the Securities and Exchange Commission (SEC) against Coinbase, one of the country’s largest crypto exchanges. This situation has prompted Armstrong to call for more political action from the crypto community, urging them to support pro-crypto candidates and lawmakers who can…

Nasdaq Ventures into Cryptocurrency Custody Services while Traditional Financial Institutions Fill the Crypto Void

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Nasdaq, a leading global securities marketplace, is reportedly preparing to launch its custody services for digital assets by the end of Q2 this year. As we received from reports, it is for the first time that the exchange group has ventured into the cryptocurrency industry. The New York Department of Financial Services (NYDFS) will oversee the new business for which Nasdaq has applied for a limited-purpose trust company charter. According to Ira Auerbach, Senior Vice President and head of Nasdaq Digital Assets, the group ensures all required regulatory clearances and…

Bitcoin liquidations vanish as trader hopes $30K will hit before dip

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Bitcoin (BTC) drifted lower on March 25 as eerily calm conditions saw liquidations evaporate. BTC/USD 1-hour candle chart (Binance). Source: TradingView Bitcoin in “slow chop” until Monday Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it focused on $27,500 at the time of writing. After losing $28,000 the day prior, weekend trading offered little by way of its usual volatility as traders hoped for a break before resumption of TradFi markets. “Looking like a slow chop around the CME close price so far,” Daan Crypto Trades wrote in…