Day: April 23, 2023

Value Locked in Defi Descends Below $50B Range 9 Days After 2023 High   – Defi Bitcoin News

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The total value locked in decentralized finance (defi) has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi protocol by TVL size, Lido, losing 8.25% over the past week. 18 of the Top Defi Protocols Recorded Weekly Losses Crypto asset markets have experienced volatility in the past seven days, and on Sunday, April 23, 2023, the total…

EU approves MiCA, US crypto firms consider relocating amid regulatory uncertainty

This week, the crypto industry was largely dominated by regulatory developments. Industry leaders continued to express concerns about the regulatory climate in the United States, with some firms contemplating migrating in response to the Securities and Exchange Commission’s (SEC)crackdown. In contrast, the European Union had more clarity, as the parliament approved proposals in the Markets in Crypto Assets (MiCA) bill.  The SEC sustains regulatory efforts The SEC is unyielding in its efforts. On April 17, the agency declared its readiness to regulate decentralized finance (DeFi), which critics say would slow down or…

Dogecoin isn’t a security and is unstoppable says executive

In a recent interview with FOX Business, in honor of 4/20, dogecoin (DOGE) day, Marshall Hyner, who has worked with the Dogecoin Foundation since 2013; claims the meme coin cannot be classified as a security.  When asked why the United States Securities and Exchange Commission (SEC) couldn’t go after the meme coin, he said dogecoin is like bitcoin (BTC) and has an active community. Bitcoin is classified as a commodity by the top regulator, including the United States Commodity Futures Trading Commission (CFTC). “As per the Securities Exchange Act, a…

Non-Fungible Token Sales Spiked This Week Despite Crypto Market Volatility  – Markets and Prices Bitcoin News

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In the midst of a turbulent week for the crypto market, non-fungible token (NFT) sales have shown resilience, experiencing a surge of 7.74% in weekly sales, totaling $181.82 million. Data also reveals that there has been an increase of 41% in NFT buyers over the course of the week, surpassing the number of buyers recorded in the previous week. Despite Crypto Market Drop, NFT Sales Increase by Nearly 8% Of the total sales this week, the Ethereum (ETH) blockchain contributed a significant portion, amounting to $124.7 million, while $22.66 million…

Bitcoin’s privacy tool, CoinJoin, obfuscates over $6m in a single transfer

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied More people appear keen to use Bitcoin’s onchain privacy methods going by the size of a recent CoinJoin transfer. On April 20, a Bitcoin CoinJoin, comprising 351 inputs, fused 209.70283337 BTC, confirming it on-chain before redistributing it through 336 outputs.  The CoinJoin allowed over $6m of value, at the time, to be moved privately on the Bitcoin network, protecting the identities of the senders and receivers. Bitcoin is pseudonymous, meaning the identity of the sender and receiver can…

Jeffrey Tucker Says Dollar Will Be Dethroned, Russian Official Speaks on De-Dollarization, and a Look at Historic Fractional Reserve Banking in Italy — Week in Review – The Weekly Bitcoin News

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Bitcoin proponents eyeing fiat failures are in no shortage of news on the topic as of late, as multiple officials, economists, authors, and analysts from around the world have been weighing in on “de-dollarization” in a prolific fashion. Author and libertarian Jeffrey Tucker said recently: “The dollar’s just not going to be king,” and Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate.” In related news, the historic fall of Italy’s Medici bank could shed some light on movements being witnessed in the global banking…

New York regulator and Danish central bank governor discussed crypto regulation

New York State Department of Financial Services (NYDFS) superintendent, Adrienne Harris, met with a delegation led by Danmarks Nationalbank governor, Signe Krogstrup, earlier in the week. According to a tweet by the NYDFS, Adrienne Harris met with Danish central bank governor Signe Krogstrup to discuss global financial stability and ongoing coordination regarding virtual currency regulation. Not much was divulged about the content of the meeting, but it comes in the wake of the European Parliament passing the Markets in Cryptoassets (MiCA) regulations expected to govern cryptocurrencies and associated technologies and…

South African scammers behind Africrypt being investigated in Switzerland

Africrypt founders who defrauded South African retail investors 70,000 BTC in 2021 are being investigated by Swiss authorities for money laundering. The Africrypt scam A report on April 23 shows that Ameer and Raees Cajee, the brothers behind Africrypt, surfaced in Switzerland two years after scamming investors off their hard-earned coins. Africrypt launched in 2019, allowing investors to reap huge rewards from the then-rallying cryptocurrencies.  In 2021, at the height of the bitcoin (BTC) and crypto bull run, Africrypt claimed that their crypto management platform had been hacked and 70,000 BTC siphoned…

Bitcoin price crawls 2.5% off lows as weekly chart risks ‘bearish engulfing’

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Bitcoin (BTC) sought to snatch back lost ground on April 23 as ten-day lows remained in place. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $26,600 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose to circle $27,700 at the time of writing. Up around 2.5% from the lows set the day prior, the pair remained on traders’ radar as a potential short opportunity into the weekly close. “$26,600 is my target in my short position right now, and being the weekend it…

Ukraine to Adopt Europe’s Crypto Rules, Clarifies Taxation – Regulation Bitcoin News

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Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader in crypto adoption, Ukraine now plans to follow in the footsteps of the global leader in crypto regulation, the European Union. Statements in Kyiv have indicated that Ukrainian authorities are going to incorporate the new…