Month: April 2023

The Crypto Industry Also Needs to Fix Itself–CoinDesk

Choose the culprits: The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and their panoply of lawsuits, the U.S. Congress’ inability to pass any significant blockchain law, a lackluster Biden administration “Economic Report of the President” with 30 pages bashing the industry, the closure of two of the most crypto-friendly U.S. banks (Signature and Silicon Valley Bank), the Terra implosion and its ripple effects, the FTX failure and its ripple effects, the ongoing flurry of decentralized finance (DeFi) exploits in vulnerabilities, blockchain bridges failures, token prices tanking,…

Elizabeth Warren Explains Her ‘Anti-Crypto Army’ Stance; Waves of Democrats Oppose Her Bitcoin Criticism – Bitcoin News

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Elizabeth Warren, the Democratic senator from Massachusetts, has recently launched a political campaign against cryptocurrencies as she seeks a third term in office in 2024. In a recent interview on “Meet the Press Reports” with NBC’s Chuck Todd, Warren likened buying bitcoin to “buying air.” Despite her stated distrust of banks, Warren told the show host that as far as central bank digital currency (CBDC) is concerned, she thinks “it’s time for us to move in that direction.” Warren Compares Buying Bitcoin to ‘Buying Air,’ Says It’s Time to Move…

TikTok Boom Helps ByteDance Match Tencent’s $80B in Sales

ByteDance spectacular performance comes despite uncertain macro conditions and a major fall for tech companies in 2022. Last year in 2022, TikTok parent ByteDance reported a strong 30% surge in its revenue crossing $80 billion in sales and matching other tech giants like Tencent. ByteDance’s twin video platforms TikTok and Douyin witnessed a massive boom and user activity while pulling a large number of advertisers onto the platform. ByteDance Sales and Other Performance Parameters In a memo to investors, the TitTok parent announced that the company’s revenue has surged by…

Japan FSA flags Binance, Bybit, others for operating without registration

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In a warning letter released on Friday, Japan’s Financial Services Agency (FSA) said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration, violating the nation’s fund settlement laws. According to the warning letter, the FSA stated that the listed exchanges had breached Japan’s fund settlement regulations by conducting crypto asset exchange business without proper registration. The regulator clarified that the current list of unregistered traders may not accurately represent the current state of unregistered businesses.…

Astar Network to launch smart contracts that support two virtual machines

Multichain decentralized application (DApp) protocol Astar Network will launch the second iteration of its smart contracts that supports both Ethereum Virtual Machine (EVM) WebAssembly Virtual Machine (WASM VM) on its mainnet on April 6.  In an announcement sent to Cointelegraph, Astar Network founder Sota Watanabe explained that the new update would allow the creation of WASM or EVM projects within their network and allow the inception of new multichain apps. According to Watanabe, the new upgrade will let people connect their Astar project to any Polkadot or EVM-based ecosystems. The…

Are US-based crypto firms really being ‘choked’?

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An extended market price drawdown (crypto winter) throughout 2022 has tested the crypto industry’s mettle, and more recently, a crackdown by United States regulators on some prominent entities like Coinbase, Binance and Kraken has further shaken the sector. So maybe it’s only natural for the industry to employ colorful, vivid language to describe what’s been happening. There’s a notion making the rounds that the U.S. government is out to “un-bank” or “de-platform” the crypto sector. This process even has a name: “Operation Choke Point 2.0.” U.S. President Joe Biden’s administration…

BTC Consolidates Above $28,000 on Monday – Market Updates Bitcoin News

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Bitcoin started the week consolidating above the $28,000 level, as markets prepare for a big week of U.S. economic data. The headline will be this Friday’s nonfarm payrolls, which are expected to fall to 238,000 jobs. Ethereum remains above $1,800 as of writing. Bitcoin Bitcoin (BTC) started the week consolidating around the $28,000 level, as volatility in crypto markets remained high. Following a low of $27,607.67 earlier in today’s session, BTC/USD rose to a peak at $28,475.62 as the day progressed. The move saw bitcoin move closer to a recent…