Month: April 2023

$1,505,416,204 in Bitcoin (BTC) Flows Into Binance Crypto Exchange in Just 30 Days: On-Chain Data

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Over $1.5 billion worth of Bitcoin (BTC) has flowed into the world’s largest crypto exchange platform by volume in the last 30 days. New on-chain data from market intelligence platform Coinglass reveals that Binance currently holds 588,129 Bitcoin at time of writing, 51,386 of which came in just this month. Coinglass further finds that 22,590 of the BTC came in during the last seven days while nearly 5,000 tokens came in during the last 24 hours. Other prominent crypto exchange platforms that saw significant BTC movement during the last month…

World’s Largest Regional Organization to Switch to Settlements in National Currencies – Finance Bitcoin News

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A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The Shanghai Cooperation Organization (SCO) is preparing to move away from the U.S. dollar and switch to settlements in the national currencies of its member states. In an interview with the Belarus 1 state TV channel,…

Crypto Industry Is ‘Absolutely’ at War Against Gensler, Warren, Blockchain Association CEO Smith Says

Smith, however, provided a glimmer of hope for the industry during the panel, saying that a pro-crypto “army,” including the Blockchain Association, are fighting “in Washington every day” for the industry. “There’s a reason that Elizabeth Warren has stalled her bill that’s because she lost co-sponsors,” Smith said. “And that was because of the lobbying effort and education effort that went on,” from the pro-crypto groups.” Source link

5 Consensus 2023 Takeaways

Members of our CoinDesk editorial team got together on Twitter Spaces today to assess the big picture at Consensus 2023 and share their takeaways on the critical issues that will shape how the industry continues to unfold. Source

Fed, NYDFS assess their supervisory performance after March’s big bank failures

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Bank regulators in the United States have turned from introspection to confession after the high-profile bank failures in March. The New York Department of Financial Services (NYDFS) published its internal review of Signature Bank supervision on April 28, the same day the U.S. Federal Reserve Board released its review of the handling of Silicon Valley Bank (SVB). The banks closed within days of each other, with California regulators shuttering SVB on March 10, and the NYDFS moving against Signature Bank on March 12. Crypto-friendly Silvergate Bank had preceded them, announcing…

DeFi Needs More Than ‘Synthetic High-Yield Products’: Dragonfly’s Haseeb Qureshi

Still, when it comes to understanding the current moment in crypto he’s more or less unmatched. Or, at the very least, he’s not afraid to be a little contrarian. At Consensus 2023, for instance, Qureshi argued that CertiK, an auditing firm with a less-than-stellar reputation, was making a mistake by offering to reimburse victims of Merlin, a decentralized finance (DeFi) protocol Certik had recently audited. “This is explicitly insurance,” Qureshi said, arguing that if this move is repeated it would push premiums for audits without necessarily improving their accuracy because…

‘Opportunism and Demagoguery’ Fuel the U.S. Regulatory Crackdown on Crypto, Steptoe Partner Jason Weinstein Says

U.S. regulators like the SEC and CFTC have always engaged in an “arms race” to rein in the cryptocurrency industry. However, the multi-billion-dollar collapse of crypto exchange FTX has triggered a particularly “tough” wave of crypto regulatory crackdowns, including those on prominent crypto exchanges like Kraken and Coinbase, Weinstein told a live audience in Austin, Texas.. Source

“Opportunism and Demagoguery” Fuels the U.S. Regulatory Crackdown, Steptoe Partner Says

CryptoX – Cryptocurrency Analysis and News Portal U.S. regulators like the SEC and CFTC have always engaged in an “arms race” to reign in the cryptocurrency industry. However, the multi-billion-dollar collapse of crypto exchange FTX has triggered a particularly “tough” wave of crypto regulatory crackdowns, including those on prominent crypto exchanges like Kraken and Coinbase, Weinstein told CoinDesk. Source The post “Opportunism and Demagoguery” Fuels the U.S. Regulatory Crackdown, Steptoe Partner Says appeared first on CryptoX. CryptoX Portal

Google bullish on blockchain, UK’s $125M AI pledge, Voyager and Binance

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At the intersection of tech and cryptocurrency news, the Google for Startups Cloud Program has expanded to include 11 blockchain firms. Together, the entities will provide grants, expertise and services to emerging Web3 entrepreneurs. Meanwhile, the United Kingdom government has allocated $125 million in funding for a task force aimed at accelerating the country’s artificial intelligence (AI) readiness. The task force will focus on ensuring sovereign capabilities, such as public services, and fostering the adoption of safe and reliable AI foundation models. In other headlines, troubled cryptocurrency exchange FTX is set…