“Stablecoins are the liquidity of the crypto ecosystem. The more liquidity, the more ability for investment and speculation,” Tom Dunleavy, macro analyst said in a note to CoinDesk. “The continued reduction, despite the growing number of applications, says to me we are still not out of the woods for this secular bear market.” Source
Last year, a group of CoinDesk reporters traveled to Seneca Lake to examine the effect Greenidge Generation – a resurrected power plant that now mines bitcoin – had on the surrounding communities. Though we expected to hear locals say they disliked the plant and its continued operation, we found the opposite. Original
Bitcoin was recently trading at about $26,440, off roughly 3% over the past 24 hours and near its lowest level since May 12 when the largest cryptocurrency by market capitalization dipped below $26,000. In this period, BTC has been slogging through low trading volume and volatility as markets wrestle with the prospect of a U.S. government unable to pay its debts and ongoing crypto regulatory and macroeconomic uncertainties. Until Wednesday, bitcoin had remained in a $26,500 to $27,500 range. Source
While that day-to-day lobbying work happens, though, millions of U.S. crypto users are eager to make sure Congress is hearing their view that “we want to keep it here and we want to have robust rules,” Quick said, which explains the efforts from business leaders to drum up grassroots campaigns. There’s room for both, she argued – the lobbyists’ usual interactions in Washington, plus whatever the industry leaders are hatching. Source
“Unfortunately, as we’ve worked with the Lido team to find a way forward to return the stolen funds they’ve disbursed, several personalities have made the argument Lido has no duty or authority to return them, essentially greenlighting the distribution of stolen funds to multiple Lido DAO participants,” tweeted Grey. Source
Fusion Digital Assets, TP ICAP’s crypto spot exchange for institutional investors initially targeted for mid-2021 launch, has finally gone live. The platform has successfully completed its first Bitcoin/US dollar trading pair transaction, the top interdealer broker said on Wednesday, noting that the trade was settled by one of its partners, Fidelity Digital Assets. The launch of the enterprise-grade trading venue comes six months after TP ICAP secured a UK license to operate the exchange. However, the financial market infrastructure and data solutions provider has been offering crypto derivatives services since…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In light of a modest 3% decline within the last 24 hours, cryptocurrency trader and analyst Ali Martinez has taken to Twitter to explain his belief that bitcoin’s price will likely continue its downward trend. Martinez notes that the leading cryptocurrency appears to be losing support from crucial levels, increasing the probability of a significant price correction. There is a significant demand barrier between $23,200 and $24,000, where 340,000 BTC was purchased by 850,000 investors, totaling…
To strengthen its anti-money laundering (AML) measures, Japan has decided to introduce stringent regulations on cryptocurrency transactions, according to local news outlet Kyodo News. The country’s cabinet recently approved adopting the “travel rule” set forth by the Financial Action Task Force (FATF), an international body responsible for combating money laundering and terrorist financing. The “travel rule” refers to guidelines to deter illicit activities such as money laundering and terrorist financing by transferring digital assets. Under this rule, crypto exchanges, wallet platforms, and other service providers will be required to obtain…
CryptoX – Cryptocurrency Analysis and News Portal The latest example comes from Ledger, the Paris-based crypto hardware wallet company, which, following a public-relations firestorm last week, announced Tuesday that it would delay plans to release a controversial new wallet-recovery feature called Ledger Recover. Source The post Ledger Recover Fiasco Exposes Gap Between Bitcoin’s Self-Custody Ideals and Technical Reality appeared first on CryptoX. CryptoX Portal
Strike, Coinbase and others have intimated they may leave the United States due to regulatory pressure. But those may be empty threats. Source