At the federal level, the SEC has taken action against prominent industry players like centralized crypto exchanges, including Bittrex, Kraken and Gemini, crypto lender Genesis (which is owned by CoinDesk parent company Digital Currency Group) and individual actors such as Tron founder Justin Sun in recent months, deepening an existing digital asset market downturn. Source
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Description of simulation: Data is for the period Jan. 1, 2021-March 31, 2023. These indexes represent hypothetical backtests rebalanced monthly and do not consider transaction costs or whether assets are feasibly investable. The indexes exclude stablecoins, wrapped/pegged tokens, centralized exchange tokens and any assets that have not received a price in the last 365 days. Indexes only include proof-of-stake assets for which TVL data is readily available. “Market cap” refers to the circulating market cap of an asset. TVL includes all forms of how assets are used, or “locked” on…
The rule will allow the Financial Conduct Authority (FCA) to regulate crypto companies under the existing promotions law, and should help safeguard consumers from misleading crypto promotions, the Treasury, the government’s finance arm, tweeted in March. Source
Polygon climbed higher in today’s session, as cryptocurrency markets marginally rebounded on Wednesday. The global crypto market cap was up by nearly 1% earlier in the day, as Tuesday’s losses eased. Solana, on the other hand, remained lower, as it fell towards a key price floor. Polygon (MATIC) Polygon (MATIC) edged higher on Wednesday, as the token moved away from a recent point of support. Following a low at $0.954 on Tuesday, MATIC/USD jumped to a peak of $0.9925 earlier in today’s session. As a result of the move, polygon…
New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly $80 million, thus pushing it out of the top-100 top cryptocurrency index. Pepe price performance since market debut. Source: CoinGecko A mix of technical and fundamental indicators hint at further downside for PEPE price. Retail…
The reason it takes so long for validators to exit the chain is because that’s part of the project’s design. Staking is an important part of maintaining the security of the Ethereum blockchain, and if too many validators left the chain at once, the security of ensuring that transactions and blocks are added to the network could not be guaranteed. So the number of validators who can exit at any given time is subject to a hard limit; when withdrawal requests pile up, the exit queue backs up. Source link
Bitcoin (BTC) hit daily lows at the May 3 Wall Street open as markets counted down the hours to the Federal Reserve interest rate decision. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed set to hike into banking crisis Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $28,152 on Bitstamp, down 2.2% from the day’s highs. The pair continued volatility into the May 3 meeting of the Federal Open Market Committee (FOMC), the event which accompanies interest rate adjustments. As Cointelegraph reported, market sentiment has priced in a…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Former Coinbase Chief Executive Officer (CTO) Balaji Srinivasan canceled his $1 million bet on bitcoin (BTC) on May 2 after it failed to reach $1 million within 90 days. Balaji gave $1.5 million to three organizations as part of the settlement, including a charity organization, GiveDirectly. Balaji Srinivasan, the former CTO of Coinbase, has abandoned his wager that bitcoin will hit $1 million in the next 90 days. Balaji revealed on Twitter on May 2 that…
In summary, the market environment continues to be fluid, and there is no clear winner on either side. Ultimately, the coexistence of CBDCs, tokenized deposits and stablecoins hinges on striking the right balance to meet customers’ needs and ensuring trust in their redemption as payment transactions. This coexistence should be driven by application, with central banks continuing to dictate monetary policies and issue money while relying on private regulated entities, such as banks, for distribution to the public. Source