Month: May 2023

Bipartisan Securities Clarity Act re-introduced amid crypto regulatory challenges

Amid ongoing legal battles between the U.S. Securities and Exchange Commission (SEC) and several cryptocurrency organizations, a bipartisan effort led by majority whip Tom Emmer and representative Darren Soto has re-introduced the Securities Clarity Act. The act, initially presented in 2020, aims to demarcate a clear line between commodities and securities, thereby refining regulatory legislation concerning digital assets. Emmer asserts that the current law’s lack of distinction between an asset and the securities contract it may be part of, compromises American innovation. The new legislation, if enacted, will regard an…

Users will decide if they can still trust Ledger with their seed phrases

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Self-custody is important in crypto, and security is essential to self-custody. Ledger, a notable hardware wallet manufacturer, has built its reputation on the secure storage of users’ private keys. Hardware wallets create a secure offline environment for storing keys and using keys to execute transactions. The user’s private keys are generated and stored within the device and are supposed to never leave it. This “cold storage” provides an unrivaled level of security compared with “hot wallets” or online wallets. The problem is that lots of people lose their keys. Ledger…

Bug in Aave V2 Polygon causes some assets to become stuck in contracts

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A bug in an older version of crypto lending protocol Aave is blocking users from interacting with Wrapped Ether (WETH), Tether (USDT), Wrapped Bitcoin (WBTC) or Wrapped Matic (WMATIC) pools on Aave V2 Polygon, preventing assets from being withdrawn from them, according to a May 19 proposal that attempts to fix the bug through a patch. The proposal says that users are currently unable to “supply more of those assets, borrow, repay, or withdraw.” Although withdrawals are currently impossible, the team stated that funds are “perfectly safe,” as the bug can…

Injective (INJ) posts over 22% gains this week

Injective Protocol, a blockchain platform designed for decentralized applications (dApps), is attracting attention as its native injective (INJ) token is experiencing a price surge, rising by over 22% in the past week. The INJ token serves as both a utility and governance token, to empower users in shaping the platform’s future.  Injective (INJ) price action and market overview At the time of writing, the price of INJ stands at $7.07, representing a 9.6% increase on the day. However, on the weekly timeframe, INJ is up by a decent 22.5%. With…

Blockchain technology platform Bakkt looks toward Europe after MiCA

The international regulatory environment for cryptocurrency is improving, and the company is eyeing a retail expansion on the continent, Bakkt chief product officer Dan O’Prey said. On the whole, O’Prey saw positive long-term trends. Speaking to Cointelegraph’s U.S. News Editor, Sam Bourgi, at Bitcoin 2023, O’Prey described Bakkt as prioritizing its role as a “B2B2C” company for the past two years. As such, it has seen “a significant portion of the major institutional interest” focused on Bitcoin (BTC), in spite of the aftermath of the collapse of cryptocurrency exchange FTX.…

Staked ETH crosses 20m mark one month after Shapella upgrade

Following the recent Shapella upgrade, the proof-of-stake blockchain has now enabled withdrawals for the first time, resulting in a surge of activity among ETH holders who are eagerly staking their tokens with network validators. As a result, deposit activity has reached its highest level since the implementation of the Shapella upgrade last month. Just a month after the successful implementation of Ethereum’s Shapella upgrade, the network has witnessed a remarkable milestone as the total volume of staked ETH has surged past 20 million. The Shapella upgrade, an important protocol enhancement,…

Tether, KriptonMarket to support USDT transactions at Argentina’s Central Market

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Argentinians can now purchase dairy produce with the USDT stablecoin at the Central Market of Buenos Aires — one of the largest movers of fruits and vegetables in Latin America. The move was enabled by a partnership between the stablecoin issuer Tether and on-/off-ramp platform KriptonMarket.  The collaboration will provide companies the ability to accept and pay bills with USDT, as well as pay a percentage of employee salaries with the stablecoin. The Central Market supplies over 12 million people per month and is home to over 500 wholesale companies,…

Ethereum users are increasingly demanding self-custody: Casa CTO

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The demand for Ethereum self-custody solutions is growing, according to Jameson Lopp, co-founder and chief technology officer of Bitcoin wallet provider Casa. In a conversation with Cointelegraph at Bitcoin 2023, Lopp stated that Casa has found it necessary to provide Ethereum support due to the increased number of Ethereum users seeking the service. Incidents like the collapse of FTX in 2022 have raised awareness of the need for a secure way to store Ethereum and Ethereum tokens such as stablecoins, Lopp said: “I’ve actually spoken to Casa clients who suffered…

Bitcoin production growth and capital strategy guiding Marathon Digital: CEO

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A combination of more hash rate coming online from mining plants and a price protection approach is shielding Bitcoin mining firm Marathon Digital Holdings through the bear market, CEO Fred Thiel told Cointelegraph.  In an exclusive interview during the 2023 Bitcoin Conference in Miami, Thiel disclosed the strategy behind Marathon’s figures in the first quarter of 2023, when the firm reduced its net loss from $12.9 million ($0.12 per share) from Q1 2022 to $7.2 million ($0.05 per share) this year. Marathon is offsetting lower Bitcoin (BTC) prices with production increases. It reported a quarterly…