The firm said it is the first bank-owned custodian to offer staking services to institutional clients. Source
Zodia Custody to Offer Staking to Institutional Clients Through Blockdaemon
Day: June 6, 2023
Binance Lawsuit Triggers $700M in Withdrawals; Metaverse Tokens Named by SEC Lead Decline
The unprecedented withdrawals only reflect a small amount of Binance’s reserves, according to data from CryptoQuant. Source
Bitcoin drops to 3-month lows amid Binance drama
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US SEC sued Binance and its CEO Changpeng Zhao (CZ) for violating the securities law. Consequently, bitcoin (BTC) dropped by over 3% as the marketwide bearish FUD rose. Bitcoin has been tumbling since early May. With the current bearish sentiment, its price has fallen from the crucial $26,000 mark. BTC is down by 3.8% in the past 24 hours from the $27,000 mark and trading at around $25,780 at the time of writing. However, bitcoin’s…
Stolen crypto from Atomic Wallet traced to North Korean-linked Mixer
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Elliptic identifies the movement of illicit funds from the $35 million Atomic Wallet breach to Sinbad.io, a crypto mixer with ties to North Korea’s Lazarus Group. Blockchain compliance firm Elliptic has discovered that the funds stolen in the recent $35 million Atomic Wallet hack have been funneled to Sinbad.io, a cryptocurrency mixer linked to North Korea’s infamous Lazarus Group. The announcement came on June 5, and it was reported that Sinbad.io had previously laundered over $100…
AI should be regulated like medicine and nuclear power: UK minister
Developers working on artificial intelligence should be licensed and regulated similarly to the pharmaceutical, medical, or nuclear industries, according to a representative for Britain’s opposing political party. Lucy Powell, a politician and digital spokesperson for the United Kingdom’s Labour Party told The Guardian on June 5 that firms like OpenAI or Google which have created AI models should “have to have a license in order to build these models,” adding: “My real point of concern is the lack of any regulation of the large language models that can then be…
US lawmakers blame crypto firms for ‘tax gap’ in letter to Treasury
Two members of the United States Congress — Brad Sherman and Stephen Lynch — have penned a letter to the heads of the Treasury and the Internal Revenue Service, demanding the implementation of tax regulations for the crypto industry. In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, the U.S. representatives raised concerns about the tax compliance practices in crypto, stating: “For years now, that (crypto) industry has been a major source of tax evasion and a significant part of the nation’s (United States) tax…
Atomic Wallet hacker sends crypto to mixer used by Lazarus Group: Elliptic
Illicit funds gained from the $35 million Atomic Wallet hack have been moving to a crypto mixer known to be favored by North Korea’s most notorious cyber-hacking group. On June 5, blockchain compliance analytics firm Elliptic reported that its Investigations Team has traced funds from the $35 million Atomic Wallet hack to crypto mixer Sinbad.io. It claims the mixing service was previously used to launder more than $100 million in crypto assets stolen by North Korea’s Lazarus Group. Elliptic did not specify how much was sent to the mixer but…
Cboe Digital receives nod for margin trades on its crypto futures exchange
Cboe Digital, a major options exchange in the United States, has had its application to offer margined futures contracts for Bitcoin (BTC) and Ether (ETH) approved by the United States commodities regulator. While Cboe has offered crypto futures contracts since December 2017, margin trades were not available to users. With the new approval, users will be able to trade Bitcoin (BTC) and Ether (ETH) futures with a fraction of what they initially had to put upfront. The approval has also been seen as a positive step for Cboe as it…
Coinbase aims at institutional investors with larger BTC and ETH futures
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase derivatives exchange is set to launch its institutional-sized bitcoin (BTC) and ether (ETH) futures contracts. The company says the financial instruments will come with enhanced risk management features and lower fees. Exposing institutional investors to advanced crypto derivatives Coinbase derivatives exchange, a CFTC-regulated derivatives platform, has announced the introduction of institutional-sized futures contracts for bitcoin (BTI) and ether (ETI) which will go live on June 5. With a surge in institutional interest and the demand…
Crypto sentiment index dips back to March ‘fear’ levels amid Binance lawsuit
The Crypto Fear and Greed Index — a tool that measures broader market sentiment towards Bitcoin and the broader crypto market — has dipped to a level of “fear” not witnessed since March 11 this year, when Circle’s USD coin (USDC) briefly lost its dollar-peg. The stumble in market sentiment on June 5 comes in the wake of the United States Securities and Exchange Commission filing a lawsuit against Binance, its U.S. arm of operations and its CEO, Changpeng Zhao. The SEC pressed a total of 13 charges against the exchange…