At the same meeting, key U.S. Treasury official Jay Shambaugh said drafting global crypto rules wouldn’t normalize the sector’s disasters, much like how mandating seat belts didn’t normalize car crashes. The roundtable, which was hosted by India as the current G20 president, was conducted under Chatham House rules and thus closed to the media. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cryptocurrency custodian fintech Prime Trust has filed for bankruptcy under Chapter 11 in the US. The company filed a voluntary petition for bankruptcy in the Eighth Judicial District Court of Nevada. Prime Trust has chosen John Guedry, former president of the Bank of Nevada, as the receiver. He and other officials will be in charge of supervising the company’s operations during the bankruptcy process. In late June, Nevada’s regulators established that the company was insolvent and…
Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson. The same day, BNB Chain decentralized exchange Biswap tweeted that Binance “has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service.” The Binance spokesperson stated: “At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy.…
The crypto finance world has witnessed numerous disputes, but few have been similar to that of the ongoing feud between DeFiance Capital and Three Arrows Capital Limited (3AC). Particularly, this dispute underscores the intricate interplay between traditional financial frameworks and the evolving dynamics of digital assets. In a tweet posted earlier today, DeFiance Capital CEO shed new light on their ongoing legal tussle with 3AC, suggesting a turn in the tide. Statement and Update on Dispute with Three Arrows Capital Limited (3AC) We are very pleased to share a positive…
In June 2023, the Atlantic Council, based in the United States, announced the results of a study on global nations’ interest in and progress toward creating their own central bank digital currencies. Eleven countries have already launched CBDCs; 130 others are in the exploratory phase, and about half of those have begun the development process. Market watchers cite multiple factors behind governments’ push toward CBDCs, from the decreasing use of cash by the general population to geopolitical tensions and events. Whatever the underlying reasons, though, crypto industry players need to…
Bitcoin may be weeks from a “sharp rally” toward $34,000, trading platform QCP Capital believes. In its latest market update released on Aug. 15, analysts said that the coming weeks include a key decision point for Bitcoin (BTC) price action. BTC price awaits September “termination point” With Bitcoin still rangebound after months of indecisive behavior, market observers are keen to predict the return of some sort of market trend. For QCP Capital, September is the key month in the calendar, thanks to BTC/USD completing a rising wedge construction that began during the…
PEPE surged remarkably in the past week posting gains of approximately 20%. The $0.0000011079 support level on the daily chart acted as a price pivot for the gains in the last few days, indicating an attempt to enter the buy zone. PEPE’s previous attempts to break above the $0.0000015440 resistance zone between July 19-24 were unsuccessful. However, the bulls are in control, driving PEPE to attempt another break above the $0.0000015440 resistance. The rally in the past 7-days indicates a momentum shift for PEPE to a more positive outlook as the…
Singapore’s Monetary Authority (MAS) has rolled out a regulatory framework for single-currency stablecoins linked to the Singapore Dollar or other G10 fiat currencies. With this new setup, any token with a circulation value over S$5 million will earn the MAS-regulated stablecoin designation. While Singapore currently hosts only one stablecoin, this regulatory stride supports its broader objective of fostering digital asset innovation and ensuring its stability. The MAS believes that, with proper regulation to ensure value stability, stablecoins can enable innovative methods like on-chain digital asset trading. Singapore’s crypto regulations With…
Layer one trading blockchain Sei Network has reached a fully diluted valuation of $1.8 billion on the initial day of token listing. On August 15, major exchanges such as Binance, Bybit and Bitget jointly listed the network’s native token (SEI). On Binance, the token opened at $0.064 apiece before surging as high as $0.48. It currently trades at $0.18 at the time of publication. The total supply is 10 billion SEI and the initial supply is 1.8 billion SEI. The same day, Sei launched the beta phase of its mainnet.…
Hedera (HBAR) has stolen the limelight by becoming the highest-gaining cryptocurrency in the past 24 hours. As investors eagerly accumulate, the token’s price exhibits a roller-coaster ride of volatility. While optimism fuels the anticipation of a price rally, caution is advised as HBAR’s Bollinger Bands cast a shadow of uncertainty over its immediate future. At the time of writing, HBAR’s price is recorded at $0.071 according to CoinGecko, reflecting an 8.1% rally over the past 24 hours. Impressively, the token has experienced a seven-day surge of 21.3%, underlining its significance…