Month: September 2023

SEC embroiled in court cases; Hester Peirce says crypto firms shouldnโ€™t give up on US

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Hester Peirce, one of five commissioners with the United States Securities and Exchange Commission (SEC) and an outspoken proponent of crypto, has urged lawmakers and regulators for clarity on digital assets. Speaking to Cointelegraph at the Permissionless II conference in Austin, Texas on Sept. 11, Peirce said she wouldnโ€™t have expected the SEC to be โ€œthis far behindโ€ in finding a solution for a regulatory framework on cryptocurrencies when she joined the commission in 2018. She pointed to countries like Switzerland and Singapore as seemingly ahead of the curve on…

Millions Exit Bitcoin, But These Three Coins Hold Their Ground

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Last week marked a significant trend as crypto funds, including those holding Bitcoin, faced significant outflows, amplifying investor concerns. While the marketโ€™s momentum has wavered for several crypto, a few resilient assets stood firm. Digital asset investment products witnessed a decline for the fifth straight week. Last week alone saw outflows amounting to $53.5 million, accumulating to nearly half a billion in aggregate outflows over the past nine weeks. Market Leaders โ€“ Bitcoin And Ethereum Feel The Brunt Bitcoin (BTC), often dubbed the โ€œking of cryptocurrency,โ€ bore the brunt of…

Binanceโ€™s U.S. Exchange Bucks SECโ€™s Document Requests Amid Investigation

BAMโ€™s lawyers, however, alleged those requests were โ€œunduly burdensome,โ€ forcing BAM to take on โ€œsignificant expense[s],โ€ according to the filing. In addition, some of the documents are either not in the exchangeโ€™s possession or fall โ€œoutside the scopeโ€ of what is pertinent to the SECโ€™s investigation, the lawyers alleged. CryptoX Portal

Incoming Milestone Could Be Very Bullish For XRP Price, Hereโ€™s Why

Since Judge Analisa Torresโ€™s ruling back in July that programmatic XRP sales do not qualify as securities, the token has been on an upward trajectory in terms of growth. This time around, the XRP Ledger is close to another enormous milestone, which could spell good news for the XRP price going forward. Accounts On XRP Ledger Near 5 Million Mark In an interesting turn of events, the number of accounts that are present on the XRP Ledger has been rising rapidly. This has seen the metric barrel toward the 5…

Blockchain Capital closes funds totaling $580M for investments in crypto gaming, DeFi

Venture capital group Blockchain Capital announced the closing of two new funds, totalling $580 million, for investment in infrastructure, gaming, DeFi and consumer/social technologies. The funds will operate as Blockchain Capitalโ€™s sixth early stage fund and its first โ€œopportunity fund,โ€ with the latter serving as an inroad to companies whoโ€™ve already secured major funding elsewhere. We’re thrilled to share the closing of 2 new funds โ€“ our 6th early stage fund and 1st opportunity fund. Together, they total $580 million and serve to reinforce our commitment to leading the global…

Can Regulators Ever Keep Up With Crypto Markets?

Either way, measuring whether regulations are โ€œworth the costโ€ is a futile act. Especially in the world of crypto, where all of the real use cases are essentially ungovernable and where all excitement takes place well outside of walled gardens like Coinbase and Gemini. Mass market crypto has so far come around on a four-year timetable, and itโ€™s only during bull markets that centralized retail crypto lending, crypto credit cards, et cetera can sound like a good idea. Source

Bitbuy enters partnership with Canadaโ€™s largest Bitcoin ATM Provider

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WonderFi has announced a strategic partnership between its subsidiary, Bitbuy Technologies Inc., and Localcoin, the largest Bitcoin ATM provider in Canada. Under this partnership, Bitbuyโ€™s digital asset services will now cover up to half of the Bitcoin ATMs in the country. The No. 2 sector power According to WonderFi, Canada continues to hold prominence in the crypto ATM arena, boasting a total of 2,747 ATMs, second only to the U.S. Through its subsidiaries, WonderFi Technologies currently provides 1.6 million Canadians with access to regulated crypto trading and staking through subsidiaries…

Bitcoin mining firm Hut 8 gets judicial approval for USBTC merger

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Canadian Bitcoin mining giant Hut 8 secured pivotal judicial approval for its merger with USBTC.ย  The British Columbia Supreme Court has granted the final judicial go-ahead for the union between Canadian Bitcoin miner Hut 8 and U.S. Bitcoin Corp (USBTC). Scheduled to culminate by yearโ€™s end, this merger is poised to reshape the landscape of Bitcoin mining and high-performance computing. We are pleased to share that the Supreme Court of British Columbia has issued a final order approving the merger of equals between Hut 8 and USBTC! ๐ŸŽ‰The full details…

Bitcoin investors are bullish on the US Fedโ€™s $100B loss

The U.S. Federal Reserve made a significant announcement on Sept. 14, revealing accumulated losses of $100 billion in 2023. Whatโ€™s more, this situation is expected to worsen for the Fed, according toย Reuters. But for risk assets like Bitcoin (BTC), this may actually be a blessing in disguise.ย  The Fed in the red The primary reason behind this financial setback is that the interest payments on the Fedโ€™s debt have surpassed the earnings generated from its holdings and the services it provides to the financial sector. As a result of this…