Prime Trust filed for bankruptcy in August, roughly two months after Nevada regulators alleged the company was unable to meet its customers’ withdrawal requests. The company also used customer funds to invest in failed stablecoin project Terra, in addition to engaging in other dubious business practices, a court filing shows. Source
New research from Coinbase reveals that 55% of voters in pivotal U.S. states are less likely to support political candidates who oppose cryptocurrencies and web3 technologies. This data comes as part of Coinbase’s broader initiative to galvanize 52 million American crypto owners into a formidable political force. Coinbase data shows that 1 in 5 adults own crypto in America – it’s a group 52 million Americans strong. Polling in the fall of 2022 showed that in the key states of NH, NV, OH, and PA, over half (55%) of voters…
Most recently, Ethereum co-founder Vitalik Buterin transferred 300 ETH – worth roughly $493,000 – to Kraken on Tuesday, according to blockchain data noted by security firm PeckShield. While the deposit is rather small, it spurred speculation among crypto watchers given Buterin’s stature for Ethereum. Original
The cryptocurrency market, notably dominated by Bitcoin, has always been a terrain of speculation and market sentiment. Rumors and speculations have surfaced with Bitcoin’s recent slight uptick in value. Market insiders point towards the potential delay of the Mt. Gox repayments as a key driver. However, QCP Capital, a crypto trading firm, remains skeptical about a sustained rally and holds a bearish outlook, indicating that global economic factors could play against the cryptocurrency. Mt. Gox Delay Rumors Fuel Bitcoin Rally Mt. Gox, the once-dominant Bitcoin exchange that faced a sudden…
The Fed on Wednesday is widely expected to hold rates steady, but investors will monitor new economic projections and Chairman Powell’s press conference for clues about the direction of future policy. Original
Amid escalating regulatory scrutiny and legal challenges, Binance experienced a 57% drop in its weekly Bitcoin trading volume since the beginning of the month, signaling potential turbulence for the world’s largest cryptocurrency exchange. This downturn coincides with mounting legal challenges and increased regulatory oversight targeting the exchange on a global scale. Regulatory struggles continue for Binance The exchange has been grappling with a series of legal and regulatory setbacks, including lawsuits, license denials, and voluntary market exits. Authorities from the U.S. Department of Justice are said to be considering filing…
The venture capital firm a16z is now accepting applications for its Crypto Startup School (CSS) 2024 spring course, which is set to be held in London, the same city as its headquarters. According to a16z, participants of the 12-week accelerator program for early-stage companies will receive expert guidance, funding and resources from a16z crypto, in addition to the opportunity to meet industry founders and mentorship from web3 operators. Interested applicants must be builders in developing crypto products or have an interest in learning programming languages like Solidity, which are prevalent…
A new report has shown that the adoption of PayPal’s PYUSD stablecoin has seen less than favorable adoption rates since its inception. The crypto community remains skeptical about employing the new stablecoin for daily crypto payments and has opted for top competitor stablecoins like USDT and USDC. PYUSD Experiences Sluggish Adoption Rate Global payments giant PayPal released its transparency report for its stablecoin, PYUSD, and the analysis of the report reveals that the PYUSD stablecoin may not be seeing as much adoption as PayPal and PYUSD stablecoin issuer, Paxos hoped…
Cryptocurrency miners have a new voice in Washington with the launch of the Digital Power Network (DPN), a new coalition affiliated with the Chamber of Digital Commerce. The network is off to a promising start, with many of the United States’ biggest miners on board. The DPN is the first affiliate of the Chamber, and shares many of the same team members. Its origins stretch back to the Chamber’s Mining Initiative, which “pioneering the introduction of the first pro-proof-of-work resolution in the U.S. House of Representatives.” Rep. Pete Sessions’ resolution…
The U.S. Securities and Exchange Commission (SEC) isn’t done chasing down crypto exchanges and decentralized finance (DeFi) projects it sees as violating securities laws in the same vein as Coinbase Inc. (COIN) and Binance, said David Hirsch, head of the agency’s Crypto Assets and Cyber Unit. Source