Singaporean venture capital firm Foresight Ventures has bought a majority stake in The Block, with the crypto media outlet being valued at $70 million. Source
The U.S. Internal Revenue Service (IRS) is gathering the final words now from a crypto sector that is arguing the agency’s proposal for a digital-assets taxation regime is an existential threat to investor privacy and to decentralized crypto projects. Source
The latest price moves in bitcoin [BTC] and crypto markets in context for Nov. 13, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
“The user made a withdrawal from Binance, which was valid and authorized on our platform. Unfortunately, the DeFi wallet that received the withdrawal was compromised. While this is outside of our scope of control, Binance’s security team is looking into the matter and we will provide assistance where we can,” a Binance spokesperson told CoinDesk. Source
The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent crypto entrepreneurs as attendees. According to the Committee’s calendar, Mr. Bill Hughes, senior counsel and director of global regulatory matters at Consensys, and Mr. Jonathan Levin, co-founder and chief strategy officer at Chainalysis, will participate in the hearing as witnesses. Former federal officer and human trafficking finance specialist…
Bitcoin miners recorded their annual all-time high, earning over $44 million in block rewards and transaction fees. Miners’ income primarily comes from rewards for confirming BTC transactions and creating new blocks using high-tech computer equipment known as mining rigs. Source: blockchain.com Miners currently receive 6.25 BTC for each successful block creation in addition to the transaction fee. According to data from blockchain.com, on Nov. 12, miners earned $44 million. Between April 2022 and November 2023, several factors contributed to the decline in revenue for Bitcoin miners worldwide. These include a…
Total liquidity for the token is a paltry $3.5 million on decentralized exchanges, meaning a single significant sale could instantly topple the rise. Source
Erik Voorhees, a prominent Bitcoin advocate, highlighted THORChain’s significance by noting that it processed almost 2%, equivalent to $224 million, of the overall spot Bitcoin trading volume between November 11 and 12. In a recent development, THORChain has emerged as a powerhouse in the Decentralized Finance (DeFi) ecosystem, claiming the title of the third-largest Decentralized Exchange (DEX) by trading volume. Over the last week, THORChain recorded an impressive $1.32 billion in trading volume, positioning itself just behind Uniswap and PancakeSwap, according to data from DefiLlama. RUNE Token and Trading Surge…
The entire crypto industry is waiting for the approval of Spot Bitcoin ETFs in the US to upend the market and herald the next extended bullish run for BTX. However, Chief Economist Peter Schiff is of another thought and is of the idea that a BTC price crash is on the horizon even before the SEC gives the green light on spot Bitcoin ETFs. Economist Peter Schiff Warns of Potential Bitcoin Crash Schiff created a poll on social media recently and asked his more than 980,000 followers to vote on…
In the last bear market, crypto was still in the discovery phase as users were wondering whether blockchain assets are a legitimate long-term trend or just a fad that should’ve been sold at the top. This time, the top industry players, including Microsoft, Google and Reddit, are moving into Web3 products, and top banks such as JP Morgan and Franklin Templeton are testing the waters by settling transactions on-chain. Bear markets also bring uncertainty to builders. VC investment into Web3 startups has fallen to its lowest since 2020. VCs that…