After a year of conflict between crypto companies and agencies like the SEC and CFTC, we can expect to see greater dialogue and progress on regulation in 2024, says Michael Selig, of Willkie Farr & Gallagher. Source
The pause was put in place to give the company time to adjust its current business crypto offering to make sure all of the new requirements set by the U.K. regulator in the “back end” Direct Offer Financial Promotion (DOFP) rules, which will be entering into force on Jan. 8, 2023, are met, a source told CoinDesk. Source
Bitwise is among numerous firms awaiting approval from the U.S. Securities and Exchange Commission (SEC) for launching a spot bitcoin ETF. Unlike larger players like BlackRock, Bitwise has been offering crypto ETF products for several years, a point the ad makes clear at the end, saying “ETFs backed by crypto specialists.” Original
Bitcoin (BTC) concluded the week at approximately $41,400, reflecting a 5.5% decline compared to the previous week’s closing value of around $43,800. The price experienced a notable dip on Monday, reaching a weekly low of about $40,225 before staging a strong recovery and surpassing the $43,000 threshold on Wednesday and Thursday. Over the weekend, negative price movements brought the closing price to around $41,400, with the downtrend persisting into Monday the 18th, as BTC broke below the $41,000 trading level. This past week marked the first instance of a weekly…
As part of the Celsius Network’s bankruptcy proceedings, Hut 8’s mining operation is set to accommodate 66,000 miners and be powered by over 215 MW of energy upon completion. In the prominent North American digital asset mining and high-performance computing infrastructure provider’s statement, Hut 8 President Asher Genoot expressed confidence in their selection as partners for the Cedarvale mining project, citing the strength of their managed services business managing 680 MW. Genoot emphasized its ability to establish mining infrastructure and optimize operations rapidly. The overarching objective, he noted, is to build…
It seems that every time Massachusetts Senator Elizabeth Warren fails to get an anti-crypto bill passed, she introduces a new draft. She has the strategy of messaging bills — legislation introduced for the purposes of media attention and fundraising more than actual passage — down to a science. Warren’s latest legislation, the Digital Asset Anti-Money Laundering Act, threatens to undermine crypto’s core principles of freedom and personal sovereignty. While Warren argues that her bill is necessary to combat illicit activities, a closer look reveals its potential to stifle innovation, endanger…
The deal with Hut 8 comes after Celsius recently obtained approval from the bankruptcy court to transition into a Bitcoin mining entity that creditors will solely operate. Bitcoin (BTC) mining company Hut 8 has entered into an interim agreement with the bankrupt crypto lender Celsius Network to construct and deploy new mining operations in Cedarvale, Texas. This collaboration is a key component of Celsius’s ongoing bankruptcy proceedings, designed to foster positive relations with its creditors potentially through financial agreements or equity arrangements. Hut 8 to Build New Crypto Mining Facility…
If you pay attention to the progress of blockchain and crypto, 2023 was an amazing and constructive year. As we approach the end of the year that was challenging from a business perspective, I can tell you, I still think we’re going to make it. On the other hand, if you weren’t tuned into the real work going on, all you heard about were criminals and convictions. IYKYK. Source
Although the market is experiencing an enormous pullback from its month-long rally, a few outliers continue on their upward march. Stacks (STX) is one of the few altcoins that stemmed the bearish tide and even went against the grain of the market. According to Coingecko, the token is up nearly 21% in the weekly timeframe. However, STX is starting to feel the pressure. As of writing, the token is already down 3% in the past hour. This brings the question of whether STX bulls can continue the rally or will…
OKX strategically positioned itself to ride the Ordinals wave, seizing the NFT crown amid exploding interest in Bitcoin-based creative assets. Cryptocurrency trading platform OKX has raced ahead of rivals to become the top marketplace for non-fungible tokens (NFT), recording over $50 million in daily NFT trading volume compared to $13 million on Blur and $3 million on OpenSea. This surge centers around Ordinals – unique NFTs built on the Bitcoin blockchain that have recently taken the crypto world by storm. With exclusive support for trading Ordinals, OKX currently leads the…