Month: February 2024

India CBDC Insider Reveals Current Stance of Country’s Central Bank

The Reserve Bank of India (RBI) is now looking into technology solutions to solve privacy concerns posed by a digital rupee, the official said. While the bank is maintaining a careful stance on crypto, the person said, it wouldn’t plan to object if the government decided to reduce a controversial tax that has stifled the crypto industry. The RBI isn’t mandated with legislating taxes, so that decision falls out of its purview. However, the central bank has stepped beyond its role before to try to ban crypto, so its apparent…

Polkadot (DOT) Circulating Market Cap Rockets To $8.3 Billion, Registers Massive 111% Growth

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Polkadot, the computing platform known for its interoperability and scalability, has shown remarkable growth in key metrics during the latter part of 2023, as outlined in a recent report by Messari.  Outpacing Crypto Market Growth According to Messari’s findings, Polkadot’s circulating market cap experienced a remarkable 111% quarter-on-quarter (QoQ) growth, reaching an impressive $8.38 billion.  This growth outpaced the overall crypto market’s growth of 54% during the same period. Furthermore, Polkadot’s year-on-year (YoY) change reached 94%, solidifying its position among the top 15 crypto projects by market capitalization. DOT’s circulating…

U.S. Charges Trio With Theft, Including Infamous Attack on Crypto Exchange

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

BitMEX Whales Buy Bitcoin: What History Says Will Happen Next

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On-chain data shows the Bitcoin price has followed a particular pattern when the BitMEX whales have made large withdrawals. Bitcoin Exchange Netflow For BitMEX Has Seen A Red Spike Recently As an analyst in a CryptoQuant Quicktake post pointed out, the cryptocurrency exchange BitMEX has recently observed significant withdrawals from the whales. The indicator of interest here is the “exchange netflow,” which tracks the amount of Bitcoin entering or leaving any exchange’s wallets. The metric’s value is calculated by subtracting the outflows from the inflows. When the value of this…

U.S. Lawmakers Seek to Overturn SEC’s Crypto Accounting Policy ‘SAB 121’

“The SEC issued SAB 121 without conferring with prudential regulators despite the accounting standard’s effects on financial institutions’ treatment of custodial assets, and the SEC issued SAB 121 without going through the notice-and-comment process,” said Rep. Flood, in a statement. “In the face of overreach by a regulator, it is the role of Congress to serve as a check.” Source

Valkyrie diversifies spot Bitcoin ETF custody with BitGo

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Valkyrie is the first spot Bitcoin ETF issuer to leverage two separate crypto custodians for its fund, thanks to its deal with BitGo. BitGo will provide custodial services for Valkyrie’s Bitcoin Fund (BRRR), safekeeping and storing a portion of the underlying Bitcoin (BTC) in the firm’s exchange-traded product. Valkyrie and BitGo reached the agreement on Jan. 17 but only filed with the U.S. Securities and Exchange Commission (SEC) on Feb. 1. The strategy diversifies Valkyrie’s spot BTC ETF by splitting the risk across multiple crypto custodians, reducing single failure points,…

OPNX, the Exchange Built by Founders of Doomed Hedge Fund Three Arrows, Is Shutting Down

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin billionaire Arthur Hayes urges a return to investing in Solana

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Former BitMEX CEO Arthur Hayes recently highlighted Solana’s potential for recovery and growth in the crypto market after the FTX downfall and corruption. After the conclusion of the FTX collapse and the legal battles that ensued, many speculated about the fate of Solana (SOL), a cryptocurrency once favored by the now-convicted founder Sam Bankman-Fried. Contrary to speculations, Hayes has recently spotlighted Solana, indicating a positive trajectory for the network. Known for his expertise and experience in navigating the crypto market’s ups and downs, Hayes posted his optimism for Solana to…