“The FCA has an important role to play in keeping dirty money out of the U.K. financial system,” Therese Chambers, the FCA’s executive director of enforcement and market oversight, said in the statement. “These arrests show we will do everything in our power to stop crypto firms from operating illegally in the U.K.” Source
Day: June 20, 2024
Crypto Assets Rally With BTC Returning to $66K
Crypto assets enjoyed a rally during the European morning, lifting bitcoin around 1.5% over 24 hours to $66,300 and ether 2% to $3,600. The broader digital asset market, as measured by the CoinDesk 20 Index (CD20) has climbed about 1%, with Avalanche’s AVAX the biggest gainer at just under 3.9%. XRP has risen by 1.5%, while Solana’s SOL gained 1.3%. SOL, as the closest thing to an ether competitor in the altcoin market, may be experiencing downside as traders anticipate the listing of spot ETH ETFs in the U.S., an…
Italy to Increase Surveillance of Crypto Market With Fines as High as 5M Euros: Reuters
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CryptoX is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CryptoX was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CryptoX operates as…
LayerZero Users Must Pay 10 Cents per ZRO to Claim Airdropped Token
“By donating to Protocol Guild, eligible recipients show long-term alignment with the LayerZero protocol and a commitment to the future of crypto,” LayerZero said in an X post. “To claim ZRO, users must donate $0.10 in USDC, USDT, or native ETH per ZRO. This small donation goes directly to the Protocol Guild.” Source
Stablecoin Issuers Now 18th Largest Holder of U.S. Debt
Tether Ltd, the issuer of tether (USDT), the world’s leading dollar-pegged cryptocurrency by market value, alone holds around $91 billion in Treasuries and Circle, the issuer of USDC, holds short-dated U.S. debt, including repos, worth $29 billion, according to Tagus Capital. Source
Swiss National Bank and SDX Delve Deeper Into Central Bank Digital Currencies (CBDC), Tokenization in Project Helvetia
“What we’re talking about here is as good as the traditional infrastructure,” Newns said in an interview. “Now we’ve achieved that sort of equivalence for digital securities around the cash leg, these are eligible for inclusion in the collateral market so you can use them for repo. We have bridges into traditional finance, so an issuer can reach that entire liquidity base you get on a traditional exchange. And as a result of the project, participating members have now tripled, and are using us as a way to further their…
Big Move Coming After Consolidation Phase?
Ethereum, the second-largest cryptocurrency by market capitalization, is currently at a critical juncture as its price enters a consolidation phase. This period of price stability, marked by a narrow trading range, has left traders and investors in a state of uncertainty. With Ethereum’s price hovering around key support and resistance levels, market participants are closely monitoring technical indicators and market signals to anticipate the next move. The current consolidation reflects a balance between bullish optimism and bearish caution, creating an environment of indecision that could lead to significant volatility once…
Novogratz’s Galaxy Digital set to overtake Coinbase as largest Solana validator
Galaxy Digital, the digital bank founded by Michael Novogratz, is poised to become the largest validator in the Solana network. Galaxy Digital, a global crypto-focused financial services firm founded by Bitcoin bull Michael Novogratz, is set to surpass Coinbase as the largest validator in the Solana network, marking a significant milestone in the competitive world of blockchain validation. Galaxy just got 3M in SOL staked to them — meaning they will become the new #1 validator on Solana in ~16hours, overtaking Coinbase almost certainly due to the FTX estate sale…
FCA and Police Collaborate in Arrests over Suspected Illegal Crypto Exchange
The Financial Conduct Authority (FCA) collaborated with the Metropolitan Police Service to apprehend two individuals, aged 38 and 44, suspected of managing an illicit crypto asset exchange. The operation was prompted by suspicions that the exchange facilitated transactions exceeding £1 billion in unregistered crypto assets. Suspects Released on Bail The FCA conducted inspections at premises linked to the suspects, where the police executed searches and seized multiple digital devices from two residential properties in London. Following these actions, both suspects were questioned under caution by the FCA and subsequently released…
Dogecoin (DOGE) Prices Fall as Traders Bet Against Token, “Memecoin Summer on Hold,” Some Say
“When the price of Bitcoin falls, memecoins tend not only to follow, but to lose an even greater share of their value,” shared Neil Roarty, analyst at investment platform Stocklytics, in a Thursday email to CoinDesk. “Any plans for a memecoin summer may have to be put on hold.” Source