USDC depegged over the weekend to 89 cents, and a Buterin-labeled wallet may have bought the dip. Source
Vitalik Buterin-Named Wallet Sent 500 Ether to Mint RAI, Buy USDC Amid Depegging
Tag: Ether
Bitcoin and Ether Price Jumps Over 9% as Fed and FDIC Come at SVB Depositors’ Rescue
The Fed and the FDIC have assured depositors that they could withdraw money from Silicon Valley Bank thereby instilling some confidence among crypto investors. In the early trading hours on Monday, March 13, the broader cryptocurrency market made a strong comeback surging past $1 trillion levels once again. This surprise rally in the crypto space came as the top three US regulators – the Federal Reserve (Fed), US Treasury, and FDIC – stepped in to control the unfolding crisis in the US banking sector. Earlier last week, the Silvergate Bank…
Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB, and Other Tokens
Binance tapped into its Industry Recovery Initiative funds to cover the move. Original
Bitcoin, Ether Retrace Weekend Losses As Bears See $183M in Short Liquidations
Markets jumped amid respite from the U.S. government and USD Coin-issuer Circle. Source
CFTC Chair Insists Ether Is a Commodity, Not a Security as Claimed by SEC Chairman – Regulation Bitcoin News
The chairman of the Commodity Futures Trading Commission (CFTC) has insisted that ether is a commodity, not a security as claimed by the chairman of the Securities and Exchange Commission (SEC). The CFTC chief stressed that the derivatives watchdog would not have allowed ether futures products to be listed on CFTC-regulated exchanges “if we did not feel strongly that it was a commodity asset.” Ether Is a Commodity, Claims CFTC Chairman The chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, addressed the claim made by the chairman of…
Ether a Security? That Could Have Huge Ramifications for Crypto, Legal Expert Says
Once there are “federal guidelines, rules, regulations and laws that may preempt state law, oftentimes you’ll see things percolate up from the states and eventually make it before the [U.S. Supreme Court] to render the ultimate determination. And this is what we often see” in new and emerging asset classes and industries, she said. Source
On-Chain Liquidations Beckon as Ether Slumps to 2-Month Low
On-chain liquidations occur when the value of collateral added by a user borrowing an asset slumps, and the user is then required to add more margin to avoid it being liquidated. Conversely, the user will also risk liquidation if the value of the borrowed asset rises beyond borrowing capacity. Source
Ether Hits Two-Month Low Under $1.4K as Coinbase Premium Index Dwindles
The New York Attorney General’s decision to refer to ether as security in its lawsuit against the cryptocurrency exchange KuCoin likely catalyzed the selling. If ether is deemed as a security and not a commodity, then the Securities and Exchange Commission may subject ether investors to stringent requirements regarding registration, disclosure and accreditation. Source
What Happens if Ether is a Security?
“Technically the way that the draft reads, if you’re offering a platform to people where they can engage in these types of transactions, regardless of whether it’s a commodity or a security, New York is saying, ‘Hey, we think you might have to be a broker-dealer – either a securities broker-dealer, or commodities BD,’” Belton said. “If that’s right, this thing is much bigger than like, ‘Oh, hey, can the exchanges keep offering ether?’” Source
New York Attorney General Alleges Ether Is a Security in KuCoin Lawsuit
In a press release, the NYAG’s office said, “The petition argues that ETH, just like LUNA and UST, is a speculative asset that relies on the efforts of third-party developers in order to provide profit to the holders of ETH. Because of that, KuCoin was required to register before selling ETH, LUNA, or UST.” Source