Tag: News

Coinbase Argues Its Staking Services Are Not Securities, Criticizes SEC Regulatory Approach – Bitcoin News

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Coinbase, one of the biggest cryptocurrency exchanges in the U.S., has stated that the staking services offered on its platform do not constitute securities. The statements, made in the wake of the $30 million settlement that Kraken, another U.S.-based crypto exchange, completed with the U.S. Securities and Exchange Commission (SEC), also criticize the institution’s approach to the issue. Coinbase Defends Its Staking-as-a-Service Program Coinbase, one of the leading U.S.-based cryptocurrency exchanges, has published a blog post differentiating its staking-as-a-service program from others in the market, and clarifying that, for the…

Microsoft Reportedly Shutting Down Industrial Metaverse Focused Group – Metaverse Bitcoin News

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Software giant Microsoft is shutting down one of its most significant groups dedicated to the development and promotion of the industrial metaverse. According to reports, the company terminated its whole Industrial Metaverse Core group, which was composed of 100 employees, as part of the 10,000-person layoff rounds announced in January. Microsoft Reportedly Terminating Industrial Metaverse Group Microsoft, the Washington-based software giant, seems to be abandoning the metaverse in favor of other initiatives. According to reports from The Information, the company announced internally the disbandment of the Industrial Metaverse Core group,…

US Crypto Lawsuits Reach All-Time High With 42% Increase in 2022; SEC Cases Dominate Legal Battles – Bitcoin News

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A new study on digital currency-related lawsuits since 2018 shows a 42% increase in crypto lawsuits in 2022. The highest number of claims in a single year was recorded last year, with 41 total claims in the United States. The research also shows that the majority of lawsuits came from the U.S. Securities and Exchange Commission (SEC). Rise in U.S. Crypto Lawsuits Tracked Since 2018: Report Similar to the price cycles experienced by cryptocurrencies, there are fluctuations in the number of U.S. crypto-related lawsuits filed each year, according to new…

Bridgewater CIO Warns of Deeper, Longer, and ‘Much More Painful’ Recession Than What We’re Accustomed To – Economics Bitcoin News

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Bridgewater Associates’ co-chief investment officer has warned about a recession that is “much more difficult” and “much more painful” than what we’ve been accustomed to. “The dam has been broken where fiscal policymakers are now part of the story,” said the executive of the world’s largest hedge fund. Bridgewater Executive’s Recession Warning Karen Karniol-Tambour, Bridgewater Associates’ co-chief investment officer, warned about recessions that are very different from previous times in an interview with Bloomberg last week. Founded by billionaire Ray Dalio, Bridgewater Associates is the world’s largest hedge fund, with…

We’re in Next Bull Market Cycle – Markets and Prices Bitcoin News

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Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull market cycle.” Dan Morehead, the firm’s founder and managing partner, noted: “Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.” Pantera Capital on the Next Bull Market Pantera Capital published its February Blockchain Letter last week. The letter, titled “The Seventh Bull Cycle,” is authored by founder and managing partner Dan Morehead and investment associates Ryan Barney and Sehaj Singh. Pantera…

Fed Governor Warns Crypto Prices Could Fall to Zero — Says ‘Don’t Expect Taxpayers to Socialize Your Losses’ – Markets and Prices Bitcoin News

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U.S. Federal Reserve Governor Christopher Waller has warned that crypto prices could fall to zero at some point. “Please don’t be surprised and don’t expect taxpayers to socialize your losses” when that happens, the Fed governor stressed. Crypto Prices Could Go to Zero, Fed Official Warns Federal Reserve Governor Christopher J. Waller warned about the danger of investing in cryptocurrency on Thursday at the Global Interdependence Center Conference on “digital money, decentralized finance, and the puzzle of crypto.” “To me, a crypto asset is nothing more than a speculative asset,…

Block Sizes Exceeding 3 MB Now Common on Bitcoin Blockchain as Ordinal Inscription Demand Rises – Bitcoin News

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Since Luxor, a bitcoin mining pool, mined a record-setting 3.96 MB block (#774,628) on the Bitcoin blockchain, block sizes have been larger than they were prior to that block height in the past 12 days. Statistics show that blocks larger than 3 MB are now quite common, and demand for Ordinal inscriptions has risen as they have surpassed 65,000 this weekend. Sustained Use of Blocks Larger Than 3 MB Continues on the Bitcoin Blockchain Observers saw history made on Feb. 1, 2023, when Luxor mined the largest block in the…

Russia Releases Bitzlato Co-Founder Anton Shkurenko After Questioning – Exchanges Bitcoin News

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Russian authorities have released the recently arrested co-founder of crypto exchange Bitzlato, said to have processed illicit funds worth millions of U.S. dollars. Anton Shkurenko, who was questioned in Moscow, denies the French charges against him that became the reason for his brief detention. Shkurenko Says Potential Case Against Him in Russia Won’t Interfere With Bitzlato Relaunch Russian prosecutors have asked France to send materials from its investigation into the seized digital asset exchange Bitzlato in order to determine whether to initiate additional proceedings in Russia, the platform’s co-founder Anton…

House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest – Bitcoin News

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On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services Committee. McHenry and Huizenga assert that the timing of Bankman-Fried’s charges and arrest raises “serious questions about the SEC’s process and cooperation with the Department of Justice.” House Representatives McHenry and Huizenga Probe SEC Over…

Bitcoin Network Experiences Slight Dip in Difficulty After Record High – Mining Bitcoin News

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Bitcoin’s difficulty decreased 0.49% on Feb. 12, 2023, following a sustained all-time high of 39.35 trillion over the previous two weeks (2,016 blocks). The decrease in difficulty offers a brief respite for bitcoin miners, after the network recorded a 14.94% increase in the last month. Bitcoin Difficulty Drops 0.49% Lower; Top Five Mining Pools Continue to Command Majority of Global Hashrate At the time of writing, Bitcoin’s hashrate is coasting along at 289.14 exahash per second (EH/s) after a 0.49% decrease in difficulty at block height 776,160. The network difficulty…