Tether and Bitfinex had filed a request to remove Roche’s entire law firm from the case. Judge Katherine Polk Failla said that the firm’s continued participation in the case could derail litigation, the report said. “The metaphorical baggage they now carry is not in the best interests of the class,” Failla said. Source
Web3 developers don’t appear to be fazed by the crypto bear market, with one Web3 platform suggesting they’re “more active than ever” — particularly on the Ethereum (ETH) network. In a new Q3 2022 report on Oct. 13 by Web3 development platform Alchemy, the company said that 2022 could be the “biggest year yet” for development on Ethereum. Around 36% of all smart contracts ever deployed and verified on the blockchain have been in 2022, a count of nearly 118,000 compared to the over 323,700 ever deployed, according to the report. This…
● CoinDesk Market Index (CMI): 944.23 +0.4% ● Bitcoin (BTC): $19,373 +1.2% ● Ether (ETH): $1,294 −0.4% ● S&P 500 daily close: 3,669.91 +2.6% ● Gold: $1,673 per troy ounce +0.2% ● Ten-year Treasury yield daily close: 3.95% +0.05 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Source
Patrick McHenry, ranking member of the United States House of Representatives Financial Services Committee, thinks the “conversation has become unmoored” regarding financial technology and needs to return to solving real-world problems. He is currently in talks over legislation that may at least bring more clarity to stablecoins. Currently, there is no U.S. federal definition of digital assets or stablecoins, McHenry said, calling the situation “retrograde.” McHenry, House Financial Services Committee Chair Maxine Waters and the Treasury Department have been in negotiations for months on legislation to regulate stablecoins “in an…
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 a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…
Cryptocurrency traders were caught by surprise after the Oct. 13 Consumer Price Index Report showed inflation in the United States rising by 0.6% in September versus the previous month. The slightly higher-than-expected number caused Bitcoin (BTC) to face a 4.4% price correction from $19,000 to $18,175 in less than three hours. The abrupt movement caused $55 million in Bitcoin futures liquidations at derivatives exchanges, the largest amount in three weeks. The $18,200 level was the lowest since Sept. 21 and marks an 8.3% weekly correction. Bitcoin/USD 1-hour price. Source: TradingView…
BlockTower is one of several notable crypto investment firms that is a registered investment advisor (RIA), which gives the firm more flexibility particularly when it comes to liquid and illiquid token investments, according to the report. Recent BlockTower investments have included layer 1 blockchain Aptos and institutional finance network Maple Finance. Source
The 100 billion yuan figure is also dwarfed by the volumes recorded by the country’s top payment providers such as Tencent’s WeChat Pay and Ant Group’s Alipay. The latter, for example, processed payments worth 118 trillion yuan ($16.4 trillion) in the 12 months ending in June 2021, according to the SCMP’s report. Ant Group is the fintech affiliate of Chinese e-commerce giant Alibaba, which also owns the SCMP. Source
“We expect the disconnect between the reported carrying value on our balance sheet and the fair market value of our bitcoin holdings to grow significantly over time,” MicrosStrategy CEO Phong Le said in a letter to the FASB last year, as quoted by WSJ. Source
A list of crypto exchanges, including global platforms, have not introduced new restrictions on Russian users after the EU’s most recent sanctions round, Russian crypto media reported. The latest European penalties target an array of crypto-related services to increase pressure on Russia amid an escalating conflict in Ukraine. Major Exchanges Continue to Work in Russia Following EU’s Ban on Crypto Services The European Union adopted a wide range of sanctions last week, aiming to hit Russia’s government, economy, and trade harder. Along with other measures, the eighth package of EU…