A group of tech experts and academics signed a letter to U.S. lawmakers criticizing cryptocurrency and blockchain technology in an effort to counter the lobbying by the crypto industry. Source
Binance had invested $200 million in Forbes earlier this year as part of the plan. Source
The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its creator, was the most concerned country of them all. Amid signs that Terraform Labs co-founder Do Kwon was facing legal trouble in South Korea, the country’s ruling party announced Tuesday that it would launch a new Digital Asset Committee in early June, according to local news outlet NewsPim. According to the report, the committee will serve as a watchdog over the crypto industry and will…
The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all. Amid signs that Terraform Labs co-founder Do Kwon was facing legal trouble in South Korea, the country’s ruling party announced Tuesday that it will launch a new Digital Asset Committee in early June, according to local news outlet NewsPim. According to the report, the committee will serve as a watchdog over the crypto industry and will…
The daily pump & dump is a weekday update on the crypto market providing you with an abbreviated breakdown of price action related to Bitcoin, Ethereum, and other trending altcoins. Today’s summary: Bitcoin reclaims $30,000 over memorial day weekend How Ethereum could lose its head against BTC What’s going on with Cardano? Bitcoin Makes Memorial Day Weekend Memorable Over the US Memorial Day holiday, bulls took advantage of thin order books and low volume, pushing the price per BTC to more than $31,500 at close. Of note, the daily candle closed…
First deputy governor of the Russian central bank Ksenia Yudayeva stated Tuesday that the bank is open to using cryptocurrency for international payments, Reuters reported, along with Russian media, which added that the bank was reconsidering its position on crypto mining as well. Yudaeva was quoted as saying: “We have changed our position on mining, and also permit the use of cryptocurrency in foreign trade and outside the country,” The bank official’s statement, sandwiched into announcements about domestic bank regulation, seems to be a concession to the legislators preparing a…
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…
Since 2016, Argentina has been engaged in a war against inflation. Caused by multiple factors, like a lack of trust in the central bank or government overspending, the depreciation of the Argentinean peso has negatively impacted citizens’ purchasing power. This has brought 37.3% of the population under the poverty line, and many others have had their savings vanish into thin air. Against this backdrop, many Argentines have turned to Bitcoin (BTC) and crypto as a way to hedge against 60% inflation, despite the market being in the red for several…
The chief executive of Seychelles-based crypto exchange FTX reportedly says that the company is ready to make multi-billion dollar investments to expand its operations. According to Bloomberg, FTX CEO and co-founder Sam Bankman-Fried says that the company has set aside over $2 billion from fundraising events to finance investments in other firms. “FTX is a profitable company. You can look at the amount that we’ve raised over the last year or two – it’s a few billion dollars. That gives maybe a sense of where we are in terms of…
Executives at top crypto exchange Coinbase are reportedly selling off $1.2 billion worth of the company’s shares since its direct listing in April 2021. The Wall Street Journal (WSJ) reports that Coinbase CEO and co-founder Brian Armstrong, co-founder Fred Ehrsam, president and chief operating officer Emilie Choi and chief product officer Surojit Chatterjee are responsible for the sales. The WSJ determined the figure by tracking regulatory filings. Coinbase’s shares (COIN) opened at around $342 in April 2021 but have since plummeted to $75.12 at time of writing, according to MarketWatch.…