According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercis...
Tag: news
Biden’s Budget Proposal Includes Crackdown on Crypto Wash Sales and Doubling of Capital Gains Tax for Certain Investors
President Joe Biden’s upcoming budget proposal includes a few surprises for crypto traders and investors, as it seeks to raise around $24 billion through changes to crypto tax treatment. The pro...
Silvergate Bank Voluntary Liquidation Sparks Controversy in Crypto Industry
The voluntary liquidation of Silvergate Bank, a crypto-friendly bank, has caused a stir in the crypto industry, with many sharing their thoughts about the bank’s troubles and the broader impact of its...
‘Pay Attention to QT and the Money Supply’ – Economics Bitcoin News
During the Covid-19 pandemic, central banks such as the U.S. Federal Reserve loosened fiscal and monetary policy. Now, these same financial institutions are seemingly engaging in quantitative tighteni...
Jimmy Fallon Fights Subpoena in NFT Legal Battle
The current litigation between Yuga Laboratories Inc. and Ripps et al. has brought attention to the intellectual property and trademark rights that are associated with the NFT industry. In a separate ...
BitMEX Co-Founder Proposes Bitcoin-Backed Stablecoin
Even if authorities are increasing their scrutiny of stablecoins, the community’s persistent interest in stablecoins that are not related to the U.S. dollar is illustrated by Hayes’ idea f...
Federal Judge Refuses to Consolidate Class-Action Lawsuits Against FTX Exchange
As a result of the decision taken by United States District Judge Jacqueline Scott Corley to refuse the motion to consolidate the cases, FTX and its defendants will have the right to react to the accu...
Mt. Gox Creditors Given Extra Month to Register Claims, Distribution Deadline Delayed
Mt. Gox was a cryptocurrency exchange that was situated in Tokyo. At one point in time, it was responsible for more than 70% of all Bitcoin transactions. In 2014, the exchange suffered a hacking attac...
BaFin Declines to Classify NFTs as Securities, Recommends Case-by-Case Approach
The fact that there is now a discussion going on over the appropriate approach to classify these digital assets is reflected in BaFin’s decision to not recognize NFTs as securities. This argumen...
FTX to Sell Remaining Interest in Sequoia Capital to Abu Dhabi Sovereign Wealth Fund
According to the papers filed with the court, Alameda Research, the investment division of FTX, has reached an agreement to sell the company’s remaining stake in Sequoia Capital to Al Nawwar Inv...
Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’ – Bitcoin News
After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously w...
Safeheron Discovers Security Flaw in MPC Wallets
MPC wallets are becoming more popular among financial institutions and developers of Web3 apps as a means of securing cryptocurrency assets. This trend may be attributed to the growing concern about t...
MATIC, SOL Fall to Lowest Point Since January – Market Updates Bitcoin News
Polygon fell to its lowest point since January earlier in today’s session, as overall sentiment in crypto markets remained bearish. Overall, the global market cap is now down 1.46% as of writing. Sola...
ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy Use – Bitcoin News
Environmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Will...
BTC Moves to Fresh Multi-Week Low Following Silvergate Liquidation Announcement – Market Updates Bitcoin News
Bitcoin continued to trade lower on March 9, as prices fell to a fresh multi-week low in today’s session. The decline came as crypto bank Silvergate confirmed that it will be winding down operations. ...
Hong Kong Residents Lost More Than $216 Million to Crypto Scams in 2022 – Regulation Bitcoin News
According to Hong Kong police, in 2022 there were 2,336 reported crypto scam-related cases in which more than $216.6 million was lost. Although losses relating to crypto scams only constituted just ov...
Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’ – Bitcoin News
Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the websi...
Signature Bank plummets in share price pre-market, after news of Silvergate halting operations
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Blockchain Retail Market Size to Top Over $2 Billion by 2028 — Study – Blockchain Bitcoin News
According to Fortune Business Insights, the global blockchain retail market size is expected to surge from the $172.2 million recorded in 2021 to over $2 billion by 2028. Both the demand for the produ...
Mt Gox Trustee Sets Final Cut-off Date for Creditors to Claim Over $3 Billion in Recovered Bitcoin – Bitcoin News
The Tokyo bankruptcy court trustee for the defunct Japanese bitcoin exchange Mt Gox, Nobuaki Kobayashi, has published a letter stating that creditors have until March 10, 2023 (Japan Time) to register...
Coinbase Launches Wallet-as-a-Service to Bring Millions to Web3 – Bitcoin News
On March 8, Coinbase announced the launch of its Wallet-as-a-Service (WaaS) product. The WaaS product aims to “bring the next hundred million consumers into Web3 through a seamless wallet-onboarding e...
Crypto Market News : Here’s What Next For Bitcoin (BTC) and Polygon (MATIC)
Bitcoin and Polygon (MATIC) are two digital assets that have experienced a lot of volatility recently. However, according to a top crypto strategist, both could be in for major moves in the coming mon...
Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue – Bitcoin News
Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters ...
Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist – Bitcoin News
At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant finan...
Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet – Bitcoin News
On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,0...
Fed Chair Warns of Higher Interest Rates Than Previously Anticipated, Faster Hikes – Economics Bitcoin News
Federal Reserve Chairman Jerome Powell has warned that “the ultimate level of interest rates is likely to be higher than previously anticipated.” In addition, if faster tightening is warranted, the Fe...
White House Lashes Out Against Fox News For Jan. 6 Tapes
Topline The White House sharply condemned Fox News host Tucker Carlson’s depiction of the January 6 Capitol riots on Wednesday, marking the first time the Biden Administration has spoken out against t...
US Crypto Holders Trust Banks and Exchanges for Custody
A recent survey conducted by Paxos has shown that American crypto holders still trust intermediaries such as banks, crypto exchanges, and mobile payment apps to hold their digital assets. The survey, ...
$1 Billion Worth of Bitcoin Moved from US Law Enforcement Seized Wallets
In March 2023, over 50,000 Bitcoin (BTC) worth $1 billion were moved from multiple wallets connected to US law enforcement seizures. The transfers included three transactions, with the majority being ...