Stablecoins look to be the next part of the crypto ecosystem facing a regulatory crackdown. The U.S. Securities and Exchange Commission has issued notice to crypto infrastructure provider Paxos...
Tag: The Block
Binance’s BNB drops 6% on latest US regulatory moves; bitcoin off lows but still down
Cryptocurrency prices were once again driven lower by regulatory developments, with Paxos and the New York Department of Financial Services going toe to toe and Binance suffering the consequences. &#...
Coinbase CEO happy to go to court over US stance on staking, ‘if needed’
Coinbase CEO Brian Armstrong has stepped up what looks like a preemptive defense of his cryptocurrency exchange’s staking services.“Coinbase’s staking services are not securities. We will ...
SEC’s targeting of Kraken staking program sends shockwaves through industry
The Securities and Exchange Commission’s move to charge crypto exchange Kraken with failing to register the offer and sale of its “crypto asset staking-as-a-service program” signals an aggressive new ...
Paxos facing probe by New York regulator: CoinDesk
Stablecoin issuer Paxos is being investigated by the New York Department of Financial Services, according to a CoinDesk report. The news comes after rumors that Paxos was asked to withdraw an ap...
OP token trades down after second airdrop reward from Optimism
Optimism users who delegated their voting power or spent gas transacting on the Layer 2 network received a portion of an OP token airdrop today as part of the network’s plan to power its mainnet. ...
Coinbase drops 8% as CEO Armstrong calls out SEC; Silvergate sinks 5%
Crypto-related stocks sold off at the open, with Coinbase and Silvergate leading the drop. Coinbase shares fell over 8% to $63 by 11:15 a.m. EST, according to Nasdaq data. Last night Coinbase CE...
Discounts, premiums narrow for Ethereum liquid staking derivatives ahead of Shanghai
Discounts and premiums on Ethereum liquid staking derivative (LSD) tokens have fallen ahead of the upcoming Shanghai-Capella upgrades. The top five biggest LSDs have narrowed toward their notion...
Bitcoin slips as memecoins lead loses; GBTC discount to NAV widens
Cryptocurrency prices slipped across the board, even as the sector buzzes about the future of AI and big data tokens. Bitcoin was trading at $22,722 by 9:35 a.m. EST, down 1.5% over the past day...
Venture capital expected to see more regulatory scrutiny after FTX
Throughout 2022 multiple crypto firms filed for bankruptcy. Then came FTX. The Commodity Futures Trading Commission’s Christy Goldsmith Romero spoke about a “trust deficit” am...
Robinhood’s crypto trading revenue dips 24% in Q4, along with most everything else
Robinhood saw transaction revenue fall in the fourth quarter from the previous period, including a 24% decline in cryptocurrencies, while a slew of other numbers also took a turn lower. The firm also ...
Bitcoin steady around $23,000 as ether moves higher; equites in the red
Bitcoin was hovering around $23,000 as ether gained. The Sandbox token jumped on news of metaverse partnership talks with Saudi Arabia. Equities slipped. The leading cryptocurrency by market cap...
Bankrupt crypto giant FTX racks up millions in legal and consulting bills
Going broke isn’t cheap. Troubled crypto exchange FTX and its affiliated companies racked up more than $20 million in legal and consulting bills during the first several months of its ban...
Bitcoin miner Stronghold pushes back debt payments on $54.9 million loan
Bitcoin miner Stronghold restructured its $54.9 million loan with WhiteHawk Finance and signed a two-year hosting deal with Foundry. The miner was able to push back any mandatory principal amort...
Former Coinbase product manager pleads guilty to criminal charges in landmark case
A former Coinbase product manager pleaded guilty on Tuesday to wire fraud charges in a criminal case brought against him. The Justice Department indicted Ishan Wahi in July, alongside his broth...
UK’s Bank of England launches digital pound project as ‘new form’ of money
The Bank of England, the UK’s central bank, launched its long-awaited digital pound project, pitching the potential to create a new payment system and form of money. The potential digital...
Former Coinbase manager seeks to dismiss watershed insider trading case
Lawyers are asking a judge to dismiss a case against their client, a former Coinbase manager and his brother, arguing that the tokens involved are not securities. In an 81-page brief, lawyers f...
Coinshares reports fourth consecutive week of inflows
Coinshares reported a fourth consecutive week of digital asset investment product inflows, totaling $76 million last week. Year-to-date inflows reached $230 million, “highlighting a decisi...
A16z votes against proposal to deploy latest Uniswap iteration on BNB Chain
A proposal to deploy the latest version of decentralized exchange Uniswap on the BNB Chain passed an early temperature check, and a full governance vote on the Uniswap DAO is bringing the heavy hitter...
Ray Dalio still doesn’t like Bitcoin but thinks inflation-beating coin could work
Ray Dalio, the billionaire hedge fund investor and founder of Bridgewater Associates, has long been critical of excess money printing and written detailed explainers on the value of money. He still do...
CFTC ‘well-positioned’ to fill regulatory gap in crypto: Behnam
Turmoil in the cryptocurrency markets shows action is needed and the Commodity Futures Trading Commission is “well-positioned” to fill a regulatory gap in cryptocurrency markets if Congress chooses, t...
A CFTC commissioner’s enthusiasm for crypto draws attention
The courtship between the crypto industry and Washington, D.C. captivated the financial policy world over the past year. As that saga has played out, Caroline Pham emerged as something of a cele...
Bitcoin mining firm Marathon Digital sold 1,500 BTC in January
Marathon Digital sold 1,500 BTC in January, according to a Thursday statement from the company. The sales were intended to help fund the firm’s operations, Marathon said. “With bitc...
Justice Department probes Silvergate’s relationship with FTX: Bloomberg
The Justice Department’s fraud department has begun probing Silvergate’s handling of accounts for Sam Bankman-Fried’s firms, Bloomberg reported, citing unnamed people familiar with the matter. T...