The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes. During her speech under the headline “Digital asset regulation: The state perspective”,
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Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September, crypto exchange Binance announced it will auto-convert USDC to its own stablecoin Binance USD (BUSD), last week saw the collapse
The United States Securities and Exchange Commission, or SEC, has extended its window to decide on whether shares of ARK 21Shares’ Bitcoin exchange-traded fund could be listed on the Chicago Board Options Exchange BZX Exchange. In a Nov. 15 announcement, the SEC issued a notice for a longer designation period for the application of ARK
Australia’s financial markets regulator has suspended FTX Australia’s financial license following the appointment of a voluntary administrator to help nearly 30,000 Australians and 132 Australian companies get their funds back from FTX. The announcement was made by the Australian Securities and Investments Commission (ASIC) on Nov. 16 local time, which suspended the Australian Financial Services
On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter
Bitcoin (BTC) spiked to $17,000 at the Nov. 15 Wall Street open as fresh United States economic data continued to show inflation cooling. “Good” PPI boosts risk assets Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it came closer to multi-day highs. Volatility had returned an hour before the open as the U.S.
Trust Wallet Token (TWT) has surged by nearly 150% in the last six days, bucking the downturn in the cryptocurrency market, whose net capitalization has crashed by almost $100 billion in the same period. TWT whale accumulation picks up momentum TWT’s price reached an intraday high of $2.43 on Nov. 15, a day after establishing
The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management. Major cryptocurrency exchanges like Binance, Huobi, OKX and Crypto.com have made efforts to share details of their assets and portfolios to assuage the wider space. This comes after investor confidence
The Federal Reserve Bank of New York’s Innovation Center, or NYIC, announced that it would be launching a 12-week proof-of-concept pilot for a central bank digital currency, or CBDC. In a Nov. 15 announcement, the New York Fed said the program would explore the feasibility of an “interoperable network of central bank wholesale digital money
Bitcoin (BTC) returned to $16,500 at the Nov. 14 Wall Street open as bulls tried and failed to break higher. Snowden hints BTC price echoes March 2020 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging below $17,000 on the day after a dismal weekly close. The largest cryptocurrency had failed to show convincing
Last Friday, the FTX drama took a new turn when it became known that some of the remaining customer funds were stolen by a hacker. According to current knowledge, it must have been an inexperienced insider who gained access to FTX’s wallets. Hacken CEO and co-founder Dyma Budorin stated that the hacker was able to
In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission, U.S. district court judge Analisa Torres has granted several motions to file amicus briefs. As a document made public yesterday shows, the court granted the motions filed by the Blockchain Association, John E. Deaton (representing 75,000 XRP investors), six XRP holders,
Bitcoin (BTC) sellers are nursing their largest overall losses since March 2020, one on-chain metric suggests. Data from on-chain analytics firm Glassnode confirms that Bitcoin’s spent output profit ratio (SOPR) has now fallen to two-year lows. BTC on-chain losses mount As Bitcoin holders attempt to pull funds from exchanges into non-custodial wallets, those moving coins
Inflows into cryptocurrency investment products rose sharply last week as institutional investors bought the dip amid the marketwide collapse triggered by FTX and Alameda Research’s bankruptcies. Digital asset investment products saw inflows totaling $42 million in the week ending Nov. 13, the largest increase in 14 weeks, according to CoinShares data. Bitcoin (BTC) investment products
Last week was tough — the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react. United States Senator Cynthia Lummis, famous for her openly pro-crypto position, promised deliberate with her colleagues on whether
Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite crypto market sell-offs. He said bitcoin “will make it” and “DOGE to the moon.” Amid crypto winter and the chaos surrounding bankrupt crypto exchange FTX, Musk believes there is a future for bitcoin, ethereum, and dogecoin. Elon Musk Thinks
Bitcoin (BTC) lost 25.4% in 48 hours, bottoming at $15,590 on Nov. 9 as investors rushed to exit positions after the second-largest cryptocurrency exchange, FTX, halted withdrawals. More importantly, the sub-$17,000 levels were last seen almost two years prior, and the fear of contagion became evident. The move liquidated $285 million worth of leverage long
On-chain data from Glassnode show Bitcoin’s (BTC) movements hit a new record for the largest net decline in aggregate BTC balances on exchanges, reducing by 72,900 BTC in one week. A similar movement occurred in April 2020, November 2020 and June 2022, with the current outflow leaving around 2.25 million BTC on exchanges. Exchange exodus
Charities accepting crypto donations are setting themselves up for an entirely new demographic of funders — who just so happen to be one of the most giving, according to charity organizations. Alex Wilson, the co-founder of The Giving Block, a crypto donation platform providing back-end support to charities, told Cointelegraph that the crypto community is
United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term. In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011