2023 is off to a great start, with Bitcoin (BTC) rocketing up 40% in January. The good news is not relegated to just Bitcoin, however, as this price increase has sent ripple effects across the cryptoverse. Mining revenue jumped $22.66 million in January, and crypto-related stocks doubled on average. Despite this good news, venture capital
Month: February 2023
Cyber criminals used a variety of novel ways to carry out hacks and exploits in 2022, with over $2.8 billion of cryptocurrency stolen last year. According to a report from CoinGecko using data sourced from DeFiYield’s REKT Database, nearly half of the total crypto stolen in 2022 was fleeced using diverse methods. This includes bypassing
press release PRESS RELEASE. Abu Dhabi, 13 February 2023 — Venom Foundation, the first Layer-1 blockchain licensed by the Abu Dhabi Global Market (ADGM), has announced a partnership with DAO Maker, a leading blockchain growth solutions provider known for their Launchpad, to incubate promising Web3 startups focused on delivering real-world use cases. DAO Maker will
The New York Department of Financial Services (NYDFS) has ordered blockchain company Paxos Trust to stop the issuance of dollar-pegged Binance USD (BUSD) stablecoin. The New York regulator’s actions come shortly after the United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos — a letter the regulator uses to tell companies of planned enforcement
Recently reported planned enforcement action against the Paxos Trust Company by the United States Securities and Exchange Commission (SEC) over Binance USD (BUSD) has many in the community questioning how the regulator could see a stablecoin as a security. Blockchain lawyers told Cointelegraph that while the answer isn’t black and white, there exists an argument for it
Bitcoin (BTC) starts a new week just under $22,000 as bulls fail to reclaim lost ground in February. After modest volatility toward the weekly close, BTC/USD is still near three-week lows as a new status quo enters with $22,000 as resistance. However, the largest cryptocurrency stands at the beginning of an important week of macroeconomic
Blockchain infrastructure platform Paxos will halt issuance of new BUSD (BUSD) stablecoins amid the ongoing probe by the New York regulators. Paxos officially announced on Feb. 13 that the firm will end its relationship with Binance for the branded USD-pegged stablecoin BUSD. Starting from Feb. 21, Paxos will stop minting new BUSD tokens, in accordance
Coinbase, one of the biggest cryptocurrency exchanges in the U.S., has stated that the staking services offered on its platform do not constitute securities. The statements, made in the wake of the $30 million settlement that Kraken, another U.S.-based crypto exchange, completed with the U.S. Securities and Exchange Commission (SEC), also criticize the institution’s approach
The ill-gotten crypto from one of the industry’s largest exploits is on the move again, with on-chain data showing another $46 million of stolen funds has just shifted from the hacker’s wallet. The Wormhole attack was the third largest crypto hack in 2022 resulting from an exploit of Wormhole’s token bridge in February 2022. Around $321
Blockstream CEO Adam Back believes the price of Bitcoin (BTC) could reach $10 million by the end of the sixth halvening in 2032, as long as Bitcoin layer-2 technology and wallet infrastructure improves. In a Feb. 12 Twitter thread, Back, one of the contributors to Bitcoin core, was explaining to his 509,000 followers in what
The United States Securities and Exchange Commission (SEC) has reportedly told stablecoin issuer Paxos Trust Co. it’s planning to sue the firm for violation of investor protection laws in relation to Binance USD (BUSD). According to a Feb. 12 report in The Wall Street Journal citing people familiar with the matter, the SEC issued a
Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility. Although the near term is uncertain, analysts at Delphi Digital expect
Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull market cycle.” Dan Morehead, the firm’s founder and managing partner, noted: “Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.” Pantera Capital on the Next Bull
The first production update of 2023 from publicly listed Bitcoin (BTC) mining companies shows a steady increase in hash rate and a surge in BTC production compared to the previous month, according to a new analysis from Hashrate Index. The majority of public miners increased their bitcoin production in January, with CleanSpark boosting it by
What is monetary policy? Monetary policy refers to the actions taken by a central bank or monetary authority to manage the supply of money and interest rates in an economy, with the aim of promoting economic growth and stability. To affect the price and accessibility of credit, this may entail altering the money supply, setting
On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services
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