The state of Kuwait is the latest jurisdiction to ban virtually all operations involving cryptocurrencies like Bitcoin (BTC). On July 18, Kuwait’s main financial regulator, the Capital Markets Authority (CMA), issued a circular on supervision and issuance of virtual assets in the country. In the circular, the CMA confirmed the commitment to “absolute prohibition” on
Month: July 2023
XRP rocketed higher by nearly 100% last week, and is up 8% on the day today following last week’s ruling, revealing the asset is not a security. The recent surge to the upside has pushed momentum through a six-year long resistance line, according to the quarterly Relative Strength Index. Will such a high timeframe breakout
For the fourth quarter in a row, Tesla hasn’t sold or added to its digital asset holdings with the electric vehicle manufacturer continuing to hold $184 million worth of its remaining Bitcoin (BTC). In Q2 2023 earnings released on July 19 the net value of Tesla’s Bitcoin holdings stood at $184 million which has held
Cryptocurrency exchanges are finding novel ways to improve internal departments and functions using artificial intelligence, according to Bitget managing director Gracy Chen. Speaking to Cointelegraph editor Zhiyuan Sun during EthCC in Paris, the exchange’s MD highlighted a number of ways in which the exchange is incorporating AI tools into everyday processes. Chen said that the company
United States Securities and Exchange Commission (SEC) Chair Gary Gensler has called for “new tools, expertise, and resources” aimed at addressing misconduct in the crypto space in the regulator’s 2024 budget request. In prepared testimony for a July 19 hearing of the Subcommittee on Financial Services and General Government with the U.S. Senate Appropriations Committee,
Bitcoin (BTC) is still almost a year away from its next block reward halving, but Litecoin (LTC) miners are already bracing for impact. In less than two weeks, Litecoin’s block subsidy will drop from 12.5 LTC to 6.25 LTC per block. Whales stock up on LTC — but BTC value stays weak Despite its fair
After failing to sustain above the resistance of its narrow range, Bitcoin (BTC) fell near a key support on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November to December and
This crypto whale wallet has been dormant for over 8 years and received tokens from Ethereum’s initial coin offering in 2015. The whale moved 61,216 ETH worth $116 million to an unknown wallet and then to an address linked to the crypto exchange Kraken. Ethereum’s ICO sold coins at 31 cents per token, while prices
Bitcoin (BTC) mining’s environmental impact has always been a controversial topic. On the one hand, critics emphasize that securing the Bitcoin network takes more power than some whole countries’ annual electricity consumption. On the other hand, much of the crypto community argues that it is a necessary activity that has enabled the Bitcoin blockchain to
Since 2021, pop superstar Taylor Swift has been rerecording and releasing her entire back catalog of albums in an effort to break away from her previous record label and gain greater control over her art. The fact she has to go through such a painstaking, expensive process just to recover what most would consider rightfully
Two members of the United States House of Representatives have added their names to a list of lawmakers criticizing Securities and Exchange Commission (SEC) chair Gary Gensler’s approach to digital asset regulation. In a letter to Gensler dated July 19, Representatives French Hill and Dusty Johnson suggested legislation was a more effective approach to addressing
The second quarter of the year has been a solid one for Bitcoin’s performance as its market dominance gained against altcoins which “bled” throughout the quarter according to CoinGecko. On July 18, the crypto data aggregator released its industry report for Q2 2023 which noted Bitcoin (BTC) and Ether (ETH) continued to build upon their
An environment of healthy competition is being fostered between the Ethereum (ETH) ecosystem’s top development firms building zkEVMs to scale the network, according to one of Polygon’s co-founders. Jordi Baylina, technical lead of Polygon Hermez zkEVM, spoke to Cointelegraph ahead of the start of EthCC in France. With builders from across the Ethereum ecosystem converging
A wallet address containing pre-mined Ethereum worth $116 million moved its entire stash of 61,216 Ether (ETH) to an address in the Kraken crypto exchange after lying dormant for eight years. In June 2014, the Ethereum ecosystem conducted a sale event, allowing early team members and co-founders to participate and accumulate pre-mined Ether, at a
Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president. Speaking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum or Bitcoin, could help to re-stabilize
Following the legal victory by the digital payment network, Ripple, Representative Ritchie Torres has written a letter to the US Securities and Exchange Commission (SEC) urging them to reconsider their approach to regulating cryptocurrencies. The letter, addressed to SEC Chair Gary Gensler, highlights the recent decision by Judge Analisa Torres of the Southern District of
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