Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement. On Nov. 8, Emmer attached an amendment to HR 4664 — the Financial Services and General Government Appropriations Act, or federal budget. The amendment, which has passed unopposed, prohibits the
Month: November 2023
Chainlink’s LINK (LINK) token experienced a remarkable 26% surge between Nov. 2 and 8, approaching $14, a level not seen since April 2022. This solidified its position as the 10th largest cryptocurrency (excluding stablecoins) by market capitalization. While the price action is a welcome sight for traders, is Chainlink’s current valuation of $8.1 billion justified?
In this week’s newsletter, we dive into the dynamic world of nonfungible tokens (NFTs) and their impact on the digital landscape, as NFT sales have skyrocketed to an impressive $129 million in November, according to data from Nansen. Despite the surge in sales, OpenSea has laid off a substantial amount of staff as it prepares
Lido’s governing body has approved the deployment of Lido’s Wrapped Staked Ether (wstETH) to Coinbase’s Base network, according to a Nov. 8 announcement. The token is now live and can be traded or used in decentralized finance (DeFi) applications on the Base network. Lido is on @BuildOnBase You can now bridge your staked ETH to
Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new
The Ripple Swell Conference 2023 has barely started and the first major news has already been released. The fintech company has announced the rebrand of its flagship product RippleNet and the expansion of its partnership with leading payments fintech Onafriq, previously MFS Africa. RippleNet Becomes Ripple Payments On the first day of the Swell conference,
The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation. Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoin backed by a currency that is fully redeemable
Janice McAfee, the widow of tech impresario John McAfee, is still in the midst of grief. She is doing “odd jobs to feed herself,” has run out of funds, and still doesn’t know what really happened to her husband. Since the death of crypto guru and antivirus pioneer husband John McAfee in a Barcelona prison
Central banks have a responsibility to keep pace with the digital age and lead innovation, Agustín Carstens, general manager of the Bank for International Settlements (BIS), believes. In his opening remarks at a conference in Basel, Switzerland, on Nov. 8, Carstens called central bank digital currencies (CBDCs) the “central element” of this leadership, elaborating on
Cardano has come under fire from critics for delays in the rollout of features and network upgrades. This slower-paced cadence, however, appears to be a badge of honor to Cardano Foundation CEO Frederick Gregaard, who said that the network is “boring,” considering the platform’s academic approach. “Cardano is boring. We are boring because we are
A new crypto-lending platform dubbed Tokenet says it will service what it expects to be an influx of institutional clients following the potential United States approval of spot Bitcoin (BTC) exchange traded fund (ETF). The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald who since joined a
As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billion new returns, it seems the Department
The long-awaited “crypto spring” may be upon us as Bitcoin (BTC) and other cryptocurrency markets rise in anticipation of a full-on bull market. Over the recent crypto winter, many different projects have been growing, gaining users and building new networks. Some of these, like Polygon, are layer-2 (L2) solutions to help scale the primary protocol,
Data from Glassnode suggests that Bitcoin (BTC) is in an accumulation pattern with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders cohort rise. As Bitcoin’s supply tightens, available BTC is being purchased by smaller, long-term holding entities. Bitcoin accumulation among a majority of investor cohorts
Who is this person anyway? Irene Zhao, the Simp-Queen mastermind behind the SO-COL platform and a Crypto Twitter influencer, explains that having a celebrity in your corner can turbocharge your NFT collection. Zhao’s first Simp DAO and NFT collection, IreneDAO, started with a floor price that was basically pocket change in ETH. “I think it
Coinbase has expanded its Global Advisory Council with four national security experts, it announced on Nov. 7. The new members will help the cryptocurrency exchange assess the impact of regulatory uncertainty in the United States. The Coinbase council will take on a decidedly more strategic tone with the new members. Mark Esper is a former
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