Coinbase CEO Brian Armstrong recently spoke out against the United States Commodity Futures Trading Commission (CFTC), urging them not to take enforcement actions against decentralized finance (DeFi) protocols. Armstrong believes that it is highly unlikely that the Commodity Exchange Act applies to these protocols and suggests that the cases should be taken to court to
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The recent early dismissal of BlackRock’s planned spot Bitcoin exchange-traded fund (ETF) may seem like a setback, but according to Nasdaq executive Giang Bui, it is unlikely to affect the eventual success of the product. While the rejection by the U.S. Security and Exchange Commission (SEC) was based on regulatory procedural issues, it does not
Stablecoin issuer Paxos has recently released the first transparency report for PayPal USD (PYUSD), an Ethereum-based stablecoin. The report has provided insights into the backing of the coin, reassuring users that it is fully backed by assets. As of August 31, 2023, the total tokens outstanding amount to $44.4 million, while the total assets held
The recent hack of over $27 million on the cryptocurrency exchange CoinEx has sent shockwaves through the industry. The attack was recently attributed to the notorious North Korean Lazarus Group, as reported by the blockchain security firm SlowMist on September 13. This revelation sheds light on the increasing threat posed by state-backed actors in the
In a recent court filing, FTX, the crypto exchange currently navigating bankruptcy, has made significant changes to its proposal regarding the sale of its Bitcoin and crypto holdings. These adjustments come as a response to concerns raised by the US Trustee, the bankruptcy branch of the Department of Justice. FTX’s initial proposal, which will be
EmotiCoin (EMOTI) has recently emerged as the breakout on-chain token of the week, showcasing dramatic upside price action driven by its high-octane tokenomics. The market excitement surrounding EmotiCoin can be attributed to its unique Reverse Split protocol, a deflationary mechanism that reduces the total supply every 4 hours over a 14-day period, in 20% increments.
CoinEx, a cryptocurrency exchange, recently announced a security breach on September 12. The incident involved unauthorized transactions and withdrawals from the exchange’s hot wallets, affecting Ethereum (ETH), TRON (TRX), and Polygon (MATIC). While the exact value of the losses is yet to be determined, CoinEx assures its users that their assets are secure and promises
The new financial promotions regulations imposed by the UK Financial Conduct Authority (FCA) are creating significant challenges for crypto firms, according to Delphi Labs general counsel Gabriel Shapiro. In a recent post on X, Shapiro expressed his concerns about the feasibility of strict compliance with these regulations. He believes that only centralized exchanges and a
In a recent report, it has been revealed that Luna, a subsidiary of Digital Currency Group (DCG), is planning to pause certain services in the United Kingdom. This decision comes ahead of new regulations set by the U.K.’s Financial Conduct Authority (FCA) and will have a significant impact on the crypto trading features offered by
In an interview with CNBC on Monday, David Marcus, former President of Paypal and Head of Facebook Payments, expressed his belief that Bitcoin (BTC) is the universal protocol for money on the internet. He emphasized Bitcoin’s significance as the flagship cryptocurrency and its core value as a payment solution while discussing its potential as a
