The recent vote in the US House of Representatives regarding HJ Res. 109 to rescind SEC Staff Accounting Bulletin (SAB) 121 ended in a disappointing outcome. While 228 House members voted in favor of ending SAB 121, 184 voted against the resolution and 21 abstained. This majority support was still insufficient to overturn the bulletin,
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In a recent development, the US Securities and Exchange Commission (SEC) has officially closed its investigation into stablecoin issuer Paxos. This decision comes after over a year of uncertainty surrounding Paxos and its role in the issuance of the Binance USD (BUSD) stablecoin. On July 11, Paxos made an announcement revealing that they had received
Bitcoin (BTC) recently broke above its bearish trendline, sparking optimism among traders and investors. With a market capitalization of over $1.1 trillion and a trading volume of more than $24 billion, BTC is currently trading at around $58,119, down by 1.37% in the last 24 hours. Despite this slight dip, the digital asset is showing
Recent data has revealed a significant shift in the relationship between Bitcoin and US stocks. The flagship cryptocurrency has completely detached from the Nasdaq 100 and S&P 500, with a correlation of -0.78 and -0.83, respectively. This strong negative correlation indicates that Bitcoin and these assets are now moving in opposite directions. The decline in
In a landscape filled with challenges, DWF Labs, a prominent Web3 market maker and investment firm, has set forth ambitious plans for continued growth and innovation. The firm’s recent launch of a new website serves as the initial step in its dedication to greater transparency and fair market practices. In 2023, DWF Labs received acknowledgment
Bitcoin, the leading cryptocurrency in the market, recently experienced a setback in its upward trajectory as its price surge towards $60,000 was halted. The digital asset has now retraced back to just over $58,000 after a minor pullback in the past 24 hours. In the midst of Bitcoin’s price fluctuation, some altcoins have emerged as
Binance, the world’s largest cryptocurrency exchange, recently announced that it will be suspending deposits and withdrawals for all networks on July 17 for approximately one hour. This scheduled wallet maintenance is necessary for ensuring the stability of the network. It is important to note that trading services will remain unaffected during this brief period. The
Recently, Canadian musician and actor Drake, known for his love of sports betting, made a hefty wager of $300,000 worth of Bitcoin on Canada to beat Argentina in the Copa America semi-final. Despite being the underdog with odds of 9.60, Canada failed to clinch the victory, resulting in Drake losing a substantial amount of money.
Recently, wallets connected to the CoinStats exploit were found to have moved nearly $1 million in Ether into the crypto mixing protocol Tornado Cash. This comes as a concerning development, especially given the security breach reported by CoinStats in June which affected a significant number of users. Two wallets linked to the CoinStats exploit transferred
Recent on-chain data has revealed a significant transfer of 11,215 ETH ($34.3 million) by an Ethereum whale to the crypto exchange Coinbase. This transaction has sparked fear and panic among community members, as such a large transfer could potentially indicate that the whale is looking to offload their holdings. The magnitude of this transaction suggests
The Commodity Futures Trading Commission (CFTC) chair Rostin Behnam has expressed a willingness for the agency to become a primary regulator for cryptocurrencies. This statement was made during a recent Senate Agriculture Committee hearing focused on digital commodities oversight. The discussion revolved around the CFTC’s request for expanded regulatory authority in the realm of cryptocurrencies.
Blockchain technology has taken a significant step forward with the introduction of a new web application by ShardLab, the blockchain arm of Hashed. This innovative application is designed to simplify decentralized identity (DiD) and NFT voucher distribution, providing enhanced security and usability for everyday transactions. By incorporating technologies like account abstraction (AA) and zero-knowledge proofs
The world of Ethereum 2.0 staking has been abuzz with excitement as it recently hit a major milestone. The deposit contract for staking Ethereum on the Beacon Chain has soared to an all-time high of 47.36 million ETH this week. This figure represents a whopping 33.9% of the entire supply of Ethereum, showcasing the growing
In a bid to enhance security in the cryptocurrency sector, Kraken recently announced the co-founding of the Blockchain Security Standards Council (BSSC) with other major industry players. The move comes at a crucial time when security threats such as fraud, nation-state cyberattacks, and protocol exploitation are increasing within the crypto industry. The BSSC aims to