The United States Securities and Exchange Commission (SEC) is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken over the centralized staking program offered to its users. The news of the crackdown sent Bitcoin (BTC) price to a 3-week low as investors became fearful of
Two members of the United States House Financial Services Committee have call out Securities and Exchange Commission Chair Gary Gensler “regarding the timing of the charges filed against FTX founder Sam Bankman-Fried” based on his scheduled appearance at a hearing. In a Feb. 10 notice, committee chair Patrick McHenry and Representative Bill Huizenga, who chairs
The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken CEO Jesse Powell urged Congress to pass a
On Feb. 9, United States Securities and Exchange Commission (SEC) chair Gary Gensler explained why the regulator had cracked down on Kraken cryptocurrency exchange, forcing it to stop its crypto staking program for U.S. clients. This news may have rattled crypto investors and they sold aggressively. Bitcoin (BTC) crashed about 5% on Feb. 9 and several
Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or
Solana slipped to a three-week low on Feb.10, as momentum in cryptocurrency markets remained firmly bearish. At the time of writing this, the global market cap is trading 4.23% lower, with bears recapturing sentiment. Cardano was also on the decline, falling by as much as 8% today. Solana (SOL) Solana (SOL) prices plunged during today’s
In the latest episode of NFT Steez, Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, discusses the integration of interoperability in Web3 and the Metaverse. By definition, interoperability is a feature of Web3 whereby a product or system can work seamlessly across platforms with other products or services. Webb defines interoperability simply
Bitcoin (BTC) saw no relief at the Feb. 10 Wall Street open as United States equities dipped further. “All eyes” on 200-day moving averages Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tracked sideways following a volatile 24 hours of trading. Existing market weakness was compounded by an announcement from U.S. regulators
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time
United States Securities and Exchange Commission chair Gary Gensler issued a warning to crypto companies to “come in and follow the law” after the agency announced a settlement with crypto exchange Kraken. Appearing on CNBC’s ‘Squawk Box’ on Feb. 10, Gensler said crypto exchanges should register with the SEC in order to be compliant with
Amid Coinbase cryptocurrency exchange standing up for crypto staking and economic freedom, the online community has also urged the company to support XRP (XRP). On Feb. 9, Coinbase’s chief legal officer Paul Grewal claimed that Coinbase’s staking program is not affected by rival exchange Kraken shutting down its staking services. The executive argued that Kraken’s
A Russian national accused of processing cryptocurrency payments from ransomware attacks has pleaded guilty to money laundering in the United States. The man who was extradited from the Netherlands in mid-August, last year, will be sentenced in April. Russian Crypto Launderer Pleads Guilty in US Court, May Get Up to 20 Years in Prison An
The coinbase transaction’s value is based on factors such as each individual transaction’s value, block height, and halving. Miners can add any customizable text to the blocks they have created. The value of a coinbase transaction is determined by several factors. These include the value of every transaction validated by the block, the height of
The Virtual Asset Regulatory Authority (VARA) recently provided the much-awaited guidelines for virtual asset service providers (VASPs) in Dubai, United Arab Emirates, which included a ban on privacy coins. On Feb. 7, VARA released several rulebooks for VASPs including the “Virtual Assets and Related Activities Regulations 2023” in which VARA mentioned a prohibition on privacy
Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through mining are used for a wide range of purposes, including energy production, construction and manufacturing. Mining can take many forms, including
Bitcoin moved below $22,000 on Friday’s session, as sentiment in cryptocurrency markets remained bearish. Volatility in markets has risen in recent days, following comments from U.S. Fed Chair Jerome Powell, who hinted at ongoing rate hikes. Ethereum also dropped, falling under $1,600. Bitcoin Bitcoin (BTC) extended recent declines on Friday, with prices falling below the
Global payment giant PayPal holds a significant part of its financial liabilities in cryptocurrencies such as Bitcoin (BTC) offered to its customers. As of Dec. 31, PayPal held a total of $604 million in various cryptocurrencies, including Bitcoin, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the annual report filed with the United
Yesterday’s news revolving around the U.S. Securities and Exchange Commission’s enforcement action against Kraken has once again flushed great uncertainty into the crypto market, but Ripple CEO Brad Garlinghouse has pointed to the positive developments around the world. Garlinghouse cited a total of five encouraging crypto regulatory news stories worldwide – all in markets where
Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000. Crypto wipeout mounts as BTC price loses $22,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $21,633 on Bitstamp. The pair reacted badly to regulatory fears from the United States but had already
South Korea announced its first independent sanctions related to cryptocurrency thefts and cyber attacks against certain North Korean groups and individuals. According to Seoul’s Ministry of Foreign Affairs, four North Korean individuals and seven businesses have been placed on a blacklist for their alleged involvement in cyberattacks and cryptocurrency theft. The blacklisted individuals include the