Latin America has shown a strong preference for centralized exchanges when it comes to cryptocurrency trading, according to a report by blockchain analytics firm Chainalysis. The region ranks seventh in terms of its crypto economy, with countries like Venezuela and Colombia leading the way in centralized exchange usage. Venezuela, in particular, has a 92.5% preference […]
Grayscale’s recent legal victory against the US Securities and Exchange Commission (SEC) in its bid for a spot Bitcoin ETF is a significant milestone for the cryptocurrency industry. The court criticized the SEC for its arbitrary rejection of Grayscale’s application, instilling optimism among investors. This ruling brings the industry one step closer to the first-ever […]
One of the developers behind BitVM, a Bitcoin-based virtual machine, has clarified that the technology is primarily focused on scaling Bitcoin rather than enabling decentralized finance applications like Ethereum. BitVM aims to increase Bitcoin’s transaction processing capacity and scalability, rather than implementing smart contracts and supporting a multitude of altcoins. The developer, known as Super […]
Headlines proclaiming the death of NFTs have become common in the blockchain industry, but the reality is more nuanced. While it’s true that many NFTs are worthless, this is not surprising given the history of other tokens in the crypto market. Most ICO tokens from the 2017 bull market and DeFi protocol tokens from the […]
Bitcoin’s failure to reach $100,000 during the 2021 bull market may have been due to market manipulation by defunct exchange FTX, according to analysis. Testimony in the trial of former FTX CEO Sam Bankman-Fried revealed that FTX executives sold BTC using customer funds, potentially adversely affecting the entire bull run. The scale of these operations […]
In his opening statement, Cohen revealed that Bankman-Fried, the majority owner of Alameda, had placed his trust in Ellison, the CEO, to handle the day-to-day operations of the company. However, when a downturn was anticipated, Bankman-Fried urged Ellison to implement a hedge to protect against potential losses. Unfortunately, Ellison did not take action at the […]
Stuart Alderoty, Chief Legal Officer of Ripple, has commented on the recent court victories against the SEC, stating that they have provided clarity for XRP in the US. The rulings have classified XRP as a non-security, a significant win for the cryptocurrency. However, Alderoty believes that the US still needs to establish comprehensive regulations for […]
The spot trading volume of Coinbase, one of the largest crypto exchanges in the United States, has experienced a significant decline, dropping by over 50%. This decline indicates a shift in interest in crypto trading. According to analysis from digital asset data provider CCData, Coinbase recorded approximately $76 billion in spot trading volume for the […]
ARK Invest has updated its proposal for a spot Bitcoin ETF in response to criticisms from the U.S. Securities and Exchange Commission (SEC). The amendment addresses concerns regarding accounting methods, risk valuation techniques, and surveillance-sharing arrangements. The updated application highlights Coinbase’s custodial practices, stating that the fund’s assets are held in segregated addresses on the […]
The Federal Open Market Committee (FOMC) has reaffirmed its commitment to higher interest rates, signaling the possibility of another rate increase in the near future. Despite a complex economic environment characterized by elevated inflation and slowing job gains, the FOMC remains optimistic about the strength of the labor market and the pace of real GDP […]
