Offering low fees and fast transaction finality, Polygon has emerged as the primary blockchain platform for various NFT marketplaces.
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Groceries to luxury cars: The state of crypto adoption in Dubai
Cointelegraph visited a grocery store and a luxury car club to learn how crypto has been adopted in Dubai.
BIS-funded regulator to probe DeFi entry points like stablecoins
Despite providing many novel services, DeFi does not differ substantially from traditional finance in its functions, the Financial Stability Board stated.
Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals
The U.S. Securities and Exchange Commission (SEC) wants to sue Paxos for issuing and listing stablecoin Binance USD (BUSD) to the benefit of its top-rival stablecoin Tether (USDT), whose market capitalization has risen to multi-month highs.
BUSD market cap drops by $2 billion
The SEC asserts that BUSD, a U.S. dollar-backed stablecoin, is a security, noting that Paxos has violated investor protection laws by white-labeling it.
Related: Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Since Feb. 13 when the news broke, the BUSD market cap has lost roughly $2 billion, down to around $14 billion as of Feb. 16 — the lowest since January 2022.
BUSD circulating supply. Source: MessariAs Cointelegraph reported, Binance has seen its withdrawals and BUSD redemptions surge post-Paxos crackdown.
Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals
The United States Securities and Exchange Commission (SEC) plans to sue Paxos for issuing and listing its Binance USD (BUSD) stablecoin, benefitting its top-rival, Tether (USDT), whose market capitalization has risen to multimonth highs.
BUSD market cap drops by $2 billion
The SEC claims that BUSD, a U.S. dollar-backed stablecoin, is a security, noting that Paxos has violated investor protection laws by white-labeling it.
Related: Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
Since Feb. 13, when the news broke, the BUSD market cap has lost roughly $2 billion, down to around $14 billion as of Feb. 16 — the lowest since January 2022.
BUSD circulating supply. Source: MessariAs Cointelegraph reported, Binance has seen its withdrawals and BUSD redemptions surge post-Paxos crackdown.
European Union discusses using zero-knowledge proofs for digital IDs
The proposition to use zero-knowledge proofs was approved by the EU Committee and may become part of the updated legislation.
Bitcoin single-day price surge linked to billions in USDC inflow
Bitcoin proponents called it the start of another bull run, while a few other analysts believe it's a bear trap.
Bitcoin single-day price surge linked to billions in USDC inflow
The Bitcoin (BTC) price rose to a new six-month high of $24,800 on February 16, registering a double-digit surge of 15%.
The prolific single-day Bitcoin price surge took many by surprise, given February has been historically bearish for the top cryptocurrency. BTC price rose by $1,820 in a single day, making it the biggest green day for the top cryptocurrency in six months.
One-Day Bitcoin price chart. Source: TradingviewMany people attributed the BTC price surge to a number of factors, including a rise in dollar value and declining inflation. On-chain data indicates the current price momentum can be traced back to a mysterious fund that started pouring money into the crypto market on Feb. 10.
According to data shared by Lookonchain, nearly $1.6 billion in institutional funds have flowed into the crypto market over the past six days. The majority of the $1.6 billion fund flowed in the form of stablecoins, especially Circle-issued USD Coin (USDC). The owner of the funds first withdrew their USDC from Circle and then sent it to various exchanges.
USDC withdrawal from Circle. Source: LookonchainThere were three notable wallets whose funds were traced from Circle to various exchanges. First, a wallet address starting with “0x308F" withdrew 155 million USDC from Circle and transferred to exchanges since Feb 10. The second wallet address starting with "0xad6e" withdrew 397 million USDC from Circle and sent it to various exchanges, and a third wallet starting with “0x3356” withdrew 953.6 million USDC from Circle and transferred to exchanges in the same time frame.
Bitcoin single-day price surge linked to billions in USDC inflow
Bitcoin proponents called it the start of another bull run, while a few other analysts believe it's a bear trap.
Wyoming lawmakers pass bill to prevent forced disclosure of private keys
The only exception to the law will be where the public key is unavailable to disclose details of the digital asset, digital identities, interest or right.
Wyoming lawmakers pass bill to prevent forced disclosure of private keys
The only exception to the law will be where the public key is unavailable to disclose details of the digital asset, digital identities, interest or right.
Ex-Stanford dean says SBF’s parents helped his family battle cancer
One of the previously undisclosed guarantors of Sam Bankman-Fried’s bond told Cointelegraph why he helped out the former FTX CEO.
Binance readies checkbook for potential fines from US regulators: Report
The world’s largest crypto exchange wants to resolve outstanding investigations with U.S. regulators.
Galaxy Digital CEO ‘wouldn’t be surprised’ if Bitcoin hit $30K this quarter
Recent positive Bitcoin price action has been linked to a slowdown of U.S. inflation, Mike Novogratz thinks the price rally could sustain until the end of March.
SEC proposes tougher rules as part of its crypto custody crackdown
The new proposals set forth by the Gensler-led SEC seek to “expand the scope” of rules set out by the 2009 Custody Rules.
Sam Bankman-Fried may no longer be allowed to play League of Legends
Sam Bankman-Fried is, for the most part, still able to freely access the internet through various devices. Prosecutors want to change that.
The SEC shook Kraken down for $30M, but it doesn't mean they had a case
Kraken agreed to a settlement with the SEC, but that didn’t change the law. Staking does not constitute a security.
US lawmakers reintroduce bill to remove roadblocks for crypto investments in retirement accounts
Four Republican senators have signed on to a bill aimed at barring the U.S. Department of Labor from investigating individuals “using brokerage windows to invest in cryptocurrency.”
FDIC warns CEX.IO and its reviewers to remove potentially false claims about insurance
The U.S. federal agency found a claim about deposit insurance in the fine print on the exchange’s website and on websites that reviewed it.
Abu Dhabi to back the growth of Web3 startups with $2B
The initiative promises to provide Web3 startups with access to corporate, government, and investment partners in both global markets and the UAE.