The sanctions against several well-known individuals and hacking groups came just hours after S. Korea announced a joint cyber venture with U.S. intelligence agencies against ransomware threats.
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Bitzlato co-founder released from brief arrest and questioning: Report
The co-founder of cryptocurrency exchange Bitzlato was briefly detained for questioning in Moscow at the request of Interpol, after which he was released.
Ethereum price risks 20% correction amid SEC's crackdown on crypto staking
Ethereum may experience a drop in user activity alongside ETH price with crypto staking in the crosshairs of the SEC.
Ethereum price risks 20% correction amid SEC’s crackdown on crypto staking
Ethereum’s native token, Ether (ETH), saw its worst daily performance of the year as the United States Securities and Exchange Commission (SEC) stopped Kraken, a cryptocurrency exchange, from offering crypto staking services.
On Feb. 9, Kraken agreed to pay $30 million to settle the SEC’s allegation that it broke securities rules by offering crypto staking services to U.S. retail investors.
In particular, the news pushed down the prices of many proof-of-stake (PoS) blockchain project tokens. Ethereum, which switched to a staking-based protocol in September 2022, also suffered.
On Feb. 9, ETH’s price plunged nearly 6.5% to around $1,525, the largest single-day decline since Dec. 16 of last year.
ETH/USD daily price chart. Source: TradingView.comWill Ethereum staking survive the SEC crackdown?
The SEC's crackdown on crypto staking begins as Ethereum awaits the release of its key network upgrade, dubbed Shanghai, in March.
Stablecoin issuer Paxos reportedly probed by New York regulators
Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department of Financial Services (NYDFS).
A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear.
An NYDFS spokesperson declined to comment on ongoing investigations but noted that the department is broadly working to protect consumers from risks associated with investing in the cryptocurrency market:
“The department is in continuous contact with regulated entities to understand vulnerabilities and risks to consumers and the institutions themselves from crypto market volatility we are experiencing.”
Paxos has issued BUSD — a U.S. Dollar-collateralized stablecoin — since the firm struck a partnership with Binance in September 2019. It is the third largest stablecoin, with a market cap currently exceeding $16 billion.
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.
Bitcoin price more correlated to FTX developments than macro events: Research
While inflation has an effect on the price of Bitcoin, researchers were bewildered by bitcoins resilience to other macroeconomic factors.
BTC miner CleanSpark on the hunt for further crypto miner fire sales
The mining firm is not fearful of the bear market and plans to “pick off infrastructure and assets at good deals” this year.
‘Agent of an anti-crypto agenda’ — Community slams Gensler over Kraken crackdown
SEC's recent charges against crypto exchange Kraken over its staking program have sent tremors through the crypto industry.
‘Agent of an anti-crypto agenda’ — Community slams Gensler over Kraken crackdown
SEC's recent charges against crypto exchange Kraken over its staking program have sent tremors through the crypto industry.
‘Kraken Down’ — SEC commissioner rebukes own agency over recent action
"Today, the SEC shut down Kraken’s staking program and counted it as a win for investors. I disagree and therefore dissent," said commissioner Hester Pierce.
Ethereum co-founder Joe Lubin says no chance ETH is classed as security
The ConsenSys founder and Ethereum co-founder said it’s as unlikely as ride-sharing service Uber becoming illegal.
Ethereum co-founder Joe Lubin says no chance ETH is classed as security
The ConsenSys founder and Ethereum co-founder said it’s as unlikely as ride-sharing service Uber becoming illegal.
Mississippi senate passes bill to protect cryptocurrency miners from discrimination
The state already has crypto miners, the bill to protect them still has to pass the house of representatives and be signed by the governor.
Rocket Pool's Ethereum staking service reaches $1B in TVL
The milestone comes less than two years after the launch of its mainnet.
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between […]
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
China airdrops 180 million digital yuan to celebrate Lunar New Year
According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between Jan. 22 and Feb. 5. Nearly 200 digital yuan activities were launched during the festival, and commercial institutions also participated in these promotions, covering various sectors such as mobile communications, supermarkets, transportation and tourism.
Data from Meituan, a popular Chinese food delivery platform, showed that its 20 million digital yuan vouchers given out in partnership with the city of Hangzhou government were claimed in less than 10 seconds. China has prioritized the development of its central bank digital currency (CBDC) as part of its digital economy transformation, with numerous local party officials receiving key performance indicator targets regarding their efforts to promote the currency.
China’s state-owned television also hosted a metaverse event for its Lunar New Year program this year. Source: FuXi.Asia-Pacific crypto exchanges donate to Turkey
In an act of international solidarity, cryptocurrency exchanges operating from several countries in the Asia-Pacific region were quick to react to a series of devastating earthquakes that struck Turkey and Syria on Feb. 6, with death tolls exceeding 12,000 at the time of publication. Singaporean exchange OKX said it would donate 1 million lira to the relief effort, while Binance stated it would airdrop $100 in BNB to Turkish users with addresses listed in the affected region. Cryptocurrency exchange MEXC Global also announced it would donate 1 million lira to help with earthquake relief. Meanwhile, Justin Sun, an adviser at crypto exchange Huobi Global, pledged 2 million lira for relief efforts. Donations are currently not available to Syrian residents due to sanctions.
“While the [proof of address] method has its limitations and inaccuracies, it is the best method we have available for us to locate potentially impacted users. We estimate the total donations will be around $5 million USD (or 94,000,000 TRY),” Binance stated.
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
China airdrops 180 million digital yuan to celebrate Lunar New Year
According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between Jan. 22 and Feb. 5. Nearly 200 digital yuan activities were launched during the festival, and commercial institutions also participated in these promotions, covering various sectors such as mobile communications, supermarkets, transportation and tourism.
Data from Meituan, a popular Chinese food delivery platform, showed that its 20 million digital yuan vouchers given out in partnership with the city of Hangzhou government were claimed in less than 10 seconds. China has prioritized the development of its central bank digital currency (CBDC) as part of its digital economy transformation, with numerous local party officials receiving key performance indicator targets regarding their efforts to promote the currency.
China’s state-owned television also hosted a metaverse event for its Lunar New Year program this year. Source: FuXi.Asia-Pacific crypto exchanges donate to Turkey
In an act of international solidarity, cryptocurrency exchanges operating from several countries in the Asia-Pacific region were quick to react to a series of devastating earthquakes that struck Turkey and Syria on Feb. 6, with death tolls exceeding 12,000 at the time of publication. Singaporean exchange OKX said it would donate 1 million lira to the relief effort, while Binance stated it would airdrop $100 in BNB to Turkish users with addresses listed in the affected region. Cryptocurrency exchange MEXC Global also announced it would donate 1 million lira to help with earthquake relief. Meanwhile, Justin Sun, an adviser at crypto exchange Huobi Global, pledged 2 million lira for relief efforts. Donations are currently not available to Syrian residents due to sanctions.
“While the [proof of address] method has its limitations and inaccuracies, it is the best method we have available for us to locate potentially impacted users. We estimate the total donations will be around $5 million USD (or 94,000,000 TRY),” Binance stated.
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between […]
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between […]