Warren's letter urges OCC to collaborate with Fed and FDIC to develop an alternative cryptocurrency approach “that adequately protects consumers and the safety and soundness of the banking system.”
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Nansen admits neglecting DeFi plans during the NFT craze
Nansen has registered over 130 million addresses and has grown 30% despite the crypto downturn in 2022.
Major hacks in play-to-earn crypto games a ‘matter of time’ — Report
According to a cybersecurity auditing firm, GameFi projects are putting "profits above security" and pose a great risk to the projects and its users.
Swiping left: Tinder pulls back on Metaverse dating plans
Disappointing financial results have seen Tinder lay off its current CEO, slash funding to metaverse development, and ditch plans for its virtual currency Tinder Coins.
Bitcoin may behave more like US Treasury bonds: Bloomberg Intelligence
Bitcoin markets will behave more like that of Treasury bonds and gold during market recovery, said the analysts.
$2B in crypto stolen from cross-chain bridges this year: Chainalysis
The $190 million Nomad Bridge exploit is just the latest out of 13 separate bridge attacks in 2022 so far.
Winnipeg police get provincial funding to beef blockchain forensics unit
The Winnipeg police service received money from the Criminal Property Forfeiture Fund to provide training through the Cryptocurrency Tracing Certified Examiner course.
Victorian police to get 'greater power' to seize crypto assets from criminals
Victorian Police in Australia will soon be granted new powers to seize cryptocurrency and digital assets from criminals, as well as compel platforms to hand over information about suspects.
According to a statement released by Victorian premier Daniel Andrews on Aug. 2, new laws were introduced to parliament on Tuesday under the Major Crime and Community Safety Legislation Amendment Bill 2022, with the aim of cracking down on organized crime in the state.
The new bill is expected to give authorities “greater power” to identify and seize digital assets, in response to the growing use of digital cryptocurrencies by organized crime.
The laws will uphold also require crypto exchanges disclose information to assist with criminal investigations in the same way that banks would.
“They will be able to compel cryptocurrency platforms to hand over information about suspects like banks currently must, and seize digital ‘wallets’.”
Victorian police to get 'greater power' to seize crypto assets from criminals
The new bill will also compel cryptocurrency exchanges to hand over information that could assist police in criminal investigations.
Victorian police to get 'greater power' to seize crypto assets from criminals
The new bill will also compel cryptocurrency exchanges to hand over information that could assist police in criminal investigations.
3 key Ethereum derivatives metrics suggest $1,600 ETH support lacks strength
Data shows Ethereum options traders are less bearish than before, but lower gas fees and smart contract deposits give ETH bulls little hope.
3 key Ether derivatives metrics suggest $1,600 ETH support lacks strength
Ether (ETH) price is up 60% since May 3, outperforming leading cryptocurrency Bitcoin (BTC) by 32% over that span. However, evidence suggests the current $1,600 support lacks strength as network use and smart contract deposit metrics weakened. Moreover, ETH derivatives show increasing sell pressure from margin traders.
The positive price move was primarily driven by growing certainty of the Merge, which is Ethereum's transition to a proof-of-stake (PoS) consensus network. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target date for the Merge. In addition, analysts expect the new supply of ETH to be reduced by up to 90% after the network's monetary policy change, thus creating a bullish catalyst.
Ethereum's total value locked (TVL) has vastly benefited from Terra's ecosystem collapse in mid-May. Investors shifted their decentralized finance (DeFi) deposits to the Ethereum network thanks to its robust security and battle-tested applications, including MakerDAO (MKR) — the project behind the DAI stablecoin.
Total value locked by market share. Source: Defi LlamaCurrently, the Ethereum network holds a 59% market share of TVL, up from 51% on May 3, according to data from Defi Llama. Despite gaining share, Ethereum's current $40 billion deposits on smart contracts seem small compared to the $100 billion seen in December 2021.
Demand for decentralized application (DApp) use on Ethereum seems to have weakened, considering the median transfer fees, or gas costs, which currently stand at $0.90. That's a sharp drop from May 3, when the network transaction costs surpassed $7.50 on average. Still, one might argue that higher use of layer-two solutions such as Polygon and Arbitrum are responsible for the lower gas fees.
Coinbase exec at heart of insider trading scandal pleads not guilty in federal court
Ishan Wahi is accused of divulging confidential information about future listings at Coinbase to his brother and an associate in a case that has attracted the SEC’s attention.
Senators Stabenow, Boozman introduce crypto bill that extends CFTC's regulatory powers
The bill defines digital commodities and requires registration of digital commodities platforms by the CFTC, with language that needs tightening.
Binance pilots NFT ticketing: Nifty Newsletter, July 27–Aug 2
Almost 1 million ETH were spent to mint NFTs on the Ethereum network in the first half of 2022, according to a Nansen report.
MicroStrategy stock MSTR hits 3-month high after CEO's exit
Poor earnings coupled with overvalued fundamental metrics pose long-term bearish risks for MSTR.
MicroStrategy stock MSTR hits 3-month high after CEO's exit
MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor's exit after a depressive quarterly earnings report.
Microstrategy stock up 142% since May lows
On the daily chart, MSTR's price surged by nearly 14.5% to $324.55 per share, the highest level since May 6.
The stock's intraday gains came as a part of a broader recovery that started on May 12 at $134. Since then, MSTR has grown by 142% versus Nasdaq's 26.81% gains in the same period.
MSTR daily price chart. Source: TradingViewBad Q2, Saylor's resignation
The Aug. 3 MSTR rally came a day after MicroStrategy reported a billion dollar loss in its second quarter (Q2) earnings call. Interestingly, the company's major Bitcoin exposure was a large reason for its poor quarterly performance.
To recap: MicroStrategy is an information technology firm that provides business intelligence, mobile software and cloud-based services. But one of its primary corporate strategies is to invest in Bitcoin to hold it long-term.
Bitcoin price battles $23.5K resistance amid relief over Pelosi Taiwan trip
A lack of immediate retaliation from China emboldens U.S. stocks as new research concludes that the market is becoming increasingly "risk-on."
Bitcoin price battles $23.5K resistance amid relief over Pelosi Taiwan trip
Bitcoin (BTC) rose to daily resistance at the Aug. 3 Wall Street open as United States equities gained on relief over Taiwan.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks gain as US dollar coils
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to the area just below $23,500, which had figured as resistance since the start of the month.
The pair had previously held the same zone as support, and was now deciding on whether a new resistance/ support flip was on the cards.
For popular trader Crypto Tony, $23,500 was thus the price to watch to long BTC.
To the downside, fellow trader Pentoshi highlighted the area between $21,800 and $22,000 as the "line in the sand" for BTC.
Price analysis 8/3: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX
Bitcoin and most major altcoins are witnessing buying near strong support levels, indicating a bullish sentiment.