Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: Aave community member Marc Zeller proposed halting the BUSD lending market on Ethereum.Zeller argued that the Paxos-issued stablecoin was bound to decline in supply and inability to mint new tokens would affect peg arbitrage opportuniti...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: Paxos will wind down its relationship with Binance for the BUSD stablecoin.BUSD redemptions will continue till at least February 2024 but no new tokens will be minted following an order from the New York Department of Financial Services...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: Paxos was ordered to stop minting Binance USD (BUSD) by the New York Department of Financial Services.The order coincided with the SEC’s plans to sue Paxos for selling unregistered securities in BUSD.CEO of the crypto exchange, Ch...
Cryptocoins News / EthereumWorldNews - 1 year ago
Paypal has stopped working on its upcoming stablecoin due to the recent crackdown on crypto by U.S. regulators.& The fintech giant had partnered with Paxos for its stablecoin.& Paxos is facing a probe by the New York Department of Financial...
Cryptocoins News / EthereumWorldNews - 1 year ago
A report by the Wall Street Journal revealed that Cantor Fitzgerald oversees Tether’s bond portfolio.& The $39 billion bond portfolio backs more than half the USDT stablecoin in circulation.& The firm has maintained secrecy around the manage...
Cryptocoins News / EthereumWorldNews - 1 year ago
The SEC’s crackdown on centralized staking services has induced volatility in liquid staking tokens.& Traders poured into DeFi staking due to the uncertainty surrounding the future of staking in the U.S.Top liquid staking governance tokens soare...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: SEC Commissioner Hester Pierce disagreed with the regulator’s move to shut down Kraken’s staking service.Pierce noted that the decision was not a fair way of regulating the crypto industry and that digital asset staking models dif...
Cryptocoins News / EthereumWorldNews - 1 year ago
3AC founders Su Zhu and Kyle Davies are launching a new crypto exchange in partnership with Coinflex. Open Exchange (OPNX) will allow users to trade their claims against bankrupt crypto firms like Celsius, FTX, and 3AC. The new exchange aims to tap...
Cryptocoins News / EthereumWorldNews - 1 year ago
LocalBitcoins has announced that it will shut down its platform this month.& The Bitcoin exchange cited the ongoing crypto winter as the reason for this move.& Users will be able to withdraw their funds from the platform over the next 12 mon...
Cryptocoins News / EthereumWorldNews - 1 year ago
Tether reported a $700 million profit in the last quarter of 2022.The USDT issuer no longer holds commercial paper in its reserves.& The latest attestation report from its auditor revealed that the firm’s assets exceeded its liabilities.&a...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: JP Morgan analysts expect the ratio of staked Ether to move towards the 60% average on other Proof-of-Stake blockchains.The bank added that yield returns could dip while the number of validators on Ethereum should increase to over 2 mil...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: Robinhood plans to buy back nearly $600 million worth of shares owned by the FTX Founder.Sam Bankman-Fried scooped the shares back in May 2022 through a holding company – Emergent Fidelity Technologies.The 55 million shares have b...
Cryptocoins News / EthereumWorldNews - 1 year ago
Kraken is reportedly facing a probe by the SEC over the sale of unregistered securities.& The securities regulator is probing whether the exchange violated securities law while offering certain tokens.& The probe is at an advanced stage with...
Cryptocoins News / EthereumWorldNews - 1 year ago
Yuga Labs’ recently launched Dookey Dash has witnessed rampant cheating among players.& The skill-based game is reportedly filled with boosters who manipulate the leaderboards with unethical methods.& Players are paying boosters as much as $...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: The blockchain-powered sports fan token launched its own layer 1 decentralized network on Tuesday.Chiliz’s L1 chain is compatible with the Ethereum Virtual Machine program, allowing developers to broadcast smart contract codes on...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: Lawyers for Three Arrows Capital (3AC) said Davies and co-founder Su Zhu ignored the court subpoena served on Twitter in January while remaining active on social media.Davies and Zhu have been AWOL since 3AC went bust in 2022 following t...
Cryptocoins News / EthereumWorldNews - 1 year ago
Ishan Wahi, an ex-Coinbase product manager, has pleaded guilty to insider trading charges.& Wahi initially pleaded not guilty to the wire fraud charges filed by the U.S. Department of Justice.Lawyers representing Wahi had filed a motion yesterda...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: Gary Gensler’s SEC rejected Grayscale’s Bitcoin exchange-traded fund application citing fraud and market manipulation concerns.The digital asset manager sought regulatory permission to switch its BTC spot trust index to an E...
Cryptocoins News / EthereumWorldNews - 1 year ago
AI-related crypto tokens like Fetch.ai (FET) and Ocean Protocol (OCEAN) have rallied more than 20% over the past 24 hours. The daily trading volumes of the top three AI-related tokens have increased by an average of 935% in a week.The rising popular...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: DCG has started selling assets held by Grayscale, the Financial Times reported.Recent SEC filings show that most of its holdings sales have come from the company’s Ethereum fund.The group hopes to raise cash to meet more than $3 billion...
Cryptocoins News / EthereumWorldNews - 1 year ago
The Digital Currency Group (DCG) and Genesis have reached an in-principle agreement with the conglomerate’s main creditors.& The deal involves the sale of bankrupt Genesis entities and winding down its loan book.& DCG’s controversial $1.1 bi...
Cryptocoins News / EthereumWorldNews - 1 year ago
Binance is suspending USD deposits and withdrawals using bank accounts.& The suspension will come into effect on 8 February (Wednesday) and is expected to last for a couple of weeks.& USD bank transfers will resume when the exchange secures...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: The move was suggested by U.S. Trustee Andrew Vara and supported by a host of regulators at the State level.FTX bankruptcy CEO John Ray III and the Official Committee of Unsecured Creditors opposed the move, instead siding with an inter...
Cryptocoins News / EthereumWorldNews - 1 year ago
Summary: The South Korean watchdog updated what assets are considered securities and clarified the regulations governing such tokens.Regulators said the Capital Markets Act would oversee certain types of cryptos as part of a broader effort to st...
Cryptocoins News / EthereumWorldNews - 1 year ago
CFTC Chairman Rostin Benham expects 2023 to be a strong year of crypto enforcement actions.& The commodities regulator plans to grow its enforcement team with a budget increase.& Benham plans to use all the power at his disposal to go after...
