Category: Top Crypto News

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SEC Postpones Decision On Spot ETF – Top Crypto News

SEC postpones decision on Grayscale and Bitwise Bitcoin Spot ETF to early February

The US Securities Exchange Commission (SEC) continues to delay the physically-backed Bitcoin exchange-traded fund (ETF) from trading. The SEC has extended its review of NYSE Arca’s Bitcoin ETF, named Bitwise Bitcoin ETP Trust, and Grayscale Bitcoin Trust’s Bitcoin ETF. The new deadlines to review two proposals have been shifted to February 2022, as the agency needs more time to review the potential rule change further.

ConsenSys And Mastercard Partner To Release Ethereum Scaling Solution

Consensys and Mastercard have announced the launch of ConsenSys Rollups. The new solution will provide leading financial organizations enterprise-grade scalability, helping them address the key issues and provide “scalability and privacy” capabilities to applications connected to any blockchain compatible with the Ethereum Virtual Machine.

Vkyraire Launches Innovative Balance Sheet Bitcoin Exchange-Traded Fund For Investors

The Valkyrie Funds launched a new exchange-traded fund (ETF) yesterday which manages public firms with bitcoin on the balance sheet. This Balance Sheet ETF aims to give investors exposure to bitcoin by holding firms that directly or indirectly invest in, transact in or hold Bitcoin on their balance sheets.

Ray Dalio Says Bitcoin is Alternative to Gold for younger Generations

In a recent interview with MarketWatch, Dalio, the former crypto-skeptic said “he believes in blockchain technology because it has earned credibility. Regarding investment wallets, Dalio also mentioned that “Bitcoin is almost an alternative to gold for a younger generation”.

NBA Star Kevin Durant Goes Crypto With Coinbase Deal

NBA player Kevin Durant inked a fresh deal with crypto exchange Coinbase to appear as “a face of the brand.” Sequentially, Coinbase will run cryptocurrency ads and sponsored content on Boardroom, Durant’s sports website, and donate to Durant’s charitable foundation to support the youth.

RBI board discusses CBDC, private cryptocurrencies

The central board of the Reserve Bank of India (RBI) discussed issues related to Central Bank Digital Currency (CBDC) and private cryptocurrencies, the RBI said in a press release. This development assumes significance as the Indian government is currently in the process of finalising a national law to regulate cryptocurrencies. The RBI is in the process of rolling out a CDBC, which is a digital form of fiat currency. 

Revenue from crypto scams surges 81% in 2021: Report

As per the Chainalysis’ 2022 Crypto Crime Report, the money collected from crypto-related scams and crimes worldwide touched almost $7.7 billion, surging ~81% over the previous year.  Nearly 37% of the total amount (or $2.8 billion) belonged to “rug pulls” scams taking place in the Defi ecosystem. A rug pull is a type of scam where developers abandon a project and run away with investors’ money.

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SHIB Accepted by VR World – Top Crypto News

Wall Street financial advisor LionTree explores crypto payments

LionTree, a popular financial advisor and investment banking firm, is looking into cryptocurrencies as a payment option. In its year-end letter, Chairman and CEO Aryeh Bourkoff talks about crypto as a potential tool for empowering individuals and explores some of the biggest trends in crypto, such as decentralized finance (DeFi) and nonfungible tokens (NFTs).

HSBC and IBM create successful multi-ledger CBDC demo

HSBC and IBM announced the successful test of an advanced token and digital wallet settlement between two central bank digital currencies, or CBDCs, in a cloud environment. The experiment consisted of transactions between CBDCs, eBonds, and forex. 

‘I’m a huge believer in crypto technology,’ says former US SEC chair

Jay Clayton said that cryptocurrencies have numerous purposes and are connected to a variety of industries, and the SEC should be in charge of regulating only those sectors that are linked to it.

Russia on the verge of imposing ban on Crypto

Russia’s Central Bank is reportedly planning to ban crypto investments. The Bank is now holding serious discussions with the key players.


SHIB accepted by VR World

VR World,  the largest virtual reality experience center in North and South America has announced that it will accept the meme coin as a payment method on its platform.

 

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Cryptos Bounce Back After Fed Signals Interest Rate Hikes – Top Crypto News

Crypto prices bounce back after Fed signals interest rate hikes

The Federal Reserve indicated it would start phasing out its pandemic stimulus program (in which it bought bonds to increase the money supply) quicker than it had planned. The Fed also said it plans to raise interest rates at least three times in 2022. The crypto market has bounced back on the news. Bitcoin surged from below $47,000 to nearly $49,000. Ethereum is currently trading at $4,048, up 4.7% from yesterday.

FED’s Powell doesn’t think crypto risks financial stability

Federal Reserve Chairman Jerome Powell said that he doesn’t view cryptocurrencies as a “financial stability concern”. He stated that crypto does not pose a risk to the American economy, but could be a risk to investors. If stablecoins (cryptos pegged to traditional currencies) were associated with one of the “very large tech networks that exist, crypto payment systems and values could scale up,” said Powell.

Centre may not introduce Crypto Bill in ongoing Winter Session: Report

As per reports, the Centre’s proposed bill on cryptos is unlikely to be brought in the ongoing session of the parliament. Ahead of the Winter Session, the Centre had listed the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, on the official website of the Lok Sabha. Details of the proposed bill had revealed that the suggested regulations will ‘outlaw all private cryptocurrencies’ in India.

UK ad regulator bans Coinbase, Papa John’s, eToro crypto ads

The United Kingdom’s Advertising Standards Authority (ASA) has banned 7 crypto-related promotions as part of a wider focus on potentially harmful crypto ads. The ASA has targeted crypto promotions from Coinbase Europe, eToro, Papa John’s, Luno Money, Exmo Exchange, Payward, and Coinburp. All seven ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment,” the ASA said. 

Crypto ban tough to impose: Geeta Gopinath

International Monetary Fund (IMF) chief economist Gita Gopinath said that cryptocurrencies pose a challenge to emerging economies that have checks on capital flows and foreign exchange. She called for a coordinated global action for regulating them, while suggesting that a ban may be tough to impose.

Michael Jordan joins Web3 via Solana App for Athletes

Michael Jordan and son Jeffrey have revealed HEIR, a Web3 fan engagement platform built on Solana. Jordan revealed plans to launch a fan engagement app platform. The platform is designed to link professional athletes with their most ardent supporters. HEIR has raised $10 million in seed funding and will launch in 2022.

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Bank of Thailand to Release Crypto Guidelines- Top Crypto News

Bank of Thailand will release its crypto regulatory guidelines by 2022

Bank of Thailand wants to release its crypto regulation by 2022. The financial institution is wary of the growing sector. Other countries are making moves to regulate their crypto sector.

Shiba Inu and Other Coins Briefly Surge to Quintillions of Dollars on CoinMarketCap Due to Glitch

Cryptocurrency prices shot into the stratosphere on CoinMarketCap due to a glitch experienced by the website. Bitcoin, Ethereum, Litecoin, Stellar and other top coins reached quintillions of dollars worth of value.

Myanmar’s Parallel Government Elevates USDT To Official Currency to Ease Payments

Myanmar’s shadow government has conferred legal status to USDT in the country. The decision stands in opposition to the crypto ban instituted by the ruling government. USDT’s popularity has soared following its increasing use case amongst cryptocurrency traders.

DogeCoin Soars as Musk Says Tesla Will Accept it for Merchandise Sales

Dogecoin soared 16% Tuesday while Tesla stock traded 2.1% lower in premarket after CEO Elon Musk said the EV-maker will accept the cryptocurrency for merchandise on a test basis.

Witnesses offer differing opinions on approach to stablecoins at congressional hearing

The Senate Committee on Banking, Housing and Urban Affairs heard from several expert witnesses with knowledge of stablecoins who urged lawmakers to establish a clear regulatory framework but could not seem to agree on where lines would be drawn.

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Tesla to Accept Dogecoin for Merch – Top Crypto News

Tesla to accept Dogecoin for merch

Elon Musk took to Twitter and again fueled the rally in Dogecoin through his tweet. He ignited the meme coin as his company, Tesla, was eyeing to make some merchandise buyable with Dogecoins and see the work in progress over it. The largest meme token zoomed 22% to $0.195 from $0.156.

German savings banks want to enable Bitcoin for 50M clients

German savings banks are planning to allow customers to invest in major digital currencies like Bitcoin and Ether directly from checking accounts. Savings banks in German-speaking countries, also known as Sparkassen, are working on a pilot to launch an in-house cryptocurrency wallet and exchange next year.

Bank of England again warns crypto could pose threat to financial system

The Bank of England has warned that the cryptocurrency industry and the risks associated with it may be a danger to the established financial system in time. “The point, I think, at which one worries is when it becomes integrated into the financial system when a big price correction could really affect other markets and affect established financial market players,” Sir Jon Cunliffe, Deputy Bank Governor, told the BBC. 

Healthcare services firm converts some of its balance sheet to $ETH and $SHIB

Ask The Doctor, a Canadian healthcare service firm is continuing to make itself stand out from the crowd by converting more of its balance sheet from fiat to crypto. The company confirmed that it was going to add support for the three most popular dog meme cryptocurrencies: Dogecoin ($DOGE), Shiba Inu ($SHIB), Floki Inu ($FLOKI).

Bitcoin price dip may end Wednesday as Bitfinex bids hint at Fed ‘buy the news’ plans: Report

As per a CoinTelegraph report, Bitcoin could see its last day of downside as buyers line up to cash in on Wednesday’s United States Federal Reserve meeting. The Fed will deliver key information on the future of asset purchases (a form of quantitative easing) as well as inflation at the meeting, and bets are rising about the knock-on impact for both crypto and traditional markets.

Vulcan Forged game hacked, crypto assets worth $140 million stolen

Crypto-gaming ecosystem Vulcan Forged fell prey to a hack attack, losing $140 million (roughly Rs 1,062 crore) worth of users’ crypto assets. Hackers reportedly accessed the keys of 96 wallets, stealing 23.7 percent of the project’s circulating supply of tokens. The gaming ecosystem provides players with these crypto wallets built on Ethereum, Polygon, and VeChain blockchains and manages the key to these wallets.

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Bitcoin Should Be Regulated Globally, Says IMF- Top Crypto News

Prime Minister Modi’s Twitter account hacked in an attempt for scam

Soon after Modi’s Twitter account, with over 73.4 million followers, got hacked, attackers shared misleading information about the mainstream adoption of Bitcoin and a 500 BTC giveaway.

Bitcoin should be regulated globally, says IMF

The directors of the International Monetary Fund, Tobias Adrian, Dong He, and Aditya Narain, presented a proposal to the Financial Stability Board of the multilateral financial organization to develop a global framework of regulations for Bitcoin and other cryptocurrencies.

Reelected Miami mayor to take 401k retirement savings partly in Bitcoin

The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC.

Microstrategy Buys More Bitcoin

Microstrategy announced that it has purchased 1,434 more Bitcoin for $57,477 with a total price tag of $82.4 million and has become the corporate with the largest holding.

Bitcoin Core developer Samuel Dobson leaves

Developer Samuel Dobson announced via a series of tweets on Thursday night that he is stepping down as a Bitcoin Core maintainer after three years. He is the second developer to leave the core team in the past two months.

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PM Modi Says Cryptocurrencies Should Boost Democracy, Not Harm – Top Crypto News

Softbank-backed Brazilian crypto company launches new venture unit

Softbank-backed Brazilian company 2TM, which runs the largest cryptocurrency exchange in Latin America, has launched a venture capital unit focusing on blockchain companies around the world, the company’s chief executive officer said in an interview. 

PM Modi says cryptocurrencies should be used to boost democracy, not harm it

Prime Minister Modi on Friday stressed on jointly shaping global norms for emerging technologies like social media and crypto-currencies so that these are used to empower democracy, not to undermine it.

Crypto industry urges Parliamentary panel to introduce licensing for exchanges, KYC and FEMA norms for customers

Crypto exchanges have suggested that the government can regulate cryptocurrencies by introducing a licensing regime for exchanges and other intermediaries and bringing in strict norms to track funds used in crypto trading.

Binance in talks with Indonesia’s richest family for crypto venture

Binance Holdings Ltd., the operator of one of the world’s largest crypto exchanges, is in talks with PT Bank Central Asia (BCA), and state-owned PT Telkom to set up a crypto trading exchange.

Cryptocurrency payment starts on WhatsApp

Novi, the cryptocurrency wallet of Meta Platforms (formerly Facebook), has started allowing some users in the US to send and receive money through its messaging app WhatsApp.

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Visa Launches Crypto Consulting Services – Top Crypto News

Visa launches crypto consulting services for financial institutions, merchants

Visa is launching new consulting and advisory services to help its clients navigate the world of cryptocurrencies. The crypto advisory practice will offer advice to financial institutions, retailers, and other firms on everything from rolling out crypto features to exploring non-fungible tokens (NFTs). The move marks Visa’s latest attempt to push deeper into the crypto industry.

Crypto prices today: Bitcoin edges lower; Terra gain up to 11%

The global crypto market capitalisation fell marginally over the last 24 hours to stand at ~$2.36 trillion. Bitcoin is currently trading lower by 2.13% at $49,649. Ethereum is up 0.21% to $4,384.25. Terra zoomed nearly 11% to $74.97, while Binance Coin is up 3.71% at $601.45.

Kickstarter to start blockchain-based crowdfunding project on Celo

Kickstarter, A US-based public benefit corporation, is creating a new company to build a crowdfunding platform on the Celo blockchain. In order to serve its mission of allowing as many people as possible to pursue their creative projects, Kickstarter is developing an open-source protocol to create a decentralized version of its platform’s core functionality.

Crypto CEOs ask US Congress for clearer rules for industry

Top executives from six major cryptocurrency companies, including Coinbase and Circle, urged the United States Congress to provide clearer rules for the booming $3 trillion industry. They also warned that overly tough restrictions would push it overseas. Crypto executives repeated calls for careful and customised rules rather than forcing the industry to comply with existing regulations.

Libertarian magazine Reason gets in on Ethereum NFTs

In conjunction with its annual webathon fundraising event, Reason Magazine has auctioned an Ethereum NFT on the Open Sea marketplace. Founded in 1968, Reason is a libertarian magazine focused on free markets and individual freedom. Reason is the latest publication to use non-fungible tokens (NFTs) to raise funds and draw awareness through the digital art form. 

Crypto is the ‘top contender’ for correction, says money managers

Digital assets are the “top contender” for a “major correction” in 2022, with nearly three-quarters of institutions polled saying they’re not an appropriate investment for most retail investors, according to a survey done for Natixis Investment Managers. Meanwhile, 28% of all institutions surveyed currently invest in cryptocurrencies. Of those, nearly one-third said they plan to increase their crypto allocations next year.

Reddit looks to expand Ethereum crypto rewards to more communities

Reddit has launched a new website and waitlist for its Ethereum-based Community Points rewards program. In July, the online discussion community picked Ethereum layer-2 scaling solution Arbitrum to grow the initiative. Users can earn Community Points in eligible subreddits by posting and engaging in discussion. 

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Iceland Cuts Power to New Bitcoin Miners – Top Crypto News

Australian government gives nod to 6 world-leading crypto reforms

According to the Australian Financial Review, the government is in favour of six out of nine reforms proposed by the Senate Committee, including a licensing regime for crypto exchanges, laws to govern decentralized autonomous organizations and a common access regime for new payments platforms.

The Central bank tells Thai banks not to offer crypto trading

The Bank of Thailand has stated that it does not want commercial banks to be directly involved in the trading of crypto assets.

Iceland cuts power to new Bitcoin miners

National Iceland electrical company Landsvirkjun has cut the amount of power it will provide for some industries, including aluminium smelters and Bitcoin miners.

Tezos blockchain records a 70% increase in energy efficiency in 2021

Tezos, a privacy-focused blockchain network, released its carbon footprint report from PricewaterhouseCoopers Advisory SAS, a French member firm of the PwC network. The PwC report reflects drastic improvements in energy efficiency for Tezos both in terms of reduced carbon footprint and lower energy consumption.

Russia’s largest bank struggles to register its digital asset platform

Sber, Russia’s largest bank, is struggling to obtain regulatory approval for its digital asset issuance platform as the company continues delaying registration plans.

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Coinbase Launches Open-Source Cryptography Library – Top Crypto News

Coinbase launches open-source cryptography library Kryptology

Coinbase announced the creation of a novel cryptographic library, Kryptology, a collection of tools for blockchain developers. These include secure, audited, and easy-to-use application programming interfaces (APIs) as well as a repository of common issues and lessons learned throughout the history of crypto.

Kotak to start business with WazirX, bets on crypto exchanges

Kotak Mahindra Bank has emerged as the first major bank to welcome the cryptocurrency community back, after being on a payment freeze by banking giants for about 8 months. The bank will start business with one of the country’s largest crypto exchanges, WazirX. The crypto exchange has opened an account with Kotak, while necessary paperwork, KYC, and other tests are ongoing.

Crypto prices today: Bitcoin hits $51,000; Ethereum, Binance coin jumps up to 8%

The crypto market was back in the green on Tuesday as investors picked quality tokens at lower prices. Bitcoin surged past the $50,000 mark as concerns over the Omicron variant eased across the globe and investors lapped up riskier assets. Binance Coin led the gainers with an 8% rally, followed by Ethereum and Cardano which gained 5% each.

Jury in Satoshi Nakamoto suit finds no evidence of partnership to create Bitcoin

A Florida jury rejected claims that Craig Wright and David Kleiman formed a partnership to launch Bitcoin, ending a high-profile case that revolved around the identity of the crypto’s anonymous creator Satoshi Nakamoto and the disposition of a multibillion-dollar fortune. The civil suit, filed by the family of Mr. Kleiman (now deceased) alleged that he and Mr. Wright formed a partnership to create and launch Bitcoin in 2008-’09 using the pseudonym Satoshi Nakamoto.

Bitcoin crash puts a dent into crypto fund inflows: Report

As per a report from asset manager CoinShares, digital asset investment products or crypto funds saw total inflows of $184 million last week (till 3 December), although sharp price weakness at the end week did lead to $40 million outflows last Friday. However, overall inflows suggest that investors continued to see recent price weakness as a buying opportunity.

Crypto investment firm Stacked bags $35 million in funding round

In a fresh funding round, crypto investment platform Stacked has raised $35 million (~Rs 263 crore). The investment round was led by quantitative cryptocurrency trading firm Alameda Research and crypto-start-up investment firm, Mirana Ventures. Launched in 2020, Stacked allows customers to access pre-built investment bundles from hedge funds, asset managers, and indices.

Ethereum’s market cap now exceeds that of the world’s biggest banks

The market capitalisation of the world’s second-biggest cryptocurrency Ether has hit a milestone. It has surpassed the market cap of every global bank, including JP Morgan. The Ethereum blockchain has only existed for less than a decade, while JP Morgan has been a prominent bank for the last 40 years! The increasing market cap of top cryptos like Bitcoin and Ether shows the extent of the growth in the digital asset industry and the massive adoption from both retail and institutional investors.

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Binance Plans to Become Registered UK Firm – Top Crypto News

Charlie Munger wishes cryptos had never been invented

Warren Buffet’s long term investment partner Charlie Munger expressed his contempt for crypto again by supporting China’s stand on Cryptocurrency. He called the crypto boom insane.

We want to be the AWS of crypto,’ says Coinbase exec

Coinbase expressed its desire to become the Amazon Web Services of crypto. Surojit Chatterjee, the CPO of Coinbase was talking to Forbes in an interview.

Crypto Exchange Bitget Suspended After Spat With K-pop Group BTS

Singapore’s financial regulators have suspended Bitget, a fast-growing crypto exchange platform, after listing and promoting the digital currency Army Coin. Named after the powerful fans of the biggest boy group in the world–BTS, Bitget intended to use these coins to provide “lifetime financial support for BTS”.

Binance plans to become registered UK firm despite regulatory setbacks

Binance CEO Changpeng Zhao said the exchange is planning to expand to the U.K. in the next six to 18 months, despite being instructed by the country’s regulator to cease trading earlier this year.

Miami hosts CryptoWorldCon International Blockchain & Cryptocurrency Conference April 2022

Miami will host CryptoWorldCon (CWC) next year. It will be a mega event of blockchain technology and cryptocurrencies conference/trade show, focusing on cutting-edge schemes and trends in the blockchain market, held at one of Miami’s most prominent and renowned venues.

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Crypto Market Falls; Bitcoin Down by More Than 10% – Top Crypto News

Crypto Market falls; Bitcoin down by more than 10%

Fear of tapering, inflation and other negative cues hit the Crypto market as well. Bitcoin even touched $42K. Ether and other cryptocurrencies also are down. The market participants are in fear of the Bear market.

US lawmaker urges congressional action on crypto as government avoids shutdown

Pennsylvania Senator Pat Toomey, one of the ranking members of the Senate Banking Committee, has suggested Congress step in with legislation if the Securities and Exchange Commission (SEC) is unable to provide sufficient guidance on cryptocurrencies.

El Salvador stacks 150 Bitcoin after BTC price crashes below $50k

The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November. El Salvador has 1270 BTC now.

Norwegian Block Exchange to become first Nordic crypto platform to list on Euronext

Norwegian Block Exchange said on Friday that it would become the first Nordan country to list its shares on the pan-European Euronext stock exchange. The exchange has eight cryptocurrencies listed and about 20 trading pairs available. 

Digital dollar needs broad consensus among authorities, says US Treasury Secretary

U.S. Treasury Secretary Janet Yellen has given her opinions on the potential of a digital dollar but is hesitant to come to any conclusions at this stage in proceedings. She said that such a move would require broad consensus among Congress, the U.S. central bank and the White House.