In an annual report published on Friday, the United States Financial Stability Oversight Council, or FSOC, voiced its concern over the adoption of stablecoins and other digital assets. Regarding stablecoins, the FSOC said consumer confidence could be undermined by factors such as illiquidity, lack of appropriate safeguards, opacity regarding redemption rights, and cyber attacks. “A run on stablecoins during strained…
In brief The SEC will take another 45 days to review Bitcoin ETF proposals from Bitwise and Grayscale. It has yet to approve a spot Bitcoin ETF, though it has allowed BTC futures ETFs. If all you want for Christmas is a spot market Bitcoin ETF, time is running out. The U.S. Securities and Exchange Commission this week delayed decisions…
The United States has always been the global financial leader in my lifetime. But at the moment, government leaders are missing an opportunity to empower Americans to utilize digital currencies. Our incomprehensible unwillingness to embrace digital currency puts our mantle of leadership at risk. Bitcoin, in particular, is primed to become the premier currency of the 21st century. Its scarcity…
The application-specific integrated circuit (ASIC) bitcoin mining rig manufacturer Canaan has announced the company has secured a follow-on contract from Genesis Digital Assets for 30,000 mining machines. The sale is part of an agreement between Canaan and Genesis that gives the mining operation the option to purchase up to 180,000 ASIC bitcoin mining rigs. Canaan Secures Follow-on Contract for 30K…
Bitcoin (BTC) bulls took another beating on Dec. 17 as a midday onslaught dropped the price to $45,500. The price did manage a quick bounce back to $47,000 but sweeping a new daily low could be a sign that additional downside is in store. Amid the wider market downturn, several altcoins provided weary traders with a source of refuge as…
In brief Polygon and Alexis Ohanian’s Seven Seven Six VC firm have announced a $200 million investment fund. It will focus on social media and gaming projects built on Polygon, an Ethereum layer-2 scaling solution. Social media could ultimately be one of the big, breakthrough use cases for apps built on blockchain networks, but we may still be far away…
Bitcoin mining pool and software company Luxor Technologies has introduced the latest version of its data platform, Hashrate Index. The tool enables users to gauge the state of the bitcoin mining industry by providing insights on a series of related metrics, including hashprice, which shows miner revenue per hashrate, and rig price, which compares mining rigs in cost, efficiency, and…
The cryptocurrency market has been under a period of duress, with a majority of the tokens in the cryptoverse witnessing a price slump that has set in since the first week of December. The flagship cryptocurrency token, Bitcoin (BTC), underwent a flash crash on Dec. 4, wherein the price of the token fell below $50,000 in nearly two months, as…
Solana (SOL) has become a top contender in the smart contract industry and in the past year the network’s total value locked (TVL) grew by $660 million and stretches across more than 40 decentralized applications to hit an all-time high above $11 billion. Even with this growth, investors have reason to question whether the current $56 billion market capitalization is…
The total value locked (TVL) in decentralized finance has slid 15.63% since the metric’s all-time high of $275 billion sixteen days ago on December 1. Since the end of the first week of December, the TVL is down 7.19% lower with a number of protocols seeing seven-day losses in terms of TVL. Defi Tokens YFI and CVX See 7-Day Double-Digit…
