While non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a number of NFT owners are taking loans out against their NFTs. This month, a project called Nftfi has facilitated $25.6 million in NFT loans so far, and last month the lending marketplace recorded nearly $50 million in NFT loans. NFT Lending and Borrowing Continues…
Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and its a near-dead UST algorithmic stablecoin project. Avalanche price dips amid Terra’s tax evasion FUD AVAX’s price plunged by nearly 14% between May 18, where it traded near $35 to May 19…
TL;DR: Coinbase is announcing its partnership and investment in the WNBA ecosystem. Today, Coinbase is excited to announce our expanded investment within the Women’s National Basketball Association (WNBA) ecosystem. In addition to the League, our new partners include the Women’s National Basketball Players Association (“WNBPA” — the union which represents all players), two team partners, the New York Liberty and…
Over the past nine days, Bitcoin’s (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin’ price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7% on May 18. Disappointing quarterly…
While the crypto world continues to assess the damage done in last week’s market crash, members of the G7 are urging regulators to act before the body’s next gathering in June. Reuters reported that a draft letter by the countries’ finance ministers and central bankers is asking the Switzerland-based Financial Stability Board (FSB) to advance “consistent and comprehensive regulation,” before…
TAG Heuer, a luxury watchmaker from Switzerland, is now accepting bitcoin and other cryptocurrencies as payment online. TAG partnered with BitPay to bring this new functionality to its e-commerce customer base. BitPay allows businesses to accept bitcoin and other cryptocurrencies as payment without dealing with technical hurdles. TAG Heuer, a Swiss luxury watchmaker, is now accepting bitcoin and other cryptocurrencies…
By Paul Grewal, Chief Legal Officer Tl;dr: At Coinbase, we take our responsibility to build a more open, accessible financial system very seriously. We’re deeply committed to our asset listing policies and processes, and we’ll continue to innovate as our dynamic space evolves. A few weeks ago, we shared concerns about purchases of certain assets right before we announced they…
FTX US announced on Thursday that the firm has launched an equities trading platform called FTX Stocks which will give U.S.-based customers the ability to purchase stocks and exchange-traded funds (ETFs). The launch is currently in a private beta phase for select U.S. customers and equities can be purchased with fiat-backed stablecoins. FTX US Launches Beta Equities Trading Platform FTX…
USDT Stablecoin issuer Tether has reported it cut its reserves allocation to commercial paper investments and increased that of United States treasury bills over the first quarter of 2022. In a Thursday blog post, Tether reported its reserves were “fully backed,” seemingly in an effort to assuage many users’ fears around USDT briefly depegging from the dollar on May 12.…
MicroStrategy’s new CFO, Andrew Kang, confirms the company will not be changing its bitcoin strategy. Kang foresees stronger regulations following the events of recent turmoil in the cryptocurrency markets. Gary Gensler, chair of the SEC, says he thinks a lot of tokens outside of bitcoin will fail. The buy and hold bitcoin tactics of MicroStrategy won’t be changing despite the…
