Tether (USDT), the biggest stablecoin and the third largest digital currency by market capitalization, continues losing its market value amid the current market downturn. On June 16, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after the USDT market value reached its all-time high above…
The crypto sector may be maturing, but regulatory clarity around the treatment of digital assets continues to remain cumbersome. This was recently highlighted by Commissioner Hester Peirce — also known as the United States Securities and Exchange Commission’s (SEC) “crypto mom” — in remarks she made at “The Regulatory Transparency Project Conference on Regulating the New Crypto Ecosystem: Necessary Regulation…
The Central Bank of Russian Federation recently discussed using bitcoin and other cryptocurrencies for international settlement.Currently, the central bank holds that Russia should only use the assets for international settlement, not within Russia.The comments were made by the head of the central bank and oppose previous positions held by the monetary authority. Elvira Nabiullina, head of the Central Bank of…
From more non-custodial liquid staking services to more privacy-focused projects, the community shared what they want for the future of DeFi. Source: https://cointelegraph.com/news/which-decentralized-finance-innovations-are-expected-by-the-defi-community
Following a slight surge in price, bitcoin was trading lower on Friday, as bearish momentum returned to crypto markets. BTC was once again nearing the $20,000 level in today’s session, while ETH fell below $1,100 earlier in the day. Bitcoin BTC moved lower in Friday’s session, as bearish momentum once again reigned supreme in crypto markets. Following a slight increase…
Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn. Babel Finance officially announced June 17 a temporary suspension of redemptions and withdrawals from its products, citing “unusual liquidity pressures.” “Recently, the crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events,”…
Since 2020, miners on the Ethereum blockchain have extracted around $600 million from other investors by miners, according to a new report by the Bank for International Settlements (BIS) focusing on common malpractice in the crypto mining industry. The June 16 bulletin, “Miners as intermediaries: extractable value and market manipulation in crypto and DeFi,” suggests three key takeaways from the…
Controversial former hedge fund manager and convicted felon Martin Shkreli is shedding his ‘Pharma bro’ moniker and becoming a crypto bro with the launch of a decentralized exchange (DEX) called Albumswap. According to a press release, Shkreli’s new decentralized finance (DeFi) platform will be serviced by a native utility token called $MS, which can be purchased on his new website…
The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100. According to a report published by a local Chinese daily, the sharp rise in the number…
A crypto enthusiast and organizer of the Binance-sponsored Blockchain and Cryptocurrency Awareness Tour (BCAT) recently held in Nigeria, has rejected reports he was arrested by security agents reportedly spooked by large crowds that were following the campaign. The enthusiast said the high number of people that attended the BCAT tour proves that Nigerians “want to continue to explore blockchain and…
