Among the numerous reports and other written material mandated in United States President Joe Biden’s March 9 executive order “Ensuring Responsible Development of Digital Assets” is a framework for enhancing United States economic competitiveness in digital asset technologies, due from the Commerce Department on September 5. In preparation for that document, the Commerce Department requested public comments through Tuesday, providing…
Having served his five-year prison sentence in France, Russian IT and crypto specialist Alexander Vinnik is now facing a return to Greece and possible extradition to the United States. A French cassation court has recently dismissed an appeal filed by his defense against the transfer. US Extradition Continues to Haunt BTC-e’s Alexander Vinnik The alleged operator of the infamous BTC-e…
The Bank of England today called for better regulation of cryptocurrencies, noting “vulnerabilities” in the market. In the U.K. central bank’s Financial Stability Report published Tuesday, it said that “cryptoasset valuations have fallen sharply,” plunging from a peak of nearly $3 trillion last year to the $883 billion is it now. It said that although this wipeout “did not pose…
The Bank of England today called for better regulation of cryptocurrencies, noting “vulnerabilities” in the market. In the U.K. central bank’s Financial Stability Report published Tuesday, it said that “cryptoasset valuations have fallen sharply,” plunging from a peak of nearly $3 trillion last year to the $883 billion is it now. It said that although this wipeout “did not pose…
On Tuesday, special purpose acquisition company (SPAC) FinTech Acquisition Corp. V announced that it terminated its purposed takeover of Israeli cryptocurrency exchange eToro via a bilateral agreement. In explaining the decision, Fintech V chairman of FinTech V Betsy Cohen said: eToro continues to be the leading global social investment platform, with a proven track record of growth and strong momentum.…
The 2022 cryptocurrency bear market has been the worst on record as most Bitcoin traders are underwater and continue to sell at a loss. In response to the rapid decline of token prices, some investors have fled to save haven assets; some have exited the market completely, while others have perplexingly turned to the enigmatic market of crypto derivatives. With…
The 2022 cryptocurrency bear market has been the worst on record as most Bitcoin traders are underwater and continue to sell at a loss. In response to the rapid decline of token prices, some investors have fled to save haven assets; some have exited the market completely, while others have perplexingly turned to the enigmatic market of crypto derivatives. With…
The euro has had a sluggish start to the second half of 2022 as the fiat currency slid to a 20-year low against the U.S. dollar. The drop adds to the fear that the global economy is in a recession and analysts believe that the risk of “parity is just a matter of time now.” Euro Nears Parity With US…
The Bank of England has called for “enhanced” regulations of crypto to address potential risk to the country’s financial stability amid the market capitalization dropping more than $2 billion. In the BoE’s Financial Policy Committee report on financial stability for July, the central bank said factors including the growth of the crypto market and climate change did not pose an…
By Cesare Fracassi, Chief Economist, Coinbase Institute TL;DR: How should we evaluate the recent highs and lows of crypto prices? In taking a market efficiency view, crypto prices are a reflection of the market’s assessment of the future prospects of digital assets. This view can help us understand the historical trends in crypto prices and its correlation with the overall…
