LidoDAO, the governance body that controls Lido Finance, has voted to reject a proposal that would have sent 1% of the LDO token supply to Dragonfly Capital in exchange for about $14.5 million in DAI. LDO is the native token on the Lido Finance protocol, which issues the Lido Staked Ether (stETH) token. DAI is the dollar-pegged stablecoin issued by…
The governor of the central bank of the Philippines has shared his policy on cryptocurrency regulation. “I don’t want it banned,” he said, advising investors not to invest money they cannot afford to lose in crypto. Philippine Central Bank Governor on Crypto Regulation Felipe Medalla, the governor of the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, shared his…
New York-based investment banking giant Moelis & Co. has launched a Global Blockchain Group that will provide advisory services to blockchain and crypto firms. The group is being fronted by Moelis & Co. co-founder John Momtazee and supported by a team of senior bankers that have significant experience in advising blockchain companies, according to the firm. Momtazee, based in Los…
The CEO of Binance is not happy with Bloomberg. Changpeng “CZ” Zhao is suing Bloomberg Businessweek for three allegedly defamatory statements published earlier this month through the publication’s Chinese edition—which is distributed in Hong Kong—and its affiliated Twitter and Facebook accounts. According to a copy of the filing submitted to the High Court of Hong Kong Friday and obtained by…
This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host. Federated sidechains are currently the only deployed type of Bitcoin sidechain (the most recent paper here). The idea of using a federated peg and consensus system was actually an appendix in the original sidechains whitepaper. There was no concrete design for…
Tesla has revealed that it is still holding bitcoin worth $222 million in market value after selling 75% of its crypto holdings. The company recorded realized gains of $64 million on its recent bitcoin conversion into fiat currency. Tesla Realizes Gains of $64 Million From Bitcoin Sale Tesla Inc. filed its second-quarter report with the U.S. Securities and Exchange Commission…
The U.S. Department of Justice announced today that Michael Stollery, the CEO of Titanium Blockchain Infrastructure Services (TBIS), has pleaded guilty for his role in a scheme that brought in $21 million through a fraudulent initial coin offering (ICO). According to the DOJ, Stollery called the scheme a “cryptocurrency investment opportunity,” luring investors to purchase the firm’s BAR token through…
The blockchain space is seeing some areas of strength despite the perceived downturn in the market. The perpetual futures funding rates for Bitcoin (BTC) and Ether (ETH) have flipped back to positive on major exchanges, which shows bullish sentiment among derivatives traders. In addition, Bitcoin started trading below its cost basis, which has marked previous areas of market bottoms. In…
Bitcoin (BTC) could be in the process of bottoming after gaining 25%, based on several market signals. BTC’s price has rallied roughly 25% after dropping to around $17,500 on June 18. The upside retrace came after a 75% correction when measured from its November 2021 high of $69,000. BTC/USD daily price chart. Source: TradingView The recovery seems modest, however, and carries…
The United States Commodity Futures Trading Commission (CFTC), the regulatory agency that shares the main crypto regulatory responsibility with the Securities Exchange Commission, will undergo restructuring to become more proactive and comprehensive, CFTC chair Rostin Behnam announced July 25. LabCFTC, which was described as “the focal point for the CFTC’s efforts to promote responsible fintech innovation,” will become the Office…
