In brief Leading Solana NFT marketplace Magic Eden has faced growing criticism about recent platform changes and its escrow-based trading model. Magic Eden defended its API changes in comments to Decrypt and said that it plans to switch to a non-escrow system in the future. There’s no bigger player than Magic Eden in the Solana NFT space. Launched last fall,…
Despite some good signs of the crypto prices recovery, last week could hardly be called bright for the market, as the major news came from the enforcers and not the regulators. According to a report from the New York Times, the United States Treasury Department’s Office of Foreign Assets Control (OFAC) has been investigating crypto exchange Kraken for allegedly allowing…
The Law Commission of England and Wales, an independent consultant firm for legal reform originally commissioned by the parliament, has proposed a new category of property to encompass digital assets such as bitcoin in a 549 page proposal. How could this change the way the United Kingdom interacts with and recognizes bitcoin, and why was it necessary? Reforming Legal Structure…
Tl:dr: We’re launching Ethereum staking to US domestic institutional clients on Coinbase Prime. Using our industry-leading cold storage, clients can now generate yield by staking ETH. By Aaron Schnarch, Vice President of Product, Custody Fully-integrated staking on Coinbase Prime Coinbase Prime provides institutions with an end-to-end staking experience. Clients can create a wallet, decide how much to stake, and initiate…
The luxury jewelry and specialty retailer Tiffany & Co. announced the firm is planning to sell 250 non-fungible token passes called “Nftiff.” Essentially, Cryptopunk holders will be able to acquire one of the 250 Nftiffs for 30 ether or roughly $50K using today’s ethereum exchange rates. Tiffany & Co. Reveals Limited Edition Jeweled Cryptopunk Pendants Backed by 250 Non-Fungible Tokens…
United States-based crypto exchange Binance.US said it will be delisting the Amp token “out of an abundance of caution” of possible enforcement by federal regulators. In a Monday blog post, Binance.US said it will be closing deposits of Amp (AMP) and removing the AMP/USD trading pair on Aug. 15 following the token being mentioned in legal action from the U.S.…
The Securities and Exchange Commission has charged 11 people for their roles in what the agency is calling a “fraudulent crypto pyramid and Ponzi scheme.” Forsage allegedly raised more than $300 million from retail investors in an illicit way, in countries across the globe including the United States, according to an SEC statement released Monday. The agency charged the organization’s…
This is an opinion editorial by Jimmy Song, a Bitcoin developer, educator and entrepreneur and programmer with over 20 years of experience. I hate politics. It’s a weird zero-sum status game of perception where the winners get to make the rules. Everything is judged on intentions and nothing on results. It offends me as an engineer because it’s really a…
On Friday, Chicago Board Options Exchange (CBOE), the largest options exchange in the United States, announced its second-quarter earnings results. Of particular interest was its total operating expenses, which soared 685% year-over-year from $160.6 million. CBOE explained: “This was primarily due to the $460 million impairment of goodwill recognized in the Digital reporting unit, driven by negative events and trends…
Cryptocurrency miners have a lot of fixed costs, like power, real estate, and the souped-up computers, or rigs, that do the actual mining. That’s why it can be hell for their margins when the market takes a nosedive and dramatically drops the value of whatever funds they were holding in crypto, such as Bitcoin. And now that the crypto market…
