Crypto exchange Huobi Global announced the suspension of derivatives trading in New Zealand. The statement from Huobi said the new restrictions against derivative offers are in light of compliance with local regulations. Users in New Zealand will no longer have access to derivative trading services, which include coin-margined futures and swaps, USDT-margined contracts, options, and Exchange Traded Products (ETPs). The…
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions against Tornado Cash this month, marking its first action against a decentralized finance (DeFi) mixer in what may prove to be a watershed moment for DeFi regulation. A lack of response and regulatory preparation from the industry is perhaps unsurprising of a mindset honed outside the rule of law.…
The market capitalization of Tether (USDT) tokens has increased by nearly $2 billion since the U.S. Treasury Department imposed sanctions on cryptocurrency mixer Tornado Cash. The Office of Foreign Asset Control essentially barred Americans from using Tornado Cash on Aug. 8, blacklisting 44 USD Coin (USDC) and Ether (ETH) addresses connected to the service to a list of Specially Designated…
Riot increased its mining fleet to over 44,000 miners and still has more than 3,000 left to deploy. The company’s bitcoin production rose 107% YoY. A $14 million bitcoin sale and a 30 million share offering strengthened the company’s cash position. Bitcoin miner Riot released its Q2 bitcoin mining and production update on Tuesday, which highlights ongoing capitulation trends in…
Tl;dr: Ethereum is anticipated to move to Proof-of-Stake (PoS) on or around September 15, 2022 making it more secure, less energy-intensive, and better for implementing new scaling solutions. Rest assured, your assets will be safe and secure during this period and no action is required to upgrade on your part. The following piece outlines what you can expect from Coinbase…
On August 15, the non-profit that focuses on policy issues facing crypto assets, Coin Center, published a blog post that says the organization is looking at the legality of the recent Tornado Cash sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). The post, published by Coin Center’s Jerry Brito and Peter Van Valkenburgh, explains that…
Among a rich range of anxieties both for the crypto industry and the global economy at large, the summer of 2022 will be remembered as the time when the stablecoins proved themselves to be not so stable and thus came into the focus of regulators’ attention. The shock of the TerraUSD (UST) depegging in May opened a season of heated-up…
Ethereum fell below $1,900 earlier today, as crypto markets continued to react to disappointing economic data from China. Figures for July showed that both retail sales and industrial production in China had grown by less than expected, heightening concerns of an upcoming global recession. Bitcoin also declined on Tuesday. Bitcoin Bitcoin (BTC) was once again trading in the red, as…
In brief Jump Crypto and the Solana Foundation will create a second validator client for the Solana blockchain network. It’s intended to improve performance as the network scales, as well as boost decentralization. In an effort to improve the decentralization and performance of the Solana network, Web3 infrastructure developer and investor Jump Crypto has partnered with the non-profit Solana Foundation…
Polkadot-based DeFi platform Acala’s native stablecoin aUSD is edging back to its dollar peg following the community’s vote to destroy 1.29 billion aUSD. These tokens were minted following an exploit of a “misconfiguration” in one of Acala’s liquidity pools. Once attackers exploited the flaw, the mass minting of the stablecoin plummeted its value. The coin de-pegged and dropped to a…
