Recent progress on the European Union’s proposed Markets in Crypto Assets (MiCA) law has made stablecoin issuer Circle bullish on growth in the European Union. Earlier this month, EU lawmakers finalized the legal text of the bill. If adopted, it will create stricter rules for crypto companies. But at least Circle will know what those rules are, an executive said…
Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit from Mango Market’s, according to a proposal on Compound’s governance forum. With the pause, users will not be able to deposit yearn finance (YFI), 0x (ZRX),…
The United States Department of Justice has announced charges against two Chinese intelligence officers who allegedly bribed a double agent with Bitcoin. In an Oct. 24 announcement, the Justice Department said Guochun He and Zheng Wang had attempted to obstruct the prosecution of an unnamed global telecommunications company based in China, which allegedly involved paying a U.S. government employee roughly…
Institutional prime broker platform for crypto assets Coinbase Prime announced on Oct 24th that it had entered into a partnership with MakerDAO — the largest single holder of USDC — to become a custodian of $1.6 billion worth of the stablecoin. The MakerDAO community voted to approve this custodianship which will allow its community to earn a 1.5% reward on…
Binance will probably stick to its promise to put $500 million towards Elon Musk’s on-again, off-again bid to buy Twitter at $54.20 per share. The exchange’s CEO, Changpeng Zhao (CZ), was recently asked whether he still stood with his fellow billionaire. “I think so,” he said, when speaking at the Future Investment Initiative conference in Riyadh, Saudi Arabia on Tuesday. …
The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the country for the third time. Concerns over Xi’s unprecedented third term, as well as the reshuffle of his top…
In brief Bitcoin is back above $20,000 today, while ETH hit $1,500 for the first time since shortly after September’s merge. Overall, the market is up 6% today and is back above $1 trillion again. The cryptocurrency market is rebounding today as the price of Bitcoin topped $20,000 for the first time in weeks, Ethereum rose above $1,500 for the…
Western Union may be preparing to offer crypto-related services, judging from trademark applications filed by the company last week. This is the latest of several attempts the company has made to enter the cryptoverse. So far, it has had limited success. Western Union filed for three trademarks on Oct. 18. According to trademark attorney Mike Kondoudis, activities covered by the…
Cash App users can now send and receive Bitcoin using the Lightning Network. Cash App Bitcoin Product Lead Michael Rihani announced the news today via Twitter and the platform’s help page confirmed it. Previously, the Cash App users could only send Bitcoin via the Lightning Network. But now they can also use the solution to receive the cryptocurrency, too. The…
The Financial Services and Markets bill passes the House of Commons, heads to the House of Lords. Draft bill seeks to establish digital assets, such as bitcoin, as regulated financial instruments. Lawmakers are consulting with stakeholders and industry leaders throughout the process. Legislators in the U.K. voted to recognize bitcoin and digital assets as regulated financial instruments earlier today, per…
