The European Parliament Economic and Monetary Affairs Committee held a hearing on “FTX cryptocurrency exchange collapse and implications for the EU” Nov. 30. Three European monetary officials testified, talking about FTX, blockchain technology and crypto regulation in a “preliminary assessment of the events.” European Securities and Markets Authority (ESMA) Risk Analysis & Economics Department head Steffen Kern told the committee…
It’s always been a point of pride for Tezos co-founder Kathleen Breitman that the network doesn’t have a public face or figurehead. Sure, she does plenty of interviews—including one with Decrypt for the latest episode of the gm podcast—but she’s always been steadfast in saying that neither she, Arther Breitman, her husband and co-founder, nor the Tezos Foundation itself have…
As the collapse of the crypto exchange FTX shakes faith in the industry’s centralized players, Telegram is stepping in to build trustless and decentralized alternatives. In his Telegram channel on Wednesday, Pavel Durov—the messaging platform’s founder and CEO—announced that the company would begin building “non-custodial wallets” and “decentralized exchanges” that would let millions of users safely trade their crypto. “This…
In this week’s newsletter, read about how two Bored Ape nonfungible tokens (NFTs) sold for almost $1 million during the bear market and how the word “metaverse” made it into the top three finalists for Oxford Word of the Year. Check out how the metaverse can generate passive income through royalties and how NFT marketplace OpenSea has integrated BNB Chain…
Bitcoin and the wider crypto market jumped Wednesday after Federal Reserve Chair Jerome Powell said in a speech that December would likely bring smaller interest rate hikes. The biggest cryptocurrency by market cap was trading for $17,102 at the time of writing—up 2% in the hour after Powell’s speech and over 4% in the past 24 hours, according to CoinGecko.…
During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only three application-specific integrated circuit (ASIC) mining rigs are profitable. At…
Bitcoin (BTC) price gained 6.1% between Nov. 28 and Nov. 30 after briefly testing the $17,000 support. Favorable regulatory winds might have helped fuel the rally after the Binance exchange announced the acquisition of a regulated crypto exchange in Japan on Nov. 30. Bitcoin 12-hour price index, USD. Source: TradingView Binance shut its operations in Japan in 2018 after being…
Brazil’s Congress today passed a bill that would regulate the use of cryptocurrency as a means of payment throughout the country, potentially providing a boost toward the adoption of digital assets in the South American nation. Brazil’s Chamber of Deputies approved a new regulatory framework—signed under code PL 4401/2021—that will include digital currencies and frequent traveler rewards from airlines (the…
The company behind blockchain publishing platform LBRY wrote its own obituary on Twitter yesterday after losing a fight with the SEC earlier this month. In Monday tweets, LBRY, Inc. said it had been “killed by legal and SEC debts.” In a followup tweet, the company made clear that it is LBRY Inc that “must die” though the “LBRY protocol and…
Cryptocurrency exchange Kraken announced on Nov 30, that it has made “one of the hardest decisions” to cut down its global workforce by approximately 1,100 people, making up approximately 30% of its total workforce, amid current market conditions. According to the CEO and co-founder Jesse Powell, Kraken had to triple its workforce due to the fast-growing crypto ecosystem, and the…
