The FTX bankruptcy has sent the crypto space into a downward spiral, and the crypto space is still buzzing to get all the details that led to this situation. Numerous reports have popped up, and the bankruptcy hearings bring new information daily. Considering the extent of FTX’s involvement in the global crypto space now is the time to take a…
The policymaker overseeing the European Union’s introduction of new rules on the crypto industry has said those opposed to regulation are on a “dangerous path”. As lawmakers prepare to vote on Europe’s landmark Markets in Crypto Assets (MiCA) regulation next year, European commissioner for financial services Mairead McGuinness said that the impending rules were already having an effect. But she…
This is an opinion editorial by Thibaud Maréchal, a contributor to privacy-focused Bitcoin wallet project Wasabi Wallet. “Divide and conquer” is a battle-tested military strategy to fracture a group of people by making them disagree and fight each other instead of joining together against a common enemy. Wasabi and Samourai, two popular bitcoin wallets with different CoinJoin implementations have been…
Over the last 100 days or roughly three months, bitcoin’s market dominance among 21,958 different crypto assets worth roughly $850 billion has been under 40%. Bitcoin dominance has been under 40% since Aug. 27, 2022, with a brief instance of rising above the 40% range 52 days ago, on Oct. 15. Bitcoin’s Market Superiority Lost 41% in 35 Months Bitcoin’s…
Cryptocurrency mixing services are a divisive subject in the industry. Some advocate for the privacy-enabling features of these protocols while others maintain that they are mainly used for illicit means. For platforms like Tornado Cash, the mainstream verdict is “guilty as charged.” The infamous decentralized mixing protocol was sanctioned by the United States Office of Foreign Assets Control (OFAC) in August…
The Nigerian government has placed new restrictions and limits on the amount of cash citizens are able to withdraw from ATMs. The decision is seemingly an attempt to further push the country’s new CBDC, the eNaira. The directive orders that citizens and businesses cannot withdraw amounts exceeding $45 (20,000 nairas) per day and $225 (100,000 nairas) per week from ATMs.…
As many countries, entities and even individuals face international sanctions, the crypto industry seeks to find its place among increasing regulations. Digital currencies have often been mentioned as an avenue for those subject to sanctions to divert them, such as in the recent case of Russia. In such instances, exchanges and other industry players need to understand where they stand…
Bitcoin was consolidating on Wednesday, as the U.S. dollar continued to strengthen versus several G7 currencies. A strong dollar means demand for cryptocurrencies typically plummets, with the global market cap trading in the red as of writing. Ethereum was also lower today, falling as it remained below $1,300. Bitcoin Bitcoin (BTC) continued to consolidate in today’s session, as prices hovered…
The FTX collapse was bad, but how bad? Almost from the moment that the Bahamas-based exchange suspended cryptocurrency withdrawals in early November — and three days before it filed for bankruptcy — the historic comparisons started flying. Circle CEO Jeremy Allaire tweeted on Nov. 8 that FTX was “Lehman’s moment,” referencing the 2008 collapse of investment bank Lehman Brothers, which…
UK-based crypto tax firm Koinly is letting go 14% of its global team, citing the need “to combat the challenging conditions facing the cryptocurrency market and economy at large.” The job cuts will affect a total of 16 people, with CEO Robin Singh explaining the move was undertaken in response to the intensifying bear market, compounded by the collapse of…
