The price of Bitcoin dipped following the release of the Federal Reserve’s December meeting minutes, which showed the central bank’s plans to continue raising interest rates. The biggest cryptocurrency was down nearly 1%, trading for $16,790, in the hour after the Fed dropped the announcement, according to CoinGecko. It has since made modest gains, and the asset is still up…
At the time of publication, the United States House of Representatives was at a historic standstill in its process of choosing a Speaker for the 118th Congress — a quagmire that could lead to lawmakers delaying committee hearings. As of Jan. 4, California Representative Kevin McCarthy lost the fifth round of votes to become the next Speaker of the House…
Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021. New York Regulator Fines Coinbase…
Singapore-based decentralized finance (DeFi) services firm, Cake DeFi, has announced the release of its Proof of Reserves using the cryptographically-audited Merkle tree method. Developed by Ralph Merkle in 1979, the Merkle tree method is a way of proving that a certain piece of data is included in a set of data, without revealing the entire set of data. Under the…
YouTuber Logan Paul is no stranger to crypto—or controversy. In a video published Tuesday, he vehemently denied most of the claims YouTuber Coffeezilla had made against his crypto game project, CryptoZoo, and said he intends to sue Coffeezilla, whose real name is Stephen Findeisen, for defamation. CryptoZoo is an online game on the Binance Smart Chain launched in 2021 where…
Mainstream hype for the nonfungible token (NFT) market cooled down significantly in 2022, but that didn’t stop a host of popular and wealthy figures from stinking up the space with dreadful collections last year. In the 2022 edition of the worst influencer and celebrity NFT cash grabs, Cointelegraph takes a look at four projects seemingly designed to milk capital out…
YouTuber Logan Paul is no stranger to crypto—or controversy. In a video published Tuesday, he vehemently denied most of the claims YouTuber Coffeezilla had made against his crypto game project, CryptoZoo, and said he intends to sue Coffeezilla, whose real name is Stephen Findeisen, for defamation. CryptoZoo is an online game on the Binance Smart Chain launched in 2021 where…
In this week’s newsletter, read about how nonfungible tokens (NFTs) in the Magic Eden marketplace showed “unsavory images.” Read about Final Fantasy developer Square Enix’s aggressive investments in blockchain gaming and how play-to-earn (P2E) will transition from the growth phase to maturation. In other news, check out metaverse developments throughout 2022. And don’t forget this week’s Nifty News featuring Solana…
Digital assets funds saw inflows totaling $433 million during 2022, the lowest level since 2018, when inflows in the crypto industry reached $233 million, according to the cryptocurrency investment firm Coinshares. Investors’ appetite for digital assets seems not to have been fully affected by the crypto winter, but otherwise encouraged investments in crypto assets in a year marked by a…
The CEO of crypto broker Genesis has asked for time to sort out its troubled lending unit as its parent company Digital Currency Group (DCG) faces increasing pressure. Genesis halted withdrawals in November following the crash of crypto exchange FTX. And the platform owes high-yield savings product Gemini Earn $900 million. On Monday, Gemini co-founder Cameron Winklevoss wrote an open…
