According to data from Nansen, nonfungible token (NFT) whale Jeffrey Hwang — known colloquially as Machi Big Brother — dumped 1,010 tokens for a total of 11680 Ether (ETH) or $18.6 million in the space of 48 hour. In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew Thurman highlighted the trading activity over the previous two days,…
The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies. The board stressed the need to develop comprehensive crypto regulations to “better mitigate the risks posed by crypto assets while also harnessing the potential benefits of the technological innovation.” IMF Executive Board Provides Guidance on Crypto Regulation The International Monetary…
U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor discouraged from providing banking services to customers of any specific class or type, as permitted by law or regulation.” US Regulators Issue Joint Statement on Crypto The Board of Governors of…
The Wormhole attack occurred in February 2022 and saw roughly $321 million worth of Wrapped ETH (wETH) siphoned via a vulnerability in the protocol’s token bridge. The hacker has since shifted around the stolen funds through various Ethereum-based decentralized applications (dApps), and via Oasis, they recently opened up a Wrapped Staked ETH (wstETH) vault on Jan. 23, and a Rocket…
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United States. Circle Partners With Atlanta-Based…
The multi-billion dollar NFT market has for years anxiously awaited the answer to a single question: Will the U.S. government classify non-fungible tokens as securities? A federal judge in Manhattan on Wednesday gave the first glimpse of an answer, ruling against one of the top companies in the NFT space: CryptoKitties and NBA Top Shot maker Dapper Labs. Dapper sought…
The multi-billion dollar NFT market has for years anxiously awaited the answer to a single question: Will the U.S. government classify non-fungible tokens as securities? A federal judge in Manhattan on Wednesday gave the first glimpse of an answer, ruling against one of the top companies in the NFT space: CryptoKitties and NBA Top Shot maker Dapper Labs. Dapper sought…
Lawyers representing former FTX CEO Sam Bankman-Fried in federal court have requested an extension to file a proposal related to his bail conditions. In a Feb. 24 filing with the United States District Court for the Southern District of New York, Mark Cohen of Cohen & Gressler said the legal team wanted until March 3 to file a proposal for…
This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a key ingredient to force the U.S. Federal Reserve to pivot its stance is “a sharp drop in…
Bitcoin’s (BTC) recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests that many interested buyers (including whales) were left on the sidelines. The recent rally to $25,000 shared many similarities with the 2019 bear market rally, which saw a 330% surge…
