The world’s largest digital asset exchange, Binance, is preparing to face fines and penalties in order to settle outstanding regulatory and law-enforcement investigations in the United States. According to a Feb. 15 WSJ report citing the firm’s chief strategy officer Patrick Hillmann, Binance has been working with regulators to remedy past compliance issues. Hillmann stated that Binance is “working with…
Galaxy Digital Holdings CEO, Mike Novogratz, believes there’s a chance Bitcoin (BTC) could return to $30,000 or above before the end of March. According to a Feb. 15 Bloomberg report Novogratz spoke at a Bank of America conference the same day and said he would’ve been the “happiest guy” if 2022 ended with BTC at $30,000, but added: “When I…
Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, says people who oppose banning cryptocurrencies are “idiots,” adding that it’s “just ridiculous” anybody would buy crypto. He also likened replacing national currencies to replacing air, stating that “It’s massively stupid.” Berkshire Vice Chair Charlie Munger Says Replacing National Currencies Is Like Replacing Air Berkshire Hathaway Vice…
A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future. The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule” will apply to custodians of…
The sudden and explosive rise of Bitcoin NFTs via the new Ordinals project has sparked plenty of creativity from Web3 builders. Chainspace is one of the most vibrant examples to date—an experimental art project that connects Bitcoin and Ethereum through a lo-fi video rendering app that’s tied to both chains. The project spans 800 total on-chain apps, each a unique…
Open war has finally erupted between leading NFT marketplaces. On Wednesday, upstart NFT marketplace Blur announced that it will enforce full creator royalties for any collection that blocks trading on dominant NFT trading platform OpenSea—a marked escalation of hostility towards the rising company’s chief rival. Blur, which launched last October, does not fully honor creator royalty settings—that means the platform…
Yuga Labs, the company behind the massively popular Bored Ape Yacht Club NFT collection, announced the winner of its “Dookey Dash” endless runner game challenge on Wednesday. “Many have dashed, more have dookey’d, but one person arrived,” the Bored Ape Yacht Club account tweeted. “Congratulations to @Mongraal, the Key is yours!” Kyle “Mongraal” Jackson is an English esports player known…
Appointing an independent examiner in the FTX bankruptcy proceedings “would create an increased risk of further loss through inadvertent disclosures or hacking,” Judge John Dorsery said in a hearing on Wednesday. Dorsey, who’s overseeing the crypto exchange’s Chapter 11 case in Delaware, denied a motion from the U.S. Trustee to appoint an examiner. He cited concerns about security and cost,…
Sam Bankman-Fried, the former CEO of crypto exchange FTX may no longer be able to play League of Legends and other video games if newly proposed changes to his bail conditions from United States prosecutors are approved. In a Feb. 15 letter to United States District Judge Lewis Kaplan, U.S. Attorney Damian Williams asked the courts to further expand restrictions…
U.S. Securities and Exchange Commissioner Hester Peirce, no stranger to butting heads with her own agency, released a statement on Wednesday questioning the latest proposal from SEC Chair Gary Gensler and the SEC regarding crypto custody in the United States. My statement on today’s custody proposal. Looking forward to comments from the public. This one affects crypto, among many other…
