Bitcoin (BTC) is down 1.7% over the past day and 8.4% in the week, as the leading cryptocurrency slid to a three-week low of $21,640 in the early hours on Thursday, data from CoinGecko shows. The world’s largest cryptocurrency last traded below $22,000 in mid-February before a surge of interest in NFTs minted through the Ordinals protocol on Bitcoin pushed…
Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis. On March 8, the BaFin journal published an explanatory note considering NFTs and their legal classification. At this point, the regulators don’t see how NFTs correspond to the criteria of tradeability and…
The registration dates for Mt. Gox creditors have been pushed back by another month. According to the announcement, the deadline has been pushed from March 10 to April 10, allowing creditors to file their claim for another month. Along with the extension for the registration deadline, the distribution deadline has been pushed back by another month as well. The distribution…
A federal judge has refused to consolidate a number of proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard on the matter. Excerpt from the order denying the motion to consolidate. Source: Law360 On March 8, United States District Judge Jacqueline Scott Corley laid down the…
According to Fortune Business Insights, the global blockchain retail market size is expected to surge from the $172.2 million recorded in 2021 to over $2 billion by 2028. Both the demand for the product by end-users as well as the growing use of the technology in supply chain management are expected to sustain the market’s projected compound annual growth rate…
Ordinals are different from traditional NFTs from a technical design perspective. There are several features that make the pricing for ordinals a different exercise. Bitcoin ordinals, as mentioned before, help identify sats uniquely and have content or art stored on-chain. Ethereum’s ERC-721 standard, which is used to create NFTs, typically holds the metadata or a pointer to the art, which…
Amid the United States regulators increasingly scrutinizing stablecoins, the community continues to pitch new ideas of stablecoins independent from the U.S. dollar. Arthur Hayes, co-founder and former CEO of BitMEX cryptocurrency exchange, has proposed creating a new stablecoin with a value pegged to the sum of $1 worth of Bitcoin (BTC) and one inverse perpetual swap of BTC against USD.…
Lawyers of Jimmy Fallon, star of NBC’s long-running comedy and variety series The Tonight Show, have filed a petition to “quash” a subpoena requiring him to testify in the Yuga Labs Inc. v. Ripps et al. case. The lawyers claim that Fallon has no connection to the dispute, is not a party to the Ripps litigation, and has never met…
Lawyers of Jimmy Fallon, star of NBC’s long-running comedy and variety series The Tonight Show, have filed a petition to “quash” a subpoena requiring him to testify in the Yuga Labs Inc. v. Ripps et al. case. The lawyers claim that Fallon has no connection to the dispute, is not a party to the Ripps litigation, and has never met…
The Tokyo bankruptcy court trustee for the defunct Japanese bitcoin exchange Mt Gox, Nobuaki Kobayashi, has published a letter stating that creditors have until March 10, 2023 (Japan Time) to register their repayment claims. Kobayashi explains that the team is dealing with “a large number of inquiries” and may not be able to respond to creditors in time if they…
