Democratic Party members of the U.S. House Committee on Financial Services were handed a memo instructing them to back the party’s position on crypto regulation moments before the commencement of the hearings on May 10. According to the party’s leaked memo, Democrats on the committee were expected to point to the Republican Party’s lack of interest in protecting investors. The…
An influx of VC funding has flowed into the European crypto market over the past couple months—something executives have said is because of the landmark crypto regulation in the European Union. Markets in Crypto Assets (MiCA), is a regulatory framework that was approved earlier this year and will likely become law in July this year. The legislation aims to regulate…
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand. Low Inflation Numbers in China Worry Analysts China,…
Creditors of the bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims as part of an “interim dividend.” According to a May 12 notice to creditors from QuadrigaCX’s bankruptcy trustee Ernst & Young (EY), each “creditor with a proven claim will receive 13.094156% of their proven claim less the levy amount payable to the Office…
Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Friday that it is “proactively withdrawing from the Canadian market.” The company thanked the regulators who worked with them and said that the Canadian market was “small.” Binance Bows Out of Canada Due to Regulatory Guidance The cryptocurrency exchange Binance has decided to withdraw from the Canadian market. The…
Assassin’s Creed, one of Ubisoft’s most popular gaming franchises, has announced a series of customizable “smart collectibles” featuring both digital and physical components. The collectibles are set to drop on May 16 and consist of a transparent 3D-printed cube with a character figure inside, along with a Polygon-based NFT called a “Digital Soul” which provides proof of ownership. End/ .…
Binance is the latest in a string of departures from CEO Changpeng Zhao’s home country; it promises to keep working with regulators. Source: https://cointelegraph.com/public/index.php/news/binance-calls-it-quits-in-canada-blames-new-rules
In less than two weeks, the total value locked (TVL) in liquid staking derivatives has increased by 441,110 ether, worth roughly $793 million. While Lido Finance dominates the market with 74.35% of the TVL, competing liquid staking protocols Rocket Pool and Frax Ether have recorded double-digit gains of 34% to 42% in the past 30 days. Number of Ethereum Locked…
The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as possible,” said the IMF’s director…
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