The US House of Representatives recently fell short of the required votes to override President Joe Biden’s veto and rescind SEC Staff Accounting Bulletin (SAB) 121. In a tight vote on July 11, 228 House members supported HJ Res. 109 to end SAB 121, while 184 voted against the resolution, and 21 abstained. Although the
The recent announcement of Anomaly Games joining the Google for Startups Cloud Program marks a significant development in the gaming industry. This strategic partnership is poised to revolutionize the sector by blending advanced cloud technology, artificial intelligence, and Web3 innovations. Indie game developers, tech entrepreneurs, crypto enthusiasts, and Web3 pioneers are in for an exciting
In a recent hearing, Judge Katherine Polk Failla criticized Coinbase’s attempt to subpoena SEC chair Gary Gensler in the ongoing case against the firm. She pointed out that the request included Gensler’s statements before he became SEC chair in 2021. Coinbase’s argument for seeking Gensler’s earliest comments was based on the need to confirm whether
Recent data has revealed a significant shift in the relationship between Bitcoin and US stocks. Previously, these assets exhibited a positive correlation, leading to a beneficial impact on the cryptocurrency market. However, according to information from the market intelligence platform IntoTheBlock, Bitcoin’s correlation with the Nasdaq 100 and S&P 500 has now plummeted to -0.78
After over a year of investigation, the US Securities and Exchange Commission (SEC) has officially ended its inquiry into stablecoin issuer Paxos. This decision was confirmed to Paxos on July 9, marking the conclusion of the investigation into the Binance USD (BUSD) stablecoin. The SEC stated that it would not be pursuing any enforcement action
Bitcoin’s recent surge towards $60,000 was met with a sudden halt as the digital asset experienced a minor retracement, settling just above $58,000. This fluctuation comes after a period of significant volatility in the cryptocurrency market. Among the larger-cap altcoins, Stacks has emerged as a standout performer, with a remarkable 14% increase in value. Following
Despite the challenges posed by the current market conditions, DWF Labs, a prominent Web3 market maker and investment firm, has set forth ambitious plans for further expansion and innovation. The recent unveiling of its new website marks the beginning of its pledge to uphold greater transparency and fair market practices, solidifying its position as a
Bitcoin (BTC) has recently broken above its bearish trendline, signaling a shift in market sentiment and sparking optimism among traders and investors. With a market capitalization exceeding $1.1 trillion and a trading volume of over $24 billion, BTC is currently trading at around $58,119, down by 1.37% in the last 24 hours. Despite the slight
Recently, the Canadian musician Drake made a substantial Bitcoin bet on the Copa America semi-final match between Canada and Argentina. Despite the odds being against Canada, with a potential profit of over $2.5 million in Bitcoin, Argentina emerged victorious with a 2-0 win. This loss adds to Drake’s history of significant betting losses. Past Betting
During a recent Senate Agriculture Committee hearing on digital commodities oversight, CFTC chair Rostin Behnam expressed the agency’s willingness to potentially become the primary regulator for cryptocurrencies. The discussion, which took place on July 10, revolved around the CFTC’s request for expanded regulatory authority in the realm of digital assets. Senator Roger Marshall questioned Behnam
An Ethereum whale has recently sparked concern within the community with a significant transaction indicating a possible intent to sell off their holdings. The transfer of 11,215 ETH ($34.3 million) to Coinbase has raised alarms, as such a move by a trader of this magnitude could have a substantial impact on Ethereum’s price. The potential
In mid-July, Binance made the decision to suspend deposits and withdrawals for approximately one hour to conduct scheduled wallet maintenance. This announcement caused some concern among users, as the exchange is known for its high trading volume and quick transactions. However, Binance assured the community that trading services would not be affected during this time
ShardLab, the blockchain arm of Hashed, a global Web3 venture capital firm, has unveiled a groundbreaking web application designed to streamline decentralized identity (DiD) and NFT voucher distribution processes. This new application leverages cutting-edge technologies such as account abstraction (AA) and zero-knowledge proofs (ZK) to enhance security and usability for everyday transactions, setting a new
Recently, wallets linked to the CoinStats exploiter made a move that raised eyebrows in the crypto community. A staggering $1 million in Ether was transferred into the controversial crypto mixing protocol known as Tornado Cash. This significant transfer occurred not long after CoinStats announced that they were conducting investigations into the exploit. The blockchain security
Blockchain technology has revolutionized the way we think about transactions and data storage. With the rise of cryptocurrencies, it has become essential to ensure the security of digital assets. Recently, Kraken, along with other key industry players, announced the formation of the Blockchain Security Standards Council (BSSC) to enhance security within the crypto sector. This
In recent news, Ethereum 2.0 staking has experienced a significant surge, reaching a major milestone with the deposit contract for staking on the Beacon Chain hitting a record high of 47.36 million ETH. Surprisingly, this accounts for a staggering 33.9% of the total Ethereum supply. These statistics, provided by the crypto analytic platform Santiment, indicate
Ethereum (ETH) has been making headlines in the cryptocurrency world as the top trending token. This surge in popularity can be attributed to the updated S-1 forms filed for spot ETH ETFs by major financial firms such as BlackRock, Fidelity, VanEck, 21Shares, Grayscale, and Franklin Templeton. The market intelligence platform, Santiment, highlighted Ethereum as the
Over the past 30 days, Bitcoin has experienced a significant price dip of around 15%. The most notable correction happened at the end of last week when BTC fell below $54,000 for the first time since February. However, in the past few days, the asset has managed to recover some of its losses and is
Shatterline, a dynamic arena shooter available on PC, has taken the gaming world by storm with its unique blend of player-versus-player (PvP) and player-versus-environment (PvE) modes. Since its early access release on Steam in 2022, it has garnered a dedicated fan base that appreciates its competitive and fast-paced gameplay. However, with the impending shutdown of
The recent drop in Bitcoin price below $60,000 has caused a stir in the crypto market, with major holders like the German and US governments engaging in rapid selling. This has led to substantial losses in the market, costing billions of dollars. Despite this bearish trend, the majority of Bitcoin investors are still seeing profits.
The recent news of Paxful’s co-founder and former CTO, Artur Schaback, pleading guilty to conspiracy has sent shockwaves through the cryptocurrency community. Schaback’s failure to establish, develop, implement, and maintain a compliant AML program as required by the Bank Secrecy Act has raised serious concerns about the company’s practices. The US Department of Justice’s Office
Katherine Dowling, the Chief Compliance Officer of Bitwise, recently stated that spot Ethereum ETFs are on the verge of approval. In a discussion with Bloomberg, she mentioned that the Securities and Exchange Commission (SEC) is receptive to discussions about various financial products. Dowling highlighted that the SEC and ETF issuers are making progress with each
The implementation of Europe’s Markets in Crypto-Assets Regulation (MiCA) on June 30 has resulted in a significant shift in the cryptocurrency market. With an increased demand for compliant stablecoins, Circle’s USDC has emerged as a primary beneficiary of this trend. According to French blockchain analytics firm Kaiko, non-compliant stablecoins currently account for 88% of the
Artur Schaback, co-founder and former CTO of Paxful Inc., recently pleaded guilty to conspiracy charges related to the failure of maintaining an effective anti-money laundering (AML) program. This negligence allowed Paxful to become a hotspot for various illicit activities, including money laundering, sanctions violations, fraud, romance scams, extortion schemes, and prostitution. Criminal activities flourished under
MetaMask, the popular browser extension wallet developed by Consensys, has introduced a groundbreaking innovation with the MetaMask Delegation Toolkit. This toolkit is specifically designed to revolutionize user onboarding in the Web3 space. By simplifying the process of accessing decentralized applications (dapps), MetaMask aims to eliminate user friction and provide a more seamless experience for users.
Bitcoin (BTC) has recently experienced a significant drop in price, reaching its lowest level since February 26. Despite hovering around the $57,000 range in the face of high volatility, Bitfinex analysts have identified on-chain indicators that suggest the leading cryptocurrency may be on the verge of a potential recovery. The correction in Bitcoin’s price was
Bitcoin has seen a significant decrease in price by more than -22% since its peak in mid-March, raising concerns among traders and investors. Jacob Canfield, a trading mentor at Trading Mastery, has conducted a thorough analysis of Bitcoin’s historical pricing trends, pointing to a potential further decline in the cryptocurrency’s value. According to Canfield, Bitcoin