After nearly a decade of gridlock, the United States may finally be on the cusp of crafting a cohesive policy framework for digital assets. In Congress, lawmakers are mulling a variety of proposed bills governing everything from stablecoins and securities rules to sanctions. The 2024 presidential race, meanwhile, may be the first to see crypto
Month: June 2023
Curve DAO’s governance token CRV dropped 12% on June15 after reports surfaced of risky loans taken by its founder, Michael Egorov, on Aave. The token recorded its lowest trading level against ether (ETH) at 0.00035010 ETH on June 15. According to on-chain analytics outlet LookOnChain, Egorov deposited 431 million CRV (worth around $246 million) across
A United States federal judge is reportedly weighing a proposal to split former FTX CEO Sam Bankman-Fried’s (SBF) criminal charges into two trials following a filing from prosecutors. According to a June 15 report from the Wall Street Journal, Judge Lewis Kaplan of the Southern District of New York was considering whether to dismiss or
Hong Kong lays out the red carpet for crypto exchanges While some jurisdictions (cough: America) have adopted a regulation-by-enforcement approach toward crypto, others are doing the opposite. According to a June 15 report from The Financial Times, the Hong Kong Monetary Authority is pressuring major financial institutions to accept crypto clients. But it’s not just
Blockchain payments technology company Ripple is set to partner with Colombia’s central bank, Banco de la República. They aim to research potential applications of blockchain technology within Colombia, a significant development in South America’s adoption of this technology. This collaboration will also involve the Ministry of Information and Communications, as they plan to test possible ways
Bitcoin (BTC) is copying the prelude to its 2020 breakout to an “insane” extent, the co-founders of Glassnode have said. In a tweet on June 15, Yann Allemann and Jan Happel highlighted three BTC price metrics which are anything but bearish. Metrics echo Bitcoin’s “major reversals and rallies” BTC/USD reached local highs of $31,000 in
A DeFi options platform using social logins and undercollateralized trading to draw in liquidity providers just launched, according to a June 15 announcement. The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platforms, the team claims. Synquote user interface. Source: Synquote According to the announcement, Synquote did
Hong Kong-based crypto exchange CoinEx has been banned from operating in New York by Attorney General Letitia James. According to an announcement on June 15, over $1.7 million worth of the exchange’s funds were seized for allegedly failing to register as a securities and commodities brokerage. The agreement resolves a previous lawsuit against CoinEx from
Amid the panic over lawsuits against major cryptocurrency exchanges, one Bitcoin (BTC) advocate argued that the BTC market is much bigger than the one tracked by exchanges. The total Bitcoin market is not limited to Binance, Coinbase or any other crypto exchange, Jan3 CEO Samson Mow told Cointelegraph at the BTC Prague conference on June
Bitcoin (BTC) returned above $26,000 on June 13 as analysts eyed resistance overhead. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin price inches between trend lines Data from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to reclaim $26,000 support after the daily close. The pair had seen a curiously uneventful start to the
Bitcoin (BTC) stayed below $25,000 on June 15 after a snap reaction to United States economic policy changes saw three-month lows. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Hawkish Powell “all bark, no bite” Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it consolidated after the prior day’s losses totaled over 3%.
The Hong Kong Monetary Authority (HKMA), which serves as the region’s central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients. According to a June 15 report from the Financial Times, which cited three sources familiar with the matter, the HKMA questioned the
The United States equities markets rose after the consumer price index print on June 13 came in below expectations but Bitcoin (BTC) and the altcoins failed to recover. This suggests that cryptocurrency traders are focused on crypto-specific issues and are not buying on favorable macroeconomic news. However, there is a ray of hope for the
The price of BNB (BNB) is up around 3% today, in part due to bearish traders opening more BNB-tied contracts despite suffering losses via liquidations in the past 24 hours. In addition, BNB stands extremely “oversold,” which may have prompted traders to buy the dip. BNB price bounces after being “oversold” On June 14, BNB
The crypto market remains volatile after the June 14 Federal Open Market Committee (FOMC) announcement and presser with Fed Chairman Jerome Powell revealed that the central bank would pause rate hikes for June. While this move aligned with investors’ expectations, the crypto market has yet to show any bullish momentum. Powell also mentioned that at
Bitcoin’s price has been pinned below $26,300 since June 10, reflecting a 14.8% correction in two months. Meanwhile, the Nasdaq tech stock market index gained 13.6% in the same period, indicating that investors are not exactly fleeing to the safety of cash and short-term debt. In fact, the demand for United States government bonds has
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