The growth of stablecoins that are not fully backed by safe assets could trigger a destabilization in short-term credit markets, rating agency Fitch has warned. In a commentary note, the agency explained that coins that are fully backed by safe assets pose a lesser risk for the financial markets. The agency gives USD Coin (USDC), …
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The Philippine Stock Exchange (PSE) is aiming to be first in line when financial regulators give the green light for crypto asset trading in the country. On Friday, July 2, CNN reported that PSE president and CEO Ramon Monzon said the local bourse should be the country’s first exchange platform for crypto assets. He stated: …
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Litecoin Maintains Position Close to $150 – July 4The market operation of LTC/USD presently maintains a position close to the point of $150. Price trades around the level of $144 at a positive increased rate of about 2.24 percent as of writing. Maintains Position Close to $150: LTC MarketKey Levels:Resistance levels: $170, $220, $270Support levels: …
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The crypto-friendly state of Wyoming has approved the first legally recognized Decentralized Autonomous Organization (DAO) in the United States. The American CryptoFed DAO received notice from the Wyoming Secretary of State’s office on July 1 recognizing it as a legal entity, according to a July 4 announcement. Marian Orr, CEO of the American CryptoFed DAO, …
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Leading DeFi money market, Aave, has announced plans to launch a permissioned version of its platform for institutional investors this month. The platform will be launched in partnership with crypto custodian and service provider, Fireblocks. On June 4, Twitter user “TraderNoah” shared a screenshot of an email they claim to have received after attending Blockworks’ …
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EY, the multinational professional services network commonly known as Ernst & Young, has announced the company has contributed a set of tools for privately managing transactions on the Ethereum network. EY’s global media relations executive Joanna Hardy explained on Thursday how the company’s protocol helps ethereum transaction fees become more affordable and it enables the …
The U.S. has sold about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a fraud case. The seized bitcoins were sold for nearly …
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SEC Commissioner Hester Peirce says that the regulator should have approved a bitcoin exchange-traded fund (ETF) in the U.S. a long time ago. She emphasized that it is not the SEC’s job to approve or reject applications based on the merits of the underlying investment itself. “People should make their own decisions” whether to buy …
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The crypto analyst and the host of Coin Bureau may be changing his mind about the Dogecoin (DOGE) copycat, Shiba Inu (SHIB). In a new strategy session dedicated only to Shiba Inu, the Coin Bureau host known as the Guy says that since Coinbase decided to list SHIB, he’s started to pay closer attention to …
The Securities and Exchange Commission’s (SEC) unwillingness to approve a Bitcoin exchange-traded fund (ETF) in the U.S. is outdated and borders on double standards, according to the agency’s commissioner Hester Peirce, also known as “Crypto Mom.” “That is probably the biggest, the most-often-asked question that I get: When will the SEC approve a Bitcoin exchange-traded …
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The Angolan central bank’s monetary policy committee (MPC) recently hiked the country’s benchmark interest rate from 15.5% to a record of 20%. The largely unexpected hike, which is one of the National Bank of Angola (NBA)’s attempts to curb inflation, marks the first time the benchmark rate has been increased since November 2017. Rising Inflation …
During the last three months, there’s been a significant focus on the effects bitcoin mining has on the global environment. While many have claimed bitcoin mining is bad for the environment and many others have stressed that it affects the environment in a positive way, either way, most are relying on unreliable and old data …
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Analysts are predicting a rise in Bitcoin mining profitability of about 35% during the short term. This would be the effect of the bitcoin mining crackdown in China. Since the crackdown happened, a significant portion of hashrate stemming from the Bitcoin network disappeared. Ousted miners are struggling to relocate, and some might not even make …
The Financial Crimes Enforcement Network (FinCEN) has named “cybercrime, including relevant cybersecurity and virtual currency considerations” a national priority. In particular, the Treasury is concerned about the “misuse of virtual assets that exploits and undermines their innovative potential, including through laundering of illicit proceeds.” FinCEN, a bureau of the U.S. Department of the Treasury, published …
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The co-founder of the crypto derivatives exchange Hxro says he’s accumulating several crypto assets during the market downturn. In a new episode of Delta-Fi, Rob Levy says he’s not concerned about nailing the exact bottom of the crypto correction. ADVERTISEMENT As the markets search for direction, Levy says he’s accumulating Bitcoin, Ethereum, the relatively …
