Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms. Speaking before the Texas Work Group on Blockchain Matters in Austin on Friday, Beck suggested limiting the issuance of U.S. dollar-backed stablecoins to licensed banks …
Monthly archives: August 2022
FTX blocks Aztec Network privacy DApp, calling it a ‘high risk’ mixer
FTX has reportedly begun blocking accounts that have sent coins through zk.money, a private layer-2 chain provided by the Aztec Network on Ethereum. According to Twitter users, FTX has identified the DApp as a mixer — a service it deems a “high-risk activity” prohibited by the exchange. Reports of blocked transactions on FTX began appearing …
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FTX US among 5 companies to receive cease and desist letters from FDIC
The Federal Deposit Insurance Corporation (FDIC) has issued cease and desist letters to five companies for allegedly making false representations about deposit insurance related to cryptocurrencies. FDIC issued a Friday press release disclosing cease and desist letters for cryptocurrency exchange FTX US and websites SmartAssets, FDICCrypto, Cryptonews and Cryptosec. In the letters, which were issued …
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FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance
The Federal Deposit Insurance Corp. (FDIC) said Aug. 19 that it issued letters demanding Cryptonews.com, Cryptoytosec.info, SmartAsset.com, FTX.US and FDICCrypto.com to stop making misleading statements about FDIC deposit insurance and implement corrective measures. FDIC deposit insurance protects customers in the unlikely event of the failure of an FDIC-insured bank. In the cease and desist letters …
FTX users complain about fund freezes after interacting with privacy protocol Aztec Network
FTX has allegedly warned users against interacting with high-risk services as complaints surfaced that the exchange is blocking accounts that interacted with zk money on the Aztec network. Chinese journalist Colin Wu reported Aug. 19 that a user’s account was frozen for making a transfer to his zk money account. Recently, FTX froze a user …
Bitcoin Miners Take in Bear Rally Profits by Selling More Than 6,000 BTC Since August 1
Bitcoin’s value against the U.S. dollar lost 7.3% during the last 24 hours after more than $600 million in value was removed from the $1.07 trillion crypto economy. Statistics show that a number of bitcoin miners capitulated over the last two weeks, selling 5,925 bitcoin worth millions, according to cryptoquant.com data. More Than 6,100 Bitcoin …
Crypto Fear and Greed Index Shows Market Sentiment Remains Fearful
After the Crypto Fear and Greed Index (CFGI) dropped to significant lows and pointed to “extreme fear” in crypto markets at the end of May, and throughout most of June, today the CFGI rating is still in the “fear” zone, but it has seen an improvement. On June 19, the CFGI rating tapped a low …
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Here’s What’s Next for Ethereum and Bitcoin Amid Sharp Crypto Market Downturn, According to Top Analyst
A widely followed crypto analyst is laying out the support levels both Bitcoin (BTC) and Ethereum (ETH) need to hold to recover from the market’s most recent downswing. The pseudonymous trader known as Rekt Capital tells his 327,000 Twitter followers that the leading smart contract platform could close as low as $1,550 and still recover. …
Two Under-the-Radar Altcoins Kick Off Trading on Digital Assets Exchange Crypto.com
Singapore-based digital assets exchange Crypto.com is continuing its listing spree and adding support for two more low-cap altcoins. Earlier this week, the exchange listed HIGH, the native asset of open-world metaverse game Highstreet. The game offers virtual real estate and an online shop, and can be played via virtual reality on standard computers as well …
Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon
Crypto exchange platform Gemini is rolling out staking services for blockchain scaling solution Polygon (MATIC). The exchange is making Polygon staking available to customers in the United States (excluding New York), Hong Kong and Singapore, per a new announcement. Gemini also plans to roll out staking for other prominent altcoins, such as Ethereum (ETH), Solana (SOL), …
South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official
A top official who oversees Colombia’s financial regulation and tax collection agency says that the second-most populous South American nation is exploring the idea of rolling out its own digital currency. In a new interview with Semana magazine, National Tax and Customs Directorate (DIAN) director general Luis Carlos Reyes says that the government of newly-elected …
Crypto Unicorns founder says P2E gaming is in a long ‘maturation phase’
As the hype surrounding play-to-earn (P2E) games and platforms began to dwindle in early 2022, Web3 participants began to emphasize the need for games to be more “fun” and less finance-oriented. In the most recent episode of NFT Steez, Alyssa Expósito and Ray Salmond spoke with Aron Beireschmitt, the CEO of Laguna games and founder …
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Celsius Network coin report shows a balance gap of $2.85 billion: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, Celsius’s financial troubles mounted further as a new coin report showed the company had a balance gap of $2.85 billion, more than double what it had …
Price analysis 8/19: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX
Bitcoin (BTC) and most major altcoins witnessed a sharp sell-off on Aug. 19, but there does not seem to be a specific trigger for the sudden drop. The sharp fall resulted in liquidations of more than $551 million in the past 24 hours, according to data from Coinglass. Barring a V-shaped bottom, other formations generally …
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ATOM Faces Downside; Tamadoge Goes Bullish
ATOM is facing a downward trend; the dip is likely to worsen because of a recent decline in the crypto world. Cosmos Prediction Statistics Data: Cosmos price now – $10 Cosmos market cap – $3.0 billion Cosmos circulating supply – 286.3 billion Cosmos Coinmarketcap ranking – #26 ATOM/USD Market Key Levels: Resistance levels: $15, $16, …
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