Cryptocurrency

Top Stories This Week Kraken reaches $30M settlement with SEC over staking as IRS seeks user information Kraken has agreed to stop offering staking services or programs to United States clients after reaching an agreement with the U.S. Securities and Exchange Commission (SEC). Along with ceasing operations, the crypto exchange will pay $30 million in

Ethereum’s native token, Ether (ETH), saw its worst daily performance of the year as the United States Securities and Exchange Commission (SEC) stopped Kraken, a cryptocurrency exchange, from offering crypto staking services. On Feb. 9, Kraken agreed to pay $30 million to settle the SEC’s allegation that it broke securities rules by offering crypto staking

Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Crypto wipeout mounts as BTC price loses $22,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $21,633 on Bitstamp. The pair reacted badly to regulatory fears

Bitcoin (BTC), Ether (ETH) and even nascent altcoins are a solid “buy,” a previously risk-off investor says. In a blog post released on Feb. 8, industry stalwart Arthur Hayes announced a u-turn on his current crypto investment plans. Hayes changes tune on “risky assets” Current macroeconomic conditions stemming from the United States Federal Reserve previously made

The hunt for the controversial founder of the now-collapsed Terra ecosystem, Do Kwon, has intensified with South Korean officials reportedly confirming they sent at least two people to Serbia to track him down. According to a Feb. 7 Bloomberg report, the prosecutor’s office in Seoul said the reports “aren’t false” regarding members of its team

Bitcoin (BTC) rebounding 40% in January sparked the largest inflows of institutional cash since June 2022, data shows. In its “Digital Asset Fund Flows” Weekly” report on Jan. 30, digital asset investment and trading group CoinShares confirmed $117 million headed into crypto in the last week of the month. Institutions “not sold” on post-merge Ethereum

The price of Fantom (FTM) risks pulling back in February due to a growing divergence between its price and momentum in recent weeks. FTM price rallies 230% after Cronje’s 2023 roadmap FTM’s price has grown by 230% in the past five weeks, trading at $0.61 on Feb. 5. The rally came as a part of

A luxury rehabilitation center in Spain has recently added services aimed at treating a relatively new kind of addiction — crypto trading. The center, called “The Balance,” is a Switzerland-founded wellness center, with its main facility located on the Spanish island of Mallorca along with branches in London and Zurich. While it has long treated

The next crypto bull market will start sooner than most people think, according to Mark Yusko, founder and CEO of Morgan Creek Capital Management. Yusko thinks the next crypto bull run or, as he calls it, “the crypto summer,” could kick off as soon as the second quarter of this year due to the combination

In September 2022, Interchain Foundation, the team behind Cosmos’ development , introduced the Cosmos ATOM 2.0 whitepaper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund the Cosmos ecosystem development and reduce ATOM inflation. While the whitepaper launch acted as a bullish catalyst for ATOM price, the community vote to

Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the

Bitcoin (BTC) gained about 40% in January, its best finish in the first month of the year since 2013. The sharp rally caused a change in sentiment and the futures markets, which saw backwardation in November and December,started trading at a healthy contango in January, according to Glassnode. Coming out of a bear market low,

According to a Jan. 31 post by Ethereum Foundation developer Parithosh Jayanthi, the “Zhejiang” public withdrawal testnet will launch on Feb. 1 at 3:00 pm UTC. Six days after Zhejiang, the Shanghai and Capella testnets will also be triggered at epoch 1350. Jayanthi noted: “This is also a great opportunity for all tools to test

Traders tend to lighten up positions before important events because they hate uncertainty. The United States Federal Reserve’s next policy decision is on Feb. 1, when the central bank is expected to hike rates by 25 basis points. Market observers will keenly watch for any hints about how high the rates could go. That could

Despite a challenging year for crypto, 82% of millionaire clients had looked into investing in digital assets such as Bitcoin (BTC) in 2022, according to a recent poll conducted by financial advisory firm deVere Group.  The poll results, released on Jan. 30, found that eight out of every 10 of the firm’s high net-worth (HNW) clients

The third version of the crypto lending app Aave has now been deployed to Ethereum for the first time, according to a Jan. 27 Twitter thread from the Aave team. “Aave v3” was originally released in March 2022 and deployed on multiple Ethereum Virtual Machine (EVM)-compatible blockchains shortly afterward. Until now, Ethereum users only had

Top Stories This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a wide range of global companies. Among the potential creditors are airlines, hotels, charities, banks, venture capital companies, media outlets and crypto

Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27, leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posing as a virtual land mint. Hackers stole $751,321.80 in USDC from a single wallet within half an hour of the malicious links being tweeted,

Despite the plans to turn the region into a bustling crypto hub, the United Kingdom’s financial watchdog says it has given the all-clear to only 41 out of 300 crypto firm applications seeking regulatory approval to date. The U.K. Financial Conduct Authority (FCA) implemented the new cryptocurrency-focused regulations on Jan. 10, 2020, to supervise businesses

Artist name: Amber VittoriaLocation: Los AngelesDate minted first NFT: March 1, 2021Which blockchains? Ethereum, Tezos Bio: Before she even turned 30, Amber Vittoria had made a significant splash in the traditional art world with gigs with Gucci, Google, Adidas, Victoria’s Secret, Apple, L’Oréal Paris, Meta, Snapchat, VaynerMedia and The New York Times, Hailing from New

The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was a lack of user growth.  Still, the metaverse narrative is far from dead and will grow

The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August and again in early November 2.  Ether/USD price index, 2-day. Source: TradingView From one side, traders are relieved that Ether is

Ethereum co-founder Vitalik Buterin has shared a possible solution to what he describes as the “largest remaining challenge” foEthereum — privacy. In a blog post on Jan. 20, Buterin acknowledged the need to come up with a privacy solution because by default, all information that goes onto a “public blockchain” is public too. He then

After nearly a 20% rally last week, Bitcoin (BTC) is on track to end this week with gains of roughly 10%. Bitcoin’s rally has improved sentiment and attracted buying in several altcoins. This sent the total crypto market capitalization firmly above the $1 trillion mark. The strong recovery in Bitcoin has startled several analysts who

The philanthropic arm of Binance — Binance Charity — is set to fund 30,65 scholarships to students keen on forging out a career in Web3 in 2023. The Binance Charity Scholar Program (BCSP) will provide free Web3 education and training courses which will enable tech-savvy students to upskill without having to leap-frog any unnecessary financial

The United States equities markets are on track to finish the week in the red but that has not resulted in a deeper loss for Bitcoin (BTC). The news of cryptocurrency lender Genesis filing for Chapter 11 bankruptcy also did not have any meaningful impact on Bitcoin’s price. This shows that the selling pressure could

Several crypto industry commentators have expressed skepticism about FTX CEO John Ray’s vision to potentially reboot the crypto exchange, citing trust issues and “second-class” treatment of customers as reasons why users may not “feel safe to go back.” Former FTX CEO Sam Bankman-Fried tweeted on Jan. 20 praising John Ray for looking at a reboot

Bitcoin (BTC) may gain another 50% before seeing a mass sell-off to complete its bear market, new research predicts. In the latest edition of its regular markets newsletter, “The Crypto Circular,” trading firm QCP Capital delivered a grim warning to those who believe that crypto winter is over. Research warns of “final Wave 5 selloff”

Ethereum (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September 2022. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark.  Ether/USD price index, 2-day. Source: TradingView If Ethereum price were to break above

Digital assets will largely decouple from traditional equity markets in 2023, believes Arca chief investment officer Jeff Dorman. Discussing his outlook for 2023 in a recent interview with Cointelegraph, Dorman argued that as the global economy enters a recession this year, equities will be negatively affected while some cryptocurrencies will perform well. The value of