Highlighting Germany’s crypto license as an example of attractive regulation, Birgit Rodolphe writes that similar frameworks should be the same throughout the EU to “prevent a fragmented market.”
The Department of Justice (DOJ) has filed its first criminal complaint against an American who allegedly used cryptocurrency to circumvent U.S. sanctions. “The payments platform advertised its services as designed to evade U.S. sanctions, including through purportedly untraceable virtual currency transactions.” DOJ Charges US Citizen in Crypto Sanctions Evasion Case The U.S. Justice Department has […]
“Ethereum’s overwhelming mindshare helps explain why its users have been willing to pay more than $15 million in fees per day on average just to use the blockchain,” a16z stated.
I noticed Metis Network is just a fork of Optimism L2. Looked at Optimism’s Github and glanced at the instructions, deploying your own L2 fork seems simple enough. Some brainstorming later, it seems like having a wallet that would make bridging assets between L2 networks would be a major milestone. When dapps start deploying their…
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Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zillion more money than it had.” Elon Musk on U.S. Recession and Inflation Elon Musk, […]
The crypto bloodbath continues to rage on, as bitcoin drops 13%, although to a lesser degree than what was experienced last week. Due to this, there have been several migration patterns recorded in crypto investors as they look for the best safe haven. The first had been the flight to stablecoins for cover from the unending losses. However, the tide has changed on this once again as investors look to now be flocking back to bitcoin, causing dominance to rise. Bitcoin Re-Establishes Dominance The decline has affected all cryptocurrencies in the market but data shows that some more than others have had a worse time of it. Altcoins, especially the small cap altcoins, have recorded the highest losses as expected. Bitcoin is not spared from this though. Related Reading | Ethereum Hashrate Breaks All-Time High, Will Price Follow? The largest cryptocurrency by market cap is now down 13% price-wise but this has not stopped it from re-establishing its dominance over the market, touching a new six-month high. It is now at a 44.4% dominance and it hasn’t been this high since October of 2021. BTC dominance returns | Source: Arcane Research Mostly, the decline of investor sentiment into the negative has been one of the major factors in driving investors towards bitcoin. Since altcoins are getting hammered in the market, investors are looking to BTC, which they believe to be a safer bet compared to the lesser cap coins. The result of this has been money from altcoins being moved into bitcoin, leaving altcoins behind this. As such, bitcoin has only recorded a 23% decline since the month of May began, the lowest decline of all the indexes. Others have recorded higher declines. The Large Cap Index came in with a 28% loss in the last two weeks, the Mid Cap Index with 31% in the same time period, while the Small Cap Index has been hit the worse with a 37% decline. Stablecoins Take A Hit The whole UST debacle has begun to settle but the effects of the third-largest stablecoin crashing continue to affect its counterpart. After the UST de-pegging, some of that low sentiment had flowed into the largest stablecoin, USDT, which had lost 10% of its market cap. BTC dominance reaches six-month high | Source: Market Cap BTC Dominance on TradingView.com One of the reasons for this though had also been the peg of the stablecoin being challenged as bitcoin’s price declined. It is also speculated that some of the funds leaving USDT had flowed into another stablecoin, USDC, which happens to be the second-largest stablecoin. Related Reading | Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market Both these stablecoins have continued to maintain their dollar peg though. This leaves UST as the only stablecoin that lost its peg. Featured image from Yahoo Finance, charts from Arcane Research and TradingView.com
Hello, This is a template I made to easily keep track of my investments. I've decided to share it for free as a give back to the community. 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬 ————- https://www.youtube.com/watch?v=gIlkqdGDb8s 𝐇𝐨𝐰 𝐢𝐭 𝐰𝐨𝐫𝐤𝐬 (𝐆𝐮𝐢𝐝𝐞 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐝) ——————————————- Portfolio’s Currency is selected. History is inputted either with a CSV file or manually (Transactions, Trades,…
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South Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins. South Korea’s Emergency Investigation Into LUNA, UST South Korea has launched an “emergency” investigation of domestic crypto […]
Not to beat a dead horse, but on another episode of Everyone Saw This Coming, the founder of Maker predicted the Terra crash. 4 months ago. https://imgur.com/gallery/3MtTiWd It seems anyone who was in the crypto space saw the obvious Ponzi scheme of Terra Luna for what it was. How could this information be beneficial? These…
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The crypto hawk Biden appointee will sponsor a panel of 36 financial industry executives, thought leaders and other prominent figures.
