CFTC Delays Civil Case Against Sam Bankman-Fried
A judge has granted a request by U.S. prosecutors to delay the Commodities and Futures Commission’s (CFTC) civil case against FTX’s Sam Bankman-Fried until after the criminal fraud case against him is completed. Prosecutors argued that a stay in both the CFTC and Securities and Exchange Commission (SEC) cases would save time and resources as the outcome of the...
SEC Settlement with Kraken Raises Questions for Ethereum Staking
The U.S. Securities and Exchange Commission (SEC) and Kraken, a leading crypto exchange platform, reached a surprise settlement last week, raising questions about the future of “staking” on blockchains like Ethereum. Ethereum experts and blockchain analysts believe this development may have positive effects, such as helping to decentralize the Ethereum network and making it easier for service providers to...
SEC to Take Action Against BUSD, BNB Down 6.5%
The SEC is set to launch enforcement action against Paxos, the issuer of BUSD, as it deems the stablecoin a security. This news has caused Binance's BNB token to drop 6.5%, while Bitcoin and Ether remain flat. Paxos has stated that it will vigorously defend itself, and the issue is going to court. This news has caused some concern...
$831M Net Outflows From Binance Exchange
Binance, the world’s largest crypto exchange, has seen $831 million of net outflows in the past 24 hours, according to blockchain intelligence firm Nansen. This is likely due to a regulatory crackdown on the Paxos-issued Binance USD (BUSD) stablecoin, causing investors to reduce their holdings on the platform. Nansen's data shows that users withdrew $2.8 billion of digital assets...
Magic Eden Partners with MoonPay for NFT Purchases
Magic Eden, a Non-fungible token (NFT) marketplace, has partnered with Web3 payment platform MoonPay to offer new payment options for buying digital collectibles. This strategic partnership allows Magic Eden users to purchase NFTs across chains using a credit or debit card, Apple Pay and Google Pay. The goal of this partnership is to make the process of onboarding new...
Nexo Stops Earn Interest Product for US Clients
Nexo, a crypto lender, has stopped its Earn Interest Product (EIP) for all U.S. clients, residents and citizens, effective Feb. 10. This decision follows the firm's $22.5 million fine from the U.S. Securities and Exchange Commission (SEC) for failing to register the offer and sale of EIP. Additionally, Nexo has stopped onboarding clients in the U.S. and has stopped...
Cryptocurrency Whitepaper: What It Is and Why It Matters
A cryptocurrency whitepaper is a comprehensive document that outlines the goals, features, and tokenomics of a blockchain or cryptocurrency project, providing a valuable source of information for those interested in researching the project. What is a Whitepaper? A whitepaper is a document that outlines the main features and technical specifications of a cryptocurrency or blockchain project. It can provide an overview of essential data...
Bitcoin Tests $20K: Reasons to Remain Bullish
Bitcoin prices have dropped to $21,750 according to the CoinDesk Bitcoin Price Index (XBX). Joe DiPasquale of BitBull Capital believes that bitcoin is now making an “underside test” and could fall to $20,000 or below. Ether is also down 1.8% to $1,514. The Securities and Exchange Commission's move against Kraken's staking program isn't an attack on staking as a...
DCG to Sell Genesis Global Trading, Holdco
Genesis Global Holdco, which filed for bankruptcy protection last month, has unveiled the final details of a proposed plan to sell itself and Genesis Global Trading to help parent Digital Currency Group pay off creditors. The proposal, filed with a bankruptcy court on Friday, involves DCG turning its equity in Genesis Global Trading over to Genesis Global Holdco, as...
Clearpool Launches Institutional Credit Platform on Polygon Network
Clearpool, a decentralized finance (DeFi) protocol, has announced that it will deploy its institutional credit platform Prime exclusively on Ethereum scaling tool Polygon network. Rob Alcorn, CEO and co-founder of Clearpool, said that they have been working closely with the Polygon team since they launched the permissionless protocol on Polygon in June and have a strong relationship. This move...
