In a recent development, the Commodity Futures Trading Commission (CFTC) investigators have uncovered violations of US regulations by crypto lending platform Celsius Network. These violations have also implicated the firm’s former CEO, Alex Mashinsky, potentially leading to legal proceedings against both Celsius and Mashinsky. Allegations of Misleading Investors and Regulatory Breaches Under Mashinsky’s leadership, investigators
The recently published minutes of the mid-June meeting of the Federal Reserve provided new insight into the group’s goals and plans for the immediate future. The minutes revealed a commitment to maintaining the current federal funds rate range of 5% to 5.25% and a strong dedication to bringing the inflation rate back to the target
Bitget, the crypto derivatives exchange, has recently introduced a groundbreaking crypto lending program called the Crypto Loans program. This initiative allows users to stake their own coins as collateral in exchange for loans in a different cryptocurrency. The program aims to cater to borrowers who are dissatisfied with traditional lenders, providing them with a unique
Bitwage, the crypto payroll company, recently made an announcement that it would be disabling payments in USD Coin (USDC) for U.S. residents. This decision comes amid a heightened regulatory scrutiny of the crypto space by financial regulators in the country. The move has raised concerns among users who will need to take action before July
In a groundbreaking move, Valkyrie Investments has resubmitted its spot-Bitcoin exchange-traded fund (ETF) application, signalling a potential shift in sentiment among regulators and the traditional financial industry. This article explores the implications of Valkyrie’s decision, the amendments made to the application, and the significance of the surveillance-sharing agreement with Coinbase. Following the Securities and Exchange
There has been a prevalent belief that the value of Bitcoin is directly impacted by the performance of the U.S. dollar in relation to other major global currencies, as measured by the Dollar Strength Index (DXY). According to this belief, when the DXY index declines, Bitcoin experiences a positive effect, and vice versa. For instance,
The resurgence of the crypto market this year has brought about a renewed interest in liquid staking, particularly within the Solana ecosystem. According to The Block Research, liquid staking protocols on Solana have experienced a staggering 91% increase in total value locked (TVL) since the beginning of 2023. Protocols such as Marinade Finance, Lido, Jito,
Over the weekend, the Poly Network, a cross-chain bridge designed to facilitate asset transfers across different blockchains, fell victim to a devastating hack. The hacker behind the attack managed to exploit the network and swap out nearly $10 million in ETH. This breach marks yet another incident in the growing list of DeFi exploits, highlighting
The United Kingdom has made significant strides in the regulation of the crypto industry, with Ripple senior executives Andrew Whitworth and Susan Friedman praising the country’s approach. The recent approval of the Financial Services and Markets Bill by the Royal family has marked a crucial step towards regulating crypto trading in the UK. According to
The cryptocurrency world witnessed its fair share of drama when Cameron Winklevoss, the co-founder of the Gemini cryptocurrency exchange, publicly issued an ultimatum to Barry Silbert, the CEO of the Digital Currency Group (DCG). Their clash dates back to nearly eight months ago when DCG holding company Genesis faced a series of setbacks, including halting