After reviewing Paxos Trust Company’s Binance USD (BUSD) stablecoin, the U.S SEC has chosen to end its inquiry. Announced via a termination notice, the outcome brings much-needed clarity to the industry’s regulatory landscape regarding stablecoins. The acting chief of the SEC’s crypto assets and cyber branch, Jorge Tenreiro, notified Paxos
July 11, 2024 2 mins read
The Senate Agriculture Committee recently heard testimony from CFTC Chairman Rostin Behnam, who addressed the topic of digital asset categorization in the context of the crypto market. Bitcoin (BTC) and Ethereum (ETH) were acknowledged as commodities under the Commodity Exchange Act by the U.S. Illinois court, according to Behnam. Additionally,
July 11, 2024 2 mins read
Notable update has emerged from Sam Altman’s co-founding company, Worldcoin, as they have decided to postpone the redemption date for WLD Grant Reservations. The project’s native cryptocurrency, WLD, shot up in price today, surpassing the $2 mark, thanks in large part to this update. The Worldcoin Foundation recently announced a
July 11, 2024 2 mins read
Launched via a cooperation with custodian company Paxos in August 2023, PayPal’s USD-pegged stablecoin PYUSD has had its market supply surpass 500 million tokens. By the end of 2023, PYUSD’s supply had grown to 230 million after its launch. According to statistics compiled by DeFiLlama, the total quantity of stablecoins
July 9, 2024 1 min read
The USDC stablecoin issuer Circle, has announced launch of EURC, its first euro-backed stablecoin, on Base, a layer 2 blockchain. Developers are being incentivized to create a digital currency backed by the euro in an attempt to facilitate quicker and cheaper transactions for people all around the world. It is
July 9, 2024 2 mins read
Bitfarms, a Bitcoin mining firm based in Canada, has named Ben Gagnon as its new chief executive officer (CEO) amidst ongoing rivalry with Riot Platforms, Ltd. Given Bitfarms’ present struggle for power with Riot Platforms, this leadership transition is very crucial. Starting today, Ben Gagnon, who had previously been Bitfarms’
July 9, 2024 2 mins read
Bitstamp has assured to pay out debtors who were owed payments by Mt. Gox as soon as possible. The crypto exchange intends to reimburse investors far sooner than the 60 days allowed by their agreement with the Mt. Gox trustee for distributing tokens. Several Japanese creditors of Mt. Gox have
July 8, 2024 2 mins read
Over the last month, Bitcoin has maintained its downward trajectory. Bitcoin fell to $53,485—its lowest point in four months—a decline of 8.55%. The collapse and selling pressure are linked to the Bitcoin repayments made to creditors by the now-defunct cryptocurrency exchange Mt. Gox. While the week started with a price
July 6, 2024 1 min read
Sam Bankman-Fried’s (SBF) family is embroiled in a $100 million financial controversy. These involve the abuse of business assets to make political contributions. SBF is the founder of the defunct crypto exchange FTX. The Wall Street Journal (WSJ) recently published emails. That showed the SBF family handled more than $100
July 5, 2024 2 mins read
U.S Spot Bitcoin ETFs again are seeing withdrawals, with the most recent reaching $35 million, after a short period of inflows. Lookonchain, a blockchain analytics platform, disclosed today that Grayscale (GBTC) withdrawals were $30.7M. The investment asset management organization now has 274,734 units of Bitcoin ($15.76 billion), after this $30.7
July 5, 2024 2 mins read