The Financial Sector Conduct Authority is demanding tighter regulatory control over cryptocurrency. South African regulators are seeking to exercise more control over cryptocurrency trading following the collapse of what was alleged to be the largest Ponzi scheme the country has ever seen. Self-proclaimed Bitcoin (BTC) trading firm Mirror Trading International was placed in provisional liquidation…
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A handful of DeFi tokens saw strong rallies even as bears continue to pin Bitcoin price below $33,000. Today Bitcoin (BTC) price continued to face selling pressure in the $32,500 to $33,000 resistance cluster and this led to a mild 3% to 5% pull back from most altcoins. Despite the recent revelation that BlackRock, the…
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While we would be remiss not to laud the SEC’s statement as a step in the right direction, the shortcomings are inescapable. On Dec. 23, 2020, the SEC published a statement proposing a framework for broker-dealers to custody digital asset securities in a manner consistent with Rule 15c3-3 under the Securities Exchange Act of 1934.…
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Let’s double down on making crypto accessible and usable for real people. When Bitcoin (BTC) launched in 2009, it was motivated by the distrust of financial institutions and their fees and the inflationary practices by central banks during the Great Recession. Bitcoin was supposed to usher in an era of decentralization, financial inclusion and democratization. …
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Overstock subsidiary Medici Ventures will cease providing all previous services pending a full conversion into a limited partnership fund. Online technology retailer Overstock is converting its blockchain investment wing into a cryptocurrency-focused investment fund as it seeks to maximize profits amid the crypto boom. Overstock.com announced on Monday that its wholly owned blockchain-focused subsidiary, Medici Ventures,…
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Foundry entered the cryptocurrency mining game in August 2020. Foundry, a wholly owned cryptocurrency mining subsidiary of Digital Currency Group, or DCG, has entered the top 10 largest Bitcoin (BTC) mining pools in the world. The firm’s CEO, Barry Silbert, announced the news on Tuesday, predicting that Foundry will soon break into the top five mining…
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Substantial spot volume, a favorable futures premium, and top traders buying the dip are all signals that Ethereum price should see continuation. After dropping 27% over three days, Ether (ETH) price finally reached a bottom at $1,040 on Jan. 22. The sharp correction liquidated $600 billion worth of future contracts but interestingly, Ether price rebounded…
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It is a sign of our industry’s youth that we routinely fail to provide a coherent descriptive definition of a stablecoin. Sometimes, “stablecoins” and variants such as “algorithmic stablecoins” function like historical names, as they refer to projects that call themselves stablecoins, such as Basis Cash, Elastic Set Dollar, Frax and their clones. The word…
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The institutional investment manager holds 30,454 shares of Grayscale’s GBTC, according to a new SEC filing. And no, the firm is not part of the Rothschild family dynasty. Rothschild Investment Corporation, a leading Chicago-based financial institution founded in 1908, has invested heavily in Grayscale’s Bitcoin Trust, according to a Monday morning filing with the United…
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Bahrain-based crypto exchange CoinMENA acquired a major license ahead of its launch in several countries including the UAE and Saudi Arabia. CoinMENA, a soon-to-launch cryptocurrency exchange headquartered in Bahrain, has obtained a license from the Central Bank of Bahrain, or CBB. The newly acquired “Crypto Assets Services Company License” allows CoinMENA to operate fully as…
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