Category: Cryptocurrency

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Coinbase Reveals ‘Project Diamond’ Initiative, Targets Institutions Issuing Native Digital Assets

December 15, 2023

Coinbase, the largest U.S.-based crypto exchange, has revealed Project Diamond, an initiative that seeks to provide the tools for institutions to issue native digital assets. The project, which integrates several technologies, including Coinbase’s layer 2 product Base, the USDC stablecoin, Coinbase Prime custody services, and its Web3 wallet, has received approval from the Financial Services…
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Adam Back Says ‘Suck That Truthoors’ as Cantor Fitzgerald CEO Reveals Company Holds Tether’s Treasuries

December 15, 2023

Howard Lutnick, CEO of Cantor Fitzgerald, a Wall Street private financial services company, has recently confirmed that they lent their services to Tether, the issuer of the biggest stablecoin in the cryptocurrency market. On CNBC’s Money Movers, Lutnick stated that he was a fan of Tether and that they held their treasuries. Cantor Fitzgerald…
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Bitwise Unveils 10 Crypto Predictions for 2024: Bitcoin to Surpass $80,000, Spot Bitcoin ETFs Could Capture $72 Billion

December 15, 2023

Crypto asset manager Bitwise has unveiled 10 crypto predictions for 2024 that include bitcoin trading over $80,000, setting a new all-time high. The firm also estimates that spot bitcoin exchange-traded funds (ETFs) could capture $72 billion in assets under management. In addition, the asset manager expects Ethereum revenue to more than double to $5 billion…
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Coinbase International Exchange Launching Spot Crypto Trading

December 15, 2023

Coinbase International is launching spot crypto trading for non-U.S. customers. “The launch and expansion of spot trading on Coinbase International Exchange will occur over several phases,” Coinbase detailed. “Our primary focus at the outset will be to build liquidity and create a robust foundation. In the coming months, we plan to expand the product to…
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SEC Chair Gensler: We Do Things According to Our Authorities and How Courts Interpret Them

December 15, 2023

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has affirmed that the securities regulator acts according to its authorities and how the courts interpret them. This includes how the agency plans to deal with spot bitcoin exchange-traded fund (ETF) applications, he noted. Gensler also confirmed that SEC staff has been meeting with various spot…
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Ledger Connect Kit Breach: Hacker Siphons $484K, Company Rolls Out Version 1.1.8

December 15, 2023

The unknown attacker that compromised Ledger’s Connectkit Library has reportedly siphoned $484,000 from wallets, according to the onchain intelligence firm Lookonchain. Ledger disclosed a former employee fell victim to a phishing attack and the attacker gained access to the Ledger Connectkit Library and uploaded a malicious bug. Ledger Responds to $484K Hack The latest and…
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Ledger Library Exploit Alert: Users Warned Against Interacting With Dapp Front Ends Amid Wallet Drainer Risk

December 14, 2023

According to several reports, there’s been an alleged Ledger Connectkit Library exploit and people are being warned not to interact with decentralized application (dapp) front ends. Reportedly, the library that maintained several dapps now contains a wallet drainer. *Editor’s Note: The end of this article was updated at 9:02 a.m. (EST) on Dec. 14, 2023,…
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Report: Montenegro High Court Extends Do Kwon’s Detention by 2 Months

December 14, 2023

Do Kwon, the ex-CEO of Terraform Labs, is set to spend two months in Montenegro custody after the country’s High Court moved his release date to Feb. 15, 2024. While Do Kwon reportedly prefers being sent to South Korea, Montenegro’s justice minister is said to be leaning towards sending him to the United States. Do…
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Bitcoin Transaction Fees Spike Amid Rising Backlog and Relentless Ordinal Inscription Trend

December 14, 2023

Bitcoin transaction fees have surged again. On Dec. 6, 2023, bitinfocharts.com reported that the average cost of a bitcoin transaction soared to $27.55. Presently, the average transaction fee hovers around $13.93, alongside a growing backlog of unconfirmed transactions, currently at 249,000 at the time of this report. Rising Backlog Drives Sharp Increase in Bitcoin Transaction…
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Crypto Exchange Bitget Reveals Mandatory KYC Policy With Incentives for Early Compliance

December 14, 2023

On Thursday, the crypto exchange Bitget, headquartered in Seychelles, announced its decision to implement comprehensive Know Your Customer (KYC) policies across its platform. These new KYC requirements are set to take effect on December 15, 2023. Bitget Rolls Out Mandatory KYC Procedures Bitget is updating its compliance with relevant financial regulations by introducing new KYC…
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