This week has seen some major breakthroughs in disguise, reminding us of how regulation doesn’t all happen at once. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note Policy changes slowly. Crypto wants to move fast. Sometimes fairly, sometimes not, the crypto industry…
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Launched by the Centre Consortium in October 2018, USD Coin reached a $1 billion market cap in 21 months. USD Coin (USDC), a stablecoin project founded by Coinbase and Circle, has hit a major milestone in market capitalization. On July 3, 2020, USDC market cap broke the $1 billion threshold for the first time since…
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Cardano’s ADA may be listed on Coinbase by the end of 2020, this comes on the heels of the announcement that ADA holders will be able to stake their assets locked in the exchange’s vault. Cardano’s native cryptocurrency, ADA (ADA), may be listed on Coinbase by the end of 2020. This news comes following an…
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A court has likened Coinbase to a “traditional bank” in rejecting an appeal from a convicted child porn purchaser who appealed using the Fourth Amendment. A three-judge panel has ruled that FBI agents who subpoenaed Coinbase records to show a man had used Bitcoin to access child pornography did not violate his Fourth Amendment rights.…
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Some analysts believe that Compound’s Governance Token’s dramatic rally and crash may have been engineered by derivatives traders. A number of analysts have suggested the meteoric price performance of the Compound Governance Token (COMP) may have been orchestrated using derivatives. After initially changing hands for approximately $80 each upon its June 18 listing on Poloniex,…
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Surprise Binance listings have led to a sudden 25% spike in the price of Compound’s Governance Token. The price of the Compound Governance Token (COMP) has jumped by one-quarter on news of a surprise listing on leading cryptocurrency exchange Binance. COMP tokens began trading approximately one week ago, quickly making triple-figure gains and attracting millions…
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Coin Metrics has found that the impact of Coinbase Pro listing announcements is overstated, producing price performances ranging from -1% to +14% over 20 days. The fabled ‘Coinbase Effect’ has a much more limited impact on the price of newly listed coins than is popularly believed, according to Coin Metrics. The crypto data analysis firm…
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Compound’s controversial COMP reward scheme triggered a gold rush of yield arbitrage, sending its assets under management and price to new heights. A user reward scheme to distribute the new Compound governance token (COMP) has resulted in a dramatic rise of the value locked in the decentralized finance protocol as traders sought to “farm” the…
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11.4 million Bitcoin is held by long term investors, diminishing the tradeable supply to only 20% of the total Bitcoin supply. According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians. Breakdown of Bitcoin supply. Source: Chainalysis. Digital gold The company concluded that the…
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Kraken has launched support for trading and funding in AUD six months after acquiring veteran Australian crypto exchange Bit Trade. Major cryptocurrency exchange Kraken has announced support for Aussie dollar (AUD) trading pairs and account funding. Australian dollars will be tradeable against Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Tether…
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