Bankrupt crypto lender Voyager Digital’s recent transfer of 1,500 Ether (ETH) and 250 billion Shiba Inu (SHIB) tokens, worth around $2.77 million and $2.7 million respectively, to Coinbase has ignited suspicion and speculation in the crypto community. The transfers, taking place within an hour on Friday last week, have triggered discussions in the crypto community…
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Six professors of law have issued an amicus brief in favor of Coinbase, blasting the U.S. Securities and Exchange Commission’s (SEC) stance on the definition of investment contracts. Through a historical examination of the development of securities laws, the brief concludes that an investment contract “requires contractual undertakings to deliver future value.” Law Professors Explain…
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The legal practitioners asked the court to adhere to the established definition of “investment contract” when interpreting its scope. A group of six legal scholars specializing in securities law and related fields submitted an amicus brief in favor of crypto exchange Coinbase in its ongoing legal battle against the United States Securities and Exchange Commission (SEC).…
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Fireblocks, a digital assets security company, has disclosed vulnerabilities affecting several cryptocurrency wallets, collectively named “Bitforge.” Through these vulnerabilities, criminals could steal millions in cryptocurrency without having direct contact with the owners of the wallet or its providers. While some providers have already applied patches, others are still vulnerable. Bitforge Vulnerabilities Disclosed Fireblocks, a cryptocurrency…
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Base, a new Ethereum layer 2 blockchain that has been developed by crypto exchange Coinbase, saw inflows worth just over $10 million on its first day after launch. According to data from Dune Analytics, the $10 million were transferred to the network by over the course of 24 hours on Thursday, one day after its…
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BTC futures open interest is on the rise, but Bitcoin trading volume suggests that traders have shifted their attention to other markets. Bitcoin traders are currently not pleased with the recent price trends, especially due to the inability of the price to surpass the $30,500 mark over the last four weeks. This frustration is compounded…
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The U.S. Securities and Exchange Commission (SEC) has opted to postpone its decision on Ark Invest’s proposal for a Bitcoin ETF, continuing a longstanding challenge for cryptocurrency assets seeking inclusion on mainstream U.S. financial platforms. The SEC announced on Friday its move to solicit public opinion regarding a particular amendment in the Ark 21Shares Bitcoin…
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This week’s Crypto Biz explores PayPal’s stablecoin, Coinbase’s new layer 2 network, Bitstamp’s fundraising and the growing popularity of crypto bots on Telegram. In a move that can reshape the digital payments landscape, financial technology giant PayPal has unveiled its United States dollar-pegged stablecoin PayPal USD (PYUSD). In line with expectations, the launch has ignited…
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Base, the Ethereum layer two (L2) scaling solution supported by Coinbase, has experienced over $175 million funneled into its decentralized finance (defi) protocol since its creation. The majority of value locked comprises 75,244 ether and nearly $26 million worth of the USDC stablecoin. Coinbase’s Base Grows to $175 Million TVL As one of the pioneer…
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The world of cryptocurrency exchanges, often clouded with volatility and competition, has recently been witnessing a distinct shift in dynamics, particularly as a Kraken is taking the lead in the US altcoin trading space. The latest data reveals Kraken, the California-based crypto exchange, is now dominating its rivals, specifically Coinbase, in the altcoin market. Dominating…
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