The world’s second most widely held reserve currency seems to be underrepresented in the stablecoin space.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Dollar’s sharp recovery puts Bitcoin’s $25K breakout prospects at risk
Persistent inflation and a strong labor market create conditions for more Fed rate hikes in 2023, which may push Bitcoin down against the U.S. dollar.
Dollar’s sharp recovery puts Bitcoin’s $25K breakout prospects at risk
Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering United States dollar.
US dollar strength reemerges
Notably, the U.S. Dollar Index (DXY), which tracks the greenback’s performance against a basket of top foreign currencies, has risen 4% from its Feb. 3 low of 100.82, amid anticipations that the U.S. Federal Reserve will continue raising benchmark rates to cool inflation.
Inflation persists
An air of caution remains as fresh U.S. data shows a recession is not yet imminent.
That includes the latest jobless claims, which fell 2,000 to a seasonally adjusted 190,000 in the week ending Feb. 25, and stronger consumer spending in January.
Meanwhile, 90% of the U.S. manufacturers surveyed by Bloomberg complained about rising input prices despite the easing supply-chain problems.
Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank
A total of five crypto companies end their partnership with Silvergate bank on March 2 after a series of lawsuits and investigations against the fintech bank.
Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank
A total of five crypto companies end their partnership with Silvergate bank on March 2 after a series of lawsuits and investigations against the fintech bank.
Ripple survey: 97% of payment firms believe in the power of crypto
The lack of regulatory clarity is the biggest hurdle to the adoption of crypto-enabled payments, according to a new survey co-hosted by Ripple.
UAE free zone to explore Bitcoin payments for services, lawyer says
The free zone for virtual asset firms in the Ras Al Khaimah emirate aims to foster regulated and non-regulated activities.
U.S. lawmakers argue SEC accounting policy places crypto customers at risk
While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.
Binance USD market cap falls below $10B amid rising regulatory concerns
As it stands today, BUSD's market cap has fallen by nearly $14 billion since its all-time high of $23.49 billion on Nov. 15, 2022.
Binance USD market cap falls below $10B amid rising regulatory concerns
Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange.
BUSD’s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX.
As of today, the stablecoin’s marketcap has fallen to $9.66 billion — levels not seen since Jun. 29, 2021.
Market cap of Binance USD (BUSD) over the last 12 months. Source: CoinGecko.Most recently, BUSD has been the subject of a potential lawsuit against Paxos by the United States Securities Exchange Commission (SEC) on Feb. 12 over a possible violation of investor protection laws. Since then SEC, $6.65 billion has been shaved off BUSD’s market cap.
Paxos was also ordered by the New York District of Financial Services (NYDFS) to stop minting and issuing BUSD on Feb. 12 too, which is likely to have contributed to the stablecoin’s market cap fall.
Celsius Custody customers finally begin withdrawals 263 days after freeze
Celsius users with funds held in its custody program have finally begun to withdraw funds, but users report delays due to a backlog of requests.
Ethereum core developers push Shanghai upgrade to early April
The final dress rehearsal for Shanghai has been slated for a Mar. 14 launch, while the real thing will happen a few weeks later.
Bitcoin price slides 5% in 60 minutes, hitting two-week low amid Silvergate
The price of BTC has fallen a steep 5% in a matter of 30 minutes between 1:30-2:00am UTC time on March 3. The cause behind the fall is not clear.
MicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57%
MicroStrategy confirmed that none of its 130,000 BTC is custodied by Silvergate. However, the firm does have a loan to pay off to the bank by Q1 2025.
$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express
OKX reimburses $3M to users after alleged market manipulation incident, Binance unveils AI generated NFTs and FTX Japan users made whole.
$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
OKX airdrop after token trading fiasco
On Mar. 1, cryptocurrency exchange OKX announced that it would airdrop 3,014,381 Tether (USDT) to users who suffered losses as a result of the Celestial (CELT) token trading incident. On Feb. 26, Celestial revealed the development of a novel blockchain game, followed by extensive social media campaigns promoting the project’s alleged backing by OKX. Shortly afterward, the price of CELT pumped nearly 100% in two days before plummeting over 60%, after OKX clarified it had no affiliation with the project other than a $100,000 investment from OKX Ventures in Nov. 2021.
“On Feb. 27, many influencers on social media promoted the [CELT] project by claiming that it was the “Son of OKX,” such actions were not authorized by the OKX exchange.”
After an investigation, OKX concluded that there was evidence of “malicious market manipulation” associated with the incident. The exchange explained shortly afterward that it froze 714,381 USDT held in five accounts suspected of market manipulation, and clawed back 1.3 million USDT from Celestial developers.
Combined with 1 million USDT of its own money, OKX will airdrop a total of 3 million USDT to users who purchased CELT between Feb. 25, 12:00 pm Hong Kong time (HKT), and Feb. 28, 12:00 pm HKT and suffered losses. The airdrop will be delivered to affected users within the next 48 hours.
$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
OKX airdrop after token trading fiasco
On Mar. 1, cryptocurrency exchange OKX announced that it would airdrop 3,014,381 Tether (USDT) to users who suffered losses as a result of the Celestial (CELT) token trading incident. On Feb. 26, Celestial revealed the development of a novel blockchain game, followed by extensive social media campaigns promoting the project’s alleged backing by OKX. Shortly afterward, the price of CELT pumped nearly 100% in two days before plummeting over 60%, after OKX clarified it had no affiliation with the project other than a $100,000 investment from OKX Ventures in Nov. 2021.
“On Feb. 27, many influencers on social media promoted the [CELT] project by claiming that it was the “Son of OKX,” such actions were not authorized by the OKX exchange.”
After an investigation, OKX concluded that there was evidence of “malicious market manipulation” associated with the incident. The exchange explained shortly afterward that it froze 714,381 USDT held in five accounts suspected of market manipulation, and clawed back 1.3 million USDT from Celestial developers.
Combined with 1 million USDT of its own money, OKX will airdrop a total of 3 million USDT to users who purchased CELT between Feb. 25, 12:00 pm Hong Kong time (HKT), and Feb. 28, 12:00 pm HKT and suffered losses. The airdrop will be delivered to affected users within the next 48 hours.
$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express
OKX reimburses $3M to users after alleged market manipulation incident, Binance unveils AI generated NFTs and FTX Japan users made whole.
$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express
OKX reimburses $3M to users after alleged market manipulation incident, Binance unveils AI generated NFTs and FTX Japan users made whole.
$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express
OKX reimburses $3M to users after alleged market manipulation incident, Binance unveils AI generated NFTs and FTX Japan users made whole.