Mazars Group, known for its proof-of-reserve audit services for crypto companies, reportedly removed PoR audits from its site.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
Bitcoin is a better platform for Web3, says Lightning Competition organizer
A tournament to find and support new Bitcoin companies could be a way of attracting developers from Web3 ecosystems to crossover to Bitcoin.
Amber Group raises $300M to recover from FTX contagion
The new funding from Fenbushi aims to help Amber address some of the “significant drawdowns” as an aftermath of the FTX default.
Silvergate faces class-action lawsuit over FTX and Alameda dealings
The suit is looking to hold Silvergate accountable for its alleged roles in transferring FTX user deposits to Alameda bank accounts.
Charges laid over alleged ‘crypto mining’ Ponzis that netted $8.4M
Various creators and promotors of two allegedly fraudulent crypto companies are facing a litany of charges that could land them 20 years in jail.
Japan set to ease 30% crypto tax on paper profits for token issuers
As it stands, Japanese crypto issuers are required to pay a set 30% corporate tax rate on their holdings, even if they haven’t realized a profit through a sale.
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
New House Financial Services Committee chair wants to delay crypto tax changes
U.S. Republican Representative Patrick McHenry called for clarification on a “poorly” written digital asset tax provision in a letter to the Treasury.
SBF reportedly files new bail application in the Bahamas Supreme Court
Bahamas media reports that Sam Bankman-Fried lodged a new bid for bail just two days after a judge denied his previous application and called the FTX founder a flight risk.
Finder.com sued by Australian regulator over its crypto yield product
ASIC claimed a crypto yield-bearing product from Finder’s registered exchange was unlicensed, the firm disagreed but refused to say if it would fight the suit.
Stock price for troubled Bitcoin miner Core Scientific surges 200%
After a flurry of bad news throughout 2022, the miner has been offered a lifeline which could enable it to see out the current Crypto Winter.
Stellar partners with UNHCR to give Ukrainian refugees cash via USDC
One new project attempts to help bankless Ukrainian refugees, while another hopes to streamline international Red Cross projects.
Crypto.com continues its worldwide registration push with Brazilian EMI license
The cryptocurrency exchange has offered a crypto/fiat Visa card in Brazil since last year and is expanding rapidly on international markets.
Researchers use zero-knowledge to address privacy, AML concerns in stablecoins
Organizations led by German fintech etonec designed a system that takes advantage of zk-SNARK to provide untraceable transactions within regulatory limits.
Dutch central bank says KuCoin is not licensed and 'illegally offering services'
"This may increase the risk of customers becoming involved in money laundering or terrorist financing," said De Nederlandsche Bank.
Aztec Network secures $100 million in Series B funding led by a16z
With the funds, Aztec Network plans to hire more engineers and build a new encrypted blockchain.
'Big Time' and other Web3 games take home the gold at the inaugural GAM3 awards
The 16 prize winners will share over $1M worth of prizes sponsored by companies such as Immutable X, Blockchain Game Alliance, Machinations, and many more.
Jewel Bank, Polygon to launch Bermuda's first USD-backed stablecoin
Institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin with a 1:1 ratio with the United States dollar, Jewel Bank's founder and chairman Chance Barnett told Cointelegraph.
Called Jewel USD (JUSD), the first stablecoin to be released in the territory is powered by the Polygon blockchain, enabling transactions between wallets available to institutional clients. In the future, the bank plans to use the Polygon ecosystem for commercial and retail stablecoin-based payment solutions, including transactions between institutions, businesses, and payments between individuals.
"The need for a USD real time settlement network outside of the US is significant for both fintechs and digital asset firms, so we’re filling a large gap in the market. The US has solutions like Signature Signet for real time settlement, and now Jewel Bank is providing a Bermuda-based non-US solution for the industry, and the response by clients in signing up prior to launch has been significant.", noted Barnett.
On the Polygon blockchain, 25 stablecoins are currently traded, including a synthetic Euro token, a Yen-pegged Japanese stablecoin, and a South African stablecoin pegged 1:1 with the South African Rand (ZAR).
Related: 13% of Americans have now held crypto: JPMorgan research
Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data
As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend.
The market enters a state of limbo
The FTX implosion impacted over 5 million users globally and adversely affected numerous crypto companies that were exposed to it. The industry is currently in a recovery mode and Cumberland, a U.S.-based crypto market broker, recently echoed this narrative in a tweet. The firm noted that "dozens of crypto companies are either severely curtailed or out of business, and the industry's future is as cloudy as ever."
Data suggests that building a sustainable bullish move will be challenging because the market is pushed back to a low liquidity and volatility regime.
Crypto analytics firm, Glassnode, reported “depressing” futures volumes for Bitcoin and Ethereum, tracing back to pre-2021 levels when Bitcoin’s price surpassed $20,000 for the first time.
Bitcoin (orange) and Ethereum (blue) futures trading volume. Source: GlassnodeThe open interest volume of Bitcoin and Ethereum futures has dropped significantly toward mid-2022 levels, which was after the collapse of Luna-UST. The BTC and ETH leverage ratio indicator, which measures the ratio between open interest volume, is currently down to 2.5% and 3.1%.
