At the recent World Token Summit 2023, Cointelegraph spoke to Matthias Mende, the co-founder of the Dubai Blockchain Center and a speaker at the event. During his speech, Mende talked about one of the center’s projects implementing blockchain technology to create a decentralized social identity for its users. Continue Reading on Coin Telegraph More
In written remarks for a panel at the Bank for International Settlements Annual Conference on June 23, Panetta said crypto’s perception among investors as a “robust store of value” began to dissipate in late 2021 and into 2022, when the total market capitalization fell by more than $1 trillion. According to the ECB official, the “highly volatile” nature of crypto assets made them suitable for gambling, and should be treated as such by global lawmakers.Continue Reading on Coin Telegraph More
Another point of view came from Gemini co-founder Cameron Winklevoss, who said on June 21 that the “floodgates” for accumulating Bitcoin are “closing fast.” Similarly, MicroStrategy executive chairman Michael Saylor said that the opportunity to “front-run institutional demand for Bitcoin” was ending.Continue Reading on Coin Telegraph More
This news comes after Wirex’s competitor, Cryptopay, also announced that its cards may stop working in the region due to the same issue.Continue Reading on Coin Telegraph More
Volatility Shares Trust filed Form 8-A with the SEC on June 23, suggesting that the firm was preparing to launch an investment vehicle the regulator could consider a class of securities under its purview. The registration statement listed the Volatility Shares “2x Bitcoin Strategy ETF” under the ticker symbol BITX, which would offer leveraged exposure to Bitcoin (BTC) corresponding to two times the daily performance of the S&P CME Bitcoin Futures Daily Roll Index.Continue Reading on Coin Telegraph More
The past week in DeFi was filled with artificial intelligence (AI)-centered developments on Etherscan, Polygon’s latest security update and on-chain sleuth ZachXBT’s ongoing lawsuit supported by multiple crypto personalities.Continue Reading on Coin Telegraph More
(Reuters) -Bitcoin, the world’s largest cryptocurrency, hit a more than one-year high on Friday, capping a week of gains helped in part by BlackRock (NYSE:BLK)’s plans to create a bitcoin exchange-traded fund (ETF) despite heightened U.S. regulatory scrutiny on the digital asset sector.BlackRock, the world’s biggest asset manager, filed last week to launch iShares Bitcoin Trust, an ETF that would have Coinbase (NASDAQ:COIN) Custody as its custodian as well as offer institutional investors exposure to the cyptocurrency. Crypto exchange EDX Markets, backed by investment firms Charles Schwab (NYSE:SCHW), Fidelity and Citadel Securities, also announced earlier this week that it will allow trading on some cryptocurrencies.The moves have revived investor interest in cyptocurrencies, which have been in the doldrums after a series of crypto company meltdowns including the sudden collapse of exchange FTX late last year.Compounding negative sentiment has been increased regulatory scrutiny, including the U.S. Securities and Exchange Commission’s move this month to sue crypto giants Coinbase Global and Binance, alleging violation of its rules. The pair deny the allegations. Bitcoin has gained nearly 25% in value since BlackRock’s filing. It rose as high as $31,458 on Friday, the highest level since June 7, 2022, and was last up 3.29% at $30,872. “The dark clouds overshadowing crypto have lifted in recent days amid a burst of institutional interest,” said Kate Laurence, general partner of Bloccelerate VC, which invests in crypto projects.”The likes of BlackRock, Charles Schwab, Fidelity and Citadel throwing their hats into the crypto ring is hugely significant because it shows that institutions are very serious about the space – despite the recent regulatory crackdown.” Investors piled into cryptocurrencies when interest rates were low, pushing the market to a peak value of $3 trillion in 2021. But they turned cautious as rates rose, with the value of the market now standing at around $1.24 trillion, according to CoinGecko data.Ethereum, the world’s second-largest cryptocurrency, has risen more than 16% since last week. It was up 1.63% at 1,903.20 on Friday.Some market-watchers said the SEC crackdown may be good for bitcoin, which is generally considered a commodity rather than a security, and therefore beyond the SEC’s remit. “The SEC lawsuit has created opportunities for robust, regulated players, so I’m cautiously optimistic that this BlackRock event will have some sustainability,” said Doug Schwenk, CEO of Digital Asset Research. More
In a recent development, Bankman-Fried’s legal team approached the judge overseeing the case, urging the prosecution to hand over the documents obtained from Fenwick & West or to allow them to be obtained directly through a subpoena. However, U.S. District Judge Lewis Kaplan dismissed the request, calling it a “fishing expedition” that would not be justified.Continue Reading on Coin Telegraph More
