Tether CEO Paolo Ardoino stated that the stablecoin company might put “significant resources” into developing a global peer-to-peer (P2P) financial markets terminal. Ardoino explained that decentralization in the payments area, where humanity is “getting rid” of the monopolistic intermediaries, could also improve the financial markets data industry. This would also allow exchanges to monetize their […]
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Financial Nonprofit Better Markets: Approving a Spot Ether ETF Would Threaten ‘the Broader Financial System’
Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […]
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Financial Nonprofit Better Markets: Approving a Spot Ether ETF Would Threaten ‘the Broader Financial System’
Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […]
Bitcoin News
Bank of Canada Governor Warns of ‘Sharp Correction’ Risks in Markets and ‘System-Wide Stress’
In his speech on the release of the Financial Stability Report, Tiff Macklem, Governor of the Bank of Canada, sought to emphasize the purported strength of Canada’s financial system while cautioning against ongoing risks that could precipitate a “sharp correction” in markets, potentially leading to widespread financial strain. “Some indicators of financial stress have risen,” […]
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SEC Chair Gary Gensler Calls Crypto ‘Outsized Piece of Scams, Frauds, and Problems in Our Markets’
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has reiterated his view that crypto is a field full of noncompliance. While noting that crypto is a small piece of the overall U.S. financial market that his agency oversees, the SEC chair emphasized that it is “an outsized piece of the scams […]
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Crypto Wealth Bolsters Real Estate Markets and Consumer Spending, Study Finds
As cryptocurrency becomes a significant part of American investment portfolios, its influence extends beyond digital transactions into tangible impacts on real estate markets and household spending, a recent study finds. Report Shows Cryptocurrency Wealth Adds ‘Meaningful Implications for the Real Economy’ The study, first reported on by Bloomberg, analyzes bank and credit card data from […]
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JPMorgan: Retail Investors Drive Selloff in Both Crypto and Equity Markets
JPMorgan has highlighted a significant increase in selling and profit-taking across equity and crypto markets, driven largely by retail investors. The global investment bank also observed institutional momentum traders and quantitative funds reducing positions, particularly in stocks, bitcoin, and gold. Insights on Market Trends by JPMorgan JPMorgan, a global investment bank, has provided insights on […]
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Acinq to Withdraw Phoenix Wallet From US Markets Amid Regulatory Concerns
On Friday, April 26, Acinq announced that its Lightning Network bitcoin wallet, Phoenix, will cease services for U.S. residents from May 3, 2024. This announcement followed closely on the heels of the Samourai Wallet indictment and what is perceived as a targeted U.S. government effort against financial privacy and non-custodial solutions. Lightning Network Platform Phoenix […]
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Runes Proliferate on Bitcoin, Sparking New Token Sales on Specific Markets
In the 12 hours following the introduction of the Runes protocol, bitcoin miners have collected substantial fees as the rush to mint runes now dominates block space. Presently, numerous runes exist on the Bitcoin blockchain, with several being offered on marketplaces such as Okx and Magic Eden. The Runes Economy Has Been Born Since their […]
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Report: Mango Markets Exploiter Convicted in Multi-Million Dollar Crypto Fraud Case
A U.S. federal jury has convicted Avraham ‘Avi’ Eisenberg on charges of commodities fraud, commodities manipulation, and wire fraud due to his involvement in the 6 million exploit of Mango Markets, a Solana-based decentralized exchange (dex) platform. Jury Convicts Avi Eisenberg in 6M Mango Markets Crypto Fraud Case In this high-profile court case, Eisenberg was […]
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