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China’s top regulators are not done with crypto. Chinese authorities ordered a fresh crackdown on crypto mining and outlawed virtually all crypto trading activities on Friday. The People’s Bank of China posted a list of forbidden activities that included some previously in the gray zone of regulation, while the National Development and Reform Commission set out a plan to phase out mining...
Bitcoin erased Thursday’s 3% gain as PBOC stepped up its crackdown on crypto China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run. The People’s Bank of China (PBOC) said bitcoin, ether, and stablecoin tether do not qualify as legal tender and cannot be used in the currency market. The central bank declared all virtual currency-related activities illegal, including derivative...
Old news suddenly gets picked up on social media, sparking an instant crypto price crash. 3 hours ago Bitcoin (BTC) suddenly lost $2,000 in an hour on Sept. 24 as what appeared to be old news over a Chinese regulatory ban hit social media. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin vs. China: Don’t believe the “FUD” Data...
Key contributor Dean Pappas said he didn’t mean for his project’s public token sale to crash an entire ecosystem. Now VCs are following suit. Grape Network, the project whose token sale broke Solana last week, has raised $1.8 million in total from venture capital (VC) firms and that now-infamous $GRAPE offering. The community toolkit developer closed a $1.2 million round led...
While many analysts believe Bitcoin is destined for six-figures if support at $40,000 can hold up, others are predicting an imminent bear cycle. While many analysts believe Bitcoin is destined for six-figures if support at $40,000 can hold up, others are predicting an imminent bear cycle. The price of Bitcoin has slumped below $40,000 for the first time in six...
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Designating them as “systemically risky” and thus eligible for oversight is one option available, the article said. Saying the rush to bring stablecoins under regulatory control might be “the most important conversation in Washington financial circles this year,” the New York Times published an explainer article on the type of cryptocurrency and laid out what the author (and perhaps her sources) sees...
The major funding will be used to inject liquidity into Avalanche-based DeFi platforms. Fresh on the heels of a $180 million incentive program, the Avalanche Foundation announced on Thursday a $230 million raise to jumpstart liquidity in the network’s burgeoning decentralized finance (DeFi) ecosystem. The Avalanche Foundation said in a statement it will use the funds “to support and accelerate the rapid...
Fidelity Investments privately prodded the U.S. Securities and Exchange Commission (SEC) last week to approve its bitcoin exchange-traded fund (ETF), according to recent filings. The multinational, financial services giant urged the regulator to approve its fund by citing increased investor interest in crypto. Fidelity also pointed to the rising number of investors holding bitcoin and similar funds worldwide. Bloomberg first reported the news...
The Cathie Wood-founded firm disclosed the move through a revised prospectus to the SEC. Ark Investment Management revised the prospectus for its ARK Next Generation Internet ETF (ARKW) to open the possibility of investing in crypto exchange-traded funds (ETFs) in Canada, according to a filing with the U.S. Securities and Exchange Commission (SEC) Friday. “The fund may have exposure to cryptocurrency, such...
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