Two Bitcoin miners have told Cointelegraph that if the bill banning Proof-of-Work mining for two years in New York becomes law, it would end up triggering an exodus of mining companies from the state and do little to address the intended goals of the moratorium. GEM Mining CEO John Warren told Cointelegraph on June 8…
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Long-term Bitcoin holders are sitting on their largest losses since the March 2020 capitulation and the 2018-2019 bear market but may have to keep waiting for relief. Calculated by measuring the value of coins deposited to exchanges, aggregated realized losses from long-term holders (LTH) of Bitcoin (BTC) exceeded 0.006% of the market capitalization by May…
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Former Securities and Exchange Commission lawyer Alma Angotti says this week’s news about an OpenSea employee being charged with insider trading could open the doors to non-fungible tokens being labeled as securities. On Wednesday, in a first for the industry, prosecutors in Manhattan charged former OpenSea product manager Nathaniel Chastain with insider trading. The U.S.…
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The Federal Reserve is starting the process of paring back its $9 trillion balance sheet that ballooned in recent years in a move called Quantitative Tightening (QT). Analysts from a crypto exchange and financial investment firm have conflicting opinions about whether QT, starting on June 1, will put an end to a decade of unprecedented growth…
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Renowned billionaire investor Tim Draper insists that a time will come when women begin driving up the price of Bitcoin as more retailers start offering it as a more cost-effective payment option at shops. Draper, a Bitcoin (BTC) investor himself, told host Scott Melker on the Wolf of All Streets YouTube show last week that women…
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The Commonwealth Bank of Australia (CBA) has put its plans for a second pilot program of crypto trading services on hold indefinitely and cut off access to those in the first round of testing. CBA sent Cointelegraph a transcript of a Tuesday bank briefing where CEO Matt Comyn said that he was still waiting on…
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The US Department of Commerce is calling for submissions on how it can establish a framework that will bolster American economic competitiveness in digital assets including crypto and stablecoins. The Department of Commerce (DoC) intends on publishing a series of 17 questions in a request for comment through the International Trade Administration. The request will…
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Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant “Grim Reapers of Yeoui-do” to investigate Terra’s fall. The special investigative and prosecutorial team consists of members from various financial regulators, and is designed to prosecute securities fraud and unfair trading schemes. Potentially…
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A report commissioned by South Korea’s federal government recommends the domestic crypto industry adopt a licensing system for exchanges and token issuers as a way of protecting investors. The report issued by the Financial Services Commission (FSC) to the National Assembly, the country’s legislature, also calls for new regulations to mitigate insider trading, pump and…
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Analysts in both crypto and traditional markets have noted some startling similarities between the recent downturn and the one caused by a pandemic panic in March, 2020. The real question is whether it’s the start of a larger downturn or if there will be a significant bounce-back as in 2020 that led to an extended…
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