An investor with nearly $2 million worth of funds frozen in bankrupt cryptocurrency lender BlockFi has filed a class action complaint against its founders, two directors and crypto exchange Gemini. In a Feb. 28 complaint filed in the U.S. District Court for the District of New Jersey, investor Trey Greene accused the defendants of numerous…
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The United States commodities regulator is set to take a close look at the decentralized finance (DeFi) space at an upcoming meeting of its tech committee, where it has also invited crypto industry executives to present. The Commodities Futures Trading Commission (CFTC) stated on Mar. 1 that the agenda for its Mar. 22 meeting of…
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Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere. According to the report — which is based on data from the first half of 2022 — 17 Group 1 banks reported approximately 2.9 billion…
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For years, Bitcoiners have repeated the mantra “be your own bank.” But in truth, storing any type of crypto in a wallet has been a lot closer to stuffing cash under your mattress than to a complex financial institution like a bank. Admittedly, it’s an improvement in that crypto can be transferred across the globe…
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Civil charges were announced against former FTX director of engineering Nishad Singh on Feb. 28, the same day he entered a guilty plea to three counts of criminal fraud in Manhattan district court. Both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are pressing charges against Singh. Singh…
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Bitcoin (BTC) bulls laid most of their options at $24,500 and higher for the March 3 options expiry, and given the recent bullishness seen from BTC, who can blame them? On Feb. 21, Bitcoin price briefly traded above $25,200, reflecting an 18% gain in eight days. Unfortunately, regulatory pressure on the crypto sector increased and…
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Bitcoin started March on a positive note, but historically the month has recorded mediocre gains, which could be an early warning sign for crypto investors. Source link
Bitcoin (BTC) moved just 0.03% last month in U.S. dollar terms, making February 2023 likely its least volatile in history. Data from Coinglass from after the monthly close confirms that BTC/USD went practically nowhere for four weeks straight. Bitcoin monthly candle barely leaves a trace To say that Bitcoin is less volatile than it was…
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Stablecoins are entering a period of great uncertainty following the U.S. Securities and Exchange Commission labeling BUSD an “unregistered security” and ordering Paxos to stop minting new tokens. Do these moves signal a wider war by U.S. regulators on stablecoins? Could the SEC declare all stablecoins securities, or is BUSD a special case? Independent crypto…
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Opportunity cost, explained Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen. Consider the scenario when you have a limited budget and are debating between buying a new…
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