A whopping 80% of American adults believe the financial system favors those with “powerful interests,” while 20% currently own cryptocurrency — a new survey has revealed. Commissioned by crypto exchange Coinbase, the February online survey of more than 2,000 American adults found that 80% of respondents said the “global financial system unfairly favors powerful interests,”…
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Robinhood Markets has confirmed that it had received an investigative subpoena from the United States Securities Exchange Commission (SEC) over its digital asset business’ crypto listings, custody and platform operations. In a 10-K filing, the brokerage said it received the investigative subpoena in December shortly after crypto exchange FTX filed for bankruptcy in November, and after…
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The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial…
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Bitcoin (BTC) price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain at the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the market consensus. This fuelled investors’ hope for a soft landing and the possible aversion of a recession…
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Bitcoin and U.S. equities markets are attempting to recover, but selling at overhead resistance could continue to weigh on the bullish momentum. Source link
Last week was relatively calm regarding enforcement news but brought some peculiar local developments in regulation. United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency (CBDC). According to the Minnesota lawmaker, the bill could prohibit the Fed from…
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Some cryptocurrencies are inflationary because the supply of coins increases over time. Inflationary cryptocurrencies use a combination of predetermined inflation rates, supply constraints, and mechanisms for distributing tokens to maintain the supply and incentivize participation in the network. Looking at their monetary systems, cryptocurrencies have various coin-creation and supply mechanisms. Inflationary cryptocurrencies have a steadily…
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Bitcoin (BTC) headed toward $24,000 at the Feb. 27 Wall Street open as a strong weekly close translated into further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin gains $1,000 versus weekend lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding in line with United States equities futures. The pair had seen…
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Binance branded stablecoin, Binance USD (BUSD), is a dollar-backed stablecoin issued by blockchain infrastructure platform Paxos Trust Company, and is the third largest stablecoin after Tether’s (USDT) and Circle’s USD Coin (USDC). Paxos has claimed in the past that BUSD is fully backed by reserves held in either fiat cash or United States Treasury bills.…
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Hardware wallet manufacturer Trezor is accelerating the production of new Trezor wallets by producing its own wallet silicon chips. Trezor officially announced on Feb. 27 that the firm will start facilitating the production of its own key component, the chip wrapper, in its flagship product, Trezor Model T. The move aims to significantly optimize Trezor…
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