Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes two days after Binance CEO Chanpeng ‘CZ’ Zhao said in a Feb. 14…
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Our weekly roundup of news from East Asia curates the industry’s most important developments. China blockchain SIM card Conflux Network says it is working with the second-largest telecommunications provider in China to develop a blockchain SIM card that will serve as a secure place to store digital private keys and nonfungible tokens. Conflux announced its…
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Crypto scam revenue was slashed by almost half in 2022 due mainly to falling crypto asset prices, but two scam types managed to stay immune. Crypto scam revenue in 2022, which includes investment scams, NFT scams and romance scams, among others, amounted to $5.9 billion in the year — down 46% from 2021. The data…
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Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors’ risk assessment for cryptocurrencies. A stronger than expected U.S. inflation report on Feb. 14 presented 5.6% growth year-over-year,…
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The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and its founder Do Kwon for allegedly “orchestrating a multi-billion dollar crypto asset securities fraud.” In a Feb. 16 statement, the SEC said Kwon and Terraform offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions.”…
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Judge Lewis Kaplan reportedly targeted Sam Bankman-Fried’s internet usage in a hearing aimed at reviewing the former FTX chief executive officer use of a virtual private network, or VPN. According to a Feb. 16 tweet from NPR correspondent David Gura, Judge Kaplan may have suggested that Bankman-Fried be denied access to any electronic device and…
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GBBC Digital Finance announced on Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities. IOSCO’s members include 35 national securities regulators and over 200 affiliated organizations. In addition, the IOSCO has an Affiliate…
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Play to Earn retro games with Bitcoin payouts may soon be making their way to a bar, conference, or meetup near you, according to a Feb. 12 Twitter post by Zebedee founder Christian Moss. The software is tentatively called “Bit-tendo.” Bitcoin Pay to Play & Play to Earn in Super Mario 3 on the original NES!…
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While the U.S. Federal Reserve (FED) continues to monitor the overheated economy, the most likely scenario is further interest rate hikes to curb inflation. The unintended consequence is the heightened government debt cost, creating a bullish environment for scarce assets such as commodities, stock market and cryptocurrencies. Bitcoin’s price gain practically extinguished bears expectation for…
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Debtors for crypto lender Celsius Network have the authority to sell coupons for mining firm Bitmain coupons worth roughly $7.4 million following a ruling from a bankruptcy judge. In a Feb. 16 court filing, United States Bankruptcy Judge Martin Glenn said it was in the “best interests of the Debtors’ estates, their creditors, and other…
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