Crypto news

Two committees in the US House of Representatives held the first-ever joint hearing related to crypto on Wednesday, seeking to carve a path forward to legislation on digital assets.  The early stages of the hearing proved combative, with certain Democrats questioning whether crypto-specific legislation should be signed at all.  A Focus On Making Law The hearing, held by the House Financial Services Committee (HFSC) and the House Agriculture Committee, was titled “The Future...

Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has obtained a restraining order from a Singaporean court against Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX. According to a court document seen by CoinDesk, the restraining order prohibits Hayes from using any insulting or abusive communication that would cause Zhu alarm, harassment, or distress. Hayes Restrained From Abusing Zhu In the past few months,...

Joseph James O’Connor, a 23-year-old British citizen extradited from Spain to the United States on April 26, pleaded guilty to multiple charges, including hacking the social media platform Twitter in 2020. O’Connor, who also uses the online name PlugwalkJoe, has been charged with stealing cryptocurrencies worth $794,000 from a Manhattan-based company through a SIM Swap attack. U.S. prosecutors said O’Connor would forfeit the funds and pay his victims restitution. Besides,...

The crypto analytics platform – Santiment – indicated that the amount of bitcoin held on digital asset exchanges has recently plummeted below 6%. The last time the figures were that low was in December 2017. The decreased trust in centralized platforms intensified shortly after the fallout of FTX (one of the leaders in its field prior to its bankruptcy). Binance has also seen a rise in bitcoin outflows during the past several months, signaling that many users prefer to rely...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up At the time of writing, South African billionaire and entrepreneur Elon Musk – the man who brought companies like Tesla and SpaceX to the forefront – is currently trapped in the middle of a $258 billion lawsuit centering on his promotion of digital currencies like Dogecoin. Elon Musk Requests Dismissal of Court...

U.S. President Joe Biden is advocating for an end to tax loopholes that benefit what he described as “wealthy crypto investors.” In a Twitter post late Tuesday, Biden shared an infographic that read: “We think Congress should cut tax loopholes that help wealthy crypto investors.” According to the post, these loopholes have cost the government around $18 billion in revenue. In his tweet, the president mentioned “MAGA House Republicans” as opposers of his tax plans. Biden...

The Shapella upgrade last month enabled validators to unstake millions of ETH from the Ethereum 2.0 contract, allowing the funds to potentially be sold on the open market. Despite this, the second-largest cryptocurrency actually increased in value after the upgrade. How come? At Consensus 2023, CryptoPotato sat down with representatives from Nansen, a blockchain analytics company, to discuss how things have looked on-chain since the final phase of the Merge.  Shanghai Defies...

The Mortgage Bankers Association said there was a 10% jump in homeownership demand last week in anticipation of paused rate hikes.  Mortgage demand in the US recently climbed considerably after the Federal Reserve signaled that it could pause interest rate hikes. The increase in applications for home-buying was a direct result of reduced mortgage rates last week. Although last week’s drop in mortgage rates was not substantial, it was enough to induce current homeownership demand. As it...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Elizabeth Warren – the democrat senator from Massachusetts – has built a reputation as one of the most anti-crypto people in Congress. Reports are now emerging from organizations like crypto lobbying group Coin Center suggesting that Warren is now building a major “anti-crypto army” as part of her reelection...

For some, the Ordinals craze has wreaked havoc in the Bitcoin ecosystem. BTC’s price may have, so far, failed to capitalize on it, but that was not the case for the network miners. In fact, the development has been a blessing in disguise for them. Bitcoin Miner Revenue Shoots Up This month was marked by skyrocketing transaction fees and network congestion as Bitcoin Ordinals reached unprecedented heights. While Bitcoin’s price is cautiously recovering with modest gains, the...