Crypto news

The decision coincides with the announcement of stricter crypto regulation by the Canadian Securities Administrators (CSA). As crypto regulation broadens in Canada, blockchain infrastructure platform Paxos has announced plans to shut down its operations in Canada. In a statement published on the company website, the firm advised its Canadian customers to begin withdrawing any funds from their accounts. “Beginning June 2nd, you will no longer be able to transact from your Paxos account,” it...

FTX’s lead attorney said that restarting the exchange would require significant capital and there was an internal debate about whether this money should come from FTX’s estate capital or through third-party capital. The legal team behind the debtors of the bankrupt crypto exchange FTX recently suggested that the exchange could consider a reopening by mid-2023 which has a positive impact on FTT price. FTX’s attorneys from Sullivan & Cromwell made the announcement during a court hearing...

The Avalanche Evergreen Subnet will expand to onboard more third-party applications, assets, and processes. After Avalanche Blockchain launched Evergreen Subnet earlier in the month, financial institutions like T.Rowe Price have joined the ‘Spruce’ test net to participate in DeFi use cases. Wisdom Tree, Cumberland, and Wellington have also joined the Avalanche Layer 1 Evergreen subnet, Spruce. In addition to participating in DeFi use cases, the institutions will test FX and interest rate...

EOS price started a fresh increase from the $1.12 support against the US Dollar. The price is now trading above $1.15 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $1.20 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move up if it clears the $1.24 and $1.25 resistance levels. EOS price is rising above $1.18 against the US Dollar, similar to Bitcoin. The price could...

Litecoin started a steady increase above $90 against the US Dollar. LTC price is now trading above $90 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $91 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair remains supported for more gains unless there is a clear move below $87.20. Litecoin price is correcting gains from $98 against the US Dollar, similar to Bitcoin. LTC price could continue...

Bitfinex became the first cryptocurrency exchange to be registered as a Digital Asset Service Provider (DASP) by the regulators of El Salvador. The Latin American country is a pioneer in the industry, embracing bitcoin as a legal tender in 2021. Under the rule of President Nayib Bukele, it purchased amounts of the primary cryptocurrency on a macroeconomic level and launched numerous BTC-related initiatives. ‘Delighted to Be the First’ In a recent blog post, Bitfinex described...

Argentina’s securities regulator – the National Commission of Value (CNV) – reportedly authorized the local exchange Matba Rofex to launch regulated Bitcoin index futures contracts.  Argentines have recently shown rising interest in the primary cryptocurrency and other digital assets. One factor behind the surging appetite could be the concerning inflation rate in the country and the political instability.  Additional BTC Options for the Locals The BTC index futures contracts...

With the long-awaited Shapella upgrade just around the corner, crypto exchange Kraken is preparing to withdraw all staked ETH on behalf of its clients as soon as possible after the update rolls out.  The event will bring Kraken’s staking as a service product to a complete close, after being forced by regulators into shuttering the program in February.  Kraken Withdraws its Stake In a Twitter response on Wednesday, Kraken’s support team confirmed that the platform’s locked ETH...

At a Hong Kong media event, the Binance CEO stressed the importance of all-round active engagement in creating effective crypto regulations. Binance CEO Changpeng “CZ” Zhao recently weighed in on the formation of crypto regulations as a guiding principle over the digital asset class. According to Zhao, regulators need a deep understanding of digital currencies to formulate proper rules for effective oversight. The Binance CEO also added that regulatory clarity can only be reached via...

Fed watchers expect the American central bank to raise the federal funds rate by 0.25 or 0.50 percent. The CME Fed Watch tool has notched up to anticipating a 0.50 interest rate hike in the Fed Funds rate, with a 72% probability of at least a 0.25 hike at the next meeting. The Yahoo Finance Live team reported Monday: The Fed has a big decision to make at its next meeting on May 2 to 3. The probability of another 0.25% hike is now at 72%. And that’s according to the CME Fed...