Crypto news

The Chairman of the Financial Stability Board (FSB) – Klaas Knot – raised concerns that the cryptocurrency sector could harm the monetary network in the future. In his view, the digital asset market is expanding at a fast pace, while some of the tokens are employed by criminals in illicit activities. “For these reasons, policy work on crypto assets is a priority for the FSB,” the executive outlined. The FSB Wants to Regulate “Unbacked” Crypto The lack of an appropriate...

Grayscale – the world’s largest Bitcoin fund – reportedly met with the Securities and Exchange Commission (SEC) in private last week. The company argued that the commission should approve its transition into a Bitcoin Spot ETF to unlock over $8 billion in value for its investors. Why Convert Grayscale? In a presentation shared with CNBC, Grayscale claimed that a Bitcoin spot ETF would be “no riskier than a Bitcoin futures ETF”. The company believes that both spot and futures...

The Financial Accounting Standards Board (FASB) has unanimously voted to review accounting rules for exchange-traded digital assets in the United States. This could have major implications for corporations seeking a regulatory pathway for better managing cryptocurrencies on their balance sheets. Celebration Among Bitcoiners Microstrategy CEO Michael Saylor claimed the result of the vote was 7-0 over Twitter on Wednesday. Though the official result is yet to be posted by the...

Blockchain intelligence startup Chainalysis has raised $170 million at a valuation of $8.6 billion, double from $4.2 billion in June last year. Given the current market crash where bitcoin fell below $30,000 on Monday, many believed that the rush of investors backing up crypto startups seen last year might cease. But Chainalysis in the latest round has seen its valuation increasing twofold, suggesting that investors are still favoring businesses in the crypto space. $170...

Bitcoin’s price has now broken well below $30,000, touching down to $28,228 just moments ago. That’s Bitcoin’s cheapest price since January 4th, 2021, retracing some of the gains made in its early bull market. On Wednesday at 20:50 UST, Bitcoin’s price slipped from $29,000 to $28,228 within less than 5 minutes. The price remains at $28,551 at the time of writing, down about 8% on the day. The rest of the crypto market is also struggling with Ethereum barely holding $2000 as a...

Crypto continues to grow like crazy. Every day, it seems like the arena gets a little bigger and a little better, but how does one know which investments are worth their time? Kiana Danial – the author of “Cryptocurrency Investing for Dummies” and the founder of Invest Diva – lays it all out for those looking to enter the crypto space for the first time. Kiana Danial Talks About How to Know Which Crypto Is Real and Ripe In a recent interview, Danial says a currency’s...

A partnership deal between Jack Henry & Associates and New York Digital Investment Group (NYDIG) will enable community financial institutions to offer bitcoin services following increased interest from customers. Millions of American Customers to Trade Bitcoin Jack Henry and Associates (JHA), a leading technology solutions provider and payment processing firm, announced the collaboration with digital asset management firm NYDIG via a press release. The partnership will...

GOP colleague Rep. Madison Cawthorn of North Carolina is allegedly being investigated for his purchase of the “Let’s Go Brandon” cryptocurrency, a token that takes its name from a derogatory chant aimed at Joe Biden. Did Madison Cawthorn Fail to Disclose His Buys? The investigation is not occurring because he invested in the currency, but rather because he allegedly didn’t disclose the investment within a set period. Members of the U.S. Congress only have so much time to...

President Nayib Bukele of El Salvador has unveiled development plans for the country’s planned Bitcoin City shortly after the nation made its latest BTC purchase. Bukele Moving Ahead With Bitcoin City Project The El Salvadoran President showed pictures of the architectural model via a Twitter thread, saying, the “City is coming along beautifully.” While details were sparse, with no mention of a completion date, the leader of the Central American country noted that the city...

Coinbase Co-founder and CEO Brian Armstrong squarely blamed the Reserve Bank of India (RBI) for employing “informal pressure” and denying the Unified Payments Interface (UPI) services that led to Coinbase halting its trading services three days after the launch on April 7. Coinbase India Launch Experience Speaking for the first time on the issue, Armstrong explained what led to the suspension of the company’s services in India and how it plans to stage a comeback. During the...