Tag Archives: AA News

Twitter co-founder Jack Dorsey pressed Coinbase CEO Brian Armstrong on Wednesday over his alleged refusal to acknowledge the power of Bitcoin’s lightning network – a layer-2 scaling solution designed to make BTC easier to spend. His question sparked an online debate about the benefits and limitations of lightning in the payments realm, compared to other cryptocurrencies such as stablecoins. Why Not Bitcoin? In a tweet on Wednesday, Armstrong claimed that crypto’s next step...

The American venture capital investor Tim Draper predicted that bitcoin’s price will surge in the future due to the cryptocurrency’s advantages over fiat currency. The billionaire claimed in 2020 that the COVID-19 pandemic will have a disastrous consequence on the global economy, but it will be a flourishing factor for BTC. The primary digital asset climbed to an all-time high of almost $70,000 the following year, whereas a financial crisis and record inflation rates...

Wyoming-based Custodia Bank’s application to become a member of the Federal Reserve System was rejected earlier this year by the Kansas City Fed. But the platform has no intention of backing down. The legal dispute took a new turn after Custodia slapped three lawsuits against the regulator in three separate circuits. According to attorney John Deaton, Custodia’s fight against the Feds is “arguably just as important (if not more)” as the Ripple-XRP case. Custodia vs. Feds...

The rapidly changing digital asset landscape has resulted in a flexing of regulatory muscles between different watchdogs in defining terms and drawing lines of authority. This is especially true in the case of the United States where the SEC and CFTC are engaged in a turf war over regulatory oversight of the space. But this conflict could come to an end soon with the help of FIT21. Weeks after the historic verdict on the Ripple vs. SEC case, the US is waiting for the approval...

U.S. Congress undertook its first-ever markup for digital asset legislation on Wednesday, attempting to establish clear jurisdiction for the nation’s chief market regulators. The bill was not well received by Democrats, however, many of whom find it overly friendly to the crypto industry, and similar to what disgraced FTX boss Sam Bankman-Fried had advocated for. Democrats Blast Crypto Bill During the hearing, House Financial Services Committee (HFSC) Chair Patrick McHenry...

On July 25, Avalanche stated that it was on a mission to “pioneer the future of asset tokenization.” Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, it stated. Today, the Avalanche Foundation introduces Avalanche Vista, a $50M initiative to pioneer tokenization on #Avalanche Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, and Avalanche is uniquely equipped to power these...

Blockchain security company Quantstamp has agreed to pay ~$3.5 million in fines to settle charges against it from the U.S. Securities and Exchange Commission (SEC) on Friday – without confirming or denying allegations. The settlement marks another successful crackdown from the agency against a crypto company for violating securities laws, which industry leaders say lack clarity regarding how they apply to digital assets. Another SEC Legal Attack The SEC’s charges – announced...

The market capitalization of the largest stablecoin – USDT – recently tapped an all-time high of $83.76 billion (according to the crypto analysis firm IntoTheBlock). Other data aggregators, though, showed that the asset had increased well beyond that level earlier this month. Stablecoins have performed quite well lately, and USDT continues to dominate the entire field. The combined market capitalization of the six biggest such tokens spiked last month to almost $125 billion....

The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank’s rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last 12 policy meetings dating back to March 2022. The central bank’s mission over the past year has been to quell once rampant inflation, which peaked at 9.1% in June...

Bitcoin whales typically capture the stagnant market conditions to accumulate more coins. This trend continued even during the underwhelming price performance of Bitcoin in recent months, as new analysis suggests a dramatic uptick in whale activity during the period. Glassnode’s latest edition of “The Week On-Chain,” observed that the aggregate Whale balance has declined by approximately 255k BTC since May 30. This was found upon isolating coins flowing between Whale entities...