Crypto EcoBlog
The officials claim FTX-affiliated Alameda Research had largely repaid the $8 billion borrowed from Genesis Trading, a few weeks before the former filed for Chapter 11 bankruptcy protection. The bankrupt FTX and Alameda Research officials are stopping at nothing to recover lost funds by the former administration led by Sam Bankman-Fried (SBF). The crypto exchange under John J. Ray III, Chief Executive Officer and Chief Restructuring Officer, has sued several entities including soliciting...
Read More »Tenet Blockchain Opens Testnet as It Seeks to Boost LSD Functionalities
Just like most of the most advanced blockchain protocols in the industry, the Tenet Blockchain grants users the flexibility they need to thrive on the L1 outfit. Tenet, a brand-new layer-1 blockchain protocol has announced the launch of its testnet, creating a conduit to build on the potential of Liquid Staking Derivatives (LSD) protocols. As contained in a press release shared with Coinspeaker, the Tenet protocol is emerging from its stealth mode, making it possible for developers to...
Read More »PEPE Coin Price May Spiral Further Down, Here’s Why
Despite regaining much of its losses, there are reasons to believe that the coast is not yet clear for PEPE. The new meme token PEPE coin recently enjoyed a spell of fortune after its price surged by more than 2000% shortly after launching a few weeks ago. However, it appears that it has now lost momentum and risks losing large portions of those earlier gains. On Wednesday, PEPE entered a sharp correction that saw it lose over 35% of its record high value of $0.00000138, which it attained...
Read More »Bitcoin (BTC) Price Jumps Past $29,000 Soon after Fed Rate Hike
Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007. In hours after the Fed announced the rate hike, Bitcoin (BTC) made a quick surge of more than 2% taking the price above $29,000. This Bitcoin price surge amid the recovery in the broader...
Read More »Coinbase to Stop Issuing New Bitcoin-Backed Loans via Its Borrow Service
The reason behind the exchange’s decision is not clear. According to those familiar with the matter, closing the service is not linked to the scrutiny from SEC which has alleged that Coinbase was offering and trading unregistered securities, thereby violating federal securities laws. Crypto exchange Coinbase Inc (NASDAQ: COIN) has announced its decision to stop issuing loans through its Coinbase Borrow service where Bitcoin (BTC) has been serving as collateral. Starting from May 10,...
Read More »Biden Administration Seeks to Impose 30% Tax on Crypto Mining
The White House Council of Economic Activities (CEA) is looking to penalize the crypto mining sector stating that the high energy consumption by crypto miners have spillover effects on the environment and quality of life. In a major move, the Biden administration is looking to impose a major tax on the crypto mining activities taking place in the United States. On Tuesday, May 2nd, the White House Council of Economic Activities (CEA) argued over the harms that crypto mining operations...
Read More »Coinbase Launches International Exchange with BTC and ETH Futures for Non-US Institutional Clients as SEC Crackdown Continues
The Coinbase International Exchange will provide institutional clients outside of the US with BTC and ETH contracts and up to 5x in leverage. Crypto exchange Coinbase has launched an international exchange to offer its teeming institutional clients an expanded portfolio of crypto services. According to the company, the new Coinbase International Exchange lists contracts for Bitcoin (BTC) and Ether (ETH) perpetual futures. In an official announcement, Coinbase said it received a...
Read More »Gemini Launches Non-US Derivatives Platform Dubbed Gemini Foundation
The company has promised its customers that it will be expanding its derivatives offering with additional perpetual contracts, dated futures, and options in the coming weeks. One of the top traded centralized crypto exchanges, Gemini Trust Company LLC, has announced the launch of its non-United States entity to serve markets outside the European market and the United Kingdom. According to the announcement, Gemini Foundation will begin to offer individual and institutional investors a...
Read More »Sotheby’s Launches Secondary Art-selling NFT Marketplace for Collectors & Artists
The new secondary art NFT marketplace by Sotheby’s also pays royalties from sales directly to the artists, from payments made by collectors. Sotheby’s has launched an on-chain non-fungible token (NFT) marketplace that facilitates the sale of secondary digital art items. According to Decrypt, the New York-based auction house now supports secondary NFT sales, allowing artists to transact directly with collectors. For example, interested collectors can list and make offers on work from select...
Read More »Investment Bank H.C. Wainwright Believes Crypto Winter Is Over, Rates Coinbase Stock as ‘Buy’
Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks. H.C. Wainwright believes that the crypto winter is over and has called for a buy on Coinbase (NASDAQ: COIN) stock. According to the New York-based investment bank, Coinbase stands to benefit from global digital asset economy growth sooner rather than later. H.C. Wainwright released a statement on Wednesday that underscored its bullishness on the prices of crypto assets. The...
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