crypto blog
ECB president calls for crypto regulation in response to Russia potentially evading sanctions
Christine Lagarde, president of the European Central Bank (ECB), has called on lawmakers to approve a regulatory framework on crypto, hinting at potentially preventing Russia from getting around economic sanctions. Speaking to reporters at an informal meeting of economics and finance ministers on Friday, Lagarde said the European Central Bank would be “decisively and rigorously” implementing the sanctions on Russia imposed by European lawmakers in response to the country’s invasion of Ukraine. In response to a question on Russia potentially using crypto to evade some of these measures, the ECB president urged action on an existing proposal for a regulatory framework on digital assets. “Whenever there is a ban or prohibition or a mechanism in place to boycott or prohibit, there are always c...
Altcoin Roundup: 3 portfolio trackers NFT and DeFi investors can use to stay organized
The cryptocurrency ecosystem has seen a tremendous amount of growth over the past couple of years, as the introduction of decentralized finance (DeFi) and the popularity of nonfungible tokens (NFT) have led to an explosion of projects on more than a dozen blockchain networks. The rapidly growing ecosystem means investors have to keep track of multiple wallet addresses, making portfolio trackers a popular option for traders needing to manage a diverse multichain portfolio. Here are three portfolio-tracking decentralized applications, or DApps, crypto traders can use to help monitor their investments. Zapper Zapper supports the basic management of cryptocurrencies held on 11 different networks including Ethereum, Polygon, BNB Chain, Fantom, Avalanche and Optimism. The basic layout of t...
Why real estate investors are going crazy over virtual lands?
The value proposition of virtual land works similarly to the real world. High-value properties are often near shops and activities, in which people will pay higher rent to live by. Of course, the value of virtual land only increases if areas develop and people get involved in the metaverse. This prospect is why there are many skeptics of such an investment. The millions of dollars worth of investments into virtual land is all a risk, but it’s not an unfounded one. After all, celebrities and stars are buying virtual land for all sorts of reasons. Some celebrities, like Snoop Dogg, are buying land to get ahead of the trend or because they think it’s fun. Others, such as the Winklevoss Twins, invest in land for educational purposes — to build exhibits t...
Ethereum futures premium hits a 7-month low as ETH tests the $2,400 support
Ether (ETH) reached a $3,280 local high on Feb. 10, marking a 51.5% recovery from the $2,160 cycle low on Jan. 24. That price was the lowest in six months, and it partially explains why derivatives traders’ main sentiment gauge plummeted to bearish levels. Ether’s futures contract annualized premium, or basis, reached 2.5% on Feb. 25, reflecting bearishness despite the 11% rally to $2,700. The worsening conditions depict investors’ doubts regarding the Ethereum network’s shift to a proof-of-stake (PoS) mechanism. As reported by Cointelegraph, the much-anticipated sharding upgrade that will significantly boost processing capacity should come into effect in late 2022 or early 2023. Analyzing Ether’s performance from a longer-term perspective provides a more appealing sentiment, as the crypto...
Wyoming’s state stablecoin: Another brick in the wall?
For a state with a small-town feel, Wyoming moves with big-city alacrity when it comes to things crypto. According to the bipartisan bill introduced into its legislature last week, a Wyoming stablecoin could debut before the end of 2022. The announcement caught even Wyoming banker and cryptocurrency champion Caitlin Long by surprise. “Didn’t know it was coming,” tweeted the Avanti Bank CEO. It also raises some questions: Is a stablecoin really needed by Wyoming’s citizens? Is it feasible? Will it upset the state’s commercial banks including its recently chartered special purpose depository institutions (SPDIs) like Avanti which has issued a stablecoin-like product itself? Moreover, is a state-issued stablecoin even constitutional? And, aren’t there enough stablecoins around alr...
Bitcoin whales fuel BTC price comeback as stocks brush off Russia-Ukraine shocks
Bitcoin (BTC) kept $40,000 in play at the Wall Street open on Feb. 25 after 16% daily gains increased bulls’ confidence. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Whales “leading the charge” towards $40,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the $39,000 mark at the start of trading Feb. 25, geopolitical turmoil failing to induce a fresh major sell-off. Stocks also benefited as the week came to a close, with Germany’s DAX up 3% on the day and the FTSE 100 up 4% in London. Signals from the Russia-Ukraine conflict provided an additional boost, with the prospect of talks being raised by Ukrainian president Volodymyr Zelensky to end hostilities. With $34,300 this week’s floor, optimism was slowly incre...
Crypto community rallies with Ukraine as local NFT artists’ works sell out
It appears that crypto enthusiasts worldwide are rallying in support of Ukrainians during the difficult times. According to reports, Bitcoin (BTC) donations to Come Back Alive, a non-governmental organization helping Ukraine’s military efforts, received $3 million in BTC in a single donation on Friday. Users also took to social media to ask the country’s Ministry of Defense to accept crypto donations, such as Tether (USDT). At the same time, the founder of Ukraine’s Kuna exchange created a crypto fund to assist charities in the country. Everyone! Thank you for all the support and donations! The current plan is separated into 3 parts to involve as many as possible 1) direct donations (aimed at individuals)2) NFT Auction (via telegram & Opensea) 3) Project %...
Cointelegraph’s Top 10 in blockchain are here, but why should anyone care?
Have you ever compiled a ranked list? Perhaps the best movies about finance, your favorite wineries in France, the coolest bars in your city, or simply the people you want to grab a coffee with while in New York City for only two days? If so, I think you will agree with me: It may be extremely fun, but it is also extremely difficult. And the more contenders you plan to feature, the more difficult it is to establish an order that satisfies you. Now, imagine that you are compiling this list not alone but in discussion with dozens of your colleagues, every one of whom has an opinion you greatly appreciate. Then comes the moment in which you start repenting for ever asking for anyone’s opinion, as it is technically impossible to include everyone’s take. Moreover, you have to update the list at...
China’s Supreme Court rules public funding via crypto as illegal
The People’s Bank of China previously outlawed crypto trading across the country The new judicial interpretation from the Supreme Court has spelt out punishment for those that transact in cryptocurrencies China’s initial ban of cryptocurrency activities in September led to a global market-wide crash. The authorities, at the time, cited threat to financial stability as well as breeding of criminal activities like money laundering, gambling, and fraud as the reason for the take. However, the decision did not come with penalties or judicial prosecution for those that went against it. That is set to change from 1st March following a Thursday ruling from the country’s Supreme Court that has amended its Criminal Law in regards to raising public money through virtual assets. The...
BitMEX founders plead guilty to Bank Secrecy Act violations
The founders of crypto exchange BitMEX have pled guilty to violating the Bank Secrecy Act after a lengthy litigation process with the U.S. Department of Justice (DOJ). American Arthur Hayes and British Hong Konger Benjamin Delo admitted to “willfully failing to establish, implement, and maintain an anti-money laundering (AML) program” at their crypto derivatives and futures exchange, BitMEX. BitMEX is a Seychelles-based crypto trading platform that offers crypto futures, derivatives, and margin trading up to 100x. The exchange once offered its services without any know-your-customer (KYC) or AML verification procedures to Americans. The DOJ’s Feb. 24 announcement on the case states that such a lack of regulatory compliance essentially caused BitMEX to become a “money-laundering platform.” ...
Snow Crash’s Metaverse was filled with ads in 1992, and the real one will be too
Neal Stevenson’s Snow Crash, a techno-dystopian science-fiction novel that has become a legend among Silicon Valley tech bros, predicted the rise of a future Metaverse all the way back in 1992. Despite Stephenson saying that he was “just making sh*t up”, the eerily accurate predictions and worldbuilding of Snow Crash have been long-revered by tech entrepreneurs and futurists including Jeff Bezos and Mark Zuckerberg. Now, Stephenson’s striking fictional depictions of a Metaverse oversaturated with the neon glow of commercial advertising rings truer than ever as Web3 designers and marketers gear up to begin advertising in the Metaverse(s) of today. On Feb. 23, mixed-reality NFT platform Realm announced a partnership with decentralized advertising exchange Alkimi. Realm stated it intend...
Block nets $1.18B Q4 gross profit marking a 47% YoY increase
Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later (BNPL) firm Afterpay after the $29 billion deal officially closed at the end of last month. Block’s 2021 Q4 report was posted on Feb. 24, and the firm revealed significant gross profit increases across Cash App and Square, with each firm generating $518 million and $657 million apiece to mark YoY gains of 37% and 54% respectively. In total, the company generated $4.42 billion worth of gross profit for the entirety of 2021, marking a YoY growth of 62% compared to 202...
