Crypto news
Grayscale gears up for legal battle with SEC over Bitcoin ETF
Grayscale CEO Michael Sonnenshein said the firm is gearing up for a legal fight if Grayscale’s Bitcoin Spot ETF product is denied by the United States Securities and Exchange Commission (SEC). In an interview with Bloomberg on Tuesday, March 29, Sonnenshein was asked if he would consider the Administrative Procedure Act (APA) lawsuit option if the application for its Bitcoin Spot ETF was denied by the financial regulator. “I think all options are on the table,” he responded, highlighting the importance of continuing to advocate for investors. The next decision date for the approval or denial of the investment product is July 6, 2022, it was previously delayed in February, and was originally filed in October 2021. “The Grayscale team has been putting the full resources of our firm behind co...
Senate Finance Committee Chair probes “lack of safeguards” in crypto tax incentives
Democratic Senator Ron Wyden is digging into the activities of crypto companies that take advantage of tax breaks provided by the Opportunity Zone program. Senator Wyden’s main concern stems from the perception that some crypto companies may be taking advantage of what he called “a lack of safeguards and transparency measures” in the Opportunity Zone program. The concerns were raised in letters he sent to two companies and one individual. He wants to understand how they are providing the required reciprocal support for low-income communities as stipulated by the rules of the program. The Oregon Senator wrote letters to crypto miners Argo Blockchain and Redivider Blockchain and to Opportunity Zone specialist accountant from accounting firm HCVT Blake Christian. The Opportunity Zone program ...
The privacy tokens every investor needs in their crypto wallet: XMR, ZEC and SCRT
XMR, ZEC, and SCRT are some of the best privacy tokens. Each token has showcased a high level of growth. Every one of these tokens can get higher in value. Monero (XMR), Zcash (ZEC) and Secret (SCRT) are all privacy tokens. We will be going over each token individually so you can learn as much as possible about which one of these tokens marks a solid purchase opportunity. Should you buy Monero (XMR)? On March 28, 2022, Monero (XMR) had a value of $219.01. The all-time high value of Monero (XMR) was on January 9, 2018, when the token reached a value of $542.33. Monero (XMR) had its highest point in February on February 10, when it reached $187.07. Its lowest point was on February 24, when it decreased to $134.58. This means that the token decreased by $52.49 or by 28%. But from the span of ...
EU Parliament to vote on a new crypto wallet and transfer proposal
The upcoming vote follows a rejected proposal to limit proof-of-work cryptocurrencies The latest revision, among other changes, seeks to strictly manage crypto transfers involving self-hosted wallets Following last week’s rejection of a proposal (in the Markets In Crypto Assets bill) seeking to restrict Proof of Work (PoW) mining, a new EU report focusing on crypto transfers has been tabled. In a Saturday Twitter thread, Unstoppable Finance’s Patrick Hansen shared that the EU Parliament’s Committee on Economic and Monetary Affairs is set to hold a vote targeting ‘unhosted’ wallets. Hansen, who previously reported on the rejected MiCA proposal, stated that the proposal would crack down on these wallets. He added that the draft piece contains ‘absolute red...
Interoperability-focused Stargate Finance (STG) aims to kick off DeFi 3.0
“Stargate Finance” has been trending on Twitter for the past week and while it’s too early to call for a full-blown DeFi bull market, traders have been shoveling funds into the project, which claims to be a “composable omni-chain native asset bridge.” Data from Cointelegraph Markets Pro and TradingView shows STG was listed on exchanges on March 17 and its price has climbed 438% from a low of $0.665 to a high of $3.58 on March 25. STG/USDC 1-hour chart. Source: TradingView Here’s a look at some of the developments with the protocol that have attracted DeFi users and boosted the price of STG ahead of its initial community auction. Cross-chain composability Interoperability has been a growing theme across the cryptocurrency ecosystem and this theme continues to expand as inv...
Mark Karpeles announces commemorative NFT drop for Mt. Gox users
The former CEO of thnow-defunct crypto exchange Mt. Gox has announced that certain users will be eligible to receive commemorative nonfungible tokens, or NFTs. In a Monday announcement on Twitter, Mark Karpelès said that crypto users who were Mt. Gox customers between 2010 and 2014 — during which time the exchange was hacked and subsequently declared bankruptcy — could register to claim a free NFT. According to the CEO, the offer extends to users who had a balance or have claimed losses from the defunct exchange. “Mt. Gox customers are early adopters, some of them were on BitcoinTalk when Satoshi Nakamoto was still posting,” said the project website. “A new token or NFT airdrop is a great way to engage users and at the same time erase a bit of the loss incurred in Mt. Gox.” You can claim y...
Gold industry taps blockchain for supply chain management and fraud prevention
Some of the most prominent organizations in the gold industry have joined forces to launch a new “integrity program” that utilizes blockchain technology for supply chain management — a move that’s intended to help market participants verify the authenticity of their bullion. London Bullion Market Association (LBMA) and the World Gold Council (WGC) announced Monday that they are collaborating to develop an “international system of gold bar integrity, chain of custody and provenance” that’s based on blockchain technology developed by companies aXedras and Peer Ledger. The ledger will be used to register and track gold bars at each stage of the production and distribution cycle, including mining, vaulting and purchase by jewelry manufacturers. The so-called Gold Bar Integrity Programme ...
From taxes to electricity, blockchain adoption is growing in Austria
Austria has been actively transforming into an attractive location for providers of blockchain-based products, with the government itself experimenting with the technology and trying to create a legal basis upon which companies can use it. With regard to blockchain-based applications in the economy, however, Austria is still in the experimental phase, with most firms still running pilot projects. Still, politicians and economists alike see potential for select industries. Public administration reform via blockchain The Austrian government is quite open to blockchain innovations, cryptocurrencies aside, and has supported various projects in the public and private sectors. In 2019, a consortium of public administration institutions founded the Austrian Public Service Blockchain (APSB)....
Ghanaian art creator Kojo Marfo presents his own NFT series
Acclaimed Ghanaian artist Kojo Marfo is presenting his own NFT series, CoinText learned from a press release. He will be collaborating with JD Malat Gallery to mint the collection. The minting will take place in April this year. A powerful, impactful tool Artwork is a powerful tool that can offer diverse views of controversial issues. His upcoming NFT collection highlights the ongoing evolution of society. Marfo believes NFTs are the next frontier of communication for artists, forging a strong connection between the real and the virtual world. The NFT collection was created through 250 characteristics, which generate unique NFTs. It is inspired by the artist’s origins in Ghana and by history. A unique artistic style Marfo uses traditional Akan art to highlight issues such as religion...
Ether and Solana see $230M in Combined 24-Hr Liquidations as Bitcoin Clears $47,500
A late Sunday upward momentum has pushed the majority of cryptocurrencies in the market above previously challenging resistance zones. Bitcoin records a close above $47,200 The price of Bitcoin, the market leader, has increased by 6.29% in the last 24 hours as per market data at the time of writing. The flagship cryptocurrency cleared resistance at $47,000, breaking into the range of January highs late on Sunday. It maintained its uptrend into Monday, setting a new year-to-date high of $47,656 only a few hours ago as per CoinMarketCap data. The market swell appears to be a result of several bullish factors across the cryptocurrency sector. Most notable is the recent revelation of a $1o billion worth of Bitcoin ‘reserve’ plan by Terra blockchain founder Do Kwon. Another factor c...
Russia seeks to eliminate the ‘legal vacuum’ around crypto mining
Russia’s deputy minister for energy, Evgeny Grabchak. proposes the regulation of crypto mining He also advocates for regional authorities to manage mining activities – energy quotas and allocation of sites The discourse around Russia and cryptocurrencies is slowly turning into a never-ending affair. Various matters have come up, from the proposition to ban crypto before the Ukraine invasion to the role of crypto in evading sanctions and, most recently, the introduction of Bitcoin as an option for countries to pay for Russian oil exports. Now, according to a report published by a local news agency Tass, the deputy minister of energy Evgeny Grabchak is proposing introducing a regulatory framework around cryptocurrencies. Regional authorities should determine the location of sites for m...
Bitcoin retreats below $47k after closing in on its yearly high
Bitcoin climbed above $47,200 late on Sunday and continued hovering around this range in the morning Asian trading hours Analysts expect the Satoshi coin to maintain the uptrend in the short term The majority of cryptocurrencies in the market are trading in the green, having recorded decent profits on Sunday. Bitcoin, the market leader, surged from around $44,720 on 11:00pm (UTC +3 hours) Sunday to a multi-week high of $47,290 on 3:40am (UTC +3 hours) Monday as per CoinMarketCap data. Markedly, the ascent past $47,200 represents the first time Bitcoin hit breakeven since the turn of the year. After starting the year at $46,700, Bitcoin consistently posted gains in the first three days, peaking above $47,730. It has, however, failed to reclaim this level with every attempt – except ye...
