Binance, a major cryptocurrency exchange, announced on May 12 that it will be halting operations in Canada. The company stated that it is joining other crypto companies who are “proactively withdrawing from the Canadian marketplace.” Despite Canada being a small market with sentimental value, Binance explained that recent regulatory guidance in the country has made
Coinbase has launched a Global Advisory Council to help guide its leadership team, with former US lawmakers Patrick Toomey, Tim Ryan, and Patrick Maloney joining the council. The announcement follows a regulatory probe from US regulators and lawmakers working on legislation to write rules for crypto. Toomey, Ryan, and Maloney were all active in introducing
Hong Kong-based Animoca Brands has announced that it is financially stable to continue its operations and is sitting on $2.7 billion worth of token reserves. The company has disclosed that it has a stablecoin reserve of $194 million and $566 million worth of liquid digital assets, including SAND, a utility token for the Sandbox NFT
Bitcoin’s price has fallen below its 55-day support level of $27,000, causing $100 million worth of long BTC futures contracts to be liquidated. The two-day, 7% correction resulted in a drop to $26,155, but Bitcoin margin and futures markets remained strong, providing hope of a recovery towards $28,000. Despite this, regulatory uncertainty in the United
On May 11, 2023, a vintage wallet created on June 19, 2011, relocated 139.7 BTC, worth $3.7 million at the time of transfer. This activity was flagged by Btcparser.com and confirmed at block height 789,291 at 8:14 p.m. (UTC). The wallet that received the transfer still holds the funds as of May 12, 2023, at
The U.S. Chamber of Commerce has voiced its support for Coinbase and the cryptocurrency industry. The Chamber has criticized the Securities and Exchange Commission (SEC) for its approach to cryptocurrency regulations in a court filing dated May 9. According to the advocacy group, the SEC has deliberately used a “haphazard, enforcement-based approach” to muddy the
Russian companies are exploring the use of cryptocurrency to pay for imports and receive crypto payments from foreign buyers of Russian exports. According to Anatoly Aksakov, Chair of the State Duma Committee on the Financial Markets, “big” Russian companies are already “using cryptocurrency to make payments.” The anti-crypto Central Bank has recently agreed to allow
The International Monetary Fund (IMF) has advised Zimbabwe to consider the potential risks to its economy before issuing a gold-backed digital currency. Zimbabwe’s central bank recently began circulating gold-backed digital coins in an effort to curb local demand for US dollars, which has caused the Zimbabwean currency to lose value. Liberalisation of foreign exchange market
In 2010, Gavin Andresen, a former Bitcoin developer, discussed the project with Satoshi Nakamoto, the inventor of Bitcoin. Among the topics covered were Andresen’s concerns about Bitcoin’s scripting language and the potential for network spam. Andresen’s Concerns During the conversation, Andresen expressed his apprehension about Bitcoin’s scripting language, stating that its complexity could be a
The US Securities and Exchange Commission (SEC) Chair, Gary Gensler, has been accused of avoiding requests for information about cryptocurrency-related matters. The House Financial Services Committee, which oversees the SEC, has held several crypto hearings this year. In one of these hearings, Committee Chair Patrick T. McHenry asked Gensler whether ether was a security or