Oluwapelumi Adejumo

US senators challenge DOJ’s broad definition of crypto money transmitters

Two US lawmakers have opposed the Department of Justice’s (DOJ) attempt to expand the definition of a money-transmitting business. In a May 9 letter to US Attorney General Merrick Garland, Senators Cynthia Lummis and Ron Wyden argued that the DOJ’s broad interpretation could criminalize non-custodial crypto asset software services. According to the lawmakers: “The DOJ’s unprecedented […]
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Cryptocurrency

Crypto investment products see first inflow in weeks despite subdued trading volumes

Crypto-related investment products recorded their first inflow in over a month, totaling $130 million during the past week, according to CoinShares’ latest weekly report. The inflows mark a notable shift in investor sentiment after weeks of negative flows across the crypto market. However, the inflow did not improve investors’ participation in the asset class as […]
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Cryptocurrency

New Hampshire representative proposes Bitcoin ETF investment to address state financial liabilities

New Hampshire State Representative Keith Ammon discussed the potential benefits of the state diversifying its financial reserves into Bitcoin exchange-traded funds (ETFs) in a May 12 social media post. The SEC approved trading spot Bitcoin ETFs on US exchanges in January. Since then, the products have generated huge interest, with major financial institutions like JPMorgan […]
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Cryptocurrency

Analysts warn MicroStrategy’s plan to fuel Bitcoin buys with debt could backfire

MicroStrategy could raise as much as $600 million from its latest convertible debt offering to purchase more Bitcoin. However, JPMorgan analysts have reportedly cautioned that the firm’s reliance on debt to purchase Bitcoin could exacerbate a market downturn. The firm, led by BTC advocate Michael Saylor, has acquired over 15,000 BTC worth nearly $1 billion […]
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Cryptocurrency

Hong Kong SFC expands violations list adding MEXC for unlicensed operations

Hong Kong financial regulator, the Securities and Futures Commission (SFC), issued a public warning about MEXC’s unlicensed operations within its jurisdictions. SFC stated: “The entity purports to be a virtual asset trading platform operating at the above website. It has been targeting Hong Kong investors but is not licensed by the Securities and Futures Commission.” […]
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Cryptocurrency

El Salvador receives Bitcoin donation after revealing on-chain address

El Salvador received Bitcoin donations after President Nayib Bukele shared the Central American country’s digital wallet address with the public. In a March 14 post on social media platform X (formerly Twitter), Bukele revealed that the country transferred “a big chunk of our Bitcoin to a cold wallet and stored that cold wallet in a […]
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Cryptocurrency

US senators push SEC to reject other crypto ETF proposals, casting doubt on Ethereum ETF approval chances

The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. In the March 11 letter to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler advised the financial regulator to […]
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Cryptocurrency

MicroStrategy spends $821 million to grow its Bitcoin hoard to 205,000

MicroStrategy has increased its Bitcoin stash to more than 200,00 after acquiring 12,000 Bitcoin for $821 million between Feb. 26 and Mar. 10, according to a Mar. 11 SEC filing. This purchase was primarily financed by the net proceeds from its recent convertible debt offering, alongside excess cash reserves. With this purchase, MicroStrategy has acquired […]
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Cryptocurrency

Arbitrum DAO to refine legal aid proposal for Tornado Cash amid industry debate

Arbitrum’s decentralized autonomous organization (DAO) has withdrawn a proposal aimed at funding the legal defense expenses of Tornado Cash’s developers. In a Mar. 9 post on social media platform X (formerly Twitter), Joseph Axisa, the Arbitrum DAO contributor who wrote the proposal, explained that it was removed for further refinements. Axisa said: “[The] proposal was […]
The post Arbitrum DAO to refine legal aid proposal for Tornado Cash amid industry debate appeared first on CryptoSlate.
Cryptocurrency

Over $1 billion wiped off HEX’s valuation following Richard Heart’s disparaging remarks

Ethereum-based Hex’s (eHEX) market capitalization plummeted by more than $1 billion after Richard Heart, the controversial figure behind the project, described it as an illegitimate version. Heart’s controversial statement In an extensive Mar. 10 post on social media platform X (formerly Twitter), Heart renounced eHEX, affirming that only the HEX on Pulsechain was genuine. According […]
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Cryptocurrency

Bitcoin and Ethereum investment options to debut on London Stock Exchange

The London Stock Exchange intends to potentially list Bitcoin and Ethereum exchange-traded notes (ETNs) by the second quarter of this year, as revealed in a Mar. 11 market notice. This followed the UK’s Financial Conduct Authority (FCA) approval for Recognised Investment Exchanges (RIEs) to establish a listed market segment dedicated to crypto asset-backed ETNs, according […]
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Cryptocurrency

Crypto investment products near all-time high with $1.84 billion weekly net inflow

Crypto-related investment products saw significant inflows last week, totaling $1.84 billion—this year’s second-largest weekly inflows—according to CoinShares’ latest weekly report. This significant inflow was also matched by a record trading volume of more than $30 billion during the same period, which at times represented 50% of global Bitcoin daily trading volumes on trusted exchanges. James […]
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Cryptocurrency

Worldcoin userbase nears 4 million amid global privacy probes

Worldcoin’s adoption continues to grow despite the growing privacy concerns from several jurisdictions. According to its website, registered users on its platform have reached almost 4 million in less than a year after its launch, registering more than 600,000 accounts within the past week. Worldcoin, a crypto project co-founded by Sam Altman, is a blockchain-based initiative […]
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Cryptocurrency

Record-breaking Bitcoin price surge on horizon as OTC desks dry up, predicts 10X Research

Bitcoin’s price is primed for a surge that could hit record-breaking highs this week, according to a 10X Research report shared with CryptoSlate. Why BTC will print new ATH The report outlines key factors driving this bullish momentum. It suggests that Bitcoin will experience a significant upswing if the outflows from Grayscale’s Bitcoin ETF drop […]
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Cryptocurrency

Polygon spinoff Avail raises $27 million in seed funding to build Web3 infrastructure

Avail, a blockchain infrastructure project, raised $27 million in its seed funding round led by notable venture capital firms Founders Fund and Dragonfly, according to a Feb. 26 statement shared with CryptoSlate. The raised capital will fuel the development of Avail’s three fundamental products: Data Availability (DA), Nexus, and Fusion. These components, forming what it […]
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Cryptocurrency

Saturn secures $800k for Bitcoin-based decentralized exchange development

Saturn, a peer-to-peer order book built on the Bitcoin network, secured $800,000 for its seed funding round led by Sora Ventures, according to a Feb. 26 statement shared with CryptoSlate. With this capital, Saturn intends to expedite its vision for Bitcoin-based fungibility. The funds will fuel further advancements in its technical infrastructure, team expansion, and […]
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Cryptocurrency

MSTR rallies 10% as MicroStrategy buys $155 million Bitcoin in 10 days

MicroStrategy bolstered its Bitcoin reserves by purchasing 3,000 BTC for approximately $155 million within ten days. This purchase takes the business intelligence and Bitcoin development firm’s total holding to 193,000 BTC, acquired for around $6.09 billion at an average price of $31,544 per BTC. According to Nasdaq data, the news has positively impacted the early […]
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Cryptocurrency

Solana suffers $3 million ETP outflows post-outage as Bitcoin responsible for 95% of inflows

Solana’s recent outage appears to be weighing heavily on investors’ minds, with crypto investment products related to the blockchain network seeing outflows of $3 million during the past week. CoinShares’ latest weekly report showed the network as the only major digital asset that recorded negative flows for the duration, blaming it on how “recent outages […]
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Cryptocurrency

Bitcoin’s safe-haven status strengthened despite recent price crisis: Kaiko

Bitcoin has offered significantly higher returns than traditional safe-haven assets like gold, U.S. bonds, or the dollar. Data from Paris-based crypto analytical platform Kaiko showed that an investment in the top cryptocurrency in January last year would have yielded more than 100% returns, while similar investments in gold and other assets would have generated considerably […]
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Cryptocurrency

OKX pulls plug on mining pool amid declining user and hashrate numbers

Crypto exchange OKX will discontinue its mining pool services due to “business adjustments” reasons, according to a Jan. 26 statement. The platform said it had halted new customer registrations, effective immediately. Existing users will retain access to the platform until Feb. 25, after which all mining pool-related services will be discontinued by Feb. 26. “Due […]
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Cryptocurrency

Grayscale selling pressure ‘largely behind us,’ spotlight on Newborn Nine: JP Morgan

Analysts from banking giant JPMorgan believe that the profit-taking from the Grayscale Bitcoin Trust (GBTC) may have concluded, potentially alleviating the downward pressure on Bitcoin prices.  The analysts explained that they had estimated that GBTC could see as much as $3 billion in outflows from investors previously exposed to its discount. But with the flow […]
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Cryptocurrency

Ethereum validators’ reliance on Geth sparks client diversity push by Coinbase

Coinbase, a leading cryptocurrency exchange, announced plans to diversify its execution clients amidst concerns over the dominance of go-Ethereum (Geth). In a Jan. 23 statement on the social media platform X (formerly Twitter), Coinbase Cloud disclosed ongoing evaluations to identify alternative qualified execution clients for its platform while acknowledging the growth being made in the […]
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Cryptocurrency

Coinbase’s Base leverages Chainlink technology to enhance developer capabilities

Ethereum layer 2 network Base has successfully integrated Chainlink Automation to enhance the scalability of smart contracts, according to a Jan. 23 statement provided to CryptoSlate. This integration would allow Base developers access to decentralized, verifiable, and gas-efficient smart contract automation features. Chainlink Automation is a secure and cost-efficient service tailored for Web3 developers, offering […]
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Cryptocurrency

Bearish Bitcoin leads to tumble in crypto stocks, with Coinbase taking a hit

The shares of several U.S.-listed crypto companies experienced substantial declines in their values due to the significant market downturn today, Jan. 23. Earlier today, Bitcoin’s price retraced more of the gains it made in anticipation of the U.S.-based spot exchange-traded fund (ETF) launches in the U.S. The flagship digital asset dropped below $39,000, marking its […]
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Cryptocurrency

ARK Invest continues Bitcoin futures ETF rotation with multimillion-dollar ARKB purchase

Cathie Wood’s ARK Invest has maintained its strategic investment approach by accumulating shares of its Ark 21Shares Spot Bitcoin ETF (ARKB) for inclusion in its Next Generation Internet ETF (ARKW), according to the company’s latest trade filing seen by CryptoSlate. In this recent transaction, ARK Invest acquired 523,541 ARKB shares at $21 million while divesting […]
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Cryptocurrency

TrueUSD’s slip from $1 peg deepens amid broader sell-off as FDUSD thrives

TrueUSD (TUSD) deviation from its $1 peg has widened under the current red market situation. Data from CryptoSlate shows that the stablecoin dipped as low as $0.9778 in the past 24 hours, coinciding with substantial sell-offs seen in the major cryptocurrencies like Bitcoin and Ethereum. On Jan. 16, CryptoSlate highlighted increased volatility in TUSD’s value […]
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Cryptocurrency

SEC Chair Gary Gensler issues stark warning about crypto investing ahead of Bitcoin ETF decision

The U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler issued a cautionary advisory regarding crypto asset investments just ahead of the highly anticipated spot Bitcoin exchange-traded fund (ETF) approval deadline. In a Jan. 8 post on social media platform X (formerly Twitter), Gensler highlighted the risks of investing in cryptocurrencies, citing regulatory non-compliance, volatility, […]
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Cryptocurrency

Terra’s USTC stages remarkable rally with 150% surge over 24 hours

Terra’s failed algorithmic stablecoin USTC topped CryptoSlate’s daily biggest gainers list on Nov. 27; the token’s value shot up over 150% in the last day and was up 39.9% over 24 hours at press time. The digital asset rose to $0.07581 during the reporting period, its highest level since May 2022, when the industry was […]
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Cryptocurrency

Justin Sun defends Tron following allegations of facilitating terror financing

Justin Sun, founder of the Tron (TRX) blockchain, has defended the network in a Nov. 27 X (formerly Twitter) post following a Reuters report that it is increasingly being used to finance terrorist activities and organizations. Sun stressed that Tron’s decentralized structure, similar to Bitcoin (BTC) and Ethereum (ETH), forms the core of its philosophy. […]
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Cryptocurrency

Imminent Bittrex Global closure triggers $10k Bitcoin premium on platform

Bittrex Global’s imminent closure has led to Bitcoin (BTC) trading at a substantial premium exceeding $10,000, data from its website shows. The exchange’s BTC/US Dollar pair surged to $46,300 before retracing to $44,613 as of press time, significantly surpassing the current average price of $36,450 on major platforms like Binance and Coinbase. Data from Tradingview […]
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Cryptocurrency