The cryptocurrency market is lacking positive catalysts in the near term, Wall Street bank JPMorgan (JPM) said in a report Wednesday. The correction in crypto markets in recent months has seen both bitcoin (BTC) and ether (ETH) futures near backwardation, which is a sign of lower demand, the report said. Backwardation occurs when the spot … Read more
HONG KONG—Ye, the artist formerly known as Kanye West who has repeatedly called himself a “Nazi” in recent weeks, plans to launch a crypto token, according to three sources close to the project. The token, YZY, is designed to help Ye side-step platforms like Shopify that have cut ties with him in response to his … Read more
Digital asset marketplace Figure Markets has launched YLDS, the first yield-bearing stablecoin registered as a public security offering with the U.S. Securities and Exchange Commission (SEC), the company said Thursday. The YLDS stablecoin, issued through Figure Certificate Corporation, operates on the Provenance Blockchain and accrues interest daily, paid out every month in either U.S. dollars … Read more
After months of rapid expansion, Bitcoin’s hashrate growth slowed down in January, according to the latest report from TheMinerMag. The network’s difficulty saw its first decline since September, indicating that even though publicly listed companies have kept increasing their hash power, their growth isn’t enough to compensate for the capitulation of other, probably smaller operators. … Read more
Ethereum co-founder Vitalik Buterin expressed his disappointment with some ETH community members and thought it was “bad” that the ecosystem was too welcoming for “casinos.” During an ask-me-anything (AMA) on Tako, Buterin responded to a question about whether he had felt disappointed at the Ethereum Foundation, the crypto industry or the community. He answered “of … Read more
The European Central Bank (ECB) said it is looking to develop a way of settling distributed-ledger technology (DLT) transactions with fiat currency as it expands its work on the key feature that underpins the blockchain and cryptocurrencies. The bank plans a two-stage approach to using the technology, which is a decentralized database that is maintained … Read more
The U.S. Securities and Exchange Commission unit tasked with chasing bad guys in the crypto space will be smaller and called something significantly different, the agency said Thursday, further cementing its trend away from an aggressive enforcement stance against the industry. In three years, the same internal group has transitioned from the “Cyber Unit” to … Read more
In the wake of shifting U.S. policy, the crypto landscape is undergoing a fundamental change — from fast-moving speculative bets to long-term, anchored investments, said Bitpanda CEO Eric Demuth during a fireside chat at Consensus Hong Kong on Wednesday. Demuth said the 2024 bull run wasn’t a repeat of the retail-fueled 2021 cycle. Instead, it … Read more
As the Trump administration appears to fully embrace digital assets in the U.S., there are plenty of reasons to be optimistic about crypto’s future, but also many areas of uncertainty. In today’s issue, Beth Haddock from Warburton Advisers takes us through the first 30 days of Trump’s term and analyzes the far-reaching impact his administration … Read more
Already losing its legal fight with the crypto industry over a rule that would have expanded the definition of regulated securities dealers to include a wide array of digital assets operations, the U.S. Securities and Exchange Commission has given up its appeal. The SEC has been in reset mode on its courtroom entanglements with crypto … Read more