Crypto | Bitcoin | Blockchain

2024-02-19 10:24:59 Coinbase Commerce Teases Solana and Lightning Network Integration

Coinbase Commerce, the offshoot of the American crypto trading platform designed to enable acceptance of crypto payments by merchants has unveiled its plans to integrate Solana (SOL) and Lightning Network in the long term. With the ongoing evolution in the digital currency ecosystem, Coinbase Commerce is restrategizing in a bid to further empower its users and onboarded merchants.

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2024-02-18 22:30:00 FixedFloat appears to have been exploited for $26.1 million in bitcoin, ether

Crypto exchange FixedFloat appears to have been exploited for $26.1 million in bitcoin and ether, according to on-chain data. Since the unexpected fund movements, the exchange has been put into maintenance mode and remains down. On X, the exchange said, "We encountered some minor technical problems and have switched our service to maintenance mode." The exchange has not confirmed the extent of the exploit and its website says, "Technical work is underway, we will be back soon."

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2024-02-18 13:35:22 US prosecutors ask judge to approve Binance plea deal

US prosecutors filed a sentencing memo on Feb. 16 asking a federal judge to sign off on the Binance plea deal, Bloomberg News reported. The plea deal entails Binance paying one of the largest criminal penalties in US history, amounting to $4.3 billion. The plea deal also requires that Binance be monitored for five years to ensure compliance with regulations.

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2023-07-03 13:26:02 Arrington recently filed with the SEC for an XRP-based Hedge Fund

Patrick L. RileyReaper Financial CEO hints at an exciting development for XRP. Arrington Capital, a digital asset management firm in blockchain-based capital markets founded in 2017, recently filed with the SEC for an XRP-based hedge fund, he said on Twitter. Riley added one piece of good news: “Hopefully everything turns out well.” Reaper CEO tweeted, “Arrington recently filed with the SEC for an XRP-based hedge fund. Looks like everything is expected to go well.”

Hedge funds pool investors’ money and invest it in the hope of positive returns. Typical investors include institutional investors such as pension funds and insurance companies, and wealthy individuals. Some hedge fund managers may not be required to register or file public reports with the SEC, depending on the number of assets in the hedge fund advised by the manager. Digital asset investment products saw the largest single-weekly inflows since July 2022, totaling $199 million, correcting nearly half of outflows for the past nine consecutive weeks, according to CoinShares, a digital asset investment firm that trades with cryptocurrency exchanges. Offers Exchange Traded Products (ETPs).

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2023-07-02 11:05:05 Kraken Is Requested By The IRS For Customer Information From $20,000

According to The Block, Kraken was ordered by a judge on Friday to provide certain user information to the Internal Revenue Service (IRS). The IRS wants the exchange to identify accounts with more than $20,000 in crypto transactions annually between 2016 and 2020. Kraken has previously objected to the IRS subpoena partly because its concerns will create a great burden. The exchange called the agency’s summons an “irrational treasure hunt,” arguing that it crossed the line.

Kraken will have to disclose information such as name, date of birth, physical address, phone number, and tax identification number. Friday’s ruling in favor of the government comes amid a deepening US crackdown on cryptocurrencies. The Securities and Exchange Commission this month filed a lawsuit accusing Coinbase of operating an illegal exchange and alleging that Binance.US mishandled customer funds, misled investors and agencies’ regulatory authorities as well as violations of securities rules. Kraken is a leading cryptocurrency exchange with a daily trading volume of around $650 million globally, according to CoinMarketCap. The company did not immediately respond to an email request for comment on the ruling.

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2023-07-01 11:20:06 Coinbase Defies The SEC In Landmark Lawsuit Showdown

According to a recent court ruling, the United States Securities and Exchange Commission (SEC) will respond to Coinbase’s first legal defense on July 13. This timing is surprising since Coinbase used a “creative” defense strategy by delivering its initial answer 40 days before the August 7 deadline. The SEC was supposed to respond to the exchange’s argument by July 3, but owing to the July 4 holiday weekend, they asked for a three-day extension, which the court granted.

Coinbase said in a letter filed just before midnight on Wednesday in Manhattan federal court that the SEC lacks the power to pursue civil claims against it because the assets traded on its platform are not “investment contracts” and hence not securities. In addition, the pre-trial meeting has been renamed a pre-motion conference and has been shifted from August 24 to July 13 at 14:00 UTC. Coinbase has maintained in its response to the SEC’s complaint that many of the coins referenced in the lawsuit are outside of the Commission’s purview. On June 6, the SEC filed a lawsuit against Coinbase, alleging that it gained billions of dollars as a middleman, including by trading at least 13 crypto assets, or tokens, such as Solana, Cardano, and Polygon, that should have been registered as securities.

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2023-06-30 10:25:06 President Joe Biden Pledges To Eliminate The Loopholes For Crypto

According to the Daily Mail, US President Joe Biden gave a key economic policy address in Chicago on Wednesday, threatening to target crypto traders and hedge fund managers but also encouraging all billionaires to pay more taxes to finance economic development. The speech was touted as an effort to propose a roadmap for American middle-class prosperity. “Bidenomics” is the new term for a strategy to tax the wealthy in order to invest in important national security industries such as semiconductors.

Earlier in May, the White House was rumored to be contemplating putting a punitive tax on encryption mining firms, with a ratio of 30% of encryption mining companies’ energy expenses, an extraordinary industry-specific penalty that might endanger such companies’ earnings. According to the White House Council of Economic Advisers (CEA), crypto mining corporations do not now have to pay the full expenses they generate, such as local environmental damage, higher energy prices, and the effect of increasing greenhouse gas emissions on the climate. Although other energy-intensive enterprises would not be taxed in the same way, the CEA claims that crypto mining does not produce the same local and national economic advantages as comparable electricity-consuming firms.

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2023-06-29 11:37:02 Horizen’s ZenIP 42204 Causes Privacy Features Removal from ZEN Coin

Horizen has made a groundbreaking announcement regarding the approval of ZenIP 42204. The decision signifies a significant change as all privacy features of ZEN will be removed at the consensus level. In a blog post on their official website, Horizen highlighted that this move aims to eliminate technical debt and proactively address potential regulatory threats. Consequently, ZEN will no longer retain its status as a privacy coin. The forthcoming deprecation of the ZEN Coin mainchain shielded pools marks a fundamental shift in ZEN Coin’s.

The decision to remove privacy features at the consensus level underscores Horizen’s commitment to streamlining its technology stack and aligning with evolving regulatory standards. By doing so, the platform seeks to address concerns surrounding privacy coins and establish a solid foundation of transparency and accountability. While the removal of privacy features may come as a surprise to some ZEN coin holders and privacy advocates, Horizen emphasizes that this strategic change will enable the platform to better manage technical debt and allocate resources towards further innovation and growth. The company remains committed to the long-term sustainability and development of the Horizen ecosystem.

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2023-06-27 14:01:02 Terra Classic Revival Plans Continue as 6 Engineers Aim to Revive LUNC Ecosystem

Six engineers calling themselves the “Six Samurai” are proposing a Terra Classic ecosystem revival plan for the blockchain as some community members try their best to break away from the shackles of disgraced founder Do Kwon and rebuild the project. Terra Classic is the original network created by Terraform Labs. It has continued as an independent blockchain rather than Terra 2.0, which is a forked version that was created in the wake of Terra's collapse. Its LUNC tokens are valued at $580 million as of Monday.

The engineers, co-led by “Bilbo Baggins” and “Solid Snake,” proposed a $116,000 three-month spend from the Terra Classic community in a governance proposal over the weekend, claiming they would work part-time on the project if approved. “LUNC has limitless upside potential, and we want to help realize it by leveraging our skills to bring value to the blockchain and all its investors in order to accomplish a true revival of the ecosystem,” Samurai Six said.“We're here to provide value to the ecosystem on its road to revival, and we see ourselves as contributors to the Terra Classic blockchain, both as developers and long-time community members/investors,” the team added.

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2023-06-26 10:24:02 Banking Giants Crédit Agricole, Santander Seek to Provide Crypto Custody Under French Registration

A subsidiary co-owned by Crédit Agricole and Santander has registered as a digital asset service provider in France. The registration of Caceis, a company that specializes in offering financial services to institutional investors, allows the two major European banks to tap into the crypto market. The registration, granted by the AMF earlier this week, will allow the entity, Caceis, to provide custody services for digital assets, including cryptocurrencies.

The move adds a major traditional financial services group to the growing number of crypto companies registered by the French watchdog, Reuters noted in a report. The DASP list already includes subsidiaries of other big players in the French financial market such as Societe Generale and AXA. Caceis was established in 2005 through the merger of the asset management activities of Crédit Agricole and Caisse d’Epargne, a French cooperative banking group. With a 69.5% stake, Crédit Agricole is its majority owner while Santander has a 30.5% stake. France has been open towards the crypto industry. Among the companies it registered as DASPs is Binance, the world’s largest cryptocurrency exchange.

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