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2023-02-20 18:14:16 Bitcoin market cap ‘flips’ payments giant Visa for the 3rd time
While the collapse of FTX shaved $100 billion off of BTC’s market cap in just four days last year, BTC has managed to fully recover and stack on another $65 billion. A 48% Bitcoin price surge since the start of the year has pushed BTC's market cap past that of payment processing giant Visa once again. With the BTC price currently at $24,365, its market cap of $470.16 billion is now marginally above that of Visa, which has a market cap of $469.87 billion, according to CoinMarketCap. Read more Open / Comment

2023-02-19 20:30:45 This Week In Crypto (CW 7)
1. Paxos ‘categorically disagrees’ with the SEC that BUSD is a security
2. SEC sues Do Kwon and Terraform Labs for fraud
3. Federal judge hints at denying Sam Bankman-Fried any internet access as condition of bail
4. El Salvador to open a ‘Bitcoin Embassy’ in the United States
5. Celsius chooses NovaWulf’s bid to exit from bankruptcy

CW6 (last week) Open / Comment

2023-02-19 17:17:50 Unlike Merge, Ethereum's Shanghai Upgrade Could Bring Ether Price Volatility
The next major catalyst for the crypto market is Ethereum's Shanghai upgrade scheduled in March, which will open up withdrawals of more than 16.5 million ether (ETH) staked in the blockchain. The impending upgrade comes months after the Ethereum blockchain underwent a technological overhaul, dubbed the Merge, switching to a proof-of-stake consensus mechanism from a proof-of-work setting. Traders might remember that ether, the second-largest cryptocurrency by market value, did not see much volatility after the Merge took place on Sept. 15 and conclude that the upcoming upgrade will be a non-event. However, such conclusions may prove inaccurate, according to OrBit Markets, an institutional liquidity provider in digital assets options. Read more Open / Comment

2023-02-18 18:26:18 Platypus salvages $2.4 million in hacked funds with BlockSec's help
After the Platypus protocol was hacked yesterday, at least $2.4 million in USDC stablecoin was returned to the exploited platform with help from blockchain security firm BlockSec. Of the almost $9.1 million in stolen funds from Platypus, it was revealed that the attacker could only cash out $270,000, according to MetaSleuth, a visualization tool from Blocksec. Some $8.5 million of stolen funds are frozen in the contract they were transferred to, and another $380,000 from a second attempted exploit were accidentally sent back to Aave, on-chain data show. Read more Open / Comment

2023-02-17 12:30:33 Terra founder Do Kwon charged with fraud over its $40 billion crypto crash
The US Securities and Exchange Commission is suing the creator of the collapsed Terra blockchain protocol for securities fraud following last year’s meltdown that sent reverberations throughout the cryptocurrency industry. According to the SEC’s complaint, Terraform Labs and its co-founder Do Kwon “perpetuated a fraudulent scheme that led to the loss of at least $40 billion of market value.” Last September, South Korea issued a warrant for Kwon’s arrest, while Interpol reportedly issued a “red notice” for him or a call to international law enforcement agencies to “locate and provisionally arrest a person pending extradition, surrender, or similar legal action.” Despite Kwon insisting that he’s “not on the run,” the complaint notes that “his current address is unknown.” South Korean police reportedly traveled to Serbia in an attempt to track him down earlier this month. Read more Open / Comment

2023-02-16 20:55:34 Bitcoin (BTC) breaks $25k mark, a day after breaching $24k
Bitcoin (BTC) has broken another level within a span of 24 hours. The largest cryptocurrency by market cap breached the $25,000 mark, a day after the coin broke another key level. The coin reached a high of $25,256 on Coinbase, as per the data presented on Trading View. The coin’s price has retracted ever since it peaked at this level. According to CoinMarketCap, Bitcoin was trading at $24,790 at press time and saw an uptrend of over 8% in the past 24 hours. The cryptocurrency registered a market cap of over $482 billion and had a market dominance of 42.8%. Read more Open / Comment

2023-02-16 04:56:33 Do you like charts and statistics? If so, make sure to checkout our latest post at CryptoStatistic here.

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2023-02-15 15:21:30 Binance CEO: Crypto industry will probably move to non-dollar stablecoins
The crypto industry will “probably” start using euro, yen, or Singapore dollar-based stablecoins in the future, reducing its reliance on United States dollar-based stablecoins, according to Binance CEO Changpeng Zhao, also known as “CZ.” CZ gave the statement in a Feb. 14 Twitter Spaces event in answer to a question about the crypto industry using gold as a standard of value instead of the U.S. dollar. CZ agreed that it “makes sense” to use gold. However, “most people’s costs are still in fiat currencies.” For this reason, most people calculate their investment returns in dollars, which is why U.S. dollar-backed stablecoins are “still important.” Read more Open / Comment

2023-02-14 20:10:32 On the 13th of January, the New York State Department of Financial Services instructed Paxos to stop producing new BUSD.

In the aftermath, Binance CEO Changpeng "CZ" Zhao has affirmed that users have begun to migrate to other stablecoins. Binance intends to make adjustments to its products, including transitioning from using BUSD as the primary trading pair. Despite these changes, Binance will continue to support BUSD in the near future.

Is it advisable to switch to other stablecoins and is there even a risk of BUSD losing it's peg?

Find answers at CE Pro ➜Click to join Open / Comment

2023-02-14 11:08:51 Paxos 'categorically disagrees' with SEC in calling BUSD a security
The stablecoin issuer said it got an SEC Wells notice pertaining to BUSD after the regulator alleged Paxos listed the stablecoin as an unregistered security. "We will engage with the SEC staff on this issue and are prepared to vigorously litigate if necessary," the company said in an emailed statement to The Block. "To be clear, there are unequivocally no other allegations against Paxos." Paxos will stop issuing BUSD following an order from the New York Department of Financial Services. Read more Open / Comment