News
‘War on crypto’ — Newly filed letters lambast proposed SEC custody rules
Industry representatives have cast doubt on the legality and impact of the U.S. securities regulator's proposal to expand custody rules. A proposal by the United States securities regulator to tighten rules around crypto custody has been met with opposition from at...
‘Bitcoin is not under attack:’ BTC maxis allay fears of a DoS offensive
Concerns circulated on Crypto Twitter of a denial of service (DoS) attack on the Bitcoin network. A sudden spike in Bitcoin (BTC) transaction fees and unconfirmed transactions sparked concern on Crypto Twitter over the weekend of a potential Denial of Service (DoS)...
Stripe tackles ‘cold start problem’ with the launch of fiat-to-crypto onramp
Web3 companies can utilize the Stripe-hosted fiat-to-crypto onramp to allow their customers to buy crypto at the “precise moment they need it.” Internet payment processor Stripe has introduced a fiat-to-crypto onramp to address the "cold start problem" faced by Web3...
Nifty News: Pudgy Penguins signs with WME, Bitblox to make Web3 gambling games and more….
Palm NFT Studio has also launched a new tool via Epic Games’ Unreal Engine that enables creators to make generative “game-ready” 3D assets and art collections. Blue chip nonfungible token (NFT) project Pudgy Penguins has signed a representation deal with major...
Cash App Bitcoin revenue tops $2 billion in the first quarter
Block’s Q1 earnings report reveals a 25% year-on-year increase in Bitcoin revenue from the fintech firm’s flagship product Cash App. Fintech firm Block, owned by Twitter founder Jack Dorsey, has reported a staggering $2.16 billion in Bitcoin (BTC) revenue on its...
Coinbase to cease issuing new Bitcoin-backed loans via Borrow service
The service allows users to borrow up to $1 million with no credit check, provided they post Bitcoin as collateral. Crypto exchange Coinbase is stopping the issuance of new loans through its Borrow service — a product that allows certain United States customers to...
Celsius eyes merge of entities as creditors claim distinctions were a ‘sham’
New court filings are pushing to straighten out the issue in a bid to help recover lost funds for customers. Defunct crypto lender Celsius Network is looking to combine its United Kingdom and United States entities as new court filings allege that any supposed...
Aussie crypto exchange kicks off US expansion despite ‘regulatory risk’
“Where other exchanges see regulatory risk, we see opportunity,” said Coinjar CEO and co-founder Asher Tan in a recent interview. Australian crypto exchange Coinjar is seeking to put its boots on the ground in the United States, with its CEO seemingly unfazed by the...
Friends and FOMO pushed newbie investors to buy crypto in 2022 — Survey
A survey from the Financial Industry Regulatory Authority (FINRA) suggests that new crypto investors tended to be swayed by suggestions from friends, compared to equities or bond investors. Influence from friends and the fear of missing out (FOMO) were some of the...
FDIC pins Signature Bank’s failure on poor governance and illiquidity
FDIC blamed SBNY’s board of directors and management for pursuing “unrestrained growth” using uninsured deposits without implementing liquidity risk management strategies. The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature...