Category: crypto

Five US states are continuing to pursue lawsuits against Coinbase’s staking program, which has led to over $90 million in rewards since 2023 being inaccessible to users. Coinbase is contesting allegations that its staking services constitute unregistered securities offerings and argues that regulatory uncertainty is affecting consumer choice in the digital asset industry.

Circle, the issuer of the USDC stablecoin, has denied rumors of applying for a US banking license. They clarified that they do not plan to become a bank but will align with future regulations on payment stablecoins. The focus is on supporting stablecoin legislation in Congress to promote innovation and consumer safety.

The first XRP spot exchange-traded fund (ETF) in the world, managed by Hashdex and Genial Investimentos, started trading on Brazil’s B3 stock exchange on April 25. The ETF, listed under XRPH11, tracks the Nasdaq XRP Reference Price Index and aims to attract sophisticated investors while following regulatory guidelines. XRP-related ETPs have $950 million in assets…

Newly sworn-in SEC Chairman Paul Atkins is calling for a comprehensive overhaul of the agency’s regulatory framework for crypto, criticizing outdated rules and enforcement-heavy policies that have stifled innovation. He aims to foster responsible innovation while safeguarding investors. Atkins is advocating for clear and workable rules for the digital asset sector.

The average cost to mine one Bitcoin increased to $82,162 in the fourth quarter of 2024, with factors such as hardware deployment and tax expenses driving the increase. Depreciation and stock-based compensation also contributed to higher costs. Some companies were able to reduce costs through efficiency gains. Electricity remains the largest direct mining cost. Tariff…

Senator Cynthia Lummis criticized the Federal Reserve’s recent decision to withdraw crypto-related supervisory directives as superficial and insufficient. She accused the Fed of harming the industry and American competitiveness. Lummis highlighted the Fed’s reliance on reputation risk assessments and called for fair access for crypto firms. She commended the OCC and the FDIC for moving…

The Swiss National Bank rejected calls to adopt Bitcoin in its reserves due to lack of liquidity and stability. Advocates push for a referendum to mandate Bitcoin holdings, citing global economic risks. Despite Switzerland’s blockchain innovation, SNB remains cautious. The initiative must gather 100,000 signatures to force a national vote.

North Korean hacking group Lazarus is using fake US-based crypto firms to distribute malware disguised as job opportunities. The group’s tactics have become more advanced, with the use of AI-generated fake employee photos. The malware, including BeaverTail and InvisibleFerret, gives hackers remote access to victims’ devices. This evolution in cybercrime poses a growing threat to…

The US Federal Reserve has rescinded earlier directives requiring banks to notify regulators before engaging in crypto activities. This change signals a potential revival of ties between the banking and crypto sectors, with the possibility of banks treating crypto as liquid collateral to boost liquidity and industry growth. Expect global acceptance of crypto-related activities.

Bitwise Asset Management is working on launching a new ETF based on NEAR Protocol’s native token, NEAR. The firm registered Bitwise NEAR ETF as a corporate trust service in Delaware. If successful, this would be the first NEAR-focused ETF in the US market, potentially increasing institutional exposure to the protocol.