Category: crypto

Federal Reserve chairman Jerome Powell stated that the central bank does not want to prevent banks from serving legal customers in the crypto space as long as they understand the risks. Powell emphasized the need for banks to be cautious in offering crypto services, citing recent collapses of crypto-friendly banks as examples. Powell also expressed…

Bitwise CIO Matt Hougan believes there is a significant opportunity in the crypto market due to a disconnect between retail and institutional sentiments. Retail investors are skeptical while institutional capital continues to flow in. Altcoins are underperforming compared to Bitcoin, but Hougan remains bullish on the long-term potential of the market.

Bitcoin legislation is advancing in almost 30 US states, with proposals directing funds into Bitcoin reserves. If enacted, these bills could drive up to $23 billion in buying, reflecting a varied approach to sourcing public money. Some states are considering allocating a percentage of their funding sources to Bitcoin as a hedge or alternative store…

Former Binance executive Tigran Gambaryan criticized Nigerian authorities for scapegoating the exchange for economic challenges. He accused National Security Advisor Nuhu Ribadu of prioritizing pressuring Binance over investigating government corruption. Gambaryan’s release followed US pressure and bribery allegations, which Nigerian officials denied. He reported the bribery attempt to authorities.

Sora Ventures and its affiliates took control of Bitcoin-focused HK Asia Holdings through new board appointments. The board now consists of twelve directors, including individuals from Sora Ventures, Bitcoin Magazine owner BTC Inc., and UTXO Management. This move signifies a shift from passive investment to direct operational management in the Hong Kong-based company.

Commissioner Hester Peirce suggests that the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission (SEC) should regulate memecoins in the US due to their increasing popularity, sparking discussions on the need for regulatory oversight.

Crypto.com has launched its crypto asset services in all European Economic Area states, following the grant of a full Markets in Crypto-Assets (MiCA) license. The company aims to expand its institutional services, including an upgraded trading platform and secure asset storage solutions for institutional clients in the US, Canada, and Singapore.

ZkLend, a decentralized lending protocol on Starknet, confirmed an exploit resulting in an estimated $9.5 million loss. They offered a 10% bounty for the return of stolen funds, urging the attacker to send back the remaining 90% by Feb. 14. ZkLend has suspended withdrawals and is investigating the breach with law enforcement.

Brian Quintenz, Head of Policy at a16z Crypto, has reportedly been chosen by Donald Trump to lead the Commodity Futures Trading Commission (CFTC). Quintenz previously served as a CFTC commissioner and has been influential in shaping policy strategies in the crypto industry. Industry figures have endorsed his nomination.

In 2024, centralized crypto exchanges saw trading volumes of $18.83 trillion, with Binance accounting for 39.0% of the volume. Crypto.com and Bybit also experienced significant growth. The report highlights a shift in market share among exchanges, with newer platforms eroding the dominance of established ones. Overall trading activity in 2024 has rebounded but remains below…