Recently, Senators Cynthia Lummis and Ron Wyden raised concerns about the Department of Justice’s attempt to expand the definition of a money-transmitting business. They argued that the DOJ’s broad interpretation could potentially criminalize non-custodial crypto asset software services. This has sparked a debate on the implications of such a move. The Department of Justice’s argument
Cash
The recent slump in crypto prices following US economic data has left traders searching for altcoins with bullish momentum that could potentially be the best crypto to buy at the moment. With Bitcoin dipping back to the low $61,000s and Fed officials expressing hawkish sentiments, the market is facing uncertainties about the future direction of
Monero (XMR) has recently seen a surge in discussions on social media platforms following the announcement of LocalMonero’s closure. This increase in attention comes at a time when governments around the world are making efforts to regulate privacy-focused cryptocurrencies like Monero. The closure of LocalMonero, a peer-to-peer exchange based on Monero, has sparked conversations about
The world of cryptocurrency can be a volatile and unpredictable one, and the recent performance of Friend.tech’s $FRIEND token is a testament to that. In the last hour alone, the token has experienced a 4.3% drop in value, following a trend of red candles in the broader cryptocurrency market. This comes on the heels of
Cardano founder, Charles Hoskinson, recently sparked interest in a potential partnership between Cardano (ADA) and Bitcoin Cash (BCH). Hoskinson initiated a poll to gauge public opinion on the idea of collaborating with Bitcoin Cash to enhance its performance through innovative technologies such as proof of useful work (PoUW), non-interactive proofs of proof-of-work (NIPoPoW), and Ergo
Block, owned by X co-founder Jack Dorsey, recently announced that they will be investing 10% of profits made from bitcoin-related products into monthly BTC purchases. In his Q1 2024 earnings report, Dorsey emphasized the importance of bitcoin as the best candidate for a decentralized open protocol for money. This move comes as Block addresses concerns
The recent guilty plea of Russian national Alexander Vinnik, the operator of the infamous crypto exchange BTC-e, sheds light on the dark underbelly of the cryptocurrency world. Vinnik’s involvement in money laundering activities through BTC-e, which was one of the largest crypto exchanges globally between 2011 and 2017, highlights the ease with which illicit funds
Coinbase, the leading cryptocurrency exchange in the United States, recently reported its earnings for the first quarter of 2024. The company’s total revenue for the quarter stood at a remarkable $1.6 billion, representing a substantial 72% increase compared to the previous quarter. Moreover, Coinbase’s net income reached an impressive $1.18 billion, equivalent to $4.40 per
MicroStrategy recently made headlines during their annual MicroStrategy World conference with the unveiling of “MicroStrategy Orange” – a decentralized identity solution built on Bitcoin. This platform aims to combat online spam by providing an enterprise-grade platform for implementing Decentralized Digital Identifiers (DIDs) across organizations. One of the core services offered is “Orange for Outlook,” which
Recently, Fintech giant Block, which oversees Square and Cash App, has come under the radar of federal prosecutors from the Southern District of New York. Allegations of significant compliance failures have surfaced, following disclosures by a former employee regarding lapses in the company’s transaction monitoring systems. The alleged mishaps involve Square processing transactions with entities