The saga of Facebook’s ambitious blockchain initiative, originally dubbed Libra and later rebranded as Diem, serves as a cautionary tale about the intersection of technology and politics. David Marcus, the former head of this project, recently articulated the powerful role that political forces played in its downfall. In his reflections, he emphasized that the initiative’s
Money
In a significant move reflecting the tightening grip of regulatory measures in the crypto sector, Coinbase has announced the cessation of rewards for USD Coin (USDC) holders situated in the European Economic Area (EEA). Effective from November 1, the exchange’s decision is primarily driven by the impending implementation of the Markets in Crypto Assets (MiCA)
Stablecoins, currently valued at less than $200 billion in market capitalization, represent a minor fraction of the global financial landscape—only about 1% of the U.S. money supply and foreign exchange transactions. Despite their limited presence, a recent report from Standard Chartered and Zodia Markets indicates noteworthy potential for growth. This report, entitled “Stablecoins: The First
The regulatory environment for cryptocurrencies in Europe is undergoing significant changes with the introduction of the Markets in Crypto-Assets (MiCA) regulation. This framework aims to create a more structured approach to the governance of cryptocurrency assets, with particular emphasis on ensuring consumer protection and mitigating systemic risks within the financial system. One of the immediate
In a strategic bid to cement its position as a premier financial and cryptocurrency hub, Hong Kong has initiated a proposal to implement tax exemptions specifically targeting hedge funds, private equity funds, and high-net-worth family offices. This initiative, reported by the Financial Times on November 28, is articulated in a comprehensive 20-page government document. The
The cryptocurrency market, particularly Bitcoin, has always been a subject of intrigue and speculation among investors. Recent trends have raised serious concerns about its stability, particularly as the global M2 money supply shows signs of decline. Understanding these dynamics is crucial for any investor aiming to navigate the often-turbulent waters of crypto investment, especially in
Howard Lutnick, who has been selected by President-elect Donald Trump for the vital role of Commerce Secretary, is poised to launch a transformative $2 billion initiative that aims to lend funds against Bitcoin collateral. This move is noteworthy not just for its financial implications but also for its potential to reshape the relationship between conventional
As the world navigates the tumultuous waters of economic uncertainty, Bitcoin continues to assert its prominence as a leading cryptocurrency. Recently, the digital currency surged over 40% above its average trading price, coinciding with pivotal events like the November 5th U.S. elections. While many attribute this rally to favorable political forecasts, especially those linked to
The cryptocurrency market is always in flux, with Bitcoin frequently at the forefront of traders’ and investors’ attention. Recently, Bitcoin’s price action has been archetypical of bullish behavior, notably taking the shape of a symmetrical triangle pattern. This technical formation is essential for market analysts, as it often signals imminent price volatility. Essentially, a symmetrical
Heather Morgan, famously known in the rap world as “Razzlekhan,” has recently been sentenced to 18 months in prison for her involvement in a significant money laundering scheme connected to the notorious 2016 Bitfinex hack. Morgan and her husband, Ilya Lichtenstein, were embroiled in a conspiracy that siphoned approximately 120,000 Bitcoins, valued at $71 million