Author: Admin-aX9d7
In brief AUSTRAC is contacting inactive crypto exchanges and warning they must deregister or face cancellation. Several firms, including FTX Express and AccE Australia, have already lost their registrations due to inactivity or insolvency. The crackdown comes ahead of Australia’s May 3 election, with calls mounting for clearer crypto regulation. Australia’s financial watchdog has told dormant crypto businesses to “use it or lose it,” warning it will cancel registrations as part of a sweeping crackdown to protect consumers and curb criminal activity.The Australian Transaction Reports and Analysis Centre (AUSTRAC) said it is connecting with digital currency exchanges (DCEs) that appear…
Prosecutors have asked a judge to sentence Celsius Network founder Alex Mashinsky to 20 years behind bars.It comes as investors who lost their savings when the doomed crypto lender collapsed call for him to spend the rest of his life in prison.In a sentencing memo, the U.S. Justice Department said he should face “just punishment for his years-long campaign of lies and self-dealing that left in its wake billions in losses and thousands of victimized customers.”The filing asserts that Mashinsky “misrepresented how Celsius handled customer deposits, fabricated the company’s profitability, and placed his customers’ funds at the mercy of uncollateralized…
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The dog-themed bonk inu (BONK) token on Solana could be one to watch for in the coming weeks as a new token issuance platform uses part of its fees to buy the token, with nearly $1 million generated in the first three days after launch.Letsbonk.fun, built by members of the BONK community and Raydium, went live late Sunday as a Bonk-focused token issuance platform. A portion of fees will help secure and support the Solana network by using the BONKsol validator, per tweets, with over 10,000 tokens already issued.As of Tuesday, the biggest tokens on Letsbonk.fun are HOSICO ($30 million…
15h05 ▪ 4 min read ▪ by Fenelon L. The United Arab Emirates is taking a new step in its ambition to become a global hub for cryptocurrencies. The Abu Dhabi sovereign wealth fund ADQ, the conglomerate International Holding Company (IHC), and First Abu Dhabi Bank (FAB) announced on Monday their collaboration to create a stablecoin backed by the dirham, fully regulated by the Emirati central bank. In Brief The sovereign fund ADQ, the IHC conglomerate, and First Abu Dhabi Bank (FAB) are launching a stablecoin backed by the United Arab Emirates dirham. This project will be fully regulated by…
On April 14, someone put in a sell order for 2,500 bitcoin, worth roughly $212 million, on the Binance order book at $85,600, around 2-3% above the spot prices trading at the time. Seeing such a large order, the bitcoin price started to gravitate to this level at around 17:00 UTC. Suddenly, the order was gone, as seen using Coin Glass data, which caused a brief moment of market apathy as bulls and bears tussled to fill a void in liquidity.The bitcoin price at the time, however, was already on shaky ground due to geopolitical concerns. Subsequently, it went lower…
16h05 ▪ 8 min read ▪ by Mikaia A. Mark Carney’s election as leader of the Liberal Party of Canada paused a few breaths. For some Canadians, this victory was no longer a surprise. Even on the PolyMarket platform, crypto bettors had given Carney a 79% chance of winning the race. This change in leadership came in an increasingly tense political climate, notably with rising trade tensions between Canada and the United States. Carney, former governor of the Bank of Canada and the Bank of England, is about to take on a key role in an uncertain economic context, and…
There’s something that stands out about Monday’s suspicious transfer of more than 3,520 BTC ($330.7 million) to privacy coin monero (XMR), a conversion that blockchain sleuth ZachXBT said was probably linked to a hack: coordinated activity in the derivatives market.Monero, which obscures the sender’s and recipient’s addresses to provide an untraceable currency, has limited liquidity on exchanges, which makes it harder for users to transact without affecting the market and exposes them to slippage, the chance of the price changing for the worse before the deal is finalized. The decision to go through an illiquid cryptocurrency is unusual. Tether’s USDT…
In brief Bitcoin ETF inflows have exceeded $3 billion over five trading days while gold ETFs experienced $1 billion in outflows, creating a $4 billion gap between them. According to analysts, Bitcoin is outperforming gold ETFs because it serves as a better hedge against U.S. asset reallocation, evidenced by rising Treasury yields and declining demand. Standard Chartered predicts Bitcoin will reach new record highs, with targets of $120,000 by the end of Q2 and $200,000 by year-end despite today’s slight market decline. Bitcoin ETF inflows in the U.S. have topped $3 billion over the past five trading days, with data…
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.