Senate Bill To Turn CFTC Into Direct Regulator Of Bitcoin And Ether
A new bill championed by leading Democrats and Republicans on the Senate Agriculture Committee aims to make the Commodity Futures Trading Commission (CFTC) the direct regulator of Bitcoin and Ether. The bill thus joins a growing list of laws aimed at clarifying the rules governing cryptocurrencies, as the sector remain largely unregulated. The law requires […]
Bitcoin Rises 3.4% To US$24,584
Bitcoin, the world’s largest cryptocurrency, jumped 3.36% to US$24,584.24 on Saturday, trading at US$798.93 above its previous closing price. Ether, the coin linked to the Ethereum blockchain network, rose 0.61% to US$1,734.08 on Saturday, adding US$10.46 to its previous closing price. The 3.36% rise in Bitcoin’s value means the cryptocurrency is now 39.7% from the […]
NFT Marketplace OpenSea Lays Off 20% Of Its Staff
NFT marketplace OpenSea has cut 20% of its workforce. The decision was taken by the company to cut costs as the crypto world struggles to cope with the depreciation of digital assets. “The reality is that we have entered an unprecedented combination of a crypto winter and broad macroeconomic instability, and we need to prepare […]
Celsius Network Files For Bankruptcy
Celsius Network, one of the largest cryptocurrency lenders, has filed for bankruptcy protection. The company stated that the decision to file for bankruptcy would give the company an “opportunity to stabilize its business.” The startup was valued at US$3.25 billion when it expanded its “oversubscribed” Series B financing round to US$750 million in November. In […]
Federal Reserve’s Brainard Calls For Swift Regulation Of Cryptocurrency
Lael Brainard, vice chairman of the Federal Reserve, has called for rapid regulation of the crypto industry, given the many challenges facing the industry. According to Brainard, while the crypto-industry is fundamentally different from traditional finance, the sector has proven vulnerable to the same risks and should be subject to the same rules. These risks […]
FTX Has A “Few Billions” To Support Struggling Crypto Firms, Bankman Fried
Crypto expert and head of one of the world’s largest crypto exchanges Sam Bankman-Fried said he and his company still have a “few billion” to support struggling crypto firms. “We’re starting to get a few more companies reaching out to us. Those firms are generally not in dire situations, though some smaller crypto exchanges may […]
Pentagon Report Outlines Blockchain Vulnerabilities
A Pentagon-commissioned report has revealed some hard security truths about the blockchain, including the position that the blockchain is not decentralized, highly vulnerable to attack, and run on outdated software. The Pentagon’s research arm, Defense Advanced Research Projects Agency (DARPA), hired Trail of Bits, a security research organization, to study the blockchain. Trail of Bits […]
Bitcoin Miners Engage In Mass Sale Of Coins
Bitcoin miners are selling their coins in an effort to keep pace with the various challenges facing the cryptocurrency sector, including falling prices, rising energy costs and increased competition. Popular Bitcoin miners such as Bitfarms, Riot Blockchain and Core Scientific are among the companies that have announced sales, with the CEO of Bitfarms telling the […]
Researchers Uncover Keona Clipper Malware Used For Diverting Crypto Payments
Researchers from Cyble have discovered a new Clipper malware called Keona Clipper. The Clipper malware is able to redirect payments in cryptocurrencies to wallets controlled by attackers. To do this, Keona Clipper constantly monitors the contents of a user’s clipboard and searches for cryptocurrency wallets. Clipper malware is usually distributed in the form of trojanized […]
U.S. Crypto Firm Harmony Loses $100 Million Worth Of Coins To Hackers
U.S. cryptocurrency firm Harmony has confirmed a major cyberattack in which hackers stole around $100 million worth of digital coins from one of the company’s key products. Harmony explained that the cyber theft hit its Horizon “bridge,” a tool used to transfer crypto between different blockchains. According to Elliptic, a firm that tracks publicly available […]
