U.S. Goverment Drafts Unified Crypto Oversight Plan

Share this article The Biden administration has drafted an executive order that could create a unified approach to crypto regulation. White House Could Appoint Crypto Czar As first reported by Bloomberg, the order would have federal agencies study various areas of the cryptocurrency industry and create recommendations within those areas. In particular, the order pertains to areas such as financial regulation, economic innovation, and national security. The order would pressure departments that have so far overlooked cryptocurrency to deal with those matters. The White House could also appoint a ‘crypto…

Mt. Gox Voting Deadline for Creditors Ends — CoinDesk

The groundbreaking cryptocurrency exchange, based in Tokyo, Japan, shut down in 2014 after thousands of bitcoins were stolen by unknown hackers. The process of making the exchange’s victims whole has been a lengthy, drawn-out process, characterized by delays and legal disputes. Today marks the end of yet one more milestone in the process: It is the deadline for creditors to approve or reject a civil rehabilitation proposal for compensation. Source link

Bakkt Partners With Google On Payments, Cloud Services

Key Takeaways Crypto trading platform Bakkt has announced a partnership with Google Pay that will integrate each platform’s payment services, Bakkt will also use Google Cloud as its preferred cloud provider. The two companies will additionally work to build new AI and geolocation tools for business insights. Share this article Crypto trading platform Bakkt announced a partnership with Google today that will integrate payments services across platforms and make use of cloud solutions to build new technology. Partnership Focuses on Payments Under the partnership, Bakkt users will be able to…

DEXs come to the rescue after China bans crypto

Over the past few months, there have been some major developments coming out of China that have rocked the cryptocurrency market and the global financial markets. China’s Evergrande debt repayment crisis sent shockwaves throughout global equities markets, as well as the United States Securities and Exchange Commission’s (SEC’s) consistent signaling of upcoming regulation for stablecoins and decentralized finance (DeFi) continued to weigh on sentiment within the market.  While the Evergrande situation somewhat resolved itself, for the time being, the government crackdown on unregulated DeFi platforms and stablecoin transactions continues. This…

Bitcoin Ends Week Notching 14% Gain — CoinDesk

“It appears as if the return of Chinese participants provided some fuel to the recent BTC fire, pushing prices temporarily above $56K overnight,” Armando Aguilar, FundStrat Global Advisors vice president of Digital Asset Strategy, told CoinDesk. “There was a similar risk-on sentiment in Chinese equity markets, with the Shanghai Composite closing up 0.67% in its first day back trading post-holiday.” Source link

Divergence Ventures Analyst Exposed for Farming Airdrop

Key Takeaways Divergence Ventures is a VC fund with investments in Ribbon Finance. On-chain data shows that an analyst at the fund recently received a total of 702 ETH from a number of wallets that had interacted with Ribbon Finance. The wallets received the project’s airdrop then traded the tokens for ETH. The firm has posted a public apology and sent 702 ETH to Ribbon’s DAO. Share this article Divergence Ventures has admitted that it “crossed a line” and sent 702 ETH to Ribbon Finance’s DAO.  VC Fund Farms $2.5M…

Airdrop Ethics: VC Firm Draws Ire Following $2.5M Ribbon Finance Exploit

On Friday afternoon, decentralized finance (DeFi) users discovered that a researcher for Divergence Ventures, a crypto venture firm, was receiving hundreds of ETH from wallets selling recently-airdropped RBN tokens – a sign of an airdrop exploit that Divergence later admitted to. The episode presents the largely unregulated, permissionless DeFi community with yet another chance to debate the nature of fair play in an increasingly powerful, $200 billion-dollar ecosystem where the only governance is on-chain rules and some modicum of common sense. “Airdrops” are a token distribution method that allows users…

Buzz Around Shiba Inu Is Nowhere Close to Retail Frenzy Seen in May — CoinDesk

While general interest has picked up slightly with SHIB’s 230% weekly gain, it is nowhere close to the peak of 100 reached on Google Trends in the second week of May. A score of 100 represents peak popularity among the general population – the maximum number of searches observed for a term during a given time frame. It indicates that more and more people are scanning the web for information on the trending topic. Source link