Bitcoin Drops Below $60K Amid Broad Sell-Off in Crypto Markets

Former CFTC Commissioner Brian Quintenz joined “First Mover” hosts to look at the crypto regulation landscape. This comes as Quintenz joins the board of the first CFTC-regulated “events market,” Kalshi. Co-Managing Director and board member at Strategic Funds Marc Lopresti provided market insights as bitcoin dipped below $60K. Plus, Brave, the crypto-focused web browser, is adding a native wallet and will support Solana and all Ethereum virtual machine-compatible tokens. Brave CEO Brendan Eich explained the move. Source link

Elliptic Estimates $12B Lost to DeFi Exploits

Key Takeaways Crypto analytics firm Elliptic has published a new report that surveyed DeFi losses between 2020 and 2021. At least $12 billion has been lost to various attacks and incidents, with $10.5 billion stolen this year alone. Elliptic’s estimates are considerably higher than other similar surveys for reasons that are unclear. Share this article Crypto analytics firm Elliptic has published a new report suggesting that the DeFi sector has seen $12 billion in losses over the past two years. Most Theft Took Place This Year Elliptic says that more…

Traders say Bitcoin’s drop to $57K is an ‘attractive entry’ for hodlers

The price of Bitcoin (BTC) dropped to fresh lows on Nov. 18, and the brief visit to the $56,000 level resulted in a sharp sell-off in Ether (ETH) and altcoins. Data from Cointelegraph Markets Pro and TradingView shows that support at $60,000 was breached early on in the United States trading session, and this allowed bears to briefly take control of the market. BTC/USDT 4-hour chart. Source: TradingView Here’s what analysts have to say about the day’s price action and whether or not traders should be concerned about additional downside.…

DCG Secures $600M Credit Facility

Key Takeaways Digital Currency Group announced a $600 million credit facility today. This comes in the same month as its earlier $700 million equity raise. Digital assets may be volatile, but institutional money continues to flow into the space. Share this article Money continues to flow into the cryptocurrency industry, this time at a particularly deep institutional level.  DCG Raises $600 Million Credit Facility  Digital Currency Group (DCG), the behemoth digital asset conglomerate behind CoinDesk, Grayscale ($50 billion in assets under management), and Foundry (a bitcoin mining leader), announced today…

Airdrop rumors result in a swarm of activity on MetaMask Swap and Polygon

Five to six-figure-size airdrops have become the new norm in the crypto sector and a growing number of analysts believe there are more to come. In September dYdX distributed a massive airdrop to early users and last week the Ethereum Name Service gave out roughly $17,000 to $30,000 in ENS tokens to platform users. Anticipation of additional “helicopter money” has also led to a flurry of airdrop hunters seeking out the next big score.  The mad dash to engage with protocols and qualify for possible token drops led to an uptick in…

US lawmakers introduce bill to ‘fix’ crypto reporting requirement from infrastructure law

A bipartisan group of United States lawmakers has introduced legislation to change the tax reporting requirements that will go into effect due to the recently signed infrastructure bill. House Representatives Patrick McHenry and Tim Ryan introduced the Keep Innovation in America Act which would change the definition of broker as defined in HR 3684, the bipartisan infrastructure bill signed into law by President Joe Biden on Nov. 15. The bill proposes pushing back the mandated reporting requirements — which includes digital asset transactions worth more than $10,000 to be declared…

Market Wrap: Cryptocurrencies Slide as Buyers Stick to the Sidelines

Cryptocurrencies continued to slide as buyers appear to be taking some profits. Some analysts are now cautious on bitcoin’s short-term price direction given the recent loss of upside momentum. Bitcoin declined toward a three-week low on Thursday around $56,000 before stabilizing near $58,000. BTC is down about 11% over the past week, compared with a 14% drop in ether over the same period. “Downward momentum is hardly a good sign; pay attention to the cautious approach of bulls, which are not in a hurry to buy and waiting for more…

TIME Magazine to Hold ETH on Balance Sheet

Key Takeaways Galaxy Digital has entered a content deal with TIME Magazine to cover metaverse topics. Financed in ETH, the partnership will launch TIME100 Companies in metaverse category. According to Galaxy, TIME agreed to accept and hold ETH on its balance sheet. Share this article TIME Magazine will hold Ethereum on its balance sheet under a partnership with Galaxy Digital focused on metaverse content. The deal comes with the launch of the TIME100 Companies category on the metaverse. Galaxy Pays TIME Magazine in ETH for Metaverse Content According to a…

Play-to-Earn Game MonkeyBall to be Featured as Inaugural Flagship IDO on StarLaunch

Share this article The Solana-based play-to-earn game MonkeyBall has been selected as the launch partner of StarLaunch, a new Solana-based IDO and incubation platform. The first IDO on a new platform sets the expectations for all of its future sales, both in terms of the caliber of projects and the ultimate results for participants. Choosing MonkeyBall comes as a natural choice for StarLaunch, due to its large community and investor backing as well as strong fundamentals as an innovative high-production-value, Play-to-Earn game. MonkeyBall raised $3M from a host of venture…

‘We want to build Minterest as a fairer financial system,’ says CEO Josh Rogers

Decentralized finance (DeFi) protocols have gained significant traction in the cryptocurrency sector, with a total value locked surpassing $271 billion, based on data from DefiLlama. One exceptionally popular category of DeFi services is that of decentralized borrowing and lending, where users can pledge their crypto as collateral and take out stablecoin loans (or vice versa) to pay for everyday expenses while their investment continues to grow. Total value locked in DeFi. Source: DefiLlama Such protocols typically charge a spread or difference between deposit and lending rates as a service fee.…