Coinbase persists in its pursuit of robust cryptocurrency legislation, particularly regarding its classification as securities. Despite the United States Securities and Exchange Commission's rejection of Coinbase's rulemaking petition concerning cryptocurrency on December 15, the exchange swiftly appealed this decision. Continue Reading

The SEC and Fidelity in the United States convened to review Fidelity's Wise Origin Bitcoin Trust application, examining diagrams and the operational aspects of the product.Continue Reading

The US dollar (USD) has strengthened significantly over the course of 2022 as the Federal Reserve hiked interest rates in an effort to quash hyperinflation. The U.S. Dollar Index, which measures the greenback against a basket of other currencies, is up nearly 18% so far this year.   As a result of these aggressive US...Continue Reading

Ethereum 2.0, the second largest cryptocurrency by market capitalisation, has successfully finally moved to its proof-of-stake consensus mechanism.   In doing so it will reduce its energy consumption by a whopping 99.5% compared to its previous proof-of-work system.    Per TheVerge, the enormous pollution reduction comes from a change in how Ethereum users earn new...Continue Reading

On Monday the U.S. Treasury Department placed sanctions against the cryptocurrency mixing service Tornado Cash, citing its use by the North Korea-backed Lazarus Group in the high-profile hacks of Ethereum bridges to launder and cash out the ill-gotten money.     Tornado Cash is a so-called mixer, which blends streams of digital currency to mask...Continue Reading

In the latest signs that Wall Street is moving towards cryptocurrency, Goldman Sachs has successfully offered its first Bitcoin-backed loan.   The secured lending facility lent cash collateralised by Bitcoin owned by the borrower, a spokeswoman for Goldman Sachs said.    “We recently extended a secured lending facility where we lent fiat collateralized on BTC;...Continue Reading

It was learnt in mid March that Do Kwon, founder of Terraform Labs and Ethereum layer 1 blockchain competitor Terra, was planning to accumulate US$10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves.   $UST with $10B+ in $BTC reserves will open a new monetary era of the Bitcoin standard. P2P...Continue Reading

Australia’s federal government is considering legislation to help Australia play a role in the emergence of Web 3.0, a new form of internet that underpins cryptocurrencies and digital assets.   Web 3.0 refers to the third iteration of the web, succeeding Web 1.0 of the 1990s, and the current version of the internet, Web 2.0....Continue Reading