Notes 5/22: Bitcoin Price, Tornado Cash’s TORN, and Proof of Reserves in Texas

Bitcoin price remained stagnant over the weekend and continues to trade sideways in the $26,000 range. As of this writing, it is at $26,904.77, roughly unchanged from its price a day earlier. A Tight Range The days of frothy trading in the cryptocurrency’s ecosystem, when its price regularly notched up double-digit gains and set records,… Read More Notes 5/22: Bitcoin Price, Tornado Cash’s TORN, and Proof of Reserves in Texas

Notes 5/19: Bitcoin Price Is Stagnant, Ether Use Cases Dwindle While its Staking Rewards Multiply

Bitcoin price rallied past the $27,000 mark yesterday morning but is back in the $26,000 range today. As of this writing, the cryptocurrency is changing hands at $26,923, down 1.2% from a day earlier. Amid regulatory crackdowns and investor defections in the United States, there is a sliver of positive news from Asia. CoinDesk reports… Read More Notes 5/19: Bitcoin Price Is Stagnant, Ether Use Cases Dwindle While its Staking Rewards Multiply

Notes 3/17: Bitcoin in Tether’s Reserves

Tether is Bitcoin’s new savior. The crypto world’s biggest stablecoin plans to increase bitcoin holdings in its reserves by investing 15% of its future profits into bitcoin. According to its latest attestation report, Tether had $1.5 billion worth of bitcoin on its books. The firm said it will use “realized profits”, or profits accruing to… Read More Notes 3/17: Bitcoin in Tether’s Reserves

Notes 5/16: Lido Begins Withdrawals, Aragon DAO Drama

Staking platform Lido’s pile of $12 billion worth of ether came online yesterday after the platform commenced staking withdrawals. Lido is Ethereum’s biggest staking platform, accounting for approximately 32% of all staked ether as of this writing. Mass withdrawals from the platform could have had a catastrophic effect on ether price from individuals selling their… Read More Notes 5/16: Lido Begins Withdrawals, Aragon DAO Drama

Tether Releases Attestation Report

Controversial stablecoin Tether released its latest reserves report for the first quarter yesterday. As usual, there are many red flags. The stablecoin has released an attestation and not an audit, meaning the accounting firm responsible for verifying Tether’s reserves only checked the state of its finances at a particular moment in time. What’s more, their… Read More Tether Releases Attestation Report

Notes 5/9: Bittrex Buries the Baby, Bitcoin Price Falls

Crypto exchange Bittrex has decided to “bury the baby” after being charged by the Securities and Exchange Commission (SEC) last month for breaking securities rules even as it minted $1.3 billion in profit. The Seattle exchange filed for bankruptcy yesterday in Delaware. It listed 100,000 creditors and liabilities of between $500 million to $1 billion.… Read More Notes 5/9: Bittrex Buries the Baby, Bitcoin Price Falls

Notes 5/7: Minting Profits from Ethereum’s Problems, Bitcoin Price

The average price to commit a transaction on Ethereum shot up amid hysteria for a meme coin last week. It remains high, as of this writing. According to data from online publication The Block, the average transaction price on the world’s second biggest blockchain is $15.63, up from $9.52 a week earlier. The total number… Read More Notes 5/7: Minting Profits from Ethereum’s Problems, Bitcoin Price

Notes 4/29: Circle Cross Chain Transfer Protocol

Stablecoin issuer Circle made news at crypto shindig Consensus last week by announcing a Cross Chain Transfer Protocol (CCTP) to ensure “seamless liquidity” of their token USDC. In simple words, this means that the CCTP will enable USDC holders to move the token between different blockchains. According to the company, the CCTP is currently functional… Read More Notes 4/29: Circle Cross Chain Transfer Protocol

Notes 4/19: SEC Chief Gary Gensler’s Congressional Hearing

There was a thaw in the crypto winter yesterday, a glimmer of celebration, cloaked in schadenfreude, at the House Financial Services Committee hearing yesterday. Securities and Exchange Commission (SEC) Chairman Gary Gensler, sometimes referred to as crypto’s favorite whipping boy, testified before the committee yesterday. Crypto twitter cheered when a group of Republican Congressmen laid… Read More Notes 4/19: SEC Chief Gary Gensler’s Congressional Hearing

Notes 3/28: CFTC Lawsuit Against Binance, Staking Withdrawals, and Tron and Tether

What does the CFTC’s case against Binance mean for crypto’s future? Binance is the world’s biggest cryptocurrency exchange by trading volume. It is also home to the biggest trading volumes for bitcoin and ether, the world’s two biggest cryptocurrencies. But the announcement of a lawsuit against the company by the CFTC yesterday hardly dented bitcoin… Read More Notes 3/28: CFTC Lawsuit Against Binance, Staking Withdrawals, and Tron and Tether