Crypto Industry

Wall Street-Style Crypto Regulation Coming, Says Kraken Lawyer

Source Node: https://beincrypto.com/wall-street-style-crypto-regulation-coming-says-kraken-lawyer/
Time Stamp: September 24, 2021 6:45 AM - Modified On: September 24, 2021 - Published By:
Source Cluster:
Republished By Plato

The cryptocurrency industry should brace for ‘Wall Street-style’ regulation, according to Kraken Chief Legal Officer Marco Santori.Sponsored Sponsored “You’re just living in a fantasy world if you don’t believe that this industry is going to face heavier, more Wall Street-like regulation from governments in the U.S. and abroad, and Kraken has simply been practical about that future,” Santori told Bloomberg. Authorities have been cracking down on the cryptocurrency industry over the past few months, taking issue with everything from stablecoins to decentralized exchanges to lending products. As warnings mount from state

Trading Giant eToro Launches DeFi Portfolio

Source Node: https://beincrypto.com/etoro-launches-defi-portfolio/
Time Stamp: September 24, 2021 4:25 AM - Modified On: September 24, 2021 - Published By:
Source Cluster:
Republished By Plato

Multi-asset trading platform eToro has launched a portfolio offering clients exposure to decentralized finance (DeFi) projects.Sponsored Sponsored Announced on Sept 23, eToro’s “DeFiPortfolio” is an index-type investment comprised of 11 decentralized finance assets. These are Ethereum (ETH), Uniswap (UNI), Chainlink (LINK), Aave (AAVE), Compound (COMP), Yearn Finance (YFI), Decentraland (MANA), Polygon (MATIC), Algorand (ALGO), Basic Attention Token (BAT), and Maker (MKR).Sponsored Sponsored The new product offers an easy way to diversify and gain exposure to the decentralized finance ecosystem and automatically stay ahead of decentralized financial innovation through periodic rebalancing,

Coinbase won’t pursue its planned lending service, fears SEC scrutiny 

Source Node: https://bitcoinerx.com/blockchain/coinbase-wont-pursue-its-planned-lending-service-fears-sec-scrutiny/
Time Stamp: September 23, 2021 7:31 AM - Modified On: September 23, 2021 - Published By:
Source Cluster:
Republished By Plato

It appears that Coinbase would prefer to be on the safe side rather than dealing with U.S. Securities and Exchange Commission’s scrutiny and pressure.  In a blog that the crypto exchange has posted, it announced that it would no longer pursue its plans to roll out its “Lend” service, which is supposed to be a crypto-based lending service.  Lend was supposed to be a service that would pay users if they lend out their tokens, but the SEC has warned the company about the legal consequences of such service.  Showing

Crypto industry can grow to $15 trillion, former Binance.US CEO says 

Source Node: https://bitcoinerx.com/blockchain/crypto-industry-can-grow-to-15-trillion-former-binance-us-ceo-says/
Time Stamp: September 21, 2021 4:51 PM - Modified On: September 21, 2021 - Published By:
Source Cluster:
Republished By Plato

In the recently held SALT Conference, former Binance.US chief executive officer Brian Brooks said that the crypto industry could be a $15 trillion industry in the future. He added that with the current trend and phase of crypto adoption, this size is not an impossible feat.  The conference was attended by hedge fund managers and officials from banks, asset management companies, and compliance entities.  According to Brooks, the current size of the crypto industry has already reached $2 trillion, and while this may sound already huge, he said that this

Coinbase Files For Futures and Derivatives Trading

Source Node: https://beincrypto.com/coinbase-files-futures-derivatives-trading/
Time Stamp: September 16, 2021 2:44 AM - Modified On: September 16, 2021 - Published By:
Source Cluster:
Republished By Plato

North America’s largest crypto exchange Coinbase has taken the first steps in making an application to allow futures and derivatives products on the platform.Sponsored Sponsored On Sept 16, Coinbase stated that it had filed an application with the National Futures Association (NFA) to register as a Futures Commission Merchant (FCM). The exchange added that “this is the next step to broaden our offerings and offer futures and derivatives trading on our platforms,” in order to further expand the crypto economy.Sponsored Sponsored The NFA’s official website now lists Coinbase Global Inc.

Steve Cohen Invests in Crypto Trading Firm Radkl

Source Node: https://beincrypto.com/steve-cohen-invests-in-crypto-trading-firm-radkl/
Time Stamp: September 15, 2021 7:15 PM - Modified On: September 15, 2021 - Published By:
Source Cluster:
Republished By Plato

The hedge fund magnate and owner of the New York Mets continues his support, vocally and financially, for the crypto industry. Sponsored Sponsored Cryptocurrency trading frim Radkl has secured a high-profile investor in Steve Cohen. Cohen has invested an undisclosed about of financial support for the new firm, which launched on Tuesday. According to the Wall Street Journal Cohen is investing with his personal assets rather than using capital from his Point72 Asset Management LP.  According to a spokesperson from Radkl, Cohen “won’t be involved in Radkl’s day-to-day operations.” The move

Head of Australian Crypto Exchange Says Regulations Are Beneficial

Source Node: https://beincrypto.com/head-of-australian-crypto-exchange-says-regulations-are-beneficial/
Time Stamp: September 15, 2021 6:45 PM - Modified On: September 15, 2021 - Published By:
Source Cluster:
Republished By Plato

The head of the popular Australian cryptocurrency exchange BTC Markets says crypto regulations provide benefits to the industry. Sponsored Sponsored In the global race for cryptocurrency adoption, regulations, and innovation Australia seeks its own piece of the action. According to the CEO of the country’s largest crypto exchange the country could get left behind without proper action.  Caroline Bowler is CEO of the exchange BTC Market. In an interview with Bloomberg she said it would be a “real shame for Australia if we don’t take this bull by the horns.”Sponsored Sponsored

Trader Joe Raises $5M for DeFi on Avalanche

Source Node: https://beincrypto.com/trader-joe-raises-5m-defi-avalanche/
Time Stamp: September 3, 2021 2:01 AM - Modified On: September 3, 2021 - Published By:
Source Cluster:
Republished By Plato

Avalanche-based decentralized finance (DeFi) platform Trader Joe has become the latest to secure a round of funding from venture capital giants.Sponsored Sponsored In an announcement on Sept 2, the DeFi trading platform revealed that it raised $5 million in a strategic sale led by Defiance Capital, GBV Capital, and Mechanism Capital. Several other venture capital firms, angel investors, and industry leaders including Three Arrows Capital, Coin98 Ventures, Delphi Digital, Avalanche Foundation, and Aave founder Stani Kulechov, also contributed. Trader Joe plans to expand its team with the cash injection and

Ethereum Issuance Drops Below Bitcoin’s For the First Time, Why This May Lead to a New Rally

Source Node: https://www.newsbtc.com/news/ethereum/ethereum-issue-drops-below-bitcoin/
Time Stamp: August 28, 2021 2:00 PM - Modified On: August 28, 2021 - Published By:
Source Cluster:
Republished By Plato

Ethereum has been on a rally for the past week, moving from a two-month low at $1,700 to its current level at $3,223. Several factors have pushed the crypto market into a new rally, but most seem to gravitate around ETH and its ecosystem. ETH moves sideways into the weekend on the 24-hour chart. Source: ETHUSD Tradingview After the implementation of EIP-1559, Ethereum’s native token became a deflationary asset due to the change in its fee mechanism. To validate transactions on the network a portion of ETH is “burn”, meaning

Axie Infinity Maker Reminds Players to Pay Taxes

Source Node: https://thedefiant.io/axie-taxes/?utm_source=rss&utm_medium=rss&utm_campaign=axie-taxes
Time Stamp: August 27, 2021 3:35 PM - Modified On: August 27, 2021 - Published By:
Source Cluster:
Republished By Plato

Axie Infinity, the gigantically popular play-to-earn game in the style of Pokemon, is helping gamers supplement their incomes and even make a living. Now the maker of the game and regulators are reminding users internet money will not free them from the tax man.  That seems to be the message behind a tweet from Sky Mavis, the company that makes the Axie universe, in which it wrote, “Sky Mavis encourages Axie community members to abide by the laws of their home countries.”The comment was posted shortly after a report in the

Ethereum EIP-1559 Upgrade Adopted 34x Faster than Bitcoin Segwit

Source Node: https://beincrypto.com/ethereum-eip-1559-upgrade-adopted-34x-faster-bitcoins-segwit/
Time Stamp: August 27, 2021 2:11 AM - Modified On: August 27, 2021 - Published By:
Source Cluster:
Republished By Plato

The adoption of the latest Ethereum upgrade appears to have outpaced that of Bitcoin’s Segwit by multiple factors.Sponsored Sponsored It has been a little over three weeks since Ethereum’s London upgrade was deployed on Aug 5. In that short time, it has seen rapid adoption according to Yearn Finance developer “banteg.” In a tweet on Aug 27, the developer stated that Bitcoin’s SegWit upgrade went live four years ago on Aug 25, 2017, adding that it is currently used for about 80% of BTC transactions.Sponsored Sponsored He compared that to