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Bitcoin topped $50k for the first time since 2021
The Presidential and Vice Presidential Election and Recall Act specifically prohibits gambling on elections.
The U.S. exchange had formally petitioned the agency to start writing comprehensive crypto rules, but after "careful" consideration, the SEC said no.
The firm's executives were arrested last month on multiple charges.
Stablecoins' widespread usage and frequent instability could reduce the effectiveness of central bank monetary policies, Rhee Chang-yong said.
Member of Parliament Natalie Elphicke also announced that the parliamentary group she chairs will be hosting industry round tables and a call for evidence.
Legislation will crack down on terrorist organizations like Hamas by applying sanctions to foreign parties that facilitate financial transactions with terrorists.
The military-linked bill is viewed as must-pass legislation, so lawmakers sometimes try to tack on other things to get them passed, too.
Binance determined the application was not necessary "when assessing [its] global needs." The move is unrelated to the exchange's legal settlement in the U.S.
The Financial Conduct Authority (FCA) is currently exploring whether it could determine money laundering registration applications more quickly for firms already authorized, the report said.
- 21:12Grayscale Report: Ethereum Price Surge Driven by Anticipated Dencun UpgradeA new report from Grayscale Investments, a digital asset management firm, highlights that the recent price surge of Ethereum is attributed to market expectations surrounding the upcoming Dencun upgrade. The upgrade, scheduled for March 13, 2024, is expected to enhance Ethereum's scalability, making it more competitive, particularly in comparison to faster blockchains like Solana. The report also mentions optimistic prospects for Ethereum, including factors such as net deflationary supply and network revenue generation, as well as the potential to capture more smart contract applications. Grayscale Investments is also seeking approval from the U.S. Securities and Exchange Commission (SEC) to convert its Ethereum Trust into a spot Ethereum ETF. The recent approval of spot Bitcoin ETFs by the SEC in the past few months has increased market optimism, leading to similar expectations for Ethereum financial instruments. Overall, the report emphasizes the significance of the upcoming Ethereum upgrade and the potential impact it may have on the cryptocurrency market performance and the competitiveness of the smart contract ecosystem.
- 20:42Ethena Secures 5% of Ethereum Perpetual Futures Open Interest, Founder Downplays ConcernsRecent data reveals that Ethena, a recently launched protocol, holds 5% of all open interest in Ethereum perpetual futures. Analysts have noted that rapid growth comes with increased risks. However, the founder of Ethena Labs, known as Leptokurtic, has downplayed concerns, stating that self-correcting market mechanisms can mitigate risks. Leptokurtic explains that if the yield on USDe (Ethena's stablecoin) significantly drops, the self-correcting mechanism comes into play. In such a scenario, market participants would choose to no longer collateralize USDe. He further explains that if they do so, the funding rate would return to a new equilibrium.
- 20:41Smart Money Profits $10.66 Million in 4 Months by Buying Low and Selling High on ETHAccording to monitoring data from Lookonchain, a smart money address sold 7,425 ETH (worth $21.8 million) at a price of $2,937 per ETH, generating a profit of approximately $10.66 million. This address had bought 9,217 ETH (worth $17.2 million) between October 21st and November 22nd, 2023, at a price of $1,863 per ETH. They then sold it between January 10th and January 13th, 2024, at a price of $2,442 per ETH, earning around $5.34 million in profit. On January 26th, they bought 7,429 ETH (worth $16.5 million) at a price of $2,219 per ETH and sold it 9 hours ago at a price of $2,937 per ETH, making a profit of around $5.32 million.