Cryptocurrency Analysis and News Portal
By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). As Bitcoin consolidates around $24,000, there have been progressive advancements with crypto regulation globally. Firstly,
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On Feb. 22, cryptocurrency exchange MEXC Global released its proof-of-reserves (PoR) snapshot after 45 days of testing. In a document seen by Cointelegraph, MEXC claimed its reserve ratios for Tether (USDT), USD Coin (USDC), Bitcoin (BTC), and Ethereum (ETH) were 120.70%, 240.18%, 116.50%, and 110.53%, respectively via the Merke Tree
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The regulations could also include required provisions on Bitcoin, stablecoins, and other crypto assets. The European Union (EU) Executive is calling for accelerated implementation of strict crypto capital rules for financial institutions with crypto assets in the awaiting banking law. The executive emphasized the approaching deadline agreed upon, adding that Europe
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The Financial Stability Board's recommendations for regulating crypto and stablecoins are set to be released in July 2023. Original Source
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"The variance between the first half of the year and the second highlights the rapid shift in investor sentiment," said Anton Ruddenklau, Global Head of Financial Services Innovation and Fintech, KPMG International. "But the news wasn't all negative. Regtech, in particular, saw incredible investment in 2022." Source
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Decentralized finance “does not differ substantially” from traditional finance in its functions or vulnerabilities, according to the Financial Stability Board. Source
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Crypto trading firm Auros Global, a victim of crypto exchange FTX’s bankruptcy, has reached a resolution to restructure its distressed debt on blockchain-based lending protocol Maple Finance, its primary creditor, M11 Credit, said in a statement on Wednesday. Source
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In the largest BUSD pool on decentralized finance (DeFi) protocol Curve, where traders can swap between stablecoins, traders almost depleted the USDT, USDC and DAI liquidity. Now, 85% of the pool’s liquidity is BUSD, making it difficult for traders to exchange large amounts of BUSD, and forcing sellers to accept
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The more than 40 entities that have signed the petition at publication time are requesting Turkish authorities to create "official crypto asset wallets and share them through official channels" – in the same way that Ukraine did shortly after the war started in February 2022 – to avoid "malicious aid
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When the financial system or the economy as a whole undergoes a rapid and large decline, it is said to be in a financial crisis. Financial assets like stocks, bonds, and real estate often see a sharp and significant decline in value during financial crises. They can also be identified
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