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“# Senate Banking Committee chair seeks information from stablecoin issuers and exchanges, suggesting possible hearing ” Sherrod Brown, the chair of the Senate Committee on Banking, Housing and Urban Affairs, has called on several crypto firms to release information related to consumer and investor protection on stablecoins. According to a Nov. 23 announcement, Brown sent…
“# Total crypto market cap drops by 6.7%, but futures data finds a silver lining ” Looking at the past seven days of winners and losers might give one the impression that cryptocurrency markets are net positive. Still, total market capitalization actually fell by 6.7% to $2.72 trillion as Bitcoin’s (BTC) price retraced 8.3% to…
“# 3 reasons why Bitcoin’s drop to $56.5K may have been the local bottom ” The first rule of Bitcoin (BTC) trading should be “expect the unexpected.” In just the past year alone, there have been five instances of 20% or higher daily gains, as well as five intraday 18% drawdowns. Truth to be told,…
“# Tether launches Synonym to boost Bitcoin adoption through Lightning Network ” Synonym Software Ltd., a company founded by stablecoin issuer Tether Holdings Limited, officially launched on Tuesday, setting in motion a highly ambitious project to bring Bitcoin (BTC) transactions mainstream through an independent financial platform that utilizes the Lightning Network. Synonym’s stated goal is…
“# Two firms account for the majority of Tether received: Report ” Tether (USDT) has gone from being a renegade cryptocurrency to becoming the industry’s primary crutch during the last seven years, according to a new report. Essentially, USDT is a bridge between traditional currencies like the U.S. dollar and decentralized digital currencies operating on…
“# Solana surpasses Cardano, Tether to become fourth-biggest crypto worth $76 billion ” Solana (SOL) surpassed Cardano (ADA) and leading stablecoin Tether (USDT) to become the fourth-largest cryptocurrency by market capitalization. At press time, the net worth of total SOL tokens in circulation was a little over $76 billion, falling only behind Binance Coin’s (BNB)…
“# Crypto exchange Bitfinex testing new AML compliance tool ” Cryptocurrency exchanges Bitfinex is preparing to test out a new Anti-Money Laundering (AML) tool on its platform. The firm announced Wednesday that it will be testing a new solution designed for complying with the “Travel Rule,” an AML/Counter Financing of Terrorism regulation for financial institutions introduced…
“# Shiba Inu risks drop with SHIB’s 574% October’s price rally near exhaustion ” Shiba Inu (SHIB) may see a pullback by almost 25%-35% on fears that the cryptocurrency’s excessive price rally in October has left it overvalued, a key indicator shows. Dubbed Relative Strength Index (RSI), the indicator measures the magnitude of an instrument’s…
“# Tether trials Notabene’s new travel rule technology to combat financial crimes ” Tether Operations Limited, the firm operating the Tether (USDT)-centric platform tether.to, announced today that it will use Notabene, an end-to-end solution for cryptocurrency Travel Rule compliance. Tether will begin testing Notabene’s cross-border transaction monitoring system for virtual asset service providers (VASPs) to…
“# Following Bitcoin’s all-time high, DeFi TVL hits a record high above $233B ” Bullish sentiment is running high across the cryptocurrency market on Oct. 20 as Bitcoin’s (BTC) surge to a new all-time high at $67,000 thrust the digital asset into uncharted territory and investors are closely watching to see how altcoins and DeFi…