Crypto Biz: Stablecoins wave, crypto trading via UAE banks, and more
This week’s Crypto Biz explores Tether’s profit record, bank-linked crypto trading in the United Arab Emirates, Polymarket’s growth amid US elections, and Coinbase custodian arm.
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Judge labels 2 obscure altcoins as commodities in $120M Ponzi case
An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities.
Nigeria’s SEC boss says crypto can aid 38M unbanked
Agama noted that cryptocurrencies like Bitcoin can greatly lower remittance costs, making it easier and cheaper for Nigerians abroad to send money home.
Bitcoin’s realized cap is now $43 billion above the 2017 all-time high
Bitcoin’s realized capitalization has soared above its 2017 record high, but Ethereum’s has struggled to reclaim its former highs Crypto market data aggregator Glassnode has published data indicating that Bitcoin’s (BTC) realized capitalization has increased by more than 50% since tagging its all-time high of $20,000 at the end of 2017.The realized capitalization metric measures…
Bitcoin leads crypto market recovery as regulators turn up heat: Report
March has been a turbulent month for the crypto industry. Bitcoin (BTC) recorded its highest weekly close in 10 months and raised hopes among many that the bear market is over. One of the key drivers of this expectation was a series of banking collapses in the United States. This made investors hope for falling…
Over 6,000 XRP holders volunteer as third party defendants in SEC lawsuit
XRP holders claim their interests aren't being represented in an ongoing SEC lawsuit against Ripple Labs. Now they want to enter the fray as third-party defendants. 510 Total views 5 Total shares XRP coin holders have attempted to insert themselves as third-party defendants in the United States Securities and Exchange Commission’s lawsuit against Ripple Labs.A…
Russians transact $5B in crypto each year, Bank of Russia says
Though Russia has become a global leader in the crypto market, the Bank of Russia is still skeptical about Bitcoin. 161 Total views 25 Total shares Russian people are among the world’s most active participants of the cryptocurrency market, according to the country’s central bank.The Bank of Russia published a fresh review on financial stability…
Major US Dairy Co-Op Pilots Blockchain Technology for Food Supply
Dairy Farmers of America (DFA), a U.S. national milk marketing cooperative, has teamed up with food fintech startup ripe.io to pilot a blockchain-powered project aimed at improving the food supply chain, according to an announcement published September 25.DFA is a cooperative owned by dairy farmer-members in 48 states, the net income of which totalled $127.4…
Malware exploits weak passwords in PostgreSQL for cryptojacking
Up to 800,000 internet-connected databases could be vulnerable to crypto-mining malware that will use their computing capacity.