Ether, altcoins dive double digits as Trump tariffs take further toll

This week’s Crypto Biz explores Kraken’s stablecoin plans in Europe, the departure of Grayscale’s CEO, Prometheum’s Ether custody service that treats ETH as a security, and more.

The movement of more than $1.7 billion in “dormant” Bitcoin could lead to downward pressure on Bitcoin in the coming weeks, according to an onchain analyst.

The Massachusetts-based crypto market research firm Coin Metrics says that 318 addresses hold at least $1 million worth of Tether (USDT), comprising 80% of the global Tether supply.Bloomberg reported the company’s finding in a report on Aug. 7. Coin Metrics co-founder Nic Carter additionally mentioned that some of the USDT whales include major crypto exchanges,…

Near Protocol (NEAR) is a smart contract platform that uses parallel processing to scale the network. This technique, known as sharding, resembles what Eth2 is aiming to achieve and Near’s proof-of-stake consensus mechanism also allows token holders to stake their coins. In the past month, NEAR has rallied by 107% and this raises questions on whether…

The court filing from Hermès on Friday stated that Rothschild had continued to promote his NFTs even after a nine-member jury found Rothschild liable for trademark infringement, trademark dilution, and “cybersquatting.” 439 Total views 12 Total shares Own this piece of history Collect this article as an NFTHermès International, the French luxury fashion house, has…

Gary Gensler cited the “Wild West of the crypto markets” that was “rife with noncompliance” in requesting more than $2.4 billion for the commission’s 2024 fiscal budget. 286 Total views 16 Total shares United States Securities and Exchange Commission (SEC) Chair Gary Gensler has called for “new tools, expertise, and resources” aimed at addressing misconduct…