Stablecoin Reserves Need to Be Diverse, EU Bank Agency Chief Says
The bloc’s Markets in Crypto Assets rules, known as MiCA, are set to take effect as of 2024, but crypto market players should start adjusting their operations now, said José Manuel Campa, whose agency will play a key role in its implementation by drafting subsidiary legislation.
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Safemoon Hacker Strikes Deal With Developers to Return $7.1M
Featured SpeakerBowTiedBullPresidentBowTied JungleThe pseudonymous investor BowtiedBull explores the BowtiedJungle, where citizens swap advice on investing, job-seeking, ...Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.Featured SpeakerBowTiedBullPresidentBowTied JungleThe pseudonymous investor BowtiedBull explores the BowtiedJungle, where citizens swap advice on investing, job-seeking, ...A hacker who exploited decentralized-finance protocol Safemoon…

Alibaba Denies ‘Partnership’ With Lolli, Highlighting Crypto Industry Pitfalls
news On Monday, CoinDesk reported the shopping app Lolli was offering bitcoin rewards to U.S.-based Alibaba shoppers for Singles Day. Alibaba Group representatives have since denied the “partnership” touted by Lolli CEO Alex Adelman. The fissure revealed a common misconception in the blockchain industry. “One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate…

People in US Trust Bitcoin More Than Facebook’s Libra: Report
news Compared with bitcoin, people in the U.S. don’t trust Facebook’s anticipated new stablecoin Libra, according to a new survey. In the poll of 1,799 U.S. adults carried out since Facebook’s white paper launch in mid-June, consumer insights provider CivicScience found that, of those that expressed a view, just 2 percent felt they would trust Libra…

Numerai Token Sale Raises $11 Million From VC Firms Paradigm, Placeholder
feature Few companies in 2019 have managed to attract venture capitalists to private token sales without giving up equity. Yet the hedge fund and predictions market startup Numerai just closed an $11 million round in March led by Paradigm and Placeholder strictly by selling NMR tokens, first launched through an airdrop in 2017. According to…

Binance Announces Exit from Canada, Citing Regulatory Tensions
Tracy is a deputy managing editor at CoinDesk. She owns BTC, ETH, MINA, ENS and some NFTs. Crypto exchange Binance has announced that it would cease operations in Canada, citing the challenging regulatory environment.“We had high hopes for the rest of the Canadian blockchain industry,” the company said in a Friday tweet. “Unfortunately, new guidance…

Is Sam Bankman-Fried Going to Jail?
Federal prosecutors said they were “seeking detention” for Sam Bankman-Fried, asking a judge to revoke his bond after he shared documents with the New York Times that they allege were meant to harass a fellow executive from the FTX empire and potentially influence her testimony.You’re reading State of Crypto, a CoinDesk newsletter looking at the…

Ethereum Validators Forced to Wait Days to Unstake Amid Celsius Withdraws
Ethereum's validators are stuck waiting several days to withdraw their staked ether (ETH), and the defunct crypto lender Celsius may be partially to blame for the backlog.Validators stake ETH to help secure the Ethereum network in exchange for a steady rate of interest, but there is a cap to the number of validators that can

Dash Core Group to Lay Off Staff in ‘Crypto Winter’ Cost-Cutting Effort
news The company behind cryptocurrency project Dash is to reduce its staffing levels in a cost-cutting effort brought on by the “crypto winter.” Dash Core Group (DCG) CEO Ryan Taylor announced late last month that the firm has decided to lay off four employees across several business areas – eight percent of its staff –…