A draft proposal from House Republicans takes a different approach to tackling the thorny issue of whether crypto assets are commodities or securities.
Some Atomic Wallet users have reported losing their entire crypto portfolios following an exploit. ZachXBT estimates the losses to be over $35 million.
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner, chop it up about the latest news. In this episode, the gang answers audience questions, digs into the discourse around rollups, and debates whether modular blockchains will vanquish existing monoliths.
🌪️ The Blockchain Association submitted an amicus brief in Coin Center's lawsuit against the U.S. Treasury, supporting the argument that regulatory measures should target misconduct, and not a tool such as Tornado Cash.
📄 The now-defunct crypto hedge fund Three Arrows Capital (3AC) requested participation in the bankruptcy mediation of Genesis Global, citing over $1 billion in claims made prior to Genesis' bankruptcy.
💻 Marathon Digital Holdings increased its Bitcoin production by 77% in May, hitting 1,245 Bitcoins, largely facilitated by the enhanced performance of its own software.
🪙 Currently, Bitcoin's annualized volatility is at a 32% rate, making it less volatile than tech giant shares like Amazon and Meta, despite its historically high average volatility of 71%.
💰The Central Bank of Kenya expressed ambivalence toward launching a Central Bank Digital Currency (CBDC), suggesting that existing payment system challenges could be solved through current ecosystem innovations.
⛏️ Matrixport reported that Bitcoin miners might be selling their newly minted bitcoin due to squeezed profit margins and rising mining difficulty, thereby contributing to the selling pressure at the $28,000 level.
Today in Crypto Adoption...
💻 JPMorgan and six Indian banks will collaborate to settle interbank dollar transactions on the Onyx blockchain platform, aiming to achieve real-time, round-the-clock settlement instead of the current days-long process.
💼 Taurus, a digital asset infrastructure provider backed by Credit Suisse and Deutsche Bank, is now deployed on the Ethereum scaling network Polygon, intending to enable financial institutions and corporations to tokenize assets.
🇧🇷 Mercado Bitcoin, Brazil's leading cryptocurrency exchange, secured a license from the country's central bank to function as a payment institution, opening new avenues in traditional financial services.
🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.
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