Top traders’ long-to-short ratio and stronger demand for stablecoins in Asia indicate higher odds of further price correction. Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to the $18,370 peak on...Continue Reading

Congress is set to take up a slew of legislative proposals in 2023 that will determine which regulators have chief domain over cryptocurrency. It would be ideal for the industry for Congress to weigh in on its fate rather than leaving it to unelected regulators at the Securities and Exchange Commission (SEC). To that end,...Continue Reading

According to the CEO of Nillion, “decentralization is a spectrum with multiple axes.” Decentralization via blockchain technology has given rise to several applications such as cryptocurrency, nonfungible tokens (NFTs), decentralized autonomous organizations (DAOs), decentralized finance (DeFi), and many more use cases. However, the future of decentralization may very well extend beyond blockchain technology. Nillion, an internet infrastructure...Continue Reading

Under the proposed bill, companies could apply for an “enforceable compliance agreement” with offices at federal financial agencies that would allow for a regulatory path forward. North Carolina Representative Patrick McHenry, the current ranking member of the House Financial Services Committee and chair starting in January, has reintroduced legislation aimed at creating innovation offices within...Continue Reading

The entrepreneur reportedly reconsidered his earlier decision to contest extradition and now would be able to appear in a United States court. Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation. The FTX drama escalated last week when the Royal Bahamas Police Force arrested its former CEO,...Continue Reading

Lord Johnson of Marylebone reportedly took up a role on the U.K. advisory board of one of Binance’s subsidiaries in September. Jo Johnson, the brother of former United Kingdom prime minister Boris Johnson, has reportedly stepped down from his role as an adviser to Binance, according to a report by the U.K.’s Telegraph.  According to...Continue Reading

This is the third licensed Asian cryptocurrency exchange Binance has bought this year as it expands its global reach; the company had shown signs of struggling. Binance has acquired Indonesian crypto asset trader Tokocrypto, according to local reports on Dec. 19. The purchase was confirmed in a tweet by Binance CEO Changpeng Zhao (CZ), who...Continue Reading

Authorities in the Bahamas have had the former FTX CEO in custody since Dec. 12, shortly before he was denied bail. Former FTX chief executive officer Sam Bankman-Fried, who is currently facing multiple charges related to wire fraud and securities fraud, reportedly said he wanted to see the indictment against him before agreeing to extradition...Continue Reading

The proposed offer would require both SEC relief and shareholders’ approval. According to an end-of-year letter to investors published on Dec. 10, Grayscale Investments’ CEO Michael Sonnenshein said that the firm may consider “a tender offer for a portion of the outstanding shares of GBTC [Grayscale Bitcoin Trust]” if the latter’s exchange-traded fund conversion process...Continue Reading

Bitcoin does not look good when it comes to sustained BTC price upside, traders warn, as GBTC reaches a fresh record discount. Bitcoin (BTC) stayed rigid below $17,000 at the Dec. 19 Wall Street open as skeptical traders feared more downside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC traders call time on upside potential...Continue Reading