Institutional customers storing Bitcoin and other digital assets in GK8’s cold vault will receive up to $1 billion in insurance coverage. Digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policy for institutional customers — a move the company said would incentivize banks and other financial institutions to start...Continue Reading

Bitcoin whales and market makers continue to add to their leverage long positions, even though it’s unclear whether $15,500 was the final bottom. Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls’ hope that the 7%...Continue Reading

Some illiquid altcoins will have their borrow limit reduced by upwards of 99%. On Nov. 28, users of decentralized finance, or DeFi, lending platform Compound Finance passed a proposal to impose restrictions on the maximum borrowing of 10 tokens on the protocol. The proposal was put forth by financial modeling firm Gauntlet and passed with...Continue Reading

The House event, titled “Investigating the Collapse of FTX,” will follow a similar hearing in the Senate Agriculture Committee scheduled for Dec. 1. The United States House Financial Services Committee has announced it will be holding a hearing to investigate the events around the collapse of crypto exchange FTX. In a Nov. 28 announcement, House...Continue Reading

Staking infrastructure firm Kiln has closed a $17.8 million fundraising round led by the likes of Consensys, GSR and Kraken Ventures. Staking technology provider Kiln has closed out a $17.8 million fundraising round featuring the likes of Consensys and Kraken Ventures. The company is eyeing ‘exponential’ growth in demand for ETH staking services from institutional...Continue Reading

“It’s net good news for GBTC shareholders and FUD fighting,” said Selkis. According to a new Twitter post by Ryan Selkis, CEO of blockchain research firm Messari, Grayscale Bitcoin Trust’s (GBTC) controlling shareholders Genesis Global and Digital Currency Group cannot simply “dump” their holdings to raise more capital. Selkis explained that the restrictions are due...Continue Reading

About 72.43% of the community votes went against CoinShares’ proposal to invest MakerDAO’s funds into various traditional assets Decentralized lending protocol, MakerDAO, has voted against crypto investment firm CoinShares’ proposal to invest between 100million and 500million worth of the community’s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an...Continue Reading

Turmoil in China, concerns over the global economy and BlockFi’s bankruptcy filing are all weighing on crypto markets this week. China witnessed a spike in Covid cases and that has resulted in strict lockdown restrictions in several parts of the country. This triggered widespread protests in China and has possibly pulled the global stock markets...Continue Reading

The U.S.-based crypto exchange agreed to pay more than $362,000 as part of a deal “to settle its potential civil liability” related to violating sanctions against Iran. The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, has announced a settlement with crypto exchange Kraken for “apparent violations of sanctions against Iran.” In...Continue Reading

“The use of the designation “VERSE” constitutes an infringement of our client’s trademarks under German trademark law,” Block’s legal counsel said in a letter to Bitcoin.com. Digital payments company Block Inc. is pursuing legal action against Roger Ver’s Bitcoin.com over alleged trademark infringement involving its newly launched Verse token, which concluded a $33.6 million private...Continue Reading