Grayscale Follows Tesla by Splitting Ethereum Shares

Key Takeaways Grayscale has announced plans to split its Ethereum shares (ETHE) later in the month. This will create eight shares for each currently held share. In traditional equities, this sort of split is often seen as bullish. Share this article Crypto investment firm Grayscale has announced a share split of its Ethereum Trust Fund (ETHE), offering eight additional shares for each share currently held by shareholders. Split Will Occur in Mid-December Beginning Dec. 17, the outstanding number of shares for Grayscale’s Ethereum Trust will increase from 29.5 million to…

US lawmakers seek to make stablecoins illegal without federal approval

A new bill, introduced to US Congress on Wednesday night, could enforce blanket regulation on all stablecoins. If passed, any service provided in relation to these types of cryptocurrencies would become illegal without first receiving approval by multiple government bodies: “It shall be unlawful for any person to issue a stablecoin or stablecoin-related product, to provide any stablecoin-related service, or otherwise engage in any stablecoin-related commercial activity, including activity involving stablecoins issued by other persons, without obtaining written approval in advance, and on an ongoing basis, from the appropriate Federal…

OKEx Promises Secure Private Key Backups

Key Takeaways OKEx has published new rules on how it will manage the private keys of its multi-signature crypto wallets.  The exchange’s wallet keys will be backed up, but stored in isolation to prevent abuse of privileges. The decision is a response to OKEx’s October key loss. Share this article OKEx CEO Jay Hao has announced that the exchange is making its fund storage methods more secure. Hao broadcast his statement on Telegram, which was later posted to OKEx’s website. OKEx Responds to October Incident On Oct. 16, OKex announced…

China’s CBDC may hurt Macau’s casinos

China’s central bank digital currency is expected to further exacerbate Macau’s declining gambling revenues. According to a Dec. 2 article from Bloomberg, junkets — Macau businesses that act as middlemen to facilitate visits by China’s high-roller gamblers — claim their clients are looking to other jurisdictions due to concerns the digital yuan will be introduced to Macau’s embattled gambling sector. The report cites anonymous sources who claim local casino operators have been approached by Macau’s Gaming Inspection and Coordination Bureau to discuss the viability of denominating casino chip purchases in…

‘New rules’ for SEC could follow example set by Wyoming, says Hester Peirce

Hester Peirce, commissioner for the United States Securities and Exchange Commission and best known by the affectionate nickname “Crypto Mom,” says the regulator may not be able to get by if it simply incorporatesng digital assets into its existing regulatory framework. In an interview with Santander Bank Managing Director John Whelan for the ‘Ethereum in the Enterprise – Asia Pacific’ online conference today, Peirce said the SEC could learn from other approaches on regulating crypto, specifically citing Wyoming as an “extremely progressive” regulator. The state’s banking board approved charters for…

‘You might get fired if you don’t own Bitcoin’: CoinShares on CNBC

CoinShares chair and former JP Morgan commodity trader Danny Masters told CNBC that the financial landscape has changed to the point where not having exposure to Bitcoin could be a riskier move for portfolio managers than investing in it.  Interviewed on Power Lunch, the head of the digital asset management firm referred to the fact that in the past it was seen as risky for asset managers working in institutions to put money into Bitcoin. But he claimed that the “perceived career-risk for having Bitcoin in your institutional portfolio, as…

Jealous brother claims twin earned $10M in Bitcoin

Many late adopters of Bitcoin often lament the fact they missed out on the chance to purchase coins when the price was under $1,000, $100, or even $1. However, one Redditor says his own situation is even worse as he’s forced to compare his “dumb” decision to invest in silver against his twin brother’s much wiser decision to back Bitcoin.  The story — which may be apocryphal given the source is a throwaway account named “TheDumbTwin” — claims the two brothers each received a $100,000 inheritance in 2013 but took…

Bitcoin price consolidates as traders contest the $18.2K to $19.5K range

After an impressive run to a new all-time high on Dec.1, Bitcoin (BTC) price appears to have entered a short consolidation phase as the price ranges between $18,200 and $19,500.  The 1 and 4-hour charts show the price compressing into a pennant-like structure and break out from the pattern would likely see the price move to the $19,400 level where is a bit more resistance. BTC/USDT 4-hour chart. Source: TradingView A breakthrough the pennant would also suggest that the $19,000 level could now function as solid support and if bulls…

Ampleforth Makes Surprise Expansion Beyond Ethereum

Key Takeaways Ampleforth is set to launch on Polkadot, NEAR, and TRON. It will also continue to run on Ethereum. This makes AMPL a blockchain-agnostic cryptocurrency. The announcement comes as Ethereum attempts to solve its congestion issues and high transaction costs. Share this article Ampleforth will bring its Ethereum-based stablecoin to three other blockchains, according to an announcement from the team. AMPL to Expand Within Months Within the next few months, the AMPL token will be available on NEAR, TRON, and Polkadot’s Alcala parachain. Though Ampleforth will still be available…

Million-dollar startup taps Algorand to fight climate change

Blockchain marketplace Climatetrade will be building its new CO2 carbon offsetting platform on Algorand, a top-50 cryptocurrency project that is gunning for scalability and transactional performance.  Climatetrade announced Wednesday that it has selected the Algorand blockchain to power its carbon offsetting marketplace, which is designed to help organizations achieve CO2 neutrality — a key pillar in the fight against climate change. Climatetrade is building on Algorand for its “flexible architecture, low transaction fees and scalability of transactional performance,” according to CEO Francisco Benedito. Algorand is the 49th largest cryptocurrency project…