Tarbert makes way for Biden’s CFTC chair, but will remain a commissioner

Heath Tarbert is no longer the chairman of the Commodity Futures Trading Commission, but he will remain one of its five commissioner In a CFTC announcement on Thursday afternoon, Tarbert followed through with his resignation, which he announced at the beginning of December. However, it was not clear at the time whether he would remain on the commission at all. Today’s announcement confirmed that Tarbert would stay on as a commissioner, with a term that formally expires on April 13, 2024. In listing accomplishments during his 18-month run as chairman of…

While China’s CBDC sets the pace, the yuan stumbles in usage abroad

Despite rapid advancement of a digital yuan, China’s progress in internationalizing its currency has stalled out in recent months.  Per data from SWIFT’s RMB Tracker released on Jan. 20, the Chinese yuan (CNY), also known as the Renminbi (RMB) had gained only .02% in international usage between December 2018 and last month. Meanwhile, it had fallen from 1.26% to 1.16% between November and December of 2020. Source: SWIFT While not a catastrophe, it’s nowhere near the numbers that China has become used to since making the internationalization of the RMB…

3 ways the next altcoin bull cycle will vastly differ from 2017’s

A recent report from CoinMetrics suggests that when a new altseason starts it will play out in a way that is vastly different from the market of 2017-2018.  According to the authors of the report, the arrival of institutional investors and their interest in Bitcoin (BTC) and Ether (ETH) has fundamentally shifted the cryptocurrency market landscape. Tokens with real world utility, Layer 2 technology or attractive staking ecosystems will outperform the large cap tokens from pre-2017. Bitcoin and Ethereum dominate but L2 tokens will catch up Institutional inflows firmly established…

Bitcoin whitepaper fight could end up in court as both parties escalate drama

The unfolding drama surrounding the ownership of the Bitcoin (BTC) whitepaper could very well make its way to the courts, after both sides embroiled in the dispute told Cointelegraph they’re ready to “go all the way.” On Jan. 21, the owners of two Bitcoin websites were threatened with legal action by lawyers representing Craig Wright, the man who claims to be Bitcoin inventor Satoshi Nakamoto. Wright claims to be the original copyright holder of the Bitcoin whitepaper, and demanded that both sites remove their locally hosted copies of the document…

As DeFi booms, Ethereum’s blockchain competitors are catching up

Ethereum is not the only blockchain platform seeing a significant increase in value as the decentralized finance space continues to move in tandem with the booming cryptocurrency ecosystem. The new year has continued to be good to the DeFi space, evident in the sheer amount of value that has been injected into various platforms. The value staked in DeFi protocols briefly surpassed $27 billion on Jan. 20, according to DappRadar, driven in part by the increase in value of a large majority of cryptocurrency tokens. Nevertheless, the space has seen…

Banks seem prone to cryptophobia despite growing adoption

From refusing to bank crypto trading desks to closing accounts held by platforms, the mainstream financial sector appears to be putting up roadblocks to seamless cryptocurrency commerce. Without banking support, exchanges are often forced to depend on other fiat on-ramps to service the deposit and withdrawal needs of their customers. The apparent discrimination against crypto exchanges also goes beyond the refusal of banking services. In countries such as South Korea, banks have increased the level of scrutiny involved in renewing operating licenses for platforms. The cost of compliance for these…

Is Bitcoin headed for a deeper correction? Watch these levels if $30K breaks

Bitcoin (BTC) has seen a massive surge in the past two months, in particular, as institutions jumped into the new asset class. The latest is Blackrock,  announcing interest in trading in Bitcoin futures while Grayscale continues to scoop up BTC at an accelerating pace.  Total amount of BTC held by Grayscale Bitcoin Trust. Source: CryptoQuant However, after a massive surge, the asset’s price has to come down for some tests of support as investors take profit. This is the beautiful cyclical nature of supply and demand. BTC/USD is currently in a…

Early Ether investor sells all his ETH, plans to buy parents a house

A Redditor named “u/FollowMe22”, 27, says he has finally sold off the last of his Ether (ETH) stash acquired back in 2016. According to the Reddit post, he began buying ETH back in 2016 when the price was slightly above $2, adding: “I put my whole tax return in 2016 and threw a couple hundred at it whenever I could. I didn’t buy a car and biked to work to save money. I remember at the time thinking there was about a 1/3 chance it would 100x, so there was…

Why secure data tokenization should scare the hell out of Big Data

Data is becoming one of society’s most valuable resources. And yet, our existing approaches fail to unleash its massive intrinsic value. Why is this the case? The issue is that our data — who we are, and what is relevant about us — is defined and collected by corporations and governments. Consumers were alarmed to find their ​phones were being tracked by the government​, for example. These organizations, whether private or governmental, seem interested primarily in using your personal identity and your data streams to enhance their power. If you…

Take ‘my’ Bitcoin whitepaper down or face lawsuit

Craig Wright, the Australian computer scientist who claims to be Bitcoin inventor Satoshi Nakamoto, has threatened legal action against the owners of two Bitcoin (BTC) websites whom he accused of stealing his whitepaper and other intellectual property. As announced on Jan. 21, Bitcoin.org along with another website, Bitcoincore.org, had received allegations of copyright infringement from Craig Wright’s lawyers. The counsel reportedly claimed that Wright, as Bitcoin inventor Satoshi Nakamoto, was the legal copyright holder of the Bitcoin whitepaper, that he owned the Bitcoin name and trademark, as well as the two websites listed…