Author: Coindesk
OKX, the world’s second-largest cryptocurrency exchange, plans to make the Mediterranean island of Malta its European hub and base for compliance with the newly arrived Markets in Crypto assets (MiCA) regulatory framework, according to two people familiar with the matter. Read the full article here
The judge took specific issue with Coinbase requesting documents from Gensler predating his term as chair of the regulatory agency. Kevin Schwartz, an attorney with Wachtell, Lipton, Rosen & Katz representing Coinbase, said the agency has refused to even discuss the totality of the documents Coinbase might have, but that Gensler’s communications were relevant to the case. Read the full article here
“Right now, the biggest risk we see to crypto assets is the risk that highly overbought U.S. equities could be on the verge of rolling over,” Kruger said. “The correlation isn’t absolute by any means, but there is evidence that would suggest a sharp pullback in stocks could weigh on crypto, at least for a moment.” Read the full article here
The committee also heard testimony Thursday from Christy Goldsmith Romero, the member of the Commodity Futures Trading Commission (CFTC) who President Joe Biden tapped to chair the Federal Deposit Insurance Corp.; Kristin Johnson, another CFTC commissioner, to be the Treasury Department’s assistant secretary for financial institutions; and Hawaii Insurance Commissioner Gordon Ito to be a Member of the Financial Stability Oversight Council. Read the full article here
“Today, many people use manual spreadsheets and need to open multiple browser tabs to track their assets holistically,” Coinbase said in a statement. “Many people also manage several crypto wallets, and until now, achieving a comprehensive view of all their assets in one place has been a challenge.” Read the full article here
Until regulatory clarity is achieved, advisors should document consideration of the uncertainty, market volatility and investment basics in minuted investment committee meetings. Drawing from traditional finance experiences with illiquid assets during the 2008 credit crisis, advisors can demonstrate their fiduciary duty even in the face of uncertainty. In 2008, it was unclear how to meet fiduciary obligations for valuation; however, many met these with: Read the full article here
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Penver was previously CFO of data center service provider TSS (TSSI) and has more than 18 years of data center technology and infrastructure experience, the miner said in a statement on Thursday. “As CFO, Mr. Penver will focus on driving the [public] listing process for Ionic Digital, overseeing the company’s financial operations, including financial planning, analysis, and reporting,” according to the statement. Read the full article here
Bitcoin (BTC) held its $58,000 price level throughout the European morning before a U.S. inflation report due at 8:30 ET (12:30 UTC). Following a dip toward $57,000 at about 3:30 UTC, BTC is sitting around $58,400 at the time of writing, down 0.34% in the last 24 hours. The CoinDesk 20 Index, which offers a measurement of the broader digital asset market, has risen around 0.2%, suggesting traders are sitting on their hands waiting for the CPI report, which will offer the latest indication on the prospect of a cut to interest rates. Read the full article here
The speculation index, which measures the percentage of alternative cryptocurrencies (altcoins) with 90-day returns greater than bitcoin, has stabilized below 10%, down significantly from the January high of nearly 60%. Bitcoin, the leading cryptocurrency by market, hit new record highs above $70,000 in the first quarter and has since cooled to $58,000. Read the full article here