Coinbase eyeing offshore exchange to escape US regulatory pressure
Coinbase eyeing offshore exchange to escape US regulatory pressureCoinbase is subjected to higher standards of regulatory oversight than many of its rivals who are based offshore.
Happy FridayThe global crypto market cap is $1.13 trillion with a 24-hour volume of $86.97 billion. The price of Bitcoin is $26,564.13 and BTC market dominance is 45.4%. The price of Ethereum is $1,726.42 and ETH market dominance is 18.7%. The best performing cryptoasset sector is Yield Farming, which gained 10%.
Latest NewsCoinbase eyeing offshore exchange to escape US regulatory pressure
Coinbase is subjected to higher standards of regulatory oversight than many of its rivals who are based offshore. Binance removes BUSD from SAFU fund — adds TUSD, USDTBinance said the move was necessary following Paxos' decision to stop minting BUSD — which will result in a gradual market cap reduction. Belgian foreign minister calls for crypto banThe comments come after a special Basel Committee on banking has recommended that banks develop protocols for holding stablecoins and crypto. US Banks borrow record-high $164.8B from Fed backstop facilitiesMeanwhile, Circle's USDC stablecoin maintains $1 peg despite recent banking contagion and widespread fear in the banking sector. BlockDown Festival announces Portugal as its next location for huge Web3 culture festivalThe Web3 experience of BlockDown Festival is back and continues across Europe to Algarve, Portugal, on July 10-12, 2023, leading the way in merging the physical and virtual worlds. Ethereum founder urges self-custody – recommends use of multi-sig, social recovery walletsVitalik Buterin said that he and the Ethereum Foundation use multi-sig wallets to secure the majority of their crypto assets. CryptoSlate Daily wMarket Update: Bitcoin taps $26,900 – posting a 39-week highThe wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays. U.S. Banking turmoil halts NFT hype as DeFi thrivesDuring Mar. 11-12, Defi's transaction volume exceeded $58B, while Mar. 11 recorded least active NFT traders since November 2021. Coinbase’s Grewal hails Ripple’s defense efforts: XRP relisting possiblePaul Grewal praises Ripple's defense team ahead of imminent court ruling — said XRP Coinbase relisting possible. CZ touts rules for securitization of digital assets in new tweet threadCZ's early morning thoughts echo others in the crypto community who worry that exposure to traditional finance can also hurt the industry.
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Crypto investment fraud in the US hits record $2.57B – up 183% YoY
Thursday, March 16, 2023
Crypto investment fraud losses made up roughly 25% of all money lost to online scams and fraud during 2022 and almost 90% of the $3.31 billion lost to online investment fraud.
Binance ditches BUSD’s Bitcoin free trading for TUSD
Thursday, March 16, 2023
Binance CEO Changpeng 'CZ' Zhao clarified that the zero fee trading option would stop on BUSD in about a week.
Bitcoin surges to 39-week high, leaving Meta, Visa, TSMC, and Exxon Mobil in its dust
Tuesday, March 14, 2023
Bitcoin jumps 4 places in global asset rankings, riding high on the Fed's flip to quantitative easing.
Binance converts $1B BUSD to Bitcoin, Ethereum, BNB
Monday, March 13, 2023
The recent collapse of crypto-friendly banks has made Binance convert its $1 billion industry recovery fund to Bitcoin and other assets.
USDC depeg – Everything we know so far as contagion spreads from TradFi banking
Saturday, March 11, 2023
Coinbase and Binance both suspend USDC conversions until the dollar peg stabilizes, while BlockFi and Avalanche both reveal ties to SVB.
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