In Brief The European Union Parliament has banned unidentified self-custody crypto wallets for transactions within the region as part of its broader anti-money laundering efforts. The ban targets anonymous cash transactions exceeding €3,000 and self-custody wallets on various platforms. Dissenting voices have argued that the ban may disproportionately affect law-abiding citizens and hinder financial privacy.…
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The US SEC has stepped up its scrutiny of Ethereum, inadvertently uniting the crypto community against it. Ripple CEO Brad Garlinghouse said the US Securities and Exchange Commission (SEC) would lose its war against Ethereum. In a March 22 post on social media platform X (formerly Twitter), Garlinghouse pointed out that the financial regulator lost its securities classification battle against his…
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In Brief BlackRock shows strong preference for Bitcoin over Ethereum among its clients, with “very, very little” interest in an Ethereum ETF. Robert Mitchnick, Head of Digital Assets, shared insights at the Bitcoin Investor Day, indicating Bitcoin remains the primary focus. Challenges with Ethereum underscore the complexities of digital asset management, influencing BlackRock’s cautious approach.…
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In Brief Solana emerges as the “Apple of crypto,” innovating with a focus on leveraging hardware to enhance the Web3 experience. Its network performance and commitment to community and ecosystem development set it apart as a serious competitor. Technical enhancements and strategic partnerships reflect Solana’s leadership in bridging blockchain with financial systems. New research suggests…
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Memecoins are surging in 2024, with many Solana-based tokens experiencing meteoric rises in price as the bulls finally dictate the crypto market. One example is dogwifhat (WIF), a token derived from the Dogwifhat meme (an image of a dog sporting a woolen hat) that became initially popular on Twitter (X) in late 2019. Here’s what to know about…
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Over the weekend, Solana-based memecoins pre-sale frenzy had generated around $100 million. The developer of the Slerf memecoin inadvertently burned both the liquidity pool and the 500 million tokens designated for pre-sale participants in a botched launch today. The project had successfully raised over $10 million during its pre-sale. Over the weekend, the project was one of…
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In Brief The blockchain industry faces regulatory challenges, not a death sentence, aiming for a balance between innovation and compliance. Joshua Kershner emphasizes the importance of a compliance-first approach in crypto, advocating for engagement with legal counsel. The Biden administration’s proposed tax on crypto miners sparks concerns about stifling innovation and driving the industry out…
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Solana is up 7% over the past 24 hours as Bitcoin takes a breather, down 7% from its all-time high. Bitcoin had the most volatile weekend in a year as Bitcoin slipped as low as $64,550 after reaching a new all-time high of $72.760 on Thursday, March 14. As of press time, Bitcoin has recovered…
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In Brief After Arbitrum’s recent token unlocking event, approximately 8.95 million ARB tokens, valued at $16.4 million, were transferred to Binance. This move, often interpreted as bearish in the crypto market, coincided with a broader downturn, causing ARB’s price to drop to $1.62. Despite the price decline, Arbitrum remains a dominant force in the Ethereum…
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JPMorgan analysts believe MicroStrategy’s debt-funding approach to Bitcoin purchases could worsen a market downturn. MicroStrategy could raise as much as $600 million from its latest convertible debt offering to purchase more Bitcoin. However, JPMorgan analysts have reportedly cautioned that the firm’s reliance on debt to purchase Bitcoin could exacerbate a market downturn. The firm, led by BTC advocate Michael Saylor, has acquired over…
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