Archive for month: August, 2023
Bitcoin Dips Below $26K, Smaller Cryptos Head Lower on Fed’s Powell’s Hawkish Remarks
Federal Reserve chair Powell speaking at Jackson Hole doubled down on keeping financial conditions tight, including hiking interest rates further if needed.Source
Binance Delists Sanctioned Russian Banks From Peer-to-Peer Service
Binance has cut ties with five sanctioned Russian banks that were listed on the exchange’s peer-to-peer service to let users transfer funds in rubles, the country’s native currency.Source
Sweeping U.S. Tax Proposal Met With Boos From Crypto World
An immediate burst of criticism from the crypto industry shows the U.S. Treasury Department’s new proposal on how to handle digital assets taxes will face a long road as it enters a months-long period of public comments and hearings.Source
Fed’s Powell at Jackson Hole: Prepared to Raise Rates Further if Appropriate
Market participants were looking to Friday morning’s speech to gauge the future direction of the U.S. central bank’s monetary policy.Source
Celsius Token Holders Lose Bid to Hike CEL Valuation
Creditors of the bankrupt crypto lender argue it should be valued at $0.80, its nominal price when the company collapsed, despite allegations of market manipulationSource
Default of Tokenized Loans on Centrifuge Puts MakerDAO’s Investment at Risk
DeFi giant MakerDAO has lent $1.8 million of DAI stablecoin to the tokenized credit pool under distress.Source
U.S. Crypto Tax Proposal Lets Miners Off the Hook, Snares ‘Some’ Decentralized Exchanges
The U.S. Treasury Department has finally unveiled its definition of a “broker” for the crypto industry, defining how crypto companies and investors will need to meet tax reporting obligations and answering a years-old question over whether decentralized finance platforms and miners will need to gather their users’ personal data.Source
Tokenization Could Improve Bond Market Efficiency, Hong Kong Regulator Says
A successful $100 million tokenized green bond issuance earlier this year has convinced the Hong Kong Monetary Authority to continue exploring tokenization to improve financial markets.Source