Active Crypto Developers Growing Despite Bear Market: Report
The number of developers flocking to the crypto industry continues to grow, even in a year-long bear market.
Institutional Investment Creates Need for Enterprise-grade Self-custody Solutions
Institutional investors aren’t just coming to crypto generally — they’re increasingly interested in the specific self-custody solutions and services the industry can offer. The next step to capitalizing on that interest is to improve the usability, security, and compliance components of your tools to meet institutional investors’ needs.
SEC Racks up 50% Increase in Crypto Enforcement Actions in 2022: Report
The Securities and Exchange Commission brought a record number of crypto-related enforcement actions last year, up 50% from 2021, according to a new report from consulting firm Cornerstone Research. Last year's record of 30 crypto-related enforcement actions was second only to 2020, when the SEC brought 29 such actions. The most frequent allegations were fraud and unregistered securities, the firm found. Of those 30 enforcement actions, 70% alleged fraud, 73% alleged an unregistered securities offering and 50% alleged both. (The Block)
BIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to Adopt
Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public interest,” they advised. (Bitcoin.com)
Markets: Bitcoin, Ether Prices little Changed; Polkadot Gains as Solana Gives up Ground
Bitcoin and Ether were little changed in a muted morning of trading on Wednesday in Asia, as few top 10 non-stablecoin cryptocurrencies moved by more than 1% in either direction. Polkadot was one standout in the positive, while Solana saw the biggest loss after posting the largest gains in the list on Tuesday. The total crypto market capitalization over the 24 hours rose less than 0.1% to US$991.9 billion, while trading volume fell 11.4% to US$48 billion. (forkast)
$90 Million in FTX US Assets Were Transferred After Bankruptcy
Half of the $181 million worth of assets identified by FTX US, the U.S.-based arm of Sam Bankman-Fried’s bankrupt crypto empire, was “subject to unauthorized third-party transfers” following its bankruptcy filing, according to a presentation made to the FTX creditor committee today. It’s taken a “Herculean investigative effort for our team to uncover this preliminary information,” newly appointed FTX CEO John Ray said in a statement about the meeting. Unauthorized transfers from the main exchange, FTX.com, made headlines as hundreds of millions of dollars were drained the day after the company filed for Chapter 11 bankruptcy protection on November 11. But the company had not disclosed the $90 million that was moved from FTX US until now. (Decrypt)
Crypto Industry Booms: Report Shows 100% Increase in Developers in Two Years
According to Electric Capital, the number of monthly active crypto developers closed at 23,343 in December 2022. This figure represented a nearly 100% increase from the beginning of 2020, when there were less than 10,000 active developers.
CFTC Commissioner Says Foreign Discussions Over Crypto Standards Are Underway
CFTC commissioner Caroline Pham stated that multiple countries are discussing global crypto regulations during an interview with Bloomberg.
Former SEC Official’s Crypto Warning: Regulatory Onslaught Is Just Beginning
The Securities and Exchange Commission (SEC)’s former head of internet enforcement has warned the crypto industry that a “regulatory onslaught is just beginning.” His warning followed several recent enforcement actions the securities regulator took against major crypto firms.
What Happens When Crypto Is Too Big to Fail?
As crypto markets continue to grow and gain mainstream acceptance, it is crucial to consider the potential risks it poses to financial stability.
