Cryptocurrency News

With the right leverage, ten men can fight like one hundred, and one coin can spend like a million.

Both Coinbase and a16z released policy frameworks this week.

Payments tied to ransomware attacks in 2021 are already exceeding 2020′s total, the U.S. government’s financial crimes watchdog said Friday.Exchanges and other financial institutions reported more than $590 million in payments tied to ransomware attacks, including cryptocurrency payments, to the Financial Crimes Enforcement Network (FinCEN) in the first half of 2021, outstripping a 2020 total of just $416 million. It was not immediately clear what amount of this total was comprised specifically of cryptocurrency transactions, versus more traditional payment methods.A Treasury Department press release said attackers are “increasingly requesting payments in Anonymity-Enhanced Cryptocurrencies” such as monero.Attackers are also using mixers,…

Tribe Capital, a venture capital firm with investments in Kraken and FTX among others in the crypto sector, is launching a $75 million crypto fund, sources familiar with the initiative told CoinDesk.The fund initially sought to raise $50 million but strong interest from investors raised the total, according to the sources.San Francisco-based Tribe Capital’s fund will focus strictly on the crypto sector, taking long positions in early-stage projects, SAFTs (simple agreements for future tokens, a type of investment agreement that developers use to work with investors), yield farming, treasury buys and mining.The fund will make 75% of its investments in…

Bitcoin (BTC) is inching closer to an all-time high after hitting $61K on Friday. Analysts and traders anticipate a US bitcoin ETF approval next week, which is fueling the recent price rally. Although technicals show resistance is near.

The crypto industry has been waiting years for the regulatory approval a Bitcoin ETF and now two have been permitted in Canada. What are they?

After years of trial and error by would-be fund sponsors, cryptocurrency investing is finally opening up to the masses with the tacit U.S. approval of a bitcoin futures exchange-traded fund.The Securities and Exchange Commission (SEC) greenlighted bitcoin futures ETFs in a first for the industry on Friday, after the regulator’s five commissioners met on the issue. ProShares, which filed for its Bitcoin Strategy ETF this past summer, may be the first to launch next week.The company filed a post-effective amended prospectus on Oct. 15, stating its filing is expected to launch on Monday, Oct. 18, though the fund may not…

The Commodity Futures Trading Commission (CFTC) fined Bitfinex and Tether more than $42 million on allegations the USDT stablecoin was not fully backed at all times and that Bitfinex violated a previous agency order.The federal commodities regulator settled charges with the sibling crypto companies on Friday, barring both firms from “any further violations of the Commodity Exchange Act (CEA) and CFTC regulations.”According to a CFTC press release, Tether’s stablecoin was fully backed by reserves for only one-quarter of the time over a 26-month period between 2016 and 2018. Further, Tether comingled reserve funds with the company’s corporate funds and held…

The company behind Steam updated its rules and guidelines to prohibit applications that issue or allow cryptocurrencies or NFTs to be exchanged.

Payments service provider Square is looking to develop a bitcoin mining system, the company’s CEO Jack Dorsey tweeted on Friday.“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” Dorsey wrote.In his threaded tweets, Dorsey wrote that mining needs to be more distributed and energy-efficient, and that silicon design is too concentrated into just a few companies, leading to reduced supply.He also said that mining should be more accessible to everyone, and he was soliciting thoughts on whether Square should pursue the project or not, and why or why not.Dorsey…