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  • Jul 30, 2024

Bitcoin Barely Budges as Federal Reserve Keeps Interest Rates Steady

Bitcoin didn’t budge after the U.S. Federal Reserve announced that it would leave interest rates unchanged—a widely expected move from investors.  Answering questions from reporters, central bank chief Jerome Powell did not reveal much about a future cut, saying that although “inflation has eased substantially,” if by September “inflation were to prove sticky” a cut would be less likely.  “‘Certainty’ is not a word we have in our business,” he said.  But investors are expecting the central bank...

  • Jul 30, 2024

Tether Reports $5.2 Billion Profit, Questions Arise Over Bitcoin Holdings

Tether Holdings Limited, the company behind the world's largest stablecoin USDT, has reported a profit of $5.2 billion for the first half of 2024, according to its latest quarterly attestation report.  That’s record profit for Tether, according to the company, which claims to hold reserves for its tokens totaling $118.4 billion, with liabilities at $113.1 billion. And despite what appears to be a discrepancy in its reported Bitcoin holdings, the results of its attestation—provided by global acco...

  • Jul 30, 2024

Bahamas Passes Crypto Law Designed to Prevent FTX, Terra Disasters

The Bahamas has passed a new crypto law which aims to adapt to how the industry has changed since 2020, following the collapse of Sam Bankman-Fried’s FTX and the failure of Do Kwon’s Terraform Labs. The Digital Assets and Registered Exchanges Act 2024 (known as DARE 2024) most notably introduces new rules for businesses providing custody of digital assets. These regulations appear to address mistakes made with FTX, which was headquartered in the island country. This includes requirements to main...

  • Jul 30, 2024

'Definition of a Shitcoin': Shark Tank's Kevin O'Leary Shuns Celebrity Meme Coins

When it comes to celebrity meme coins, don’t expect to see Kevin O'Leary’s name come up anytime soon—either as an issuer or an investor. “That is the definition of a shitcoin,” the Canadian entrepreneur and “Shark Tank” star told Decrypt in an interview. “Why would I put that into a portfolio?” O'Leary said that nearly 20% of his investments are currently in crypto, split between assets like Bitcoin and companies like stablecoin issuer Circle. Still, the influential investor described celebrity...

  • Jul 30, 2024

Liminal Pushes Back Against $230 Million WazirX Hack Claims

Following the $230 million hack of Indian crypto exchange WazirX earlier this month, cryptocurrency custody service provider Liminal has pushed back against accusations that the attack involved its infrastructure. A Liminal spokesperson told Decrypt that the company’s systems were not compromised in order to recently funnel $230 million of WazirX’s crypto assets. A compromised multi-signature smart contract wallet used in the attack was allegedly “created independently and further imported on th...

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