modernsociety
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11 months, 1 week agoSEC Pushes for Cash Redemption Model for Spot Bitcoin ETFs
As the U.S. Securities and Exchange Commission (SEC) reviews filings for spot Bitcoin exchange-traded funds (ETFs), it is insisting on a “cash” redemption model rather than alternative models proposed by iss…
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11 months, 1 week agoNew Accounting Rule Change Boosts Corporate Adoption of Bitcoin and Crypto
Bitcoin and other cryptocurrencies may soon experience a surge in adoption by U.S.-based companies, thanks to a recent accounting rule change. The new rule allows companies to more accurately reflect the value of…
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11 months, 1 week agoBinance Files Motion to Dismiss SEC Case, Citing Lack of Relevance in DOJ Settlement
Binance has submitted two key filings in response to an ongoing case launched by the U.S. Securities and Exchange Commission (SEC). The first filing seeks to dismiss the case, arguing that the SEC has not provided…
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11 months, 1 week agoYearn.finance Loses $1.4 Million in Treasury Funds Due to Scripting Error
Decentralized finance protocol Yearn.finance has experienced a significant loss of funds due to a scripting error. The error caused the protocol’s treasury balance of lp-yCRVv2 tokens to be swapped, resulting in a…
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11 months, 1 week agoArgentina's New President Implements Peso Devaluation and Cuts Subsidies, Turning to Cryptocurrencies for Economic Stability
Argentina’s new President, Javier Milei, has announced a 50% devaluation of the Argentine peso and cuts to energy and transportation subsidies. This move is expected to worsen the country’s economic situation ini…
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11 months, 1 week agoNasdaq Shifts Focus to Carbon Markets with Blockchain Technology
Nasdaq, the largest stock exchange in the US, has decided to repurpose its blockchain technology developments after discontinuing its plans to launch a custodian business for digital assets due to regulatory…
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11 months, 1 week agoNew Accounting Rules Transform How Companies Handle Cryptocurrencies
The Financial Accounting Standards Board (FASB) has announced new rules that will significantly impact how U.S. companies account for cryptocurrencies like Bitcoin. Starting from December 15, 2024, companies will…
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11 months, 1 week agoBitcoin Miners Face Backlash Over Censorship of Blockchain Inscriptions
Loyal readers of The Protocol will recall our riff in last week’s issue, headlined “Bitcoin Censorship, or Just ‘Spam Filtering?’” The gist of the story is that some Bitcoin purists are trying to keep the oldest…
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11 months, 1 week agoOKX DEX Loses $2.7 Million in Hack Due to Private Key Leak
On December 13, OKX decentralized exchange (DEX) experienced a significant hack, resulting in a loss of $2.7 million. The breach occurred due to a leaked private key of the proxy admin owner. Unlike previous…
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11 months, 1 week agoNew US Accounting Rules Allow Realistic Valuation of Crypto Assets
Crypto companies and institutions holding crypto assets in the United States will soon be able to record the value of their assets more accurately, thanks to new accounting rules set by the Financial Accounting…
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11 months, 1 week agoNew Accounting Standards Enhance Transparency for Corporate Cryptocurrency Holdings
The Financial Accounting Standards Board (FASB) has announced new standards that will allow companies to use fair-value accounting for specific cryptocurrencies on their balance sheets. These standards, which will…
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11 months, 1 week agoCo-founder of Three Arrows Capital Faces Questioning in Singapore Court over Crypto Fund Collapse
In a recent court hearing in Singapore, Su Zhu, co-founder of Three Arrows Capital (3AC), faced questioning regarding the collapse of the crypto fund. The liquidators, Teneo, sought details on the fund’s failure a…
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11 months, 1 week agoUniswap v3 Expands DeFi Opportunities by Merging with Bitcoin on Rootstock
Uniswap, the leading decentralized exchange (DEX) in the world of decentralized finance (DeFi), has made a groundbreaking move by deploying its version 3 (v3) on Rootstock, a Bitcoin sidechain. This integration…
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11 months, 1 week agoRegulatory Dispute Over Cryptocurrency Classification Creates Uncertainty for US Crypto Industry
Rostin Behnam, the chairman of the US Commodity Futures Trading Commission (CFTC), has expressed concerns about the lack of clear regulatory guidelines for cryptocurrencies in the United States. He believes that…
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11 months, 1 week agoCoinbase Expands International Exchange to Address Regulatory Uncertainty
US-based cryptocurrency exchange Coinbase has announced plans to expand its international exchange by offering spot trading. The move is in response to hesitancy among some users to trade on US venues due to…
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11 months, 1 week agoCrypto Hedge Fund Co-Founder Su Zhu Set for Release After Demonstrating Good Behavior in Custody
Su Zhu, co-founder of the crypto hedge fund Three Arrows Capital (3AC), is set to be released from custody after spending several months behind bars. Zhu had received a four-month jail sentence for non-cooperation…
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11 months, 1 week agoBlackRock's Revised Bitcoin ETF Mechanics Open Door for Wall Street Banks
BlackRock’s proposed spot bitcoin ETF has made a change to its mechanics that could potentially involve Wall Street banks in the cryptocurrency market. The change allows authorized participants (APs) to create n…
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11 months, 1 week agoDWS to Launch Joint Venture for Tokenization in Europe, Eyes Expansion into Switzerland
DWS, the fund subsidiary of Deutsche Bank, is partnering with Flow Traders, an ETP market maker, and crypto specialist Galaxy to launch a joint venture called Allunity. The Frankfurt-based joint venture aims to…
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11 months, 1 week agoIsrael-Hamas Conflict Fuels Demand for Bitcoin as Global Tensions Rise
The recent Israel-Gaza war has sparked a renewed push for stricter regulation of the crypto market in the United States. Senator Elizabeth Warren and her colleague Roger Marshall have written a letter to the…
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11 months, 1 week agoCantor Fitzgerald CEO Bullish on Tether and Bitcoin, Dismisses Other Cryptocurrencies as "Make Believe
Howard Lutnik, CEO of Cantor Fitzgerald, recently shared his insights on the future of the crypto industry, highlighting Tether and Bitcoin during the CNBC Money Movers Podcast. Lutnik expressed confidence in…
