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Bitcoin improvement proposal to block spam draws heat from heavyweights

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By Omkar Godbole (All times ET unless otherwise noted) A new Bitcoin Improvement Proposal, BIP-110, which seeks to curb spam-like data clogging the blockchain, is facing backlash from some industry leaders who argue it risks damaging the network’s reputation more than spam itself. BIP-110 is a “soft fork,” a type of upgrade that works seamlessly […]

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Crypto slides like tech stocks and gold retreat; The Bitcoin-Nasdaq correlation turns positive

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The crypto market continued to show weakness on Tuesday morning, largely following a tech sell-off across US stocks and a correction in the price of precious metals. Bitcoin is trading at $68,000, down 1.25% since midnight UTC, while Nasdaq futures and gold lost 0.55% and 2.4%, respectively, over the same period. Altcoins also lost ground

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Bitcoin remains under pressure near $68,000 even as the panic subsides

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Bitcoin BTC$68,115.86 struggling to build upward momentum, even as the key panic gauge pulls back from its early month highs and hints at renewed stability. Bitcoin’s 30-day implied volatility, the fear or panic gauge that reflects investors’ expectations of price swings over 4 weeks, has fallen to 52% year-on-year, according to data source Volmex. The

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Popular burger joint Steak ‘n Shake says bitcoin adoption boosted sales ‘dramatically’

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Fast food chain Steak ‘n Shake has announced its decision to accept bitcoin BTC$68,324.61 Nine months ago, same-store sales rose “dramatically”. Bitcoin payments are routed directly into its strategic Bitcoin reserve, which is then used to fund bonus payments for its employees, according to a statement posted on the company’s X account on Monday. “Nine

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UK crypto rules move too slowly to secure global hub status, says FCA-registered stablecoin issuer Agant

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The UK’s crypto regulatory framework is moving in the right direction, but not fast enough to support the country’s ambitions to become a global digital asset hub, Andrew MacKenzie, CEO of sterling stablecoin developer Agant, told CoinDesk. The government has repeatedly promised to position London as a center for global crypto and digital asset activity.

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DeFi protocol ZeroLend shuts down after 3 years due to inactive chains and hacks

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Decentralized lending protocol ZeroLEnd is winding down operations after three years, citing unsustainable finances amid inactive blockchains and rising security threats. The protocol, which ran crypto-lending markets across different blockchains, said sustained efforts could not overcome challenges such as price data providers dropping support and shrinking liquidity on networks such as Manta, Zircuit and XLAYER.

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Dollar bearish positioning hits highest since 2012.

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Investors are most bearish on the dollar in over a decade, according to Bank of America’s (BofA) latest survey, and the extreme effort could breed bitcoin BTC$68,079.67 volatility, just not the way crypto bulls have become accustomed. BofA’s February survey shows that investors’ positioning in the US dollar has fallen to its most negative (bearish)

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Inside sanctioned stablecoin issuer A7A5’s race to build a crypto giant

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HONG KONG — Oleg Ogienko, A7A5’s Director of Regulatory and Overseas Affairs, is looking to debate anyone who accuses him of breaking any compliance laws through his stablecoin company. Speaking to CoinDesk during Consensus Hong Kong, the public face of ruble-denominated stablecoin issuer A7A5 – which grew faster last year than USDT or USDC –

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Nexo returns to US with Bakkt-backed crypto services after regulatory exit in 2022

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Nexo is set to return to the US market, saying it has officially rolled out a range of digital assets and trading infrastructure from US-based Bakkt. The digital asset wealth platform pulled out of the US at the end of 2022 after what it called an “impasse” in negotiations with state and federal regulators over

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