Global #Digital assets

Bitcoin, the dominant cryptocurrency globally, has yet to reach its previous record highs despite a period of relative stability in the market. A novel explanation for this challenge has emerged from crypto research firm 10x Research. They suggest that a decline in the creation of stablecoins is a significant contributing factor.

In his latest essay titled "Group of Fools," Arthur Hayes, co-founder of BitMEX, provides a critical analysis of recent macroeconomic events and their potential impact on the cryptocurrency market. Known for his direct style, Hayes combines technical analysis, criticism of central banking practices, and insights into currency markets to make the case for a resurgence of bullish sentiment in Bitcoin and crypto.

Bloomberg announced on Thursday that Kraken, a cryptocurrency exchange headquartered in the United States, is contemplating securing a final funding round exceeding $100 million in anticipation of a potential initial public offering (IPO).

A recent law in the United States grants the President expansive authority to restrict access to digital assets, sparking concerns among experts in the field. Scott Johnsson, a notable figure in digital assets, criticized the law for its wide-reaching implications, suggesting it could effectively empower the President to ban certain protocols and smart contracts.

Ripple Labs is pushing back against the SEC's demands for hefty penalties in their legal dispute, arguing that both its current financial status and historical contracts should not play a role in determining penalties.

A crypto wallet allegedly owned by DBS Bank, a multinational banking and financial services corporation, contains more than 170,000 Ether, valued at close to $650 million.