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Source: g20.org   One of the world’s leading financial policy-making organizations said that it will tell governments to step up their supervision of stablecoins later this year – against a “backdrop of the recent turmoil” in the crypto sector. In a press release from the Financial Stability Board (FSB), which advises the G20 on economic policy matters, the body claimed it was “working to ensure&rdquo ; that cryptoassets were “subject to robust regulation and supervision.” The FSB added that it intends to report to the G20’s finance ministers and central bank governors in October on “regulatory and supervisory approaches to stablecoins and other cryptoassets.” The body indicated that policing stablecoins will become a high-priority matter for G20 member states, writing: “Stablecoins should be captured by robust regulations and supervision of relevant authorities if they are to be adopted as a wi...

Source: AdobeStock / Rafael Henrique The bankrupt crypto lender Celsius (CEL) has so far paid out more than $3m in legal fees, with one law firm alone responsible for the vast majority of the expense for just two weeks of work. The total figure of over $3m was made up of close to $2.6m charged by law firm Kirkland and Ellis for work done during the two weeks between July 13 and July 31, as well as $750,000 charged by law firm Akin Gump, two recent documents filed with the court revealed. The legal fees have been incurred as Celsius continues to work through bankruptcy protection proceedings under Chapter 11 of the US Bankruptcy Code. Celsius first suspended withdrawals for customers in June of this year, after experiencing massive capital outflows during the turbulent market conditions at the time. One month later, the firm filed for bankruptcy protection . Needless to say, the massive legal fees are likely unpopular among Celsius customers who are hoping to get...

CYBER Price Plunges 22% After Team’s Mishap The snapshot proposal CP-1 was originally intended to allocate 1,088,000 CYBER tokens from the Community Treasury. However, a typing error led to the proposal mistakenly stating a significantly larger number. This discrepancy was quickly identified and acknowledged by the CyberConnect team. advertisement The rejected proposal’s main purpose was to utilize the token from the Community Treasury for providing liquidity in various bridging services, including CYBER-ETH, CYBER-BSC, and CYBER-OP pairs. The proposal incorrectly stated that a total of 7,000,000 CYBER-BSC and 3,888,000 CYBER-ETH would be used, whereas only 1,088,000 tokens had been unlocked for the Community Treasury at the time. Following this revelation, the CYBER token experienced a sudden and dramatic drop in value, plummeting by more than 20% within a single hour. Investors and traders were left grappling with the unexpected turn of events. Howe...

Source: TradingView The solana price has risen to $23.60 today, representing a 1% gain in the past 24 hours. This movement means it also has increased by 3.6% in the past fortnight and by an impressive 64% in the last 30 days, with the compensating for many of the losses it suffered in the wake of the FTX bankruptcy. Today's rise also comes on the back of solana's 24-hour trading volume passing $700 million, an elevated level that could indicate further movements. And with SOL continuing to benefit from the launch of Solana-based meme token BONK, as well as ongoing development, the next few weeks could be another good period for the altcoin. Solana Price Prediction as $700 Million Trading Volume Comes In – Can SOL Recover to $100? SOL's indicators show strong momentum, with its relative strength index (purple) rising back towards 60 after a slight dip near to 50. The sense of continued positive momentum is reinforced by the coin's 30-day moving avera...

Image Source: Hodlnaut Potential buyers have shown interest in the embattled cryptocurrency lending company Hodlnaut and its claims against now-bankrupt digital asset exchange FTX. According to a Monday report by Bloomberg, “various parties who are interested in acquiring” the Singapore-based crypto platform have reached out to the interim judicial managers overseeing the company after it sought protection from creditors. The report, which cited an affidavit, said that the judicial managers are in the process of signing non-disclosure agreements with the interested parties who have inquired about purchasing Hodlnaut.  As of December 9, Hodlnaut Group owed a combined $160.3 million, which accounts for more than 60% of the company’s outstanding debt, to some major crypto and Fintech companies like Algorand Foundation, Samtrade Custodian, S.A.M. Fintech and Jean-Marc Tremeaux. In early August, Hodlnaut froze customer withdrawals. In...

Source: TradingView The XRP price has slipped slightly today, dropping by 0.5% in the past 24 hours. At $0.413164, it's up by 0.5% in a week and by 20% in the last month, with the altcoin benefitting in the past few days with a rise in its 24-hour trading volume above $1 billion. However, despite surging as high as $1.3 billion yesterday, this volume has returned closer to $1 billion today, indicating that XRP's market may be stabilizing again after a welcome period of positive volatility. But with Ripple expecting the end of its legal battle against the SEC, XRP could see another influx of volume very soon. XRP Price Prediction as $1 Billion Trading Volume Comes In – Are Whales Buying? XRP's indicators reinforce the impression that the coin is on the up. Its 30-day moving average (red) is about to overtake its 200-day average (blue), with such a move likely to signal further rises. Likewise, the coin's relative strength index (purple) has begun clim...

FTM, the token that powers the high-performance smart-contract-enabled Fantom layer-1 blockchain protocol, has seen a stunning return to form this year. Some pre-Fed meeting profit taken has seen it slip back under $0.52 from the more than eight-month highs it hit above $0.55 on Tuesday. But FTM/USD continues to trade up a jaw-dropping 160% since the end of December 2022, with the pace of its exponential rate of gains picking up over the course of January. Crypto markets have benefitted this year from a combination of bets that 1) 2023 will be a better year on the macro front as US inflation rapidly falls, allowing the Fed room to “pivot” to a more dovish stance and 2) that 2022’s bear market might now be over. Of course, some analysts expect the Fed to knock cryptocurrency markets back by disappointing expectations for an imminent dovish policy signal. That could send Fantom back towards support in the $0.42-44 area. But bulls remain confident that...

Source: AdobeStock / piter2121 Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Investment news Swiss crypto financial services provider Bitcoin Suisse announced today that it joined Liquid Collective , the liquid staking protocol built and run by an independent collective of Web3 teams including The Liquid Foundation , Alluvial , Coinbase Cloud , Figment , Kiln , Kraken , and others. Per an announcement, once live, Bitcoin Suisse’s clients will have the ability to stake ethereum (ETH) through Liquid Collective and use the receipt token generated by its protocol (LsETH) to participate in Web3 and decentralized finance (DeFi). Also, LsETH holders will be protected against losses from slashable events via built-in coverage, it said. The Anoma Foundation , which fosters the development of the Anoma ecosystem, announced that it is making ...

Mike Novogratz. Source: a video screenshot, Behind the Brand / YouTube The industry and its participants need the major crypto exchange Binance and its loyal retail following, said Michael Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings ,  Speaking to Real Vision Crypto, Novogratz commented on the announcement of charges against a crypto company made by the US Department of Justice earlier this month, which had the cryptoverse speculating which exchange it could have been. "And I was like, please don't have it be Binance," said Novogratz. "We need to cheer for Binance."  It turned out to be a little-known Hong Kong-registered exchange called Bitzlato . Its Russian founder Anatoly Legkodymov was arrested by US authorities for allegedly processing $700 million in illicit funds. Binance, however, had had some involvement in the case, with the US Department of the Treasury writing in an order that ...

Adobe Stock / LALAKA The weakening of the US dollar continues to be a concern for many, with the US Dollar Index sliding to a seven-month low after reaching a 20-year high in September 2022. The dollar's entire second-half rise in 2022 has now been erased, as markets position themselves in expectation of US Federal Reserve action and its direction on interest rate policies. In the midst of this economic uncertainty, one sector that could potentially benefit from a weaker US dollar is the cryptocurrency market. According to Bill Noble, Chief Technical Analyst at Token Metrics, "a weak dollar is a dream scenario for crypto." He explains that bitcoin and other cryptocurrencies "are a legitimate component of the foreign exchange market, and it's like any other currency. It rises as the dollar falls." Meanwhile, economic data came in today that the U.S. economy grew at 2.9% in Q4 of 2022, which was slightly ahead of the 2.8% expectation. Whi...

Source: piter2121/Adobe The South Korean crypto exchange Bithumb has suffered another double blow from the nation’s prosecutors – who have raided the exchange in a price manipulation probe. Officers also want to arrest Bithumb’s suspected largest shareholder on embezzlement charges. YTN reported that the Seoul Southern District Prosecutor’s Office “conducted a search and seizure operation” at the firm’s offices on January 26. The media outlet reported that the prosecution is believed to have “launched an investigation” into a “possible illegal transaction” involved during “the process of listing and trading cryptoassets.” The altcoin GOM2 was the only token named in media reports. The same coin was delisted by the Bithumb rival Upbit last year over disclosure-related matters. 24-hour trading volumes on the Bithumb crypto exchange. (Source: CoinGecko) Media outlets also noted that the invest...

Source: AdobeStock / Corney Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Exchange news Creditors have approved the rescue plan of Australian company Digital Surge , preventing the crypto platform from going bankrupt following the fall of the FTX exchange. Customers and unsecured trade creditors of the Brisbane-based crypto platform will receive 55 cents to every Australian dollar of their claims made on 8 December, after creditors assented to a rescue package put forward by founders Josh Lehman and Daniel Rutter, Business News Australia reported. Binance.US was awarded accreditations by the International Standards Organization (ISO) and the International Electrotechnical Commission (IEC). A-LIGN , an independent, third-party auditor, issued the certification, the announcement said. Investment news Circle , the issuer of the USDC stable...

On January 22, the leading cryptocurrencies such as Bitcoin and Ethereum are on a rise, having surged nearly 10% in the last seven days. Bitcoin is holding over $23,000 and Ethereum is up to trade above $1,650.  Bitcoin experienced a significant upswing and some possible contributors to this phenomenon include whale activity, public buying, and cryptocurrency's potential for disrupting financial services.  The crypto market's stability has returned after a long period of volatility and many people are now positive about the coin's future. Santiment reported that, of the $1 billion+ accumulation that occurred over the past 15 days, a majority was from 1-1000 BTC transactions. In addition, coins held by whales with 1000 - 10,000 BTC holdings accounted for 83% of the accumulation. Top Altcoin Gainers and Losers Aptos (APT), Optimism (OP), and ApeCoin (APE) were the top performers in the last 24 hours. APT's price has increased by more than 38% to $12.67...