Crypto News
Crypto Daybook Americas: LIBRA Fallout Weighs on Crypto Markets While FTX Repayments Are Set to Start
By Francisco Rodrigues (All times ET unless indicated otherwise)While bitcoin (BTC) is little changed over the past 24 hours, down just 0.7%, the broader market is in a bearish mood following the Libra token debacle, which has led to accusations of fraud and calls for the impeachment of Argentina's President Javier Milei.The CoinDesk 20 Index is down around 2.3% over the past day, and the near- to medium-term market movement probably hinges on how the U.S.-Russia negotiations in Riyadh go. The talks are focusing not only on ending the conflict in Ukraine, but also on “normalization” of ties between the countries.An additional layer of uncertainty comes from FTX Digital Markets, the Bahamas-based subsidiary of FTX, which starts repaying creditors today....
Beware the Bitcoin Yield and BTCfi Larps: A Veteran’s Cautionary Tale
Having spent over a decade immersed in the cryptocurrency space, I’ve seen countless projects make grand promises—many touting revolutionary returns and cutting-edge decentralized technology. Today, however, a trend has emerged where “Bitcoin DeFi” or “BTCfi” projects present themselves as decentralized marvels using slick dApps, crypto lingo, and smart contracts. Yet behind the scenes, centralized actorsSource link
Australia’s Financial Watchdog Takes Action Against 13 Crypto Firms
AUSTRAC’s crackdown comes after a year-long investigation into compliance failures at Australian crypto exchanges.Source link
Javier Milei Denies Responsibility in Libra Debacle: ‘If You Go to the Casino and Lose Money,...
Argentine President Javier Milei denied any wrongdoing regarding his involvement in Libra, a cryptocurrency he shared on social media, the price of which tanked hours later. Milei stated that he didn’t endorse Libra and compared this investment to going to the casino. Milei Refers to Investing in Libra as Going to the Casino Argentine PresidentSource link
LIBRA Apparent Rug Pull Is Latest ‘Sordid Episode’ Emerging From Solana’s Memecoin Complex: Galaxy
The apparent LIBRA token rug pull is the the latest incident to negatively affect the Solana memecoin ecosystem, Galaxy Research said in a report on Monday.The narrative had already began to sour following the TRUMP token's introduction in January and the ensuing "liquidity suck" that it caused. LIBRA could lead to more damage to the memecoin complex, the report said. This could reduce the need for investors to hold Solana's sol (SOL), Galaxy said, noting that sol's rise has been driven mainly by demand for SOL-denominated assets such as memecoins.Galaxy noted that the cryptocurrency has plummeted in U.S. dollar terms and versus rival ether (ETH), since the launch of LIBRA. Solana was trading 8.6% lower over 24 hours at $168.73...