Crypto News

When the U.S. government sanctioned the Ethereum-based crypto mixing service Tornado Cash in 2022, it ignited a debate within the crypto community that continues three years later.Tornado enabled users to transfer crypto anonymously. The government contended that the service facilitated money laundering, prompting some of Ethereum's validators and block builders to take steps to avoid engaging with Tornado-linked transactions, which made the service slower and costlier to use.Advocates argued that complying with the sanctions amounted to censorship — undermining a fundamental cypherpunk principle. President Donald Trump supported the cypherpunks and lifted the sanctions on Tornado Cash in March of this year, but for some Ethereum developers, the situation highlighted a flaw within the network that still exists today: Why should...

Canadians will choose a new prime minister this month. The odds currently do not favor the Bitcoin advocate.Source link

U.S. stocks saw mixed action on Friday, while the U.S. dollar slipped to multiyear lows amid the uncertainty surrounding President Donald Trump’s trade war with China. Speaking with CNBC on Friday, Blackrock boss Larry Fink stated that the U.S. economy is at least very close to, “if not in, a recession right now.” Recession RiskSource link

The complex pipes that keep derivatives trades moving are about to get a major efficiency boost in DeFi, according to Crypto Valley Exchange.Crypto Valley Exchange's "smart clearing" protocol will lower the capital requirements for derivatives traders by setting collateral levels in light of the traded assets' correlations in price. In doing so, it could make DeFi more competitive with the mainstream financial markets crypto trying to replace, according to CEO James Davies.The service is a new take on an age-old problem in DeFi: how to sufficiently mitigate counterparty risk in a trustless environment.Traditional financial markets like CME and NYMEX rely on clearinghouses to be a trusted counterparty for every buyer and seller. They demand some collateral, but hardly 100%. DeFi...

Onyxcoin (XCN), the native token of its namesake's modular blockchain, experienced a major boost over the past 48 hours, bucking the bearish market sentiment with a 150% rise.Daily trading volume averaged around $25 million earlier this week until the token started to rip through levels of resistance. That figure has now ballooned to $600 million, the majority of which took place on Coinbase. The surge in volume and apparent lack of visible catalyst prompted Binance to list XCN futures on its exchange on Friday.Unlike many other Binance listing announcements, the listing did not spur an additional increase in token price, which could indicate that some investors opted to "sell the news," creating a type of equilibrium between new buyers and...