Crypto News

A member of layer 2 scaling solution Base has refuted rumors that its sequencer Coinbase has been selling ether (ETH)."Coinbase has accumulated $300M+ in ETH, which is more than 2x all of Base's ETH earnings over time," Base member Kabir.base.eth said on X Sunday. "Base and Coinbase have and continue to hold ETH and publicly disclose our long term holdings (100K ETH+, $300M+)." Kabir added that Base uses offchain custody for security and audit reasons (that's why funds move to Coinbase), stressing that the Ethereum layer 2 solution earns and spends as much as possible in ETH, using it for Layer 1 costs and granting support. CoinDesk reached out Coinbase for a comment on the matter.Kabir's comments came after pseudonymous...

A former high-tech corporate lawyer has advocated for sector-specific regulations for decentralized finance that leverage the technology’s strengths while addressing its weaknesses. The Importance of Collaboration Ran Hammer, a blockchain and crypto-focused lawyer, is advocating for sector-specific laws for decentralized finance (defi) that consider the strengths and weaknesses of the underlying technology. According to Hammer,Source link

Metaplanet (3350) announced full-year 2024 financial results and is now sitting on an unrealized gain of approximately $36 million (5.46 billion yen) on a total of 1,761 BTC, acquired for $137 million.The bitcoin investor said it increased its shareholder base by 500% to 50,000 in 2024.Metaplanet has several ways of increasing bitcoin holdings per share. The first is debt issuance, which is achieved through secured bonds, convertible bonds, and the use of bitcoin as collateral. The second is equity issuance through private placement, preference shares, convertible bonds and warrants on top of cash flow from business operations, according to the presentation. The firm plans to acquire 10,000 BTC by the end of 2025 and 21,000 BTC by 2026-end. This will...

Bitcoin (BTC) and crypto markets are still recovering from last week's bloodbath, but it appears that the memecoin fever is alive and well as three big tokens were issued over the weekend.BNB Chain-based TST token, issued as a memecoin by the blockchain’s community following a tutorial video on how to issue tokens, zoomed to a $300 million market capitalization as Binance founder Changpeng Zhao referred to the token in several X posts — with it even gaining a coveted Binance listing on Sunday.Zhao, who stepped from a formal role at the company last year, said Sunday that he wasn’t for or against memecoins, and the category’s “fun” element makes it appealing for short-term traders.“Things with clear tangible value are harder...

The new president of the Central Bank of Brazil has linked the rapid growth of stablecoins with tax evasion and money laundering. He remarked that individuals use these tools for cross-border payments to maintain an “opaque vision for taxation or money laundering.” Central Bank of Brazil States Stablecoin Volumes Linked to Tax Evasion and MoneySource link