Block Network

January 21, 2021

President Biden freezes FinCEN’s proposed crypto wallet regulations

President Joe Biden has frozen all regulatory processes including proposed FinCEN rules detrimental to the crypto industry. One of the first actions President Joe Biden has taken on his first day in office is to freeze Federal regulatory process, including the controversial self-hosted crypto wallet regulations proposed by former Treasury Secretary Steven Mnuchin. The announcement […]

Eth2 notches up 66K validators as devs reveal progress for 2021

Analysis of recent deposits to the Eth2 contract address reveals the number of individual validators is on the rise. Seven weeks after the launch of Ethereum 2.0’s beacon chain and 2.25 million ETH has been deposited into the ETH2 contract address, signaling growing confidence in the long-awaited rollout of ETH2.  More than 66,360 beacon chain […]

Going long: 270K Bitcoin moved into storage in a month

Investors are in it for the long run, locking 270,000 BTC away over the last 30 days. Despite surging prices, Bitcoin investors are rapidly locking up their BTC for the long-term, with 270,000 BTC being taken out of liquid supply in the last 30 days. According to data published by crypto market data aggregator Glassnode, […]

Former Ripple advisor set to become Comptroller of the Currency: WSJ

President Joe Biden looks set to appoint another former crypto executive to head up the Office of the Comptroller of the Currency. According to the Wall Street Journal, a former member of Ripple’s board of advisors directors is likely to become the next Comptroller of the Currency. The report cites insiders “familiar with the matter” […]

Some institutional investors taking profit as Bitcoin retraces

CoinShares has noted significant outflows from institutional products this past week, signaling some institutions have been realizing profits amid BTC’s recent pull-back. A new report from crypto fund provider CoinShares has indicated that some institutional investors have been realizing profits during BTC’s recent consolidation. CoinShares’ weekly digital asset flows report identifies $85 million in outflows […]

Nebraska senator introduces bills to allow state banks to custody crypto

“We need to be a leader in FinTech,” said State Senator Mike Flood. A Nebraska state senator has proposed new crypto-friendly legislation which could see his state become the next regulatory safe haven for FinTech firms. Sworn in just two weeks ago, Republican Mike Flood today introduced the Transactions in Digital Assets Act and Adopt […]

Bitcoin price searches for support near $35K, DeFi tokens move higher

DeFi tokens moved higher while Bitcoin price struggles to hold $35,000 as support. Bitcoin price is finding soft support at $35,000 after dropping 7.4% in the later hours of Jan. 19. According to Cointelegraph contributor Joseph Young, the correction was primarily the result of an overheated derivatives market and uncertainty over whether BTC can recapture […]

January 20, 2021

Origin Protocol begins accepting compensation claims following $7M exploit

Co-founder Josh Fraser said he hopes the compensation plan will help build trust among users as the project moves forward. Origin Protocol, a DeFi stablecoin project, will begin accepting claims from users who were affected by a $7 million exploit that occurred back in November 2020. According to a blog post from Origin on Jan. […]

Yearn.finance team proposes $225 million YFI token mint

Community members and contributors are moving forward with a plan to build a treasury and better incentivize developers. After a week of at times rancorous debate, an 11-author team of Yearn.finance core contributors and community members have submitted today a proposal to increase the supply of YFI by 6666 tokens — a quantity worth roughly […]

Sweden is working with DLT for its CBDC proof-of-concept

Sweden’s central bank deputy governor recently updated the public on the country’s CBDC exploration. Central Bank Digital Currencies, or CBDCs, were the talk of the town for many in crypto and banking in 2020, with Sweden’s prospective e-krona one of the frontrunners. Sweden’s central bank, Sveriges Riksbank, is investigating distributed ledger technology, or DLT, for […]