crypto

USDt transfers on ETH have historically been a major contributor to ETH capacity challenges. This shift coincides with comments from Vitalik Buterin, which suggest technical solutions to address scaling issues are imminent.
Binance allegedly allowed U.S. residents to trade derivatives that violate local rules, Bloomberg reports. This is confirmation that crypto, particularly unlicensed foreign derivative venues, remain in the focus of U.S. regulators.
Recent increased interest in non-fungible tokens (NFTs) has come to a head with the sale of digital artist Beeple’s “Everydays” piece for USD 69 million. Though NFTs have recently seen breakout levels of attention, this type of digital asset has been present in the crypto space for years.
When Ripple revealed the SEC was charging the firm for selling XRP as an unregistered security in December, the asset’s market cap dropped from USD 26 billion to a low of 8 billion. Since, however, XRP’s capitalization has recovered to a current USD 21 billion.
PayPal announced that it’s acquiring Tel Aviv-based crypto custody startup Curv in order to “accelerate and expand its initiatives to support cryptocurrencies and digital assets.” The acquisition reflects the challenges non-crypto firms face in participating in the space without the support of crypto-native firms.
The proposal alters the way transaction fees are paid on the network and is likely to insert further uncertainty into ETH’s technical roadmap at a moment when competing smart contract networks are achieving record valuations.
While that footprint is significant, BTC critics on this front simplify the issue, fail to draw comparisons to other commodities, and overlook the asset’s potential contribution to sustainability. 
Gensler’s confirmation follows remarks from SEC Commissioner Hester Peirce, in which she criticized “the lack of clarity around crypto.”
Yesterday, several outlets reported that the government of the Chinese region of Inner Mongolia is planning to shut down crypto mining as part of broader efforts to meet energy efficiency standards. The move isn’t expected to have a significant impact on mining, which is increasingly distributed around the globe.
ADA’s rally comes ahead of the network’s March 1 “Mary” upgrade, described as introducing “native tokens [and] multi-asset support” on the network.