While this year’s rally has boosted the confidence of many crypto investors,it seems likely that the good times might be coming to an end.
The RBA and commercial banks are testing how a new form of digital money could be used to solve real problems such as completing onerous GST paperwork.
Former FTX engineering chief Nishad Singh pleaded guilty in a cooperation deal against the cryptocurrency exchange’s co-founder Sam Bankman-Fried,the third former colleague to turn against him.
Local media said the operation stole $US18,000 ($26,000) worth of electricity from the school.
Sam Bankman-Fried has been accused of making tens of millions of dollars of illegal campaign donations to politicians in an attempt to buy influence over cryptocurrency regulation.
Digital art collectibles are among the big hits as non-fungible tokens make a comeback,with sales hitting $1 billion in January,according to market tracker CryptoSlam.
In the face of scandals,price crashes,rising interest rates and increasing regulatory interventions,crypto prices are soaring in 2023.
The regulatory crackdown on the digital-asset sector is heating up with the New York financial watchdog halting the issue of new tokens of crypto’s third largest stablecoin,a Binance-branded coin known as BUSD.
Aside from crypto’s obvious issues of scams,collapses and lack of any real-world usability,the industry is facing another threat.
Facing decades in prison,FTX founder Sam Bankman-Fried’s apparent inability to stay quiet could be the gift that keeps on giving for US prosecutors.
Investors are heading back to the battered world of crypto ETPs.