FOXES FOR FEES: Crypto exchange ShapeShift is launching its native FOX token, enabling commission-free trading between cryptocurrencies. All platform users who sign up get 100 FOX tokens automatically, which, if held, never expire and provide $10 worth of free trading volume per token on a rolling 30-day basis. Full story
DARK XRP? Blockchain sleuthing firm Elliptic found that some $400 million-worth of XRP can be traced to illicit activities, such as Ponzi schemes and darknet markets, about half of the $829 million in bitcoin spent on the dark web, a report from the firm said. Full story
ONE RULE TO BIND THEM: The U.S. Financial Crimes Enforcement Network (FinCEN) views all stablecoins as falling under its remit to protect money transmission services, Director Kenneth Blanco has said. Speaking at an event Friday, Blanco said: “It does not matter if the stablecoin is backed by a currency, a commodity, or even an algorithm – the rules are the same.” Full story
BY INVESTOR DEMAND: The Monetary Authority of Singapore, the city-state's de facto central bank, may soon allow bitcoin and ether-based derivatives to be traded on regulated platforms. The regulator published a consultation paper on Wednesday, seeking to green-light trading in what it calls "payment token derivatives" after receiving requests to put such tokens under its remit. Full story
GALAXY OF BITCOINS: Galaxy Digital is tapping Bakkt and Fidelity Digital Assets to store bitcoin for two new funds open to institutional investors. The Galaxy Bitcoin Fund requires a $25,000 minimum investment, while the Galaxy Institutional Bitcoin Fund requires a higher minimum stake. Full story |
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| ERASED RALLY: After losing three-quarters of the gains seen in October, bitcoin remains on the defensive with key daily chart indicators reporting a strengthening bearish sentiment. The cryptocurrency looks set to test support at $7,850 soon, though a violation there could reset the 10-month moving average near $7,715. Full story |
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