Venues Banned from Hosting Crypto Events in Beijing’s Finance District

This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.Latest Prices(CoinDesk)Top StoriesBitcoin fell below $61,000 on Thursday as the crypto market continued its downward movement that has persisted throughout the week. BTC dipped to $60,815 at around

news BitGo has been tapped to provide custodial services for Europe’s largest exchange by trading volume. Announced Wednesday, Bitstamp will begin to transfer its assets under management to BitGo’s wallets on Oct. 10. Both firms declined to disclose the total amount and which types of assets will be managed. BitGo uses Class III bank-grade vaults…

Terraform Labs Pte. has filed a voluntary petition in Delaware for Chapter 11 bankruptcy, according to documents filed on Jan. 21.The embattled cryptocurrency firm behind the failed stablecoin TerraUSD declared in the filing it has between $100 to $500 million in estimated assets and the same amount in liabilities. TerraUSD, a dollar-pegged cryptocurrency and Terra's

Long-standing and generally accepted financial theory shows that diversification is not only good, but improves expected returns per unit of risk.Unfortunately, the crypto space currently seems to be overlooking this principle.A timely post from the quantitative asset management firm AQR provides a direct "TradFi" equivalent to the problem of under-diversification. In the post, AQR co-founder

news Stablecoins may qualify as “money” under Texas law, according to updated guidance from the state Department of Banking. A memo published Wednesday by Texas Banking Commissioner Charles Cooper outlines how cryptocurrencies are to be treated under local and federal regulations, in particular adding details of how stablecoins backed by sovereign, or fiat, currencies may…

Nikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.The U.S. Securities and Exchange Commission (SEC) told an appeals court that crypto exchange Coinbase hadn't proven the regulator needs to create a new regulatory framework for the digital asset industry late Monday.The federal regulator asked the…

news The venture capital arm of ethereum development studio ConsenSys is continuing to invest in the blockchain and cryptocurrency space with the backing of two early-stage startups. ConsenSys Ventures announced Thursday that it invested $1.15 million investment in zero-knowledge proof (ZKP) cryptography startup Ligero, while Philippines-based cryptocurrency exchange PDAX received an undisclosed sum. Kavita Gupta, founder…

David Z. Morris is CoinDesk's Chief Insights Columnist. He holds Bitcoin, Ethereum, and small amounts of other crypto assets.This week saw the charging and arrest of George Santos, the comically inventive Long Island Congressman. Almost unbelievably, Santos is connected to another apparently inveterate liar: Sam Bankman-Fried, the multiply-indicted founder and former CEO of collapsed crypto…

Celestia, a so-called data availability (DA) solution designed to provide a cheaper alternative for verifying data generated from blockchain transactions, announced Tuesday that it will become an option for blockchain builders using Polygon's software tools to spin up new layer-2 networks atop Ethereum.The integration means that Celestia will be included with Polygon’s customizable software stack