This week on The Market Report, Cointelegraph’s resident experts discuss why the US Securities and Exchange Commission is going after cryptocurrency staking and why stablecoins have been in the news recently.
We start this week’s program with the latest news in the markets:
SEC Lawsuit Against Paxos Over BUSD Baffles Cryptocurrency Community
On February 13, The SEC issued a notice of pits to the Paxos Trust Company, which issues the Binance USD (BUSD) stablecoin, alleging that the stablecoin is an unregistered security.. On the same day, the New York Department of Financial Services ordered Paxos to stop issuing BUSD. This led several members of the cryptocurrency community to take to Twitter to give their opinion on the situation. From dismissing the matter as “FUD” to calling it an attack against cryptocurrency exchange Binance, members of the cryptocurrency community put forward various theories around the allegations that BUSD is an unregistered security. We take a look at some of these theories and offer some of our own.
Out of the Ordinary: Bitcoin Average Block Size Hits All-Time High
Bitcoin’s average block size has hit all-time highs above 2.5 megabytes for the first time since its inception in 2009, spurred by the launch of the Ordinals non-fungible token (NFT) protocol in January 2023.. As Cointelegraph reported, participants in the Bitcoin mining ecosystem have already earned more than $600,000 processing Ordinals transactions, which have been dubbed Bitcoin-based NFTs. Our experts discuss why this is a significant moment for Bitcoin and also explain what Ordinals really are.
Our experts cover these and other stories in the making, so be sure to tune in for the latest in the world of cryptocurrency.
Up next is a segment called “Cryptocurrency Quick Tips,” which aims to give newcomers to the cryptocurrency industry quick and easy tips to get the most out of their experience. This week’s tip: Leverage.
Next, Markets expert Marcel Pechman takes a close look at the Bitcoin (BTC) and Ether (ETH) markets. Are current market conditions bullish or bearish? What are the prospects for the coming months? Pechman explains everything to us.
Finally, we have the opinions of Cointelegraph Markets Pro, a platform for cryptocurrency traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week, so be sure to tune in to find out which ones made the cut.
Do you have a question about a currency or topic that we have not covered here? Don’t worry: join the YouTube chat room and write your questions there. The person with the most interesting comment or question will have a chance to win a one-month subscription to Markets Pro worth $100.
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