This week on The Market Report, the resident experts at Cointelegraph discuss why the United States Securities and Exchange Commission is going after crypto staking and why stablecoins have been in the news recently.
We start off this week’s show with the latest news in the markets:
SEC lawsuit against Paxos over BUSD baffles crypto community
On Feb. 13, the SEC issued a Wells Notice to 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 halt the issuance of BUSD. This led to various members of the crypto community taking to Twitter to give their takes on the situation. From disregarding the issue as “FUD” to calling it an attack against the Binance exchange, crypto community members laid down various theories on 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 Ordinal-ry: 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, driven by the launch of nonfungible token (NFT) protocol Ordinals in January 2023. As Cointelegraph reported, participants from the Bitcoin mining ecosystem have already made over $600,000 processing transactions of Ordinals, which have been dubbed as Bitcoin-based NFTs. Our experts discuss why this is a significant moment for Bitcoin and also explain what Ordinals actually are.
Our experts cover these and other developing stories, so make sure you tune in to stay up-to-date on the latest in the world of crypto.
Next up is a segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Leverage.
Market expert Marcel Pechman then carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or…