CoinDesk

The Wemix token is trading 90% lower than this time last month after it was delisted by several exchanges.

2022 has been a difficult year for cryptocurrency. Coming off euphoric highs from the year before, the crypto market has endured an environment of tightening monetary policy, which led to sell-offs, implosions of new projects like TerraLuna, bankruptcies of CeFi companies like Celsius and Voyager Digital and a climactic downfall of the FTX exchange.

The latest price moves in bitcoin (BTC) and crypto markets in context for Dec. 8, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

The European Commission is going a step further than its crypto law MiCA as it seeks to tackle tax evasion

Virtual asset service providers will be covered by terror financing and anti-money laundering rules as of June next year.

The breakdown of the ascending trendline corresponding with previous bear market lows looks horrible, one portfolio manager said.

A California district judge decided to dismiss the motion because the complaint was not able to supply sufficient facts.

The move had been “well under way” prior to the collapse of FTX and heightened scrutiny of centralized exchanges.

PayPal has expanded its service for buying and selling crypto to Luxembourg in what may open the door for it to be offered in other European Union countries.

Deribit was busier than ever as FTX-induced uncertainty boosted demand for options or hedging instruments.

Celsius filed a motion in September to return crypto to customers who held assets in such accounts.

The DJs and NFT enthusiasts are teaming up on an “audio-visual IRL-meets-metaverse supergroup.”

The Senate Banking Committee is “prepared” to subpoena FTX founder Sam Bankman-Fried if he does not voluntarily appear at a committee hearing about the collapse of FTX, its leaders said Wednesday.

Crypto Twitter wanted to know the potential consequences of having Alameda and Sam Bankman-Fried as partners in a fund. So we asked a Hong Kong-based lawyer who specializes in asset tracing and recovery; bitcoin dips but not much.

The chairman said the agency has the basic disclosure and governance requirements to hold digital-asset firms accountable, although he did not address the fallout from crypto exchange FTX’s collapse. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.

A hearing on what happened to FTX is scheduled to take place on Tuesday.

This “Merge” will mark the second time in blockchain history that a chain swaps out its old model for proof-of-stake

CPP Investment has nearly $400 billion in assets under management.

Inspired by ConstitutionDAO’s attempt last year, the unaffiliated ConstitutionDAO2 raised $34,000 in public contributions on its first day.

Analysts previously estimated Coinbase’s annual revenue in 2022 to drop to roughly $3.3 billion this year.

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), isn’t waiting for new powers from Congress in order to enforce securities laws against crypto companies, though he said Wednesday that it would be good to have more money and additional reach beyond U.S. borders.

Sen. Cynthia Lummis (R-Wyo.) discusses why the fall of FTX could have been prevented had proper regulation been in place and why she considers Ethereum a security.

The country joins other jurisdictions in proposing standards for stablecoin issuance.

The proposal period will be open until January 31, 2023 for financial institutions and technology solution providers.

Rikesh Thapa is accused of bilking his start-up firm of over $1 million in U.S. currency, cryptocurrency and utility tokens.

The former wonder boy could be behind bars for the rest of his life, according to U.S. federal sentencing guidelines.

More than 41,000 Brazilian firms conducted some form of operation with crypto assets, according to the local tax authority, Receita Federal.

The institutional crypto brokerage has been in talks with creditors and potential investors since the collapse of exchange FTX.

Raymond James is the latest Wall Street firm to cut its rating on the stock, following Morgan Stanley’s move earlier this week.

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