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The Biturai crypto encyclopedia: AI-assisted, data-informed, and continuously quality-audited.
The Gary Gensler Era at the SEC and Regulation-by-Enforcement
During Gary Gensler's tenure as Chair, the U.S. Securities and Exchange Commission adopted a strategy of regulating the crypto market primarily through enforcement actions. This approach involved pursuing legal cases against crypto firms
Do Kwon: The Rise and Fall of Terra-Luna's Founder
Do Kwon, the visionary behind the Terra-Luna cryptocurrency ecosystem, orchestrated one of the most significant collapses in crypto history, wiping out $40 billion. His story serves as a stark warning about the inherent risks and
The Bitwise Fake Volume Report 2019 and Crypto Wash Trading
The Bitwise Fake Volume Report of 2019 exposed that a vast majority of reported cryptocurrency trading volume was fabricated through wash trading, fundamentally distorting the perceived size and health of the crypto market. This deceptive
The Bitfinex LEO Token Emergency Sale Following the Crypto Capital Scandal
The UNUS SED LEO (LEO) token was launched by iFinex, the parent company of Bitfinex, as an emergency measure in 2019. This utility token was created to address a significant financial shortfall caused by the seizure of funds from
The Frax and Fractional-Algorithmic Stablecoin Model Evolution
Frax represents a pioneering approach to stablecoins, combining collateralization with algorithmic adjustments to maintain its peg. This model offers a unique blend of stability and decentralization, distinguishing it from fully
The Collapse of Basis Cash and Empty Set Dollar Algorithmic Stablecoins
Algorithmic stablecoins like Basis Cash and Empty Set Dollar aimed to maintain a stable value without traditional collateral, relying instead on complex tokenomics. Their eventual collapse highlighted the inherent fragility of such designs
The History of Stablecoin Depegs: A Comparative Chronicle
A stablecoin depeg occurs when a stablecoin loses its intended 1:1 parity with its underlying asset, such as the U.S. dollar, trading significantly above or below its fixed value. Understanding the diverse causes and historical instances
Bitcoin's 2013 Surge and the Cyprus Banking Crisis
The Cyprus banking crisis of 2013 was a pivotal moment for Bitcoin, demonstrating its potential as an alternative store of value outside traditional financial systems. This event propelled Bitcoin from an obscure digital curiosity into the
The SEC's SAB 121 Accounting Guidance and Its Repeal
Staff Accounting Bulletin 121 (SAB 121) required financial institutions to record crypto assets held for customers as both an asset and a liability on their balance sheets. Its recent repeal by the SEC removes a significant barrier for
Paul Atkins' SEC Chairmanship and the 2025 Crypto Policy Shift
Paul Atkins' tenure as SEC Chair in 2025 marked a significant pivot in US crypto regulation, introducing "Project Crypto" to establish a rational framework for digital assets. This initiative aimed to integrate blockchain technology into
The FIT21 Act and US Crypto Market Structure Legislation
The Financial Innovation and Technology for the 21st Century Act, known as FIT21, represents a significant legislative effort to establish a clear regulatory framework for digital assets in the United States. This bill aims to delineate
USDT Delisting Pressure in the EU Under MiCA
The European Union's Markets in Crypto-Assets Regulation (MiCA) has led to significant pressure on stablecoins like Tether's USDT. Major EU-regulated exchanges have delisted USDT for European customers because Tether did not seek MiCA
The MiCA Implementation Roadmap: EU Crypto Regulation 2024-2025
The Markets in Crypto-Assets Regulation (MiCA) is the European Union's landmark framework for crypto-asset regulation. It introduces a phased implementation schedule for stablecoins and crypto-asset service providers across all 27 member
The FATF Travel Rule: Introduction and Crypto Implications
The FATF Travel Rule, originally for traditional wire transfers, now mandates crypto service providers to share customer data for transactions. This global regulation aims to combat financial crime by increasing transparency in the digital
Prometheum and the Crypto Securities License Debate
Prometheum is a pioneering digital asset market infrastructure provider, uniquely positioned as the first entity to receive a special-purpose broker-dealer approval from the U.S. Securities and Exchange Commission (SEC). Its core mission
The SEC's 2023 Settlement with Kraken on Staking Services
Kraken, a prominent cryptocurrency exchange, settled charges with the U.S. Securities and Exchange Commission in February 2023. The SEC alleged that Kraken failed to register its crypto asset staking-as-a-service program as a securities
Justin Sun's Strategic Influence: TUSD Stabilization and Huobi Leadership
Justin Sun's involvement with TrueUSD and Huobi highlights his significant influence in the crypto ecosystem. His strategic interventions stabilized TUSD during a liquidity crisis and solidified his leadership at the Huobi exchange,
Texas Bitcoin Mining and the ERCOT Power Grid Phenomenon
Texas has emerged as a global hub for Bitcoin mining and energy innovation, driven by the unique deregulated structure of its ERCOT power grid. This dynamic environment allows Bitcoin miners to act as flexible loads, potentially
The 2021 Bitcoin Mining Stock Boom: Marathon, Riot, and Hut 8
The 2021 surge in Bitcoin mining stocks like Marathon Digital, Riot Platforms, and Hut 8 Mining reflected heightened investor interest and Bitcoin's price rally. These companies offered leveraged exposure to the cryptocurrency market, but
The GAW Miners and Paycoin Fraud of Josh Garza
Josh Garza orchestrated a significant cryptocurrency scam through GAW Miners and Paycoin, defrauding investors with promises of lucrative bitcoin mining and a stablecoin with a guaranteed price. His operations were later exposed as a Ponzi