Decentralized Cloud Computing Altcoin Skyrockets in Price After Completion of Successful Mainnet Upgrade
A decentralized cloud computing altcoin has surged by 44% since it completed a mainnet upgrade on May 2nd. Akash Network (AKT) is trading at $5.76 at time of writing, up from around $4.00 prior to rolling out its “Mainnet 11” version earlier this month. The 73rd-ranked crypto asset by market cap is also up nearly […]
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Billionaire Mark Cuban Warns Gensler’s SEC Crypto Policies Could Cost Biden the Election
Billionaire Mark Cuban has criticized U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s handling of crypto regulations, suggesting it could harm Biden’s election chances. “Gensler has not protected a single investor against fraud,” he stressed. “All he has done is make it nearly impossible for legitimate crypto companies to operate.” ‘This Is Also a […]Veteran Trader Peter Brandt Warns of SEC’s Full-Scale Assault on Crypto Staking — ‘It’s Going to Be a Bloodbath’
Veteran trader Peter Brandt has predicted a severe regulatory crackdown on cryptocurrency staking by U.S. regulators, including the Securities and Exchange Commission (SEC). “It’s going to be a bloodbath,” he warned, cautioning that he believes it is “illegal as hell” and will be “attacked with all-out vengeance.” ‘It’s Going to Be a Bloodbath’ Veteran trader […]US Treasury Accused of Spying on Americans’ Bank Transactions in Secret Surveillance Program As Secretary Yellen Confirms ‘Communications Took Place’
US Treasury Secretary Janet Yellen is responding to accusations that the US government and more than a dozen financial institutions have teamed up to spy on Americans’ private bank transactions. The House Judiciary Committee recently published a memo accusing the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) of urging banks to surveil their customers’ transactions […]
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US Regulatory Clarity for Crypto: Landmark Legislation FIT21 Act Heads to House Vote
The House Committee on Rules has decided to review the Financial Innovation and Technology for the 21st Century (FIT21) Act, paving the way for a floor vote later this month. The legislation sets a path for enhanced regulatory clarity in the U.S. crypto ecosystem, balancing robust consumer protections with the needs of a burgeoning digital […]Peter Schiff: Gold, Silver ‘Ready to Explode Higher’ — Sees ‘Biggest Precious Metals Bull Market in History’
Gold advocate and economist Peter Schiff has predicted an explosive rise in gold and silver prices. While encouraging investors to “Take advantage of what could be the biggest precious metals bull market in history,” Schiff calls bitcoin “dead money,” expecting outflows from spot bitcoin exchange-traded funds (ETFs) to “soon put significant downward pressure on bitcoin.” […]SEC, Ripple case nears conclusion, Grayscale withdraws ETF filing, and more: Hodler’s Digest, May 5-11
SEC files final response in its case against Ripple, Grayscale withdraws futures ETH ETF filing, and dormant BTC wallet wakes up after 10 years.
The U.S. Securities and Exchange Commission has filed a remedies brief challenging Ripples position over penalties in their ongoing legal battle. The SEC seeks substantial fines against Ripple following Judge Torres ruling that XRP isnt a security in programmatic sales. Ripple contends that any fines shouldnt exceed $10 million, citing the absence of fraudulent intent. On the other hand, the agency insists Ripple misinterpreted the courts order and downplayed its liability. Both parties are now awaiting a final ruling. Ripple chief legal officer Stuart Alderoty criticized the SEC, arguing that its reputation continues to decline.
Grayscale has withdrawn its 19b-4 application for an Ether futures exchange-traded fund just three weeks before the U.S. Securities and Exchange Commission was set to decide on it. On May 7, the cryptocurrency asset manager filed a notice of withdrawal for the Grayscale Ethereum Futures Trust with the SEC, which was scheduled to make a decision on May 30. Traders rushed to short Ether after the announcement. Analysts believe the futures ETF application was a trojan horse to corner the agency into approving its spot Ether ETF proposal. As May 23 approaches, analysts are more skeptical about the SECs approval of a spot Ether ETF.
A dormant Bitcoin address containing 687 BTC ($43.9 million), dating back to the era when Satoshi Nakamoto was still active, has woken up after 10 years. On May 6, it transferred its holdings to two different wallets, sparking curiosity among the crypto community. While speculation often links these wallets to Satoshi themself, experts believe they are more likely owned by early miners or buyers. Notably, 1.75 million Bitcoin wallets have remained inactive for over a decade, holding approximately $121 billion worth of BTC at current prices.
Franklin Templeton CEO says all ETFs and mutual funds will be on blockchain
She also warned that generative artificial intelligence was like the “kid that got an ‘F’ in math.”
Jenny Johnson, the CEO and President of Franklin Templeton, a financial firm with $1.6 trillion in assets under management, recently reiterated her pro-blockchain stance during an interview with Bloomberg anchor David Westland during the 27th Annual Milken Institute Global Conference in California.
Among the hot topics discussed by the two, Johnson had plenty to say on the subjects of tokenization and generative artificial intelligence.
When asked how Franklin Templeton benefited from tokenizaiton, Johnson was quick to reply. “First of all, I am a huge fan of blockchain and the technology.”
Kraken Asks Court To Dismiss SEC Claims Alleging the Crypto Exchange Operated As Unregistered Securities Broker
The crypto exchange Kraken is pushing back against claims made by the U.S. Securities and Exchange Commission (SEC). In November, the SEC charged Kraken with operating its crypto trading platform as an unregistered securities exchange, broker, dealer and clearing agency. Earlier this year, Kraken filed in US District Court to dismiss those charges, and the company […]
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US Justice Department Chooses FRA Over Sullivan & Cromwell for Binance Oversight
The Justice Department has designated Forensic Risk Alliance (FRA) as the external monitor for Binance Holdings Ltd. This decision comes in the wake of Binance’s acknowledgment of breaching U.S. anti-money laundering regulations and sanctions. Bloomberg’s Ava Benny-Morison and Chris Strohm were the first to report this development. Known for its expertise in fraud investigations and […]JPMorgan Chase Blocks $100 Chocolate Purchase, Approves $49,000 Illicit Wire Transfer – Here’s Why the Bank Is Refusing To Reimburse
A couple in Atlanta says one phone call led to their entire life savings being drained from their JPMorgan Chase bank account. Gloria and Gary Moss tell FOX 5 that they felt secure after Chase blocked a $100 purchase for chocolate months ago, requiring further confirmation for the transaction to go through. But on February […]
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SEC Opposes Coinbase’s Appeal Request in Ongoing Legal Battle
The U.S. Securities and Exchange Commission (SEC) has urged a federal court to deny Coinbase’s interlocutory appeal, following a recent court decision that allowed a lawsuit involving the SEC and the cryptocurrency platform to proceed. Last month, Coinbase sought appellate review after failing to get the case dismissed, marking a significant development in the ongoing […]Jack Dorsey Predicts Bitcoin Will Skyrocket to ‘At Least $1,000,000’ by 2030: Report
Billionaire and tech entrepreneur Jack Dorsey expects big things from Bitcoin (BTC) in the next six years. In a new interview with tech-focused news site Pirate Wires, the Twitter co-founder predicts that the top crypto asset will skyrocket to “at least” $1 million by 2030. “I do think it hits that number and goes beyond. […]
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Solana’s Defi Landscape to Shift With Marginfi’s Introduction of YBX Stablecoin
The decentralized lending protocol built on the Solana blockchain, Marginfi, announced the upcoming launch of YBX, which is expected to be the first notable decentralized stablecoin on Solana, aiming to provide an alternative to the network’s heavy reliance on Circle’s centralized stablecoin usd coin (USDC). The stablecoin, backed by SOL-based liquid staking derivatives (LSDs), is […]OKX Ventures invests in Web3 ‘play ARPG to train AI’ game Blade of God X
The game is currently available in early access on the Epic Games Store.
Crypto and Web3 investment fund OKX Ventures recently invested in the Void Labs action role-playing game “Blade of God X,” an early access title with a purported ‘play … to train” feature allowing gamers to steer an artificial intelligence (AI) model’s training through gameplay.
According to a press release from OKX Ventures, the play-to-train concept “not only merges advanced AI agents with blockchain technology, but also allows players to train their AI agents through gameplay.”
Related: Experimental DAO with ‘leadership-as-a-service’ strategy to launch on live event
Wells Fargo Employee Sanctioned After Allegedly Stealing Funds From Customers, Refusing To Cooperate With Investigation
The Financial Industry Regulatory Authority (FINRA) is barring a former Wells Fargo broker who’s accused of stealing funds from clients. In a letter of acceptance, waiver and consent (AWC), the regulator says ex-Well Fargo employee Andrew J. Egber violated two FINRA rules when he deliberately ignored requests to cooperate in an investigation. Last month, Wells Fargo […]
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Bitcoin Network Adjusts to Lower Fees and Reduced Hashrate After Latest Halving
Based on the three-day simple moving average, Bitcoin’s hashrate has continued its downward trend, registering at about 550 exahash per second (EH/s). Following the halving, onchain costs have decreased significantly, with data indicating transfer fees ranging from $1.50 to $3.65 per transaction. Bitcoin’s Hashrate Slides 19% in 16 Days According to statistics, the three-day simple […]Bitcoin volatility plunges below Tesla, Nvidia stocks amid $100K price prediction
Lower Bitcoin market volatility often precedes significant bull runs, suggesting that the current trend could propel prices toward the $100,000 to $150,000 range.
Bitcoin’s (BTC) volatility in the annual timeframe has dropped below that of top tech stocks, including Tesla, Meta, and Nvidia, signaling its growth toward becoming a more mature and stable asset class.
As of May 11, Bitcoin’s 1-year realized volatility, which represents the standard deviation of returns from the mean return of a market, was at around 44.88%. In comparison, the annualized realized volatility of “magnificent seven” stocks such as Tesla, Meta, and Nvidia was over 50%.
Moreover, Bitcoin has shown relatively lower volatility compared to 33 of the roughly 500 companies in the S&P 500 index, noted Fidelity Investment in its latest report.
JPMorgan’s Onyx to industrialize blockchain PoCs from Project Guardian
Traditional firms like JPMorgan and WisdomTree are seeking to turn Project Guardian’s blockchain proofs-of-concept into scalable financial products.
Wall Street giants are looking at how to industrialize proofs-of-concept developed within the blockchain experiment Project Guardian.
According to Stephanie Lok, product manager of JPMorgan’s blockchain platform Onyx, one of the company’s “very big focus area” is turning the learnings of the pilot program with the Monetary Authority of Singapore (MAS) into products. Lok shared these details during the TokenizeThis event in Miami on May 10:
Another traditional firm “really focusing on the blockchain-enabled finance migration” is the asset manager WisdomTree. Speaking at the event, Maredith Hannon, head of business development for WisdomTree, said the company is targeting portfolio personalization in addition to blending portfolios with checking accounts.
Ethereum Competitor NEAR Protocol Looks ‘Extremely Bullish,’ Says Analyst Jamie Coutts – Here Are His Targets
Real Vision crypto analyst Jamie Coutts says that key indicators for one Ethereum (ETH) competitor are flashing bullish. The former Bloomberg analyst tells his 14,100 followers on the social media platform X that NEAR Protocol (NEAR) could soar more than 47% from its current value. “Absolute price momentum: has been consolidating since March. The technical […]
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Crypto Exchanges Helping Brazilian Flood Victims
Several cryptocurrency firms are stepping up to support flood victims in Southern Brazil. For example, Okx has partnered with Brazilian cryptocurrency exchange Foxbit to match donations of up to $10,000 to the “Ajude o Rio Grande do Sul” emergency campaign, channeling funds to non-governmental organizations (NGOs) in the affected areas. Similarly, Bingx is doubling cryptocurrency […]Stablecoin Market Stabilizes at $160 Billion; FDUSD and PYUSD Lead Growth
Over the past 19 days, the stablecoin economy has stabilized with negligible growth after reaching the $160 billion threshold at April’s end. Out of the top five, FDUSD is currently the frontrunner in terms of 30-day growth, showing a 15.3% increase in supply. Stablecoin Valuation Holds Steady With Little Growth Following a period of rapid […]NFT Sales See Week-Over-Week Decline as Market Continues to Cool
Non-fungible token (NFT) sales from May 4 to May 11, 2024, saw an 11.35% decline compared to the previous week’s figures. Leading the sales, Bitcoin-based NFT transactions totaled $49.8 million, yet this was a 13% decrease from the preceding week. NFT Marketplace Struggles as Sales Dip for Another Week As another week concludes, the metrics […]Interpol Nigeria boosts cybersecurity with virtual asset training
The training will enable officers to effectively address cybercrimes involving virtual assets, particularly stablecoins.
The Nigerian Interpol, cybersecurity experts, and other members of the local intelligence community met to brainstorm ways to tackle the rising waves of cybercrime in the country.
The brainstorming, which took place in the nation’s capital, Abuja, under the training platform organized by A&D Forensics in partnership with the Africa Stablecoin Consortium, was said to have been designed to position the Nigerian Interpol on how to mitigate crimes involving virtual assets, particularly stablecoins.
According to blockchain specialist Chioma Onyekelu, the training session aimed to empower Interpol agents with the skills to leverage blockchain intelligence and analysis in tracing and prosecuting cybercriminals involved in cryptocurrency transactions, specifically those using Bitcoin and stablecoins.
Bitcoin halving ‘danger zone’ has 2 days left with BTC price retesting $60K
Bitcoin has almost completed its prime BTC price drawdown phase after April’s halving, the latest analysis confirms.
Bitcoin (BTC) challenged $60,000 support into the May 10 daily close as the classic post-halving “danger zone” spooked bulls.
Data from Cointelegraph Markets Pro and TradingView showed intraday BTC price lows of $60,190 on Bitstamp.
A sudden drop foiled attempts to hold levels around $63,000, with explanations mixed as to the impetus behind it.
Crypto Analyst Says These Memecoins Could Be the ‘Largest Narrative’ Amid the November US Elections
A widely followed crypto trader says that the build-up to the US presidential election in November could send two memecoins soaring. Pseudonymous crypto analyst Altcoin Sherpa tells his 216,000 followers on the social media platform X that meme tokens MAGA (TRUMP) and Jeo Boden (BODEN) could outperform due to election year excitement. TRUMP is inspired […]
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Bitcoin Miner Cleanspark’s Net Income Tops $126.7 Million in ‘Record-Breaking’ Quarter
In the first quarter of 2024, Cleanspark, a U.S. bitcoin mining company listed on the stock market, reported revenues exceeding $111.8 million. The company’s net income for the same period was $126.7 million. Gary A. Vecchiarelli, the CFO of Cleanspark, partially attributes the company’s “record-breaking” performance to the surge in bitcoin prices. Impact of Bitcoin […]What is cryptocurrency insurance, and how does it work?
Learn how cryptocurrency insurance protects your digital assets from theft, hacks and other risks. Understand the coverage options and how this specialized insurance works.
Cryptocurrency insurance acts as a safety net for various stakeholders in the digital asset market, including individuals, companies and institutional investors.
The purpose of cryptocurrency insurance, also known as digital asset insurance or crypto coverage, is to reduce the risks involved in trading, storing or possessing cryptocurrencies and other digital assets.
This Chainlink Competitor Could Explode by up to 230% From Current Level, Says Arthur Hayes-Linked Crypto Fund
Maelstrom Fund, an early-stage crypto investment fund operated by Arthur Hayes’ family office, is expressing bullish sentiment on a relatively new blockchain oracle digital asset. The early-stage fund says that Chainlink (LINK) rival Flare (FLR) is “likely undervalued” currently. “Chainlink’s early mover advantage has given it a sizable head start, with countless projects having already […]
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Binance to be under FRA surveillance for next 3 years: Report
International consultancy firm Forensic Risk Alliance will reportedly closely oversee all compliance activities of cryptocurrency exchange Binance for the next three years.
The United States Department of Justice (DOJ) has reportedly appointed international consultancy firm Forensic Risk Alliance (FRA) to ensure cryptocurrency exchange Binance complies with regulatory requirements over the next three years, according to sources familiar with the matter.
Appointing a third-party firm to monitor the exchange’s compliance over the next three years was a key requirement of Binance’s plea deal in November 2023, where it pleaded guilty to money laundering and other federal charges, along with receiving a $4.3 billion fine.
FRA will have access to internal records, premises, and employees to provide the DOJ with updates on the company’s activities, according to a May 10 Bloomberg report.