A closely followed crypto analyst believes that two altcoins have the potential to skyrocket by as much as 5x before this cycle is over. Pseudonymous analyst Altcoin Sherpa tells his 228,100 followers on the social media platform X that he’s extremely bullish on the altcoin market. According to the analyst, even average altcoins will see […]
The post Analyst Names Two Altcoins That Can Soar About 600% This Cycle, Updates Outlook on Dogecoin appeared first on The Daily Hodl.
The U.S. District Court for the Northern District of California has denied Kraken’s motion to dismiss a lawsuit by the U.S. Securities and Exchange Commission (SEC). The court determined that the SEC “has plausibly alleged” that certain crypto tokens traded on the Kraken exchange could be considered securities, thereby allowing the case to proceed. Kraken’s […]
The X social media account of the Algorand Foundation’s chief executive has been hacked, marking the third major exploit of crypto-related X accounts this month. In a new thread, the firm behind smart contract platform Algorand (ALGO) has announced that the X account of Staci Warden, the company’s CEO, has been hacked and warns against […]
The post Algorand Foundation CEO’s X Account Compromised As Spree of Crypto Social Media Hacks Continue appeared first on The Daily Hodl.
The United Nations Development Programme (UNDP), which is tasked with eliminating poverty in over 170 countries, wants to educate its 22,000 staff on distributed ledger technology.
A United Nations agency tasked with helping countries eliminate poverty is set to upskill its 22,000 staff in blockchain technology, with the ultimate goal of helping countries achieve “sustainable development” growth.
According to a Nov. 30 statement, the United Nations Development Programme (UNDP) has partnered with the Algorand Foundation to launch a blockchain academy in 2024.
The academy will serve the UNDP's 22,000 staff members across 170 countries, educating them about distributed ledger technology and blockchain, including how it could be used for financial inclusion, supply chain transparency, real-world asset tokenization, and digital identity applications.
During the Algorand Impact Summit in New Delhi, UNDP’s expert for alternative finance and low carbon development, Robert Pasicko, told the audience the partnership will enable the organization to “upskill, empower, and inspire UN practitioners around the world.”
The curriculum will include lectures, workshops, and hands-on assignments and will be “instrumental in equipping our team with the tools needed to address complex global challenges using blockchain technology,” said Pasicko.
Breaking news from #AlgoImpactSummit
— Algorand Foundation (@AlgoFoundation) November 30, 2023
The @UNDP partners with the Algorand Foundation to launch the Algorand Blockchain Academy.
The academy will be made available to over 22,000 United Nations staff in 170+ countries.
https://t.co/wfWBaFOW0E
pic.twitter.com/lCqNEQonrV
Head of education and inclusion at the Algorand Foundation, Doro Unger-Lee, added that education was a “critical first step toward identifying and delivering actionable, on-the-ground use cases of blockchain to help achieve the Sustainable Development Goals in a number of areas.”
SkyBridge Capital founder Anthony Scaramucci is identifying his price targets for Bitcoin (BTC) and Ethereum (ETH). In a new interview with Altcoin Daily, Scaramucci says that the king crypto could hit six figures within a year after Bitcoin’s halving event. “I believe six to 12 months after the halving cycle, there’s no reason why Bitcoin […]
The post Anthony Scaramucci Lays Out Potential Price Targets for Bitcoin and Ethereum, Updates Outlook on Algorand (ALGO) appeared first on The Daily Hodl.
The SEC’s tagging of cryptocurrencies as securities has greatly affected the crypto market causing Algorand and Flow to hit historic lows on June 10.
The United States securities regulator designated a slate of cryptocurrencies as securities in recent lawsuits including Algorand (ALGO) and Flow (FLOW) which hit all-time price lows following the declaration.
On June 10, ALGO and FLOW hit their respective historic lows of $0.098 and $0.46, having dropped around 30% in the past seven days according to CoinGecko data.
Both have slightly rebounded since, with ALGO up over 12.5% and FLOW recovering just over 10.5% since June 10.
Last week the Securities and Exchange Commission (SEC) sued crypto exchanges Binance and Coinbase on June 5 and 6 respectively. In the process, it labeled 16 new cryptocurrencies as securities, including FLOW and Internet Computer (ICP).
ALGO was highlighted in the SEC’s case against Binance but was first singled out in its April lawsuit against Bittrex.
ICP has also seen a drop of about 25% in the past week and is currently trading around $3.65 — just 25 cents off its all-time low of $3.40 from December 2022.
Solana (SOL), Cardano (ADA) and Polygon (MATIC) were also caught up in the SEC’s securities net and the creators of all three have staunchly rebuffed the regulator's claim.
On June 10, Polygon Labs tweeted in response to the SEC’s definition of MATIC without directly addressing the regulator.
Related: SEC charges against Binance and Coinbase are terrible for DeFi
It highlighted that Polygon was developed and deployed outside of the U.S. and MATIC was globally available “with actions that did not target the U.S. at any time.”
We are proud of the history of the Polygon network – developed outside the US, deployed outside the US, and focused to this day on the global community that supports the network. MATIC was a necessary part of the Polygon technology from Day 1, ensuring that the network would be…
— Polygon (Labs) (@0xPolygonLabs) June 10, 2023
The Solana Foundation similarly took to Twitter on June 10 saying it “disagrees with the characterization of SOL as a security.”
Cardano development company Input Output Global (IOG) said on June 7 it was “aware” of the SEC’s definition of ADA and claimed there were “numerous factual inaccuracies” by the regulator.
“Under no circumstances is ADA a security under U.S. securities laws. It never has been,” the firm wrote in a blog post.
Magazine: Tornado Cash 2.0 — The race to build safe and legal coin mixers
Digital assets manager CoinShares says institutional investors are feeling cautious about the market as crypto suffers major outflows for the second week in a row. In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional investors are selling off their crypto holdings amid fears of coming interest rate hikes. “Digital asset investment products saw […]
The post Institutional Investors Sell Off Crypto Holdings Amid Fears of Coming Interest Rate Hikes: CoinShares appeared first on The Daily Hodl.
According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists […]
Members of the crypto community have called out the SEC Chairman for “shilling” Algorand.
A four-year-old video of United States Securities an Exchange Commission (SEC) chair Gary Genser giving praise to smart contract platform Algorand (ALGO) is circulating on Twitter following the SEC declaring ALGO is an unregistered security.
In the video, Gensler referred to Algorand as a “great technology” while he was contemplating whether a “high performance” smart contract network would be capable of integrating an Uber or Lyft-like application on its platform.
ALGO is one of six tokens that Gensler claimed was an unregistered security in the SEC’s lawsuit against crypto trading platform Bittrex on April 17 that took issue with the Algorand Foundation's initial coin offering (ICO) of ALGO in June 2019.
Cryptocurrency researcher Mason Versluis was one of the first to highlight the video in an April 17 tweet criticizing Gensler for “shilling” ALGO, with others calling out the SEC chair for his apparent hypocrisy.
Gary Gensler was SHILLING $ALGO and now he’s trying to call it a security.
— MASON VERSLUIS (@MasonVersluis) April 17, 2023
This dude is all over the place, and he’s gotta go ➡️ pic.twitter.com/JmpL9xAZhq
Gensler’s praise of Algorand was heard by an audience at a Massachusetts Institute of Technology (MIT) “Fintech Beyond Crisis” conference held on April 25, 2019.
Gensler worked as a Professor of Global Economics and Management at MIT prior to becoming the SEC’s chair, he acknowledged former MIT colleague and Algorand founder Silvio Micali in the speech — who appeared to be in the crowd.
The video sparked Cinneamhain Ventures partner Adam Cochran to question the long-standing advice from Gensler for crypto firms to register with the regulator.
6/18
— Adam Cochran (adamscochran.eth) (@adamscochran) April 17, 2023
Surely if there is a path to register, a world renown MIT professor who personally knows the Chairman of the SEC can figure it out, or pick up the phone and call the Chairman...
"Surely if there is a path to register, a world renown MIT professor who personally knows the Chairman of the SEC can figure it out," Cochran tweeted on April 17.
Fox Business reporter Eleanor Terrett expects Gensler to be questioned over his Algorand comments in his upcoming testimony before the U.S. House Committee on Financial Services on April 18.
Other critics choose to mock the situation at hand, highlighting the price decline of ALGO which has seen a 93.8% decline since its launch according to CoinGecko data.
If you bought $100 of Algorand when Gensler told you they could build Uber on it you would now have $5
— db (@tier10k) April 17, 2023
It should be noted that ALGO didn't hit the market until late June 2019, two months after Gensler's speech.
Related: Coinbase and Algorand give divergent reasons for staking reward suspension
Gensler stated in an April 17 tweet that it has been an “honor” to work at the SEC over the last two years and chose to highlight the 1,500 enforcement actions the regulator has undertaken since he's been at the helm.
Serving at the @SECGov for two years has been an honor.
— Gary Gensler (@GaryGensler) April 17, 2023
We’ve filed 1,500 enforcement actions & overseen tens of thousands of registrants.
We’ve proposed rules to make our markets more efficient, competitive, transparent, resilient—and worthy of the public’s trust.
More
Gensler was sworn into office as SEC chair on April 17, 2021, after U.S. President Joe Biden’s nomination of Gensler was confirmed by the Senate on April 14, 2021.
Magazine:Unstablecoins: Depegging, bank runs and other risks loom
The investor who accurately called the bottom of the crypto bear market says that 2,200% gains could be in store for one trending altcoin. Chris Burniske, partner at venture capital firm Placeholder, says that Stacks (STX), a project aiming to boost the utility of Bitcoin (BTC), has a lot more upside potential than people realize. […]
The post Venture Capitalist Says 2,200% Gains Possible for One Crypto Asset, Names Dogecoin Among Interesting Altcoins appeared first on The Daily Hodl.
