News Bytes – 2

Indian Authority Uncovers Large-Scale Crypto and Hawala Operation, Arrests Key Player

June 21, 2024 Bitcoin.com

bitcoin.com

India’s Directorate of Enforcement (ED) has arrested Manideep Mago under the Prevention of Money Laundering Act (PMLA), 2002, in connection with an “illegal foreign remittances case” involving cryptocurrency. The investigation uncovered that a Delhi-based company sold cryptocurrencies worth over Rs. 1858 crore ($223 million) on crypto exchanges and made foreign remittances exceeding Rs. 3500 crore. […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

Australian Regulator Appeals Court Decision Exempting Block Earner From Penalty

June 20, 2024 Bitcoin.com

ASIC

Australian Securities and Investments Commission (ASIC) stated on Tuesday that it had appealed the federal court’s decision to relieve Web3 Ventures Pty Ltd., trading as Block Earner, from liability to pay a penalty for offering unlicensed financial services through its crypto-related Earner product. On June 4, the court found Block Earner’s contraventions serious but exempted […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments

June 20, 2024 Bitcoin.com

bitcoin.com

The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

Ripple CEO: Pro-Crypto Stance Will Win Votes in Upcoming Elections

June 18, 2024 Bitcoin.com

Bitcoin

Ripple CEO Brad Garlinghouse expressed his view on the political landscape in the U.S. regarding cryptocurrency regulation on social media platform X on Monday. “You’ll hear this a lot more in the next few months in the U.S. — candidates will only gain votes for being pro-crypto, and absolutely lose them for being anti-crypto. There’s […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

Bank of America Predicts Bullish Trend for Silver, Prices to Hit $35/oz by 2026

June 18, 2024 Bitcoin.com

Bank of America

Bank of America (BOFA) forecasts a bullish trend for silver, anticipating an increase in prices through the latter half of 2024 into 2025. BOFA analysts project silver prices to average $35/oz by 2026, compared to the current spot price of $29.19/oz. This optimistic outlook is driven by expectations of an end to central bank interest […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

Financial Stability Board Emphasizes Need for Global Crypto Regulation to Prevent Arbitrage

June 18, 2024 Bitcoin.com

bitcoin.com

The Financial Stability Board (FSB) Plenary met in Toronto on June 14 to discuss various financial stability issues. Key topics included the financial stability outlook, lessons from the March 2023 banking turmoil, and enhancing the resilience of non-bank financial intermediation (NBFI). The FSB also reviewed progress on implementing its global regulatory framework for crypto asset […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

JPMorgan Questions Sustainability of $12 Billion Crypto Inflows

June 17, 2024 Bitcoin.com

Bitcoin

JPMorgan analysts have raised concerns about the sustainability of the $12 billion year-to-date inflow into crypto assets, given the current high bitcoin prices relative to production costs and gold. The substantial inflows this year have been primarily driven by spot bitcoin exchange-traded funds (ETFs). However, much of this inflow represents a shift from crypto wallets […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

US-Listed Bitcoin Miners Hit Record Market Cap of $22.8 Billion, JPMorgan Says

June 17, 2024 Bitcoin.com

Bitcoin

As of June 15, U.S.-listed bitcoin miners have reached a record market capitalization of $22.8 billion, according to global investment bank JPMorgan. This surge is led by significant gains in stocks like Core Scientific, Terawulf, and Iren. The overall sector market cap has increased by 24% since the end of May, partly due to a […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

US Supreme Court to Hear Nvidia’s Bid to Dismiss Crypto-Related Lawsuit

June 17, 2024 Bitcoin.com

Appeal

The U.S. Supreme Court has agreed to hear Nvidia’s appeal to dismiss a securities fraud lawsuit accusing the company of misleading investors about its sales to the cryptocurrency industry. Nvidia’s appeal follows a lower court’s decision to revive a class-action lawsuit. The suit alleges that Nvidia and its CEO, Jensen Huang, downplayed the impact of […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas

Fed President Kashkari Finds Bank of America’s December Rate Cut Prediction Reasonable

June 17, 2024 Bitcoin.com

Bank of America

Minneapolis Federal Reserve President Neel Kashkari addressed Bank of America’s prediction for a potential Fed interest rate cut this year in an interview with CBS News on Sunday. Bank of America predicts that the Fed will cut rates once this year, likely in December. “I think that’s a reasonable prediction,” Kashkari said, noting that it […]

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Solana ETF possible with a change in POTUS, SEC: Balchunas