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Why is Elon Musk firmly against creating crypto tokens for his companies?
8.11.2023
Who does not know the name ‘Elon Musk’ and his influence in the crypto space? He was one of the whales in driving the price up for BTC and DOGE during the 2020 crisis. Other than the crypto world, he is known for his electric cars at Tesla and rocket launches at SpaceX. Many crypto …
Convicted Sam Bankman-Fried’s Legal Battles Rage On Amidst SEC, CFTC Charges, and Class Action Fury
8.11.2023
Sam Bankman-Fried was convicted on all charges in the Department of Justice’s fraud case against the ex-FTX chief, but his legal woes are far from over. He is also under pressure from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which have...
Crypto Regulation News Weekly Digest: SafeMoon Executive Charges and FinCEN’s Mixing Service Proposal
7.11.2023
Last week saw major regulatory actions against crypto mixing services and alleged fraud along with pushback from lawmakers. Image by Andrii, Adobe Stock. The cryptocurrency industry increasingly finds itself under the purview of regulators striving to balance innovation with consumer protection...
SEC’s Efforts to Hire Crypto Experts Thwarted by Own Crypto Ownership Policy
7.11.2023
SEC policies against staff owning crypto make hiring industry specialists difficult. Image by Kristina Blokhin, Adobe Stock. The U.S. Securities and Exchange Commission (SEC), known for its stringent regulatory oversight of the finance sector, is facing an ironic hurdle as its own policies...
November Marks Rare Awakening of 2 Vintage 2010 Bitcoin Wallets Valued at $3.4 Million
7.11.2023
Bitcoin has surged over 24% against the U.S. dollar this month, and on November 7, 2023, an intriguing event took place: two dormant bitcoin addresses from 2010 were activated and transferred roughly 100 BTC, valued at $3.4 million according to the current bitcoin exchange rates. While 100 BTC...
BRC20 Token ORDI Skyrockets Over 40% as Binance Announces Listing
7.11.2023
On Tuesday, the BRC20 token, dubbed ordinals (ORDI), soared over 40% against the U.S. dollar, fueled by news from Binance about its impending inclusion on the exchange’s roster of traded currencies. ORDI rocketed from an early 24-hour low of $7 to a peak of $11.53, settling at $10.48...
Crypto Influencer ‘Bitboy’ Files New Lawsuit, Aims to Reclaim “Stolen” Lamborghini
7.11.2023
Ben Armstrong. Source: a video screenshot, YouTube Crypto YouTuber Ben Armstrong has filed another lawsuit against his ex-colleagues, over a Lamborghini and alleged racketeering. Armstrong, formerly known as Bitboy, filed the lawsuit on November 1 in the Superior Court of Cobb County, Georgia, USA....
Bitcoin & Ethereum soar after appreciating against USD & Gold
6.11.2023
Glassnode recently revealed data regarding Bitcoin and Ethereum. It solidified what investors have already witnessed for the past several months. Both Bitcoin and Ethereum have expanded their dominance across the financial market. The cryptocurrencies have secured massive appreciation against gold...
Senator Lummis Takes a Stand Against SEC’s Crypto Crackdown, Says the Commission is “Overreaching”
6.11.2023
Senator Cynthia Lummis (R-Wyo.) has voiced opposition to the Securities and Exchange Commission’s ongoing crackdown on the cryptocurrency industry. In an interview with Yahoo Finance, she expressed her concerns about the regulatory agency’s actions and vowed to block one of...
SEC Clashes With Do Kwon and Terraform Labs in Court, Alleging ‘Clear, Undisputed’ Fraud
6.11.2023
Last week, lawyers representing Terraform Labs and its ex-CEO Do Hyeong Kwon (Do Kwon) moved to dismiss the lawsuit brought against them by the U.S. Securities and Exchange Commission (SEC). In response, the SEC has countered with a motion of its own, asserting the accountability of both...
Smart Contract Platform Tokens Command 26% of Crypto Economy Amidst Market Gains
5.11.2023
It’s been a strong week for smart contract platform tokens, with the top ten performers all notching growth against the U.S. dollar. The rise ranged from ethereum’s (ETH) 4.2% jump to solana’s (SOL) 32.5% surge. The smart contract coin sector witnessed 32 crypto assets...
Crypto Gainers and Losers: This Week’s Market Snapshot
4.11.2023
This week, while bitcoin and ethereum decelerated, they still managed a modest uptick of 2-3% against the U.S. dollar. Meanwhile, a roster of around 50 cryptocurrencies recorded double to triple-digit gains during the same seven-day span. In the race of gains from Saturday, October 28, to Saturday...
Bitcoin Price Prediction as BTC Challenges $36,000 Resistance: Is a Breakout Imminent?
4.11.2023
Bitcoin ‘s tenacious battle against the $36,000 resistance mark has captured the attention of investors and analysts alike, with the cryptocurrency exhibiting marginal gains of 0.02% to position itself at $34,730 on Saturday. This comes amidst a broader regulatory sweep, as U.S. authorities...
Sam Bankman-Fried Trial: Recap, Legal Analysis, and What’s to Come
3.11.2023
The landmark fraud trial against Sam Bankman-Fried came to a swift end Thursday night as the jury found him guilty on all counts after mere hours of deliberation. Bankman-Fried’s parents broke down as the jury revealed their decision, while the defendant stood motionless facing the jury....
Cathie Wood Bets on Bitcoin Over Gold and Cash as Deflation Hedge for Next Decade
3.11.2023
Cathie Wood has reiterated her confidence in Bitcoin as the go-to asset as hedge against deflation over the next decade. Wood picked Bitcoin over traditional safe havens like gold or cash. Wood believes that deflation is on the horizon, despite the markets’ current focus on heightened...
Caroline Ellison, Gary Wang, and Nishad Singh Might Not be Jailed, Bankman-Fried Faces Decades in Prison: Bloomberg
3.11.2023
Three former close friends and colleagues of FTX co-founder Sam Bankman-Fried have testified against him, potentially leading to minimal jail time for themselves. Caroline Ellison, CEO of Alameda Research, Gary Wang, co-founder of FTX, and Nishad Singh, FTX engineering chief, were key witnesses...
SEC Seeks Summary Judgment in Do Kwon and Terraform Labs Case, Citing Lack of Material Dispute for Trial
3.11.2023
The U.S. Securities and Exchange Commission (SEC) has requested a federal judge for a summary judgment in its case against Do Kwon and Terraform Labs. The SEC has argued in its filing that there is “no genuine dispute as to any material fact” in their case against Do Kwon and Terraform...
SEC Asks Court for Summary Judgement Against Do Kwon, Terraform
3.11.2023
The request follows a move by Kwon's defense team to do the same
As the Jury Deliberates in SBF Trial, what happens next?
3.11.2023
As the jury begins deliberations in the trial against Sam Bankman-Fried, questions remain over what impact the verdict will have on the crypto industry as a whole. Here’s what to expect going forward. The future of FTX John Jay Ray III, an attorney with a track record for recovering funds...
‘He lied to get customers’ trust’: Prosecution makes closing argument against SBF
2.11.2023
“He knew what he was doing was wrong; that’s why he never hired a risk officer,” U.S. Assistant Attorney Danielle Sassoon said