The U.S. Justice Department is reportedly seeking over $4 billion from Binance Holdings to resolve a criminal investigation that has been ongoing for several years. This proposed resolution is a significant move for the world’s largest cryptocurrency exchange, focusing on allegations of money laundering, bank fraud, and sanctions violations. The negotiations also suggest the possibility...Read More
The cryptocurrency market is witnessing a sustained influx of investments, with major assets like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and Ripple’s XRP experiencing significant inflows for the eighth week in a row. A new report highlights this trend, noting a remarkable $176 million inflow into crypto asset investment products. Exploring the Inflows...Read More
In a strategic move, Fidelity, a renowned American financial services corporation, has officially filed for its Spot Ether ETF. This comes on the heels of its recent refiling for a spot Bitcoin ETF. Addressing any potential concerns, the filing clarifies in Item 6 that it has not granted consent to the Securities and Exchange Commission...Read More
Ethereum (ETH) has encountered difficulties breaking past this year’s high of approximately $2,150, prompting concerns about a potential double-top pattern that could lead to a price reversal. The latest market data reveals that Ethereum is trading around $1,985 during the early Asian and London markets on Wednesday, marking a 3.6 percent decrease over the past...Read More
BlackRock Inc., a prominent asset management firm, the company has brought attention to the potential threats that stablecoins pose to the Bitcoin market. This disclosure, part of a publicly filed document submitted to regulatory bodies, sheds light on the intricate challenges and intricacies within the ever-evolving landscape of cryptocurrency. BlackRock Shed Light’s on Stablecoin Volatility...Read More
Began from Nov 9, the SEC has this unique “window” to give the thumbs up to all 12 spot Bitcoin ETF filings, even including Grayscale Investments’ conversion of its Grayscale Bitcoin Trust product by November 17. SEC Remains Silent Bitcoin enthusiasts and investors alike have been closely monitoring the Securities and Exchange Commission’s response to...Read More
The Solana (SOL) price has shown resilience in the past five days after a remarkable surge, almost reaching $47. Despite recovering from the bear market, a looming challenge comes in the form of potential sell pressure from substantial FTX holdings. The cryptocurrency market is treading cautiously as Solana (SOL) approaches a critical juncture. Analysts are...Read More
The U.S. Securities and Exchange Commission (SEC) is intensifying its legal action against cryptocurrency exchange Binance and its American counterpart, Binance.US. The SEC alleges violations of security laws and fraudulent activities by both entities. The regulatory authority has moved to challenge the dismissal motions filed by Binance and CEO Changpeng “CZ” Zhao and stands firm...Read More
In the past week, the market has been impacted by significant events such as the Federal Open Market Committee (FOMC) meeting, the decision to maintain current interest rates, and the conviction of Sam Bankman-Fried (SBF) on fraud charges. During these developments, Bitcoin (BTC) managed to reach the $36,000 mark, raising chances for further increases. Consequently,...Read More
Ripple has been dropping hints that an Initial Public Offering (IPO) might be in its future. The notable XRP influencer Lewis Jackson has been dissecting these hints, suggesting that Ripple may be gearing up to go public with an IPO Lewis Jackson Highlights Ripple IPO Hints Recently, an influential voice in the world of XRP,...Read More
Yesterday, MicroStrategy, the renowned independent business intelligence enterprise, disclosed its financial results for the third quarter of its fiscal year 2023, which ended September 30, 2023. How Much Bitcoin Microstrategy Holds ? MicroStrategy has consistently shown a deep interest in Bitcoin, further solidifying its position in the cryptocurrency world with an additional purchase of 6,067...Read More
The current trial isn’t looking favorable for Bankman, with his frequent fallback being, “I don’t recall/remember.” Today, when Judge Kaplan questioned him about the $8 billion discrepancy, SBF drew another blank. SBF Failed To Give Clear Answers Adam Yedidia said that he found a mistake in the accounts in summer 2022 and told the crypto...Read More
Valkyrie Funds files an amended prospectus in hopes of getting its ETF approved by the SEC. SEC Talkin’ About Litigation: A closed-door meeting by the SEC on November 2 will focus on BTC ETF approval and potential legal action. Valkyrie Files for Updated Bitcoin Spot ETF Application Valkyrie Funds has filed an updated amendment prospectus...Read More
Stuart Alderoty, Chief Legal Officer of Ripple Labs, and critical members of the XRP community have endorsed SEC Commissioner Hester Peirce’s criticisms of what she considers to be “misguided enforcement-driven approach to crypto” by the regulatory body. Alderoty took the opportunity to thank Peirce for her disagreeing the views on the SEC’s actions against LBRY,...Read More
There’s a new twist in the ongoing legal showdown between Ripple and the U.S. Securities and Exchange Commission (SEC). Pro-XRP lawyer Fred Rispoli reveals that the SEC could refile charges against Ripple executives if they succeed in their appeal. SEC May Reconsider Charges Against Ripple Execs if Appeal Succeeds In a recent post made by...Read More
Bitcoin’s price surged by 12%, reaching past $35,000. Rising anticipation around the US Bitcoin Exchange-Traded Funds (ETFs) with big players like BlackRock and Fidelity leading the charge. Speculation arises: Is the current Bitcoin surge a genuine bull rally or just a deceptive bull trap? Bitcoin’s price leaped impressively today, rising by 12% and reaching a...Read More
During the questioning by Sam Bankman-Fried’s defense team on Tuesday, Nishad Singh, once a part of Bankman-Fried’s empire, admitted to uncertainties in his recollection of past discussions with SBF and fellow FTX executives. However, he revealed active role in political contributions and his interactions with various individuals within Bankman-Fried’s professional and personal network. Nishad Faces...Read More
Binance, one of the world’s largest cryptocurrency exchanges, has been in the spotlight due to various adverse news reports in recent months. The exchange’s leader, Changpeng Zhao, also known as CZ, has been using social media to address these concerns and dismiss them as “fear, uncertainty, and doubt” (FUD). However, a famous crypto analyst, Adam...Read More
Coinbase, one of the leading cryptocurrency exchanges, is pressing the Third Circuit Court to compel the U.S. Securities and Exchange Commission (SEC) to act on its long-pending rulemaking petition related to digital assets. The company has accused the SEC of bureaucratic delays and a lack of transparency, taking the legal showdown to a new level....Read More
In a recent filing, Voyager Digital, a once-thriving crypto firm, has agreed to a $1.65 billion settlement with US regulators, marking one of the largest fines ever imposed in the sector. Additionally, a legal cloud is gathering around the firm’s former CEO, Stephen Ehrlich, as regulators file a lawsuit against him, alleging a series of...Read More
In the most salacious testimony on Wednesday, Ellison said she and a handful of FTX and Alameda executives “paid a large bribe to Chinese officials” to secure funds locked on Chinese exchanges. This is the most explosive testimony ever. She spilled more than the court could digest; however, the defense is yet to counter the...Read More
In a crucial moment, the Federal Open Market Committee (FOMC) has signaled a steadfast approach towards its ‘restrictive’ monetary policy amidst an ongoing inflation surge. The minutes from the recent meeting showed a commitment to maintaining higher interest rates for “some time” until inflation slows down. Following this news, Bitcoin price dropped toward the low...Read More
In a shocking revelation in today’s trial, Caroline Ellison, the ex-girlfriend of FTX founder Sam Bankman-Fried, has come forward with serious allegations against the billionaire entrepreneur. Ellison claims that Bankman-Fried directed her to engage in illicit activities and commit fraud against FTX customers. SBF Set Up The System, Ordered To Take Money: Ellison Ellison, who...Read More
A pro-Ripple legal expert, John Deaton, has elucidated on a probable settlement scenario between the U.S. Securities and Exchange Commission (SEC) and Ripple instead of proceeding to trial. Here are the key points from his discussion: [embedded content] Settlement Instead of Trial: Deaton postulates that a trial is unlikely due to a recent decision viewed...Read More
Tech Lawyer Preston Byrne became the talk of the crypto community when he revealed on Twitter that he was offered a substantial 13,000 ETH during Ethereum’s pre-mine phase. This revelation is particularly striking not only because of its dollar value—approximately $39 million at today’s ETH prices—but also for the ethical considerations that guided his decision...Read More
The SEC has recently filed its opposition to Coinbase’s motion to dismiss their case. While Paul Grewal, the Chief Legal Officer of Coinbase, has been vocally critical of the SEC’s approach, the insights from Miles Jennings add more weight to tearing apart the SEC’s arguments. According to him, the SEC’s theory of an investment contract...Read More
David Schwartz, Ripple’s Chief Technology Officer (CTO) and the often-considered “brainchild” behind the company said his father took a moonshot gamble on XRP. In April 2014, the senior Schwartz purchased an eye-popping one million XRP from Justcoin when the asset was priced at an almost inconceivable half a penny. My father bought over a million...Read More
SEC Chair Gary Gensler Under Fire During a discussion about cryptocurrency regulations, Congressman Warren Davidson recently expressed concerns about the actions of Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC). Davidson, a House Financial Services Committee member, highlighted the need for transparency and accountability within the SEC. During the conversation with...Read More
Brian Armstrong, the CEO and founder of Coinbase, a pioneering public cryptocurrency exchange in the U.S., recently shared his insights on the future trajectory of cryptocurrency. Having weathered the storms of U.S. regulation and watched the digital currency space evolve, Armstrong’s take on what lies ahead is both fascinating and important for us crypto enthusiasts....Read More
The crypto world recently witnessed a spectacular celebration, known as the “Proper Party,” hosted by Ripple on September 29 in New York City. It was more than just a typical gathering. This event marked a significant milestone – the victory of Ripple over the US Securities and Exchange Commission (SEC) in a lengthy and closely-watched...Read More
