Day: December 2, 2022

Crypto Is at ‘Brick Wall Stage’ and Needs ‘Right Balance’ of Regulation, Says Legal Expert

For investors and consumers relying on centralized crypto exchanges like FTX, Evans said there’s a need for federal guardrails, protections and greater transparency. Whether that oversight power is held by one agency or shared by the CFTC and the Securities and Exchange Commission, Congress must “make sure the right legislation and regulation is created for the times,” she added. Source

MEXC’s Changing for You | The 1st Exchange to Launch a Zero Maker Fee Event for Futures Orders – Press release Bitcoin News

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press release PRESS RELEASE. In September of this year, blockchain media outlet, Cointelegraph, reported that cryptocurrency trading platform MEXC has ranked as the world’s top liquidity provider. Recently, MEXC announced the growth of its contract business, and its average daily trading volume has reached an increase of 1,200%. 「Users first, MEXC’s Changing for you」has always been the service philosophy that MEXC adheres to. The ‘Zero Maker Fee’ Event is set to launch to give back to MEXC’s futures users. The activity starts on December 1st. It is understood that to…

S. Korean Judge Dismisses Arrest Warrant for Terra Co-Founder Shin

“Considering the attitude toward the investigation, the circumstances, process and contents of the statement, it is difficult to see that there is a risk of destroying evidence or escaping beyond the scope of exercising the right to legitimate defense,” Hong Jin-pyo, chief judge in charge of warrants at the Seoul Southern District Court, said, according to Yonhap. Source

Legal team for 3AC liquidators blast founders for shifting blame to FTX, media blitz amid bankruptcy

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The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Terra Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers. In a Dec. 2 hearing in United States Bankruptcy Court in the Southern District of New York, lawyers for 3AC’s liquidators cited founders Zhu Su and Kylie Davies for being “active and responsive to comments via Twitter” but “repeatedly fail[ing] to engage” with liquidators to discuss the company’s assets…

Brands Will Save Crypto? Be Careful What You Wish For

All is not lost, though. So far, brands’ activities in this space seem born of the right, inclusive spirit. There is a real effort, for example, to give artists, musicians and writers greater control over their work, to dramatically boost the royalties they receive and to seek out diverse creative backgrounds and styles. At a Miami event honoring the artists behind Time Magazine’s Timepieces NFT series, many said they felt appreciated and empowered by what Time, under the leadership of outgoing President Keith Grossman, has built. Source

Is Bitcoin the only crypto that will survive FTX?

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The downfall of FTX and a number of other CeFi platforms in 2022 has reinforced a Bitcoin maximalist narrative, according to which most of the crypto ecosystem will eventually collapse due to its centralization.   Jeff Booth, Bitcoin proponent and author of “The Price of Tomorrow”, believes centralized crypto platforms such as FTX and Celsius have ended up replicating the traditional financial system with all its inherent flaws. “All of crypto is trying to rebuild a financial system that we already have based on manipulation and centralization,” said Booth, in an…

DOT Hits 12-Day High, UNI up for Fourth Straight Day – Market Updates Bitcoin News

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Polkadot rose to its highest level in nearly two weeks on Dec. 2, despite cryptocurrency markets sliding following the latest nonfarm payrolls report. The global crypto market cap is down 0.57% as of writing, as prices consolidated following the data being released. Uniswap was also higher, despite the turbulent sentiment on Friday. Polkadot (DOT) Polkadot (DOT) moved to a 12-day high on Friday, as the token rallied, despite crypto markets being mostly lower in the day. Following a low of $5.34 on Thursday, DOT/USD surged to an intraday high of…