LBRY blockchain’s native token LBC is giving back its gains as traders begin to digest the reality of a court hearing. Source
LBRY Token Rally Stalls as Traders Move on From Court Speculation
Month: February 2023
Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation – Regulation Bitcoin News
The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed to Innovation The executive power in London has announced plans to regulate a wide range of crypto-related activities through new rules for the young industry that will be consistent with Britain’s regulations for the traditional…
Judge dismisses proposed class-action suit alleging Coinbase securities sales
A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper registration and customers were not warned of their risks. The suit brought charges under the Securities Act of 1933 and Exchange Act of 1934 and used the Howey test, established by the U.S. Supreme Court…
Judge dismisses proposed class action suit alleging Coinbase securities sales
A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper registration and customers were not warned of their risks. The suit brought charges under the Securities Act of 1933 and Exchange Act of 1934 and used the Howey test, established by the U.S. Supreme Court…
Crypto Custody Firm Copper Alerted to Security ‘Incident’ Over Christmas
“The subsequent investigation determined that Copper hadn’t suffered any breach or business interruption and that no client information had been compromised,” Copper said in a statement. “The incident was not of a nature that required disclosure with applicable law or regulations, operations continued to run smoothly and caused no further concern to the company.” Source
Crypto Investors Can Purchase Bankruptcy Put Options to Protect Funds on Binance, Coinbase, Kraken Crypto Exchanges
This means a Binance account holder with a balance of $1 million who wants protection may buy a put option with a six-month expiry for an estimated price of $27,000-$33,000 paid upfront given the monthly rates. If the firm files for bankruptcy within the contract term, the seller would be obligated to buy the account holder’s valid bankruptcy claim at the full $1 million price. Source
New FTX documentary to spotlight SBF-CZ relationship
The FTX saga and the developments that led to the crypto exchange’s collapse will be framed in a new documentary focusing on the volatile relationship between Sam Bankman-Fried and one of his fiercest critics, Binance founder Changpeng Zhao. According to The Hollywood Reporter, the production is a partnership between media outlet Fortune and Unrealistic Ideas, a non-scripted production company co-founded by American actor Mark Wahlberg, Stephen Levinson and Archie Gips. “The tumultuous relationship between SBF and CZ has played out to a certain extent in articles and on Twitter, but…
NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3
“Whether you’re using our PFPs or you’re attending one of our events, or you’re wearing merch, that is the emotional feeling that we want to enable for everyone in our community,” Jaclyn Woo, director of marketing and strategy at Cool Cats, told CoinDesk. “It’s an acknowledgement to our community and our Web3 roots, our communities, the core reason why we’re here today, and as we grow and we evolve, we want to continue crafting stories and building products.” Source
Bitcoin bulls plan to flip $23K to support by aiming to win this week’s $1B options expiry
Bitcoin’s (BTC) price has been trading above $22,500 for 12 days. Of course, this situation can change even if Federal Reserve chair Jerome Powell issues positive statements about the economy in today’s post-FOMC presser. Even if the decision matches the market consensus, the post-meeting statement should be investors’ primary area of focus. Specific areas to focus on would be clues for the next meeting in March. Troubling news for the largest stablecoin Tether (USDT), could also cause a meaningful impact after a Celsius bankruptcy examiner report showed that “Tether’s exposure…
Facebook Parent Meta’s Metaverse Division Lost $13.7B in 2022
For the company as a whole, Meta reported adjusted quarterly earnings per share for the fourth quarter of $1.76, missing the analyst consensus estimate of $2.26, according to FactSet, while Meta’s overall revenue of $32.2 billion beat estimates of $31.6 billion. It guided for Q1 revenue between $26 billion to $28.5 billion, which at its midpoint of $27.25 billion was slightly ahead of the consensus estimate of $27.2 billion. Facebook’s daily active users also hit 2 billion for the first time in the quarter. Source