“If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets,” said Paul Grewal, Coinbase’s chief legal officer, in a statement. “Until then, it’s business as usual.” Source
Popular crypto veteran Arthur Hayes says it’s possible for Bitcoin to cross the $1 million threshold. Hayes believes that the Federal Reserve’s new Bank Term Funding Program will pump BTC massively. The $1 million projection became popular after former Coinbase executive Balaji Srinivasan made a public bet on the same. Arthur Hayes, the popular crypto veteran who founded crypto exchange BitMEX, believes that Bitcoin has the potential to cross the million-dollar threshold. In a recent podcast with Bankless, Hayes shared his thoughts on the United States Federal Reserve’s new banking…
Fully integrating a stablecoin or central bank digital currency (CBDC) into the economy would destabilize banks but improve household welfare, a study released by a United States Treasury division has claimed. The harm to banking caused by the digital currencies could be “significant” in times of stress, it found. The Office of Financial Research study considered a theoretical “stable state” in the financial sector, after stablecoin or CBDC had been successfully introduced. This contrasts with studies that looked at the risks of bank runs and disintermediation caused by the introduction…
The U.S. Securities and Exchange Commission (SEC) has taken action against Justin Sun, the founder of Tron, and the Tron Foundation, issuing charges for offering unregistered securities and market manipulation. Additionally, a group of influencers have been charged by the organization for promoting tron without disclosing that they were being compensated for their endorsements. Tron Founder Justin Sun Charged for Selling Unregistered Securities and Market Manipulation The U.S. SEC announced today a series of charges against Tron founder Justin Sun, and the Tron Foundation, declaring that the foundation…
Arbitrum developers announced an airdrop of its governance token, ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB tokens, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking to hunt the next airdrop opportunity. The airdrop farming activity also benefits the protocols by attracting liquidity and usage to the platform. The strategy is working well for both protocol developers and users. Moreover, the…
The United States Securities and Exchange Commission, or SEC, has called for a jury trial against Tron founder Justin Sun for the “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.” In a March 22 filing in U.S. District Court for the Southern District of New York, the SEC named Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry over the offer and sale of Tron (TRX) and BitTorrent (BTT), alleging the tokens were securities. The financial regulator further alleged Sun engaged in…
Still, a number of analysts were optimistic about bitcoin’s price in the near future, given the bank sector’s calamities. “Bitcoin, straddling between being the leading risk-on asset and a financial lifeboat in the event of an all-out banking crisis, has benefitted from the recent turmoil and now the prospect that the Fed’s tightening could be over,” James Lavish, managing partner at Bitcoin Opportunity Fund, told CoinDesk in an email. Original
Paul “illegally touted” cryptocurrencies “TRX and/or BTT” without disclosing he was being paid to do so, according to a press release. The YouTuber-turned-boxer is among a cast of celebrities the SEC charged Wednesday with participating in a scheme to illegally promote Sun-tied cryptos. Source CryptosIllegallyJakeJustinPaulSECSuesSunLinkedTouting CryptoX Portal
The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours. Defi Value Swells Close to 2% Higher to Over $50 Billion With crypto assets swelling in value and the crypto economy rising 1.2% to $1.24 trillion, the total value locked (TVL) in defi on Wednesday was $50.34 billion. The defi platform Lido Finance dominates the top defi…
Immersive experiences are already popular in the entertainment, gaming, and fashion industries, but they can also be a tool to address various other corporate needs, like simulating manufacturing operations and training managers to have sensitive conversations. Deloitte made this bet in late February when it announced a partnership with virtual spaces company Vatom to offer immersive experiences for various industries, from companies seeking to boost culture with virtual reality to brands focused on building community engagement. Together, the companies claim to deliver the ability to host thousands of people simultaneously…