Month: March 2023

First Mover Americas: SEC Warns Coinbase

CryptoX – Cryptocurrency Analysis and News Portal The latest price moves in bitcoin (BTC) and crypto markets in context for March 23, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source The post First Mover Americas: SEC Warns Coinbase appeared first on CryptoX. CryptoX Portal

Jack Dorsey’s Block Tumbles 17% After Short-Seller Hindenburg’s Report

Hindenburg continued: “Our research indicates, however, that Block has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual.” Source BlockDorseysHindenburgsJackReportShortSellerTumbles CryptoX Portal

Whales Abruptly Move $195,231,414 in Shiba Inu Rival and Bitcoin From Top Crypto Exchange Amid Market Turbulence

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Crypto whales are reportedly moving hundreds of millions worth of Bitcoin (BTC) and one Shiba Inu (SHIB) competitor out of a top crypto exchange as the markets respond to the Federal Reserve announcing further rate hikes. According to new data from whale-surveying platform Whale Alert, a staggering 84,890,577,207,998 Dogelon Mars (ELON) tokens, worth about $29 million at time of writing, were abruptly shifted from Crypto.com to an unknown crypto wallet. Transactions featuring the king crypto were also on Whale Alert’s radar as many deep-pocketed investors started transferring millions of dollars…

Bitcoin Regains Momentum as Investors Shrug Off Banking, Fed Concerns

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Ether, the second larges crypto in market value, was recently changing hands at $1,810, up 4.6% from Wednesday, same time. Other major cryptos were largely in the green, regaining ground lost the previous day. Stablecoin XRP and TRX, the token of blockchain-based platform Tron Network, recently rose 5.7% and 9.4%, respectively. TRX dropped the previous day after the U.S. Securities and Exchange (SEC) charged its founder with selling and airdropping unregistered securities, fraud and market manipulation. Litecoin continued its recent momentum, rising 7.8%. The CoinDesk Market Index, a measure of…

Crypto Industry Receives Protection with New Blockchain Regulatory Bill

Member of the US House of Representatives and Majority Whip Tom Emmer has recently introduced a new bill to provide regulatory clarity for the blockchain and cryptocurrency industry. The bill is called the Blockchain Regulatory Act (BCRA). According to Emmer, the purpose of this bill is to establish legal clarity for blockchain developers and service providers who do not hold or manage consumer funds. The bill proposes that these entities should not be considered money transmitters subject to “stringent” regulation.  Additionally, the BCRA is a bipartisan bill co-led by Representative…

Do Kwon faces fraud charges from US prosecutors hours after arrest

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Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. The 31-year-old entrepreneur was charged with eight separate counts, including securities fraud, commodities fraud and wire fraud, according to a March 24 report from Bloomberg. Filip Adzic, the minister of interior of Montenegro reported on March 23 that an individual suspected of being the former “cryptocurrency king,” was detained at the Podgorica airport with “falsified documents,” and authorities are awaiting official confirmation of identity.…

Is This Finally an Atomic Bomb From the SEC?

The U.S. Securities and Exchange Commission’s notice to Coinbase (COIN) that it’s likely to be accused of breaking securities laws could foreshadow an agency effort to break the back of the crypto sector as it now operates, but it also may finally force court rulings that define how the industry can move forward. Source