Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financial investment product. Despite the recent enforcement action by the U.S. Securities and Exchange Commission (SEC) against Kwon, the South Korean court has determined that LUNC is not a security, further clarifying its position in the matter. Seoul Southern District Court Says LUNC Is Not a Security…
Day: April 24, 2023
DeFi options protocol raises $17M for buy-side marketplace
Thetanuts Finance, a decentralized finance (DeFi) protocol offering crypto options contracts, has raised $17 million to offer a buy-side marketplace and expanded list of coins, according to an April 24 announcement from the team. Thetanuts Finance has completed a $17M institutional funding round led by @Polychain, @HyperchainC & @Magnus_fund, supporting our ambition to create a thriving two-way altcoin option market and continue to push the boundaries for structured DeFi products.https://t.co/BH4aOUEckd pic.twitter.com/mmGBuCmBHu — Thetanuts Finance (@ThetanutsFi) April 24, 2023 The funding round was led by crypto investment firms Polychain Capital, Hyperchain…
ETH Boston Conference and Hackathon Returns April 28-30 at Boston University – Press release Bitcoin News
press release PRESS RELEASE. ETH Boston and The Boston DAO are thrilled to announce the return of ETH Boston, a conference and hackathon event taking place at Boston University on April 28-30, 2023. The conference will feature three stages of 50+ industry experts, founders, and builders, technology-specific workshops, networking events, and a hackathon. We are excited to bring to you high quality discussions with tracks covering DeFi, Infrastructure, Data, Identity, Zero-Knowledge, DAOs, DeSci, Institutional Adoption, Regulation, and more! ETH Boston aims to build awareness and directly impact developers, investors, students,…
Gemini Expands Beyond US Borders Amid Regulatory Uncertainty With Upcoming Launch of New Crypto Exchange
American crypto exchange Gemini is expanding its operations overseas as US federal regulators create uncertainty in the industry at home. The exchange says it’s launching the Gemini Foundation, a non-US crypto derivatives platform that will initially offer customers with a perpetual Bitcoin (BTC) contract denominated in Gemini dollars (GUSD). Gemini says the platform will launch a GUSD-linked perpetual Ethereum (ETH) contract next amid plans to offer more derivatives products in the coming months. “Eligible customers will be able to trade both spot and derivatives products and execute all of their…
Pan-European crypto regulation is almost here: Law Decoded, Apr 17–24
Last week, the Markets in Crypto-Assets Act, also known as MiCA, was finally passed by the European Parliament. While MiCA technically still has to be approved by the European Council, there’s little doubt that the world’s first comprehensive crypto framework will become a reality by 2024 or 2025. Despite its flaws, the regulation will establish guidelines for the operation, structure and governance of digital-asset issuers. MiCA is “a milestone for the crypto asset industry,” as its rapporteur, Member of the European Parliament Stefan Berger, put it. The crypto community welcomed…
Ethereum price lower highs vs. Bitcoin hint at more downside in April
The price of Ethereum’s Ether (ETH) token has retreated from its recovery trend versus Bitcoin (BTC) while making a series of lower highs in April. ETH price risks more losses vs. Bitcoin As of April 24, the ETH/BTC pair was down about 5.5% from its local high of 0.0709 BTC six days ago. The same period witnessed Ether declining nearly 15% and Bitcoin dropping 11.25% in U.S. dollar terms. ETH/BTC daily price chart. Source: TradingView For now, ETH holds above its 50-day exponential moving average (50-day EMA; the red wave)…
Bybit to introduce mandatory KYC requirements starting May 8
Starting May 8, Know Your Customer (KYC) identity verification will be mandatory for all products and services offered by cryptocurrency exchange Bybit. According to an Apr. 24 update, Bybit users who have not completed KYC by May 8 can only “close existing open positions or orders, return loans, or withdraw. Any new trading activities will be restricted.” Before the update, non-KYC Bybit users had a daily withdrawal limit of 20,000 Tether (USDT) and a monthly withdrawal limit of 100,000 USDT. Bybit’s withdrawal limits prior to the announcement Users who completed…
Crypto Investment Funds Have First Week of Outflows in 6 Weeks
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Crypto Investment Funds See First Week of Outflows in 6 Weeks
Net outflows totaled $30 million. Source
Lawmakers Could Still Nix Digital Euro, ECB’s Panetta Says
“We want to be sure that in any situation, in any circumstance, we will have a framework that would allow all European citizens to pay everywhere in a safe and efficient manner at cheap costs,” Panetta told the committee. He cited ECB research that suggests citizens see the ability to pay anywhere as the “most important feature” of a CBDC. Source