Day: April 26, 2023

Arbitrum decentralized exchange IAO cancelation draws controversy

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On April 26, Xirtam token’s scheduled initial airdrop offering (IAO) on the Arbitrum decentralized exchange AlienFi was canceled minutes before launch.  It was not immediately clear which party was responsible for the cancelation. In a series of screenshots shared on Twitter, AlienFi alleged that, unbeknownst to the development team, Xirtam had conducted “a seed sale sold 3x+ below the Fjord price” before the scheduled IAO and Xirtam “decided to cancel” after AlienFi developers discovered the event, leading to a pricing dispute. According to an April 20 post, Xirtam was scheduled for a…

Seeing the Macro Forest for the Token Trees

Put another way, while the analysts examine the forest tree by tree, macro investors sit on a hill, surveying the whole valley and considering which parts of the forest will be nourished or threatened by rainfall, forest fires, changes in land use and other factors outside of the idiosyncrasies of the micro analysis. Source

How far will it go?

The Securities and Exchange Commission (SEC), led by Chairman Gary Gensler, has been at the forefront of the United States’ cryptocurrency crackdown. In the last few months, the agency has filed several enforcement actions against major crypto companies that allegedly violated security laws. Critics say the agency has adopted a regulation-by-enforcement approach without providing a proper set of rules that fit the unique features of crypto assets. A major source of confusion is the definition of a security and whether it can apply to a highly diverse set of assets…

Biggest Movers: ADA, SOL Jump 9% Higher on Wednesday – Market Updates Bitcoin News

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Cardano was one of Wednesday’s big movers, as bullish sentiment returned to cryptocurrency markets. Spurred by an apparent collapse of First Republic Bank, the global crypto market cap moved 7% higher, as of writing. Solana was also in the green, rising by nearly 9%. Cardano (ADA) Cardano (ADA) rose by as much as 9% on Wednesday, as bullish sentiment returned to cryptocurrency markets. Following a low of $0.38 on Tuesday, ADA/USD raced to an intraday high of $0.4166 earlier in today’s session. Today’s surge in price saw cardano climb to…

Voyager Lawyers ‘Surprised’ Binance.US Canceled $1B Deal

“The debtors have been in constant contact and communication with Binance.US and as lately as this past Friday, Binance.US had expressed the desire to close the transaction as soon as possible,” Christine Okike of law firm Kirkland & Ellis, representing Voyager, told a bankruptcy court in the Southern District Court of New York, adding that “the debtors reserve all rights against Binance.US for breach” of the deal. Source

Former CFTC Chair Timothy Massad Among Witnesses for Crypto Hearing in U.S. House

Other witnesses include Purvi Maniar, general counsel at institutional crypto trading platform FalconX, and Nilmini Rubin, head of global policy at decentralized proof-of-stake ledger Hedera. Rounding out the panel are Daniel Davis, partner at law firm Katten Muchin Rosenman LLP, as well as its co-chair, Financial Markets and Regulation and Joseph Hall, partner at law firm Davis Polk & Wardwell LLP. Source

As Bitcoin and Crypto Grows, so Does CoinDesk’s Commitment to Keeping Pace

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Of note in 2023 is the somewhat sporadic monthly returns, with underperformance in February and April, surrounded by outperformance in January and March. The lack of a discernible trend in instances like this highlights the need for objective, quantitative-based tools to evaluate trends. As crypto matures and the base of crypto investors widens, so, too, will the need for tools that strip the emotion out of allocation decisions. CoinDesk’s Bitcoin Trend Indicator can do that. Original

Binance.​US enables free Web3 domain creation for American users

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Binance.​US users will soon be able to set up decentralized domains that will serve as digital identities across the Web3 ecosystem through a new partnership with Unstoppable Domains. The new offering will allow users to mint “.BinanceUS” domains, providing users with easily understandable names for cryptocurrency wallets to buy, sell and transfer cryptocurrency in the Binance.US app. These unique domains also serve as a digital identity across compatible Web3 services, applications and platforms. Binance.US and Unstoppable Domains announced the launch of the service on April 26 and it will go…