Day: May 23, 2023

XRP sees week of stellar gains rising 9%

Ripple (XRP) has seen an increase over the past week. An analysis of XRP’s performance, recent events, and the implications of this upward trend show what might be on the horizon. As the crypto market weathers turbulent times, one token that seems to have found its stride is XRP.  Defying the prevailing market sentiment, XRP has experienced a 9.37% rise in value within seven days, trading at $0.46 as of May 23. XRP weekly price chart | Source: CoinMarketCap Adding to the intrigue, large transfers of XRP tokens have been…

Namada Wants to Form Closer Knit Partnership with Osmosis

Namada said it is its Switzerland-based non-profit arm, the Namada Foundation that will be in charge of issuing out the NAM tokens that will be airdropped to OSMO holders. Namada Blockchain, a privacy-centric protocol built on the Cosmos Network, is looking at solidifying its presence in the industry with a partnership pitch to Osmosis (OSMO). As reported by Coindesk, Namada co-founder Christopher Goes is exploring a jointly funded grants program to bankroll software “public goods”. The proposal will also involve the airdropping of NAM tokens to current Osmosis holders, a…

District Court Judge Tosses Shareholder Lawsuit against Musk over Twitter Buyout

Judge Breyer threw out the year-long Twitter shareholder lawsuit against Elon Musk, which accused him of cheating other shareholders.   San Francisco’s US District Judge Charles Breyer has dismissed the shareholder lawsuit against Elon Musk challenging the Twitter buyout. On Monday, Breyer ruled that the context in which Musk sustained the suit lacked standing. According to the district judge, plaintiff William Heresniak sued the Tesla CEO for grievances associated with his Twitter buyout, and not the buyout’s fairness. Breyer further said that Heresniak failed to prove how Musk’s delayed disclosure of a 9.2% Twitter stake impacted share…

Crypto Exchange OKX Seeks Regulatory Approval in France

OKX’s DASP registration comes after the 27 EU member countries unanimously agreed on the Markets in Crypto Assets (MiCA) regulation. Seychelles-based cryptocurrency exchange OKX is currently seeking to set up a base in France. To this end, it has applied to obtain a license as a Digital Asset Service Provider (DASP) in the country. Therefore, if the Financial Markets Authority (AMF) approves, then OKX may legally carry out its digital assets business in the European Union’s second-largest economy. OKX Reveals Recruitment Plans in France According to Tim Byun, the company’s…

South Korea’s Ruling Party PPP Calls to Expedite Bill on Lawmakers’ Crypto Disclosures: Report

“Given the current high level of public interest, especially regarding lawmakers, it’s not appropriate to enforce the law six months later after the promulgation,” Yun said, according to the report. Yun reportedly said he had asked the leader of the Public Administration Committee to propose a modified version of the law, on which a vote is scheduled for Friday. Source

Investment Bank Berenberg Prefers MSTR Over COIN shares to Gain Crypto Exposure

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Hong Kong’s SFC Set to Finalize Rules for Crypto Exchanges, Accept License Applications

Under the rules, crypto exchanges are to maintain at all times no less than 5,000,000 Hong Kong dollars ($640,00) in capital, and at the end of each month, submit the platform’s available and required liquid capital, a summary of bank loans, advances, credit facilities as well as a profit and loss analysis to the SFC. Approved tokens on regulated exchanges need a 12 month “track record,” according to the rules. Source

Dash Blockchain Collapses After A Botched Upgrade

Dash, the open-source, proof-of-work blockchain, is down following a recent hard fork failure. The flaw is preventing the network from generating blocks, effectively preventing users from securely transferring value or making payments. Dash Blockchain Is Down As of May 23, the Dash blockchain explorer shows that the last block of transactions was confirmed roughly 28 hours ago. The network halt coincides with a failed upgrade on May 22 which would have seen the platform’s code updated to v19.0.0. Dash Block Generation: Blockchain Explorer The bug in the failed hard fork relates…

FTX 2.0 Rumors Resurface in CEO’s Legal Billings

Coinspeaker FTX 2.0 Rumors Resurface in CEO’s Legal Billings Contents from the latest billing report of the new CEO of FTX, John Ray III, have revived hopes that the bankrupt exchange may be restarted. Ray, who was appointed to steer FTX’s ship during its bankruptcy process had hinted at a possible restart in January. And now, the latest billing report suggests that work may already be underway to make FTX 2.0 a reality. Per the filing, Ray spent more than 6.5 hours on items linked to “2.0” which is thought…

FTX unveils FTX 2.0 strategy, FTT token surges 17% surge

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Under the guidance of CEO John Ray III, FTX unveiled resurrection plans in a new project known as FTX 2.0.  Documents recently filed in the United States Bankruptcy Court for the County of Delaware provide insight into the comprehensive planning and execution of the relaunch by John Ray III and his team. Ray invoiced the company’s bankruptcy estate for over $290,000. FTX also paid an extra $1.3 million to other workers who took over the exchange…