Day: July 14, 2023

MultiversX launches on-chain two-factor authentication standard

boss

Two-factor authentication (2FA) is a tried and tested online security measure, and the technology is now being used as an additional transaction signing measure on MultiversX’s blockchain protocol. MultiversX CEO Beniamin Mincu unpacked the protocol’s new guardian service in conversation with Cointelegraph. The feature makes use of Google Authenticator, Authy, Duo, Microsoft Authenticator or biometrics to provide a second signature for transactions before they are processed on-chain. Mincu outlines the novelty of the approach, which allows users to make use of guarded transactions and accounts to act as a secondary…

Celsius ‘pleased’ with resolutions amid $4.7B FTC fine

boss

Bankrupt crypto lender Celsius Network has posted that the company is pleased with the resolutions that it was able to reach with various United States government agencies. The announcement came after the news that the FTC has imposed a $4.7 billion fine on the company. On July 13, the United States Federal Trade Commission (FTC) reached a settlement with Celsius. The FTC’s decision comes with a $4.7 billion fine — which is suspended to allow the company to return its remaining funds to users as it goes through bankruptcy proceedings.…

Crypto Twitter discusses US XRP ruling, citing possible Binance implications

Judge Analisa Torres of the US District Court rules XRP is not a security, sparking community debate on implications for the Binance lawsuit. In court, the judge denied the SEC’s request for summary judgment regarding programmatic sales of XRP and sales by confident leaders of the company. This ruling implies that XRP is not considered a security when sold to the general public. The verdict has created a mixed response, with the majority of the crypto community interpreting it positively, likely because they are primarily retail investors focused on the…

How to use index funds and ETFs for passive crypto income

boss

The key to gaining financial security and independence is to invest in passive income. Passive income is generated through investments that offer a consistent source of income with little continuing involvement, in contrast to active income, which necessitates constant effort and time. Passive income is especially valuable because it enables investors to amass wealth and live independently. Passive income investing, explained Investing in index funds and exchange-traded funds (ETFs) is a popular passive income strategy in the traditional financial market. Index funds are passively managed mutual funds that seek to…

US Representative Torres demands investigation of SEC deal with Prometheum

boss

The United States Securities and Exchange Commission (SEC) could be investigated for a “haphazard and heavy-handed approach to digital assets” or, more specifically, for its “sweetheart deal” with crypto platform Prometheum.  On July 13, U.S. Representative Ritchie Torres filed requests to the SEC’s Inspector General Deborah Jeffrey and the Government Accountability Office’s Comptroller General Gene Dodaro. In the letters published by Torres on Twitter, he writes: “The SEC refuses to bring even the barest amount of clarity to the application of securities law to digital assets. Its preferred means of communicating…

Google’s Bard overcomes EU hurdles, expands territories and capabilities

boss

On July 13, Google said it had launched its Bard chatbot to users in the European Union and Brazil. This launch comes after the tech company overcame regulatory hurdles faced in the EU. The territory expansion also came with the unveiling of new features for the artificial intelligence (AI) tool. In the company’s blog post, Google stated that this AI tool can now generate responses in over 40 languages, including Chinese, Hindi and Spanish. Additionally, new features would be introduced to Bard in specific regions, including the capability to hear spoken…

COIN Shares’ Rally Following XRP Court Ruling Is Overdone: Berenberg

“The surge was driven in large part by investors who interpreted Judge Torres’ ruling as representing a rejection of the SEC’s argument in the lawsuit it filed against COIN on June 6 that many of the tokens bought and sold in secondary-market transactions on the company’s exchange are unregistered securities,” analysts led by Mark Palmer wrote. Source

Ripple CTO warns against XRP scams amid SEC-induced hype

boss

A court ruling in favor of Ripple Labs — stating that XRP (XRP) is not a security — reignited the long-lost hype around the ecosystem. Anticipating an influx of scams as the token rallied, defying bearish sentiments, Ripple chief technology officer David Schwartz issued a warning to investors. A two-year-long legal battle between the United States Securities and Exchange Commission (SEC) and Ripple partly concluded on July 13, with its XRP token shaking off the “securities” label in a decision by the United States District Court for the Southern District…

XRP Pushes Past BNB to Become 4th Largest Cryptocurrency; Funding Rates Surge

CryptoX is a multi-platform publisher of news and information. CryptoXtrade has earned a reputation as the leading provider of cryptocurrency news and cryptomarket analysis, bitcoin and other cryptocurrencies, blockchain technology, finance and investments. CryptoXtrade have become a known leader in the cryptocurrency information market. We work only with trusted information sources providing latest financial and technological innovations that improves the quality of life of CryptoX readers by focusing on Cryptocurrency and Blockchain. CryptoX Portal