Day: July 17, 2023

Canadian crypto hacker Soup allegedly stole over $1m in scams

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A prominent crypto investigator ZachXBT has revealed that a Canadian hacker known as Soup (Dan) is the brain behind several high-profile phishing scams. The scams allegedly include Orbiter Finance’s Discord server security breach earlier this year and the Crypto Punk 6983 NFT theft. Identity of notorious crypto scammer uncovered  ZachXBT, a blockchain sleuth that claims to be dedicated to uncovering rug pulls and exposing bad actors in the web3 space, has revealed the identity of the notorious…

Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration

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United States Securities and Exchange Commission (SEC) chair Gary Gensler has commented publicly about the last week’s ruling on the agency’s suit against Ripple.  Gensler gave a talk on artificial intelligence at the National Press Club on July 17 and was asked about the ruling during the questions and answers afterward. Does the ruling affect his stance on cryptocurrency, and does it “inject urgency into the need for federal legislation to clarify regulatory oversight of this industry,” he was asked. He replied: “We are pleased from that decision recognizing the importance of…

Bitcoin price falls under $30K as macro and regulatory worries take center stage

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Multiple data points point to Bitcoin price falling below $29,000 in the short term.  Yes, you read that right. Let’s investigate the main issues contributing to the current downside in Bitcoin price. Bitcoin (BTC) encountered difficulties breaking above $31,800 on July 13, resulting in a 6.3% correction down to $29,700 on July 17. The price action could reflect investors’ concerns that ongoing regulatory developments and macroeconomic headwinds could drive Bitcoin below the $29,000 level, which was last observed on June 21. On the derivatives side, Bitcoin futures show increased demand,…

SEC seeks public input on Bitcoin ETFs

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As of July 17, investors, traders, and other members of the public can now share their opinions on the Bitcoin ETF filings submitted via the Cboe exchange. All comments are set to be published on the SEC’s website. Comment period now open The Securities and Exchange Commission (SEC) has called upon the public to provide their input on the Bitcoin ETF filings made by Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco…

Ripple court ruling makes call for regulation ‘more compelling and more urgent’ — former CFTC chair

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Timothy Massad, former chair of the United States Commodity Futures Trading Commission (CFTC), has said though a Securities and Exchange Commission (SEC) v. Ripple court ruling may impact the way businesses and lawmakers address crypto, his call for regulatory clarity remains the same. In a July 7 op-ed with The Wall Street Journal, Massad and former SEC chair Jay Clayton suggested that lawsuits brought by the SEC and CFTC against crypto firms were “unlikely to bring about a significant improvement in investor protection and market integrity quickly”. The comments came…

Don’t Expect a Flood of Spot-Bitcoin ETFs Soon – Experts

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If you’ve been in crypto for a while, you’ll know that ETFs have long been considered key for building a broad-based market for digital assets. And recent news that BlackRock, no less, had submitted a proposal to set up such a vehicle raised hopes. If a bellwether, well-connected institution like BlackRock was getting into Bitcoin ETFs, surely an approval, and the first U.S. crypto ETF, couldn’t be far off. Original

Ripple’s major success in its court battle with the SEC: Law Decoded, July 10–17

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Given the current push for crypto regulation, the industry breathed a sigh of relief on July 13 as Ripple Labs scored a partial victory in its legal battle with the United States Securities and Exchange Commission (SEC) dating back to 2020. Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that Ripple’s XRP (XRP) token is not a security, but only regarding programmatic sales on digital asset exchanges. However, the SEC also notched up a victory of its own, with the judge ruling…

Inflows into crypto investment funds rise as Bitcoin carries 99% of the load

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Bitcoin continues to shoulder the market, as digital asset inflows saw positive movement for the fourth consecutive week, with $137 million incoming.  According to CoinShares, this brings the four-week total to $742 million — correcting the nine weeks’ worth of outflows before the streak began and marking the largest inflow run since the fourth quarter of 2021. The continuing positive momentum might be attributed to several factors, including a recent partial victory for the crypto community in the form of a legal decision in the Securities and Exchange Commission v.…