Top Stories This Week Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other…
Day: July 22, 2023
Solana’s Parrot Protocol submits proposal to go tokenless, investors risk face -89% returns
A recent proposal from Parrot Protocol’s team, a Solana-based liquidity network, has sparked controversy among its community members. The proposal, up for vote until July 27, calls for the redemption of its PRT tokens for liquid treasury value, and the transition to a no-token protocol. Based on the proposal, the PRT redemption price was established at $0.0045 per token. According to data from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a current return on investment (ROI) of -89% for investors in its Initial DEX…
Exploring top 5 peer-to-peer crypto exchanges
In the ever-expanding landscape of cryptocurrency exchanges, peer-to-peer (P2P) platforms have gained significant traction in recent years. They facilitate direct trading between users, eliminating the reliance on intermediaries. As the popularity of P2P exchanges continues to soar, we examine the top 5 platforms preferred by traders. Among industry leaders, these five crypto exchanges offer broad options, enhancing trader experience. Elbaite Elbaite, a self-custodial cryptocurrency exchange, was designed by a team of crypto traders concerned with the insecurity in mainstream centralized exchanges. Elbaite prioritizes product and user experience and is committed…
Parrot Finance early backers to lose 90% of investment in contentious proposal
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Parrot Finance is facing a redemption vote two years after raising over $80 million in a public token sale during Solana’s heyday. The proposed redemption program seeks to end Parrot’s governance token, PRT, with more than $80 million from its treasury set to be distributed among holders at $0.0045 per token. The price would drastically devalue the investment of early backers, causing them to recoup just one-tenth of their initial investment of $0.04 per token. Critics…
Ripple applies for crypto license in the United Kingdom
Payment protocol Ripple has recently applied for a registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA), a spokesperson for the firm told Cointelegraph. The company is also seeking a payments license in Ireland as part of its massive investment in the region. The registration was submitted after Ripple’s partial win against the United States Securities and Exchange Commission over the classification of its XRP (XRP) token as a security. The decision, viewed as a win by Ripple and the broader crypto community, considered the…
Elbaite review: empowering users with self-custody
For crypto traders who prioritize self-custody, security, and peer-to-peer trading, Elbaite can be an option to consider. The Australian cryptocurrency exchange operates on a non-custodial model, allowing users to trade directly from their own crypto wallets. By embracing this approach, Elbaite not only aims to provide a safer trading environment but also offers cost-effectiveness and efficiency. Elbaite’s inception steps from the personal experiences of founders Morty and Samira Tollo, who encountered exchange hacks and other issues when using centralized exchanges. They created Elbaite peer-to-peer exchange that allows users to retain…
Few people sent money to El Salvador using Bitcoin and Crypto in H1 2023
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied El Salvador has recorded a notable drop in remittances posted in Bitcoin and other cryptocurrencies in H1 2023. Recent data from Banco Central de Reserva (BCR), El Salvador’s central bank, indicates the country’s crypto remittance program saw a 26.5% drop in usage, even as remittances grew by more than 5%. A snippet of the data shared by journalist and university professor Edwin Segura on July 22 via Twitter shows that Salvadorans living abroad sent back nearly $4 billion…
Indonesia unveils national crypto exchange and clearing house
Indonesia has introduced a national crypto asset exchange and clearing house to foster transparency and security for digital asset investors in the region. The bourse, which has been operational since July 17, 2023, will list existing licensed crypto companies such as Binance’s Tokocrypto and Indodax as traders. Indonesia fostering crypto adoption When nations like Kuwait are imposing blanket bans on crypto, the Indonesian government has introduced a new national crypto exchange to enhance transparency and foster investor protection. Operated by PT Bursa Komoditi Nusantara (BKNI), a subsidiary of the Indonesian Commodity Futures…
What is Shibarium? | Blockchain News
Introduction to Shibarium Shibarium is a Layer 2 (L2) blockchain solution developed by the Shiba Inu project, a decentralized community inspired by the Ethereum blockchain. The development of Shibarium is part of the Shiba Inu project’s mission to create a decentralized ecosystem that includes its own blockchain, decentralized exchange (ShibaSwap), and various tokens (SHIB, LEASH, and BONE). As stated in the official Shiba Inu blog, Shibarium is “being built to fulfill Ryoshi’s vision” and is seen as a “transitional evolution of the Shiba Ecosystem”. The Genesis of Shibarium Shibarium was…
Celsius Network reaches settlements to exit bankruptcy
Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings, according to court filings on July 20. The settlements will be analyzed by Judge Martin Glenn at a hearing on August 10 and address $78.2 billion in unsecured claims. Any responses and objections should be submitted to the court by August 3. One of the agreements resolves claims over accusations of fraud and misrepresentation by Celsius management by increasing customers’ recoveries by 5%. Account holders can still retain rights…