Month: July 2023

Namibia Repeals Crypto Ban with New Regulations for Exchanges

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African countries are moving to the forefront to regulate crypto as the government of Namibia has become the latest to officially sign a law to regulate the Virtual Asset Service Providers operating in the country. The law was approved by Namibia’s National Assembly on July 6, signed by the President on July 14, and inserted into the Gazette of the Republic of Namibia on July 21. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto!…

SEC appeal could amplify Ripple win, says Ripple Labs legal chief

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Concerns of a potential appeal by the United States securities regulator to the landmark Ripple ruling earlier this month were shrugged off by Ripple’s chief legal officer Stuart Alderoty. Alderoty believes if the SEC takes the case to an appeal, the court could move to consolidate Ripple Labs’ partial victory over the financial regulator even further. Speaking on a July 26 TechCrunch podcast, Alderoty reiterated his position that the XRP (XRP) token does not constitute an investment contract and that the Ripple team would not “shy away” from any appeal…

PacWest stock flash crash recovers after rescue merger with Banc of Cali

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Shares in PacWest bank flash crashed by 27% on July 25 only to quickly recover in after-hours trading on the news it had merged with the Banc of California. PacWest Bancorp stock slumped from $10.33 to $7.50 in late trading on July 25, sparking concern among the finance and crypto community, with some asking if “the next banking collapse” was starting. Share prices recovered in after-hours trading on July 25 and were priced at $10.10 at the time of writing, according to Google Finance. $44 billion bank PacWest Bancorp $PACW…

TRX Trades Near Key Juncture, Can It Rally Again?

Tron price is consolidating near the $0.080 support against the US Dollar. TRX could outperform Bitcoin if the bulls stay active above $0.080. Tron is holding major support near $0.080 against the US dollar. The price is trading above $0.0805 and the 100 simple moving average (4 hours). There is a crucial bullish trend line forming with support near $0.0810 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could start a decent increase if there is a move above the $0.0835 resistance. Tron Price…

Dogecoin Registers Biggest Single-Day Gain in 4 Months, Futures Open Interest Tops $500M

The notional open interest, or the dollar value locked in the number of active perpetual futures contracts, has topped the $500 million mark for the first time since April 19, per data tracked by Coinglass. The tally has more than doubled in two weeks. In DOGE terms, open interest has surged to 6.2B, nearing the peak of 6.43B reached on April 8. Source 500MBiggestDogecoinFuturesGainInterestMonthsOpenRegistersSingleDayTops CryptoX Portal

CFTC charges Tennessee couple over ‘Blessings of God Thru Crypto’ scheme

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A Tennessee husband and wife are facing charges over “Blessings of God Thru Crypto” — an allegedly fraudulent investment scheme that swindled at least $6 million from over 100 victims in just six months. A July 24 complaint from the Commodity Futures Trading Commission (CFTC) said Michael and Amanda Griffis used the connections they made in their real estate business to convince people to fork their savings over to a multi-million dollar investment pool between July 2022 and January 2023. These included mortgage brokers and former customers of their real…

Bitcoin Price Could Recover But Upsides Might Be Attractive To Bears

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Bitcoin price is attempting a recovery wave above the $29,200 level. BTC must clear the $29,600 resistance to start a decent recovery wave. Bitcoin is consolidating above the $29,000 support zone. The price is trading below $29,600 and the 100 hourly Simple moving average. There is a short-term rising channel forming with support near $29,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but upsides might be limited above the $29,600 resistance. Bitcoin Price Faces Resistance Bitcoin price extended its decline below…

Grimace deploys on DogeChain, plans to launch DEX and P2E game

Grimace Coin is a meme coin project on DogeChain. It launched following a light-hearted exchange on Twitter between Elon Musk and McDonald’s. This prompted a team of developers to release GRIMACE, the Grimace Coin’s native token. In the past, Musk has tweeted about Dogecoin (DOGE), driving prices higher. The DRC-20 standard   DRC-20 tokens are the native crypto assets of the DogeChain network. They are similar to ERC-20 tokens on Ethereum. However, they can hold many assets, including digital currencies, non-fungible tokens, and more. The launch of GRIMACE on DogeChain has…

Miami Heat’s Jimmy Butler seeks dismissal from Binance promo class suit

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Professional basketball player and Miami Heat’s Jimmy Butler has asked to be dismissed from a class action lawsuit targeting celebrities involved in the alleged promotion of unregistered securities by Binance, saying tweets he appeared in did not promote the named securities. In a July 24 filing, Butler’s lawyers argued three tweets he appeared in promoting Binance between Feb. 2 and 13, 2022, did not mention alleged unregistered securities and in turn could not have helped to promote them. They asserted Butler’s tweets did not recommend any investment and instead warned of…

Namibia signs crypto exchange regulation bill into law

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The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges. On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia after previously being approved in Namibia’s National Assembly on July 6 and signed by President Hage Geingob on July 14. The bill called the Namibia Virtual Assets Act 2023 aims to assign a regulatory authority to supervise crypto exchanges in the country. It is the first…