Day: August 12, 2023

CFTC Files Fraud Charge Against ‘Blockchain’ Entity That Claims To Grow Customer Funds

The Commodity Futures Trading Commission has filed a complaint in the US District Court for the Middle District of Florida against four individuals and their unincorporated entity, Fundsz. This complaint accuses them of fraudulent solicitation from customers to supposedly trade in cryptocurrencies and precious metals. According to its website, Fundsz claims to be a decentralized platform that utilizes “revolutionary” blockchain technology that empowers individuals, charities, and institutions to raise recurring and sustainable income.  Fundsz Makes Up Fictional Weekly Returns For Clients, CFTC Says In a press release published on August…

Polkadot Bearish Trends Set The Stage For Bullish Possibilities

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Polkadot (DOT) has managed to capture the attention of traders and investors alike. Despite a persistently bearish market structure, recent indicators point towards a potential bullish recovery on the horizon.  As of the latest data from CoinGecko, DOT is currently trading at $5.02, with a 0.7% gain in the past 24 hours and a 1.5% increase over the past seven days. Polkadot price action today. Source: Coingecko With the broader market experiencing an upward price trajectory, DOT buyers are poised to reap potential benefits. Analyzing the market dynamics, the Relative…

Visa launches card payments for on-chain transaction fees

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Visa has been exploring ways to allow users to pay blockchain gas fees directly with a credit or debit card. Gas fees are required for transactions on blockchain networks like Ethereum (ETH). Traditionally, users needed to hold balances of native cryptocurrencies like ETH to cover these fees. In an internal experiment, Visa leveraged smart contract technology to let users pay gas fees in fiat currency through a linked Visa card. This aims to remove the need…

Solana Price Sparkles With 9% Increase

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Solana (SOL) has managed to shake off recent price dips, rekindling bullish optimism among investors. This resurgence comes on the heels of a determined effort by sellers to flip the altcoin’s trajectory bearish, following a price rejection at the critical $29 resistance level.  However, SOL’s retreat from this resistance proved to be a strategic move as it found support in the bullish order block (OB) at $22, setting the stage for a renewed uptrend. SOL’s journey from the formidable $29 price mark to the bullish order block at $22 was…

Kraken dominates US altcoin market liquidity in July

In July, Kraken reinforced its dominance as the top platform for altcoin trading in the US. Kaiko reports reveal that Kraken commanded nearly 50% of the market depth for the top 10 altcoins. On Aug. 9, Kaiko’s research analyst, Dessislava Ianeva, spotlighted Kraken’s significant altcoin market influence. 📈🤔In July, Kraken emerged as the most liquid platform for alts in the US.👉 Its claiming almost half of the market depth for the top 10 alts. pic.twitter.com/2fumt7yi9a — Dessislava Ianeva (@DessislavaIane2) August 9, 2023 Known for its impressive euro volume and liquidity,…

Curve Finance vows to reimburse users after $62 million hack

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Curve Finance, a decentralized finance (DeFi) platform for lending stablecoins, has officially stated its intention to reimburse users who were impacted by the recent breach resulting in a $62 million loss from the system.  According to a post by Curve Finance, ongoing investigations are yielding progress, with approximately 79% of the funds successfully recuperated. The platform further emphasizes its current priority, which revolves around assessing the proportional portions of each impacted user. This evaluation aims to ensure an equitable distribution of resources. The incident, which occurred on July 30, involved…

SEC delays Bitcoin ETF proposal, seeks public input

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC has postponed its decision on the Ark Invest & 21Shares Bitcoin ETF proposal as it’s soliciting feedback from the public. The recent actions of the Securities and Exchange Commission (SEC) towards the spot Bitcoin (BTC) ETF proposal by Ark Invest and 21Shares have garnered significant attention. Contrary to widespread anticipation, the SEC did not deliver a clear verdict – neither an approval nor a rejection. As revealed in their official documentation, the SEC has…

Shiba Inu, Dogecoin, and DigiToads meme coins under the lens

Meme coins, especially Dogecoin (DOGE), Shiba Inu (SHIB), and DigiToads (TOADS), have gained recognition in crypto due to their engaged communities and rapid growth. DigiToads aims to address limitations associated with traditional meme coins. The platform offers practical applications and employs a deflationary model. The presale success indicates investor interest and its potential influence within the meme coin domain. In this article, we explore the rise of meme coins and analyze the factors that contributed to their current status. DigiToads centers on web3 and play-to-earn (P2E) gaming sectors, offering an immersive…

Shiba Inu Keeps Energy Alive, Snags 26% Gain

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Shiba Inu (SHIB) has transformed its breakout into a remarkable rally, continuing to build momentum in the ever-evolving crypto landscape. The surge has not only captivated the attention of crypto enthusiasts but has also brought a considerable number of meme token holders out of the depths of losses, marking a significant turning point in their investment journey. With SHIB’s current price resting at $0.00001120 per CoinGecko, the token has showcased an impressive 12.5% surge in the past 24 hours, while its seven-day journey witnessed a striking 25.8% increase. SHIB price…

DeFi tries to recover from Curve hack, but exploits continue: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The DeFi ecosystem is yet to recover from the crisis brought on by the Curve Finance hack, and even though the issue seems contained, another set of exploits hit the DeFi ecosystem this past week. DeFi protocol Steadefi is the latest victim of an ongoing exploit as the ecosystem was still recovering from the Curve crisis. Binance came forward to invest $5…