Day: August 15, 2023

Former FTX exec Salame not willing to testify against SBF

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Sam Bankman-Fried’s criminal prosecution for alleged unlawful campaign donations won’t include testimony from former FTX co-CEO Ryan Salame. Information from an Aug. 14 filing by U.S. federal prosecutors shows that Ryan Salame plans to invoke his Fifth Amendment right. It protects him from self-incrimination if he is subpoenaed as a witness in SBF’s criminal trial. NEW — FTX executive and GOP megadonor Ryan Salame “has represented that if subpoenaed, he would invoke his Fifth Amendment right…

Illuvium’s collapsing token represents the problems with GameFi

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Blockchain games began as a means to effectively test technology’s true potential. However, making sure they reach that potential remains a challenge. While Illuvium was one of the most highly anticipated crypto game releases in history, the price of its ILV token has fallen significantly since 2021 — to the tune of 97%. The project’s developers have not released anything substantial for quite some time. The immersive gameplay and impressive graphics are not enough to stop the game’s token from plummeting. The same can be said of most GameFi tokens.…

Bitcoin price action is beginning to mirror BTC’s 2015-2017 pre-bull market cycle

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A recent report by the research firm Delphi Digital illustrates the predictable consistency of price action and trends within the crypto market. The report delves into the interconnectedness between the four-year Bitcoin (BTC) cycle and broader economic trends.  According to Delphi Digital analysts, the ongoing consolidation at $30,000 is similar to the period between 2015 and 2017, with indicators pointing toward an all-time high (ATH) for Bitcoin by the fourth quarter of 2024. Economic cycle’s impact on Bitcoin’s performance Delphi’s analysis draws attention to the inherent cyclical nature of the…

THORSwap (THOR) 300% Surge In A Week: What’s The Secret Behind Its Thunderous Rise?

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In recent weeks, the native token of THORSwap, THOR, has experienced a surge, with its value increasing by nearly 300%. This surge has attracted attention within the crypto community, prompting an exploration of the factors contributing to THOR’s rapid growth.  THORSwap, a cross-chain decentralized exchange (DEX) aggregator built on the THORChain network, has been pivotal in driving this surge.  THORSwap Emerges As A Leading DEX? According to a report by crypto analytics Messari, THORSwap stands out among other automated market maker (AMM) protocols by offering a range of distinctive features. …

Crypto Mining Gets Its Own Lobbying Voice in Washington

“The focus on how both the digital asset mining and energy industries can collaborate and work together to bolster energy infrastructure, increase resilience and support energy sustainability and efficiency has been lost in policy conversations,” said Tom Mapes, the new organization’s founder and president, who worked on energy policy at the Chamber of Digital Commerce, a wider crypto advocacy group. Source

Singapore Red Cross to allow crypto donations

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Singaporean branch of the nonprofit humanitarian organization Red Cross has partnered with the crypto payments gateway, Triple-A, to allow crypto donations. People can now donate four digital currencies — Bitcoin (BTC), Ethereum (ETH), USDT, and USDC. According to an announcement by Singapore Red Cross, a payment gateway is provided by Triple-A. Moreover, the nonprofit claims that payments are compatible with all wallets. Triple-A provides locked-in exchange rates. However, Singapore Red Cross stated that crypto payments…

Institutional XRP Holdings Rise Rapidly Following Ripple’s Win Over SEC

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Now that Ripple has prevailed over the SEC in court, major players are eager to get their hands on XRP. According to recent data, institutions have been getting their hands on the cryptocurrency at a steady rate, as reflected in the digital asset fund flows report.  Institutional XRP Holdings Rise Rapidly In the days following Ripple’s partial victory in the SEC lawsuit, XRP volumes and prices rose dramatically as crypto traders rushed to the cryptocurrency in anticipation of a continued bull run. However, price metrics from Coinmarketcap show that the…

US lawmakers press SEC and FINRA on Prometheum’s broker-dealer approval

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United States lawmakers on the House Financial Services Committee have demanded answers from the heads of the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regarding under what circumstances Prometheum obtained a special purpose broker-dealer license (SPBD). In separate letters dated Aug. 9, House committee chair Patrick McHenry and 20 other members wrote to SEC chair Gary Gensler and FINRA president and CEO Robert Cook. The lawmakers questioned the “timing and circumstances” of FINRA approving Prometheum’s SPBD as they were continuing to consider legislative solutions to regulatory…

Republican Lawmaker McHenry Demands SEC Chair Gary Gensler Explain How Prometheum Got Approval

The letters raise “serious questions” about whether the SEC championed Prometheum as a poster firm to represent Gensler’s position that no new laws are needed to regulate and police crypto in the U.S., just as McHenry’s committee was about to send digital assets legislation to the House floor. For its part, Prometheum’s executives have insisted that they’ve been going step-by-step through the registration process like any other firm, and co-CEO Aaron Kaplan has argued that his firm will demonstrate the right way to build a crypto platform that’s compliant with…