Day: August 17, 2023

Vitalik Buterin Has Thoughts on Social Media Fact Checking

This is worth bearing in mind in crypto, too. The aim shouldn’t be to solve all the world’s ills. Far too often blockchain projects are looking to disrupt and replace what already exists. It’s not out of the question to think this cockiness can have a negative backlash, feeding the general skepticism around blockchain and people’s anger when things inevitably go wrong — much like how social media fact checking has spurred distrust and the general collapse of the faith in institutions. Hopefully, open, permissionless crypto networks are already built…

Understanding The UK Sales Suspension

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PayPal has announced a temporary suspension of cryptocurrency sales within the United Kingdom for a minimum of three months, commencing on October 1. This decision is in direct response to the recent regulatory reforms introduced by the Financial Conduct Authority, Britain’s financial regulator.  The FCA is set to implement more stringent guidelines aimed at curbing the advertising of cryptocurrencies to British consumers, which includes the mandatory inclusion of risk warnings and the discontinuation of “refer a friend” incentives. Adapting To Regulatory Landscape In an email to customers, PayPal UK explained…

Tether discontinues USDT support on Bitcoin, Kusama, and Bitcoin Cash

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tether has announced modifications to its USDT issuance strategy, discontinuing support on the Bitcoin, Kusama, and Bitcoin Cash while indicating potential future collaborations. Tether, the issuer of the stablecoin USDT, has announced significant changes to its support on various blockchains. After an extensive evaluation focusing on security, customer service, regulatory compliance, and overall oversight, Tether halted support for USDT on the Bitcoin(BTC), Kusama(KSM), and Bitcoin Cash(BCH) platforms. The company cited insufficient traction as the primary reason,…

Bitcoin price breaks from range with drop below $28K, and options tilt toward BTC bears

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On Aug. 16, Bitcoin closed below $29,000 for the first time in 56 days. Analysts quickly pointed to this week’s Federal Open Market Committee minutes, which expressed concerns about inflation and the need to increase interest rates, as the likely cause. Despite the immediate reasons for the drop, the upcoming $580 million Bitcoin (BTC) options expiry on Friday favors the bears. They could potentially make a $140 million profit on Aug. 18, adding to the downward pressure on Bitcoin and complicating BTC’s search for a bottom. Federal Reserve minutes did not…

SEC Can Argue for Right to Appeal Groundbreaking XRP Ruling in Ripple Case, Judge Says

“The legal standard is a difficult one to satisfy, and the particulars of this case also do not help SEC’s argument in favor of appeal. In fact, the SEC itself has undermined its current arguments for an appeal by previously indicating that a decision in Ripple does not really bear on any other crypto securities lawsuit. It’s unlikely that the court will be persuaded by them speaking out of both sides of their mouth,” he said. “And even if Judge Torres does grant their motion, they then have another steep…

Buying the Dip? Shiba Inu Whale Activity Surges As Price Declines Nearly 10%

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Shiba Inu (SHIB), a dog-inspired meme coin, originally dismissed by many as just another fleeting fad, is now drawing serious attention from big players, or “whales,” in the crypto space. This attention comes amid the tokens’ recent sloppy launch of its other project, Shibarium. Blockchain security team Beosin recently reported that the newly deployed Shibarium platform has had transactions stalled in a pending state, tying up approximately 1,003 ether, equivalent to $1.8 million in locked funds.  🚨Transactions on #Shibarium are stuck in a pending state.$1.7M are currently locked on ETH.…

Judge grants SEC request to file motion for appeal in Ripple case

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Judge Analisa Torres has granted a request from the United States Securities and Exchange Commission (SEC) to leave to file an interlocutory appeal in its case against Ripple Labs. The securities regulator sent a letter to Torres on Aug. 9, saying her decision could affect multiple pending court cases.  According to United States laws, an interlocutory appeal occurs when a ruling by a trial court is appealed while other aspects of the case are still proceeding.  The decision allows the SEC to build and bring a case to the U.S. Court…

Alameda Research to claim $175m from Genesis’ assets

Alameda Research, the trading wing of the defunct exchange, FTX, has settled a claim for $175 million with the bankrupt crypto firm, Genesis, according to recent court filings. Based on legal filings unveiled on Aug. 17, Alameda Research will stake a claim of $175 million from Genesis’ assets. The deal is a marked drop from the $4 billion FTX initially demanded. Notably, the settlement also dismisses any counterclaims Genesis held against FTX. The maneuver is strategy to streamline the process of concluding the companies’ dealings and to expedite the return…

Ledger Users Can Now Buy Crypto Directly Using PayPal

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PayPal has taken another step in its crypto mission following a team-up with hardware wallet provider Ledger. This time around, the payments giant is making it possible for users to purchase crypto directly without the need for extra verifications. Ledger Live Integration With Paypal On August 16, Ledger and PaPal announced an integration to make buying cryptocurrencies easier. This feature will allow users to purchase crypto using PayPal directly from the Ledger Live app. Chairman and CEO Pascal Gauthier of Ledger made a statement about integrating Ledger Live with Paypal…