Month: August 2023

Voyager’s token transfer to Coinbase grows selloff suspicions

boss

Bankrupt cryptocurrency lender Voyager Digital transferred 1,500 Ethereum (ETH) valued at around $2.77 million and an additional 250 billion Shiba Inu (SHIB) equivalent to $2.7 million to the Coinbase Exchange. Based on blockchain data, Voyager initiated the transfer of SHIB and ETH tokens to Coinbase’s ledger on August 11. The motive behind these transactions has triggered more speculation within the larger crypto community. One theory suggests a probable sell-off, given that these recent transfers have diminished the distressed crypto lender’s wallet holdings to a mere $81.63 million worth of digital…

2050: CBDCs, AI, and the uncharted path ahead

As we stand on the threshold of an epochal shift in finance and technology, the emergence of central bank digital currencies (CBDCs) and the rise of artificial intelligence (AI) stand as the two most defining factors. Yet, itโ€™s when these forces intertwine that the real intrigue begins. Weโ€™re at a turning point, and the road weโ€™re traveling is one of no return. Money, as we knew it, is vanishing. In Sweden, a mere 9% of transactions in 2020 involved physical cash.ย Finland is on a fast track towards a cashless future,…

Legal scholars file amicus brief in support of Coinbase

boss

A group of six legal scholars specializing in securities law and related fields submitted an amicus brief in favor of crypto exchange Coinbase inย its ongoing legal battle against the United States Securities and Exchange Commission (SEC). An amicus brief is a document filed in court by a party not directly involved with the related case. It is generally used to add supporting arguments to one side of the lawsuit and emphasizes how the case will have a broader impact beyond the involved parties. The group of legal scholarsย filedย the amicus brief…

Coinbase gains legal support as scholars file amicus brief

A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC). An amicus brief is a legal instrument submitted to the court which originates from a party not directly engaged in the pertinent case. Its typical purpose is to provide supplementary arguments in favor of one side of the lawsuit while underscoring the wider implications that the case may carry beyond the immediate litigants. The…

Bitcoin centralized by corporate giants should not be feared โ€“ Michael Saylor

boss

During a recent podcast interview, MicroStrategyโ€™s Michael Saylor expressed the opinion that large corporations purchasing and then proceeding to centralize Bitcoin (BTC) should not be a cause for concern. While speaking to Natalie Brunell on the Coin Stories podcast, released on Aug. 7, Saylor emphasized the inevitability of third-party and corporate participation growing in the Bitcoin space.ย  However, he suggested that while Bitcoin enthusiasts may desire total self-control over their Bitcoin โ€“ aka self-sovereignty โ€“ it might not be the only answer, as people will be using Bitcoin for diverse…

Using courts for every crypto issue will squash innovation: Grayscale CEO

boss

Grayscale Investments CEO, Michael Sonnenshein, highlighted a potential negative outcome for the United States economy if the Securities and Exchange Commission (SEC) continues to take a one-by-one approach to regulating the cryptocurrency industry. During a recent interview with Fox Business, Sonnenshein expressed that the SEC could drive crypto firms out of the country by constantly resorting to enforcement actions against the industry. โ€œIf every crypto issue needs to go to a court of law, then as a country, we are squashing the innovation taking place here,โ€ Sonnenshein stated. Grayscale CEO…

CFTC charges individuals with crypto fraud

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Commodity Futures Trading Commission (CFTC) recently charged four people for involvement in a fraudulent crypto and precious metals trading scheme. On Aug. 11, the CFTC filed a complaint against Rene Larralde, Juan Pablo Valcarce, Brian Early, and Alisha Ann Kingrey for fraudulent solicitation. According to the agency, funds were solicited from unwitting customers under the pretext of investing money in crypto and precious metals. The four individuals used a โ€œproprietary algorithmโ€ that guaranteed more than…

More Selling? Bankrupt Voyager Sends Millions In SHIB And ETH To Coinbase

boss

Voyager Digital has been busy in recent months as it looks to sell its remaining crypto holdings on centralized exchanges. In its latest move, the bankrupt crypto brokerage has transferred millions in SHIB and ETH to Coinbase. According to on-chain data, Voyager moved SHIB and ETH tokens to Coinbaseโ€™s ledger on Friday, August 11. Millions In SHIB And ETH Transferred To Coinbase By Voyager Voyager has been selling off assets since the beginning of the year. Specifically, the latest on-chain transactions show that Voyager moved a total of $5.5 million…

Senator Lummis shows support for Coinbase against SEC

Senator Cynthia Lummis of Wyoming filed a brief supporting Coinbaseโ€™s request to dismiss a case against it by the U.S. Securities and Exchange Commission (SEC). Lummis, a Republican, reiterated her support of the crypto industry by submitting an amicus brief in solidarity with Coinbase. ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ“ Senator Cynthia Lummis backs Coinbase in its legal dispute with the SEC, filing an Amicus Brief, as reported by Cryptox. She asserts that the SECโ€™s actions are aimed at consolidating control within the industry, sidestepping ongoing cryptocurrency jurisdiction reviewsโ€ฆ โ€” BitcoinWorld (@ItsBitcoinWorld) August 12, 2023…

SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case

boss

Top Stories This Week Judge revokes Sam Bankman-Friedโ€™s bail, remands him to custody FTXโ€™s former CEO, Sam โ€œSBFโ€ Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Friedโ€™s bail and remanded him to custody, likely at the Putnam County Correctional Facility. Once his October trial begins, he could be moved to the Metropolitan Detention Center in Brooklyn. Bankman-Fried was reportedly led out of…