Month: August 2023

Garlinghouse asserts XRP’s position amid SEC legal tangle

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ripple defends XRP‘s status after the SEC’s interlocutory appeal, highlighting a pivotal July 13 ruling and asserting their regulatory stance. The legal battle between Ripple and the US Securities and Exchange Commission (SEC) intensifies, with the latest developments stemming from the regulator’s recent interlocutory appeal request. On July 13, Ripple achieved partial success in a summary decision. However, unsatisfied with the verdict, the SEC is now seeking an interlocutory appeal. This type of appeal challenges a…

LUNC Sheds 13% Of Its Value

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Terra Luna Classic (LUNC) finds itself grappling with a significant setback as its price takes a sharp dive. Within the span of just 24 hours, the coin experienced a 13% decline in value.  The swift sell-off, which began on August 16, triggered a cascading effect that sent LUNC’s price plummeting from its recent peg of $0.00007734 to a new low of $0.00006512. While this may appear as a dramatic swing, it echoes the bearish sentiment that has persistently lingered around the coin throughout the past month. LUNC Battles To Maintain…

SEC seeks to question Terraform Labs co-founder Daniel Shin in Korea

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The United States Securities and Exchange Commission has been granted a motion to seek assistance from South Korea to question Terraform Labs co-founder Daniel Shin — as it builds its case against the firm and co-founder Do Kwon.  On Aug. 16, District Judge Jed Rakoff granted the SEC’s July 10 motion asking if it could seek to question the Terra co-founder, along with requesting documents from the Seoul-based payments provider Chai Corporation he founded. In its July filing the SEC said it wishes to question Shin on Kwon’s role at…

Curve (CRV) To Launch On TRON Following $2 Million Investment

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Curve Finance, a decentralized liquidity pool for stableswap and stablecoin trading, has disclosed a strategic partnership that will see the decentralized exchange (DEX) launch on the TRON network.  Curve Set To Launch On Tron And BTTC Networks Decentralized Exchange, Curve Finance has solidified its position as the second largest DEX, following the announcement of its integration into the TRON network. Curve Finance’s recent alliance with the TRON network has prompted a substantial investment from TRON DAO Ventures, a venture capital firm established by the TRON network. On Thursday, August 17,…

implementing CBDC won’t tag significant economic risks

According to Colombia’s central bank research, adopting a central bank digital currency (CBDC) is expected to have limited economic impacts, underscoring the importance of incorporating attractive attributes tailored to essential user segments. The paper indicates that the central bank is still debating whether to issue a CBDC while acknowledges the potential benefits of implementing transaction constraints to regulate usage. The working paper titled “Expected Macroeconomic Effects of Issuing a Retail CBDC” by Banco de la República, Colombia’s central bank, concluded that introducing a retail CBDC would not entail substantial macroeconomic risks. The report further…

Ethereum surges 11% after report SEC is set to approve Futures ETF

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The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected…

Why Is Dogecoin Price Down Today?

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The Dogecoin price is down around 5% in the last day following the general market crash. The meme coin which had seen improved sentiment did a quick 180 and started to bleed. However, while the Dogecoin price could only be following Bitcoin’s descent, are there other factors driving the decline? Why Is Dogecoin Price Falling? One reason that the Dogecoin price is down today is due to its proximity to Shiba Inu. The latter saw a highly anticipated Shibarium launch go awry on Wednesday, sparking rapid declines among the meme…

US Fed takes action against bank linked to FTX’s Alameda Research

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Federal Reserve (Fed) has taken enforcement action against Farmington State Bank, based in Washington, and its parent company, FBH Corporation. This action follows undisclosed changes to the bank’s business plan. Previously known as Moonstone Bank, the bank had close ties to FTX’s trading division, Alameda Research. In a statement on Aug. 17, the Fed clarified that this action aims to ensure a controlled winding down of the bank’s operations. This move is vital to protect the bank’s depositors and…