Day: September 1, 2023

Ripple legal team opposes SEC appeal over XRP decision

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Lawyers representing Ripple in its lawsuit with the United States Securities and Exchange Commission (SEC) have suggested the regulator hasn’t met the requirements to request an appeal. In a Sept. 1 filing with U.S. District Court for the Southern District of New York, Ripple’s legal team said the SEC’s grounds for an appeal largely rested on “dissatisfaction” with a judge’s decision that the XRP token did not qualify as a security for sales to retail investors. The lawyers said “exceptional circumstances required for interlocutory appeal” were absent in the case,…

The story of a crypto influencer’s attempt to bend reality

In one of the weirder moments of my writing career, Carl “The Moon” Runefelt contacted me out of the blue seeking an “update to old information” in a May 2022 article. The article had touched on his involvement with the crypto payment platform Kasta, but Runefelt felt a pressing need a year later to get the copy changed to highlight the fact he was “not the co-founder of Kasta, only [an] investor.” An unusual request after so long — especially considering he had already made extensive comments after reading a…

Digital rupee gets big usability boost through Yes Bank integration with UPI

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The Reserve Bank of India (RBI) central bank digital currency, the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s integration of the Unified Payments Interface (UPI) with the RBI digital rupee app. Now, Yes Bank account holders will be able to make transactions with the digital rupee by scanning UPI QR codes. The UPI is a national payment portal operated by the National Payments Corporation of India (NPCI), a division of the RBI. The NPCI provides the infrastructure for both the…

Shibarium Surpasses 800,000 Wallets, SHIB Slips 2% On The Sidelines

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After overcoming initial setbacks, Shibarium, an Ethereum (ETH) layer-2 (L2) network backed by Shiba Inu (SHIB) tokens, has experienced a remarkable surge in metrics. With over 820,000 new wallet addresses and more than 90,000 daily transactions, Shibarium has demonstrated its appeal to users seeking faster, cheaper, and more private off-chain transactions while leveraging the security of the underlying Ethereum blockchain. Shibarium Emerges Strong Shibarium operates as a layer-2 network built on the Ethereum blockchain, aiming to enable faster, more cost-effective, and privacy-focused off-chain transactions while leveraging Ethereum’s security features.  The…

French authorities investigate Worldcoin’s Paris HQ

France’s and Germany’s data regulators are jointly investigating Worldcoin’s data collection methods, specifically focusing on iris scans. France’s data protection regulatory authority, CNIL, has recently focused on Worldcoin. With a probe into the company’s Paris office this week, Worldcoin is the latest digital currency platform to find itself under stringent regulatory scrutiny in the European Union. First flagged by CNIL in July, Worldcoin’s data collection methods have been under the spotlight. Concerns revolve around whether the platform’s approach to gathering iris scans for digital IDs aligns with the EU’s General…

SEC Hasn’t Met Requirements to Argue for an Appeal, Ripple (XRP) Says

July’s ruling did not “present a controlling question of law,” and neither did the SEC’s motion for an appeal, Ripple said in Friday’s filing, which added that the regulator hasn’t proven that different judges might disagree with the ruling, or that an appeal would lead to a faster end for the court case – all of which are requirements for the judge to approve an appeal, according to the filing. Source

Large Bitcoin Holders Accumulate $1.5B Worth of BTC as Price Wavers

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Bitwise withdraws Bitcoin and Ethereum ETF application

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitwise Asset Management has withdrawn its application for a Bitcoin and Ethereum Market Cap Weight Strategy ETF. Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) and Ether (ETH) Market Cap Weight Strategy exchange-traded fund. It was initially filed with the U.S. Securities and Exchange Commission on Aug. 3. This decision follows a period of increased optimism in the crypto market after Grayscale secured approval for its own ETF from the SEC. Bitwise’s Chief…

$18.7M In SUI Set To Flood The Market, What To Expect?

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The Sui Network, known for its fast-paced growth and community support, is on the verge of a notable event. On September 3rd, a massive amount of SUI tokens, worth roughly $18.7 million, will be unlocked. Given its nature and the significant sum involved, this move could have some implications for the altcoin’s market dynamics in the coming days. A Rewarding Gesture For The Early Birds? The details surrounding this unlocking event have been transparently shared with the public. According to Token Unlocks, a crypto monitoring platform, this release will encompass 35.6…

Balancer protocol exploited for $900K as DeFi hacks mount: 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. In this week’s newsletter, Ethereum staking services have agreed upon a 22% limit on all validators to ensure fair markets. August proved to be another costly month for DeFi as several protocols were collectively exploited for $16 million. In separate exploit news, Balancer protocol lost nearly $900,000 due to a vulnerability flagged months ago. Shibarium’s second launch proved more stable as the…