Day: September 9, 2023

FTX looks to claw back millions paid to Shaq, other celebrity endorsers

Advisers hired by FTX are looking to recoup some of the money the exchange paid to several sports stars for partnerships and endorsements. Alvarez & Marsal, financial advisers for Sam Bankman-Fried’s failed crypto exchange FTX, are reportedly probing whether millions of dollars paid to celebrity athletes, including tennis star Naomi Osaka and four-time NBA champion Shaquille O’Neal, can be recovered. FTX Group advisers have analyzed if certain payments dished out to athletes before the company unraveled last November can be recovered in Chapter 11 https://t.co/uvmFJG5jXR — Bloomberg Crypto (@crypto) September…

Whale Unloads 762-B At A Loss

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PEPE, the meme coin that has garnered a cult following in the cryptocurrency world, made headlines once again as an anonymous whale, rumored to go by the name “Alleged Mattfurie,” executed a huge transaction.  According to a new PEPE price update,  this enigmatic figure exchanged a staggering 726 billion PEPE tokens for approximately 345.7 Ethereum (ETH). What’s more, the acquired ETH swiftly found its way to the Coinbase exchange, adding intrigue to an already sensational move. As of the latest data from CoinGecko, PEPE is currently valued at $0.00000078, with…

USDC, USDT holders exploring ROE in ongoing Borroe.Finance presale

In a noteworthy development, stablecoin holders, especially of USDC and USDT, are swiftly turning to Borroe.Finance (ROE) in the ongoing presale.  This article delves into this shift, exploring why Borroe.Finance is becoming the focal point for crypto holders diversifying and building their portfolios. Borroe.Finance: a deeper look Borroe.Finance offers innovative features and has a visionary roadmap, explaining why investors are bullish on its prospects and actively participating in ongoing presale. Borroe.Finance blends multiple web3 features and has implemented a forward-thinking approach, explaining why supporters expect its native token, ROE, to post sharp gains…

Decentralized communication is the antidote to an Orwellian dystopia

Protecting privacy means protecting freedom, providing human dignity and ensuring safety, and none of these is optional in the digital era. Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Tim Berners-Lee envisioned the World Wide Web as a decentralized realm, ‘a place where all people had access to the best information at any time.’ But its current iteration, web2, evolved in the opposite direction in the past decades. Giant corporations like Meta, Google, Zoom increasingly…

What is quantitative easing, and how does it work?

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Although there are parallels between some measures taken in the world of cryptocurrencies and the consequences of quantitative easing, it is difficult to directly apply conventional ideas of monetary policy to cryptocurrencies due to their decentralized nature. In contrast to traditional financial systems, the idea of QE does not apply directly to the world of cryptocurrencies. Cryptocurrencies, such as Bitcoin (BTC) and Ether (ETH), run on decentralized networks and are not regulated by governments or central banks. As a result, no one institution can implement conventional monetary policy measures like…

Will Correction Trend Push BNB Under $200?

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Binance Coin (BNB) has experienced a notable setback, retracing from its overhead resistance for the third time in just two months. This downward trajectory has formed a falling wedge pattern, a technical indicator characterized by declining peaks and troughs confined within two converging trend lines. As of the latest data from CoinGecko, BNB is currently trading at $214.94, with a 24-hour decline of 0.9% and a modest seven-day gain of 0.6%. On August 31, the BNB price dipped below the critical $220 local support level, signaling the possibility of further…

Shiba Inu Sees Increase In Accumulation By Major Investors

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Shiba Inu (SHIB) seems to have hit a rough patch in recent times, as its price struggles to gain traction in the volatile crypto market. Investors who witnessed a major rally between mid-June and mid-August are now grappling with the harsh reality that these gains have been almost entirely wiped out. As we enter the final quarter of the year, Shiba Inu’s price has exhibited a rather lackluster performance. The token has teetered dangerously close to its July/August lows, casting a shadow of doubt over the optimism that once surrounded…

Ripple’s CLO calls SEC’s latest filing “Hypocritical Pivot”

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Stuart Alderoty, Ripple’s Chief Legal Officer and General Counsel in the SEC v. Ripple Labs case, has characterized the United States Securities and Exchange Commission’s (SEC) latest submission as a “contradictory shift” and contends that it holds little sway.  Following the recent filing by the U.S. SEC to reinforce its interlocutory appeal, Stuart Alderoty, Chief Legal Officer at Ripple, commented on X, referring to the submission as another instance of a “hypocritical pivot.” Alderoty highlighted what he sees as Chairman Gary Gensler’s inconsistency, manipulative actions and appetite for expanded regulation.…

Senators unveil bipartisan blueprint for comprehensive AI regulation

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Two senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation on Friday, Sep. 8, as Congress intensifies its endeavors to regulate this emerging technology. The plan put forward by Senators Richard Blumenthal (D-Conn.) and Josh Hawley (R-Mo.) advocates for mandatory licensing for AI firms and makes it clear that technology liability protections will not shield these companies from legal actions. In a statement on X (formerly known as Twitter), Blumenthal expressed that this bipartisan framework represents a significant step forward—a robust and comprehensive legislative plan for concrete and enforceable…

NFT restaurant crumbles, Binance NFT ends Polygon support and more

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Bold plans for a nonfungible token (NFT)-based restaurant and private members lounge in San Francisco have ended abruptly after the company behind the project halted construction due to challenging macroeconomic factors. The two venues were being built on Salesforce Park and were going to be dubbed the “Sho Restaurant” and “Sho Club Sky Lounge.” The latter would only be accessible to holders of the Sho Club NFTs, which cost anywhere from $7,500 to $300,000, and offered access to other future Sho Group hospitality offerings. Speaking with San Francisco-focused news website…