Day: September 11, 2023

Crypto companies form Texas blockchain group to advocate for clear regulations

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A group of crypto and blockchain firms joined together to create a Texas crypto advocacy group, according to a Sept. 11 announcement. The group is called “Crypto Freedom Alliance of Texas,” and is founded by a16z crypto, Coinbase, Ledger, Bain Capital Crypto, Blockchain Capital, and Paradigm. The group is promoting “the development of coherent and predictable regulations for digital assets in Texas.” #Crypto Freedom Alliance of Texas Launches to Support Clear Digital … – Business Wire https://t.co/kn9LdN5zj1 pic.twitter.com/VzgqpEc0uC — Stock Market News (@Stock_Market_Pr) September 11, 2023 To further its goals,…

Bitcoin Flash Crashes To New H2 2023 Lows, $20,000 Incoming?

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Bitcoin, the world’s most valuable cryptocurrency, is free-falling, looking at price action on September 11. From the daily chart, BTC is trading at $25,135, a marginal improvement after dropping to H2 2023 lows of $24,951 minutes earlier following an unexpected dump in the early trading hours of the New York trading session.  The Bitcoin Sell-Off Takes Form The crash on September 11 saw the coin drop below the consolidation of the past few trading days with the bearish breakdown, looking at price action, canceling bulls of August 31, and setting…

How senators plan on regulating AI: Law Decoded, Sept. 4–11

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Last week, two United States senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation. The framework put forward by Senators Richard Blumenthal and Josh Hawley advocates for mandatory licensing for AI firms and makes it clear that technology liability protections will not shield these companies from legal action. The framework proposes creating a licensing system overseen by an independent regulatory body. It mandates that AI model developers register with this oversight entity, which would possess the authority to conduct audits of these licensing applicants. It also suggests that Congress…

Arbitrum (ARB) falls to all-time low as network usage metrics decline

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Arbitrum has emerged as a leading contender within the Ethereum network’s layer-2 scalability solutions, boasting a significant total value locked (TVL) and notable activity. However, between Sept. 9 and Sept. 11, the price of Arbitrum (ARB) tokens experienced a sharp decline of 14.5%, marking its lowest point in history. Investors are now eagerly seeking insight into the factors driving this movement and questioning whether Arbitrum still possesses the competitive edge, especially considering that irrespective of the ARB token performance, the network TVL exceeds $1.6 billion. Arbitrum (ARB) vs. competitors Polygon…

Millions in Bitcoin, Ether and Arbitrum Deposited to Exchanges By Jump Trading, Wintermute, Abraxas

CryptoX – Cryptocurrency Analysis and News Portal Asset manager Abraxas Capital transferred 14,130 ETH – worth roughly $22.5 million – to Bitfinex in two transactions, blockchain analytics firm Arkham Intelligence noted in an X post. Major market maker Jump Trading sent nearly 236 BTC – worth $5.9 million – to Binance in one installment, Arkham added. Source The post Millions in Bitcoin, Ether and Arbitrum Deposited to Exchanges By Jump Trading, Wintermute, Abraxas appeared first on CryptoX. CryptoX Portal

Defiant Gensler to Revisit Crypto Grievances in Senate, Despite XRP, Grayscale Setbacks

While Gensler will be highlighting recent enforcement actions and two of the agency’s rule proposals that effect crypto firms – a proposal on custody and one on redefining the exchange definitions to formally incorporate crypto platforms – he’ll also advise the lawmakers he won’t be able to talk about any “active, ongoing litigation,” which potentially sets aside the topics the industry is most eagerly watching, like the SEC’s high-profile cases against Coinbase and Binance. Source

$1.16B Solana, $560M Bitcoin – Is Trouble On The Horizon?

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In a recent Monday court filing, it was disclosed that the estate of bankrupt crypto exchange FTX has amassed approximately $7 billion in assets (3.4B in crypto), including $1.16 billion worth of Solana (SOL) tokens and $560 million in Bitcoin (BTC).  The news sent shockwaves through the cryptocurrency market, with SOL and BTC experiencing negative price movements. SOL And BTC Experience Declines As FTX Prepares For Liquidation Solana (SOL), trading around the $20 level on Sunday, witnessed a significant decline in response to the news. Its price plummeted to its…

Blockchain could authenticate AI as crypto racks up court victories: Rep. Emmer

Blockchain could be used to authenticate the real from what is generated by artificial intelligence, Congressman Tom Emmer suggested Sept. 11 at the Permissionless II conference. That would combine nicely with other progress being seen in United States cryptocurrency policy, he said. Speaking on a panel, Emmer began on a cautious note, saying the recent Ripple and Grayscale wins in court are still subject to appeal. But an upcoming United States Supreme Court ruling “is going to perhaps […] put a stake into the heart of the administrative state.” Emmer…

XRP bucks trend as crypto assets experience 4th straight week of outflows

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Cryptocurrency asset outflows for the week of Sept. 3 through 9 totaled $59.3 million, bringing the current run to $249 million over four consecutive weeks.  Bitcoin (BTC) experienced the bulk of activity last week, with its $68.9 million in outflows offset by Short Bitcoin inflows in the amount of $15.2 million and $0.7 million from XRP (XRP). According to CoinShares, regulatory and financial market insecurity are to blame for the streak: “We believe continued worries over regulation of the asset class and recent dollar strength are the most likely reasons…

Rollbit, Arbitrum, The Graph lead losses, Bitcoin dips below $25,000: Markets

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Rollbit, Arbitrum, and The Graph bear the brunt of crypto market fluctuations as Bitcoin falls below $25k for the first time since June. Cryptocurrency markets have seen a slight wave of volatility, as the overall market is down by 2.8% in the past 24 hours. Among the top losers were Rollbit Coin (RLB), Arbitrum (ARB), and The Graph (GRT).  Rollbit Coin (RLB) nosedived 18.5% within a day, currently trading at $0.1293 at the time of writing. Arbitrum is also down by 10% over the same time frame. Indexing token The…