Day: September 18, 2023

Swisstronik raises $5m in seed round, launches private token sale

Swisstronik, a layer-1 network focused on user privacy and regulatory compliance, has announced the close of its $5 million seed funding round, and the launch of its private token sale. Swisstronik closes seed funding round After a successful seed round, Swisstronik intends to utilize the funds for team expansion, technology development, and the planned 2024 launch of its mainnet. Simultaneously, they have initiated a private token sale, providing individuals and businesses with an exclusive early investment opportunity to secure SWTR tokens required for accessing the Swisstronik Network ahead of the…

Judge Makes No Ruling in SEC-Binance Document Dispute

Rather, Magistrate Judge Zia Faruqui urged the two parties to work on the various discovery requests together, asking the SEC to narrow its request for information but allowing it to depose certain shard holders to establish whether Binance.US’s funds are safe. The crypto exchange, a branch of the global Binance entity, should share more information about its relationship with Ceffu, its service provider, he said. Source

Ethereum ICO Participant Moves $9.96 Million Of ETH To Kraken. Will He Sell?

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An Ethereum initial coin offering (ICO) participant and one of the earliest supporters of the smart contract platform has moved 6,000 ETH worth $9.96 million to Kraken, a cryptocurrency exchange, recent data from Lookonchain on September 18 reveals. The unidentified whale received 254,908 ETH when each traded for 40.31 during the crowdfunding in 2014. This amount is currently worth over $466 million at spot rates. ETH whale transfer: Etherscan Ethereum Whale Transfers Over $9.96 Million To Kraken The anonymous nature of public blockchains, including Ethereum, makes it harder to decipher the owner’s…

SEC embroiled in court cases; Hester Peirce says crypto firms shouldn’t give up on US

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Hester Peirce, one of five commissioners with the United States Securities and Exchange Commission (SEC) and an outspoken proponent of crypto, has urged lawmakers and regulators for clarity on digital assets. Speaking to Cointelegraph at the Permissionless II conference in Austin, Texas on Sept. 11, Peirce said she wouldn’t have expected the SEC to be “this far behind” in finding a solution for a regulatory framework on cryptocurrencies when she joined the commission in 2018. She pointed to countries like Switzerland and Singapore as seemingly ahead of the curve on…

Millions Exit Bitcoin, But These Three Coins Hold Their Ground

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Last week marked a significant trend as crypto funds, including those holding Bitcoin, faced significant outflows, amplifying investor concerns. While the market’s momentum has wavered for several crypto, a few resilient assets stood firm. Digital asset investment products witnessed a decline for the fifth straight week. Last week alone saw outflows amounting to $53.5 million, accumulating to nearly half a billion in aggregate outflows over the past nine weeks. Market Leaders – Bitcoin And Ethereum Feel The Brunt Bitcoin (BTC), often dubbed the “king of cryptocurrency,” bore the brunt of…

Incoming Milestone Could Be Very Bullish For XRP Price, Here’s Why

Since Judge Analisa Torres’s ruling back in July that programmatic XRP sales do not qualify as securities, the token has been on an upward trajectory in terms of growth. This time around, the XRP Ledger is close to another enormous milestone, which could spell good news for the XRP price going forward. Accounts On XRP Ledger Near 5 Million Mark In an interesting turn of events, the number of accounts that are present on the XRP Ledger has been rising rapidly. This has seen the metric barrel toward the 5…

Blockchain Capital closes funds totaling $580M for investments in crypto gaming, DeFi

Venture capital group Blockchain Capital announced the closing of two new funds, totalling $580 million, for investment in infrastructure, gaming, DeFi and consumer/social technologies. The funds will operate as Blockchain Capital’s sixth early stage fund and its first “opportunity fund,” with the latter serving as an inroad to companies who’ve already secured major funding elsewhere. We’re thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund. Together, they total $580 million and serve to reinforce our commitment to leading the global…

Can Regulators Ever Keep Up With Crypto Markets?

Either way, measuring whether regulations are “worth the cost” is a futile act. Especially in the world of crypto, where all of the real use cases are essentially ungovernable and where all excitement takes place well outside of walled gardens like Coinbase and Gemini. Mass market crypto has so far come around on a four-year timetable, and it’s only during bull markets that centralized retail crypto lending, crypto credit cards, et cetera can sound like a good idea. Source