Day: September 26, 2023

Upcoming Optimism Unlock Threatens To Drag OP Below $1

boss

The Optimism native token OP is now in the line of fire with millions of tokens set to be released into circulation. This threatens the altcoin’s price which is already on a downward spiral after carrying out its 3rd airdrop. Optimism Set To Unlock 24 Million Tokens In the latest iteration of its token unlock events, the Optimism network is looking at over 24 million tokens being unlocked and brought into circulation. On-chain token tracking website Token Unlocks reports that the 24.16 million token is worth approximately $30.7 million at…

Bitwise amends spot Bitcoin ETF application with new, detailed argumentation

boss

Bitwise Asset Management has filed an amended application for a spot Bitcoin exchange-traded fund (ETF), beefing it up with 40 pages of new text responding to the United States Securities and Exchange Commission’s objections to the product. However, it still might not be enough to satisfy regulatory requirements, a company executive warned. Bitwise is among the six financial firms whose spot Bitcoin (BTC) ETF applications are on hold after the SEC delayed its consideration. That move came after a court overturned the agency’s rejection of a Grayscale Investments application to…

How Staking Rates Can Drive the Crypto Economy Forward

In traditional finance, borrowing, lending and derivative products are often priced relative to a standard benchmark that provides a basis for comparison and evaluation. This gives market participants a degree of transparency and certainty as they pay or receive a rate that is priced above or below a known reference rate, calculated by a third party, rather than be subject to something potentially arbitrary and bespoke. As a result, service providers can compete relative to a common reference. Applied to the crypto industry, staking providers that pay yields relative to…

Former White House official will lead Ripple’s policy and government arm

boss

Lauren Belive, a former official with the White House’s Office of Legislative Affairs and policy director with the United States House Committee on Rules, has joined crypto firm Ripple as its head of U.S. public policy and government. In a Sept. 26 announcement on LinkedIn, Belive said she had accepted the policy position at Ripple to lead engagement in Washington D.C. and across the United States. She had previously worked in similar roles at Softbank Group, Zoom, and Lyft following her experience in government. “With regulatory landscapes evolving, it’s paramount…

Bitcoin Spot Trading Volume Hit Six-Year Low

boss

Consistent with the volatile crypto market, the past few months have been filled with uncertainty for Bitcoin (BTC). However, the bears appear to be in control, with the premier cryptocurrency trending toward the $26,000 mark in the past few days. Despite the struggling Bitcoin price action, investors seem uninterested in taking short-term interests or cutting their losses, with BTC spot trading volumes hitting lows rarely seen in years. “Macroeconomic Scenario” Responsible For Bitcoin Volume Decline According to recent research from on-chain analytics provider CryptoQuant, Bitcoin spot trading volume has declined…

Sam Bankman-Fried Can Ask DOJ Witnesses About Drug Use

Judge Lewis Kaplan, of the Southern District of New York, resolved the majority of outstanding in limine, or pretrial, motions in a 16-page order Tuesday, allowing the DOJ to admit certain evidence. He also denied the DOJ’s motions to block the defense team from cross-examining witnesses about privileged issues, and denied Bankman-Fried’s team’s motion to block any evidence tied to the cryptocurrency exchange’s bankruptcy. Source

British Man Reveals $2,100,000 Loss From Downfall of Crypto Exchange FTX: Report

boss

One British man reportedly lost millions of dollars when the now-defunct crypto exchange FTX imploded in November. According to a new BBC report, Sunil Kavuri may have suffered the largest amount of investment losses from the FTX scandal than any other British citizen. Kavuri tells the BBC that he started worrying about his crypto investments on the FTX exchange when he got a message that withdrawals were suspended on the platform. “I was on the computer for basically 24 hours refreshing the page and trying to email the FTX support…

Taiwan Implements Stricter Regulations, Prohibits Unregistered Foreign Crypto Exchanges

boss

Taiwan’s Financial Supervisory Commission (FSC) has introduced a series of new crypto regulations aiming to enhance investor protections. These regulations aim to fortify oversight and safety in the cryptocurrency industry, media reports said. On September 26, the FSC issued a comprehensive set of industry recommendations specifically tailored for virtual asset service providers (VASPs) operating within Taiwan. These guidelines serve as a blueprint for regulating the cryptocurrency sector in the country and encompass various industry best practices. Among the key provisions included in the guidelines are the separation of exchange treasury…