Day: September 29, 2023

Circle Intervenes in SEC Case Against Binance, Defends Stablecoins’ Regulatory Status

The SEC’s case against Binance centers on its claim that BUSD was sold as an investment contract, primarily because Binance marketed it as offering yield through reward programs. In a recent development, renowned stablecoin issuer Circle has intervened in the US Securities and Exchange Commission’s (SEC) case against Binance, arguing that stablecoins should not be classified as securities. Circle Defends Binance via Stablecoins The crux of Circle’s argument is that financial trading laws should not be extended to stablecoins whose value is intrinsically tied to other assets. This intervention comes…

Musée d’Orsay Embraces Crypto to Attract New Audiences

Musée d’Orsay will also collaborate with the Tezos Foundation on a series of conferences and educational programs over the next year. The Musée d’Orsay, home to the world’s most extensive collection of impressionist and post-impressionist masterpieces, has embarked on an innovative journey to engage a broader and younger audience by delving into the world of non-fungible tokens (NFTs) and blockchain technology. The move comes after the museum faced challenges in attracting visitors during the uncertainties of the Covid-19 pandemic. In 2021, d’Orsay grappled with a decline in attendance as the…

Bitcoin shorts keep burning as BTC price seeks to hold $27K

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Bitcoin (BTC) bounced around $27,000 on Sept. 29 as a challenge to month-to-date highs dragged BTC price action upward. BTC/USD 1-hour chart. Source: TradingView BTC price maintains overnight strength Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency attempting to hold gains after a classic “short squeeze.” The day prior offered a trip past the $27,000 mark, with Bitcoin bulls unable to seal a fresh peak for September. Topping out at $27,300 on Bitstamp, BTC price strength returned to consolidate, still up 4% versus the week’s low at…

Crypto Analysts Remain Bullish SEC Postpones Spot Bitcoin ETF Verdict for BlackRock, Invesco, Bitwise

Eric Balchuna claims that by the end of 2024, there is a 95% chance that a spot Bitcoin ETF will be approved, up from a 75% likelihood this year. The United States Securities and Exchange Commission (SEC) has once again postponed its decision on multiple proposals for spot Bitcoin exchange-traded funds (ETFs). This move, affecting applications from major crypto players such as BlackRock and Invesco, has caused serious discussions among analysts. The unexpected turn of events happened two weeks ahead of schedule. This delay can be attributed to the looming…

Web3 Startup IYK Raised $16.8M in Recent Funding Round Led by A16z

The core concept of IYK revolves around the integration of NFC (near-field communication) chips into merchandise and apparel. Besides, the platform is also popular among musicians and artists. IYK, a Web3 startup whose clientele includes Adidas, Billionaire Boys Club, and Atlantic Records, has successfully raised over $16.8 million in a seed round. Founder Ryan Ouyang announced this milestone on his official X (formerly Twitter) account, emphasizing that a16z Crypto, also known as Andreessen Horowitz, led the investment round. Along with a16z, other VC firms contributing to the funding include Lattice…

What’s The Next Move For Curve DAO Token?

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Curve Finance’s native token, CRV, has recently experienced a notable uptick in value, driven by a sudden surge in whale accumulation. As the decentralized finance (DeFi) platform’s token rebounds from its November 2022 low of $0.4, crypto enthusiasts are left wondering whether this momentum is sufficient to initiate a sustained bullish trend for CRV. Over the weekend, cryptocurrency tracker Lookonchain detected an interesting activity involving two significant whales. The first whale orchestrated a substantial withdrawal, amassing a staggering 19.56 million CRV tokens valued at approximately $10.33 million from the popular…

What New Yorkers Say About Potentially Being on Sam Bankman-Fried’s Jury

The FTX founder, who has pleaded not guilty to charges including wire fraud and conspiracy, will go on trial next week in a New York City federal courtroom. The jury for the case will consist of 12 randomly selected New York State residents and two alternates.​​ CoinDesk spoke with several pedestrians in Manhattan’s Financial District to understand what this group could look like. Source