Month: September 2023

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

Circle weighs in on SEC vs. Binance case, argues stablecoins are not securities

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In a court filing, Circle argued that assets that are pegged to the U.S. dollar, like the Binance USD (BUSD) or its own stablecoin USDC, are not securities, partly because those who purchase the assets are not expecting any profit from acquiring them. According to Circle, payment stablecoins do not have the “features of an investment contract” on their own. Circle, the company that issued the USD Coin (USDC) stablecoin, has weighed in on the United States Securities and Exchange Commission (SEC) case against crypto exchange Binance, arguing that stablecoins…

Character.AI Eyes Impressive Funding at Over $5B Valuation

The potential deal might put the company’s value anywhere from $5 billion to $6 billion, Character.AI, an artificial intelligence startup founded by former Google employees, is in the early stages of discussions to secure substantial funding, possibly exceeding $5 billion in valuation, Bloomberg reported on Thursday, citing people familiar with the matter who wished to remain anonymous. According to the report, the company, having emerged as an early frontrunner in the realm of generative AI tools, has garnered substantial interest from potential investors, and these investors could put in additional…

Gemini to halt operations in the Netherlands by mid-November

New York-headquartered crypto exchange Gemini has decided to quit the Netherlands, following in the footsteps of crypto giant Binance. The company cites its inability to meet the regulators’ requirements but says it intends to return to the Dutch market.  In a letter to its Dutch users on Sept. 26, Gemini asks them to either withdraw their assets or transfer them to another wallet address, as by Nov. 17, the platform will suspend its operation in the Netherlands “due to requirements imposed by the De Nederlandsche Bank (DNB) on crypto exchanges.”…

$9 Trillion BlackRock Sees Bitcoin Spot ETF Approval Delayed, What This means

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In continuation of its recent wave of delays, the US Securities and Exchange Commission (SEC) has further delayed the Spot Bitcoin ETF application of the world’s largest asset manager, BlackRock.  SEC Request For Comments On BlackRock’s Bitcoin ETF Application In its release concerning BlackRock’s application, the SEC called for written comments on why the iShares Bitcoin Trust should be approved or disapproved. This move ultimately extends the period in which the Commission can decide on the proposed rule change, with the next deadline coming on January 15, 2024.  As part…

AMD Shares Surge Nearly 5% amid Praise from Microsoft CTO

The longstanding partnership between Microsoft and AMD has been a strategic alliance that has shaped the tech industry in various ways. A recent report has revealed that shares of Advanced Micro Devices Inc (NASDAQ: AMD) rose nearly 5% on Thursday following comments from Kevin Scott, the Chief Technology Officer of Microsoft Corp (NASDAQ: MSFT) about the chipmaker’s efforts to strengthen its position in AI, an arena long dominated by Nvidia Corp (NASDAQ: NVDA). With AMD’s stock up approximately 60% this year, investors are keeping a close eye on this tech…