Month: September 2023

CNA Insurance excludes NFTs from coverage of $20M trust policy

CNA Financial, the seventh-largest commercial insurer in the United States, has excluded nonfungible tokens (NFTs) coverage from Schwab Strategic Trust’s policy worth $20 million. In a filing submitted to the US Securities and Exchange Commission (SEC), the insurer attached an exclusion to the document, mentioning that the bond does not cover any “loss, damage, claim, occurrence, or suit related to NFTs. The filing defined NFTs as: “Any unique digital identifier connected to any digital ledger technology which may be used to certify authenticity or ownership of anything, including but not…

Bitcoin Price Bounces Back To $26,000, Here’s Why

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In a swift turnaround from yesterday’s dip, Bitcoin (BTC) surged to nearly $26,000 during Asian trading hours on Tuesday. This recovery, which saw the BTC  climb from $25,210 to $25,973 in a mere 30 minutes (from 3:00 am to 3:30 am UTC), was not driven by any specific news event. Instead, the dynamics within the Bitcoin futures market played a pivotal role. Why Has The Bitcoin Price Bounced Upwards? Renowned analyst Skew provided a technical perspective on the price movement, referring to it as a “textbook short squeeze.” Delving deeper…

SEC’s Gensler accuses crypto industry of ‘wide-ranging non-compliance’

In written remarks submitted ahead of a hearing before the US Senate Banking Committee, SEC Chair Gary Gensler has once again reiterated his stance on crypto. The US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, doesn’t seem to change his mind on crypto despite the recent challenges the regulator faced in court. In a written testimony submitted ahead of a hearing before the US Senate Banking Committee, the SEC boss has once again doubled down on his position against the industry. He said that “most crypto tokens are subject…

CFTC Commissioner plans to modernize investor protection with technology

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CFTC Commissioner Christy Goldsmith Romero recommended regulators modernize its protection measures using technological advances as she warned that failure to do so would have a negative impact on American investors. Romero, speaking at the North American Securities Administrators Association’s annual meeting in San Diego, California, said that the government’s inability to keep pace with technology would affect the most vulnerable investors. She added: “As regulators are making policy decisions on next-generation technology, it is critical that we have a foundational understanding of the technology, and its implications for finance and…

Crypto.com Introduces New Crypto Earn Program to Customers

The platform noted that the old reward structure for USDC will no longer apply, so users can take advantage of the simplified Earn Plus system. Renowned global crypto platform Crypto.com has taken a giant leap forward by introducing its all-new Crypto Earn program known as ‘Earn Plus’. This program promises a new and improved offering with a clearer reward system, bigger allocation limits, and higher reward rates. Standout Features of ‘Earn Plus’ One of the standout features of Earn Plus is its simplified reward structure. Crypto.com understands that not all…

Apple Renews Qualcomm Deal to Supply 5G Chips till 2026

Qualcomm is expected to supply Apple with Snapdragon 5G Modem-RF Systems for smartphone launches in 2024 through 2026. Apple Inc (NASDAQ: AAPL) will rely on an external supply of modern chips to manufacture modern smartphones that support the 5G network amid delays in in-house production. According to an announcement by Qualcomm Technologies Inc, Apple has signed an agreement to extend the deal between the two companies for another three years. Notably, the prior deal between Apple and Qualcomm Technologies was set to expire this year. As a result, Apple’s iPhone…

Crypto Custodian Finoa Expands to Regulated DeFi

“An important differentiator is what we as a regulated custodian can and cannot do,” Gebbing said. “What you will not find, for example, is that we just connect Finoa wallets to any kind of decentralized app out there, permissionless DeFi and whatnot. It’s really a filtered, curated set of d’apps that you can work with.” Source

Filecoin Uphill Battle To $3.5

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Filecoin (FIL) has been facing a long-term downtrend, marked by wavering buyer confidence and a series of concerning technical indicators. A recent price analysis reveals a bearish order block at $3.6 on FIL’s one-day chart, with a closely tested liquidity zone at $3 over the past month. This downward trend has persisted since early August, as evidenced by a sequence of lower highs and lower lows. On the weekly chart, two key levels have held significant sway over FIL’s fortunes since June 2022. The resistance at $4.8 and the support…

Oracle Shares Drop Over 9% after Reporting Bleak Q1 2024 Revenue Outlook

Following an uptick in first-quarter revenue, Oracle’s board of directors approved a cash dividend of about 40 cents per share, which will be paid out to shareholders on October 26. American multinational tech company Oracle Corporation (NYSE: ORCL) shares dropped approximately 9.23 percent during the after-hours sessions to trade around $115.02. The sudden drop in Oracle shares is largely attributed to the announcement of the fiscal year 2024 Q1 financial results that did not match Wall Street’s expectations. Nonetheless, the company announced that its quarterly revenues were up 9 percent…

Alex Mashinsky Seeks to Quash FTC Case as He Defends Criminal, CEL Token Charges

CryptoX – Cryptocurrency Analysis and News Portal Mashinsky, alongside his former Chief Technology Officer Hanoch “Nuke” Goldstein, argued the FTC would need to make more rules before taking on novel cases such as marketing fraud. In a separate filing, Goldstein said he was being unjustly held guilty by association with other Celsius executives, with the FTC depending on the fact that he retweeted a blog by Celsius. Original Source The post Alex Mashinsky Seeks to Quash FTC Case as He Defends Criminal, CEL Token Charges appeared first on CryptoX. CryptoX…