Month: September 2023

Shiba Inu Sees Increase In Accumulation By Major Investors

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Shiba Inu (SHIB) seems to have hit a rough patch in recent times, as its price struggles to gain traction in the volatile crypto market. Investors who witnessed a major rally between mid-June and mid-August are now grappling with the harsh reality that these gains have been almost entirely wiped out. As we enter the final quarter of the year, Shiba Inu’s price has exhibited a rather lackluster performance. The token has teetered dangerously close to its July/August lows, casting a shadow of doubt over the optimism that once surrounded…

Ripple’s CLO calls SEC’s latest filing “Hypocritical Pivot”

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Stuart Alderoty, Ripple’s Chief Legal Officer and General Counsel in the SEC v. Ripple Labs case, has characterized the United States Securities and Exchange Commission’s (SEC) latest submission as a “contradictory shift” and contends that it holds little sway.  Following the recent filing by the U.S. SEC to reinforce its interlocutory appeal, Stuart Alderoty, Chief Legal Officer at Ripple, commented on X, referring to the submission as another instance of a “hypocritical pivot.” Alderoty highlighted what he sees as Chairman Gary Gensler’s inconsistency, manipulative actions and appetite for expanded regulation.…

Senators unveil bipartisan blueprint for comprehensive AI regulation

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Two senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation on Friday, Sep. 8, as Congress intensifies its endeavors to regulate this emerging technology. The plan put forward by Senators Richard Blumenthal (D-Conn.) and Josh Hawley (R-Mo.) advocates for mandatory licensing for AI firms and makes it clear that technology liability protections will not shield these companies from legal actions. In a statement on X (formerly known as Twitter), Blumenthal expressed that this bipartisan framework represents a significant step forward—a robust and comprehensive legislative plan for concrete and enforceable…

NFT restaurant crumbles, Binance NFT ends Polygon support and more

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Bold plans for a nonfungible token (NFT)-based restaurant and private members lounge in San Francisco have ended abruptly after the company behind the project halted construction due to challenging macroeconomic factors. The two venues were being built on Salesforce Park and were going to be dubbed the “Sho Restaurant” and “Sho Club Sky Lounge.” The latter would only be accessible to holders of the Sho Club NFTs, which cost anywhere from $7,500 to $300,000, and offered access to other future Sho Group hospitality offerings. Speaking with San Francisco-focused news website…

Congressman Tom Emmer seeks amendment to limit SEC’s crypto oversight

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Tom Emmer, the Majority Whip of the U.S. House of Representatives, who has previously expressed concerns about the Securities Exchange Commission’s (SEC) actions in the cryptocurrency industry, on Friday, Sep. 8, introduced a significant amendment that once more drew attention to the SEC’s actions. In his statement, Tom Emmer criticizes Gary Gensler, alleging that the SEC chair has overstepped his authority, which is negatively affecting the American people. Emmer urges Congress to utilize their available methods and proper procedures to thwart any potential misuse of taxpayer funds by Gary Gensler…

SEC urges court to grant Ripple Labs appeal citing ‘knotty legal problems’

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The U.S. Securities and Exchange Commission has submitted a filing urging the court to grant its motion to appeal a ruling from the Ripple Labs lawsuit that deemed that XRP was not a security when sold to retail investors. The agency argued that there are “knotty legal problems” surrounding the court’s application of the law — specifically the Howey Test — that warrant a review. #XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The SEC has filed its Reply Memorandum in Further Support of its Motion to Certify Interlocutory Appeal.https://t.co/KE1MzYKbVD — James…

Turkey sentences Thodex founder to over 11,000 years in prison

Turkish crypto exchange Thodex’s founder and his two siblings face over 11,000 years in jail each after being convicted of fraud, money laundering, and running a criminal organization. A Turkish court sentenced Faruk Fatih Ozer — the man behind Thodex, a crypto exchange that went bankrupt in 2021 — to 11,196 years and 10 months in prison for crimes including fraud alongside his two siblings. According to a Sept. 7 report by state-run Turkish news agency Anadolu, the Istanbul court delivered its verdict to Ozer and his two siblings —…

Crypto VC funding rebounds in August, climbing 20% to $660m

Crypto venture capital investments surged by 20% in August, reaching $660 million, up from $550 million in July. In a potential shift of tides, the crypto venture capital sector witnessed a slight uptick in funding during August despite the ongoing bear market. The latest data suggests that while the number of projects securing funds has decreased, the total amount of funding has risen. According to a Sept. 7 monthly report by Wu Blockchain, the venture capital investments in the crypto space amounted to $660 million in August, marking a 20%…

NounsDAO Barrels Toward Treasury Split After NFT Holders Rally for ‘Rage Quit’

Under the crypto club’s newly enacted rage quit rules, if 20% of Nouns NFTs call for a “fork” they can split from the main group and take their share of the project’s 30,620 ether tokens (worth about $50 million at press time) with them. Each Nouns NFT is worth about 36.5 ETH ($59,600) in book value, giving the current fork a treasury of 7,598 ETH (about $12.4 million). Source

EOS aims to catch up with Borroe.Finance and Shiba Inu’s momentum

EOS supporters are bullish, hoping the latest regulatory approval in Japan will help sustain the upswing. For Shiba Inu (SHIB), all eyes are on Shibarium following its relaunch. Supporters expect prices to edge higher as the layer-2 blockchain finds adoption. Considering investors’ confidence in Borroe.Finance (ROE), most are convinced its native token, ROE, is a superior alternative to leading altcoins. EOS pinning hopes on regulatory approval for recovery EOS has been steady following the unexpected crash on Aug. 17. However, many holders expect the latest regulatory approval to support prices, even…