Day: October 6, 2023

Exxon Mobil in Advanced Talks to Acquire Pioneer Natural Resources for $60 Billion

A filing with the SEC shows that Exxon Mobil’s third-quarter earnings received a major boost from the high crude oil prices Oil and gas giant Exxon Mobil Corp (NYSE: XOM) is said to be in advanced talks to acquire shale-focused company Pioneer Natural Resources Co. According to a Wall Street Journal report citing an anonymous source familiar with the matter, the deal is estimated to be valued at up to $60 billion and could be closed within the coming days. Earlier in April, WSJ had that the two companies met…

Ripple CTO Defends Clawback Feature On The XRPL

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Ripple’s Chief Technology Officer (CTO), David Schwartz, has always been quick to come to the defense of the crypto firm and its technology. This time, he has defended Ripple developers implementing a newly proposed ‘Clawback’ feature on the XRP Ledger (XRPL).  Why The Clawback Feature Is Necessary In a tweet shared on his X (formerly Twitter) platform, Schwartz mentioned that while initially having reservations about the feature as he felt it was “redundant,” he later realized its importance as it differed from the existing freeze feature.  The “clawback” amendment is…

Bitcoin bulls keep pressure on $28K while calls for BTC price dip grow

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Bitcoin (BTC) eased volatility into Oct. 6 as BTC price downside preparations returned. BTC/USD 1-hour chart. Source: TradingView Bitcoin keeps liquidations limited amid long, short “squeeze” Data from Cointelegraph Markets Pro and TradingView covered a flatter 24 hours for BTC/USD after a failed retest of $28,000. After lingering in a narrow range around 1.5% lower, the largest cryptocurrency was again pushing toward the $28,000 mark ahead of the Wall Street open, yet fielded fresh concerns from market participants over potential losses to come. $BTC / $USD – Update I remain…

SEC Sues Elon Musk Forcing Him to Testify in Twitter Probe, Musk Responds

Musk blamed the SEC and the Biden Administration for constant scrutiny into his Twitter acquisition while expressing his confusion and frustration in the matter. On Thursday, October 5, the US Securities and Exchange Commission (SEC) sued Elon Musk in order to force him to testify about the acquisition of Twitter last year. In a legal document filed in the Northern District of California, SEC lawyers have accused Elon Musk of non-compliance with a subpoena mandating his appearance for a September 15 testimony. This subpoena had been served to the CEO…

Kraken Boosts European Presence with Planned BCM Acquisition

In a strategic move to bolster its European expansion, cryptocurrency exchange Kraken has announced its intention to acquire Coin Meester B.V. (BCM), a Netherlands-based digital asset broker. The planned acquisition follows the recent implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, which governs the operations of crypto exchanges in the region, including […] In a strategic move to bolster its European expansion, cryptocurrency exchange Kraken has announced its intention to acquire Coin Meester B.V. (BCM), a Netherlands-based digital asset broker. The planned acquisition follows the recent implementation…

UNESCO and Netherlands design AI supervision project for the EU

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The United Nations and the Dutch government announced plans for the creation of a framework for the ethical supervision of artificial intelligence (AI).  On Oct. 5 the Dutch Authority for Digital Infrastructure and the United Nations’ Educational, Scientific and Cultural Organization (UNESCO) officially launched the project called, “Supervising AI by Competent Authorities,” through which they will assemble data on the ways in which European countries supervise AI. The project has financial support via the European Commission’s Technical Support Instrument (TSI) and information collected by the project will result in a…

Retail stablecoin trading in Hong Kong not allowed yet, official says

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As Hong Kong progresses with the adoption of cryptocurrency trading for individual investors, a local official stressed that retail stablecoin trading is not yet allowed. Hong Kong has not adopted regulations for stablecoins like Tether (USDT) or USD Coin (USDC), which means retail investors are not allowed to trade those assets, according to Hong Kong’s Secretary for Financial Services and the Treasury, Christian Hui. The official provided remarks on cryptocurrency regulation in Hong Kong during an online investment committee meeting on Oct. 6, the local news agency Ming Pao reported.…

Trillions In Shiba Inu On The Move: What Lies Ahead

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Large-scale transactions of Shiba Inu tokens have once again captured the attention of the cryptocurrency community. In a recent announcement by the crypto tracker Whale Alert, a substantial amount of SHIB was observed being transferred from the Amsterdam-based cryptocurrency exchange Bitvavo to an undisclosed blockchain address.  The staggering figure of 4,584,530,677,374 SHIB raises intriguing questions about the continued interest of prominent investors in this meme-based cryptocurrency. The transfer, which took place in the early hours of Oct. 5, was meticulously recorded by the Ethereum (ETH) blockchain explorer Etherscan, adding credibility…

OKX exec says KYC will ‘raise the bar,’ bring real capital into crypto: Blockchain Economy Dubai 2023

While some areas of the crypto space focus on privacy and anonymity, others focus on raising the standards within the space and on bringing in traditional players and more capital in the world of digital assets.  At the recent Blockchain Economy Summit held in Dubai, Cointelegraph spoke with Lennix Lai, the global chief commercial officer at crypto exchange OKX. During the interview, the executive discussed several topics, including the differences between working in traditional finance and crypto, how OKX handled the wave of exchanges implementing mandatory Know Your Customer (KYC)…