Day: October 12, 2023

Trezor Marks 10th Anniversary with New Products Launch

As part of its celebration, the Czech-based firm has launched three new self-custody products. Hardware crypto wallet provider Trezor is in the mood for celebration after reaching the milestone of being in business for ten years. As part of its celebration, the Czech-based firm has launched three new self-custody products. The new Trezor products are a new wallet, a proprietary private key backup solution, and a Bitcoin BTC-only wallet. Trezor Unveils 3 New Products In its official announcement dated October 12, Trezor disclosed that the new wallet, dubbed  Trezor Safe…

Circle admitted by judge as amicus curiae in SEC vs Binance lawsuit: Report

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A senior judge in the Columbian district court has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the United States Securities and Exchange Commission against the crypto exchange Binance ahead of the crucial hearing. Among the key orders, the judge cleared an amicus brief filed by USD Coin (USDC) stablecoin issuer Circle right before the key hearing on Oct. 12. Circle filed a court motion on Sept. 29 in the ongoing SEC vs Binance lawsuit and had argued that assets pegged to the U.S.…

Microsoft to Appeal IRS’s $29B Back Taxes Claim

If the appeal process, which could take years, does not result in a unanimous agreement, the corporation would have to settle any unresolved issues in court. The United States Internal Revenue Service (IRS) has informed Microsoft Corp (NASDAQ: MSFT) that it owes back taxes of  $28.9 billion “plus penalties and interest” for the tax years 2004 through 2013. In an 8-K filing on Wednesday, the corporation revealed that it had received Notices of Proposed Adjustment (NOPAs) from the IRS. Microsoft counters that up to $10 billion in taxes that it…

BarnBridge DAO votes to adhere to SEC ruling

BarnBridge DAO, which runs a small DeFi protocol, has concluded its voting process on addressing potential demands from the U.S. Securities Exchange Commission (SEC). The vote, which ended on Oct. 12, resulted in a unanimous decision to comply with any forthcoming SEC requirements and to pay fines if necessary. Tyler Ward and Troy Murray have been appointed as special delegates to liaise with the SEC on behalf of the DAO. Douglas Park will continue to serve as the DAO’s legal counsel and is authorized to sign the final version of…

BlackRock Seeks Court-Approved Crackdown on Potentially Fraudulent Copycat Sites

According to the filing, “over 95% of the 500 most popular sites on the Internet are the subject of typosquatting”. The New York-based investment giant BlackRock Inc has called for a crackdown on dozens of domain names that have been registered to imitate the investment firm as they could potentially be used to defraud investors. Blackrock is seeking a court-ordered strike on the domains and  “typosquatting” sites, some of which are crypto-related. According to an October 10 legal complaint filed in the United States District Court for the Eastern District…

Bitcoin signals historic bottom, analyst says

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CryptosRUs, a popular cryptocurrency YouTuber with over 666,000 subscribers, believes several technical and fundamental indicators suggest the bottom is near for Bitcoin. In a livestream video on Oct. 11, CryptosRUs analyzed the latest crypto market trends and pointed out signs that Bitcoin is oversold and due for a rally. One of the key indicators CryptosRUs highlighted is the Relative Strength Index (RSI), a technical analysis tool that measures whether an asset is overbought or oversold. The RSI for Bitcoin recently hit low levels, indicating the cryptocurrency is oversold. “This is…

Russia’s stock exchange ready to list Bitcoin under one condition

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Russia’s second-largest bourse is ready to be the first in the country to add support for cryptocurrencies. Saint Petersburg Stock Exchange (SPB Exchange) will list a whole set of cryptocurrencies, including Bitcoin (BTC), once the government legalizes the industry, local news agency TASS reports, citing the exchange’s head Roman Goryunov. Although the time frame was not specified, Goryunov said one day, the world of crypto will merge with the world of traditional financial instruments. He also emphasized the exchange will be the first trading platform to trade crypto in Russia…

ARK Invest and 21Shares refine Bitcoin ETF filing, hint at progress

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ARK Invest and 21Shares have amended their filing for a bitcoin exchange-traded fund (ETF). Experts consider it a sign of working jointly with the U.S. SEC. The amendment, filed on Oct. 11, provides more details on the proposed ETF, including its name, ticker symbol, fee structure, and custodian. The document now has five pages added — allegedly, following the the Securities and Exchange Commission (SEC) comments. ETF analyst at Bloomberg Erich Balchunas calls the amendment of the ETF a sign of good progress. There’s 5 extra pages in new S-1…

China’s Central Huijin Investment Bolsters Stake in Top 4 Banks to Stabilize Stock Market amid Economic Challenges

This strategic investment, totaling around $65 million, translates to approximately 0.01 percentage point in each bank. The impact on the market was immediate and substantial, with shares of these major banks soaring between 2.43% and 4.73% in the early hours of Thursday. China’s sovereign wealth fund, Central Huijin Investment Ltd, has taken a significant step to bolster the country’s struggling stock market. In a move similar to its 2015 intervention, Huijin has increased its stake in China’s top four banks, namely the Bank of China, the Agricultural Bank of China,…

Buy LINK? Chainlink Touted As ‘Safest Bet’ For This Mega Trend

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Real-world assets (RWAs) are emerging as one of the next mega trends in the crypto space, and according to a recent study by K33 Research, Chainlink could profit in a big way from this trend. In a recent study, the research firm projected that LINK would be the “safest bet” to capitalize on this impending boom. This sentiment reflects the broader industry outlook, especially given BlackRock CEO Larry Fink’s earlier comments in May where he noted the potential of tokenization in securities. “The next generation for markets, the next generation…