Day: October 23, 2023

Coinbase Poised to Make Final Court Pitch in Bid to Kill SEC Accusations Quickly

In Coinbase’s last word on its motion to get the accusations tossed before trial, a person familiar with the plan said the company will double down on familiar arguments: The SEC hasn’t demonstrated the transactions were investments contracts (and thus, securities), because it hasn’t shown any actual contracts existed, and the SEC is violating the “major questions doctrine” that basically holds that federal agencies have no business regulating novel areas that are awaiting congressional action. Source

Chevron Announces $53B Acquisition Deal with Oil Producer Hess 

After the transaction is finalized, Chevron plans to escalate share repurchases by $2.5 billion, reaching the upper limit of its annual guidance range of $20 billion.  Chevron Corporation, one of the leading global energy companies, has today announced its agreement to acquire an American oil production firm Hess for $53 billion. The deal is part of a strategic move by the company to strengthen and diversify its already robust portfolio. According to an official announcement on Monday, the company will acquire all outstanding shares of  Hess in an in-stock transaction…

SEC Has Just 3% Chance against Ripple if They Appeal XRP Case

Morgan asserts that XRP sales fail to meet at least two of Howey test prongs, making the SEC’s case weak. With the facts apparently not aligning with the Howey framework, he sees little room for the SEC to overturn the earlier judgment. In the ongoing Ripple versus SEC case over XRP, legal experts are assessing the chances of a successful SEC appeal after Judge Analisa Torres granted Ripple a partial win in July. The judge ruled that XRP sales on public exchanges were not unregistered securities deals. Jeremy Hogan, a…

Bitget releases MPC wallet, includes 2/3 private key sharding

boss

Cryptocurrency exchange and derivatives platform Bitget has launched a new wallet service using multiparty computation (MPC) to improve security and key management for users. After launching its account abstraction wallet service powered by Ethereum scaling protocol Starknet in July 2023, Bitget has employed MPC to overhaul private key and asset management. MPC technology uses a distributed key generation mechanism that distributes multiple key shares to different locations controlled by multiple parties. This enables a process that requires the owners of distributed private key shares to sign and authorize the transaction.…

Japan’s Nikkei Closes Below 31,000 amid Middle East Turmoil

One of the most striking aspects of this market turmoil was the sharp increase in the Nikkei volatility index, which surged to 23.87, a level not seen in a long while. Japan’s Nikkei 225 (INDEXNIKKEI: NI225) share average faced a tumultuous day as it closed below the psychologically significant 31,000 level earlier today, primarily due to escalating events in the Middle East. This geopolitical unease sent a key volatility gauge spiking to a one-year high. Nikkei 225 Performance Breakdown According to reports, the Nikkei fell by 0.83% and ended the…

Hyperinflation fuels Bitcoin’s rise in Turkey and Lebanon, experts say

boss

At the Plan B Forum in Switzerland, Rikki and David from the Bitcoin Explorers Project shared their observations on cryptocurrency adoption in Turkey and Lebanon, countries currently grappling with severe inflation. Crypto in Turkey Rikki described the rampant inflation plaguing Turkey, with prices rising 60% annually, according to official statistics, and possibly more unofficially. He recounted seeing locals lining up to exchange Turkish lira for US dollars and gold to preserve their purchasing power. Rikki also showed images of Bitcoin ATMs and shops accepting cryptocurrency in Istanbul, evidence of growing…

Blockchain companies are creating AI chatbots to help developers

The artificial intelligence (AI) market is becoming one of the fastest-growing industries in the world. According to market research firm Next Move Strategy Consulting, the current AI market is valued at nearly $100 billion and is projected to grow exponentially.  Given this, it comes as no surprise that chatbots using AI are also on the rise. Recent findings from Precedence Research show that the global chatbot market size reached $840 million in 2022. AI chatbots for Web3 developers in the works As opportunities around AI and chatbots flourish within various…

10-Year US Treasury Yields Surge Past 5% Again, Dow Futures Crash 200 Points

Rise in the US Treasury Yields put pressure on the market resulting into bearish weekly start on Wall Street. Yields surge past 5% with Fed planning for higher-than-longer interest rates. Macro pressure continues to hover over Wall Street as the 10-year US Treasury yields surged higher even today on Monday, October 23. The treasury yields continue to hover at multi-year highs as investors prepare for higher-for-longer interest rates from the Federal Reserve. Around 5:54 a.m. ET, the yield on the 10-year Treasury note, considered the benchmark, increased by 9 basis…

Analyst Predicts Bullish Bitcoin Price Rally To $41,000, Here’s When

boss

The Bitcoin price went over $30,000 over the weekend to reach its highest point since mid-July. As part of this recent rally, crypto trader Carl From The Moon has shared his Bitcoin analysis, predicting the cryptocurrency is poised for a massive 37% rally that could send the price up to $41,000. Analyst Carl From The Moon Predicts Bitcoin Price Rally Bitcoin has been subject to many price predictions in recent months, particularly as the industry awaits the approval of applications for a spot Bitcoin ETF. Subsequently, Carl Runefelt, also known…