To many observers, this latest “Well’s Notice,” which typically precedes but doesn’t always lead to an official lawsuit, reeks of the SEC “picking winners” in the emergent world of crypto. In a sub-sector dominated by crypto natives, PayPal was the first major fintech to launch a stablecoin, followed shortly after by VISA. Source
First among them is what’s soon be a sizable reduction in supply coming alongside a surge in demand. Bitcoin miners, said Saylor, need to sell bitcoin in order to keep the lights on, and he noted those sales are currently running at about $1 billion per month. The halving – expected to occur in April 2024 – however, means miners will soon have only half of that available to sell. Original
ETF analysts watching the spot-bitcoin ETF race appear to be backing Hashdex’s modified application more than any other. Source
Closing arguments for the criminal trial of Sam Bankman Fried (SBF), the disgraced founder of crypto exchange FTX, have officially concluded with U.S. Southern District of New York Judge Lewis Kaplan moving to jury instructions. As per the indictment from last December, Bankman-Fried faces a total of seven charges, including two counts of wire fraud conspiracy, two counts of wire fraud, one count of conspiracy to commit commodities fraud, one count of conspiracy to commit securities fraud, and one count of conspiracy to defraud the United States and commit campaign…
Shiba Inu whales have been seen moving a large amount of SHIB on-chain once again. These movements come at a time when the price of the meme coin is on the rise, raising concerns about whether these large holders have decided to start selling their large stacks of coins. Shiba Inu Whales Start Moving Coins Over the last few days, whale tracker Whale Alert has reported two large Shiba Inu transactions carrying a massive amount of coins. The first was reported on October 31 where a single transaction was spotted…
Traders on crypto-powered Polymarket have bet a grand total of $4,512 on the question, underscoring the current limitations of prediction markets. Source
Rules for crypto asset promotion that came into force in the United Kingdom on Oct. 8 have led to some confusion, judging from the low level of compliance. The Financial Conduct Authority (FCA) responded with additional guidance for crypto firms to help them fall into line. The FCA released “finalized non-handbook guidance” to compliance with the rules for crypto firms on Nov. 2. It also provided the regulatory agency’s response to industry feedback. FCA director of consumer investments Lucy Castledine said in a statement: “While the new rules for firms…
CryptoX – Cryptocurrency Analysis and News Portal Abu Dhabi Enacts DLT Framework for DAOs, Web3, TradFi Firms Original Source The post Abu Dhabi Enacts DLT Framework for DAOs, Web3, TradFi Firms appeared first on CryptoX. CryptoX Portal
The government presented its rebuttal against Sam Bankman-Fried on Nov. 2 in response to statements made by his defense during the closing arguments a day earlier. A jury of 12 will receive final instructions in the Southern District Court of Manhattan on Nov. 2, with a verdict expected by 8:00 pm local time. The jury will receive pizza and transportation if their verdict comes after court hours, according to District Court Lewis Kaplan. As the trial of @SBF_FTX draws near its conclusion, the prosecution and defense lay down their final…
A verdict in the SBF trial could come before the end of Thursday – on the first anniversary of the CoinDesk scoop that caused his empire to crumble. Source