Day: December 1, 2023

KyberSwap hacker wants control, law firm says Aussie DeFi tax rules ‘non-binding’: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The hacker who stole over $46 million from the DeFi protocol KyberSwap has released a list of demands, including total control over the Kyber company and all its assets. The hacker specified a deadline for the Kyber team to fulfill the demands. A law firm in Australia described the DeFi tax guidance released by the country’s finance regulator as “toilet paper.” Cadena…

U.S. Securities and Exchange Commission (SEC) Seeks Public’s Thoughts on Fidelity’s Potential Spot Ethereum ETF

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The U.S. Securities and Exchange Commission (SEC) is asking the public what they think about financial services giant Fidelity’s potential spot market Ethereum (ETH) exchange-traded fund (ETF). In a new notice, the regulatory agency is asking the public for their opinion on Fidelity filing a bid to create an Ethereum-based ETF on the Chicago Board Options Exchange (CBOE). “Given that on November 17, 2023, Cboe BZX Exchange, Inc. filed with the Securities and Exchange Commission (SEC) the proposed rule change as described in Items I, II, and III below, which…

Terraform Labs and SEC lawyers spar over whistleblower in court: Report

Lawyers representing the United States Securities and Exchange Commission and Terraform Labs and co-founder Do Kwon sparred in court over information provided by a whistleblower in the securities lawsuit. According to a transcript of court events provided by Inner City Press on Nov. 30, the SEC reiterated its claims that Terra and Kwon “committed fraud” using the LUNA token, citing sealed evidence provided by an unnamed whistleblower. Kwon’s and Terra’s legal team reportedly argued the SEC was “flip-flopping” on the issue of TerraUSD (UST) depegging from the U.S. dollar. “The…

Dogecoin Marks Two Consecutive Green Monthly Closes, What Happened The Last Time?

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Dogecoin has just completed another month in the green despite the various dips and turns that it took in November. This green monthly close marks its second consecutive green monthly after finishing out October in the green as well. With this trend now complete, let’s take a look at Dogecoin’s historical performance when it has notched two consecutive green monthly closes. Two Green Dogecoin Monthly Closes The two consecutive green monthly closes for Dogecoin are significant due to how the price has performed when this has happened in the past.…

Elon Musk says “digital god” will make AI copyright lawsuits irrelevant

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Elon Musk made some of his boldest claims yet concerning the future of artificial intelligence (AI) during an interview with CNBC’s Andrew Ross Sorkin. During a wide-ranging interview, Musk responded to questions concerning recent lawsuits levied against some of the billionaire’s competitors in the AI space related to alleged copyright infringement. Related: Elon Musk launches AI chatbot ‘Grok,’ says it can outperform ChatGPT “So, you think it’s a lie,” Sorkin asked Musk during the interview, “when OpenAI says that… none of these guys say that they’re training on copyrighted data.”…

Cristiano Ronaldo Faces $1B Class Action Lawsuit Over Binance Endorsement

“Mr. Ronaldo’s promotions were published on public websites, television and social media accounts accessible to plaintiffs nationwide, including in Florida,” the suit reads. “On information and belief, in exchange for his services, Mr. Ronaldo received a substantial total compensation package which likely included compensation in the form of digital assets transmitted through the Binance platforms.” Source

TMNG Tokens Successfully Listed on MEXC Crypto Exchange

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December 1, 2023 – Zug, Switzerland TMN Global proudly announces the successful listing of its native TMNG token on the MEXC crypto exchange, effective December 1, 2023. This strategic partnership marks a significant milestone for TMN Global in the crypto space. EREA World AG partnered with Europäische Metallhandels (EMH) AG to develop a cryptocurrency called ‘TMNG,’ which stands for ‘Technology Metal Network Global.’ EMH AG is the market leader for commodities trading in Europe. TMN Global is a platform which combines traditional investing in technology metals, rare earth metals and…

Cardano (ADA) Retests Major Resistance Wall, Will Break Happen?

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On-chain data shows Cardano is currently retesting a major resistance wall, breaking through which might pave the way to higher price levels. Cardano Is Facing On-Chain Resistance At Current Price Levels According to data from the market intelligence platform IntoTheBlock, there appears to be key on-chain resistance around the $0.38 mark. In on-chain analysis, levels are judged to be “resistance” or “support” based on whether they host the cost basis of a significant number of investors or not. The cost basis here naturally refers to the price at which a…

Bitcoin price hits $39K as Powell stirs bets Fed rate hikes are over

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Bitcoin (BTC) hit $39,000 for the first time since mid-2022 on Dec. 1 as the United States Federal Reserve boosted hopes of policy easing. BTC/USD 1-hour chart. Source: TradingView Powell: Calling end to hikes would be “premature” Data from Cointelegraph Markets Pro and TradingView confirmed a new 19-month BTC price high of $39,000 on Bitstamp. Bitcoin bulls, already in a strong position, beat out resistance as Fed Chair Jerome Powell took to the stage at Spelman College in Atlanta, Georgia for a scheduled appearance. “The FOMC is strongly committed to…