Day: December 22, 2023

SEC Chair Gary Gensler Warns of ‘Far Too Many Frauds and Bankruptcies’ in Crypto Industry

Gensler disclosed that the SEC is actively reviewing rules that could potentially hurt the crypto industry. In a recent interview with CoinDesk, Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), voiced his concerns regarding the crypto industry, noting that the space is rife with fraud and bankruptcies. The SEC chair said while he respects investors’ decision to explore the crypto market, he does not believe they receive adequate disclosures regarding the projects they invest in. Gary Gensler Shares Deep Concern Regarding Crypto Gensler also questioned the…

Polygon Breaks Through $0.85, Is A Move To New Highs Next?

boss

Polygon has seen some sharp uptrend during the past day and has now broken above $0.85. Here’s why this break could pave the way for a further rally. Polygon Has Risen By More Than 6% During The Past 24 Hours After topping above the $0.94 mark earlier in the month, MATIC had gone on to register some significant drawdowns. In the last few days, though, the asset appears to have hit a bottom around the $0.75 level, as it hasn’t gone below the mark yet. Something that could add further…

SEC met multiple spot Bitcoin ETF applicants on Dec. 21

boss

Several potential issuers met with the SEC to discuss their spot Bitcoin ETFs, adding to hopes that harmonized approvals may be on the horizon.  The United States Securities and Exchange (SEC) held calls with spot Bitcoin ETF filers, including BlackRock, Valkyrie, ARK 21Shares, Franklin Templeton, Fidelity, VanEck, and Grayscale on Dec. 21 regarding their respective bids for investment vehicles that would hold crypto’s largest token. According to documents on the Commission’s website, issuers reportedly spoke with staff from the SEC’s divisions of corporation finance, trading, and market. Fox Business initially…

Crypto Users May Hit 1B in 2024, Bitfinex Analysts Claim

According to analysts at Bitfinex, crypto is undoubtedly gaining more traction globally. Moreover, considering the current state of the crypto market, especially with asset prices, it appears that even more global acceptance is on the way for crypto. Bitfinex analysts have made a bold prediction about the number of users that we might expect to see in the crypto industry come 2024. Their prediction, which was detailed in a recent report suggests that the number of crypto users may be headed to around one billion in the coming year. However,…

Here Are The Hottest Altcoins To Buy As The Bull Market Returns

boss

As the bull market returns, market intelligence platform Santiment has provided some insights into altcoins that one should keep an eye on. This comes as other altcoins like Solana (SOL) and Cardano (ADA) are already leading the way on the back of a significant rally from both tokens. Four Altcoins To Keep An Eye On In a post on their X (formerly Twitter) platform, Santiment highlighted ETH, SHIB, FET, and DENT as four altcoins to keep an eye on. These four crypto tokens are said to be seeing their top…

Tellor jumps up 25% amid market manipulation allegations

According to one crypto analyst, Tellor has seen dramatic price fluctuations recently, including a huge rally and subsequent crashes due to market manipulation. The cryptocurrency Tellor (TRB) saw its price shoot up over 25% in the last 24 hours, reaching $169.71 as of press time. Tellor is the native token of the Tellor decentralized oracle protocol, which supplies external data to blockchain networks. 24-hour TRB price chart | Source: CoinMarketCap Oracles like Tellor are critical infrastructure in the blockchain ecosystem, enabling smart contracts to access real-world data like price feeds.…

Hong Kong Ready to Accept Proposals for Crypto Spot ETFs

Regarding custody arrangements, the SFC emphasizes that the fund’s trustee or custodian can delegate its crypto custody function solely to an SFC-licensed VATP or entities meeting the crypto custody standards set forth by the HKMA. Hong Kong has announced its readiness to receive applications from traditional financial companies interested in exploring the emerging economy by creating exchange-traded funds (ETFs) tracking spot-based cryptocurrencies. The country already allows futures-based crypto ETFs and has approved listing ETFs such as the Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures. The crypto-friendly…

Stacks Hits 8-Month High, But It Unveiled A Twist

boss

In contrast to the majority of cryptocurrencies, which began the week on a downward trajectory, Stacks (STX) deviated from the prevailing trend and registered gains. Stacks Network’s native token, STX, had a strong 600% increase in 2023. Stacks is a noteworthy 2019 SEC-qualified token that functions as a layer-2 Bitcoin protocol for smart contracts. Stacks Surges: Social Buzz And Growth Stacks has been the talk of the cryptocurrency community lately, receiving a lot of attention on social media. The altcoin’s market value has experienced a notable upswing, having reached a…

Solana Cancels Some Orders for Saga Phones Due to Inventory Management Issue

Following a spike in demand, Solana has canceled some orders of Saga mobile phones due to shortages. Demand rose due to the free 30 million BONK tokens that come with the phone. Solana Labs might have already had a win on its hands with its blockchain and native token which have become some of the biggest in the industry. But the company decided last year to enter the mobile phone business by releasing the Solana Saga, an Android phone that came with Solana apps pre-installed and many other features that…