President Biden has followed through on a promise to veto SEC-related crypto legislation that recently passed the House and Senate. The bill would have reversed guidance from the SEC that says certain companies should label crypto assets as liabilities on their balance sheet, even if they are simply holding the assets on behalf of customers. …
Monthly archives: June 2024
$30,000 Drained From Wells Fargo Account in Seconds – Bank Refuses To Reimburse, Charges $1,184 in Fees To Hacked Customers: Report
A couple in California says Wells Fargo failed to protect $30,000 that was lost to hackers in a heartbeat. Ron Scott and his wife Jan say criminals recently logged into their Wells Fargo account after managing to hack one of their email passwords, reports CBS 8. The Scotts say the bank should have raised red …
Telegram Gaming Token Notcoin (NOT) Surges Nearly 160% This Week To Reach a New All-Time High
A new altcoin connected to a viral game on the encrypted messaging platform Telegram printed fresh all-time highs this week after surging by nearly 160%. NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin that began trading on May 16th when Binance rolled out support for the asset via its Launchpool …
Only 8 Altcoins Have Broken ATH Against Bitcoin Since FTX’s Collapse – Analyst Weighs In
During this bull cycle, the crypto market has been surfing off Bitcoin’s crest and enjoying the bullish momentum. However, investors hope for a seismic explosion to impulse Altcoins to new highs. Related Reading As the crypto industry awaits, online reports revealed that, since FTX’s fall, only eight altcoins have hit a new all-time high (ATH) …
UNI Price Slides 8% As Uniswap Delays Crucial Voting Proposal
In a blow to the momentum of the Uniswap native token, UNI, the decentralized exchange (DEX) has been forced to postpone a highly anticipated proposal that would have improved its token governance and fee distribution model. Meanwhile, the company is also locked in a legal battle with the US Securities and Exchange Commission (SEC) over …
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Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low
Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as $7.5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever. …
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Bitcoin ‘Realized Volatility’ Showing Very Rare Trend: What Could Be Next
Data shows that the Bitcoin Realized Volatility metric has fallen to historically low levels. What generally happens after this pattern forms? Bitcoin Realized Volatility Has Decline To Extreme Lows Recently In a post on X, CryptoQuant author Axel Adler Jr has discussed about the latest trend taking place in the Realized Volatility of Bitcoin. The …
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Bitcoin vs. Gold: Why This Trader Believes BTC Will Surge By More Than 300%
Seasoned trader Peter Brandt’s recent prediction has captured significant attention. Brandt, known for his crypto market insights, has forecasted a substantial rise in Bitcoin’s value compared to gold, suggesting an impending shift in investors’ asset preferences. Bitcoin vs. Gold: A Shift In Value Peter Brandt, particularly, projected an eye-opening scenario where Bitcoin could dramatically outpace …
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Ex-Investment Banker and Registered Broker Busted in $1,500,000 Crypto Fraud Scheme: DOJ
A former investment banker and registered broker has been sentenced for masterminding a $1.5 million crypto fraud scheme. In a new press release, the US Department of Justice (DOJ) says that Rashawn Russell, who used to work for the Financial Industry Regulatory Authority (FINRA), has been sentenced to three years and five months behind bars. …
US President Joe Biden vetoes SAB 121 repeal
United States President Joe Biden said he vetoed the resolution because “he will not support measures that jeopardize the well-being of consumers and investors.”
Lawmakers urge Biden administration to reconsider veto for SAB 121 repeal
A bipartisan coalition of lawmakers has urged the Biden Administration to abandon its plan to veto the Congressional proposal to repeal the SEC’s controversial Staff Accounting Bulletin No. 121 (SAB 121). The letter, dated May 30, called on the administration to urge the SEC to rescind the standard or sign the Congressional proposal to repeal …
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Congress to discuss potential benefits of RWA tokenization in June hearing
The House Financial Services Digital Assets Subcommittee will hold a hearing on real-world asset (RWA) tokenization on June 5 to discuss the emerging sector’s potential benefits. Congress will listen to testimony from industry experts at the hearing to determine the potential benefits of RWA tokenization in facilitating efficient markets. The US government’s decision to address …
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Coinbase slams SEC in closing brief over refusal to provide clear regulation
Coinbase filed a closing brief with the US Court of Appeals for the Third Circuit on May 31, challenging the SEC’s denial of its rulemaking petition. The case revolves around a single, conclusory sentence in the SEC’s order, which “disagreed” with Coinbase’s assertion that current SEC rules are unworkable for digital asset firms. The exchange …
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Over 90% of Bitcoin supply remains profitable despite market volatility
Onchain Highlights DEFINITION: The percentage of entities in the network that are currently in profit is based on the amount of Bitcoin bought cheaper than the current price. The “Buy price” is defined as the price at which coins were transferred to addresses controlled by the entity. Bitcoin’s current market trends show a nuanced interaction …
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Crypto Re-Staking Platform Attracts $18.8 Billion
The rising trend of “re-staking” has driven significant cryptocurrency investments into platforms that reward users for locking up their tokens. Leading this movement is Seattle-based startup Eigenlayer, which secured $100 million in funding from Andreessen Horowitz’s crypto arm in February. Eigenlayer has attracted $18.8 billion worth of crypto to its platform from less than $400 …
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