Former Consensys employee Jack Jia, co-founder of Stable.com, launches new stablecoin USD3 amid regulatory uncertainty and shifting stablecoin narratives.
The post Shiba Inu Dominates Dogecoin In Whale Transactions: What’s Next For SHIB Price? appeared first on Coinpedia Fintech News
Shiba Inu has seen notable price fluctuations, challenging Dogecoin’s dominance. Beginning the year below $0.000010, SHIB surged over 450%, reaching a high of $0.000045 by mid-February. However, it remains 70% under its peak price from 2021. Recently, whale interest in SHIB has soared, even as Dogecoin shows bearish on-chain metrics. Analysts suggest that DOGE investors …
DLC.Link CEO Aki Balogh tells The Agenda how DeFi on Bitcoin will unlock BTC’s potential for collateral, yield farming and more.
Arkbit falsely claimed to operate Arkansas-based data centers for cloud mining various cryptocurrencies.
The ever-evolving world of crypto assets could be poised for substantial growth, as market experts at the cryptocurrency channel Our Crypto Talk are heralding an unprecedented super bullish phase for the industry, driven by a convergence of significant global developments. Key among these is the adoption of cryptocurrency assets in the impending United States Presidential […]
In a bold move that has sent its stock price soaring, medical device company Semler Scientific Inc. has announced that it has allocated a significant portion of its cash reserves to Bitcoin (BTC). According to Bloomberg, the San Jose, California-based firm purchased 581 Bitcoin for a total of $40 million, including fees and expenses. Semler […]
Seven out of ten respondents claim they have invested, and almost one in five (19%) say they hold cryptocurrency
Open Interest refers to the total amount of pending derivative contracts that have not yet been settled. In a futures contract, for every seller, a buyer is required to settle the contract.
Argentina wants to learn from El Salvador’s experience of Bitcoin adoption and other cryptocurrency activities.
The hallowed halls of academia are embracing the digital age, with the Zurich University of Applied Sciences in Business Administration (HWZ) announcing a one-of-its-kind Bitcoin course. Launching in March 2025, this program promises to be the first of its kind in Europe, offering a comprehensive exploration of Bitcoin for business professionals. However, the hefty price […]
According to Dan Romero, as Venmo introduces higher fees, stablecoins could emerge as a potential lifeline for 1099 workers.
Justice Neil Gorsuch emphasized that arbitration is a matter of contract and parties can agree to have an arbitrator resolve threshold arbitrability questions.
In the lead-up to the November elections, cryptocurrencies have become a prominent topic in the race for the White House. Notably, the Biden administration has changed its approach to digital asset regulation, likely influenced by former President Donald Trump’s support for the nascent industry. Biden Administration Calls For Balanced Crypto Regulation In an executive release, […]
VanEck’s ETF is currently designated inactive on the DTCC website, meaning it cannot be processed until it receives the necessary regulatory approvals
Uniswap Labs, the creator of one of the largest decentralized trading platforms, is challenging a potential enforcement action by the US Securities and Exchange Commission (SEC), arguing that crypto tokens should not be classified as securities. The New York-based firm recently refuted the allegation that it operated as an unregistered exchange and broker-dealer. This response follows the SEC’s issuance of a Wells Notice to Uniswap Labs, signaling its intent to recommend legal action against the company. Uniswap Labs Challenges SEC’s Claims In a 40-page filing submitted to the SEC, Uniswap Labs outlined numerous reasons why the agency’s pursuit of legal action should be reconsidered. The SEC’s claims are primarily based on the assumption that all tokens are securities, a premise that Uniswap Labs disputes. Related Reading: Institutional Investors Pour $942 Million Into Bitcoin, Will This Trigger A Rally To $80,000? Marvin Ammori, Chief Legal Officer of Uniswap Labs, emphasized that tokens are merely a file format for value and not inherently securities. He criticized the SEC’s attempt to redefine the terms “exchange,” “broker,” and “investment contract” to encompass Uniswap’s operations. This year, the SEC has taken action against numerous crypto firms through Wells notices, lawsuits, or settlements. The commission’s scrutiny has increasingly focused on Ethereum and decentralized finance players, including Uniswap, ShapeShift, TradeStation, and Consensys. Additionally, reports suggest that the Ethereum Foundation is under investigation. Distinction Between Tokens And Securities Uniswap Labs believes that the SEC’s case against them is flawed. It fails to recognize the distinction between tokens as files for value and tokens as securities. If the SEC proceeds with a lawsuit accusing Uniswap Labs of operating as an unregistered exchange, it risks facing adverse consequences regarding its authority over crypto tokens. Uniswap Labs warned that such litigation could set a precedent undermining the SEC’s ongoing rulemaking efforts. The company expressed its willingness to litigate if necessary and expressed confidence in a favorable outcome, stating: But we’re prepared to fight. Our lawyers are 2-0 in high-profile SEC cases. Andrew Ceresney, a former head of enforcement at the SEC, represented Ripple in their victory over the SEC. Don Verrilli, a former U.S. solicitor general, has argued more than 50 cases before the U.S. Supreme Court and represented Grayscale in its successful case against the SEC. Related Reading: Why Is The Ethereum Price Up 20% Today? SEC Chairman Gary Gensler has consistently maintained that decentralized exchanges are not genuinely decentralized and should fall under the regulator’s purview. Gensler has also argued that many digital assets qualify as unregistered securities subject to SEC regulations. Uniswap Labs, in its response, contended that its governance token, UNI, does not meet the requirements of the Howey Test, a legal framework used to evaluate investment contracts. The company also disputed the SEC’s classification of LP tokens, which are used as securities for liquidity provision in Uniswap pools. Uniswap Labs asserted that LP tokens are accounting tools rather than investment instruments. Uniswap’s native token UNI has seen significant gains of nearly 20% in the last 24 hours alone, as the market rebounded from a two-month consolidation period to trade at $9.34. Featured image from Shutterstock, chart from TradingView.com
In a recent crackdown on illicit transactions involving crypto assets, the US Department of Justice (DOJ) arrested Rui-Siang Lin, a 23-year-old individual from Taiwan. Lin, who also goes by the names Pharoah and Faro, is accused of owning and operating a dark web drug marketplace known as the “Incognito Market.” The platform allegedly facilitated anonymous […]
In a move that has the crypto community buzzing, the US Securities and Exchange Commission (SEC) has asked major exchanges to refine their applications for spot Ethereum ETFs. According to a Reuters report, sources familiar with the process say this request is interpreted as a positive signal that the regulator may be ready to greenlight […]
In a significant departure from their previous skeptical stance, US regulators are reportedly leaning toward approving the long-awaited spot Ethereum ETFs for the second-largest cryptocurrency by market capitalization. SEC Staff Signals Spot Ethereum ETFs Approval According to a report by Barron’s, the US Securities and Exchange Commission (SEC) staff communicated to exchanges on Monday that […]
Many market analysts recently changed their stance after the SEC unexpectedly requested that aspiring Ether exchange-traded fund exchanges update their 19b-4 filings before a deadline this week.
ZachXBT flagged seven wallet addresses with $61 million in Bitcoin connected to the Lazarus hacking group.
Venezuelans, once seeking solace in the digital gold rush, now face a harsh reality. The country, grappling with hyperinflation and economic instability, has banned all crypto mining farms connected to the national grid. This decision, announced by the Venezuelan National Power Ministry, prioritizes the crumbling power grid over the once-booming crypto industry. Related Reading: X […]
The tides are turning in the cryptocurrency world, with institutional investors making a big splash in Bitcoin exchange-traded funds (ETFs) while retail investors seem content to bob on the sidelines. A recent report by IntotheBlock paints a picture of a two-tiered market, where hedge funds and even pensions are accumulating Bitcoin through ETFs, but the […]
The post Top Altcoins To Hit All-Time Highs This Week appeared first on Coinpedia Fintech News
Bitcoin surged near $66,000 on Wednesday, leading the rise in cryptocurrency prices. This increase followed the April CPI report, which indicated a moderation in core inflation and a greater-than-expected cooling in retail sales. As BTC price is now gaining confidence, several altcoins are preparing for a skyrocketing trend this week, potentially challenging their previous ATH. …
The Dogecoin army is barking with excitement after an insider hinted at the long-awaited integration of Dogecoin (DOGE) into X Payments, Elon Musk’s social media platform. However, a closer look reveals a reality check is needed before Doge rockets to the moon. Related Reading: Trump Crypto Boom: Ex-President’s Portfolio Soars 4,000% Amid Re-Election Frenzy Dogecoin […]
Cryptocurrency payment company Ripple has released XRP’s market report for the first quarter of 2024. The report sheds light on XRP’s soaring trading volume. It also highlights updates on the on-chain performance and recent technical developments of the XRPL ecosystem. Related Reading: NFT Market Crashes: 95% Of Assets Become Worthless XRP Spot Volume Surges According […]
Cardano (ADA), the proof-of-stake blockchain network known for its smart contracts, has defied recent predictions of a fall from the top 10 cryptocurrency rankings by market cap. In a surprising move, ADA has instead become the top performer among major coins, experiencing a 7% surge in the last 24 hours. This price action has ignited discussions about ADA’s potential to revisit its 2021 glory days, when it reached a peak of $3.10. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation A Tale Of Two Whales: Retail Accumulation Vs. Profit Taking The recent price increase can be attributed to two key factors: a surge in buying pressure and a potential upcoming “battle of the whales.” On-chain data reveals that retail investors, the so-called “whaley” masses, have been accumulating ADA aggressively, particularly between $0.48 and $0.50. This large cluster of buyers could act as a support system if the price reaches that level. However, lurking beneath the bullish sentiment is a potential obstacle. Data shows that only 40% of current ADA holders are in profit. A price increase to $0.49 could be particularly significant, as it could push the ratio of holders in loss below 55%. This milestone could trigger further buying pressure as more investors see an opportunity to move into profit territory. Whales Return? On Volume And Market Cycle Cardano’s price rally is also being fueled by a significant rise in trading volume, reaching a weekly high of $461 million according to Santiment. This surge in activity indicates growing interest in ADA, which could propel the price further upwards. But can this momentum be sustained? The answer might lie with the “original whales,” the large investors who hold a significant portion of the cryptocurrency. Interestingly, the current distribution of ADA shares some similarities with the market conditions in 2021, when the price hit $3. Back then, whales held roughly 6% of the total supply. Today, that number sits at nearly 7%, suggesting a potential return of these big players. However, analysts caution that the success of this “whale comeback” narrative depends heavily on the broader market cycle. If the current bull market reaches its peak, ADA’s price growth could be restricted, hindering its ability to revisit its all-time high. Can ADA Defy The Odds? Cardano’s recent price surge has instilled a sense of cautious optimism in the cryptocurrency community. While the strong buying pressure from retail investors and the potential return of whales are positive signs, the profitability of current holders and the unpredictable nature of the market cycle pose challenges. Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target In the coming weeks, it will be crucial to observe whether ADA can overcome the selling pressure at $0.49 and sustain its upward trajectory. If trading volume continues to rise alongside the price, and if the current bull market holds, ADA might just surprise everyone and revisit its much-anticipated $3 mark. Featured image from Pexels, chart from TradingView
According to the Financial Times, the Chicago Mercantile Exchange (CME) Group, the world’s largest futures exchange, is reportedly in discussions to introduce spot Bitcoin (BTC) trading. The move aims to tap into the growing demand among Wall Street money managers seeking exposure to the crypto sector. The move marks a significant step for major Wall […]
On the latest episode of The Agenda podcast, MyPrize founder Zach Bruch makes the case for crypto casinos and online gambling as a path toward mass adoption.
Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.
The authorities destroyed two underground operations in Fujian and Hunan, and the police also froze 149 million yuan worth $20 million linked to the USDT banking operations.