Recent Posts
Judge Penalizes SEC for ‘Abuse of Power’ in Debt Box Crypto Firm Fallout
A federal judge has penalized the US Securities and Exchange Commission (SEC) for its handling of a complaint against Utah-based cryptocurrency business Debt Box. The lawsuit, which has become a lightning rod for the cryptocurrency sector, reveals the SEC’s aggressive enforcement techniques and raises concerns about the agency’s legal weapons.
Bakkt, a Cryptocurrency Firm, Appoints New CEO Amid Financial Challenges Disclosure
Bakkt, a crypto trading platform, announced on Monday that Andy Main will take over as president and CEO. He will be replacing Gavin Michael, who is departing for new possibilities. Michael will remain an advisor until March 2025 to assist with the transition and provide assistance to the board. Main, who has been on Bakkt’s board since its public debut in 2021, will take over as CEO on March 26.
Bitcoin Encounters Resistance in Attempt to Surpass Critical Levels
Cryptocurrency markets, particularly Bitcoin, have recently become a battlefield. BTC is fighting a relentless effort to break through the important resistance level of $68,800. However, recent action has highlighted dangers below the $65,000 support level. What may be expected of Bitcoin’s price in the next few months?
The Surprising Binance Listing of Book of Meme (BOME)
Binance, one of the leading cryptocurrency exchanges, made an unexpected move by listing Book of Meme (BOME) for spot trading on March 16, 2024, at 12:30 (UTC). This action by Binance is notable due to the rarity of spot listings following futures, which typically take longer to materialize. The sudden listing of BOME led to a significant surge in its value, with the MEMECOIN experiencing a remarkable 243% increase in 24 hours.
Bitcoin Miners Get Ready as the Approaching Halving Event Nears
As the Bitcoin network approaches its halving event, which is predicted around April 20, 2024, miners and cryptocurrency aficionados are buzzing with anticipation. This occurrence, which occurs about every four years, is a critical milestone that cuts miners’ payouts in half. Currently, there are 34 days until this event, and BTC’s price has remained over $60,000, hitting approximately $74,000 on March 14.
Charles Hoskinson Affirms Cardano Hydra’s Progress Despite FUD
Cardano’s creator, Charles Hoskinson, addressed concerns about the development of Hydra. This layer-two scaling solution is designed to improve the Cardano blockchain’s transaction processing capacity. Despite concerns about its discontinuation, Hoskinson stated that Hydra’s development staff remains both productive and motivated.
Arbitrum Price Drops Following Major Release
Arbitrum (ARB), a Layer 2 token, plummeted 14% immediately after more than a billion tokens were released onto the market. According to the website 21milyon.com, ARB traded at $1.9 on March 16. However, prices began to fall sharply following the projected conclusion of the token supply release.
Bianco Defends Vanguard’s Decision Against Spot Bitcoin ETF
Jim Bianco, a well-known financial adviser, recently came up to defend Tim Buckley, CEO of Vanguard, against the barrage of criticism that erupted following Buckley’s remarks on the company’s stance on spot Bitcoin ETFs. The dispute began when Buckley stated that Vanguard would not participate in the spot Bitcoin ETF market, which contrasted dramatically with moves taken by other major asset management firms. This article offers a thorough explanation of the matter, including Bianco’s defence, the industry environment, and the ramifications of Vanguard’s stance.
Nigeria Proposes Rule Requiring Foreign Crypto Exchanges to Incorporate in the Country
The Nigerian Securities Regulator has suggested a regulation mandating virtual asset service providers to register and maintain an office in Nigeria. The agency has also proposed a fivefold increase in the registration cost, which must be submitted with licensing applications from prospective cryptocurrency exchanges.
Prosecutors Seek 40-50 Year Prison Term for Former FTX CEO Sam Bankman-Fried
In a dramatic turn of events, U.S. prosecutors have recommended an unprecedented prison sentence of 40 to 50 years along with an imposing fine exceeding $11 billion for Sam Bankman-Fried, the former CEO of FTX, a now-bankrupt cryptocurrency exchange. The sentencing, slated for March 28, follows Bankman-Fried’s conviction on seven counts of fraud and conspiracy by a jury in November.