Author: dfrancis36

[ad_1] The US Commodity Futures Trading Commission charged decentralised exchange (DEX) developer Uniswap Labs with offering illegal leveraged and margined commodities transactions. The two parties simultaneously settled the charges with a payment of $175,000. Meanwhile, CFTC’s Commissioner, Caroline Pham, dissented the order, pointing out that the existing rules does not specify characteristics of “leveraged tokens” and expressed a concern over the regulator “ever-expanding jurisdictional overreach.”Leveraged Tokens Are Illegal on Unregistered PlatformsAccording to Wednesday’s announcement, the regulatory action also includes a cease-and-desist order to prevent Uniswap from further violating the Commodity Exchange Act.The regulator highlighted that Uniswap developed a protocol and…

[ad_1] In a single day, $1.05 trillion was wiped out of the US stock market. This decline represents one of the largest of any single day in recent times and also reflects a mix of unsatisfactory economic data and huge struggles among major companies. Investors are understandably rattled because this downturn brings up some seriously unsettling questions about the stability of this market. Stock Market: Economic Data Drives The Decline The Dow Jones Industrial Average plummeted more than 626 points right off the bat within the first seconds of the opening. At close, it shed more than 700 points and…

[ad_1] Este artículo también está disponible en español. Ethereum is down nearly 35% from July highs and roughly 40% from 2024 peaks. While there is hope among holders that the coin will expand, breaking local resistance, the short-term trend favors sellers. From the daily chart, not only is ETH struggling to gain momentum and push above $2,800, but sellers have been relentless, diffusing any attempt higher. As the coin is capped below $2,500 at press time and actively aligning with the selling pressure of late August, Santiment analysts have picked out an interesting development. Ethereum Register More Users Than Bitcoin…

[ad_1] Bitcoin investors appear to be demonstrating a cautious approach as evidenced by the recent notable decline in the number of BTC active addresses, which indicates a reduction in on-chain activity as the market continues to be unstable. Bitcoin Sees Decrease In Active Addresses Kyle Doops, a market expert and host of the Crypto Banter show, shared the development in a recent post on the X (formerly Twitter) platform. The decline in active addresses implies a decrease in transaction volume, which could mean investors are choosing to wait and see how Bitcoin will react, given the state of the market.…

[ad_1] Este artículo también está disponible en español. A strong outlier in the current market situation, Monero (XMR) moves against the broader downturn that plagues the market. According to CoinGecko, Monero gained nearly 13% since last week, putting the coin under the spotlight as one of the strongest gainers within the bear market.  Related Reading Monero’s simplicity lends itself to its focus on privacy and reliability, providing great value for both investors and users of the platform. This led to Monero’s semi-autonomous price movement which might continue despite the market’s bearish nature.  Monero Utilization Jumps On CoinCards CoinCards, a gift…

[ad_1] Dogecoin (DOGE), the largest meme-based cryptocurrency by market capitalization, has recently formed a second low, suggesting that the meme coin could be gearing up for a potential 4,000% rally to new all-time highs above $4.  Dogecoin Second Low Could Signal Big Gains Ahead Trader Tardigrade, a crypto analyst, told his 55,100 followers on X (formerly Twitter) that Dogecoin has officially formed a second low after touching a crucial support level. He shared a price chart illustrating Dogecoin’s price movements since 2014, highlighting periods where the meme coin had formed a first and second low after hitting a key support…

[ad_1] Este artículo también está disponible en español. Bitcoin price started a recovery wave from the $55,600 zone. BTC is now struggling to clear the $58,500 resistance and might decline again. Bitcoin is struggling to recover above the $58,500 zone. The price is trading below $58,200 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $57,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle to recover above the $58,500 or $58,750 resistance levels in the near term. Bitcoin Price Faces Hurdles Bitcoin price…

[ad_1] Bitcoin (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.  Recent data from Santiment highlights a notable shift: Bitcoin is becoming progressively less sensitive to fluctuations in equities. This suggests that while both markets grapple with volatility, their interactions may not be as intertwined.  As we move forward, price action might be influenced more by its market dynamics rather than broader stock market trends. This shift could mean that, despite ongoing volatility, the fundamental…

[ad_1] As Bitcoin gains traction within the Republican Party, notably championed by former President Donald Trump, lawmakers are increasingly positioning the cryptocurrency as a cornerstone for US economic growth.  US Senator Cynthia Lummis is at the forefront of this movement, advocating for the Bitcoin Act, which aims to establish a strategic Bitcoin reserve for the United States. A Bold Solution For Fiscal Crisis In a recent interview with Bankless, Lummis articulated her vision for the Bitcoin Act, highlighting its potential to address the nation’s staggering $35 trillion debt, which she argues has no viable solutions under current fiscal policies. Lummis…

[ad_1] Paul Grewal, Coinbase’ Chief Legal Officer, is still confident about a pro-crypto Congress in the United States after the 2024 elections. During an interview recently, Grewal spoke to the way bipartisan support for legislation of digital assets may be achieved in comparison to the skeptical approach by the US Securities and Exchange Commission under Gary Gensler. Grewal said the bipartisan bill FIT 21 is a founding block for clear regulations and investor protection, and this should ultimately mean the crypto landscape focuses more on legislation rather than litigation. He also named European regulations as perhaps setting a model for…