[ad_1] An Australian federal court today (Friday) ruled that Bit Trade Pty Ltd, which operates the Kraken crypto exchange in the country, violated the design and distribution obligations (DDO) while offering margin trading products to local customers.A Partial Victory for ASICThe ruling came after the Australian Securities and Investment Commission (ASIC) sued the company last September for offering credit facilities with its margin products. However, the court found violations in only one of the two allegations the regulator brought against the company.Kraken offered customers credit for using it to sell and purchase cryptocurrencies, which it calls ‘margin extension’, made and…
Author: dfrancis36
[ad_1] Defunct cryptocurrency exchange Mt. Gox appears to have transferred approximately $75.36 million worth of Bitcoin to Bitstamp crypto exchange in what seems to be a preparatory move for another round of payouts to its creditors, data from on-chain analytics platform Arkham Intelligence shows. Wider Crypto Market Tumbles After Mt. Gox Bitcoin Transfers The Japan-based cryptocurrency trading platform moved 1264.71 BTC – worth $75.36 million – to Bitstamp’s wallet address at 8:49 AM UTC, August 21, 2024. BTC transfer from Mt. Gox to Bitstamp | Source: Arkham Intelligence Subsequently, the crypto market witnessed mixed price action as Bitcoin (BTC) was…
[ad_1] Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an…
[ad_1] In a series of scathing social media posts, Charles Hoskinson, the founder of the Cardano (ADA) blockchain, has sharply criticized the Democratic Party’s stance on the crypto industry, particularly the actions and perceived intentions of Vice President Kamala Harris. Hoskinson’s criticism stems from a perceived lack of clear, tangible support for the crypto ecosystem from the current administration, which he believes has instead pursued a “brutal” crackdown on the industry. The Cardano founder calls for specific policy proposals and explanations from VP Harris regarding the administration’s approach to regulating digital assets. Cardano Founder Skeptical Of Harris’ Crypto Promises In…
[ad_1] In the ongoing legal saga involving key figures of the defunct crypto exchange FTX, Ryan Salame, a former executive at the exchange, has filed a motion to challenge his current plea agreement with US authorities. Prosecutors Alleged Breach Of Agreement As reported by CNBC, Salame, who previously pleaded guilty to charges related to campaign finance and money-transmitting offenses, has petitioned a New York federal judge to invalidate his guilty plea. His defense team contends that prosecutors breached a top aspect of the plea agreement by resuming an investigation into his domestic partner, Michelle Bond, for alleged campaign finance violations despite…
[ad_1] With each month, the Bitcoin performance can vary widely depending on how investors are feeling toward the market. Years of monthly return data available for the cryptocurrency have led to investors and analysts trying to pinpoint the cryptocurrency’s next move based on historical performance. As the month of August draws to a close, Bitcoin investors are already looking toward September in hopes that the new month will come with better tidings. Bitcoin Looks To End August On A Negative Note Despite starting out on a high note, the Bitcoin price saw multiple crashes in August as the month drew…
[ad_1] Crypto analyst Quinten François recently highlighted a cycle indicator that suggests the Bitcoin bull run is just about to begin. The crypto analyst highlighted several fundamentals that paint a bullish picture for BTC heading into this bull run. The Bitcoin Bull Run Could Be Two Months Away In an X (formerly Twitter) post, Quinten reminded the crypto community that the average cycle starts 170 days after the Bitcoin halving. He added that it has been 121 days since the halving event, meaning the bull run could be two months away and possibly begin sometime in October. Source: X In…
[ad_1] The market swung in favor of Stacks (STX) as the token continued its upward momentum. As of writing, CoinGecko notes a solid 18% gain in the past week as it captured the bullish momentum of the market despite the slight dip yesterday. Since then, STX has attracted more investors as it has shown strength despite the volatility. Related Reading As STX goes up, investors and traders weigh in on the on-chain developments that occurred this week. With new add-ons that improve both the security and user experience on the platform, we might see STX move up even more in…
[ad_1] On-chain data shows the OTC desks that Bitcoin miners like to use have seen their balance shoot up, a sign that historically been bearish. Bitcoin Miners Have Been Depositing Big To OTC Desks Recently As pointed out by an analyst in a CryptoQuant Quicktake post, BTC miners have been sending coins to over-the-counter (OTC) desks during the past three months. OTC desks are platforms that facilitate a direct transaction between individuals or institutions. Such selling and buying is more discreet than it is on centralized exchanges, so it can be hard to track who is trading on these platforms.…
[ad_1] The excitement continues to build within the Cardano (ADA) community as the highly anticipated Chang hard fork gets ready to launch. Ahead of the upcoming upgrade, ADA, the native token of the Cardano ecosystem, has exploded by over 52% in this key metric. Cardano Releases Date For Chang Upgrade Intersect, a member-based organization for the Cardano ecosystem, took to X (formerly Twitter) on August 20 to provide comprehensive details and updates on the Chang hard fork. The organization has unveiled key dates for the Chang upgrade launch, highlighting that the majority of preparations are already finalized. Related Reading According to Intersect,…