[ad_1] The US Securities and Exchange Commission (SEC) has signaled it will not appeal Wednesday’s ruling by Judge Torres in the legal battle with Ripple. The case concluded on August 7 with the company facing a civil penalty significantly less than the SEC originally demanded. Judge Torres’s decision mandated a $125 million civil penalty for securities violations related to sales to institutions, along with a disgorgement of $0. This is a stark contrast to the approximately $2 billion in damages initially sought by the SEC. Additionally, an injunction was imposed to prevent further violations of Section 5 of the Securities…
Author: dfrancis36
[ad_1] Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of…
[ad_1] Russian President Vladimir Putin has signed a law on Thursday, officially giving legal status for crypto mining in the country. This historic law not only brings Russia into the global crypto economy but also sets in motion a legislative blueprint to prevent illegal activity, so ensuring the nation stays both a player and a watchdog in the digital financial scene. New Regulations For Crypto Miners According to multiple news outlets, the new legislation, set to go into effect this November, gives registered legal firms and individual entrepreneurs exclusive rights to mine cryptocurrencies in an attempt to balance innovation and…
[ad_1] Injective starts the day with a bang as INJ, the platform’s native token gained over 12% in the past 24 hours. This can be attributed to the market’s surprising rally, complemented by a market cap that is up by over 6% after its dip earlier this week. Related Reading The rally is also due to Injective’s recent achievements that spur some buzz within and outside their community. Investors might find some value on INJ as it continues to grow and innovate. Utila Announces Support For Injective Ecosystem Today, the institutional wallet and blockchain infrastructure-focused Utila announced its support for…
[ad_1] On Thursday, Indian crypto exchange WazirX announced its plan to compensate customers after the multi-million exploit it suffered last month. The exchange revealed it decided to restore the balances of all customers and undo all trades carried out before July 18 and July 21. WazirX To Restore All Account Balances On July 18, WazirX fell victim to a security breach that took approximately $235 million from one of the trading platforms’ multisig wallets. The crypto heist stole millions of ETH, SHIB, PEPE, MATIC, and other tokens, leaving thousands of users empty-handed. As a result, the platform halted operations and…
[ad_1] Seasoned trader Peter Brandt is warning there’s a 50% chance that Bitcoin (BTC) plummets below $40,000 this cycle. Brandt tells his 734,000 followers on the social media platform X that Bitcoin could possibly plummet more than 35% from its current value before the end of next year. “I believe there is a 50% chance BTC visits sub-$40,000 before the last half of the halving plays itself out.” Source: Peter Brandt/X Brandt also suggests that Bitcoin’s price action this year may be forming an inverted right angled broadening triangle, similar to Bitcoin’s black swan event in 2020 at the start…
[ad_1] The Bitcoin price records a major rally in recent days. After plummeting to a low of $49,000 on Monday, the BTC price soared as high as $62,700 during the Asian trading session today. Thus, BTC has surged 24% from its Monday low. Over the last 24 hours alone, BTC has risen by 7%. These are the key reasons: #1 Fading US Recession Fears Fuel Bitcoin Rally Macro economics are the clear driver of the price move as equities have rallied along with Bitcoin. Notably, the July unemployment rate in the United States increased to 4.3%, the highest in the…
[ad_1] Bitcoin spot ETFs recorded their largest inflows in over two weeks on Thursday, totalling $192.5 million. This comes after Bitcoin dipped below $50,000 earlier this week amid a global market selloff.NEW: 🇺🇸 #Bitcoin ETFs saw $192 million in inflows, the highest in over two weeks.The tides are turning 🚀 pic.twitter.com/y7Ra6NK4jA— Bitcoin Magazine (@BitcoinMagazine) August 9, 2024 The inflows helped propel Bitcoin back above $60,000 on Friday. It represents a swift reversal after Bitcoin plunged nearly 20% to its lowest level since February.The BlackRock iShares Bitcoin Trust (IBIT) led the bounce back, with inflows of $157.6 million on Thursday. The…
[ad_1] Despite the fears that the downtrend will continue, the crypto market resumes its bullish drive upward with the altcoin market showing the most significant gains. SUI is one of those tokens, gaining almost 31% in the past 24 hours as major cryptocurrencies like Bitcoin and Ethereum returned to pre-correction levels. Related Reading As the market continues to rally, SUI might continue to capture the broader momentum, keeping the bears at bay. This comes after institutional interest hit the Sui platform, which will also help drive the price upward. SUI up in the last 24 hours. Source: Coingecko Grayscale Releases…
[ad_1] Data shows the recent crash hasn’t shaken the long-term holders of Bitcoin, as they have only increased their supply further. Bitcoin Long-Term Holder Net Position Change Has Been Positive Recently As explained by analyst Ali Martinez in a new post on X, the supply held by the BTC long-term holders has increased during the latest downturn in the cryptocurrency. The “long-term holders” (LTHs) here refer to the Bitcoin investors who have held onto their coins for more than 155 days. This group is one of the two main divisions of the BTC market based on holding time, with the…