Major cryptocurrencies saw declines on Monday following an announcement by bankrupt crypto exchange FTX detailing its holdings as of August 31. Bitcoin fell to lows around $25,000, while Ethereum dropped below $1,560 in trading on Monday. Other major cryptocurrencies like Binance Coin and XRP also saw drops of 3.57% and 5.87% respectively. In response to…
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This measure is intended to counteract the influx of spam and irrelevant proposals submitted for voting within the Terra Classic community. The Terra Classic community is voting on multiple proposals, with concerns raised about an uptick in spam following a decline in Luna Classic (LUNC) prices. A new proposal seeks to raise the minimum deposit…
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The data revealed an increase in the trading volume of AI tokens in August, reaching approximately $870 million, up from $570 million at the close of July. While the debut of Worldcoin (WLD) drew attention to artificial intelligence (AI) tokens, recent trading data from Kaiko indicates that AI tokens have stagnated despite the hype surrounding Worldcoin’s launch.…
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The X account of Ethereum founder Vitalik Buterin has apparently suffered a breach by scammers spreading phishing links. The attack, which manifested itself in the form of a post offering free digital collectibles, has allegedly resulted in the loss of over $690,000 for those who fell for the fraud. Scammers Lure Victims With Phishing Post…
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America’s biggest bank by assets, JPMorgan Chase, is exploring a blockchain-based deposit token for cross-border payments and interbank transfers. If approved by regulators, the banking giant may create the digital asset, which would be different from its existing JPM Coin as it could be used to send money to accounts in other banks. JPMorgan Considers…
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Stuart Alderoty highlighted that Gensler had requested an urgent appeal despite asserting that crypto regulations and rules were clear and must be adhered to by the industry. Stuart Alderoty, Ripple’s chief legal officer and general counsel in the SEC vs. Ripple Labs case, has characterized the United States Securities and Exchange Commission’s (SEC) latest submission…
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Lawmakers with the U.S. Senate Financial Services Committee announced in July they would be accepting suggestions on how to tax crypto until Sept. 8. The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted suggestions for lawmakers to consider in potential legislation on the tax treatment of digital assets. In a Sept. 8 letter…
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Emmer intends to introduce an appropriations amendment that will limit the SEC’s utilization of funds for digital asset enforcement until comprehensive rules and regulations are put in place. Tom Emmer, the Majority Whip of the U.S. House of Representatives, who has previously expressed concerns about the Securities Exchange Commission’s (SEC) actions in the cryptocurrency industry,…
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A standout story in today’s crypto news reports hails from Turkey, where the former CEO of the now-folded Turkish cryptocurrency exchange Thodex has been sentenced to over 11,000 years in jail. Faruk Fatih Özer, who founded Thodex in 2019, received a staggering 11,196-year sentence along with his two siblings and a $5 million fine. In…
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Close to half of asset managers currently have digital assets under management, according to a new study. Firms large and small are implementing crypto strategies for clients and expanding offerings. Asset Managers Embrace Crypto: 48% Now Manage Digital Assets The study by digital currency data provider Amberdata with Coalition Greenwich finds that 48% of institutional…
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