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Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid SEC Lawsuit Over XRP

July 30, 2022

Ripple’s general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined. Ripple’s Counsel Calls for ‘Sensible’ Crypto Regulation Stuart…
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Nigerian Currency Plunges to New All Time Low — Central Bank Blames Speculators

July 30, 2022

The Nigerian central bank has accused currency speculators of being behind the local currency’s recent plunge to a new all-time low of N710 against the greenback. The leader of a Nigerian association of bureau de change operators insisted crypto trading may be to blame for the naira’s recent plunge in value. Nigerians Converting to USD…
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Bitcoin price rejects at $24K as ‘classic short setup’ spoils bulls’ fun

July 30, 2022

$24,000 BTC price refuses to flip to support while the weekly close remains shrouded in uncertainty. Bitcoin (BTC) saw fresh volatility after July’s final Wall Street open as highs north of $24,000 remained solid resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Resistance strikes BTC at $24,000 Data from Cointelegraph Markets Pro and TradingView reflected bulls’…
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Bitcoin struggles to flip $24K to support, but data shows pro traders stacking sats

July 30, 2022

BTC futures and stablecoin margin data show whales holding steady even as Bitcoin price failed to hold above $24,000. Bitcoin (BTC) rallied on the back of the United States Federal Reserve’s decision to hike interest rates on July 27. Investors interpreted Federal Reserve chairman Jeremy Powell’s statement as more dovish than the previous FOMC committee…
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KuCoin crypto exchange debuts USDT-dominated NFT ETF

July 30, 2022

KuCoin’s new investment product aims to increase the liquidity of and access to leading nonfungible token collections such as BAYC. Seychelles-headquartered cryptocurrency exchange KuCoin has launched an exchange-traded fund (ETF) tied to major nonfungible token (NFT) assets like Bored Ape Yacht Club (BAYC). KuCoin’s NFT ETF Trading Zone went live on Friday, the firm announced.…
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CoinFLEX announces staff cuts as part of measures to reduce costs by up to 60%

July 30, 2022

“The intention is to remain right-sized for any entity considering a potential acquisition of or partnership opportunity with CoinFLEX,” said the exchange. Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs. According to a Friday blog post, CoinFLEX said it had cut some staff…
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Pro-Russian groups raised only 4% of crypto donations sent to Ukraine

July 30, 2022

“While significant, the $2.2M worth of crypto donated to pro-Russian orgs still pales in comparison to the tens of millions in crypto donated to Ukraine,” said Chainalysis. According to data from crypto analytics firm Chainalysis, users have sent more than $2 million in crypto to 54 pro-Russian groups since Feb. 24, a fraction of that…
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ECB Economists Suggest Limiting Access to Digital Euro to Protect Banks

July 30, 2022

A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB) to €3,000 per person. Limited Availability of Digital Euro…
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SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms

July 30, 2022

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the agency plans to regulate crypto exchanges. “I’ve asked our staff to work directly with the platforms to get them registered and regulated,” the SEC chief revealed. SEC Chairman Gary Gensler’s Video About Regulating Crypto Exchanges U.S.…
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US Lawmaker Demands Answers From Apple and Google on Measures Against Fake Crypto Apps

July 30, 2022

A U.S. lawmaker has demanded answers from Apple CEO Tim Cook and Google CEO Sundar Pichai about their measures against fake cryptocurrency apps appearing in the Apple App Store and the Google Play store. “Millions of Americans use mobile apps to invest in unregulated digital assets,” said Senator Sherrod Brown. “Reports have emerged of fake…
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