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SEC Demands $102M From Ripple, Dems Reportedly Prepare for Crypto Roundtable, and More — Week in Review

The U.S. Securities and Exchange Commission (SEC) is seeking a $102.6 million penalty from Ripple in the XRP case. Meanwhile, the Biden administration, along with Mark Cuban and Representative Ro Khanna, are preparing for a crucial crypto roundtable. A Bank of America report reveals that younger wealthy investors are increasingly favoring cryptocurrencies over traditional investments.…
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Crypto Portfolio Tracker Coinstats Confirms Security Breach; Temporarily Shuts Down App

According to the crypto portfolio tracking app, Coinstats, suspected North Korea-linked hackers are believed to be behind the security breach on June 22, which impacted 1,590 user wallets, The Coinstats team has advised users with affected wallet addresses to immediately transfer their funds using their exported private keys. Coinstats App Shut Down Coinstats, the crypto…
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Donald Trump’s VP Contenders: A Look at Polymarket Odds and Favorites

With the 2024 election set for November, there’s growing curiosity about whom former President Donald Trump will select as his vice-presidential candidate. Currently, the decentralized prediction market Polymarket is featuring bets on a wide array of potential candidates, with this weekend showing a mystery candidate and Republican Senator J.D. Vance of Ohio as the frontrunners.…
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Detained Binance Employee Includes Financial Compensation Demand in Amended Rights Lawsuit

The jailed Binance employee, Tigran Gambaryan, recently requested permission to amend his fundamental human rights violation against Nigerian law enforcement agencies. The amended proposal reportedly seeks “the costs of this action on a full indemnity basis.” The Economic and Financial Crimes Commission counsel opposed the application for amendment. However, Justice Inyang Ekwo overruled the opposition…
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Exploring Crypto’s Most Expensive Assets: The 5, 4, and 3-Digit Clubs

Throughout bitcoin’s history, the leading crypto asset has traded at five digits per unit for over 28% of its time. In 2022 and 2022, bitcoin (BTC) and yearn finance (YFI) were the only two tokens trading in the five-digit range; however, currently, only bitcoin maintains that status. The following is an overview of the most…
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Forget The Dip! XRP Primed For Epic Rally To $36, Expert Claims

The price of XRP, the native token of RippleNet, has been caught in the crosshairs of a bearish crypto market. Currently trading below the crucial $0.50 mark, XRP seems to be following the broader market trend. However, a recent analysis by market analyst Tylie Eric throws a glimmer of hope for XRP holders, predicting a…
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Former Microsoft Engineer Predicts a Gradual Shift in Blockchain Development Focus Toward Vertical Scaling

While wrapped digital assets have enabled the bridging of assets and expanded their utility, their perceived need for custodianship reintroduces centralization risks and trust dependencies. This contradicts the decentralized ethos of blockchain technology, according to Chris Li, founder and CTO of Ava Protocol. Attaining Utility While Preserving the Core Principles of Decentralization Li told Bitcoin.com…
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Bitcoin Network Adapting Despite Experiencing Growing Pains, Says Early BTC Investor

Although Bitcoin-based decentralized applications (dapps) have been known to replicate or copy Ethereum dApps, Jeff Yin, founder of Merlin Chain, believes there is a growing impetus to build bitcoin dapps that are distinguishable from ether-based dapps. Yin, however, noted that the synchronization between bitcoin-based dapps and the Ethereum Virtual Machine (EVM) dapps still benefits the…
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Prime Suspect in $2.2M Crypto Fraud Faces Up to 20 Years in Prison

The U.S. Department of Justice (DOJ) announced on Friday that Robert Wesley Robb, 46, from Colorado, pled guilty to wire fraud for deceiving investors with false promises about a Maximum Extractable Value (MEV) cryptocurrency trading bot. Robb solicited investments via social media, claiming high returns and pressuring individuals to invest quickly. On Sept. 8, 2023,…
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South African Tax Authorities Scrutinize Crypto Traders Amid Compliance Uncertainty

South African crypto traders have reportedly started receiving notices from the South African Revenue Service (SARS) indicating that their tax affairs are under review. The revenue collector is gathering information from various crypto-asset exchanges to assess compliance. Traders who fail to provide requested information could face criminal charges under the Tax Administration Act. SARS may…
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