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Cryptocurrency News Articles
SEC Subpoenas Companies, Raising Specter of Ether Security Classification
Mar 24, 2024 at 05:30 am
The SEC's subpoenas to companies are raising the specter of Ether's security classification. With a focus on the Ethereum Foundation, the agency's intent to classify ether as a security is under scrutiny. The investigation has sparked concerns about the future regulatory landscape for this digital asset.
Is the SEC Determined to Classify Ether as a Security?
The Securities and Exchange Commission (SEC) has reportedly subpoenaed several companies as part of an investigation into Ether (ETH), raising questions about the agency's intent to classify the digital asset as a security. According to sources, the SEC is examining the Ethereum Foundation, and several U.S.-based companies have received requests for documents related to their dealings with the foundation.
Celsius Aims to Claw Back $2 Billion in Customer Withdrawals
Bankrupt crypto lender Celsius is attempting to recover $2 billion from customers who withdrew funds just before its bankruptcy in July 2022. A bankruptcy oversight committee has begun contacting customers who withdrew over $100,000, with the aim of using the returned funds to compensate those who were unable to withdraw their funds in time.
SEC Sanctioned for Gross Abuse of Power in Debt Box Case
A U.S. district court has imposed sanctions on the SEC for acting in bad faith in a lawsuit against Debt Box. The SEC had initially filed a motion to dismiss without prejudice, but the motion was denied by Judge Robert J. Shelby, who accused the regulator of intentionally misleading the court about evidence used to secure a temporary restraining order and freeze Debt Box's assets.
Binance Offers $5 Million Reward for Insider Trading Tip-Offs
Crypto exchange Binance has announced a $100,000 to $5 million reward for individuals who provide information about potential insider trading or corruption within the exchange. The move comes after allegations of insider trading surrounding the listing of the Book of Meme (BOME) token.
SBF Denounces Proposed 50-Year Sentence as "Medieval Punishment"
Lawyers for former FTX CEO Sam Bankman-Fried (SBF) have argued that the proposed 50-year prison sentence for their client is excessive and does not reflect the severity of his crimes. In a letter to Judge Lewis Kaplan, SBF's lawyers accused the government of distorting reality and portraying him as a "depraved super-villain."
Winners and Losers in the Crypto Market
As of the end of the week, Bitcoin (BTC) is trading at $65,744, Ether (ETH) at $3,516, and XRP at $0.64. The total market cap stands at $2.51 trillion. Among the top 100 cryptocurrencies, the top three altcoin gainers are Ondo (ONDO), Jupiter (JUP), and Fantom (FTM). The top three altcoin losers are Bonk (BONK), dogwifhat (WIF), and Near Protocol (NEAR).
Most Memorable Quotations
"Customers still will never be in the same position they would have been had they not crossed paths with Mr. Bankman-Fried and his so-called brand of altruism." - John Ray III, FTX restructuring officer and CEO
"Am I sorry for a company going bankrupt? No. Like, companies go bankrupt all the time." - Kyle Davies, co-founder of Three Arrows Capital
"People can do what they want with their money but sending money to a memecoin presale that has a 99.9% chance of rugging is actually just dumb as hell." - Anthony Sassano, independent Ethereum educator
"I guess it's that time of the cycle where everyone freaks out about Cardanos potential and roadmap, so they throw a wave of FUD at us." - Charles Hoskinson, founder of Cardano
"Dogecoins enduring popularity and the active community support suggest that it has transcended its origins as a meme to become a staple of the cryptocurrency world." - Coinbase, cryptocurrency exchange
Prediction of the Week
Key Ethereum Price Metric Targets $5.4K ETH in 2024
According to the Mayer multiple oscillator, a technical indicator used to assess whether a cryptocurrency is overbought or oversold, Ether's price could reach $5,400 in 2024. However, analysts caution that the indicator's upper band could be significantly higher than $5,400 by the time Ether reaches those levels.
FUD of the Week
Hacker Moves $10 Million from 2023 Phishing Incident to Tornado Cash
A hacker has transferred 3,700 ETH from a crypto whale's account to Tornado Cash, a privacy-focused cryptocurrency mixer. The funds were stolen in a phishing incident in September 2022, raising concerns about the vulnerability of crypto assets to hacking and phishing attacks.
Old Dolomite Exchange Contract Suffers $1.8 Million Loss from Approval Exploit
An old contract previously used by the Dolomite crypto exchange has been exploited for approximately $1.8 million. The exploit affected users who had previously authorized approvals to the contract, highlighting the importance of revoking approvals to unauthorized contracts.
Top Magazine Pieces of the Week
Bitcoin ETFs Make Coinbase a Honeypot for Hackers and Governments: Trezor CEO
Trezor CEO warns that the dominance of Coinbase and the introduction of Bitcoin ETFs pose a threat to self-custody, making it easier for hackers and governments to access crypto assets.
Why Boomers Like AI Pics on Facebook, Mind-Reading AI Breakthrough: AI Eye
AI mind-reading technology has made significant advancements, while social media platforms like Facebook have become breeding grounds for AI-generated content.
Web3 Gamer: Gods Unchained App Drops Crypto, Kings of Fighters Arena Review
Gods Unchained's executive producer discusses the challenges of complying with app store policies, while The Kings of Fighters Arena is hailed as a polished mobile fighting game.
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- Memereum (MEME): Viral Blockchain Insurance Meets Decentralized Trading
- Dec 25, 2024 at 09:40 pm
- Memereum is conducting a presale for its blockchain-based insurance platform integrated with a decentralized exchange, MemeSwap. MEME has gone viral multiple times this year in an effort to provide innovative decentralized insurance solutions.
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- SUI (SUI) Crypto Shows Strong Momentum, But New Contender MTAUR (MTAUR) Steals the Spotlight
- Dec 25, 2024 at 09:40 pm
- Sui (SUI) has been gaining attention in the cryptocurrency market. Its current price is $4.57, showing a solid 36% rise over the last 30 days. Experts predict bold targets of $10 and even $40, which has sparked interest among crypto enthusiasts. At the same time, a new contender, MTAUR, is making headlines with predictions of moving from 0.0001 USDT to 0.1 USDT. This article will explain Sui's recent price trends, its future predictions, and how the rise of MTAUR could impact the market.
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- Rollblock: Transforming Gambling with Blockchain and GameFi
- Dec 25, 2024 at 09:30 pm
- Solana and XRP have faced market turbulence recently, prompting investors to seek safer, more rewarding opportunities. With its innovative approach and transparent ecosystem, Rollblock has quickly gained attention as a standout choice.