Author: NBTC
Stuart Alderoty, chief legal officer at Ripple, has already commented on the U.S. Securities and Exchange Commission’s latest legal setback, claiming that the agency’s “anti-crypto crusade” is now imploding. The Third Circuit Court of Appeals dubbed the agency’s actions “arbitrary” and “capricious” regarding the agency’s rejection of Coinbase’s petition that was seeking comprehensive rulemaking. The SEC has been requested to provide the reason for its denial. The court has stated that “sporadically enforcing ill-fitting rules” against various cryptocurrency companies goes beyond merely fighting fraud. According to Alderoty, Judge Stephanos Bibas has “laid bare” what the cryptocurrency industry has been saying…
This is a segment from the Empire newsletter. To read full editions, subscribe. Coinbase is shaking things up. If you somehow didn’t hear, Morpho and Coinbase have teamed up to offer loans where Coinbase users (though New York users can’t, much to the disappointment of some of my colleagues) can borrow USDC against bitcoin held on Coinbase. Pretty cool, right? Definitely yet another sign of the changing times. Blockworks data whiz Dan Smith joined Empire’s round-up this week, telling host Jason Yanowitz that he thinks the announcement is a win for bitcoin… with some caveats. “ Bitcoin’s money, they [Coinbase] want…
Vitalik Buterin praised the Soneium L2 launch as an example of serving the priorities of both businesses and users. In cases of conflict, a business-grade L2 is still transparent and traceable. Vitalik Buterin, the founder of Ethereum, praised Sony’s launch of Soneium as an example of deploying a business-grade L2. The current L2 technology can allow a business to choose how much control to keep or give to users, explained Buterin in an X post. Buterin tried to clarify whether L2 actions reflected on Ethereum and whether censorship was the problem of the entire ecosystem. The @Soneium situation is a…
The introduction of options for the $43 billion iShares Bitcoin Trust (IBIT) product will reduce Bitcoin’s volatility and attract a broader investor base, according to Alex Thorn, head of firmwide research at Galaxy Digital. Speaking to Bloomberg Television, Thorn explained the long-term benefits of the new financial product for the cryptocurrency market. Thorn commented on the situation in his statement: “As Bitcoin becomes more widely held, volatility will decrease. Options will help reduce volatility, and as volatility decreases, people will be able to take larger positions.” The availability of options could change the perception of Bitcoin from a high-risk speculative…
Revolutionary Solutions: Eldridge (ELDG) and XRP 2.0 bring groundbreaking innovations to blockchain scalability and cross-border payments. DeFi Bridges: Wrapped Bitcoin (WBTC) expands Bitcoin’s utility, creating dynamic opportunities in decentralized finance platforms. Engagement & Investment: Chiliz (CHZ) enhances fan engagement, while VC Spectra (SPCT) provides unparalleled investment transparency and access. This has made many digital currencies stand ready and wait for the year 2024 to come so that they can change the world of virtual currency. Of them, Eldridge (ELDG), Wrapped Bitcoin (WBTC), VC Spectra (SPCT), Chiliz (CHZ), and XRP 2.0 are identified as possible market challengers. Multiple industry analysts anticipate…
A Florida federal court has ordered Mosaic Exchange Ltd. and its CEO Sean Michael to pay over $1.1 million in penalties and restitution for operating a fraudulent digital asset trading scheme that targeted investors across multiple countries. The U.S. District Court for the Southern District of Florida issued final default judgments in late December, concluding a case that began with the Commodity Futures Trading Commission’s (CFTC) September 2023 complaint against the Pennsylvania-based company and its Miami-based executive. The court found Mosaic and Michael liable for violating the Commodity Exchange Act through a sophisticated deception that ran from February 2019 to…
Robinhood Crypto has announced the addition of Sonic (S) trading support in the European market. This move is part of the company’s expansion strategy. Sonic, formerly known as Fantom (FTM), is the native token of the Sonic network, which operates as a Solana-based Layer 1 EVM blockchain. Source: X Following this announcement, Sonic has secured the #55 rank on CoinMarketCap, with its price at $0.8013. This reflects a 1.01% increase in the past 24 hours. The token’s market capitalization stands at $2.3 billion. Over the last day, Sonic’s trading volume has risen by 153.72%, totaling $221.86 million. Related: Robinhood’s Main…
Metis, a layer 2 network, experienced a significant increase in network activity and transactions in Q4 2024. That is according to a new report released by Messari today. According to the report, Metis witnessed massive growth in the fourth quarter of 2024 as user activity in the network rose significantly. This positively impacted its profitability during the same period. In the wider crypto market, Metis is currently the 281th largest virtual currency in the entire crypto ecosystem based on its market valuation. However, the platform is the 20th largest L2 network on the Ethereum ecosystem. In Q4 2024, @MetisL2’s network…
The combined market capitalization of L2 coins and tokens is on an upward trend. After months of stagnant trading, L2 tokens are regaining value. L2 tokens are starting a recovery, with some of the leading tokens expanding since their September lows. L2 chains remain important in the Ethereum ecosystem and DeFi activity, but have been eclipsed by the meme token craze. Despite the shift in trader interest, L2 projects continued growing their infrastructure, turning into key features of crypto space. As usual, Arbitrum and Optimism led the recovery in market capitalization. L2 tokens exit months of sideways trading L2 tokens…
Gary Gensler’s Securities and Exchange Commission (SEC) branded Binance.US “a cauldron of fraud,” and used its power and influence to choke off the firm’s banking relationships and USD fiat ramps, despite failing to produce any evidence to back up its claims in court, the interim chief of Binance.US told CoinDesk in an interview. In June of 2023, incensed by the chicanery of crypto exchange FTX, the SEC sued Binance and Binance.US, as well as their owner Changpeng Zhao for charges that included violations of securities laws. Later, Binance agreed to a $4.3 billion settlement with U.S. authorities, and Zhao served…