Author: Sahil Thakur
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SEC Crypto Fines hit $4.7B in 2024; Terraform Labs account for $4.4B
The U.S. Securities and Exchange Commission (SEC) has ramped up its enforcement actions against crypto firms in 2024, with fines totaling nearly $4.7 billion—a staggering 3,000% increase from the previous year. The SEC’s enforcement was significantly boosted by its $4.47 billion settlement with Terraform Labs and its former CEO Do Kwon in June, marking the…
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Propbase to be bridged to the BASE blockchain
Propbase CEO Kevin Goos announced that the project would be bridged to it’s namesake the BASE blockchain in September 2024. $PROPS would also be available for trading and yield farming on BASE. According to the team, all utility would still be available on the parent Aptos chain but bridging to the BASE chain will bring…
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Bitcoin to reach $90k if Trump wins, $30k if Kamala does: Bernstein
Bitcoin’s future could greatly hinge on the outcome of the upcoming U.S. presidential election, according to analysts from Bernstein. They foresee vastly different trajectories for the cryptocurrency based on whether Donald Trump or Kamala Harris wins. If Trump secures the presidency, bitcoin could soar to between $80,000 and $90,000 by the end of 2024. However,…
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Three Protocol gets a visual rebranding.
The Three Protocol team just unveiled a new rebranding on their X page with a color scheme and color revamp done by the team. The team mentioned that this change had been done to match the ambitions of the projects. The team has still not completed a full rollout yet, with the full rollout expected…
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Crypto stocks including Coinbase & Marathon digital fall
Cryptocurrency exchange Coinbase experienced its worst trading week of the year, with Bitcoin miner Marathon Digital falling by 20%. A basket of crypto-related stocks tracked by Schwab also dropped to its lowest point since February, reflecting concerns about the U.S. economy and a wider selloff in risky assets. The Nasdaq slid 5.8%, marking its worst…
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VanEck shutting down ETH futures ETF
VanEck has announced it will close and liquidate its Ethereum Strategy ETF, listed on the CBOE. The ETF (ticker symbol ‘EFUT’) will stop trading on Sept. 16, with liquidation expected by Sept. 23. Shareholders still holding EFUT shares at the time of liquidation will receive a cash distribution based on the fund’s net asset value.…
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Propchain burn proposal passed: 25% $PROPC to be burnt
The proposal to burn 25% of the total PROPC token supply has officially passed, signaling a pivotal moment for Propchain. This initiative aims to reduce inflation and improve the token’s overall value by cutting the total supply from 84.9 million to 63.8 million PROPC tokens. The Propchain DAO voted 93.77% in favour of the burn…
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Changpeng Zhao will never lead Binance again: Richard Teng
Binance’s CEO, Richard Teng, has confirmed that former CEO Changpeng Zhao (CZ) is permanently barred from managing or operating the crypto exchange. Contrary to previous reports suggesting a three-year ban, Teng clarified that CZ faces a lifetime ban. CZ, who had been sentenced to four months in prison for violating the Bank Secrecy Act, is…
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Tectum launches SoftNote Wallet App
The Tectum project, $TET, has launched its SoftNote app primarily focused at crypto transactions between users. According to their X, the team focuses to solve the problem of using Bitcoin for retail transactions with their SoftNote application. Two of the biggest barriers to Bitcoin adoption are transaction speeds and costs. Tectum X page On their…
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Crypto in different countries: Legal, Illegal , developments
Legality of crypto in different countries The adoption and legality of crypto in different countries has evolved significantly over the years. Since Bitcoin’s launch in 2009, its status has varied, influenced by how governments perceive the impact of digital assets on their economies and financial systems. In the beginning, crypto existed in a legal grey…