Category: News
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Nigeria’s SEC Eyes Bitcoin Rules Amid Crypto Lawsuit
In a potential shift in the country’s stance on digital assets, the Nigeria Securities and Exchange Commission (SEC) has indicated a cautious willingness to regulate Bitcoin. This comes as a prominent Nigerian Bitcoin advocate files a lawsuit challenging the government’s restrictions on cryptocurrency. Nigeria SEC Considers Crypto Regulation Dr. Momotimi Agama, the SEC’s Director General,…
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First Death Cross of 2024 for Bitcoin
Bitcoin’s price action has recently caught the attention of traders and investors as the 50-day simple moving average (SMA) crossed below the 200-day SMA, forming what is known as a death cross. This technical pattern, seen on Bitcoin’s daily charts, typically signals a bearish trend. The last time Bitcoin encountered a death cross was in…
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Coinbase calls CFTC’s definition of gaming vague in proposed prediction market policies
Coinbase has responded critically to the CFTC’s proposed rules on prediction markets, particularly challenging the definition of “gaming.” The crypto exchange insists that the CFTC should regulate prediction markets on an individual contract basis, arguing that the current broad definitions could unjustly restrict event contracts that offer significant public interest value. Coinbase contends that the…
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The Celsius and Tether Legal Clash: Unfolding Allegations
Celsius Network, a well-known crypto lender, had a significant loan agreement with Tether Ltd. dating back to 2020. This arrangement allowed Celsius to borrow stablecoins like USDT and Euro Tether (EURT), with Bitcoin used as substantial collateral. At its peak, the loan reached nearly $2 billion in USDT, secured by tens of thousands of BTC.…
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$700k robbed in Bitcoin from Israeli Tourists
Eleven Israeli tourists were violently robbed on Santa Teresa de Cóbano beach in Puntarenas, Costa Rica, during a social event. The attack involved at least eight men arriving in two luxury vehicles, overpowering the group’s security guard, and stealing their belongings, including a significant amount of Bitcoin. The robbers, some suspected to have police training,…
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WazirX to Revert User Accounts to Pre-Hack Balances After $230 Million Theft
Indian cryptocurrency exchange WazirX has announced plans to reset all user account balances to their state as of July 18, following a massive $230 million cyberattack. The Mumbai-based exchange paused trading after the incident. The attack, attributed to the North Korean Lazarus Group, compromised nearly half of WazirX’s reserves, marking India’s largest crypto heist. WazirX…
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Pump.fun Allows MemeCoin Creation For Free
Pump.fun, a platform dedicated to launching memecoins, has introduced an incentive that rewards creators with 0.50 SOL (approximately $80) if their tokens successfully list on Raydium, a Solana-based decentralized exchange (DEX). This reward is given once the tokens complete their bonding curves, offering a new way for users to benefit from their creations. Free Token…
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Ripple ordered to pay $125M fine
A federal judge has ordered Ripple to pay a civil penalty of $125,035,150 in its lawsuit with the U.S. Securities and Exchange Commission (SEC). The SEC originally sought a $2 billion remittance payment, while Ripple argued for a maximum penalty of $10 million. In the ruling, Ripple is also instructed to cease any further securities…
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FTX and Alameda to Repay $12.7 Billion to Creditors
FTX and Alameda have agreed to repay $12.7 billion to creditors, per a court consent order that ends a 20-month lawsuit filed by the Commodities Futures Trading Commission (CFTC). This development marks a significant milestone in the FTX bankruptcy saga, which has seen billions of dollars in investor funds evaporate since the company filed for…
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Robinhood posts $682M in Q2 2024 revenue
Robinhood surpassed Wall Street expectations for its second-quarter earnings, driven by a surge in interest in meme stocks and cryptocurrencies. This uptick in trading activity was partly due to the reemergence of meme-stock influencer Keith Gill, which reignited interest in stocks like GameStop. As a result, Robinhood saw a significant 69% increase in transaction-based revenue,…