A chorus of disapproval rang out from the halls of the United States Congress on Sept. 14 as the House of Representatives Financial Services Committee digital assets subcommittee held a hearing on the “digital dollar dilemma.” Five expert witnesses were scheduled to testify at the hearing, and all of them argued against creating a U.S.
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Data shows the Ethereum leverage ratio has been going up recently, something that may lead to higher volatility for the asset’s price. Ethereum Estimated Leverage Ratio Has Risen To 23% Now As explained by an analyst in a CryptoQuant Quicktake post, the Ethereum leverage ratio is pointing at increased risk in the market. The “estimated
Yesterday, September 13, the US Securities and Exchange Commission (SEC) charged Stoner Cats 2 LLC for conducting an unregistered offering of crypto asset securities. The offering, in the form of non-fungible tokens (NFTs), raised approximately $8 million to finance an animated web series called Stoner Cats. The SEC’s latest action has drawn sharp criticism from
Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin market “feels different” Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC price highs of $26,535 on Bitstamp. The largest cryptocurrency had shaken off higher-than-expected United States
Polygon co-founder Sandeep Nailwal believes the layer 2 blockchain firm is reaping the benefits of allocating $1 billion to develop zero-knowledge proof (ZK-proof) powered scaling solutions for the Ethereum ecosystem. Speaking at a keynote address during the latest edition of the Token2049 conference in Singapore, Nailwal touched on the development of ‘Polygon 2.0’ scaling efforts
The United States Securities and Exchange Commission (SEC) charging nonfungible token (NFT) project Stoner Cats sparked feedback from commissioners Hester Peirce and Mark Uyeda, arguing that the project’s activity constitutes fan crowdfunding, which they believe is common for artists. On Sept. 13, the SEC charged Stoner Cats 2 LLC, the firm behind the animated series
The account that overpaid $500,000 in fees on Sept. 10 for a Bitcoin transfer belonged to Paxos, according to a Sept. 13 statement from the company. Paxos claimed that end users have not been affected and all user funds are safe. Paxos is most well-known as the issuer of stablecoins, including PayPal USD (PYUSD) and
Web3 game Gods Unchained released a new gameplay format that allows players to compete with semi-random cards they receive at the start of a tournament. Called “Sealed Mode,” the format is intended to reward highly skilled players, even if they don’t have a large or expensive card collection. The new format was announced via a
Alibaba announced that its proprietary large language model, an artificial intelligence system called Tongyi Qianwen, will be available for public and enterprise access throughout China starting Sept. 13. Tongyi Qianwen is a ChatGPT-like large language model trained on a corpus of English and Chinese text. While its exact specifications aren’t known — early rumors indicated
There have been talks of the likelihood of Ripple and the US Securities and Exchange Commission (SEC) settling in their ongoing legal battle. However, recent comments from Ripple’s President Monica Lang suggest that the company is unlikely to settle with the Commission as it plans on seeing the case “all the way through.” Ripple Not
In the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Bitcoin’s (BTC) latest bounce at $25,000, which some analysts and influencers argue represents a short-term buying opportunity. Pechman explains that Bitcoin’s inverse correlation with the U.S. Dollar Index has only held for 40% of the previous 20 months, meaning it is
The BNB Chain blockchain ecosystem is set to tap into Optimism’s rollup technology, powering its newly launched opBNB layer-2 scaling platform. BNB Chain announced the public mainnet launch of its Ethereum Virtual Machine (EVM)-compatible L2, which delivers lower gas fees and faster transactions to decentralized applications running within the ecosystem. The opBNB platform reportedly handled
Lawmakers in the European Union parliament voted overwhelmingly in support of the eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, in a plenary session on Sep. 13. Held in Strasbourg, France, the session reportedly saw DAC8 receive overwhelming support in the form of 535 member votes for and just
Ask 10 different people to define a decentralized autonomous organization (DAO), and you’ll likely get 10 different definitions. But there is at least one thing most agree on: DAO governance is a mess. At best, it’s an experiment in the works. According to DeepDAO, DAOs today handle a whopping $17.2 billion in value. Yet many
Popular messaging app Telegram has finally unveiled a crypto wallet nearly three years after it first revealed plans to build a Web3 ecosystem. The wallet was unveiled during the ongoing Token2049 event in Singapore. Telegram unveils TON based self custody wallet integration. Source:X The crypto wallet is developed on the TheOpen Network (TON) blockchain and is
Stablecoin issuer Paxos has published the first transparency report for the Ethereum-based stablecoin PayPal USD (PYUSD), stating that the coin is fully backed by assets. According to the report, the total assets held in PayPal USD custody “meet or exceed the token balance,” with total tokens outstanding amounting to $44.4 million as of Aug. 31,
Adobe, IBM, Nvidia and five other companies have endorsed U.S. President Joe Biden’s voluntary artificial intelligence (AI) commitments, including watermarking AI-generated content. This announcement was made by the White House on Tuesday, Sept 12. The White House Chief of Staff, Jeff Zients, emphasized the urgency of leveraging AI’s advantages, mitigating its risks and rapid action,
Traditional financial institutions that have filed crypto ETF applications have focused on a particular market (spot or futures). However, a recent NASDAQ application suggests that the asset manager Hashdex is taking a different approach, which could be a game changer in the Ethereum ETF race. NASDAQ Proposes To List Ethereum ETF According to the application
In a recent interview with Bloomberg’s Annabelle Droulers at the Singapore Token2049 conference, Ripple CEO Brad Garlinghouse shared his insights on the ongoing appeal by the Securities and Exchange Commission (SEC) regarding a court decision by Judge Analisa Torres. Garlinghouse expressed his frustration with the SEC’s persistence, stating, “Well, on one hand, it’s frustrating. You
Bitcoin experienced a 5% increase after testing the $25,000 support level on Sept. 11. However, this breakout rally doesn’t necessarily indicate a victory for bulls. To put today’s price action in perspective, Bitcoin (BTC) has witnessed a 15% decline since July. In contrast, the S&P 500 index and gold have maintained relatively stable positions during this
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