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According to a report citing “people familiar with the matter,” the U.S. Securities and Exchange Commission has allegedly informed Nasdaq and Cboe that Blackrock’s registration for a bitcoin exchange-traded fund (ETF) and the multitude of other spot bitcoin ETF applications currently in progress are considered inadequate. SEC Reportedly Finds Flaw in the Latest Slew of Spot Bitcoin ETF Applications Following Blackrock’s submission of an application for a spot bitcoin ETF to the U.S. Securities and Exchange Commission (SEC), numerous companies swiftly followed suit and filed their own registrations for similar products. Despite the SEC’s approval of bitcoin futures ETFs, including a newly authorized leveraged option, the regulatory body has thus far refrained from granting approval to spot bitcoin ETFs. According to insiders cited by Vicky Ge Huang of the Wall Street Journal (WSJ), the latest registrations submitted including Blackrock’s ETF are reported to fall short of meeting th...

Litecoin surged by as much as 20% in today’s session, as bulls took the token to its highest level since April. The move came prior to the latest consumer sentiment report from the U.S, which rose to a reading of 64.4. Bitcoin cash climbed to its highest point since April 2022. Litecoin ( LTC ) Litecoin ( LTC ) rose above $100.00 for the first time since April, as traders seemingly remained bullish on the token following its recent listing on EDX markets. LTC /USD hit an intraday peak of $102.38 earlier in today’s session, which came following a low of $84.25 the day before. As a result of the rally, litecoin peaked at its strongest point since April 18, when price reached a top at $103.41. Today’s move came as bulls were able to break out of a recent resistance level of $98.00, with the relative strength index (RSI) doing similar. Litecoin’s price strength surged past a ceiling at the 62.00 mark, on its way to a current reading of 65.43. Should momentum continue, bulls will li...

PRESS RELEASE. WebX , Asia’s leading Web3 conference (July 25-26), is thrilled to announce the participation of more esteemed guests at this year’s event: Japan prime minister Fumio Kishida, Yuga Labs CEO Daniel Alegre, the Dogecoin dog Kabosu, and the groundbreaking AI robot Desdemona (Made by Hanson Robotics, sister to Sophia the Robot). WebX is a conference dedicated to bridging divides – Web2 and Web3, Japanese and English, Japan and the rest of the world. Japan has the potential to become Asia’s Web3 hub, and this inaugural WebX conference is both a recognition of and a launchpad for that potential. Prime Minister Kishida speaking at WebX underscores the Japanese government’s recognition of the significance of Web3 technology in shaping Japan’s digital future. Their involvement signifies a strong commitment to driving technological advancements and fostering a favorable ecosystem for Web3 businesses. Yuga Labs, known for their contributions to the NFT space and digital art, w...

Bitcoin remained close to the $31,000 level on Friday, as momentum in the market continued to be bullish heading into the weekend. This comes ahead of the anticipated consumer sentiment report from the United States, which is expected to show an increase in overall consumer confidence. Ethereum also edged higher today, climbing above $1,900. Bitcoin Bitcoin ( BTC ) remained close to $31,000 in today’s session, as traders prepared for the consumer sentiment report from the United States. After dropping to a low of $30,273.22 on Thursday, BTC /USD raced to an intraday peak of $31,256.86 earlier today. As a result of the move, bitcoin neared a recent one-year high at $31,443, which was last Friday’s high. Bitcoin chart by TradingView Friday’s surge also led to a breakout of a key price ceiling at $30,800. This appears to be due to the relative strength index (RSI) running into its own resistance level at the 70.00 mark. At the time of writing, BTC is trading at $30,831.12. E...

Coinbase, one of the largest U.S.-based cryptocurrency exchanges, has filed a 177-page answer to the complaint introduced by the U.S. Securities and Exchange Commission (SEC), where the agency states the company was involved in the illegal brokerage of securities. Coinbase alleges that the institution lacks “any powers to regulate” cryptocurrency exchanges and that this enforcement action “offends due process and the constitutional separation of powers.” Coinbase Contests SEC Powers to Regulate Cryptocurrency Exchanges Paul Grewal, CLO of Coinbase, the largest U.S.-based cryptocurrency exchange, announced the filing of an answer to the complaint presented by the U.S. Securities and Exchange Commission (SEC), where the institution accuses the Coinbase of unregistered securities brokerage. In the 177-page document , Coinbase explains that in April 2021, the SEC approved its registration to go public through an IPO on Nasdaq, “allowing Coinbase’s shares to be sold to millions of re...

According to the Commodity Futures Trading Commission (CFTC), Michael Ackerman, the operator of an alleged fraudulent digital asset trading scheme, has been issued with an injunction order which bars him from trading in any CFTC-regulated markets or registering with the CFTC. The injunction also requires Ackerman to pay $27 million in restitution to defrauded victims and a civil monetary penalty of $27 million. Only $10 Million Was Used to Trade Digital Commodity Assets The Commodity Futures Trading Commission (CFTC) announced on June 28 that a default judgment granting a permanent injunction has been issued against Michael Ackerman, the operator of a fraudulent digital asset trading scheme. According to the commission, the injunction granted by Naomi Reice Buchwald, a judge with a U.S. District Court, bars Ackerman from trading on regulated markets and registering with the CFTC. The statement also revealed that Ackerman, who was sentenced to five years of probation with a year of...

The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators mandated the closure of Prime Trust. Despite these challenges, Coinbits maintains confidence that the custodian “still has enough bitcoin to honor our members’ balances.” Bitcoin Investment App Coinbits Hit by Prime Trust Crisis, Halts Operations In light of the financial difficulties faced by the cryptocurrency custodian Prime Trust, the bitcoin investment app Coinbits and its team have decided to suspend certain operations as a result of their association with the company. Coinbits made the announcement in a Twitter thread, expressing that it was an unfortunate message they had never anticipated sharing. This is thread that we would never have wanted to write. We’ve been posting updates on our...

Solana surged 10% on June 29, after it was confirmed that a new cross-chain bridge will allow users easier access to other blockchains. The update from Debridge will reportedly enable solana users to access ethereum’s virtual machine for the first time. Bitcoin cash extended its own gains on Thursday. Solana (SOL) Solana (SOL) was a notable mover in today’s session, as the price rose by over 10%. Following a low of $15.75 during Wednesday’s session, SOL/USD jumped to a peak of $18.20 earlier in the day. This resulted in the world’s ninth largest cryptocurrency climbing to its highest point in the past 20 days. As a result of the rally, the 10-day (red) moving average is now on the cusp of an upward crossover with its 25-day (blue) counterpart. Additionally, the relative strength index (RSI) appears to be nearing a breakout of a resistance point around the 51.00 level. The index is currently tracking at 50.87, with SOL at $17.35, after giving up earlier gains. Bitcoin Cash ( BC...

On June 28, 2023, Bitcoin saw its first downward difficulty adjustment in 56 days, or since May 4, with a decline of 3.26%. This modification lowered the network’s difficulty to 50.65 trillion from its record high of 52.35 trillion on June 14. Bitcoin Mining Gets a Breather: Difficulty Decreases by 3.26% in Recent Adjustment Today, mining bitcoin ( BTC ) is now 3.26% less challenging than it was in the previous fortnight or since June 14. This decline of 3.26% happened at block height 796,320 on June 28, reducing the difficulty to the current level of 50.65 trillion. Shortly after the difficulty increase on June 14, the adjustment that took place on June 28 was initially anticipated to be a rise due to soaring hashrates and quicker block intervals. Nonetheless, following June 19, 2023, this all shifted as a reduced hashrate and slower block intervals resulted in the drop. In fact, as of Thursday, June 29, 2023, the total hashrate dipped below the 300 exahash per second (EH/s) ran...

Bitcoin rebounded on Thursday, as markets reacted to the news that Microstrategy bought an additional $374 million worth of the cryptocurrency. Michael Saylor’s firm now has 152,333 bitcoin, worth roughly $4.52 billion. Ethereum moved closer to $1,900 on the news. Bitcoin Bitcoin ( BTC ) edged higher in today’s session, after it was confirmed that Michael Saylor’s Microstrategy purchased 12,333 BTC . Following the news, BTC /USD hit a high of $30,740.79, which comes after the price bottomed out at $29,921.82 the day prior. Today’s rally has seen BTC briefly break out of a resistance level at the $30,700 mark, however bulls are struggling to sustain this. At the the time of writing, bitcoin is trading at $30,678.73, with the relative strength index (RSI) nearing a ceiling of its own at 68.00. Price strength is now at 67.02, with earlier bulls seemingly opting to secure some gains as the aforementioned resistance looms. In the event this zone is breached, there is a good chance...

While non-fungible tokens (NFTs) are generally believed to represent the link between an owner and an asset, without platforms acting as “digital notaries” there can be no effective way of stopping scammers from minting and selling plagiarized works, Shaban Shaame, the co-founder of Wakweli protocol has argued. Tokenizing Real-World Assets According to Shaame , the ease with which anyone (including scammers) is able to generate a certificate of authenticity for an NFT only further highlights the importance of having such an authenticating entity. In addition to using tools such as digital notaries, the co-founder of Wakweli — a Layer-1 protocol that issues certificates of authenticity for NFTs & real-world assets — said NFT users must learn to do their own research. NFT traders should always triple-check transactions they sign or the projects they join, Shaame added. Also, in his written answers to questions sent from Bitcoin.com News, the co-founder also offered his thoughts o...

PRESS RELEASE. Mind Network , an innovative platform leading the way in data security and privacy within the Web3 ecosystem, is delighted to announce the successful completion of its initial funding round, raising $2.5 million. Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and other notable investors participated in the funding round. Mind Network has emerged as a frontrunner in the Web3 arena, providing users with end-to-end encryption and granting them full control over their personal data, financial transactions, and user interactions. By incorporating the principles of Zero Trust Security, Zero Knowledge Proof, and proprietary Adaptive Fully Homomorphic Encryption techniques, the platform ensures robust protection and access control within the decentralized ecosystem. “We are extremely pleased to receive the support and confidence of such esteemed investors,” stated Mason, representing Mind Network ...

On June 28, the crypto hardware wallet manufacturer and security firm Ledger unveiled its latest offering, a digital currency exchange and custodial solution service, specifically tailored for institutions. The new service, known as Tradelink, has been heralded by Ledger as “the first open network to enable custodial trading via exchange and custodial partners.” Ledger Targets Institutions With Tradelink Launch The security firm and crypto hardware manufacturer Ledger announced the launch of a new service on Wednesday that targets institutional investors. According to the company, the Ledger Enterprise Tradelink service will enable “off-exchange trading,” “enhanced security,” “distribution of risk,” “zero transaction fees,” and “faster and more efficient trading.” Ledger details that it has partnered with a slew of asset managers and market makers such as Hodl Group, Wyden, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk, YouHodler, Crypto.com, Bitstamp, Huobi, Uphold Insti...

Microstrategy has purchased 12,333 more bitcoin for about $347 million, growing its cryptocurrency holdings to 152,333 btc. The Nasdaq-listed software company’s announcement came amid a series of positive developments in the crypto industry. Microstrategy Adds 12,333 Bitcoin to Its Holdings Business intelligence and software company Microstrategy (Nasdaq: MSTR) has expanded its bitcoin holdings. The company’s co-founder and executive chairman, Michael Saylor, announced in a tweet Wednesday: Microstrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 Microstrategy hodls 152,333 $ BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. In its filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday, the company clarified that the additional coins were acquired during the period between April 29 and June 27. At the time of writing, the price of bitcoin is $30,109. Saylor...

Shiba inu was down by as much as 5% on Wednesday, as the meme coin slipped to a one-week low in today’s session. Market uncertainty has heightened in recent days, following the news that Prime Trust has been placed into receivership. Additionally, traders’ nerves increased ahead of Federal Reserve Chair Jerome Powell’s latest speech. Shiba Inu (SHIB) Shiba inu (SHIB) fell by nearly 5% in today’s session, as traders reacted to several points of macro-economic news. After surging to a peak of $0.000007668 on Tuesday, SHIB/USD dropped to an intraday bottom at $0.000007261 earlier in the day. This drop saw bearish sentiment marginally increase, with short sellers now seemingly targeting a floor at $0.00000640. Overall, SHIB has fallen for three of the last six days, pushing its relative strength index (RSI) to a current low at 41.89. As a result of this, the index fell below a support point at 46.00, and now seems to be heading for a lower floor at 40.00. Should it reach this point...

On Tuesday, U.S. district judge Lewis Kaplan rejected Sam Bankman-Fried’s attempt to dismiss criminal charges against him. Bankman-Fried claims he was charged in a manner that violates the “rule of specialty” as far as the extradition treaty between the Bahamas and the United States is concerned. Judge Throws Out Bankman-Fried’s Motion to Dismiss Disgraced FTX co-founder Sam Bankman-Fried’s (SBF) attempt to dismiss criminal charges against him has been rejected by U.S. district judge Lewis Kaplan on June 27, 2023. SBF moved to dismiss the post-extradition charges (counts 4, 6, 9, 10, 12, and 13) because his legal team believes he was charged in a manner that violates the “rule of specialty.” Essentially, SBF claimed that the extradition process from the Bahamas to the United States did not adhere to the rule of specialty because he was being charged with additional offenses beyond those specified in the extradition request. SBF’s legal team insisted that the United States exceede...

After briefly rising above $31,000, bitcoin consolidated on Wednesday, as bulls moved to secure recent gains. The uncertainty came as crypto custodian Prime Trust entered receivership, after being found to be illiquid by authorities. Ethereum also declined, once again falling below $1,900. Bitcoin Bitcoin ( BTC ) consolidated on Wednesday, as traders opted to secure profits following a recent bull run. BTC /USD broke out of a key resistance level at $30,800 on Tuesday, on its way to a peak at $31,006.79 late in yesterday’s session. However, take profit orders seemed to have been triggered, with bitcoin dropping to an intraday low of $30,169.78 today. Bitcoin chart by TradingView As mentioned yesterday, the relative strength index (RSI) was approaching a ceiling at 73.00, and it appears that bulls were unable to move beyond this point. The index is now tracking at the 66.45 mark, which comes after price strength was unable to stop at a support level at 68.00. Should this dow...

The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas Jordan said while the Central Bank has not ruled out launching retail CBDCs, the bank is being “a little bit prudent at the moment.” ‘This Is Not Just an Experiment’ The Swiss central bank said on June 26 it intends to issue wholesale central bank digital currency on SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. According to Thomas Jordan, the chairman of the Swiss National Bank (SNB), the pilot CBDC project is expected to commence soon and will run for a limited period. However, the SNB chairman who spoke at the Point Zero Forum , revealed that the experiment would involve the use of a real money equivalent. “This is not just an experiment, it will be real money equ...

PRESS RELEASE. The AX1 syndicate has conducted an in-depth review of the latest legal developments in the cryptocurrency space, with particular attention to the regulations, exchanges, and tax implications for both the European Union and the United States. This review aims to illuminate the evolving regulatory landscape and highlight key areas of concern and significance. The study begins by examining the risks associated with using Centralized Exchanges (CEXs) for long-term storage of funds, particularly in light of recent CEX troubles. The review advises against using CEXs for long-term storage, even for the largest Tier 1 CEXs, due to potential risks such as regulatory enforcement, fraud, and liquidity issues​​. The review also delves into the different crypto fiat on-ramp and off-ramp options available in the EU and US, each with its own set of advantages and disadvantages. The options include bank transfers, credit card transactions, PayPal, Crypto ATMs, and Over-The-Counter ...

Bitcoin cash rose to a one-year high on Tuesday, as traders continued to buy the token following last week’s EDX markets listing. The newly formed exchange, which is backed by the likes of Citadel, Sequoia Capital and Fidelity, listed the coin in its offering. Litecoin was another token added to the exchange. Bitcoin Cash ( BCH ) Bitcoin cash ( BCH ) was one of Tuesday’s notable gainers, as the token surged to a one-year high. Following a low of $197.30 to start the week, BCH /USD raced to an intraday peak of $236.64 earlier in the day. As a result of today’s peak bitcoin cash moved nearly 18% higher, hitting its strongest point since May 2022 in the process. From the chart, a breakout above a ceiling at 80.00 on the relative strength index (RSI) appears to be one of the reasons for today’s surge. The index is now tracking at 82.55, which is deep in overbought territory, and comes as price rose by 120% in the last seven days. Bears are likely already circling the token, anticip...

PRESS RELEASE. [Singapore], 27 th June 2023 – Bitfufu, a leading crypto mining platform, announces the highly anticipated 2023 Bitfufu Mid-Year Festival. Enjoy incredible deals and promotions, maximizing your mining returns. With the theme “All IN BOTTOM MINING! UP TO 20% OFF,” Bitfufu revolutionizes the mining industry with unbeatable discounts and benefits. Key festival promotions include the Golden Mining 200 days offer, extending mining duration by 60 days without hashrate fees. This ensures extended profitability and rewards for users, maximizing their mining potential. Bitfufu introduces the Double Hashrate Rewards program, offering up to 20% off mining packages, generating more crypto at a fraction of the cost. This exclusive offer delivers exceptional value to loyal users. For newcomers, it can be understood that Bitfufu’s mining recovery locks in $23,500 in purchased BTC because you can lock in mining costs and fees by paying an initial fee. Dive into cryptocurrency min...

Law enforcement officials in Switzerland reportedly seized approximately $26 million in bitcoin and other cryptocurrencies, believed to be linked to Terraform Labs and its co-founder, Do Kwon. Local media in South Korea revealed that the funds were confiscated from Sygnum, a crypto bank based in Zurich. The U.S. Securities and Exchange Commission is said to have played a significant role in this operation. Crypto Assets Worth $26 Million Reportedly Confiscated in Switzerland, Tied to Terraform Labs and Co-Founder Digital Asset, a South Korean news publication, has reported the seizure of approximately $26 million in cryptocurrency assets from an account linked to Terraform Labs and Do Kwon. The funds were held at Sygnum, a crypto bank based in Switzerland, and Swiss law enforcement authorities froze the assets following a request from the U.S. Securities and Exchange Commission (SEC). In late April, reports surfaced regarding Kwon’s purported funds held at Sygnum Bank, with prose...

After a three-day losing streak, bitcoin rebounded on Tuesday, ahead of the upcoming consumer confidence report in the United States. Price briefly fell below the $30,000 level earlier in the session, however bullish momentum has since returned. Ethereum rose above $1,900 for a short period. Bitcoin Bitcoin ( BTC ) rebounded from recent losses on Tuesday, ahead of the upcoming U.S. consumer confidence report. The Conference Board expects its index to rise to a reading of 104.0 in June, up from 102.3 the month prior. BTC /USD rose to an intraday high of $30,751.19 on Tuesday, following a low at $29,955.74 to start the week. The move appears to have occurred as the 14-day relative strength index (RSI) bounced from a support point at 68.00. As of writing, the index now sits at a reading of 70.17, which is once again in overbought territory. A barrier at 73.00 is now the next visible ceiling, and unless bulls break out of this point, BTC will likely move back below $30,000. Ether...

Bitcoin mining is the highest user of sustainable energy and has similarly achieved the highest increase in sustainable energy mix between July 2019 and June 2023, new data has shown. The data also shows that bitcoin mining’s emission intensity has declined from more than 500 g/kWh seen in July 2021 to the June 2023 figure of 296 g/kWh. Bitcoin Mining Has the Highest Increase in ‘Sustainable Energy Mix’ According to the data comparing bitcoin mining to other industries’ energy mix, the process to extract the top cryptocurrency ranks as “the highest user of sustainable energy (52.6%) across sub-sectors.” The data shows the banking sector as the next highest user of clean energy with 39.2%, while the gold industry is ranked fourth with 12.8%. The data, which is based on the so-called Bitcoin Energy and Emissions Sustainability Tracker (BEEST) model , indicates that Bitcoin mining has also achieved the “highest increase in [the] sustainable energy mix (+38%) during the period charted ...

PRESS RELEASE. Prepare yourself for the highly anticipated public sale of $GORA on June 28th by staying informed and ready. Rest assured, we have all the vital information about the two launchpads, Poolz and Tokensoft, to guide you through the process seamlessly. This concise guide will provide you with valuable insights and specifics about these platforms, enabling you to navigate the sale with ease. Don’t miss your chance to secure $GORA tokens through Poolz and Tokensoft and be an integral part of the revolutionary Goracle Network. Get ready to join the action! IDO Overview Date: Wednesday, June 28th, 10:00 A.M. UTC Location: we are launching on the following launchpads Tokensoft: Goracle Portal . A well known IDO platform with successful project launches such as The Graph, Tezos & Hedara Hashgraph To participate, complete your KYC (Know Your Customer) process today by visiting http://goracle.tokensoft.io . This step is essential to comply with regulatory requir...

While the co-founder of Terraform Labs has been sentenced to four months in jail in Montenegro, a team of six anonymous developers have been attempting to revive the Terra Classic ecosystem after its collapse in May 2022. The six programmers, known as the “Six Samurai,” wholeheartedly believe that luna classic (LUNC) has “limitless upside potential.” Developers Rally to Breathe Life Into Terra Classic Following the collapse of the Terra ecosystem in May 2022, a new blockchain called Phoenix was formed, and the network issued new luna (LUNA) tokens. However, the old blockchain, now referred to as the “Classic” network, continues to exist and has a market valuation of approximately $531 million as of Monday, June 26, 2023. The native token of the Terra Classic chain, now known as luna classic (LUNC), currently trades at around $0.00009140 per unit. A group of developers, self-identified as the “Six Samurai,” now aims to revive the struggling network and infuse new life into the Terr...

In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The list of these digital assets includes popular tokens such as bitcoin, ethereum, usd coin, litecoin, and several others that the SEC has classified as securities in recent years. Crypto Regulations Diverge: Indonesia Embraces 501 Digital Assets as Commodities On June 9, 2023, Indonesia’s regulatory agency Bappebti made public a comprehensive catalog of 501 crypto assets that are now classified as commodities within the country. This classification encompasses well-known coins like LTC , UNI, SOL, BTC , ADA , ETH , XRP , SAND, DOT, XTZ , XLM , BUSD, and XRP , among others. These assessments were made following the announcement by the Indonesian government regarding the establishment of a crypto exchange in September 2022. The subsequent mon...