News

Indian Government Provides Clarity on Upcoming Crypto Regulation

The Indian government has provided an update on where crypto regulation stands in India and clarified rumors around an impending ban.

Sjuul Follings

This clarification from the Indian government is a welcome move that addresses uncertainties around regulating versus banning cryptocurrencies. While private digital currencies will face some restrictions under the upcoming legislation, they will remain legal for Indians to transact with. The path forward is regulation rather than prohibition, allowing for progressive policies that balance innovation and consumer protection.

KuCoin Caves in New York, Pays $ 22M Price

Major crypto exchange KuCoin has agreed to pay $22 million and terminate access for New York users in a settlement with the New York Attorney General over violating securities laws.

Sjuul Follings

While resolving pending legal issues, the KuCoin-NYAG settlement highlights ongoing debates around cryptocurrency regulation. Classifying digital assets like ETH as securities broadens their potential oversight but conflicts with their current use and decentralization in some cases. Exchanges also face a complex patchwork of differing regulatory standards as they expand globally.

ChatGPT's Optimistic Forecast for XRP's Price Growth

Explore ChatGPT's prediction for XRP's price growth, projecting an ambitious $2.5 target by year-end and a conservative $5 average by next year, amidst crypto market volatility.

Sjuul Follings

ChatGPT predicts a bullish future for XRP, projecting a price target of $2.5 by the end of this year and an average of $5 by the end of the next year. This optimism is based on XRP's recent regulatory advancements and market potential, despite existing challenges and the need for resolution in the Ripple-SEC case.

Coinbase Enhances User Experience with Simplified Wallet and New Integrations

Coinbase introduces a simplified wallet interface and adds new asset and protocol support, enhancing user experience and broadening its DeFi offerings.

Sjuul Follings

Coinbase revamps its crypto wallet with simplified features and expands its offerings by integrating support for the Base lending protocol, Seamless. These advancements aim to enhance the user experience, particularly for newcomers, and contribute to the exchange's growth in the DeFi sector.

OKX DEX Hacked For $2.7M: Proxy Update Gone Wrong.

Read about the recent $2.7 million hack on OKX DEX, caused by a proxy admin contract upgrade that compromised the private key.

Sjuul Follings

The recent $2.7 million exploit on OKX DEX following a proxy admin contract upgrade emphasizes the importance of security in the crypto industry. As the industry grows, so do the risks associated with it. Users and platform operators must prioritize security measures to protect their assets and maintain trust within the ecosystem. By staying informed, adopting best security practices, and taking proactive steps, we can collectively contribute to a safer and more secure crypto landscape.

Cantor Fitzgerald CEO Howard Lutnick Is All-In on Bitcoin and Tether

An examination of Cantor Fitzgerald CEO Howard Lutnick's bullish views on Bitcoin and Tether, including why he favors these cryptocurrencies over others.

Sjuul Follings

As a prominent Wall Street figure, Howard Lutnick's endorsement of Bitcoin and stablecoin Tether provides a strong validation for the future of these cryptocurrencies. His rationale emphasizes decentralization as a key attribute for long-term viability. Other institutions are likely to follow his bet on the two largest digital assets by market cap.

Record Surge in Active Addresses on Litecoin Network

Explore the significant surge in Litecoin's active addresses, reaching an all-time high four months after LTC's halving event, indicating increased network activity and user engagement.

Sjuul Follings

Litecoin's network activity has hit a new all-time high in active addresses, indicating increased user engagement. This surge, coupled with the introduction of the LTC-20 token standard and a rise in wallet balances and transaction volume, underscores Litecoin's growing significance in the cryptocurrency market.

FTX Struggles with IRS Tax Demands in Customer Fund Recovery Process

Explore how FTX's bankruptcy recovery process is hindered by the IRS's demand for a $24 billion tax, complicating efforts to refund customers affected by the platform's collapse.

Sjuul Follings

FTX faces a challenging recovery process due to the IRS's demand for $24 billion in taxes, complicating efforts to refund customers. Despite not generating significant revenue or profit, FTX is burdened with an excessive tax claim, raising concerns about the impact on customer refunds and highlighting the volatility of FTT token prices.

Elizabeth Warren's Crypto Crackdown: Analyzing her New Regulation Bill

This post analyzes Senator Elizabeth Warren's push for stricter cryptocurrency regulation through her new "Digital Asset Anti-Money Laundering Act" and implications of the proposed bill.

Sjuul Follings

Senator Warren's bill offers the most concrete regulatory proposal so far around establishing anti-money laundering rules for digital assets. While aimed at curbing criminal misuse of crypto, there is debate around an optimal policy approach that balances oversight and innovation. Its fate in Congress and eventual implications will be closely watched events shaping the evolving relationship between cryptocurrencies and governance.

China to Implement National Blockchain-Based Digital Identity System

China has announced plans to launch a decentralized digital identity system called RealDID that will enable the verification of 1.4 billion Chinese residents' identities using blockchain technology.

Sjuul Follings

Deutsche Bundesbank Report Spotlights Ripple and XRP in Financial Innovation

Discover how Deutsche Bundesbank's report highlights Ripple and XRP as key players in revolutionizing the global payment landscape through innovative technology.

Sjuul Follings

Deutsche Bundesbank's recent report highlights Ripple and XRP's significant contribution to innovations in the payment landscape, acknowledging their role in reducing friction for cross-border transactions and the potential risks involved. This recognition aligns with global praise for Ripple’s payment solutions.

BlackRock's Warning: Bitcoin's Trade Value at Risk if SEC Declares it a Security

BlackRock's warning sheds light on the potential impact of regulatory decisions on Bitcoin's market dynamics. As the SEC continues to navigate the crypto sector's regulation, the classification of Bitcoin will be crucial in shaping its trade value and investor confidence.

Sjuul Follings

BlackRock's warning sheds light on the potential impact of regulatory decisions on Bitcoin's market dynamics. As the SEC continues to navigate the crypto sector's regulation, the classification of Bitcoin will be crucial in shaping its trade value and investor confidence.

Tether Freezes Tokens of Sanctioned Individuals Listed by OFAC

Tether has frozen the crypto wallets of 161 individuals sanctioned by OFAC, with 11 wallets currently holding over 3.5 million USDT tokens in total.

Sjuul Follings

By freezing the wallets of sanctioned individuals, Tether demonstrates its commitment to complying with regulators and ensuring its platform is not used for any illicit activities. However, many questions remain around the addressed frozen that do not currently hold any USDT. Overall, the move signals greater cooperation between major stablecoin issuers and authorities.

Bitcoin Drops Below Crucial $42,000 Support Level

Bitcoin closed last week on a bullish note but has since triggered a descending trend, breaking below $42k support. Massive long liquidations could be exacerbating the drop - will prices fall further?

Sjuul Follings

The breakdown of Bitcoin's key $42k support level has triggered a wider correction with potential for further downside. However, such pullbacks also offer savvy traders opportunities to accumulate. Oversold signals and liquidity improvements point to relief potential overall. Risk management will be paramount amid ongoing volatility. But with macro factors remaining neutral, the longer-term prospect of renewed upside beyond current ranges still looks favorable on lengthening timeframes.

Solana NFTs Surge Past Ethereum in Volume - But Why?

Solana network non-fungible tokens recently saw over $14.8 million in trading volume, surpassing Ethereum's $13.9 million. Projects like Tensorians and Mad Lads are driving this growth with big price increases.

Sjuul Follings

Solana is demonstrating it can compete and even outpace Ethereum in key metrics like NFT trading volumes. Major projects and catalysts on its blockchain continue to attract a growing user base. As long as momentum remains strong, Solana appears poised to increasingly challenge Ethereum's dominance across the crypto market.

Nonco Secures $10 Million Seed Funding

Nonco, a digital asset brokerage firm focused on Latin America, has raised $10 million in seed funding to expand services and capture regional crypto adoption.

Sjuul Follings

Nonco is well-positioned to scale its operations across Latin America and meet growing regional demand as cryptocurrency adoption and trading volumes continue climbing in emerging markets. The startup has garnered strong investor backing to support an experienced leadership team focused on the LatAm opportunity.

El Salvador's Innovative Citizenship-by-Investment Program

El Salvador introduces a new citizenship-by-investment program requiring a $1 million investment in Bitcoin or USDT, offering residency and a path to citizenship.

Sjuul Follings

El Salvador introduces a citizenship-by-investment program, requiring a $1 million investment in Bitcoin or USDT. This initiative offers residency, a path to citizenship, and aims to generate substantial revenue, further solidifying the country’s position in the global cryptocurrency landscape.

Binance Retracts UAE License Application in Strategic Shift

Binance CEO Changpeng Zhao cancels UAE crypto license application, focusing on global licensing strategy and following the company's recent settlement in the United States.

Sjuul Follings

Binance CEO Changpeng Zhao cancels the UAE crypto license application amid company restructuring and following a significant legal settlement in the United States. This decision aligns with Binance's revised global licensing strategy while maintaining its commitment to regulatory compliance and expansion in the Middle East.

StarkNet Unveils 1.8 Billion STRK Token Drop For Community Growth.

The StarkNet Foundation has unveiled plans to distribute 1.8 billion STRK tokens through user rebates and a Provisions' Committee to drive adoption of the StarkNet blockchain.

Sjuul Follings

The StarkNet Foundation's planned 1.8 billion STRK token allocation demonstrates a strong community-centric approach. Involving users, contributors and the DeFi ecosystem can accelerate mainstream adoption of StarkNet.

Safe Launches Recovery Hub with Sygnum, CoinCover

Safe wallet infrastructure provider Safe has partnered with Sygnum Bank and CoinCover to launch a new crypto recovery service called Safe Recovery Hub.

Sjuul Follings

Safe, a leading crypto wallet provider, has partnered with Sygnum Bank and crypto recovery specialist Coincover to launch an optional crypto recovery hub. The hub will provide Safe wallet users access to a range of compliant recovery options for lost or inaccessible digital assets, including social and institutional partners, always maintaining user control.

ETH and SOL Surge to Fresh Highs as Bitcoin Stalls

Ethereum and Solana prices rallied over 5% and 8% respectively to new 2023 peaks. But Bitcoin stalled at $43K, sparking uncertainty over the strength of the crypto uptrend amid lingering 'bull trap' worries.

Sjuul Follings

While Ether and Solana hit fresh yearly highs this week, gaining over 5% and 8% respectively, Bitcoin struggled at $43,000. Its failure to push past short-term resistance has brought into question the momentum of the recent rally. Traders now focus on whether Bitcoin can close above $43K to reinforce the budding upside.

Binance CEO CZ Must Stay in the US for Money Laundering Sentencing

A federal judge has ruled that Binance founder Changpeng Zhao must stay in the US pending his February 2024’s sentencing for money laundering charges.

Sjuul Follings

The court's decision to overturn the previous ruling signals that judges are taking allegations of money laundering in the cryptocurrency industry very seriously. It remains to be seen what sentence CZ ultimately receives when he appears for judgment in early 2024.

Binance CEO Challenges JPMorgan Chief’s Anti-Crypto Stance

Binance CEO responds to JPMorgan Chief’s negative stance on crypto, highlighting the lesser extent of illegal activities in crypto compared to fiat currencies.

Sjuul Follings

Binance CEO defends cryptocurrencies against JPMorgan CEO Jamie Dimon's critique, emphasizing the comparatively lower extent of illegal activities in crypto versus fiat currencies. Amidst this debate, concerns about Binance's compliance and future stability have been raised by a former SEC official.

Proposed Solution to End Bitcoin Ordinals Exploitation

Discover how a proposed patch by a Bitcoin Core developer could resolve the exploitation of a data size limit bug in the Bitcoin network, impacting Bitcoin Ordinals and BRC-20 tokens.

Sjuul Follings

A Bitcoin Core developer has suggested a patch to address a bug that allows the exploitation of data size limits in the Bitcoin network. This resolution could impact the future of Bitcoin Ordinals and BRC-20 tokens, with the upcoming v27 release of Bitcoin Core anticipated to bring further clarity.

UAE Innovators Launch Sleek Blockchain for Carbon Trade

Researchers at the Technology Innovation Institute in Abu Dhabi have launched a new lightweight blockchain to facilitate carbon trading and track emissions worldwide.

Sjuul Follings

The new carbon trading blockchain launched by UAE researchers demonstrates the potential of distributed ledger technology to transform emissions accounting and markets. If refined and widely adopted, platforms like this could significantly help accelerate progress on global climate goals through transparent, incentivized action. The ability to record and trade carbon credits across borders in a standardized, verified way may prove a game-changing application of the technology.