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US SEC Denies Commonality Of Ripple Ruling In Terra Case According to a filing in the District Court for the Southern District of New York on July 21, the US SEC contradicts Judge Analisa Torres’ summary judgment ruling in the Ripple lawsuit. Moreover, SEC will appeal against the court’s ruling that XRP is a security, denying its relevance in Terraform and Do Kwon lawsuit. advertisement SEC argues that institutional sales support the SEC’s arguments and programmatic sales decision is incorrect and should not be followed by the court. In addition, it reasons that the ruling can’t be squared with Howey and decades of federal securities laws jurisprudence. “Those portions of Ripple were wrongly decided, and this Court should not follow them. SEC staff is considering the various available avenues for further review and intends to recommend that the SEC seek such review.” Terra and Do Kwon lawyers filed a supplemental authority thi...

The Solana Foundation reported 100% uptime since February, a significant improvement compared to last year’s outages. According to the performance report released on July 20, Solana improved uptime and the ratio of voting-to-non-voting transactions. Since Feb. 25, the network has achieved 100% uptime, marking a quarter without outages. This is a significant improvement from a single outage in February that knocked the network offline for nearly 20 hours. Solana network’s monthly uptime for H1, 2023 | Source: Solana In the past years, Solana has been grappling with issues concerning reliability and uptime, leading its co-founder, Anatoly Yakovenko, to refer to the network’s uptime issues as a “curse,” attributing them to its low-cost transactions. You might also like: Buterin criticizes US crypto policy’s detrimental impact on projects like Solana The latest report further highlights advancements in the ratio of voting to non-voting transactions. Vo...

Also Read: Britain Denies Calling Crypto As Gambling advertisement Mike Novogratz Targets SEC Over Crypto Rules Galaxy Digital CEO and billionaire investor Mike Novogratz in an interview stated that XRP being ruled as not a security is a big win for Ripple and a major win for the crypto community. He added that this development shouldn’t go in vain and not let Gary Gensler put lipstick on a pig. He stated Ripple’s decision sent out a message to the Democrats, Gray Gensler, and the White House to bring fair rules for the crypto industry. Novogratz mentioned that the court decision gave a clear message that it refutes the very clear lie of Gensler of fair existing rules for the industry. However, this area is very complex and the industry needs legislation to clarify this and this is what the judge hinted. According to Novogratz, the current status of the US SEC isn’t going to work as making an appeal against the XRP lawsuit ruling will t...

The U.S. Senate is again preparing to tackle crypto industry regulation through a new bill. The proposed Crypto-Asset National Security Enhancement Act of 2023, backed by bipartisan support, aims to enforce strict anti-money laundering (AML) measures on decentralized finance (DeFi) protocols , mandating them to adopt banking-like controls for their users. Regulating DeFi DeFi protocols , the decentralized applications enabling users to engage in crypto borrowing, lending, and trading through smart contracts, present a unique regulatory challenge due to their operation on permissionless blockchains.  However, the proposed bill released on July 18 addresses these concerns by imposing obligations on those who exert control over DeFi protocols or offer user-friendly interfaces for their complex smart contracts, akin to Uniswap Labs facilitating Ethereum’s primary decentralized exchange. You might also like: Dormant whale awakens after 8 years, moves over $116 milli...

DexCheck (DCK) enters the reputed KuCoin Spot trading platform. Trading activities will officially commence at 12:00 PM UTC on July 20, 2023. DexCheck’s AI-boosted analytics platform offers real-time insights into crypto and NFT markets. DexCheck (DCK) has entered the KuCoin Spot trading platform, marking a significant milestone for the project. This latest listing on KuCoin is expected to allow DexCheck to showcase its innovative capabilities to a broader audience of crypto enthusiasts. World Premiere New Listing@DexCheck_io $DCK Gets Listed on #KuCoin! Pair: DCK/USDT Deposit: now open (network: BEP20) Trading: 12:00 PM on July 20, 2023 (UTC) — KuCoin (@kucoincom) July 19, 2023 According to an official statement from KuCoin, users can immediately deposit DCK tokens on the KuCoin platform, utilizing the BEP20 network. Trading activities will officially kick off at 12:00 PM UTC on July 20, 2023. To ensure a seamless experience for trader...

According to the SHIB-focused Twitter page, “SHIB Bezos,” Shiba Inu’s upcoming layer-2 network will burn 5 trillion tokens each month. SHIB’s current burn mechanism has been slowly burning away SHIB’s circulating supply. However, given the project’s massive supply, the burn rate has had little effect on the asset’s price. $SHIB BREAKING NEWS 5 Trillion Monthly Burns Projected as Shiba Inu Team Unveils How Shibarium Will Increase SHIB Burns#Shibarium 🟰 $SHIB Millionaires 2023 Will Be The Start of $SHIB Epic Bull Run‼️ Retweet If U Think #Shibarium Will Push $SHIB To $1~$10‼️#SHIBARMYSTRONG pic.twitter.com/z0Xd9cvnc2 — SHIB Bezos (@BezosCrypto) July 17, 2023 Also Read: Shiba Inu: Addressing If Shibarium Will Launch in August According to rumors, Shiba Inu’s upcoming layer-2 network will introduce a never-before-seen burn mechanism. However, there is no official word on what the new bur...

While industry giants like Binance hire and lay off thousands of people, other crypto heavy-weights like Tether currently only have 60 employees. Despite several high-profile cryptocurrency implosions , the number of people working in the industry has soared over the past four years. According to findings by the crypto research startup K33, the number of crypto-related employees has surged nearly 160% since 2019. In a report titled “The Emerging Crypto Industry,” K33 estimated that the total headcount of people working in crypto as of 2023 amounted to nearly 190,000 persons. The estimations also suggested that the number of such professionals stood at just around 73,000 people in 2019. According to the data, the crypto industry peaked in terms of total staff numbers in 2021 at more than 211,000 professionals. The growth came alongside Bitcoin’s (BTC) all-time high price of $68,000 that was recorded in November 2021. Cryptocurrency employment by years. Source: K33 Although crypto-focu...

Jul 17, 2023 at 09:31 // Price Author Coin Idol This week the various cryptocurrencies resumed their sideways trend. eCash, Bitcoin SV, Monero, KuCoin and Maker weekly price Analysis from Coinidol.com. The inability of buyers to break through resistance levels has led to a sideways trend. As a result of the range bound movement, other alt coins have experienced additional selling pressure. Cryptocurrency analyst at Coinidol.com goes over each of these coins briefly. eCash  eCash (XEC) Price Moves Sideways. After retesting the previous high of $0.00004, ...

SNX saw its price drop more than 3% over the past couple of hours to trade at $2.73 at press time. The altcoin’s daily performance remained in the green at more than 2%. Technicals suggested that SNX’s price may rebound in the coming few hours and reclaim the $2.687 support. The price of Synthetix (SNX) dropped a fair amount from its daily high of $2.90 over the past few hours according to CoinMarketCap. As a result, the crypto was trading hands at $2.73 at press time, which was an estimated hourly drop of 3.05%. Despite this latest drop in SNX’s price, the altcoin was still up more than 2% over the past 24 hours. SNX’s positive performance against the two market leaders Bitcoin (BTC) and Ethereum (ETH) remained intact as well. At press time, the crypto was up 2.49% against BTC and was up more than 3% against the largest altcoin by market cap, ETH. As a result, 1 SNX was worth 0.00009029 BTC and 0.001418 ETH. If this sell off continues, SNX may be at risk...

Larry Fink states that global investors are increasingly eager to add crypto assets to their portfolios. BlackRock CEO Larry Fink has delivered fresh remarks supporting cryptocurrencies' role in democratizing investing worldwide, pointing to growing interest among the company's clients in digital assets. "More and more of our global investors are asking us about crypto,” Fink said during an interview with CNBC's 'Squawk on the Street' on July 14. BlackRock is the world's largest asset manager, with over $8 trillion in assets spanning all types of investment products. In Fink's view, cryptocurrencies have a "differentiating value versus other asset classes" in helping diversify portfolios. "[...] It’s so international it’s going to transcend any one currency,” noted the executive. BlackRock's Larry Fink on the 'Squawk on the Street'. Source: CNBC Despite Fink's pro-crypto remarks during the interview, he declined to co...

Cardano founder Charles Hoskinson believes that Algorand should become a Cardano sidechain. Hoskinson offered to help Algorand CTO John Woods with his blockchain’s transition. The Cardano founder previously named Algorand as one of his favorite crypto projects. Cardano founder Charles Hoskinson believes that fellow blockchain network Algorand should become a sidechain of Cardano. Hoskinson’s comment came in response to a video by Algorand’s chief technology officer (CTO), John Woods. Woods took to Twitter recently to talk about staking on Algorand and the network’s future roadmap. John Woods told his followers about Algorand’s proof of stake consensus mechanism and described its superior characteristics. In the video, Woods advised users who chose to participate in Algorand staking not run a staking node with more than 50 million ALGO tokens on it. He also asked stakers not to centralize more than 20% of their ALGO on a single machine. Charles Hoskinson r...

Roham Gharegozlou, the CEO of NFT company Dapper Labs, announced 51 colleagues’ departure amid the second layoff round within a year.  Dapper Labs CEO announced that both full-time employees and contractors were fired. Gharegozlou emphasized that layoffs are necessary to ensure the company’s long-term success. We said goodbye to 51 brilliant colleagues and friends today @dapperlabs – this is the note I sent our team. We remain fully dedicated to our core communities and committed to building amazing products that push the world forward together. If you're looking to hire some of the… pic.twitter.com/xwhjZAYLN8 — roham (@roham) July 13, 2023 Gharegozlou also offered to help as a reference for future endeavors. He encouraged entrepreneurship among departing team members, expressing a genuine interest in their potential startup ventures. Dapper Labs also announced the upcoming meeting where the team will review their priorities. You might also like: Ge...

Vanguard Group, a financial manager controlling assets worth over $7.2 trillion , is buying more stocks from leading bitcoin mining companies per recent filings with the Securities and Exchange Commission (SEC). Per public data, Vanguard has been increasing its exposure to stocks from some of the United States’ top Bitcoin miners, specifically Marathon Digital and Riot Blockchain. Vanguard increases exposure to bitcoin mining stocks Records show that Vanguard holds 17.5 million shares of Marathon Digital worth $280.5 million. At the same time, it owns 17.9 million of Riot Blockchain shares worth $281 million based on recent share prices. The shares of these miners are listed on leading bourses in the United States. Based on this, Vanguard currently owns over $500 million worth of Bitcoin mining stock. Most importantly, their investment represents a notable shift in strategy following earlier skepticism on crypto’s investment potential. For investors, Vanguard...

Its peers, the likes of Bitcoin and Ethereum, are up 0.5% and 0.3%, respectively, on the day the U.S. Consumer Price Index (CPI) data comes out. The Federal Reserve depends on the CPI and other economic indicators to gauge the level of inflation and adjust monetary policy accordingly. advertisement If the CPI drops to the expected 3% range, risk assets like BTC, ETH, XRP, and stocks may finally acquire enough momentum to resume paused rallies as investors’ risk appetite increases. The situation could be slightly more worrying for XRP price, especially after LBRY lost the lawsuit against the Securities and Exchange Commission ( SEC ). Is An XRP Price Breakout In The Offing? XRP is on the verge of a bullish breakout targeting highs around $0.55 in the short term. The presence of a bull flag pattern on the daily chart implies that with a minor push above the short-term hurdle at $0.48, XRP price could validate the uptick. Recommended Articl...

Aave has launched a Governance Proposal to launch its decentralized stablecoin GHO on the Ethereum Mainnet. If approved, users will be able to mint GHO using their collateral. At press time, AAVE was trading at $71.46 after a price increase of 1.30%. Aave published a Governance Proposal yesterday to launch its decentralized stablecoin GHO on Ethereum Mainnet. In the proposal, the team suggested that GHO be introduced to Ethereum through the Aave V3 Facilitator and FlashMinter Facilitator. Aave has launched a Governance Proposal to launch its decentralized stablecoin GHO on mainnet, which aims to introduce GHO to the Ethereum through the Aave V3 Facilitator and FlashMinter Facilitator. If the vote passes, Aave V3 users on Ethereum will be able to use collateral to… — Wu Blockchain (@WuBlockchain) July 11, 2023 The Aave V3 Ethereum Pool Facilitator would allow depositors to borrow GHO against their collateral which is deposited in the V3 Ethereum Mai...