cryptocurrency

Impersonators Take Advantage as the Trumps Delay Crypto Reveal
04 Sep

Impersonators Take Advantage as the Trumps Delay Crypto Reveal

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Impersonators have descended on a soon-to-be-announced crypto venture tied to presidential candidate Donald Trump and his family, capitalizing on gaps in information about the project to promote inauthentic crypto tokens.Led by Eric Trump and Donald Trump Jr., the sons of the former president, the Trumps have embarked on a campaign to promote an upcoming project—called World Liberty Financial—on social media. For the best part of a month, the family has teased the launch in cryptic posts that offer little detail.In an X post on August 6, Eric wrote that he had “truly fallen in love with crypto.” The following day,…
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‘Should Art Be Regulated by the SEC?’: NFT Artists’ New Lawsuit Seeks Answers
26 Aug

‘Should Art Be Regulated by the SEC?’: NFT Artists’ New Lawsuit Seeks Answers

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The essence of the case, Frye adds, is about NFT art writ large and “using NFTs the way most people are—to sell them.” The point is to get SEC regulators to have a “long, hard think” about what’s in their purview, he says.Security vs. ArtIn 1946, a US Supreme Court ruling about the Howey Company, which sold citrus groves to buyers who shared in their profits, cemented the test for determining what a security is. The “Howey Test” defines securities as “an investment of money in a common enterprise with the expectation of profits from the efforts of others.”In other…
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Crypto’s Shiny New Political Machine
23 Aug

Crypto’s Shiny New Political Machine

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Amongst the sea of American flags and ubiquitous blue signs at the Democratic National Convention in Chicago this week prowled Jonathan Padilla, the “crypto guy.”Wearing a baseball cap and conspicuous pineapple-print shirt, Padilla tramped the halls of the convention, talking crypto policy with anyone who would listen. In a selfie posted on Facebook, he posed with his arm around Senator Chris Coons of Delaware. “Senator Coons now knows about crypto,” reads the caption.Padilla is delighted with his new “crypto guy” moniker, assigned by fellow DNC delegates, which he sees as implicit recognition that cryptocurrency has arrived on the political agenda.…
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Tether Was Playing a Risky Game, a New Celsius Suit Reveals
15 Aug

Tether Was Playing a Risky Game, a New Celsius Suit Reveals

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“Ensuring that a stablecoin retains its peg even under stressed market conditions is a solvable problem,” Catalini says. In an optimal scenario, he says, reserves would be made up of exclusively “high-quality, liquid assets,” like short-term US government bonds, and providers would maintain an “adequate capital buffer.”In the two years since Celsius filed for bankruptcy, Tether has voluntarily both increased the size of its USDT reserve buffer and slightly reduced the proportion of the reserve made up of secured loans—from 6.76 to 5.55 percent. But Tether “does not operate under a framework that would limit what the directors of the…
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Coinbase Returns to Hawaii Seven Years After Exiting Market
13 Aug

Coinbase Returns to Hawaii Seven Years After Exiting Market

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After a seven-year absence, Coinbase Global Inc. said it will resume offering crypto services to residents of Hawaii, the only state where it didn’t operate. The biggest US digital-asset exchange credited changes in local regulatory guidance with its decision to return to the Aloha State, which is home to about 1.4 million people. Hawaiians will now be able to trade cryptocurrencies and earn interest on their holdings through staking, a process where tokens are used to facilitate blockchain transactions, the San Francisco-based company said in a blog post Tuesday. Source link lol
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Meta Faces Legal Challenge From Polish Billionaire Over Fake Ads
13 Aug

Meta Faces Legal Challenge From Polish Billionaire Over Fake Ads

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Polish billionaire Rafal Brzoska won an injunction temporarily banning Meta Platforms Inc. from publishing fake ads that use images of him or his wife Omena Mensah in Poland. Brzoska, the founder and chief executive officer of Amsterdam-listed InPost SA parcel locker company, said in an interview that the Polish Personal Data Protection Office’s three-month ban announced last week on ads that use images of him or his wife to lure people into fraudulent investment platforms was only the beginning. Source link lol
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Flush With Cash, Tether Has Got Microsoft, Google, and Amazon in Its Crosshairs
12 Aug

Flush With Cash, Tether Has Got Microsoft, Google, and Amazon in Its Crosshairs

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WIRED: This year, Tether has moved to diversify its business model with a push into venture capital. Tell me about the rationale.Ardoino: Tether has become extremely profitable in the last two years thanks to the increase in interest rates. When Tether started, you could make 0.2 percent on the reserve, but today you can make 5.5 percent. Of course, that might be time-limited—we are hearing about potential rate cuts—but it’s very hard even with inflation at 3 or 4 percent to go back to the 0.2 percent scenario.In the last 24 months, Tether has accrued around $11.9 billion profit. With…
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Coinbase Shares Gain After Court Limits SEC Award in Ripple Case
08 Aug

Coinbase Shares Gain After Court Limits SEC Award in Ripple Case

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Coinbase Inc. shares rose after a federal court ruled that Ripple Labs Inc. pay a fraction of what the US Securities and Exchange Commission sought in a civil suit, a decision that bodes well for the biggest US crypto exchange’s case with the agency.Coinbase’s shares are up about 7% to around $191 on Thursday, a day after the court said that Ripple had to pay a penalty of $125 million. The SEC sued for almost $2 billion to punish Ripple for raising money without registering its token as a security in 2020. Source link lol
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Trump Suggests Avoiding Google in Interview With Gamer Adin Ross
05 Aug

Trump Suggests Avoiding Google in Interview With Gamer Adin Ross

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Republican nominee Donald Trump called for his supporters to stop using Alphabet Inc.’s Google, calling the search engine “illegitimate” as he doubled down on his criticisms of large technology companies.“Something’s wrong with Google,” Trump said in an interview with controversial video-game celebrity Adin Ross on Monday. “Everybody should maybe just go off Google, not use it.” Source link lol
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