Crypto news

The Californian Department of Financial Protection And Innovation (DFPI) issued cease and desist orders against five companies profiting from the hype around AI to attempt to dupe gullible investors. All Hype, Little Info According to the regulator, all five companies violate securities law by offering unregistered securities to the public. Scammers like to deceive investors by using phony CEOs, sham algorithms, & Ponzi schemes. Today, we’ve issued desist and refrain...

The crypto community has left no stone unturned in lambasting the US Securities and Exchange Commission (SEC) and, more importantly, its Chief Gary Gensler. The latter’s actions were dissented by members of his own agency. Gensler even received political pushback for his actions. But the SEC boss continued to defend the crackdown on digital assets markets, saying he had never seen an industry so routinely break securities laws. SEC Approach of Regulation by Enforcement As...

Could the US dollar lose its status as the global reserve currency? BitMEX co-founder Arthur Hayes doesn’t rule out the possibility and believes it’s a question worth considering for those looking to preserve their wealth.  The former exchange CEO published an essay on Thursday exploring the economics and role of the dollar worldwide, and how its shrinking role could affect global crypto adoption.  US Dollar Dominance and Decline In the essay titled “Exit Liquidity,” Hayes...

Silicon Valley Bank is in the process of filing bankruptcy, bringing back rough memories of the FTX debacle five months ago. However, the effects appear to be the opposite of what they were back in November. During that time, bitcoin and its altcoin cousins fell to new lows, whereas this time around, bitcoin and several of its counterparts appear to be surging like crazy. Silicon Valley Dips While BTC Rises At the time of writing, BTC – the world’s number one...

According to on-chain sleuth Zachxbt, the official Twitter account of the Solana-based decentralized finance project Serum, which had over 200,000 followers, has been renamed ‘Luka.’ The original Serum account is speculated to have been sold to a different user since all the previous tweets have been deleted. Sharing a screenshot of the account, ZachXBT revealed that its PFP avatar was replaced with Milady NFT and was used for promoting “shitcoins.” For the uninitiated, Serum...

Nevada Attorney General Aaron Ford has sworn to protect all residents of his state from crypto scams, and he’s putting out notices to everyone to tell them what they can do to avoid becoming victims. Aaron Ford Vows to Protect People of His State In a recent statement, Ford commented: The safety of Nevada consumers is a top priority at my office. As technology becomes an increasingly integral part of our lives, scams involving digital currency are becoming more...

Abu Dhabi’s crypto and blockchain businesses are expected to grow exponentially and attract international investors, more so from the United States. The registration authority of Abu Dhabi Global Market (ADGM) has issued a consultation paper seeking feedback on its proposed new framework for distributed ledger technology (DLT) market and token issuance. The regulatory authority has set Friday, May 12 as the deadline for providing feedback on the proposed legal framework. Afterward, the...

According to the CEO of the consumer goods mainstay, Procter & Gamble retains the right strategies to deliver balanced growth. On Friday, April 21, Procter & Gamble (NYSE: PG) reported its fiscal Q3 2023 earnings, which showed the company beat estimates. The multinational consumer goods corporation’s quarterly earnings and revenue came in better than expected, with higher prices counterbalancing lower demand for its products. Following this commendable performance, P&G raised...

Last week was significantly more eventful within and outside the cryptocurrency industry, with the CPI numbers showing declining inflation rates in the States, while Ethereum underwent its most notable upgrade since the Merge. Consequently, the entire market reacted positively, with BTC spiking to $31,000 to chart a 10-month peak, while ETH skyrocketed to above $2,100 and painted its highest price point in 11 months. This week began with less volatility, but the landscape...

For the Twitter Blue subscription, only individuals retain the Blue Check while organizations that subscribed to the service will be given a yellow tick. Yesterday was a historic day for American multinational micro-messaging platform Twitter Inc as it striped its previously verified users of their Blue check marks. While the move has been tagged by many critics as a rude and dangerous precedent to set, the removal of the Blue Checks has been lauded by proponents in one of the hottest...