Crypto news

A federal judge in New York has denied Ripple Labs’ motion to order the U.S. Securities and Exchange Commission (SEC) to produce records of its employees’ crypto transactions in an effort to prove that the agency did not consider XRP to be a security. The SEC Wins One Against Ripple According to an official transcript, Ripple filed the request on August 27. Their rationale for the request was that if it were discovered that the SEC employees had traded XRP, it would at a...

Sam Bankman-Fried – CEO of the cryptocurrency exchange FTX – opined that the 17-hour network outage which Solana (SOL) experienced last week was due to its rapid growth. He also said stablecoins are an essential part of the ecosystem and urged the US regulators not to ban them. Solana Was Down Because It Grows Too Quickly In a recent interview for Bloomberg, the Founder and CEO of FTX – Sam Bankman-Fried – shared his stance on hot topics such as Solana’s disruption and...

According to a recent study conducted by Bloomberg, the amount of energy used for crypto and bitcoin mining purposes in 2021 already outdoes all the energy used in 2020, and we’re not even three quarters of the way through the year. Crypto Mining Is Using a Lot of Electricity Some environmentalists are taking this as a bad sign. It suggests that people are not only mining more but may be increasing the carbon footprint that already stems from the mining industry. So far...

Fidelity Digital Assets – the cryptocurrency division of Fidelity Investments – has recently sent representatives of the firm to secretly meet with agents of the Securities and Exchange Commission (SEC) as a means of pushing its new crypto-based exchange-traded fund (ETF) further along the way. Fidelity Wants the SEC to Move Quickly Fidelity believes that the cryptocurrency industry is now large enough to push such a product, which has been making its way across SEC...

David Ignatius of the Washington Post interviewed SEC chair, Gary Gensler, on the cryptocurrency landscape, where the latter provided his approach to regulating the digital asset industry. Gensler expresses optimism for the possibilities crypto provides for enhancing finance, but he also believes that most of the space should fall under regulatory supervision – including stablecoins. At the start of the interview, Gensler commented on the recent market crash in the market of...

The number of full nodes in the Utopia P2P ecosystem has passed the 30,000 mark.This means that more than 30,000 nodes are working for the security and resilience of the network. Stability The number of full nodes within the Utopia decentralized ecosystem has reached 30,000 and is moving forward. This number is an indicator of the stability of internal processes and a guarantor of reliability. Nodes in the blockchain have one of the most important roles – they are...

In the past, Ray Dalio – a billionaire investor that started the world’s largest hedge fund – has stated that the governments of the world could potentially try to ban or take one’s bitcoin units if the asset was to be successful enough. Ray Dalio Warns Crypto Fans of Possible Government Action Now, his warning has become even more dire, with Dalio saying that governments everywhere could potentially just try to “kill” bitcoin if it goes much further. He commented that...

SOL/USD – SOL Heading Lower Inside Descending Price Channel. Key Support Levels: $130, $123, $121.Key Resistance Levels: $150, $160, $180. SOL is down a sharp 18.5% this week as it continues to trend lower inside a descending price channel. It managed to set a new ATH price in the first week of September at $216. Since then, SOL rolled over to form the falling price channel. On Saturday, the cryptocurrency attempted to break the upper angle of the price channel but failed to...

ADA/USD – Buyers Battle To Defend $2 Key Support Levels: $2.05, $2.00, $1.88.Key Resistance Levels: $2.21, $2.33, $2.40. ADA managed to find support at $2 today as it rebounded from the .618 Fib level. The cryptocurrency is still down 10% over the week, $2 is looking to be a promising threshold for the bulls. The cryptocurrency developed strong support at $2.40 last week but fell beneath it over the weekend. During the market capitulation yesterday, ADA dropped below the...

The team behind Solana yesterday gave a detailed report on how its validators from all over the world rescued the network from an outage that lasted nearly 18 hours. IDO Bots Responsible for Solana’s Downtime According to the report, the network outage was a result of Grape Protocol’s IDO, which launched on the Raydium exchange in the early hours of September 14th. While trying to manipulate the rules of the IDO, several traders used bots to generate limitless transactions,...