Tag Archives: AA News

The diminishing interest in NFTs and the plunge in trading volumes have severely affected the soccer star – Neymar Jr. – and the renowned rapper – Eminem in terms of their digital art purchases. At the beginning of the year, the Brazilian athlete purchased two digital collectibles part of the Bored Ape Yacht Club for over $1 million, while their current valuation is around $340,000. Eminem’s paper losses as of the moment are approximately $330,000. More Celebrities Affected...

Grayscale stated that the SEC’s application of its “significant market test” is deeply flawed and does not protect investors against potential fraud and manipulation in the underlying BTC markets. The SEC is notorious for turning down dozens of spot Bitcoin ETF applications over the past several years from major players including WisdomTree and Ark21Shares. Grayscale, for one, has taken the legal route to resolve the matter. It has argued that the regulator acted outside its...

At an event for DC Fintech Week on Tuesday, the CEO of Ripple Labs, Brad Garlinghouse, noted that he expects the court to give its verdict on the case in the first half of 2023.  “I think we’ll have an answer in the first half of next year. Whether that’s the first quarter or second quarter, we shall see,” he said.  The Lawsuit Recall that the SEC officially sued Ripple in December 2020 over an alleged violation of securities laws. The regulator claims that the blockchain...

The Bitcoin price has been relatively stagnant in the past few days, hovering around $19,000 without much movement. This might all be about to change soon as whales appear to have sent a huge amount of BTC to spot exchanges. Data from the popular cryptocurrency analytics resource CryptoQuant reveals that the inflows to spot exchanges have soared. This comes mainly from whale addresses holding between 100 and 1000 BTC, who have been sending BTC to exchanges in large...

Cryptocurrencies are supposed to be censorship resistant… Cryptocurrency exchanges, not so much. Bittrex found this out the hard way after a record fine imposed by the U.S. regulators. On October 11, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) announced that Bittrex, a Washington-based cryptocurrency exchange, will be fined $53 million for violating multiple securities laws. According to...

Scammers have reportedly sent consumers a new Solana Phantom security update assuring it will grant additional protection. However, wrongdoers have installed password-stealing malware through airdropped NFTs and used them to drain cryptocurrency from the affected wallets. Another Scam in the Space A recent coverage revealed that the scheme started two weeks ago when NFTs called “PHANTOMUPDATE.COM” or “UPDATEPHANTOM.COM” reached some Phantom users. Upon opening, they were...

Legendary billionaire hedge fund manager Paul Tudor Jones revealed that he still holds a small portion of bitcoin while stating that the U.S. economy might be going into recession or already is in one. Tudor Jones also said the value of assets such as ETH and BTC could increase amid inflation and excessive fiscal spending. Jones Remains Optimistic About Bitcoin In a CNBC interview on Monday (October 10, 2022), Jones stated that there has been a “massive experimentation with...

Yuga Labs – the team behind the popular Bored Ape Yacht Club (BAYC) NFT collection – is now under investigation by the Securities and Exchange Commission (SEC). The commission is examining whether the company violated securities laws by issuing certain NFTs, or through their newly launched crypto token ApeCoin.  SEC Versus NFTs A person unfamiliar with the matter told Bloomberg that the SEC seeks to find out whether some of the firm’s NFT more closely resemble stocks, and if...

San Francisco-based blockchain firm, Ripple, announced its first On-Demand Liquidity (ODL) customers in France and Sweden. According to the company, the European market is ripe for disruption with RippleNet-powered ODL. The main aim of the partnerships is to facilitate real-time payments across borders utilizing by Ripple’s financial technology – RippleNet – across the two regions. Ripple’s New Partners in France and Sweden As part of the deal in France, Ripple inked a...

QANplatform – a quantum-resistant layer 1 blockchain – lost $1 million to a hacker who targeted the network’s blockchain bridge. Since the attack, its native QANX token has suffered a price collapse of over 90%.  The Latest Bridge Attack At 05:01 EST on Tuesday, QANplatform tweeted that its smart contract bridge had been hacked and that the attacker had already withdrawn tokens. Etherscan data appears to reinforce this, displaying two bulk withdrawals from the bridge at 08:17...