SBF’s lawyers have reportedly reached a new bail agreement with United States prosecutors, allowing him to stay at home while restricting him from using some electronic devices and apps.Continue Reading on Coin Telegraph More
The U.S. agency sued Binance, the world’s largest crypto exchange, on Monday.”This seemed to be a pretty clear case of evasion and something that we needed to step in aggressively with and do it as quickly as possible because this was an ongoing fraud – going back to 2019 – and ongoing violation of the Commodity Exchange Act,” CFTC Chairman Rostin Behnam said in an interview with CNBC.Behnam said Binance was a common enterprise comprised of dozens and dozens of entities scattered across the globe.”Not having a headquarters, not having a location is not going to prevent the CFTC from coming after you,” he said.Benham said it was clear that control of the enterprise came from Binance CEO Changpeng Zhao and there was clear documentation of an intent to evade the law.”So we’re going to vigorously continue and fight this case in court,” he told the CFTC. More
The blockchain analysis firm Santiment (@santimentfeed) tweeted yesterday that social dominance for Ripple (XRP) is at its highest point in a year. The tweet added that this spike in Ripple’s social dominance came after the remittance token’s price comfortably broke above $0.49 for the first time since 6 November 2022.
XRP’s social dominance (Source: Santiment)Santiment’s tweet did warn, however, that this additional crowd recognition for XRP may result in more volatile price swings for the altcoin due to increased trading volume and growing mainstream interest.At press time, XRP’s price is up 4.76% over the last 24 hours according to CoinMarketCap. This has added to the altcoin’s impressive weekly price performance which currently stands at +25.44%. As a result, XRP is currently changing hands at $0.4854.XRP has also made its way onto CoinMarketCap’s trending list and occupies the number 2 spot currently. Meanwhile, the altcoin’s 24-hour gain is an outlier in the market given that the total crypto market cap fell by 2.22% in the last 24 hours. This has brought the global crypto market cap down to around $1.13 trillion.Almost all of the top 10 cryptos in terms of market cap posted losses over the last 24 hours. This is also true for the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), which saw their prices drop by 3.02% and 1.54% respectively. As a result, BTC’s price stands at $26,978.84 and ETH is trading at $1,725.73 at press time.The only other crypto in the top 10 list which saw its price increase in the last 24 hours is Cardano (ADA), which is currently up 0.26% to trade at $0.3496.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Recent Data Shows XRP’s Social Dominance Shines at Yearly High appeared first on Coin Edition.See original on CoinEdition More
On March 27, United States District Judge Larry Alan Burns passed a ruling concerning the class-action lawsuit against bZx DAO and others. While the ruling seemed normal on the surface, Web3 lawyers spotted a significant development for decentralized autonomous organizations (DAOs). Continue Reading on Coin Telegraph More
OTTAWA (Reuters) -Canadian Finance Minister Chrystia Freeland on Tuesday will present this year’s budget, which will have a major focus on scaling up investment in clean technology and will include investments in healthcare and help for low-income households.Countries across the globe are vying for a portion of the low-carbon economy of the future. In Canada, there’s more pressure to step up green investments to level the playing field with the United States, which passed a series of massive incentives in the Inflation Reduction Act (IRA) last year.Last week Freeland said Canada is at a “crucial crossroads” for the green transition and that it would be “reckless” not to make major investments in clean tech. But she has also said she does not want to fuel inflation and slowing growth means fiscal responsibility is warranted.”Of course the federal government needs to better position Canada to compete with the U.S. for investment in the energy transition,” said Randall Bartlett, senior director of Canadian economics at Desjardins, in a note. “But it can’t break the bank to do it.”Freeland will deposit the document to parliament at around 4 p.m. ET (2000 GMT). Prime Minister Justin Trudeau, who has set a target for net-zero carbon emissions by 2050, has made fighting climate change a cornerstone of his leadership. But analysts have warned that too much government investment can add to price pressure just as the central bank is still trying to get inflation back to its target range following eight interest rate hikes over the past year.”In a year in which the central bank is still applying high interest rates to contain growth, fiscal policy should not add stimulus that would only be countered by further rate hikes,” said Avery Shenfeld, chief economist at CIBC Capital Markets, in a note.While no price tag for the green investments has yet emerged, one measure will be a 30% investment tax credit to boost clean-tech manufacturing, especially in the electric vehicle (EV) supply chain, two sources told Reuters last week.The budget will also include a system to lock in future carbon credit prices, a move meant to boost investments by giving businesses certainty to develop low-carbon technologies, and investments focused on increasing the capacity of the electricity grid, on battery manufacturing and on mass timber construction, sources told Reuters this month.Canada plans to expand its investment subsidies for carbon capture technology and hydrogen production and create a C$2 billion ($1.5 billion) fund for cutting emissions from heavy industry, Bloomberg reported citing people familiar with the document late Monday.Bloomberg also said the government opted not to use a production tax credit for carbon capture and storage to cover operating expenditures, and that there would be C$2 billion in cash grants to help heavy industry decarbonize operations.The Globe and Mail reported Monday the budget aims to save about C$7 billion over five years through cuts to federal travel and reduced outsourcing, including cutting the use of management consultants.Canada will spend more than C$2 billion on a rebate aimed at helping low-income families bear the brunt of high inflation, the Canadian Broadcasting Corp reported on Monday, citing a source.The budget will also include an increase in federal healthcare spending promised earlier this year to the provinces, which administer the public health system. More
Do Kwon, the South Korean businessman and disgraced founder of Terraform labs allegedly registered a company in Serbia just three weeks after a Red Notice was issued for him in September. According to reports, Kwon established a company named Codokoj22 d.o.o. Beograd on October 12, with an address in Belgrade’s city center.Although it’s impossible to search the registry by individual names, two South Koreans named Do Kwon and Han Chang-Joon were listed with a company number, confirmed by registry officials, according to the report. Both Do Kwon and Han Chang-Joon were detained on Thursday this past week. The arrest happened at Podgorica Airport in Montenegro while they traveled to Dubai privately, according to people with knowledge of the matter.This arrest was allegedly due to reports that South Korean authorities seek the two for fraud charges related to the collapse of Terra, the blockchain payment platform that Kwon co-founded in May last year.In addition, on Friday, a court in Montenegro ordered that Do Kwon and Han would be detained for the next 30 days. Han Chang-Joon wished to deliver his statement in Korean, his native language, which allegedly caused a delay in the proceedings while a translator was sought.Furthermore, Kwon is being investigated for eight separate counts of fraud in the United States. Officials in Singapore, where Terra’s headquarters are located, also conducted their investigation. According to the market watchers, this resulted in a massive reduction in market value as LUNA and UST tokens plunged, leading to a loss of $60 billion as a direct consequence of the market crash.The post Do Kwon Dodged Authorities and Registered Business in Serbia appeared first on Coin Edition.See original on CoinEdition More
Chris Burniske, a partner at Place Holder and former crypto head of Ark Invest, believes that US pressure on crypto will backfire. Burniske recently stated in a TV interview with The Exchange that now is the time to buy Bitcoin and Ethereum. He stated that people have laughed at and ridiculed the crypto industry from the beginning. Burniske mentioned the current financial turmoil and stated that Bitcoin was built for moments like this.However, it is not just Burniske; two other finance experts — Mike McGlone and Robert Kiyosaki — also share their thoughts on cryptocurrencies amid the current financial crisis with banks collapsing.In another interview, Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, recently stated that the banking crisis is a catalyst for the crypto bull run. McGlone asserted that Bitcoin was born out of the last financial crisis in 2008-09.McGlone stated that Bitcoin had done pretty well, bouncing above the $25,000 resistance. He highlighted that Bitcoin is becoming more like gold and US Treasury Bonds, but in a higher beta version.Robert Kiyosaki, the author of Rich Dad, Poor Dad, spoke on VladTV about why he bought a ton of bitcoin when it was only $6,000. He also spoke about why Warren Buffett is an “idiot” on Bitcoin and cryptocurrencies. Kiyosaki mentioned that Bitcoin and Ethereum are great buying opportunity.Kiyosaki mentioned that he never saves in dollars and instead buys gold, silver, bitcoin, and ether. He also stated that he doesn’t particularly like it, but it has value. Overall, these financial experts suggest that now is a good time to invest in cryptocurrencies.The post Three Finance Experts Say It’s Time to Buy Bitcoin and Ethereum appeared first on Coin Edition.See original on CoinEdition More
BRUSSELS (Reuters) – European Union countries gave final approval on Tuesday to a landmark law to end sales of new CO2-emitting cars in 2035, after Germany won an exemption for cars running on e-fuels.The approval from EU countries’ energy ministers means Europe’s main climate policy for cars can now enter into force – after weeks of delay caused by last-minute opposition from Germany.The EU law will require all new cars sold to have zero CO2 emissions from 2035, and 55% lower CO2 emissions from 2030, versus 2021 levels. The targets are designed to drive the rapid decarbonisation of new car fleets in Europe.The European Commission has pledged, however, to create a legal route for sales of new cars that only run on e-fuels to continue after 2035, after Germany demanded this exemption from the ban. The EU policy had been expected to make it impossible to sell combustion engine cars in the EU from 2035. But the exemption won by Germany offers a potential lifeline to traditional vehicles – although e-fuels are not yet produced at scale.E-fuels are produced by synthesising captured CO2 emissions and hydrogen produced using CO2-free electricity. They are considered carbon neutral because the CO2 released when the fuel is combusted is balanced by the CO2 removed from the atmosphere to produce the fuel.Poland voted against the law on Tuesday. Italy, Bulgaria and Romania abstained. Poland had called the law unrealistic and said it risked increasing car prices, while Italy had wanted cars running on biofuels to also be exempted from the 2035 phaseout.Transport accounts for nearly a quarter of EU emissions.Porsche and Ferrari (NYSE:RACE) are among the supporters of e-fuels, which they see as a way to avoid their vehicles being weighed down by heavy batteries.Other carmakers including Volkswagen (ETR:VOWG_p), Mercedes-Benz and Ford are betting on battery-electric vehicles to decarbonise, and some firms had urged EU countries not to row back the 2035 phase-out.EU energy ministers also agreed on Tuesday to extend a voluntary target to curb their gas use 15% for 12 months, to help prepare for next winter with scarce Russian gas.Some EU officials expected ministers to tackle a dispute over whether nuclear energy should count towards EU renewable energy targets – a question that has split countries and is threatening to delay the EU’s main renewables policy. More
