In a letter to its Dutch users on Sept. 26, Gemini asks them to either withdraw their assets or transfer them to another wallet address, as the platform will suspend its operation in the Netherlands “due to requirements imposed by the De Nederlandsche Bank (DNB) on crypto exchanges” by Nov. 17. The letter states: Continue Reading on Coin Telegraph More
This argument forms part of the ongoing legal dispute between the U.S. Securities and Exchange Commission (SEC) and crypto exchange Binance. Back on June 5, the SEC initiated legal proceedings against Binance, alleging multiple legal violations, including 13 charges related to the sales of BNB tokens and BUSD tokens. The regulator contends that Binance’s stablecoin offering constitutes an unregistered security, and further accuses the exchange of operating illegally in the U.S. without proper broker-dealer clearing agency registration.On September 22, Binance and its CEO Changpeng Zhao responded by requesting the court to dismiss the SEC lawsuit. They argue that the SEC has overreached its authority in this case. Their petition emphasizes their belief that the SEC failed to provide clear sector guidelines before launching the lawsuit and imposed its authority retroactively.Circle’s recent court filing is in line with its previous stance on stablecoin regulation. In February, Circle CEO Jeremy Allaire suggested that stablecoins should fall under banking regulators’ jurisdiction rather than being overseen by the SEC. This statement was made in response to the SEC’s lawsuit against Paxos for its role in issuing BUSD, which the commission classified as a security.The SEC’s approach to cryptocurrencies extends beyond exchanges and includes nonfungible tokens (NFTs). On August 28, it charged entertainment company Impact Theory over sales of its NFT collection, labeling them as unregistered securities. Similarly, on September 13, the SEC charged the company behind the Stoner Cats NFT collection, asserting that the firm’s offering of NFTs to the public constituted sales of unregistered securities.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
In a court filing, Circle argued that assets pegged to the U.S. dollar, such as Binance USD (BUSD) or USDC, are not securities because those who purchase the assets are not expecting any profit from acquiring them. According to Circle, payment stablecoins do not have the “features of an investment contract” on their own. Continue Reading on Coin Telegraph More
Ripple is among nine companies that have been shortlisted based on their technological prowess and relevant experience. The NBG’s digital currency endeavor, known as the GEL CBDC project, aims to create a “Limited Access Live Pilot Environment”. This environment will be used to evaluate the technological capabilities of the CBDC system and explore its potential applications.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
began its journey to support smart contracts several years ago, devising a plan for a permissionless multichain solution anchored to either Shimmer or IOTA.This solution utilized DAG as the foundational layer for cross-chain communication.Consolidating its vision, it initiated the IOTA Smart Contracts (ISC) project. After years of building and putting in collective efforts, the first public ISC chain on a network that has an actual token, the Shimmer EVM, was birthed.Shimmer, a network with token SMR created to advance major innovations in IOTA, took to X to announce the historic milestone. “Fully EVM-Compatible Smart Contracts are now available in the public ShimmerEVM chain. the first step to programmability on Shimmer and IOTA,” it stated in a tweet.IOTA Dominik Schiener is excited about the possibilities brought about by this new chain, taking to X to celebrate the milestone of Shimmer becoming an “L1 network with real utility and a thriving ecosystem.”Schiener spoke more about the new Ethereum-compatible chain, describing it as “fully EVM-compatible to support DeFi, GameFi, and IOTA’s push in the market.Now we work together to grow it into one of the largest Web3 ecosystems.”Users would be able to send their SMR tokens and, in the future, NFTs and custom Native Assets to the ShimmerEVM through Firefly with no special bridge needed.This initial chain should pave the way for more chains to emerge. ShimmerEVM operates on the most recent version of ISC and hence inherits all of its features.The new ShimmerEVM initially launched as a public chain, but over time, the IOTA Foundation will hand over the reins of control of the chain to the community. To decentralize the chain further, a supermajority of validators will gradually be given to the community.This article was originally published on U.Today More
Coinbase’s reputation as a reliable custodian for digital assets has been bolstered by its stringent safety and compliance measures. These characteristics have facilitated the adoption of cryptocurrencies, making it a popular choice for individual and institutional investors alike. This latest transaction could reflect strategic decisions by these investors, hinting at their continued faith in the crypto market. Taking a closer look at Coinbase’s performance, InvestingPro data reveals a mixed picture. The company has a market capitalization of $17.83 billion, demonstrating its significant presence in the crypto market. However, it’s important to note that the company has a negative P/E ratio of -13.49, indicating that it is currently not profitable. According to InvestingPro Tips, there is a declining trend in the company’s earnings per share and analysts do not anticipate the company will be profitable this year. In addition, the stock generally trades with high price volatility, which is reflected in the 1-month price total return of -11.26%. Despite this, the company has seen a year-to-date price total return of 112.38%, indicating the potential for significant returns for risk-tolerant investors.Investors considering Coinbase should also be aware that the company does not pay a dividend to shareholders. This is one of the many insights available on InvestingPro, where you can find additional tips and real-time metrics to aid your investment decisions. For more information, visit InvestingPro.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
It is not just the Sharpe Ratio that is showing positive signs. Other metrics like network activity and trading volume have also been growing in the midterm (one to three months), adding more supportto the argument that the crypto is in a healthier state.As of the latest data, is trading at approximately $27,069.73, and Ethereum is at about $1,677.89. These prices reflect the overall positive sentiment on the market, backed by the rising Sharpe Ratios.The increase in the Sharpe Ratio for both Bitcoin and Ethereum is a promising sign for the crypto market. It suggests a recovering market where the risk-to-reward ratio is becoming more favorable for investors. Coupled with the growth in other metrics like network activity and trading volume, the rising Sharpe Ratio could be the catalyst that brings more investors into the crypto space.This article was originally published on U.Today More
According to recent data, ETH is priced at $1,619.41, with a 1.79% increase, hinting at a positive momentum shift. This rebound is particularly noticeable as ETH managed to break through the 21-day Exponential Moving Average (EMA), a crucial technical indicator. Although the market remains unpredictable and there is a possibility for ETH to experience a downturn, this rapid growth spurt is a positive signal. It hints at the potential recovery of this widely used network, stirring optimism among investors.Source: However, it is crucial to approach this with a balanced perspective. While the recent uptick is undoubtedly a positive sign, it does not entirely rule out the possibility of a downturn. The crypto market is notoriously volatile, and Ethereum is no exception to this rule.What makes this rebound particularly noteworthy is its timing. network is the most utilized in the crypto space, serving as the backbone for countless decentralized applications and smart contracts. A resurgence in Ethereum’s price could signify a broader recovery of the crypto market, given its integral role in the ecosystem.In summary, Ethereum’s recent price performance is a glimmer of optimism in a market that has been craving good news. The breakthrough of the 21 EMA is a positive technical indicator, but it is essential to remain cautious. The asset could still experience setbacks, but its rapid growth is a sign that the most used network in the crypto space might be waking up from its slumber.However, the latest market data suggests that Shiba Inu is still aiming for a prominent move upward.The descent below the trendline was a blow to SHIB, but the subsequent activity brings a silver lining. The real-time price data unfolds a narrative of mild resurgence, but whether this is a harbinger of a bullish trend or a temporary respite remains under scrutiny. A close inspection of the price action reveals a skirmish between the bulls and bears at the former support level, now a resistance point. The tug of war underlines the crucial phase SHIB is traversing, with every tick potentially altering the course. The fervent community, undeterred by the recent slump, rallies behind initiatives aimed at propelling SHIB back to favorable waters. A deep dive into real-time data reveals a stark contrast in the market’s pulse. The dollar’s ascendancy coincides with a discernible tremor running through the crypto market’s spine. Each uptick in the DXY seemingly douses the fiery allure of cryptocurrencies, painting a picture of a at a crossroads. The dwindling liquidity coupled with reduced volatility is morphing into a repellent, shooing away investors who once flocked to the crypto market in search of lucrative ventures.The narrative spun by the growing strength of the dollar is not just a tale of two markets but a reflection of global economic shifts. As traditional and digital financial realms intertwine, the repercussions of movements in one echo in the other. The dollar’s current trajectory is a glaring sign of the crypto market’s tribulations, further fueled by a cocktail of regulatory uncertainties and market sentiment swayed by macroeconomic winds.This article was originally published on U.Today More
