Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
SEC
SEC Cracks Down on FTX Repayment Plans!
The post SEC Cracks Down on FTX Repayment Plans! appeared first on Coinpedia Fintech News FTX is in trouble again! Recently, the SEC has filed a warning against the FTX estate, a possible signal to object to using stablecoins or other digital assets to repay creditors. The agency, alongside the U.S. Trustee, also objects to a discharge provision that would limit future liabilities of the FTX debtors. FTX plans to repay creditors in cash or stablecoins despite proposals to restart…
9 months ago
Ripple (XRP) Likely to Reclaim $0.60 as Lawyer Sees Fading Odds for an SEC Appeal, Dogecoin (DOGE) Competitor Gears Up for 20x Move by Year-End
Ripple (XRP) is poised to recover and push toward the $0.60 mark as legal experts increasingly doubt the Securities and Exchange Commission’s (SEC) chances of a successful appeal. At the same time, Dogecoin (DOGE) enthusiasts face a less optimistic outlook, while a new competitor, MoonTaurus (MNTR), is making noisy moves in the meme coin market with a predicted 2000% gain by year-end. Ripple’s (XRP) Strong Legal Position A federal judge issued a final judgment on the SEC-Ripple case on August…
9 months ago
Quidax Becomes Nigeria’s first SEC licensed Crypto Exchange
Lagos, Nigeria, 31th August 2024 - On Thursday, African-founded cryptocurrency exchange, Quidax announced that it has become the first crypto exchange to receive a provisional operating license by Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. The license which was presented by the Securities and Exchange Commission grants Quidax the permission to operate as a registered crypto exchange in Nigeria as the nation begins the formal recognition and much needed regulatory oversight, to the cryptocurrency industry. Speaking…
9 months ago
Gary Gensler to Address DeFi and SEC Oversight in September’s Congressional Hearings
The post Gary Gensler to Address DeFi and SEC Oversight in September’s Congressional Hearings appeared first on Coinpedia Fintech News The U.S. House Financial Services Committee is gearing up for a series of crucial hearings in September, set to address several pressing issues in the crypto space. Among the topics on the agenda are decentralized finance (DeFi), the SEC oversight of digital assets, and the rise of “pig butchering” scams, a fraud practice involving scammers posing as romantic partners to…
9 months ago
Ripple’s CLO Stuart Alderoty Advises OpenSea on Strategy to Navigate Potential SEC NFT Lawsuit
The post Ripple’s CLO Stuart Alderoty Advises OpenSea on Strategy to Navigate Potential SEC NFT Lawsuit appeared first on Coinpedia Fintech News The United States Securities and Exchange Commission (SEC) has continued to go after crypto projects even after losing several battles against top web3 firms including Ripple Labs, on Thursday, the US SEC sent a Wells notice to the leading NFT marketplace, OpenSea, regarding its business operations against the set securities laws. The US SEC highlighted that NFTs traded…
9 months ago
OpenSea Faces SEC Action as Regulator Targets NFTs as Securities
The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to NFT platform OpenSea, indicating potential legal action as the regulator broadens its crackdown to include NFTs, raising concerns about the future of digital art and innovation. OpenSea Receives Wells Notice In a post on social media platform X, Devin Finzer, CEO of OpenSea, announced that the NFT marketplace has been served a Wells Notice by the SEC. The notice suggests that the SEC views certain NFTs traded…
9 months ago
Hester Peirce Admits SEC Failures in Crypto Regulation: What This Means for the Future
The post Hester Peirce Admits SEC Failures in Crypto Regulation: What This Means for the Future appeared first on Coinpedia Fintech News Fox Business reporter Eleanor Terrett recently shared a significant statement from SEC Commissioner Hester Peirce regarding the SEC’s handling of cryptocurrency regulation. The Inside Scoop Hester Peirce’s Crypto Regret In a recent statement, Peirce admitted that she partially blames herself for how the Commission has interpreted the Howey Test. This legal framework determines whether a financial transaction qualifies…
9 months ago
OpenSea Receives Wells Notice from the SEC: Are NFTs Next in Line for Regulation?
The post OpenSea Receives Wells Notice from the SEC: Are NFTs Next in Line for Regulation? appeared first on Coinpedia Fintech News Prominent crypto analyst Lark Davis has taken a strong stance against the recent actions of the U.S. SEC, linking them directly to what he calls a broader “crypto reset” led by the Biden administration. Davis’s critique focuses on Vice President Kamala Harris, accusing her of having the power to stop SEC Chair Gary Gensler but choosing not to.…
9 months ago
Opensea Receives Wells Notice from the SEC !
The post Opensea Receives Wells Notice from the SEC ! appeared first on Coinpedia Fintech News The digital art world is facing an unexpected challenge. OpenSea, a well-known NFT marketplace, is preparing for a possible legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has sent a Wells Notice to OpenSea, signaling that it may soon take legal action, arguing that NFTs sold on the platform are securities. CEO of Opensea Replied The CEo of Opensea, Devin…
9 months ago