Markets

Is Bipartisan Backing for Reversing SEC Rule a Turning Point for Crypto?

US House of Representatives passed a resolution to overturn a contentious Securities and Exchange Commission (SEC) bulletin concerning accounting standards for cryptocurrency custodians. The resolution, passed by a vote of 228-182, garnered significant support from Republicans and 21 Democrats, underscoring growing tensions between legislative preferences and regulatory measures within the

May 9, 2024 2 mins read

World Network Halted in Indonesia Amid Registration and Consent Issues

Indonesia’s Bappebti Forms Crypto Asset Committee to Enhance Regulation

In response to the surge in global crypto interest, regulatory bodies in many countries are tightening their oversight to prevent violations. Recently, the Indonesian government’s Commodity Futures Trading Regulatory Agency, known as Bappebti, has taken a proactive step by forming a dedicated committee to monitor the crypto industry. The committee,

May 8, 2024 1 min read

Ripple CLO Evaluates SEC's Retraction of 'Absurd' $2B Penalty Demand

SEC Dismisses Ripple’s Defenses, Highlights Concerns Over Future Breaches

In the ongoing legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC), significant progress has been made as both parties filed their final replies in the lawsuit’s remedies stage. The SEC challenged Ripple’s assertion of acting without recklessness and argued against any “widespread uncertainty” regarding

May 8, 2024 1 min read

Legislators Probe SEC Chair Gensler Over Political Bias in Hiring

SEC Chair Gensler Faces Critique from Crypto Community Again

Securities and Exchange Commission (SEC) Chairman Gary Gensler’s recent remarks regarding the classification of Ethereum have sparked a flurry of responses within the crypto community. While Gensler refrained from directly addressing whether Ethereum should be classified as a security or a commodity, he commented on investor protection and regulatory concerns.

May 8, 2024 2 mins read

Nigerian Government Denounces Binance's Bribery Allegations as Baseless

Nigeria Set to Ban P2P Crypto Trading on All Platforms

Nigeria has intensified its crackdown on cryptocurrency trading in the country’s currency, the naira, to combat what it perceives as detrimental effects on the struggling local economy. The Securities and Exchange Commission (SEC) has announced plans to implement new regulations targeting crypto exchanges and other sectors of the industry. The

May 7, 2024 1 min read

Memecoins in Turbulent Waters: What Traders Need to Know

In a notable downturn, the cryptocurrency market experienced a significant dip, with Bitcoin, the leader of the pack, plunging below the $60,000 mark, hitting a two-month low of $56,465. This downward trend was mirrored by many altcoins, painting the market red. However, amidst the sea of losses, Solana and certain

May 3, 2024 1 min read

Bitcoin Network Witnesses Multi-Year Low in New Address Additions

Crypto Options Market Braces For Massive Expiration as BTC and ETH Fluctuate

As the crypto market continues to experience volatility, the options market is gearing up for a significant expiration event. On May 2nd, 2024, 23,000 Bitcoin (BTC) options contracts with a notional value of $1.4 billion are set to expire. The Put Call Ratio for these options is 0.49, indicating a

May 3, 2024 2 mins read

Crypto Markets Kick Off May on Bearish Note: What Lies Ahead?

Crypto Market Kick Off May On Bearish Note: What Lies Ahead?

In the first quarter of 2024, the crypto sphere found itself navigating turbulent waters, with Bitcoin’s highly anticipated halving event failing to produce the expected bullish momentum. The onset of may brought with it a continuation of this bearish sentiment, as Bitcoin plummeted to a two-month low of $56,486, marking

May 2, 2024 2 mins read

Polygon Discord Channel Breach Sparks Security Concerns

Crypto Hack Losses Decrease by 67.9% in April: Report

Losses stemming from hacks in the crypto sector fell by 67.9% in April to $60.2 million, compared to March 2024, as reported by blockchain security firm PeckShield Alert. According to the report, over 40 hacking incidents drained this sum across multiple protocols within the on-chain ecosystem. While this is significantly

May 1, 2024 1 min read

Traders’ Anxiety Mounts as Bitcoin and Ethereum Prices Dip to Near Two-Week Lows

The past week has seen a significant downturn in trading activity, reminiscent of levels last witnessed during the final week of January. As traders grapple with indecision, the once fervent calls to ‘buy the dip’ have dwindled, echoing a quieter sentiment among those bullish on the crypto market’s trajectory. Bitcoin

April 30, 2024 2 mins read