Ethereum News Daily TheBitTimes.com

Paradigm pointed out that the SEC is attempting to use the concerning accusations in its complaint as a means to alter the law, all without adhering to the established rulemaking process. Paradigm, a crypto venture capital firm, has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in their current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm pointed out that the SEC is attempting to use the concerning accusations in its complaint as a means to alter the law, all without adhering to the established rulemaking process. Paradigm firmly believes that the SEC is exceeding its regulatory boundaries, and we strongly oppose this tactic, they further stated. Back in June, the SEC initiated a legal action against Binance, accusing them of multiple violations of securities laws, such as operating without the necessary registration as an exchange, broker-dealer...

Project Mariana , an innovative endeavor aimed at leveraging the potential of Central Bank Digital Currencies ( CBDCs ) to enhance cross-border payment efficiency and security, has wrapped up, as confirmed by the Bank of France . Moreover, a developer highlights that the Bank of International Settlements (BIS) leveraged the public Ethereum Sepolia testnet and Curve Finance’s smart contracts for this pilot. Significantly, the heart of Project Mariana was Curve Finance’s code. The BIS, however, desired confidentiality regarding the use of Curve’s framework. Consequently, there has been radio silence from both Curve Finance and Ethereum’s main developers concerning Mariana’s integration of decentralized finance (DeFi) tools. Looking at Curve Finance’s record in facilitating stablecoin transactions, their prowess is undeniable. Data from DeFiLlama on September 28 pinpoints Curve Finance’s total value locked (TVL) at a staggering $2.1 billion. Additionally, Curve...

Crypto Rover noted in his latest analysis that BTC was in the process of breaking out a multi-day negative trend. The analyst revealed that BTC breaking above $27.2K may be a confirmation of a bullish trend reversal. At press time, BTC was trading at $27,077.08 after it gained 2.55% over the past 24 hours. The cryptocurrency trader and analyst Crypto Rover revealed in his latest Analysis that Bitcoin (BTC) is in the process of overcoming a significant negative trend line on its charts. According to the analyst, this is the first time the market leader has been able to break out of this bearish trend in the past 77 days. Subsequently, Crypto Rover speculated that BTC’s trend may shift from bearish to bullish in the coming few weeks. He did, however, share that he is waiting for BTC to record a higher high at, or above, $27.2K before confidently entering into a long for the cryptocurrency.  Thereafter, the analyst shared that BTC breaking above $...

In just a year, Hong Kong has moved from being a cryptocurrency-unfriendly region to claiming the top spot among the most cryptocurrency-ready countries and territories. What is the reason for such dramatic changes? According to Forex Suggest research, Hong Kong is best suited for widespread crypto currency adoption. A country that is ready to implement crypto currency has certain indicators, including the number of businesses accepting crypto currencies, a favorable regulatory environment, a thriving startup culture, and fair tax policies. Source: Forex Suggest A brief history of Hong Kong crypto regulation In October 2022, Hong Kong authorities officially announced that they intend to develop the cryptocurrency market in the region by creating appropriate regulatory standards. It was reported that the government, together with local financial regulators, will create “favorable conditions” for the development of the local cryptocurrency industry. Local authorities also announ...

EOS Network Foundation has partnered with Upland and Aerial. The collaboration sees EOS become the first blockchain network to be “climate positive”. EOS uses a proof-of-stake (PoS) consensus mechanism. EOS Network has reached a landmark milestone among block chain network s as its vision of a green block chain crystalised with the latest collaboration between the EOS Network Foundation (ENF) and Upland, a Web3 platform for the metaverse. EOS is “climate positive” Although EOS was already a carbon neutral chain, ENF’s collaboration with Upland and sustainability platform Aerial to push the EOS Network from being a carbon-neutral blockchain to one that’s now “climate positive.” The move comes amid growing adoption of green energy even across proof-of-work blockchains like Bitcoin, around which there has been much debate on how to achieve more in terms of environmental sustainability. For EOS, a proof-of-stak...

On Sep. 28, Binance CEO Changpeng Zhao said some former Binance Russia employees and the Commonwealth of Independent States might be integrated into the CommEx team. Zhao mentioned that this move aims to make the transition of Binance users to CommEx as smooth as possible in the region. CommEX’s platform, APIs, and Features are designed to closely resemble Binance to ensure a familiar experience for users. Some answers about Binance/CommEx. There will be crypto transfers between Binance & CommEx as users migrate with their funds. There are also older transactions during the testing phase of the integrations. This is expected. A few ex-Binance CIS team members may join their team,… — CZ Binance (@cz_binance) September 28, 2023 As part of the acquisition agreement, CommEX has committed to implementing blocks based on IP addresses and customer verification to avoid serving users in the U.S. and EU. Zhao also clarified that he doesn’t have any ownership stake...

EGRAG CRYPTO predicted in an X post yesterday that XRP could surge 1,160% soon. The trader’s bullish outlook is based on the historical pumps XRP has undergone in the past few months. Meanwhile, CoinMarketCap indicated that XRP was trading at $0.4971 after it recorded a 24-hour loss of 0.15%. Cryptocurrency trader and Ripple (XRP) enthusiast ‘EGRAG CRYPTO’ shared a bold prediction for the remittance token in an X post yesterday. In the post, the trader predicted that XRP could surge 1,160%. This will see the altcoin’s price rise to around $6.7 if the bullish thesis is validated. #XRP To Surge 1160% Why!!!!!!! This post is based on yesterday's insightful post looking at the 4-month timeframe, check it out here for better clarity, https://t.co/xCXt0GF6IL. Assumptions: Measuring the percentage moves of these pumps. Candle pumps must exhibit a… pic.twitter.com/y3Rn8kgfPq — EGRAG CRYPTO (@egragcrypto) September 27, 2023 EGRAG CRYPTO’s extremely bu...

Keyrock, a market maker based in Belgium, announced that it received approval from the Swiss Financial Services Standards Association (VQF). VQF is the organization responsible for enforcing anti-money laundering laws in Switzerland. Keyrock has met Switzerland’s local laws’ minimum compliance requirements. Keyrock expands its OTC services with more fiat on/off-ramp solutions. Through our Swiss VQF membership, we're now offering GBP, AUD, and 10+ other currencies alongside the standard USD and EURO. Read more about these significant milestones https://t.co/4v5SRzpftY — Keyrock 🪨 (@KeyrockTrading) September 26, 2023 Keyrock has received approval to function as a financial intermediary in Switzerland and provide its services to crypto businesses and investors based in Switzerland.  You might also like: Switzerland’s Banque SYZ unveils crypto fund with CMCC Global  This approval is similar to other crypto companies, including Bitcoin Suisse ...

In the last 7 days, the cryptocurrency market managed to remain relatively stagnant and sustain its market capitalization above $1 trillion, which could be seen as a positive sign as the market prepares for the next move. However, not many positive outcomes are in sight for some of the crypto assets, such as Shiba Inu (SHIB). The number of Shiba Inu’s investors that are holding a losing position has increased in the last 20 days. Going from 82% of SHIB holders in the red, to 88% of addresses “out of the money”. This is what data retrieved by Finbold on September 27 from the IntoTheBlock app reveals, while considering the Shiba Inu token’s price at the time each crypto wallet address received it, in comparison to current prices in the spot market. According to the app, only 9% of all SHIB investors are holding a profitable position, while 3% acquired their tokens in the same price zone of $0.000007, by the time of publication. Token summary stats for SHIB holders. Source: Into...

Pudgy Penguin collaborates with the American retail giant Walmart to expand its reach to the US. The alliance intends to introduce Pudgy Penguin’s toy line in Walmart’s 2000 stores across the nation. Following the partnership, the NFT collection surged in volume surpassing 1000 ETH. Pudgy Penguin, a popular collection of 8,888 unique non-fungible tokens (NFTs), has collaborated with the American multinational retail giant Walmart to expand its reach to the United States. The alliance intends to introduce Pudgy Penguin’s line of toys across 2000 Walmart stores across the nation, with each toy providing access to the Pudgy World, a digital social platform built on the Ethereum blockchain. David Gokhshtein, a popular media and news publication in the blockchain space, recently shared a thread on X (formerly Twitter) regarding Pudgy Penguin’s groundbreaking partnership with the retailer. According to the post, the NFT platform’s tie-up with the “retail behemoth” ...

Launched in May, the Gemini Gurgaon Hub has since added over 70 staff. Cryptocurrency exchange Gemini is allocating 2 billion rupees ($24 million) for its expansion in India. According to the Sept. 26 announcement, the funds will be used to grow Gemini's development center in Gurgaon. The exchange said:  "Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce." Since its initial launch in May, the Gemini Gurgaon Development Center has expanded to over 70 staff, with active hiring for software engineers, technical product managers, talent acquisition, finance, support, and compliance. In supporting the expansion , Gemini cited the Indian government's "robust support framework that allows startups to thrive." The site also acts as a developer for the exchange's new Features in nonfungible tokens ...

According to the latest details that surfaced, Chase Bank is prohibiting crypto currency-related payments for its UK account holders starting October 16th, per an email to customers. The ban comes as UK banks face pressure to support crypto amidst regulatory hesitation. JUST IN: 🇬🇧 Chase Bank to ban crypto-related payments for UK customers. — Watcher.Guru (@WatcherGuru) September 26, 2023 Chase Bank to decline payments related to crypto According to the notice, Chase will decline any payment deemed crypto -linked, recommending customers use other providers to invest in digital assets. This follows similar actions by major UK banks to restrict transactions involving crypto currency. The email reads, “If we think you’re making a payment related to crypto assets, we’ll decline it.” The decision is thought to be due to the mixed messaging by regulators about how to balance innovation versus risk management. The UK Financial...

At the time of writing, Shiba Memu presale had raised $3,242,388.49. One Shiba Memu (SHMU) token is going for 0.029800 USDT although expected to sell at 0.030025 USDT in the next presale stage. The Celsius bankruptcy case is nearing its end after creditors approved the lender’s reorganization plan. In a whirlwind of developments within the cryptocurrency landscape, two distinct narratives have emerged that are capturing the attention of the crypto community. Shiba Memu, a revolutionary meme token with AI-powered marketing capabilities, is making waves with a token presale that has reached a staggering $3.2 million. At the same time, Celsius , a crypto lender that faced bankruptcy, has received approval from its creditors for a reorganization plan that promises to return a substantial portion of holdings to investors. Here, we delve into these two intriguing stories. Shiba Memu redefining meme tokens In the ever-evolving world of cryptocurrencies, me...

Ethereum co-founder Vitalik Buterin’s wallet has moved $3.94million Ether to various exchanges this month. In its most recent transaction, the wallet was used to send 400 ETH (approximately $600,000 at current rates) to Coinbase, raising questions as to whether he is selling. Over the last 10 days, Buterin’s wallet has transferred 2,421 ETH to several cryptocurrency exchanges, as shown by Spot On Chain reports. The streak began when the wallet transferred 321ETH to Kraken between September 15 and September 19. At the same time, Buterin also reportedly sent 1,700 ETH to Bitstamp over several transactions up until September 20. A day earlier, the wallet was also noted to have sent 500 ETH to Paxos. 🚨 @VitalikButerin deposited 400 $ETH to #Coinbase at $1,579 ($632K) 2hrs ago. Notably, Ethereum’s co-founder has deposited a total of 2,421 $ETH to multiple CEXs at 1,628 on average ($3.94M) via two addresses over the past 10 days. 👉 More details: https:...

The SFC has stepped up its regulatory approach towards information dissemination. SFC’s aim is to reinforce the information dissemination procedure following recent concerns. Henceforth, VATPs have to comply with newly released measures in the publication of lists. The Securities and Futures Commission (SFC) of Hong Kong has stepped up its regulatory approach towards information dissemination and investor education on the Virtual Assets Trading Platforms (VATPs). In a recent publication, the independent regulator said the latest step would reinforce the information dissemination procedure following some recently identified concerns. The SFC acknowledged the potential benefits that the technology behind digital finance and virtual assets can bring to the financial markets. However, the regulatory body also identified the risks of decentralization, money laundering, investor protection issues, and other vices associated with virtual assets (VAs) and related act...

Coinbase holds $25 billion worth of Bitcoin, amounting to nearly 5% of the cryptocurrency’s total supply, according to Arkham Intel. Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (BTC) in its wallets.  Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain. This makes Coinbase the largest Bitcoin entity in the world on Arkham, with almost 5% of all BTC in existence – about as much as Satoshi Nakamoto. pic.twitter.com/7sDOczS7WT — Arkham (@ArkhamIntel) September 22, 2023 The Bitcoin holding is valued at over $25 billion per the current market rates. It also constitutes almost 5% of all Bitcoin in circulation, an amount that would put Coinbase on par with the alleged holdings of Bitcoin’s elusive founder, Satoshi Nakamoto. As asserted by Arkham, Coinbase’s Bitcoin portfolio consists of a grand total of 947,755 B...

Santiment revealed in an X post earlier today that network fees for Ethereum have dropped to its lowest point in 2023. According to the post, historical drops in Ethereum’s fees have led to increased utility and market cap for ETH. From a technical perspective, a positive trend line had formed on ETH’s daily chart. According to the blockchain intelligence platform Santiment, network fees for Ethereum (ETH) have dropped to their lowest levels for 2023, falling to just $1.15 per transaction. In the post, Santiment shared that historical drops in Ethereum’s network fees have led to increased utility, which subsequently resulted in the leading altcoin’s market cap rising. #Ethereum network fees have dropped down to its lowest level of 2023, at just $1.15 per transaction. Historically, we see utility begin rising as $ETH becomes more affordable to circulate. Increased utility can then lead to recovering market cap levels. https://t.co/MpOLfMYKUp pic.twitter.com/...

Polkadot (DOT), an avant-garde interoperability network, is set to undergo transformative expansion, with plans to enhance its ecosystem by introducing the asynchronous backing update. Currently, the ecosystem accommodates a limit of 100 parachains—individual blockchains interlinked within Polkadot’s structure. Yet, the core developers are ambitiously pushing towards a future where this number could burgeon to 1,000 parachains. This amplification isn’t just about numbers—it’s about harnessing technology to redefine scalability in the world of blockchain. Head to Polkadot's YouTube channel to watch all presentations from #sub0, The Polkadot Developer Conference. 50+ teams in the Polkadot ecosystem & beyond ️ Tracks for builders + those just starting in Web3 ️ DeFi, AI, Security, Privacy & morehttps://t.co/Mt1gHd0Fv4 — Polkadot (@Polkadot) September 22, 2023 Central to this ambitious plan is an update named “ asynchronous backing ....

Casey Rodarmor, the creator of this year’s popular Bitcoin Ordinals protocol that spawned millions of ‘NFTs on Bitcoin,’ wants to renege on a central promise. Although, since February, he’s repeatedly assured Bitcoiners that ordinals numbers are “immutable,” he wants to renumber them. He also wants the ability to change them in the future, at his discretion. Some people fear a rug pull. Speculation about Rodarmor dumping on users near the top — like when Charlie Lee sold Litecoin — is circulating. Others liken Rodarmor’s proposal to changing millions of phone numbers without their owners’ permission. Ordinals numbers are part of their collectible appeal Since inception, ordinals numbers have been a distinguishing feature of these collectibles. OnChainMonkey Genesis, for example, carefully chose Ordinal #20219 “to commemorate the exact month and year of Genesis’ creation.” Many ordinals use their originally assigned number within the name of the ordina...