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Research Reveals Kamala Harris Still Lags Behind Donald Trump in Support of Crypto

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United States presidential candidate Kamala Harris is more supportive of cryptocurrency than her current boss, President Joe Biden, but is still not as pro-crypto as her rival, Donald Trump, according to an October 14 analysis by Galaxy Research.

Harris has promised to improve the regulatory environment for U.S. crypto firms, but she holds less favorable positions on key issues such as taxes, Bitcoin mining, and self-custody. Galaxy Research head Alex Thorn commented on the X platform, “While Trump is undoubtedly more favorable for the industry, we’re optimistic that Harris could be more supportive than Biden has been.”

In the upcoming presidential election, Trump, the Republican nominee, has positioned himself as a strong advocate for the crypto industry, promising to make the U.S. “the crypto capital of the world.” Meanwhile, Harris, the Democratic nominee, has been relatively quiet on the subject, though she has recently shown more interest in blockchain technology.

Under Biden’s administration, the U.S. Securities and Exchange Commission (SEC) has taken an aggressive approach toward the crypto industry, launching over 100 regulatory actions against firms. Trump, in contrast, has promised to “fire” SEC Chair Gary Gensler if elected.

In September, Harris began highlighting blockchain as one of the emerging technologies she wants the U.S. to lead in, which could indicate a more constructive regulatory approach. Galaxy noted, “behind the scenes conversations […] suggest Harris is targeting a slightly more constructive approach” compared to Biden’s administration.

The recent resignation of Gurbir Grewal, the SEC’s head of enforcement, on October 2 could signal a shift in the regulatory stance.

However, Harris remains “extremely hostile” toward the industry regarding taxes, with plans to roll back Trump’s tax cuts, which could result in higher capital gains taxes for crypto holders. Meanwhile, Trump supports Bitcoin mining and has expressed a desire for more Bitcoin to be “made in America.” He has also pledged to “protect the right of self-custody,” allowing individuals to hold their crypto assets in personal wallets rather than third-party custodians.

Harris has not shown similar support for Bitcoin mining or self-custody, and both candidates maintain a strong stance on imposing financial sanctions against foreign adversaries on crypto transactions, which may limit their backing of decentralized finance (DeFi) protocols that avoid Know Your Customer (KYC) or Anti-Money Laundering (AML) regulations.

Frédéric Imbert Commemorates 15 Years of Bitcoin Through Art with The Bitcoin Masterpiece

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On the occasion of Bitcoin’s 15th anniversary, renowned artist Frédéric Imbert unveils The Bitcoin Masterpiece, an innovative work that fuses art and technology. This limited edition collection consists of 99 pieces. The artwork pushes the boundaries of art while carving its place in the history of the crypto space.

The Bitcoin Masterpiece: An Artwork Reflecting the Bitcoin Revolution

An exceptional piece of art is set to leave its mark on the history of cryptocurrency. Frédéric Imbert, alongside his son Bastien Imbert, is preparing to launch The Bitcoin Masterpiece, a groundbreaking creation inspired by the Bitcoin logo, merging art with cutting-edge technology.

This work stands out with its sleek and sophisticated design. The carbon and aluminum frame, measuring 95 cm x 95 cm x 5 cm and weighing 12.8 kg, incorporates advanced electronic components. Using 146 glass displays and 217 low-pressure neon lamps, the piece lights up the Bitcoin logo second by second, through successive patterns, creating a stunning visual effect. Frédéric Imbert meticulously hand-assembles each piece in his Paris workshop, ensuring exceptional quality.

The artwork offers a dynamic and captivating representation of the Bitcoin universe. It incorporates several interactive elements, making it a living and evolving piece:

●           Progressive and random illuminations of the Bitcoin logo

●           Real-time display of Bitcoin’s market price, allowing for real-time tracking of its fluctuations

●           Presentation of essential Bitcoin-related data, providing an overview of the ecosystem

This fusion of art and technology transforms each piece into a gateway to the crypto world, while maintaining a refined aesthetic worthy of the most prestigious contemporary art pieces.

The Limited Edition for Enthusiasts and Collectors

The Bitcoin Masterpiece collection is available in 99 numbered pieces. Each piece, unique and customizable upon request, receives the artist’s meticulous attention. Its rarity, combined with artisanal quality and technological innovation, makes it a potential investment for art collectors and crypto enthusiasts alike.

Each piece is priced at 1 Bitcoin, reflecting the ambition of the project, its symbolism, and its deep connection to the leading cryptocurrency.

The Bitcoin Masterpiece will debut at an exclusive vernissage held at The Outpost, a private mansion in the heart of Paris’s 17th arrondissement. The event that will take place on October 23rd will mark the official launch of the collection.

To register for the event, visit: https://lu.ma/afep9ro4

The Visionary Artist Behind The Bitcoin Masterpiece

Frédéric Imbert, the creative mind behind The Bitcoin Masterpiece, is a renowned artist and engineer. Born in Monaco and based near Paris, he has distinguished himself for more than two decades by his ability to fuse art and science into unique contemporary creations.

His passion for electronics and intricate watchmaking is reflected in each of his works, which often incorporate rare and iconic electronic components. Imbert’s distinctive style is characterized by the use of vintage and modern parts, creating visual symphonies that celebrate the passage of time and pay homage to technological and architectural icons.

The Collection Backed by Esteemed Partners

The Bitcoin Masterpiece is already supported by several renowned partners in the crypto and digital art industries. These collaborations will help boost the artwork’s visibility and strengthen its position in the world of crypto art.

The Bitcoin Masterpiece represents the convergence of technological innovation and artistic expression. This creation by Frédéric Imbert offers collectors, cryptocurrency enthusiasts, and digital art lovers the chance to own a work that stands at the crossroads of these worlds. The Bitcoin Masterpiece is destined to become a symbol of the crypto era in the art world.

Twitter : @BTC_Masterpiece

Instagram : thebitcoinmasterpiece

Event : https://lu.ma/afep9ro4

Minutes Network Appoints Gaming & Web3 Veteran Jamie King, Former Rockstar Co-Founder, as Chief Marketing Officer

Leeds, United Kingdom, October 14th, 2024, Chainwire

Minutes Network, the world’s first blockchain-based international voice-calling and wholesale termination service provider, is thrilled to announce the appointment of Jamie King as its new Chief Marketing Officer, effective October 14th, 2024. With a pioneering career in driving digital marketing transformations, Jamie is set to lead Minutes Network marketing initiatives into a new era of growth and engagement, bringing a wealth of expertise, vision, and leadership that will further drive the company’s commitment to providing voice carriers worldwide with the highest quality international terminations, at the lowest, market-beating, prices. 

“The potential of DePIN to transform the telecommunications industry is immense and Minutes Network is at the forefront of this revolution. I’ve always been passionate about the intersection of technology and entertainment and the real value of infrastructure. I’m thrilled to join the team and eager to use my expertise to help the company expand its reach and deliver exceptional value to our customers while disrupting traditional business models.”

Jamie King brings over 20 years of experience in product innovation and go-to-market strategies with a recent focus on Web3 and its potential to disrupt legacy industries. Renowned for his contribution to creative innovation as a co-founder of Rockstar Games, Jamie King has received multiple awards for his work, including a BAFTA for lifetime contribution in video games, Chief Marketer Pro Gold Awards, Tempest Esports Awards, a Clio and a 34th Sports Emmy Nomination for ‘Outstanding Digital Innovation.’ 

“Jamie King’s proven track record aligns perfectly with our vision for the future,” said CEO Josh Watkins. “Jamie is set to lead Minutes Network marketing initiatives into a new era of growth and engagement, focused on accelerating brand awareness and scaling user adoption of the Minutes Network platform.” 

About Minutes Network

Minutes Network offers a unique integration between telecommunications and the blockchain, leveraging existing and new, proprietary MinTech technologies to provide voice carriers worldwide with the highest quality international terminations at unmatchable prices. With twenty-four international points of presence, Minutes Network can terminate international traffic all day, every day, to any worldwide destination. Through innovative solutions and a dedication to excellence at pace, Minutes Network continues to set new standards in the Telecom Industry. 

For more information about Minutes Network and their leadership team, users can visit www.minutesnetwork.io and X account.

Contact

CEO
Josh Watkins
Minutes Network
enquiries@minutesnetwork.io

FILLiquid Launches FIG Staking to Introduce Revenue Sharing for Its FIL Borrowing Platform

Berlin, Germany, October 14th, 2024, Chainwire

FILLiquid, an emerging Filecoin-based platform for leasing and borrowing, has launched FIG Staking, a new product that allows users the chance to earn yield by staking the platform’s governance token, FIG. This initiative leverages a revenue-sharing model, enhancing the utility of FIG and enabling token holders to claim a share of the platform’s transaction fees.

Since FILLiquid’s FIL liquidity protocol debuted in late August 2024, it has swiftly attracted over $2.5 million in Total Value Locked (TVL), underscoring its growing influence in Filecoin-based borrowing. The recent launch of FIG Staking saw nearly 1 million $FIG staked within just two hours, which the team sees as a reflection of token holders’ interest in deeper protocol participation.

FIG Staking extends the utility of the FIG token beyond governance by offering stakers access to a share of transaction-based revenue. With this product, FILLiquid aims to provide token holders the option to participate more actively in the protocol’s growth, aligning rewards with platform usage.

“The FILLiquid community has eagerly awaited the FIG Staking launch, which opens up additional yield-generating opportunities,” said Arthur Tan, CEO of FILLiquid. “This innovation allows our community to become more integrated with the protocol, providing them with a unique ownership opportunity for the platform.”

To participate in FIG Staking, users need to deposit FIG into the staking product and allow rewards to accumulate as more transactions and loans are processed on the platform. Users are required to select a deposit period when staking, with longer periods providing higher rewards.

Dividends are allocated based on the user’s staking period and the amount staked based on a weighted formula. Rewards are triggered when the number of FIL in the reward pool reaches the threshold. However, the first three dividends will be triggered manually over the following three dates: October 17th, October 24th, and October 31st, providing ample opportunity for FIG holders to start staking.

After attracting over $2.5 million TVL, FILLiquid has quickly become a key player within the Filecoin ecosystem. The liquidity pool is designed to deepen FIL liquidity for storage providers, helping them achieve sustainable storage power growth and capital efficiency by utilizing locked liquidity to secure loans.

FIG Staking extends the utility of the FIG token beyond governance by offering stakers access to a share of transaction-based revenue. With this product, FILLiquid aims to provide token holders the option to participate more actively in the protocol’s growth, aligning rewards with platform usage.

About FILLiquid

FILLiquid is a $FIL lending protocol that aims to deepen liquidity to Storage Providers (SPS), helping them achieve consistent storage power growth while allowing token holders to lease their assets. The protocol intends to solve the SP dilemma, which requires SPs to make consistent $FIL pledges to add more storage capacity to the Filecoin network by unlocking liquidity in the SPs node. FILLiquid employs an algorithmic interest rate model dictated by the utilization rate in the liquidity pool.

$FIG, FILLiquid’s native token, provides governance voting rights and allows holders to participate in revenue-sharing when staked. It also features deflationary properties through burning.

The team members behind FILLiquid are very well-versed in the crypto field, with more than seven years of experience. The product designer is a CFA-certified economist who previously worked as a researcher at the IMF and World Bank Group, providing credibility for the project. In terms of achievements, FILLiquid has already won the Ethereum and Filecoin DeFi Hackathon in 2023, an event showcasing their innovation in DeFi solutions.

For more information and regular updates, users can visit FILLiquid’s official website and whitepaper, as well as the Telegram, X, Medium, and Discord channels.

Contact

CEO
Arthur Tan
media@fliquid.io

US Regulators Received $19 Billion From Crypto Companies in 2024

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United States regulators have secured over $19 billion in lawsuit settlements from cryptocurrency companies in 2024, representing nearly two-thirds of all settlements to date.

An October 9 report from CoinGecko revealed that the bankrupt crypto exchange FTX and its affiliated trading firm Alameda accounted for the majority of these settlements, paying $12.7 billion to the Commodity Futures Trading Commission (CFTC) in an August agreement.

Across eight settlements in 2024, regulators collected 78% more than in 2023, when $10.87 billion was paid. This marks a staggering 8,327% increase in settlement values compared to 2022.

The past two years have seen more settlements with regulators than all previous years combined.

The total settlement amounts included forfeiture, disgorgement, civil penalties, and prejudgment interest but excluded individual lawsuits against executives. According to CoinGecko research analyst Lim Yu Qian, the collapse of Celsius and Terraform Labs in mid-2022 were “key events” that shifted the market from a crypto bull run to a bear market, ultimately leading to FTX’s collapse and increased regulatory scrutiny in the U.S.

Terraform Labs reached the second-highest settlement in 2024, paying $4.47 billion to the Securities and Exchange Commission (SEC) over the collapse of the algorithmic stablecoin TerraUSD (UST). Genesis followed with a $2 billion settlement with the Office of the Attorney General (OAG) after filing for Chapter 11 bankruptcy in early 2023.

Regulator activity has intensified over the last two years, and Qian anticipates more settlements before the end of 2024. She stated, “Even with a few months left in the year, 2024 has already recorded a 78.9% increase in settlement value compared to 2023.” She added that given regulators’ persistence, 2024 could surpass last year’s record.

One significant settlement in 2023 involved Binance, marking the only billion-dollar settlement with an operating crypto company. Binance and its former CEO, Changpeng “CZ” Zhao, agreed to plead guilty to charges related to Anti-Money Laundering violations to resolve lawsuits with the Department of Justice (DOJ), Treasury Department, and CFTC.

Since 2019, U.S. regulators have collected approximately $31.92 billion in settlements from cryptocurrency companies.

Gate Ventures and Boon Ventures Establish $20mn Web3 Fund

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Venture capital firms Gate Ventures and Boon Ventures have partnered with Movement Labs to establish a new $20 million fund focused on supporting Web3 startups.

As announced on October 13, the fund is aimed at developing Move-based protocols, with a particular emphasis on projects that bridge the Move network with Ethereum-compatible (EVM) applications.

“The fund will invest across a range of Web3 verticals within the Move ecosystem,” a spokesperson for Gate Ventures, the investment arm of crypto exchange Gate.io, told Cointelegraph.

The investments will be directed toward decentralized finance (DeFi) projects focusing on security, GameFi involving in-game asset transactions, NFT management, and interoperability solutions that enable seamless data and asset transfers between the Move and EVM ecosystems.

Startups backed by this initiative will also have access to a mentorship program, participate in hackathons, and join a research grant program aimed at improving blockchain interoperability.

Movement Labs is a protocol built using the Move programming language, which was initially developed by Facebook-parent Meta. Unlike the Aptos Network, another layer-1 that uses Move, Movement Labs’ upcoming mainnet will serve as a layer-2 solution for integrating Move and Ethereum transactions.

Recently, Movement Labs secured $38 million in a Series A funding round led by Polychain Capital. The funds will help advance fast-finality rollups, cross-chain atomic transactions, and customizable transaction sequencing.

Supporting startups in both the Move and EVM ecosystems is essential for boosting liquidity and developer adoption.

“The ultimate goal is to create an integrated blockchain environment where developers can build across platforms without sacrificing security or performance,” a Movement Labs spokesperson explained.

Movement Labs has been actively investing in its ecosystem. In September, the first cohort of startups in its accelerator program raised $13.2 million in seed funding. Additionally, $10 million was secured from the Web3Port Foundation to support native DeFi protocols and consumer and gaming applications within the Move network.

US Regulators Have Received $19 Billion From Crypto Companies in 2024

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United States regulators have secured over $19 billion in lawsuit settlements from cryptocurrency companies in 2024, representing nearly two-thirds of all settlements to date.

An October 9 report from CoinGecko revealed that the bankrupt crypto exchange FTX and its affiliated trading firm Alameda accounted for the majority of these settlements, paying $12.7 billion to the Commodity Futures Trading Commission (CFTC) in an August agreement.

Across eight settlements in 2024, regulators collected 78% more than in 2023, when $10.87 billion was paid. This marks a staggering 8,327% increase in settlement values compared to 2022.

The past two years have seen more settlements with regulators than all previous years combined.

The total settlement amounts included forfeiture, disgorgement, civil penalties, and prejudgment interest but excluded individual lawsuits against executives. According to CoinGecko research analyst Lim Yu Qian, the collapse of Celsius and Terraform Labs in mid-2022 were “key events” that shifted the market from a crypto bull run to a bear market, ultimately leading to FTX’s collapse and increased regulatory scrutiny in the U.S.

Terraform Labs reached the second-highest settlement in 2024, paying $4.47 billion to the Securities and Exchange Commission (SEC) over the collapse of the algorithmic stablecoin TerraUSD (UST). Genesis followed with a $2 billion settlement with the Office of the Attorney General (OAG) after filing for Chapter 11 bankruptcy in early 2023.

Regulator activity has intensified over the last two years, and Qian anticipates more settlements before the end of 2024. She stated, “Even with a few months left in the year, 2024 has already recorded a 78.9% increase in settlement value compared to 2023.” She added that given regulators’ persistence, 2024 could surpass last year’s record.

One significant settlement in 2023 involved Binance, marking the only billion-dollar settlement with an operating crypto company. Binance and its former CEO, Changpeng “CZ” Zhao, agreed to plead guilty to charges related to Anti-Money Laundering violations to resolve lawsuits with the Department of Justice (DOJ), Treasury Department, and CFTC.

Since 2019, U.S. regulators have collected approximately $31.92 billion in settlements from cryptocurrency companies.

British IT Engineer Sues Council Over Lost 8,000 Bitcoin

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James Howells, an IT engineer from Newport, UK, is suing Newport City Council for 495 million British pounds (approximately $647 million) after accidentally discarding a hard drive containing 8,000 Bitcoin.

According to WalesOnline, Howells has repeatedly sought permission from the council to retrieve the hard drive from a local landfill but has faced consistent rejection.

The drive, which was mistakenly thrown out during a household clearout in 2013, now holds Bitcoin valued at nearly half a billion pounds.

Howells has been trying to recover the lost hard drive for over a decade. The hard drive ended up in a landfill after he mistakenly placed it in a bin liner that was sent to a recycling center.

Back in 2013, the 8,000 BTC was worth about 1 million pounds (around $1.3 million), but its value has surged since then.

Howells has assembled a team of legal experts and filed a court claim, which is expected to be heard in December.

Despite offering Newport City Council 10% of the recovered Bitcoin’s value if the hard drive is found, the council has consistently denied his requests, citing environmental concerns.

The landfill in question has been flagged for violations of its environmental permit, including high levels of asbestos, arsenic, and methane. The council argues that excavating the site could cause harm to the surrounding environment and maintains that its operations follow strict protocols.

In 2022, Howells reportedly proposed an $11 million plan to recover the lost hard drive, involving the use of technology to locate it among 110,000 tonnes of garbage. The plan would come at no cost to the council, but Newport City Council continues to refuse, questioning the legality and feasibility of Howells’ efforts.

To avoid losing access to Bitcoin, it’s crucial to securely store hardware wallets, protect private keys offline, and back up recovery phrases in multiple secure locations.

Ex-FTX CEO Accuses US Government of Unfair Treatment Due to Him Supporting Republicans

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Ryan Salame, the former co-CEO of FTX Digital Markets, claimed that the U.S. government has unfairly targeted him due to his support for the Republican Party.

Salame made these statements during an appearance on The Tucker Carlson Show on October 10, a day after requesting a judge delay his self-surrender date by two months for medical reasons.

In his interview, Salame argued that he was unjustly charged with “campaign finance violations” for his donations to the Republican Party. He pointed out that other FTX executives, including former CEO Sam Bankman-Fried, who “helped get Biden elected,” were not charged with similar violations.

“Correct me if I’m wrong here. You have Sam Bankman-Fried, who’s in prison for a long time, but he’s not been charged with any campaign finance violations. He gave it to Democrats,” Salame said.

Although Salame has not been charged in connection with FTX’s collapse, he faces charges related to campaign finance violations after borrowing money from Alameda Research to make political contributions. Salame stated that he donated between $20 million and $30 million to Republican candidates.

Salame claimed his legal team had assured him that the borrowed funds were legal, but he was later accused of orchestrating a straw donor scheme, using company money to make contributions in others’ names.

He also questioned a second charge, which accused him of operating without a money-transmitting license.

Salame noted that Bankman-Fried had donated between $60 million and $70 million to Democratic candidates in the 2020 election but has not faced similar campaign finance charges.

Salame further alleged that federal prosecutors pressured him to plead guilty by threatening to investigate his child’s mother. He said, “They told me that if I pled guilty to these two crimes, they would not pursue my loved ones and look at anything that they had done or investigate them.”

He claimed that despite his plea deal, the government continued to pursue his family, breaking their agreement. Salame now plans to use this in an appeal, stating, “Because the government has now continued to pursue the mother of my child, despite saying that they wouldn’t if I pled guilty.”

Salame emphasized that none of Bankman-Fried’s family members have faced legal consequences and claimed the U.S. justice system prioritizes convictions over truth.

He has already spent about $6 million on legal fees.

On October 9, former Alameda Research CEO Caroline Ellison agreed to settle her case with FTX by turning over “substantially all of her assets,” according to court documents filed earlier that month.

Bitcoin Rallies as Higher-Than-Expected PPI Data Revealed

Bitcoin (BTC) edged closer to $61,500 as markets opened on October 11, showing resilience despite new inflation concerns in the United States.

Data from Cointelegraph Markets Pro and TradingView indicated Bitcoin reaching local highs of $61,476 on Bitstamp.

The latest U.S. macroeconomic data, the Producer Price Index (PPI), came in higher than expected at 1.8%, surpassing the forecast of 1.6%.

According to the Bureau of Labor Statistics (BLS), “the index for final demand less foods, energy, and trade services inched up 0.1 percent in September after rising 0.2 percent in August,” while prices for final demand excluding these sectors increased by 3.2% over the past 12 months.

This PPI increase joins the Consumer Price Index (CPI) in signaling growing inflationary pressures, posing further challenges for the Federal Reserve, which is already grappling with inflation.

Reacting to the PPI results, trading resource The Kobeissi Letter stated on X, “Both Core PPI and CPI inflation are now officially back on the rise. The Fed did not need a 50 basis point rate cut.”

While Bitcoin initially benefited from the Fed’s recent rate cut, crypto and risk assets began diverging this week, with stocks rising while Bitcoin and altcoins faced selling pressure.

The PPI print had a moderate impact on market expectations for the Fed’s next interest rate decision in November. According to CME Group’s FedWatch Tool, the likelihood of a smaller 0.25% rate cut stood at nearly 84%, while the chance of rates remaining unchanged was about 17%.

As for Bitcoin’s price action, analysts identified key levels to watch for potential resistance retests.

“Bitcoin reclaimed $60,600/800 overnight,” analyst Justin Bennett noted, referencing the recovery from $58,860 lows.

He added, “I never trust an Asia session pump, but if this holds, we could get that $62k retest.”

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