Author: Andrei Ionescu
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Hashdex’s proposed exchange-traded fund (ETF) designed to hold spot bitcoin and ether. The agency has extended the timeline for evaluating the ETF application until September 30, 2024, according to a filing released on Friday. In its statement, the SEC noted that the extension is necessary to allow sufficient time to consider the proposed rule change and address the issues raised. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change,” the SEC said. Hashdex initially filed its registration…
This development marks a significant milestone in Ripple’s ongoing efforts to enhance the utility of its platform, offering high-quality assets and expanding opportunities for liquidity and institutional use cases. According to an official blog post from Ripple, the company is conducting rigorous testing of RLUSD in collaboration with its enterprise partners. The beta phase is essential for ensuring that the stablecoin meets the highest standards of security, efficiency, and reliability. Ripple emphasized that RLUSD is not currently available for purchase or trading as it awaits regulatory approval. Ripple USD is designed to maintain a 1:1 value with the US dollar…
SEC subpoenas three crypto VCs in sign crackdown is gaining pace. The US Securities and Exchange Commission has subpoenaed at least three crypto venture capital firms this year, according to a source familiar with the SEC’s investigation. One subpoena was titled “in the matter of certain crypto asset offering intermediaries,” per the first page viewed. “The staff of the United States Securities and Exchange Commission is conducting an investigation relating to the above-referenced matter to determine if violations of the federal securities laws may have occurred,” the page read. The SEC’s investigation of crypto VCs signals that the agency is…
Stablecoin firm Tether is set to double its existing workforce to around 200 employees by mid-2025, according to CEO Paolo Ardoino. The company has historically operated with a streamlined team, currently consisting of just over 100 employees across more than 50 countries, Ardoino told. That’s despite issuing the largest stablecoin, USDT, which has a market capitalization of $115.4 billion, “This approach allows us to optimize operations through technology and external partnerships, focusing on our core competencies to deliver exceptional value to our customers,” Ardoino said. However, amid substantial growth that saw Tether generate a record $5.2 billion profit in the…
The Trump family is set to make a significant splash in the cryptocurrency world, according to Donald Trump Jr., who recently hinted at an upcoming blockchain venture that promises to be “much bigger” than just another memecoin. In a recent interview on Locals, a subscription-based platform for creators, Trump Jr. revealed that the Trump family’s crypto initiative will offer something distinctly different from the memecoins that have become commonplace. He emphasized that the project will involve a “very different kind of platform.” This announcement comes amid ongoing speculation about a potential Trump-related memecoin. Rumors have swirled ever since the former…
OKX CEO Star Xu has reiterated the exchange’s stance on terminating user accounts linked to sanctioned entities, including Tornado Cash and Garantex, in response to complaints from a prominent influencer. In a statement posted on X, Star Xu emphasized that OKX will close accounts found to be interacting with sanctioned entities. This includes depositing funds from or withdrawing funds to such entities, which will trigger the exchange’s compliance risk controls. Xu specifically mentioned Tornado Cash, a decentralized mixer, and Garantex, a Russian exchange, as examples of entities that are subject to these sanctions. Xu’s comments follow a public complaint from…
A memecoin experienced a dramatic rise and fall on Thursday following false claims of a connection to former President Donald Trump. The incident, which appears to be part of a “pump and dump” scheme, comes a day after Trump’s sons, Donald Trump Jr. and Eric Trump, issued warnings about fake tokens on social media. The memecoin Restore the Republic (RTR) saw its value surge and then plummet on Thursday after misleading claims circulated on social media that it was linked to former President Donald Trump. The price of RTR skyrocketed from $0.0005 to $0.1460 within hours, driven by false claims…
Do Kwon’s extradition from Montenegro has been postponed once more, despite an earlier appellate court decision favoring his return to South Korea. The delay, requested by Montenegro’s Supreme Court and supported by the country’s top prosecutor, underscores ongoing diplomatic conflicts between South Korea and the U.S. over the Terraform Labs co-founder. Do Kwon’s extradition from Montenegro has been delayed again, with the latest postponement coming after an appellate court decision last week that appeared to finalize his extradition to South Korea. The delay was requested by Montenegro’s Supreme Court and endorsed by Minister of Justice Andrej Milović, according to local…
Pacmoon ($PAC), the largest memecoin by market cap on the Blast network, is transitioning from the Ethereum Layer-2 blockchain to Solana, and will rebrand as $ARMY. This move comes as the team expresses dissatisfaction with the current platform and aims to capitalize on Solana’s growing popularity in the memecoin space. Pacmoon, a leading memecoin on the Blast network, announced its departure from the Ethereum Layer-2 blockchain for Solana in a statement released on X (formerly Twitter) today. The migration will also involve a rebranding of the memecoin to a new token, $ARMY. The decision to leave Blast was driven by…
Japanese investment firm Metaplanet Inc. has secured a $6.8 million loan to increase its Bitcoin holdings, reflecting its bullish stance on the cryptocurrency’s future. The announcement comes amid strategic financial maneuvers and market volatility. Metaplanet Inc., a Tokyo-listed investment firm, has taken out a 1 billion yen ($6.8 million) loan with a remarkably low annual interest rate of 0.1%. The firm announced today that the majority of these funds will be directed toward purchasing additional Bitcoin, underscoring its confidence in the cryptocurrency’s long-term value. In a statement, Metaplanet outlined its strategy: “We plan to allocate nearly the entire loan amount…