Recently, the US Securities and Exchange Commission (SEC) charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. The SEC charges are related to Galois Capital allegedly failing to comply with client asset safeguarding requirements, particularly crypto that the regulator labeled as
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Bitcoin’s recent price fluctuations, from a high of $59,076 to a low of $57,127, showcase the volatility of the cryptocurrency market. The looming threat of a US recession has added a layer of tension to financial markets, impacting the trajectory of Bitcoin. The Federal Reserve’s upcoming FOMC meeting on September 17-18, 2024, has intensified the
Bitcoin’s price slipped to below $56,000, triggering concerns among investors about its future trajectory. According to Arthur Hayes, co-founder of BitMEX, the largest cryptocurrency could decline even further to $50,000 in a worst-case scenario. Hayes’ bearish outlook extends to altcoins as well, with the potential for steeper losses looming on the horizon. The broader macroeconomic
Despite the completion of the highly anticipated Chang upgrade on Cardano’s Layer-1 blockchain, the price of ADA has experienced a significant drop. The Chang hardfork brought crucial changes to the Cardano ecosystem, including the introduction of on-chain voting, Delegate Representatives, enhanced smart contract capabilities, and a new governance structure with cost model improvements. ADA holders
The recent charges levied by the U.S. Securities and Exchange Commission against Galois Capital, a crypto-focused advisory firm that custodied client assets at FTX, have highlighted significant shortcomings in the firm’s practices. In response to the SEC’s findings, Galois has agreed to pay a civil penalty of $225,000, which will be distributed to investors who
WazirX has initiated phase two of its fiat currency withdrawal process ahead of schedule, starting on Sept. 3 instead of the previously announced date of Sept. 9. This development comes in the wake of a security breach that resulted in the theft of over $230 million in user assets. CEO Nishal Shetty took to social
Ripple’s University Blockchain Research Initiative (UBRI) program has recently welcomed South Korea’s Yonsei University as its newest partner. This partnership marks the addition of the 58th institution to Ripple’s global network of UBRI collaborations, with a notable 12 of them situated in the Asia Pacific region. Yonsei University will embark on a long-term journey to
Samuel Edyme, known by his nickname HIM-buktu, is a multifaceted individual making waves in the world of web3 content creation, journalism, and trading. His journey into the realm of cryptocurrency was not a smooth one, starting with a Ponzi scheme that initially led him astray. However, instead of being deterred by this setback, Edyme used
The anticipation surrounding the release of Rebel Skies, developed by Faraway Games, is palpable in the mobile gaming community. This new game, set to launch in October 2024, is not just another addition to the plethora of mobile titles available. Rebel Skies aims to revolutionize the mobile gaming landscape by incorporating elements of action, real-time
The Ethereum market is experiencing a significant shift as rising exchange reserves indicate a potential new distribution phase. CryptoQuant’s Ethereum Exchange Reserve metric, which monitors the amount of ETH held in exchange wallets, has shown an increase. This rise suggests that traders are transferring their ETH to exchanges in preparation for selling, potentially increasing supply
