🚀 RavenQuest Phase 2 Now Open To All On Immutable
#RavenQuest #Phase2 #Immutable #gaming #blockchain #IMX
According to Odaily, Immutable has announced that RavenQuest is now accessible to everyone. The Phase 2 of the game has been launched on the Immutable platform.#RavenQuest #Phase2 #Immutable #gaming #blockchain #IMX
🚀 Tron Network Accounts Surpass 260 Million
#TronNetwork #TRON #Blockchain #Crypto #Cryptocurrency #TVL #Accounts #Transactions #ForesightNews #TRX
According to Foresight News, data from TRONSCAN reveals that the total number of accounts on the Tron network has exceeded 260 million, reaching 260,130,540. The total number of accounts represents the sum of all activated account addresses on the Tron network. Currently, the number of transactions on the Tron network has surpassed 8.54 billion, and the total value locked (TVL) exceeds $20 billion.#TronNetwork #TRON #Blockchain #Crypto #Cryptocurrency #TVL #Accounts #Transactions #ForesightNews #TRX
🚀 ASIC To Update Guidelines For Crypto Asset Classification
#ASIC #CryptoAssets #FinancialServices #RegulatoryFramework #ConsumerProtection #MarketIntegrity #CryptoLicensing
According to BlockBeats, on September 23, Alan Kirkland, a commissioner of the Australian Securities and Investments Commission (ASIC), stated at the AFR Digital Asset Summit that many crypto asset companies will need to obtain financial services licenses under the Corporations Act.
ASIC believes that some crypto assets should be classified as financial products. However, due to the misalignment between the crypto sector and the current regulatory framework, there is uncertainty. To address this, ASIC plans to update its guidelines by November to clarify the classification and handling of relevant crypto tokens.
Kirkland emphasized that ASIC is focused on potential consumer harm and market misconduct. He noted that the licensing system would help mitigate risks, build consumer trust, and protect market integrity.#ASIC #CryptoAssets #FinancialServices #RegulatoryFramework #ConsumerProtection #MarketIntegrity #CryptoLicensing
🚀 Odaily's Official X Account Hacked, Urgent Recovery Underway
#Odaily #hacked #socialmedia #cybersecurity #accountrecovery #Xaccount #urgent #safetyadvice
According to Odaily, the official X account of Odaily Star Daily (@OdailyChina) was hacked early this morning around 2 AM on September 23. The team is currently working urgently to appeal and recover the account. From September 23 onwards, any content posted on this account is not operated by Odaily Star Daily. Users are advised not to trust any direct messages or click on unfamiliar links. Once the account's permissions are restored and security checks are completed, an official announcement will be made on the website. We apologize for any inconvenience caused.#Odaily #hacked #socialmedia #cybersecurity #accountrecovery #Xaccount #urgent #safetyadvice
🚀 Polkadot Launches Agile Coretime Solution
#Polkadot #AgileCoretime #blockchain #Web3 #decentralization #innovation #blockspace #costeffective #DOT
According to PANews, Polkadot has officially launched Agile Coretime following the approval of referendum 1161. Agile Coretime is designed to address core blockchain issues by introducing a new method for utilizing block space. This innovation aims to make blockchain resources more predictable, flexible, and cost-effective while maintaining the security and decentralization required for Web3 projects.#Polkadot #AgileCoretime #blockchain #Web3 #decentralization #innovation #blockspace #costeffective #DOT
🚀 OpenSea Faces Class-Action Lawsuit Over Alleged Unregistered Securities Sales
#OpenSea #classactionlawsuit #NFT #unregisteredsecurities #SEC #BoredApeYachtClub #HoweyTest #investmentcontracts #cryptocurrency #lawfirm
According to Cointelegraph, two OpenSea users have filed a class-action lawsuit in the United States against the NFT marketplace, alleging it sells unregistered securities contracts. Anthony Shnayderman and Itai Bronshtein filed the suit on September 19 in a Florida federal court, claiming that NFTs they purchased on OpenSea, including those from the Bored Ape Yacht Club collection, are worthless due to their illegal nature.
The plaintiffs pointed to OpenSea’s recent disclosure of a Wells notice from the Securities and Exchange Commission (SEC), which they argue indicates that OpenSea may be liable for facilitating the exchange of unregistered securities. A Wells notice is a warning that the SEC has conducted an investigation and may bring an enforcement action against the recipient. The lawsuit also references successful SEC actions against NFT projects Stoner Cats 2 and Impact Theory, where the regulator deemed the NFTs as unregistered securities sales.
Shnayderman and Bronshtein argue that the Howey test, which defines securities, shows that the NFTs they bought on OpenSea were investment contracts under US securities laws. They allege that these NFTs represented an investment in a common enterprise with a reasonable expectation of profits derived from the efforts of others. The suit claims that OpenSea’s NFT listings were deceptive and misled the plaintiffs into purchasing worthless and unlawful unregistered securities. It also alleges that OpenSea breached a user warranty by failing to moderate its exchange for unregistered securities.
Additionally, the plaintiffs accuse OpenSea of unjust enrichment by charging fees and accepting funds from the sale of unregistered securities. In a statement, Adam Moskowitz, managing partner of The Moskowitz Law Firm and counsel for Shnayderman and Bronshtein, emphasized the need for a well-regulated environment for selling NFTs. He expressed a willingness to work with OpenSea to develop a better process for both consumers and the crypto industry. OpenSea has not yet responded to a request for comment.#OpenSea #classactionlawsuit #NFT #unregisteredsecurities #SEC #BoredApeYachtClub #HoweyTest #investmentcontracts #cryptocurrency #lawfirm
🚀 SEC Approves Nasdaq's Listing Of BlackRock's Bitcoin ETF Options
#SEC #Nasdaq #BlackRock #BitcoinETF #iSharesBitcoinTrust #cryptocurrency #derivatives #investors #marketvolatility #financialmarkets
According to PANews, the U.S. Securities and Exchange Commission (SEC) has approved a rule change allowing the Nasdaq International Securities Exchange to list and trade options for BlackRock's spot Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT). This decision marks a significant step in expanding the range of Bitcoin-related derivative products, providing investors with additional tools to manage exposure to the world's largest cryptocurrency.
Since the approval of several Bitcoin-related ETFs in the U.S., BlackRock has been seeking approval for such listings at least since March of this year. The SEC's approval follows several amendments submitted by Nasdaq ISE, aimed at addressing concerns about manipulation and excessive risk in the emerging crypto options market.
The IBIT options will be physically settled and employ an American exercise style, offering hedging services for investors looking to manage Bitcoin-related risks. Despite the approval, the SEC's move stems from ongoing concerns about the potential risks associated with cryptocurrency derivatives. Comments submitted during the review process highlighted worries about market volatility and the broader integration of cryptocurrencies with traditional financial markets. Some urged the SEC to delay approval until the Bitcoin market stabilizes further. Nonetheless, the SEC found that the exchange's surveillance mechanisms, including real-time monitoring and cross-market surveillance sharing agreements with the Chicago Mercantile Exchange, are sufficient to prevent manipulation.#SEC #Nasdaq #BlackRock #BitcoinETF #iSharesBitcoinTrust #cryptocurrency #derivatives #investors #marketvolatility #financialmarkets
🚀 Orderly Network Schedules Upgrade On September 24
#OrderlyNetwork #Upgrade #Web3 #LiquidityLayer #Downtime #ScheduledUpgrade #XPlatform
According to PANews, Web3 liquidity layer Orderly Network has announced a planned upgrade on the X platform. The upgrade is scheduled to take place on September 24 from 14:00 to 16:00 UTC+8. The expected downtime for this upgrade is approximately two hours.#OrderlyNetwork #Upgrade #Web3 #LiquidityLayer #Downtime #ScheduledUpgrade #XPlatform
🚀 Chainbase And Google Cloud Collaborate On AI And Web3 Initiative
#Chainbase #GoogleCloud #AI #Web3 #Token2049 #BigQuery #DataAnalytics #Blockchain #DigitalFuture #MultiChain #Developers
According to BlockBeats, on September 23, blockchain data network Chainbase and Google Cloud successfully hosted a seminar titled 'AI and Web3: Building a Trusted Digital Future' during Token2049 in Singapore.
During the event, Chainbase unveiled its new product, Chainbase Dataset, developed in collaboration with Google Cloud and based on BigQuery. BigQuery is a fully managed, AI-supported data analytics platform provided by Google Cloud.
This partnership enables over 300 real-time updated multi-chain datasets from the Chainbase Data Platform to directly serve the 7 million developers and enterprise users on the BigQuery platform, facilitating the implementation of on-chain intelligent applications. Currently, the Chainbase Data Platform supports the development of more than 10,000 products, with over 20,000 developers within its ecosystem.#Chainbase #GoogleCloud #AI #Web3 #Token2049 #BigQuery #DataAnalytics #Blockchain #DigitalFuture #MultiChain #Developers
🚀 BNB Surpasses 590 USDT with a 1.87% Increase in 24 Hours
#BNB #USDT #cryptocurrency #Binance #marketdata #trading #increase
On Sep 23, 2024, 06:59 AM(UTC). According to Binance Market Data, BNB has crossed the 590 USDT benchmark and is now trading at 593.599976 USDT, with a narrowed 1.87% increase in 24 hours.#BNB #USDT #cryptocurrency #Binance #marketdata #trading #increase
🚀 Ethereum(ETH) Surpasses 2,600 USDT with a 2.88% Increase in 24 Hours
#Ethereum #ETH #Binance #USDT #cryptocurrency #priceincrease
On Sep 23, 2024, 06:59 AM(UTC). According to Binance Market Data, Ethereum has crossed the 2,600 USDT benchmark and is now trading at 2,654.97998 USDT, with a narrowed 2.88% increase in 24 hours.#Ethereum #ETH #Binance #USDT #cryptocurrency #priceincrease
🚀 Argentine Authorities Dismantle Major Bitcoin Mining Smuggling Ring
#Argentina #Bitcoin #Mining #Smuggling #Crypto #MoneyLaundering #TaxEvasion #LawEnforcement #Operation #BTC
According to Odaily, Argentine tax and naval security officials have successfully dismantled a significant Bitcoin mining smuggling ring. The Argentine Naval Prefecture, in collaboration with the national tax agency AFIP, conducted multiple raids as part of a coordinated large-scale operation. Following the raids on six residential properties in two cities, four individuals—two men and two women—were arrested. Authorities confirmed that all four have been formally charged with smuggling and money laundering-related offenses.
Officials revealed that the criminal group smuggled hundreds of high-end mobile phones, graphics cards, and cryptocurrency mining components into the country. They allegedly used 'crypto investments' to launder money and conceal profits from authorities. Under Argentine law, only licensed companies are permitted to import specialized cryptocurrency mining equipment. Police also released photos of armed personnel standing in front of a clothing store, suggesting that the group may have used a small shop as a front and a temporary warehouse to store the illegal mining equipment.#Argentina #Bitcoin #Mining #Smuggling #Crypto #MoneyLaundering #TaxEvasion #LawEnforcement #Operation #BTC
🚀 Australia To Require Financial Services Licenses For Crypto Exchanges
#Australia #CryptoExchanges #FinancialServicesLicense #Regulation #ASIC #DigitalAssets #Cryptocurrency #Bitcoin #Ether #CorporationsAct #CryptoRegulation #Finance
According to Cointelegraph, Australian regulators are preparing new legislation to mandate cryptocurrency exchanges to obtain financial services licenses. The Australian Financial Review (AFR) reported that the licensing requirements for crypto exchanges in Australia will extend beyond those related to digital currency exchanges.
Alan Kirkland, commissioner of the Australian Securities and Investments Commission (ASIC), stated that the new requirements are necessary because the Corporations Act encompasses most major crypto assets like Bitcoin (BTC) and Ether (ETH). Kirkland disclosed the authority’s plans at the AFR Crypto and Digital Assets summit in Sydney on September 23.
The ASIC is set to update the Corporations Act’s Information Sheet 225 to provide more clarity on how specific crypto tokens and certain products should be treated from a regulatory perspective. Kirkland mentioned that a significant number of crypto asset firms in the Australian market are likely to need a license under the current law, as many widely traded crypto assets are considered financial products.
The updated legislation is expected to be issued by November 2024. This is a developing story, and further information will be added as it becomes available.#Australia #CryptoExchanges #FinancialServicesLicense #Regulation #ASIC #DigitalAssets #Cryptocurrency #Bitcoin #Ether #CorporationsAct #CryptoRegulation #Finance
🚀 Bitcoin Price Recovery Linked To Increased Stablecoin Minting
#Bitcoin #Stablecoins #Cryptocurrency #PriceRecovery #Matrixport #FiatCurrency #CryptoMarket #Minting #BTC
According to Odaily, Matrixport has released new data indicating that as Bitcoin prices recover, the minting rate of stablecoins is also accelerating. This trend suggests a steady inflow of fiat currency into the cryptocurrency market. Although the seven-day minting ratio still shows some fluctuations, the current inflow of funds has significantly increased compared to the weaker period earlier this summer. This trend is a positive signal for the crypto market, implying that as long as the entry channels for stablecoins remain open, Bitcoin prices are likely to continue rising.#Bitcoin #Stablecoins #Cryptocurrency #PriceRecovery #Matrixport #FiatCurrency #CryptoMarket #Minting #BTC
🚀 Crypto Market Sees Modest Gains As Major Conferences Conclude
#Crypto #Bitcoin #Ethereum #Solana #MOTHER #Token2049 #Breakpoint #Trading #InterestRateCut #DigitalAssets #MarketTrends #Polymarket #CoinDesk #SOL #PENDLE
According to CoinDesk, Monday marked a slow start to the Asia trading week with Bitcoin (BTC) up 1.2% and Ethereum (ETH) up 2.6%. Solana's memecoin MOTHER, created by music star Iggy Azalea, saw a 4% increase following its strong presence at the Breakpoint conference in Singapore.
ETH outperformed BTC in daily gains as Token 2049 and Solana's Breakpoint, two significant crypto conferences, concluded in Singapore. Despite these gains, both tokens remained relatively flat in a stagnant market. ETH is trading above $2,600, while BTC is trading above $63,700. The CoinDesk 20 (CD20), which measures the performance of the largest digital assets, is up less than 1%.
Data from CoinGlass indicates that in the last 12 hours, more short positions than long positions have been liquidated, with $64.23 million in shorts and $54.42 million in longs being liquidated. Trading activity is light following last week's 50 basis points (bps) interest rate cut. BTC has risen 9.5% over the past week, while ETH has increased by over 16%. Polymarket bettors are divided on the likelihood of another rate cut, with 47% predicting a 50 bps cut and another 47% expecting a 25 bps cut.
Solana (SOL), which was the focus of the Breakpoint conference, is trading above $145 and remains flat. Attendees were impressed with announcements from the protocol, including Jump Crypto's validator going live. Pendle, a portfolio company of Arthur Hayes' fund Maelstrom, is down over 6.5%. Traders are concerned that Maelstrom has reduced its position in the project after Hayes promoted it in Singapore. Hayes stated that the reduction was to gain liquidity for a #Crypto #Bitcoin #Ethereum #Solana #MOTHER #Token2049 #Breakpoint #Trading #InterestRateCut #DigitalAssets #MarketTrends #Polymarket #CoinDesk #SOL #PENDLE
🚀 Terminus Token Sees Significant Surge in Value
#TerminusToken #ElonMusk #MarsCity #Crypto #Blockchain #Investment #MEME #MarketCap #TradingVolume
According to BlockBeats, on September 23, the MEME concept token TERMINUS, themed around Elon Musk's 'First Mars City Naming,' experienced a notable increase in value. The token briefly surpassed $0.24 and is currently priced at $0.2272, marking a 24-hour increase of 66.88%.
The current market capitalization of TERMINUS stands at approximately $22.68 million, with a 24-hour trading volume nearing $8 million.#TerminusToken #ElonMusk #MarsCity #Crypto #Blockchain #Investment #MEME #MarketCap #TradingVolume
🚀 Digital Assets Show High Correlation With US Stock Market
#DigitalAssets #StockMarket #Cryptocurrency #FederalReserve #InterestRates #EconomicTrends #S&P500 #Correlation #MonetaryEasing #MarketAnalysis
According to PANews, a recent study by Bloomberg reveals that the correlation between digital assets and the US stock market has reached near-record levels. This indicates that the macroeconomic variables influencing the stock market are also impacting the cryptocurrency market. Data compiled by Bloomberg shows that the 40-day correlation coefficient between the top 100 digital assets and the S&P 500 Index is approximately 0.67. This level was only surpassed in the second quarter of 2022, when it reached 0.72. A coefficient of 1 indicates that the assets move in perfect unison, while a coefficient of -1 indicates they move in completely opposite directions.
Last week, the Federal Reserve significantly cut interest rates by 50 basis points, initiating the anticipated monetary easing cycle. Caroline Mauron, co-founder of digital asset derivatives trading liquidity provider Orbit Markets, stated, 'Macroeconomic factors are currently driving cryptocurrency prices up, and this trend is expected to continue throughout the Federal Reserve's easing cycle, unless we see a cryptocurrency-specific black swan event.'
This week's focus will be on comments from Federal Reserve officials and the release of the US Personal Consumption Expenditures (PCE) Price Index. Sean McNulty, head of trading at liquidity provider Arbelos Markets, commented, 'We believe that the speakers are more important than the PCE inflation data because the market is currently trying to understand the Federal Open Market Committee's (FOMC) reaction function.'#DigitalAssets #StockMarket #Cryptocurrency #FederalReserve #InterestRates #EconomicTrends #S&P500 #Correlation #MonetaryEasing #MarketAnalysis
🚀 SlowMist Launches Comprehensive Incident Response Service for Web3 Projects
#SlowMist #IncidentResponse #Web3 #BlockchainSecurity #SecurityService #AssetTracking #OnChainAnalysis #OffChainAnalysis
According to Foresight News, blockchain security firm SlowMist has announced the launch of its incident response service tailored for Web3 projects. This new service encompasses a wide range of incident response activities, including in-depth on-chain and off-chain analysis and the tracking of stolen assets. The initiative aims to enhance the security of Web3 projects and prevent future incidents.#SlowMist #IncidentResponse #Web3 #BlockchainSecurity #SecurityService #AssetTracking #OnChainAnalysis #OffChainAnalysis
🚀 Canada Shifts Focus Away From Retail CBDC Development
#Canada #CBDC #DigitalCurrency #BankOfCanada #RetailCBDC #PaymentsSystem #PublicConsultation #DigitalDollar #PrivacyConcerns
According to CoinDesk, Canada has announced a shift in its focus away from developing a retail central bank digital currency (CBDC). The Bank of Canada stated that while it is scaling down its work on a retail CBDC, it remains prepared to revisit the idea if there is future demand from the public. This decision follows years of research into the feasibility of a digital Canadian dollar.
CBC News, Canada's public broadcaster, reported that the Bank of Canada confirmed it is shelving the idea of a digital Canadian dollar for now. The central bank's official statement indicated that it is redirecting its efforts towards broader payments system research and policy development. Despite this shift, the Bank of Canada will continue to monitor global developments in retail CBDCs and publish related research. Additionally, there will be opportunities for Canadians to provide input on the potential for a digital dollar in the future.
The Bank of Canada's latest position comes amid ongoing debates over CBDCs, including in the United States, where it has become a topic of discussion in the presidential election. Federal Reserve Chair Jerome Powell has stated that the U.S. is not close to recommending or adopting a CBDC, suggesting that the public need not worry about its immediate implementation.
The update from the Bank of Canada follows a staff discussion paper released less than three months ago, which highlighted the potential decline in the relevance of cash and suggested that a properly designed CBDC could help maintain the relevance of retail public money in the economy. At the end of 2023, the Bank received nearly 90,000 responses to a public consultation paper, with many respondents expressing privacy concerns.#Canada #CBDC #DigitalCurrency #BankOfCanada #RetailCBDC #PaymentsSystem #PublicConsultation #DigitalDollar #PrivacyConcerns
🚀 TON Network Shows Significant Growth Since 2021, Analyst Reports
#TONNetwork #Cryptocurrency #MarketCapitalization #Tokenomics #Scalability #Telegram #Liquidity #SpeculativeBehavior #MarketValuation
According to Odaily, CryptoQuant analyst Shiven Moodley recently shared insights on the X platform regarding the TON Network's performance since August 2021. Moodley highlighted the network's significant growth, attributing its scalability to its high throughput. The collaboration with the Telegram instant messaging platform has further propelled its development.
Moodley pointed out a noticeable gap between the market capitalization and the circulating supply of TON tokens. This discrepancy suggests that a substantial portion of the tokens might be locked or held for the long term, impacting the network's liquidity. Despite this, there remains a general correlation between market capitalization and circulating supply, indicating that most of the circulating supply is indeed factored into the market valuation.
Moodley recommended using the average market capitalization to price ratio as a proxy indicator for speculative behavior. He explained that deviations between market capitalization and price might signal that the token's valuation is diverging from fundamental metrics, whereas a close alignment between the two suggests a more rational market valuation.#TONNetwork #Cryptocurrency #MarketCapitalization #Tokenomics #Scalability #Telegram #Liquidity #SpeculativeBehavior #MarketValuation