Author: Karikari Daniel

Article written by Karikari Daniel

The SEC faces setbacks but continues its aggressive crackdown on the crypto industry

July 12, 2024 2 mins read

The Securities and Exchange Commission (SEC) has faced numerous legal challenges, including a court sanction in Utah, during its tenure as chairman. Gary Gensler, who became SEC chairman in 2021, initially aimed to crack down on the crypto industry but quickly showed skepticism towards it. During his tenure, the SEC filed numerous lawsuits against major players like Coinbase, Binance, and Terraform Labs. While the SEC has won or settled several

Tron Network plans to introduce gas-free stablecoin transfers by Q4

July 8, 2024 1 min read

Tron founder Justin Sun has announced the development of a system to enable gas-free peer-to-peer (P2P) stablecoin transfers. This feature will cover the cost of transfers by the stablecoins themselves, eliminating gas fees for users. The feature will first be implemented on the Tron blockchain, with future support planned for Ethereum and all Ethereum Virtual Machine (EVM) compatible networks. Sun expects the launch in the fourth quarter of 2024. According

DeFi prediction platform Polymarket hits over $200 million in election bets

July 1, 2024 1 min read

Polymarket, a decentralized prediction platform, has accumulated more than $200 million in bets on the imminent US Presidential election, showcasing the incorporation of bitcoin into conventional financial norms. In June, the platform attained unprecedented levels of trading activity, reaching $111 million in trades. Analysts anticipate that by the end of the year, the platform’s trading volume might surpass $1 billion. The surge in volume also resulted in significant improvements in

Leading DeFi derivatives protocol, SynFutures, crosses $100 billion in cumulative trading volume on Blast

June 25, 2024 1 min read

SynFutures, the decentralized finance (DeFi) derivatives system, has recently surpassed $100 billion in total trading volume on Blast, achieving this milestone in a mere four months. According to Messari, the protocol was one of the first decentralized apps to be launched on Blast. It rapidly became the leading perpetual trading exchange on the network, accounting for 83% of Blast’s volume market share at the end of the first quarter. Since

Crypto Whales Buy $2,450,000,000 in Ethereum

June 18, 2024 1 min read

Crypto analyst Ali Martinez has reported that wealthy investors are amassing billions of dollars in Ethereum (ETH) due to its bullish signal on its daily chart. Over the past three weeks, Ethereum whales have purchased over 700,000 ETH, totaling around $2.45 billion. Martinez suggests that the Tom DeMark (TD) Sequential indicator, which identifies probable points of reversal for an asset, indicates a bounce for Ethereum. The TD Sequential has issued

DWF Labs has announced plans to purchase $12 million worth FLOKI tokens

June 4, 2024 1 min read

DWF Labs intends to acquire $12 million worth of FLOKI tokens from both the open market and the Floki treasury in order to bolster the project’s expanding ecosystem. This is in continuation of a prior pledge of $10 million in February, which resulted in a 50% increase in prices. The investment seeks to support the expansion of Floki’s ecosystem, which encompasses the imminent launch of their primary metaverse game, Valhalla,

FTX exchange sells remaining Anthropic shares for $450 million

June 3, 2024 2 mins read

FTX crypto exchange is now liquidating assets in order to reimburse previous clients, which includes the sale of its remaining interests in the artificial intelligence firm, Anthropic. A total of 15 million shares were sold at a price of $30 per share, resulting in a revenue of more than $452 million. G Squared, a venture capital company, purchased about one-third of the shares for $135 million. Additional purchasers included Fund

Velocore DEX suffers a $10 million loss in a major hack

June 3, 2024 2 mins read

Velocore, a decentralized exchange (DEX) operating on the zkSync and Linea blockchains, has had a security breach, leading to a financial loss of around $10 million. The hackers conducted a transfer of more than 700 ETH to the Ethereum mainnet, therefore emphasizing the persistent security concerns within the crypto industry. The hack was first disclosed by a threat researcher as “Officer’s Notes,” who identified the security vulnerabilities inside the cryptocurrency

This Bitcoin advocate raises concerns about the rising political support for crypto

May 27, 2024 1 min read

The rise in governmental support for crypto worries bitcoin supporter Samson Mow. He cautions that this excitement may cause problems without a solid knowledge of Bitcoin’s distinctive qualities. Many lawmakers don’t distinguish between Bitcoin and other crypto, which worries Mow. Bitcoin’s decentralization, permissionlessness, and censorship resistance make it unique. Grouping all digital currencies under ‘crypto’ may lead to bad policy and regulatory choices that don’t meet Bitcoin’s demands. Mow wants

Coinbase has filed an interlocutory appeal against the SEC, accusing the Commission of bypassing the Howey test

May 26, 2024 2 mins read

Coinbase filed an interlocutory appeal against the SEC for skipping the Howey test for securities. Recent legislation, notably FIT21, shows the US SEC’s overreach, the exchange says. Coinbase’s Chief Legal Officer, Paul Grewal, called for clear laws and blasted the SEC’s inconsistencies. Coinbase is using congressional politics to influence its SEC appeal. Coinbase said the SEC “side-stepped” the Howey test in a May 24 court filing. The crypto sector and

DefiLlama Co-Founders Part Ways Over Dispute on Crypto Token Launch

March 20, 2023 1 min read

Decentralized finance (DeFi) data website DefiLlama has become embroiled in a leadership dispute after a single team member attempted to launch a crypto token without wider approval. The controversy has led to the creation of a second, almost identical, site at llama.fi, and allegations of a “hostile takeover.” The dispute centers on a team member identified only as 0xLlam4, who is reportedly attempting to launch the token against the wishes

ArenaDAO’s Governance Token Skyrockets Nearly 50% After Successful Vote on Paradigm Purchase

March 17, 2023 1 min read

ArenaDAO’s governance token, ARENA, has experienced an 11.12% increase in the past hour and a whopping 48.99% surge in the past 24 hours, as the voting period for authorizing crypto investment firm Paradigm to purchase 150 million tokens or 15% of the total supply for $6 million USDC opened. The fully diluted valuation or market capitalization of all tokens in circulation currently stands at $79.8 million, according to Dex Screener,