Author: Mohammed Ali

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Mohammed Ali

Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.

Articles by Mohammed Ali

Ripple and the SEC reach the final stage of their legal battle, with the court set to decide on key issues

1 day ago 2 mins read

Ripple Labs and the SEC are at a key point in their legal battle. The SEC’s latest court brief is the last statement before Southern District of New York Judge Analisa Torres resolves this important case’s remedies. The SEC responded to Ripple’s request to seal financial papers and other evidence in a detailed reply on May 20, 2024. The SEC strongly opposes Ripple’s move to withhold financial facts and contractual clauses crucial to the Court’s remedy determination in its letter to Judge Torres. Public access to court papers is essential for openness and accountability, and the SEC supports it. The

Coinbase exchange consumers are frustrated with its frequent disruptions

1 week ago 1 min read

Coinbase exchange consumers are frustrated with its frequent disruptions. Borovik’s statement mirrors a prevalent sentiment: Coinbase’s customers anticipate greater dependability. In March, when Bitcoin was at record highs, some users’ account balances were presented as zero, prompting panic. The event was soon fixed and restricted to display faults, but it damaged user confidence. The February downtime, induced by a traffic increase when Bitcoin reached $60,000, led many users to experience transaction failures. Reports of zero balances worsened the situation, but Coinbase assured customers that their money were safe and that the difficulties were being rectified quickly. These occurrences demonstrate the

JP Morgan and Wells Fargo reveal investments in Bitcoin ETFs, signaling growing bank interest

1 week ago 1 min read

JP Morgan and Wells Fargo recently disclosed their stakes in Bitcoin ETFs, showcasing the growing acceptance of the cryptocurrency by well-established financial organizations. On May 10, prominent financial institutions revealed these assets in their 13F filings, demonstrating a consistent pattern of embracing Bitcoin. JP Morgan allocated a total of $731,246 towards various Bitcoin exchange-traded funds (ETFs), including a specific investment of $477,425 in BlackRock’s IBIT. Wells Fargo acquired $141,817 worth of Grayscale’s GBTC. BNP Paribas and BNY Mellon made similar investments in previous files, suggesting a consistent trend in the business. The head of digital assets at BlackRock reports an

THORChain’s native token, RUNE, surges by over 15% in the past 24 hours to $6.10

2 weeks ago 1 min read

While the global crypto market is falling, THORChain, the liquidity protocol native token RUNE, rose 15% in 24 hours from $5.35 to $6.10, ranking first. Trading between $4.95 and $5.54 all week, the token was stable. RUNE bulls recovered impetus as crypto market volatility increased and large-cap altcoins grabbed the decline, pushing its price up 21% in seven days. A 39% fall to $4.39 followed RUNE’s failure to break the $7.23 resistance level, but it stabilized. It struggled to stay over $4.85 due to volatility. RUNE then oscillates between $4.87 and $5.76, nearing resistance. THORChain has a $1.98 billion market

Mantle (MNT) surges over 40% in the last 24 hours, hitting new all-time highs

2 months ago 1 min read

Mantle (MNT) is a blockchain operating at Layer 2 (L2) that has had a significant increase of 40% during the last 24 hours, hitting its highest value ever at $1.49. Mantle Network functions as a scaling solution for Ethereum Virtual Machine (EVM) that is compatible with Optimistic rollups, enabling speedy and economical transactions. The modular architecture of the system integrates Optimistic rollups with a distinct data availability layer, resulting in decreased transaction costs and enhanced network efficiency. The current increase in MNT may be ascribed to the implementation of MNT staking, which entails users contributing to the security and functioning

The US SEC considers classifying Ethereum as security; probes into Foundation intensify

2 months ago 1 min read

The US SEC is considering labeling Ethereum (ETH) as a security token, following a report by Fortune. Meanwhile, investigations are targeting the Ethereum Foundation for alleged illegal actions. According to CoinDesk, the Foundation received a confidential inquiry from an unknown regulatory authority, but the details remain under wraps. Additionally, online investigator Boringsleuth hinted at the Foundation’s involvement in the 2016 Gatecoin hack on X, where 185,000 Ethereum and 250 Bitcoin were lost. Also, blockchain analysis suggests the stolen funds ended up in a wallet tied to the Foundation. An independent law firm is also investigating the Foundation’s alleged link to

Grayscale pushes for the first spot in Ethereum ETF despite facing regulatory hurdles

2 months ago 1 min read

Grayscale intends to introduce a spot Ethereum ETF and has submitted an updated application to the US Securities and Exchange Commission (SEC). The company contends that the triumph of Ethereum futures ETFs bolsters the argument for a direct Ethereum ETF. The objective of Grayscale’s proposal is to transform its Ethereum Trust into an Exchange-Traded Fund (ETF) that may be traded on NYSE Arca. The company then presents the SEC’s previous endorsement of Ethereum futures ETFs, the successful monitoring of the market by the Chicago Mercantile Exchange, and the study of correlations by Coinbase as proof of their ability to handle

Ethereum announces Dencun upgrade is officially live on all testnets

3 months ago 1 min read

The Ethereum Foundation has announced that the Dencun network upgrade is set to go live on the Ethereum mainnet on March 13, 2024. The upgrade, which follows the Shapella upgrade, includes major changes to both the consensus and execution layers of Ethereum Network, detailed in EIP-7569. Some important changes to the protocol include: EIP-1153 for transient storage opcodes, EIP-4788 for beacon block root in the EVM, EIP-4844 for shard blob transactions, EIP-5656 for memory copying instruction. Plus, EIP-6780 for SELFDESTRUCT only in the same transaction, EIP-7044 for perpetually valid signed voluntary exits. In addition, EIP-7045 for increase of the maximum

Worldcoin (WLD) surges as Bitcoin leads market surge

3 months ago 1 min read

Worldcoin (WLD) has seen a 20% increase in value in a single day, following the upward trend of the market as a whole. The crypto market was primarily driven by Bitcoin (BTC) and Ethereum (ETH). Following this, a crypto whale profited from Worldcoin’s rise by transferring 2.09 million WLD tokens from Binance, making a profit of about $2.5 million and demonstrating the high-reward potential present in the erratic crypto market. With Worldcoin’s performance, the crypto market as a whole—particularly for BTC and ETH—has surged to all-time highs. The first spot Bitcoin Exchange-Traded Funds (ETFs) were introduced in the US, which

BONK memecoin surges by over 15% ahead of potential Revolut listing

3 months ago 1 min read

Solana-based memecoin Bonk (BONK) saw a 15% increase in value due to rumors that it would soon be listed on Revolut’s exchange. Renowned fintech company Revolut is considering collaborating with Bonk on a “Learn and Earn Campaign.” The program, which BonkDAO announced in a note on February 14, attempts to increase the memecoin’s user base by a target of 500,000. The decentralized autonomous BonkDAO, which is in charge of the Bonk project, stated how many people use Revolut—38 million people in more than 50 countries. Reaching its goal of adding more users would be possible for BonkDAO if it could

South Korea is set to enforce a new regulation requiring crypto companies

4 months ago 1 min read

A new rule requiring executives of crypto companies to get prior approval from the Financial Services Commission (FSC) is about to go into effect in South Korea, which is a big step in the direction of tighter regulation of the crypto market. South Korea intends to impose more regulations on the executives of crypto companies, mandating that they obtain authorization from the FSC, the nation’s financial regulator, before commencing their positions. By the end of March 2024, this new rule—which is a part of proposed changes to how crypto services report their activities—will be in effect. The FSC stated on

BONE ShibaSwap (BONE), the Shiba Inu governance token, sees a major boost as OKX Africa introduces support

4 months ago 1 min read

The Shiba Inu governance token, BONE ShibaSwap (BONE), got support from OKX Africa, a branch of the Seychelles-based OKX exchange. This development coincides with increased transactions on the Shibarium blockchain and awareness of potential scams among the Shiba Inu community. OKX Africa’s adoption of BONE ShibaSwap represents a milestone for the governance token. Lucie, a member of the Shiba Inu (SHIB) team, announced the news on the social media platform X. OKX Africa’s On-chain Earn feature increases user engagement by allowing them to earn for staking in proof-of-stake (PoS) systems or participating in the DeFi protocol. The dual-earning mechanism for