Author: Mohammed Ali

Article written by Mohammed Ali

Former FTX exchange executives will be sentenced after pleading guilty

July 10, 2024 1 min read

Two former FTX executives, Nishad Singh and Gary Wang, will be sentenced in New York this fall. Singh, a former Director of Engineering, pleaded guilty to four federal charges in February 2023, testifying that Alameda Research took billions from FTX under Bankman-Fried’s orders. Wang, a former Chief Technology Officer, pleaded guilty to fraud and conspiracy in December 2022, testifying against Bankman-Fried. He revealed he gave Alameda Research special advantages, leading

A decentralized wellness solutions provider WELL3 hits $55M TVL in 24 hours ahead of TGE

July 1, 2024 1 min read

WELL3, a supplier of decentralized solutions for wellbeing, has successfully raised $55 million in Total Value Locked (TVL) during a 24-hour public sale before to their next Token Generation Event (TGE). The startup receives backing from renowned crypto investment firms including Cypher Capital, as well as other notable organizations such as Animoca Brands, AWS, Samsung, The Spartan Group, Blocore, Fenbushi Capital, Newman Group, Soul Capital, XY Finance, and Lumoz. WELL3

A US court advances Ripple’s securities case to trial

June 21, 2024 2 mins read

Ripple Labs is currently confronting further legal obstacles as a United States court progresses with a securities case centered around purportedly deceptive representations. The primary inquiry revolves around whether XRP, the digital asset of Ripple, meets the criteria of being classified as a “security” according to United States legislation, a determination that might significantly impact rules pertaining to cryptocurrencies. The lawsuit, initiated by Bradley Sostack, is around remarks made by

3iQ Digital Asset Management is set to launch North America’s first Solana ETP

June 21, 2024 1 min read

3iQ Digital Asset Management has submitted an initial prospectus for The Solana Fund (QSOL) to Canadian securities authorities, with the exception of Quebec. If authorized, QSOL will become the inaugural exchange-traded product (ETP) for Solana (SOL) in North America. It will be listed on the Toronto Stock Exchange (TSX) with the ticker symbol “QSOL.” This action is a noteworthy achievement for 3iQ, renowned for introducing the initial openly traded Bitcoin

Hashdex proposes a Bitcoin and Ethereum ETF to the SEC

June 20, 2024 2 mins read

Hashdex, an asset management firm, has submitted a proposal to the US Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) that merges spot Bitcoin (BTC) and Ethereum (ETH). The Hashdex Nasdaq Crypto Index US ETF seeks to offer investors direct exposure to the top two cryptocurrencies, representing a notable step towards incorporating crypto assets into conventional financial markets. The ETF’s portfolio will be comprised primarily of Bitcoin

Donald Trump vows to ensure that the future of crypto and Bitcoin will be made in the USA

May 26, 2024 1 min read

Today, Donald J. Trump tweeted, “I am very positive and open minded to crypto companies and all things related to this new and growing industry,” as both sides in the presidential election appear to be courting pro-crypto voters. “Our country must be the leader in the field, there is no second place,” Trump wrote on Truth Social before speaking at the Libertarian National Convention in Washington, D.C., today. On the

ConstitutionDAO’s PEOPLE surges by over 25% in the last 24 hours

May 25, 2024 1 min read

The price of PEOPLE, the token associated with the disbanded ConstitutionDAO, has seen a significant rise of 25% in the last 24 hours. Currently trading at $0.095, the token boasts a market cap exceeding $480 million. This unexpected surge comes despite the DAO itself dissolving in November 2021 after failing to win a rare copy of the U.S. Constitution at auction. A Brief History of ConstitutionDAO Formed in late 2021,

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

May 21, 2024 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

Coinbase exchange consumers are frustrated with its frequent disruptions

May 15, 2024 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

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

May 13, 2024 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

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

May 9, 2024 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

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

March 28, 2024 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