New York’s William Koo Ichioka fined $36M for cryptocurrency fraud. He misused client funds on luxury expenses and is banned from trading on CFTC-regulated markets. This highlights the need for stronger investor protections in crypto.
40 blockchain projects raised $198.15M from Sept 14-21, 2024. Top recipients: The Open Network ($30M), Drift Protocol ($25M), Helius ($21.75M). Major investors include Bitget, Foresight Ventures, Multicoin Capital, and Foundation Capital.
Coinbase launches Coinbase Wrapped BTC (cbBTC) on Solana, expanding from Base and Ethereum. cbBTC, an ERC-20 token backed 1:1 by Bitcoin, enhances user flexibility and access. Coinbase Q2 2024 revenue more than doubled to $1.45B.
SEC greenlights $BLK’s iShares Bitcoin Trust for options trading. This move is expected to boost institutional Bitcoin adoption and market volatility. Experts call it a major milestone for the cryptocurrency market, predicting more regulatory endorsements soon.
Anthony Scaramucci predicts $SOL will lead tokenized assets, reducing $7B annual transaction verification costs. Solana partners with Franklin Templeton and Citi Bank to enhance on-chain mutual funds and smart contract services.
SEC’s SAB 121 rule mandates banks to disclose crypto custodial assets, sparking criticism from Congressman @RitchieTorres over GAAP violations and innovation stifling. Despite challenges, major banks like $BK are entering the crypto custody market.
SEC pursues sanctions against @elonmusk for missing court-ordered testimony on $44B Twitter acquisition. Alleged emergency absence violated a May 31 order, with SEC warning of severe legal consequences for continued non-compliance, including potential arrest.
SEC approves options trading for BlackRock’s $IBIT Bitcoin ETF. This milestone highlights growing acceptance of crypto products in traditional finance and could drive mainstream adoption and new investment strategies. @BlackRock
BNY Mellon ($BK) secures SEC approval for Bitcoin custody services, exempt from SAB 121 regulations. This move could entice more traditional financial institutions to step into the crypto market, signaling a potential growth in institutional investment.
Franklin Templeton to launch a mutual fund on $SOL, leveraging its scalability. Citigroup explores $SOL for cross-border payments and smart contracts, boosting financial efficiency. Announcements at Solana Breakpoint 2024 highlight growing TradFi interest in DeFi solutions.
BingX hacked, losing over $43.2M according to PeckShield. Withdrawal ops suspended for 24hrs. Product Director Vivien Lin confirms minor losses, hot wallet targeting. Cyvers estimates losses at $52M, underscoring need for enhanced crypto exchange security.
MicroStrategy acquires 7,420 BTC for $458M, bringing total holdings to 252,220 BTC valued at $9.9B. Unrealized profit reaches $5.9B. The company’s strategic investment reflects confidence in Bitcoin’s long-term potential and influences institutional investment trends.
XRP ($XRP) could reach $2 if Bitcoin ($BTC) rallies to $100K-$150K, boosted by the nearing conclusion of the Ripple vs. SEC lawsuit. Ripple CEO @bgarlinghouse and CLO @s_alderoty believe the case is effectively over, enhancing investor confidence.
Sky, formerly MakerDAO, will launch its stablecoin $USDS on @solana via Wormhole. As the sixth-largest DeFi protocol, Sky will offer up to 2M $SKY tokens weekly to boost DeFi integration on Solana, enhancing its ecosystem.
