Trump-backed crypto project $WLFI allocates 70% of tokens to founders, developers, and large investors, sparking fairness concerns. Only 30% available for public sale; tokens locked indefinitely, impacting liquidity and accessibility. Buyers to be screened for U.S. sanctions compliance.
Bitcoin mining revenue hit a historic low of $43,600 per EH/s in August 2024, as per JPMorgan. Mining difficulty surged by 9%, and market cap of public miners fell by 15% to $20B. Miners are diversifying into AI tasks.
AAVE token surged 8% to $135 amid significant whale activity, with 67,197 AAVE withdrawn from Binance. Technical analysis targets $168, while collaborations with MakerDAO and endorsements from @WorldLibertyFin bolster its market position.
SEC appeal ruling on Ripple’s $125M penalty likely delayed until 2026, says attorney Fred Rispoli. Ongoing SEC actions against exchanges reduce the appeal’s impact on $XRP, which remains unaffected by recent developments like smart contracts and a new stablecoin.
US Federal Reserve orders United Texas Bank to cease crypto dealings over AML issues. Crypto ETF issuers face increased risks as hackers target custodial platforms, leading to concerns over market centralization and potential vulnerabilities.
Coinbase ($COIN) files a cross-motion against the FDIC, seeking access to crypto guidance records under FOIA. Chief Legal Officer Paul Grewal emphasizes transparency, arguing the public’s right to these documents. Outcome may reshape crypto regulations.
SEC expected to ramp up crypto enforcement actions by September 30, warns @jchervinsky. Recent cases like Uniswap’s $175,000 fine highlight ongoing scrutiny, emphasizing the need for clear regulations to foster innovation and investment in the crypto market.
BoJ Governor Kazuo Ueda signals more rate hikes, impacting Asian stocks and crypto. July’s hike caused significant declines. Experts foresee another hike by end of 2024. U.S. Fed expected to cut rates in September 2024.
Arthur Hayes predicts cryptocurrency stagnation until late September due to Federal Reserve policies and U.S. Treasury liquidity interventions. Government spending driving inflation also impacts growth. Economic stabilization could lead to a market resurgence. Investors should monitor macroeconomic policies.
South Korea’s Financial Supervisory Service (FSS) will start auditing cryptocurrency exchanges from July 2024 under a new Investor Protection Law. Major platforms like Upbit and Bithumb face scrutiny, with severe penalties for violations over 5 billion KRW (~$3.7M).
X (formerly Twitter) wins the right to seek a preliminary injunction against California’s Social Media Anti-Hate Speech Law, as the Ninth Circuit reverses a lower court ruling. This legal win may impact future digital governance policies.
Binance partners with Grant Thornton to enhance financial transparency and audit preparation. The collaboration aims to address accounting and tax challenges, reinforcing Binance’s commitment to compliance and stability in the crypto market. $BNB @GrantThornton @binance
Tether and Reku launch educational events in Indonesia, aiming to boost crypto literacy. With 20.1M users, Indonesia ranks 7th globally in crypto adoption. In May 2024, transactions hit 211 trillion Rupiah ($13B). $USDT @RekuOfficial
Bank of Canada cuts interest rates by 25 basis points to 4.25% amid cooling inflation. $BTC trading below $58k may benefit as rate cuts often boost investments in riskier assets.
