SEC opposes Hex founder Richard Heart’s motion to dismiss fraud lawsuit, alleging promotion of unregistered securities HEX, PSLX, and PLS. Heart accused of using $12M in investor funds for luxury purchases. Next hearing on October 24, 2024.
Sony Group and Startale unveil Soneium, an Ethereum Layer 2 blockchain on Optimism. With backing from Astar Network, Alchemy, Chainlink, Circle, Optimism, and The Graph, Soneium aims to attract developers in entertainment, gaming, and finance sectors. Cryptos like $ASTR, $OP, $GRT, and $LINK surge post-announcement.
$TRX’s USDD stablecoin shifts focus from Bitcoin, transferring 4,000 BTC to HTX and reducing BTC reserves by 42%. Now 99% backed by $TRX, USDD’s collateralization rate exceeds 300%. Justin Sun aims to boost USDD’s competitiveness.
SEC counters Richard Heart’s motion to dismiss HEX lawsuit, alleging over $1B fraud through unregistered securities sales. Claims include $8.9M misuse for luxury items. Heart argues HEX, PulseChain, and Pulse X are decentralized. Key precedent for crypto regulation. @SECGov
SunPump surpasses Pump.fun, generating $560K daily revenue and launching 7,531 new tokens, compared to Pump.fun’s $368K and 6,941 tokens. SunPump’s consistent growth signals potential market dominance amid TRON network’s evolution and the expanding meme token ecosystem.
Tom Lee of Fundstrat predicts increased market confidence in a Trump election win could boost $BTC and crypto stocks. Trump’s support for Bitcoin may lead to favorable regulatory changes, with recent Bitcoin ETF approvals already enhancing crypto stock prices.
$COIN and $XRP invest $100M in 2024 U.S. elections. Fairshake PAC receives $90M from Coinbase and Ripple, $44M from a16z founders. Crypto firms surpass Big Oil in political spending, achieving outcomes in 36 of 42 cases.
MakerDAO introduces NewStable and NewGovToken to upgrade $DAI and $MKR. NewStable and DAI coexist with a 1:1 conversion rate, targeting different use cases. NewGovToken enhances community participation with a 1 MKR to 24,000 NGT exchange rate.
Bybit lists the $DOGS token, based on the TON blockchain, offering promotions with a prize pool of 3,410,000,000 DOGS. With a user base now over 40M, Bybit’s campaign highlights its market influence and commitment to innovation.
$MKR and $DAI tokens upgraded by MakerDAO. NewStable and NewGovToken launched for better utility and community engagement. NewStable focuses on mass adoption while DAI remains for crypto use. NewGovToken has a 1 MKR to 24,000 NGT exchange rate.
BSX raises $6.2M to expand blockchain-based derivatives platform. Key investors include @blockchaincap, @BanklessHQ, and @coinbase private investors. Funds will add staking functionality and launch an L3 network in Q1 2025. $BSX achieves $4B in trading volume.
Anchorage Digital launches a reward program for institutional investors holding $PYUSD, offering returns without rehypothecation. $PYUSD, nearing a $1B market cap, sees significant adoption on the Solana blockchain. @PayPal @AnchorageDigital
$PYUSD holders can earn interest rewards through a new @PayPal and Anchorage Digital partnership. This initiative aims to enhance PYUSD’s market presence, with interest derived from U.S. Treasury-backed assets. The program targets institutional investors and operates via a Cayman Islands entity.
$BTC OTC market balance surged 70% from June to August 2024, reaching 368,000 BTC. Analysts warn of potential price corrections. Miners prefer OTC to avoid market impact, contributing to the spike. $BTC traded at $60,800 with 4% weekly growth.
