The Hong Kong Monetary Authority (HKMA) has alerted investors to be cautious of crypto companies describing themselves as “banks.” The financial watchdog warned that crypto companies are not banks and that describing their products as deposits is deceptive. According to a press release published today, the HKMA also issued a warning for the crypto companies that they might be breaching…
Former FTX CEO Sam Bankman-Fried (SBF), facing multiple criminal charges related to alleged misuse of user funds, reportedly denied many of the allegations against him in documents containing a draft of a Twitter thread he never posted. According to a Sept. 14 report from The New York Times, documents provided by crypto influencer Tiffany Fong revealed details about Bankman-Fried’s life…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw Coinbase CEO stand up for the nascent ecosystem amid growing calls for enforcement action, while Polygon CEO has said that its $1 billion zero-knowledge proof rollup…
Cloud data company Databricks recently announced the completion of a Series I fundraising round where it raked in $500M from primary investor accounts led by T.Rowe and new investors Capital One Ventures, Ghisallo Capital Management, Ontario Teachers’ Pension Plan and Nvidia. The latest investment round was achieved at a valuation of $43 billion dollars and a share price of $73.50,…
On the latest episode of Macro Markets, analyst Marcel Pechman examines the current state of the American economy. He references a headline from Barron’s that highlights the disparity between people’s perception of the economy and the objective data. Pechman delves into the concept of excess savings, agreeing with Barron’s that a significant portion of the United States population lacks sufficient…
Ether (ETH) price has been dealing with some strong headwinds and on Sept. 11, the price of the altcoin endured a critical test when it plunged to the $1,530 support level. In the days that followed, Ether managed to stage an impressive recovery, by surging by 6%. This resurgence may signal a pivotal moment, following a month that had seen…
The crypto zeitgeist evolves so quickly that Ethereum’s so-called merge feels like forever ago. But it’s been exactly one year since the network fully transitioned to using proof of stake and there have been notable shifts since the change. In terms of Ethereum’s price, not much may appear to have changed since last September. A day before the transition took…
South Korean game studio Krafton, maker of the popular battle royale shooter PUBG, announced Thursday that its upcoming NFT-driven metaverse game project will be called Overdare—and offered a first look at the creation-centric platform. Previously known as Project Migaloo, Overdare will soft-launch in December and fully release sometime between January and July 2024, Krafton said in a statement. The company…
BTC price all-time highs await Bitcoin hodlers before April 2024, says BitQuant — but what happens after will be even bigger. Source: https://cointelegraph.com/app/public/index.php/news/bitcoin-price-prediction-all-time-high-precede-2024-halving
Ethereum developers launched a new testnet on Sept. 15. Called “ Holešky,” the network is expected to be used for staking, infrastructure and protocol-development, according to its developer documents. Sepolia will remain the dominant network for application development. Hello Holesky, Ethereum’s Newest Testnet Read details below#cryptonews #ETH pic.twitter.com/Z6DUMkOExz — Amy Kols Network (@Amyykols) September 14, 2023 An initial supply of…
