The ETP issuer says a Tuesday CoinSnacks report was likely “commissioned by short sellers,” which the crypto-focused newsletter has denied. Source: https://cointelegraph.com/news/defi-technologies-slams-coinsnacks-report-alleges-short-sellers
Month: June 2024
‘Insane amount’ of Bitcoin shorters are hoping it won’t go to $70K
A heavy amount of Bitcoin short positions will be wiped if Bitcoin returns to $70,000, a price level it hasn’t seen in 12 days. Source: https://cointelegraph.com/news/bitcoin-short-liquidations-price-crypto-analysts-data
‘Pharma Bro’ claims Barron Trump holds private keys to DJT token
Convicted felon Martin Shkreli, also known as “Pharma Bro,” claims Barron Trump is the true creator behind the DJT token — which was even “approved” by Donald Trump. Source: https://cointelegraph.com/news/martin-shkreli-pharma-bro-alleges-barron-trump-launched-djt-token
Ethiopia Approves CBDC Launch Draft Proclamation
The Ethiopian Council of Ministers recently approved a draft proclamation that paves the way for the launch of a central bank digital currency (CBDC). The National Bank of Ethiopia (NBE) stated that the draft considers rapid technological advancements and draws from the experiences of fellow central banks. Proclamation Grants Ethiopian Central Bank Authority to Launch […] Source: https://news.bitcoin.com/ethiopia-approves-cbdc-launch-draft-proclamation/
Australian Regulator Appeals Court Decision Exempting Block Earner From Penalty
Australian Securities and Investments Commission (ASIC) stated on Tuesday that it had appealed the federal court’s decision to relieve Web3 Ventures Pty Ltd., trading as Block Earner, from liability to pay a penalty for offering unlicensed financial services through its crypto-related Earner product. On June 4, the court found Block Earner’s contraventions serious but exempted […] Source: https://news.bitcoin.com/australian-regulator-appeals-court-decision-exempting-block-earner-from-penalty/
ETH valuation metric is ‘heating up,’ but analyst says it’s not overvalued
CryptoQuant CEO Ki Young Ju noted that while Ethereum’s MVRV is rising quickly, onchain activity levels suggest it may not be overvalued. Source: https://cointelegraph.com/news/ethereum-ether-price-mvrv-metric-cryptocurrency-analysts
Philippine SEC Warns Against Skyline Crypto and Dry Goods Trading Investments
The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline […] Source: https://news.bitcoin.com/philippine-sec-warns-against-skyline-crypto-and-dry-goods-trading-investments/
Meta loses bid to wriggle out of billionaire’s crypto scam ad lawsuit
Meta cited a section of a 1996 federal law in an attempt to escape a crypto ad lawsuit from Australian billionaire Andrew Forrest, but a U.S. federal judge said it wasn’t enough. Source: https://cointelegraph.com/news/meta-loses-section-230-defense-andrew-forrest-crypto-scam-ads-suit
Australian Bank Halts Development of ETH-Based Stablecoin
The National Australia Bank recently abandoned its stablecoin initiative, and the development team behind the project is now involved with the Ubiquity stablecoin. The Australian bank’s decision to shelve the stablecoin project shows that startups are better positioned to innovate or adapt than established banks. NAB Team Joins Ubiquity The National Australia Bank (NAB) recently […] Source: https://news.bitcoin.com/australian-bank-halts-development-of-eth-based-stablecoin/
Unlicensed Crypto Business Leads to Indictments in Utah
Two Utah residents have been indicted for operating an unlicensed money-transmitting business, converting over $2.5 million into cryptocurrency, according to the U.S. Department of Justice (DOJ). The two were arrested over the weekend in Washington County. Utah Men Arrested for Illegal Cryptocurrency Transactions The U.S. Department of Justice and the U.S. Attorney’s Office for the […] Source: https://news.bitcoin.com/unlicensed-crypto-business-leads-to-indictments-in-utah/