VanEck’s Solana ETF Faces Regulatory Hurdles Analysts are banking on vague legal precedent. Disagreements with the SEC may be resolved in court. The U.S. cryptocurrency industry has long suffered from regulatory uncertainty, especially when it comes to altcoins like Solana, which U.S. securities regulators consider to be securities. This status has far-reaching implications, especially for potential altcoin exchange-traded funds (ETFs). Most recently, VanEck, the issuer of the hopeful Solana ETF, made the case for the fund. The analyst pointed to previous legal precedents that, in his opinion, hold the key to Solana’s classification and ETF approval. Legal precedent points to…
Author: Crypto Flexs
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Lawrence Jengar 23 Aug 2024 11:10 BNB Chain joins ETHTokyo as a Gold Sponsor to offer two challenges with a $2,500 prize pool for innovative Web3 solutions. BNB Chain announced that it will participate as a Gold Sponsor in ETHTokyo, which will be held in Shibuya from August 23 to August 25, 2024. ETHTokyo is a large-scale hackathon hosted by the Ethereum Japan community that brings together developers and blockchain enthusiasts from around the world.Sponsorships and Challenges on the BNB ChainAs a Gold Sponsor, BNB Chain will present two build themes, each offering a…
This column was co-written by Frank Chaparro, Special Projects Director at The Block, and Laura Vidiella of MNNC Group. The views expressed in this column are their own and do not necessarily reflect those of their employers. One of the cornerstones of our careers over the years has been trading market rumors and insights with each other and other market participants. So the Genesis collapse was a disaster for a number of reasons, but one unfortunate side effect was the loss of a goldmine of quarterly reports for derivatives, credit and OTC trading.For those unfamiliar, the Genesis Report was like…
A widely known cryptocurrency analyst believes Bitcoin (BTC) is set to rally to new highs. Anonymous analyst Blunts told his 270,000 followers on social media platform X that he believes Bitcoin has started a new fifth-wave surge after breaking above the $62,000 resistance level, which could propel BTC to new all-time highs. Traders practice Elliott Wave Theory, which explains that bullish assets often make five-wave uptrends before a significant correction occurs. Bluntz says: “We’ve found a breakthrough, and I’m confident that from now on, we’ll have the best record ever.” Source: Bluntz/X Based on charts from an anonymous analyst, Blunts…
Caroline Bishop 23 Aug 2024 11:27 The SFC and the exchange jointly announced amendments to the requirements for specialized technology companies and de-SPAC transactions. The Securities and Futures Commission (SFC) and the exchange have jointly announced significant changes to the requirements governing specialized technology companies and de-SPAC transactions. According to apps.sfc.hk, these changes are aimed at streamlining regulatory procedures and enhancing market integrity. Summary of changes The updated requirements focus on providing a more flexible framework for technology companies to facilitate access to capital markets. These amendments are expected to encourage more technology companies…
As someone who has been working in the crypto space since late 2016, I have witnessed the ups and downs of the market over the years. The rise and fall of various altcoins, and the constant evolution. I have seen quite a few projects revolutionize the industry, improve gas fees, and make the usual claims. But every once in a while, something comes along that catches my attention. Enter line—A player in the Ethereum Layer 2 space that not only solves scalability issues, but does so in a way that truly enhances the user experience. With strategic integrations such as…
Policy • August 23, 2024 5:06 PM EDT Posted 1 minute earlier ~ in Happy Friday! Today we take a look at Bitcoin’s surge following comments from the Federal Reserve Chairman, two crypto entities raising privacy concerns about the SEC’s integrated audit trail, and how Kraken’s motion to dismiss the US SEC case was denied.Let’s get started.Bitcoin Soars as Fed Announces ‘Time for Policy Adjustment’Bitcoin broke above $61,000 after Federal Reserve Chairman Jerome Powell expressed confidence that U.S. inflation would return to 2% and hinted at a possible interest rate cut. Powell told the Jackson Hole symposium that the timing…
A sustained rally could see Aptos retest its March highs. According to the indicators, APT whales are getting more exposure in the market. Aptos (APT) Over the past 7 days, it has performed very well, with this altcoin recording double-digit growth. Thanks to the same, the token has even managed to break out of its multi-month bullish pattern, which could see APT soon double in price. Aptos breaks away from the pattern. According to CoinMarketCap, Aptos bullishness has driven the token price up by over 20% over the past 7 days. The bullish trend has continued over the past 24…
Felix Pinkston 23 Aug 2024 11:55 The Hong Kong Monetary Authority (HKMA) has issued a warning about fraudulent websites and phishing messages involving Industrial and Commercial Bank of China (Asia) Limited. The Hong Kong Monetary Authority (HKMA) has issued a public warning about fraudulent websites and phishing instant messages impersonating Industrial and Commercial Bank of China (Asia) Limited (ICBC Asia). According to the HKMA official website, the warning was issued on 23 August 2024. Details of fraudulent activity According to the HKMA, these fraudulent schemes involve websites and instant messages that mislead individuals into…
Key PointsWazirX has announced that it is unable to resume cryptocurrency withdrawals due to a significant depletion of its ERC-20 token holdings caused by a cyberattack.The exchange plans to pursue a Singapore consensus mechanism to facilitate a fair distribution of remaining assets, but the process would involve user voting and court oversight, which could delay access to funds.Starting August 26, 2024, WazirX users will be able to withdraw up to 66% of their INR balance in phases. The remaining 34% of the INR balance is currently frozen due to ongoing law enforcement investigations.In the aftermath of a devastating cyberattack that…