Share this article In a blow to the SEC’s alleged authority over the hedge fund sector, a U.S. appeals court struck down a rule requiring hedge funds and private equity firms to be more transparent about their fees and expenses.The Fifth Circuit Court of Appeals ruled June 5 in a unanimous three-judge panel that the SEC exceeded its statutory authority in enforcing the law.The court’s ruling came in response to challenges filed by six industry groups that argued the SEC’s 656-page rule would significantly change the sector’s operations and increase compliance costs. The rules mandated quarterly performance and fee reports,…
Author: Crypto Flexs
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SEC Chairman Gary Gensler said it would “take some time” for a spot Ethereum ETF to launch despite approval of the related 19-4b filing last month.Gensler said ETF applications are going through the normal process and may take some time. He remained vague about the exact release schedule.The SEC chairman also criticized cryptocurrency exchanges for their unsavory practices and said the market is still rife with fraud and manipulation. He added that the SEC continues to work to ensure integrity throughout the market.In a June 5 interview with CNBC, Gensler said the following in response to a question from Jim…
Bitcoin is expected to further strengthen its current bull market thanks to record-high global liquidity.A new analysis published on June 5 by Philip Swift, founder of on-chain data platform LookIntoBitcoin, shows that global liquidity is approaching $100 trillion.Global Liquidity Record Calls for BTC Price Mimicking MoveBitcoin (BTC) and cryptocurrency markets are famously sensitive to global liquidity trends, and the situation in 2024 could not be more conducive to rising BTC prices.This is the conclusion of Swift, whose platform tracks the global M2 currency supply and compares it to BTC price action.In US dollars, M2 is currently worth $94 trillion. This…
Crypto analyst Miles Deutscher highlighted Bitcoin’s significant bullish move, fueling speculation about the top altcoins. He noted Bitcoin’s impressive rally above $71,000, marking a potentially pivotal moment for the cryptocurrency market. This surge comes amid the highest daily inflows ever recorded for Bitcoin spot exchange-traded funds (ETFs), indicating strong institutional demand. Deutscher emphasized that Bitcoin’s performance could have a ripple effect on altcoins, as positive market sentiment often spills over to other digital assets. He shared insights on key altcoins that could benefit from this bullish momentum. Ethereum (ETH): Ethereum remains the leading competitor in the altcoin market. Deutscher noted…
Cryptocurrency Ecosystem • June 6, 2024, 1:19 AM EDT Posted 1 minute ago In ~ Updated: June 6, 2024, 3:34 AM EDT Over the past day, a MEV bot operator using the ENS name “jaredfromsubway.eth” has spent over 210 ETH ($810,000) in Ethereum gas fees.According to data from Etherscan, this amount represents almost 1.5% of all gas fees on the network during this period, making it the network’s largest gas spender. This high-frequency engaging bot is particularly focused on targeting on-chain memecoin traders. Ethereum memecoins have recently seen a resurgence led by tokens such as Pepe, Wojak, Turbo, and Mog.From…
Strongly refuting widespread media speculation about Cardano’s viability, founder Charles Hoskinson provided a detailed overview of future developments and initiatives, highlighting the cryptocurrency’s strong health and promising future. Cardano Founder Blames Crypto Media In a statement via X, Hoskinson expressed his frustration with the current narrative surrounding the ADA in the cryptocurrency media landscape. “Never in my career have I seen such a deep disconnect between the media perception of cryptocurrency influencers and Cardano and the reality and opinions on the actual underlying principles,” he said. He highlighted that Cardano has important developments imminent, including what he described as “the…
Shared Delegation Room Fills in Record Time After Ethereum Migration and Staking Max Multiplier Increase – Chainwire housenewsroomAfter Ethereum migration and staking max multiplier increase, shared delegation room filled in record time. We use cookies to make Chainwire’s website a better experience. Cookies help us give you a more personalized experience, relevant advertising and provide us with web analytics. Technical storage or access is strictly necessary for the legitimate purpose of enabling the use of specific services explicitly requested by the subscriber or user, or for the sole purpose of transmitting communications over electronic communications networks. Technical storage…
One of the most popular topics in the digital consensus space (a new term for cryptocurrency 2.0 that I’m beta-testing) is the concept of decentralized autonomous entities. There are now a number of groups rapidly getting involved in the space, including Bitshares (also known as Invictus Innovations) developing “decentralized autonomous companies”, BitAngels’ David Johnston with decentralized applications, our own concept of decentralized autonomous corporations which has since transformed into the much more general and not necessarily financial “decentralized autonomous organizations” (DAOs); all in all, it is safe to say that “DAOism” is well on its way to becoming a quasi-cyber-religion.…
Injective (INJ) has established itself as a leading platform for blockchain development, providing a seamless experience for backend and frontend developers, smart contract engineers, and node operators. According to Injective Blog, the platform offers a comprehensive suite of tools and resources to simplify the development process. Introduction to smart contract development and injection setup Injective’s WebAssembly (WASM) smart contract layer provides a set of financial primitives, including shared on-chain liquidity, oracle price feeds, cross-chain bridging, and self-executing smart contracts. This interoperability allows developers to create sophisticated decentralized applications (dApps) and fully decentralized permissionless applications. Install…
There was evidence of whale accumulation based on XRP supply distribution. Social indicators and network activity showed that the bulls are unlikely to have the strength to make a comeback. Ripple (XRP) has been trading in a 10-month range and has been at the bottom of that range since mid-April. As a result, Open Interest remains uninspired. The whale continued to accumulate tokens regardless. A recent AMBCrypto report explored the possibility of a bullish trend change. The decline in supply on exchanges suggested accumulation, but may not be enough for a recovery. Social media engagement has declined Source: Santiment Three-day…