60 cryptocurrency organizations are supporting the market rescue bill ahead of a vote next week.The signatories, led by the Crypto Council for Innovation, urged House members to pass the bill in a letter sent Thursday to Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. . FIT21 poses “new compliance challenges” for cryptocurrency companies, but clear rules are needed, the group said.“Currently, digital asset companies are told to somehow comply with U.S. securities laws enacted nearly 100 years ago without taking into account today’s technological advancements, including the ability for transactions to move at internet speeds.” letter.House lawmakers are expected…
Author: Crypto Flexs
Read More
Ethereum (ETH) rival Fantom (FTM) has surged in price this week, outpacing the broader cryptocurrency market thanks to a new upgrade. FTM is trading around $0.801 at the time of this writing. The 55th-largest cryptocurrency asset by market capitalization is up nearly 5.5% in the last 24 hours and more than 15% in the past week. In comparison, the overall cryptocurrency market cap is down 1.5% over the past 24 hours and up about 5% over the past 7 days. Validator on the Fantom Opera mainnet Upgrade has started Their nodes are scheduled to be powered by the project’s new…
MakerDAO, the decentralized autonomous organization that created the Dai stablecoin, has announced its intention to launch a new stablecoin called PureDai. This step is intended to provide a fully decentralized alternative to Dai, which now relies on a combination of centralized and decentralized alternative collateral. This is expected to happen within the next few years. Transition to complete decentralization PureDai’s goals were first laid out by Rune Christensen, CEO and co-founder of MakerDAO. The difference when using PureDai is that it only accepts decentralized assets like Ethereum as collateral. This is the main difference between PureDai and Dai, which are…
Magic Square has launched Magic Launchpad, a new platform designed to transform how early-stage Web3 projects raise funding and grow their communities. With support from Binance Labs, Magic Square already boasts over 4.5 million users and over 1,400 registered projects. The launch of Magic Launchpad promises to provide a strategic multi-chain funding solution that emphasizes project quality and transparency. Magic Launchpad stands out for its modular, multi-chain structure. Projects undergo a rigorous application process to ensure that only high-quality initiatives benefit from the platform’s capabilities. This rigorous screening process not only benefits projects but also provides users with fair access…
In a significant move to enhance the use of digital currencies, Hong Kong residents can now set up personal digital yuan or e-CNY wallets, as announced by the Hong Kong Monetary Authority (HKMA). This development, part of a collaboration with the People’s Bank of China (PBoC), marks a milestone in “facilitating” cross-border transactions between Hong Kong and mainland China. The introduction of this wallet is expected to expand the use of China’s digital yuan (e-CNY), enabling more systematic and direct payments without the need for a mainland bank account. Expanding use of digital yuan The HKMA said the plan aims…
Ripple, a blockchain-based payment protocol and cryptocurrency originator, has released its Q1 2024 XRP Market Report, providing insight into the state of the cryptocurrency market, related XRP ledger and XRP-related announcements, as well as market developments in previous quarters. This report demonstrates Ripple’s commitment to transparency and regular updates, demonstrating its belief in proactive communication and building trust across the industry.Cryptocurrency Market SummaryAccording to Ripple, the first quarter of 2024 saw a number of noteworthy market developments, including continued demand for BTC spot ETFs in the U.S., growth in centralized and decentralized exchange volume, major…
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. Solana trader’s $780,000 profit highlights the cryptocurrency’s potential as InQubeta catches the attention of Ripple whales with its innovative features. An anonymous Solana (SOL) trader recently took advantage of a price discrepancy on the Solana blockchain to make a significant profit of $780,000 in just 15 minutes. This impressive performance demonstrates the potential for significant profits in the cryptocurrency market. Meanwhile, in another development, rising altcoin InQubeta (QUBE) has gained the attention of Ripple (XRP) whales with its innovative…
Last November, we invited the Ethereum community to help us measure how we are doing, what we can improve, and how we can best communicate with all of you as we move toward the launch of the genesis block in March. We’ve created a simple survey for you. We believe it is very important to enable the community to interact with Ethereum as well as with Ethereum itself, and we hope to use the survey results as a guide to provide new and exciting tools to do so. The survey itself consisted of 14 questions divided into two sections. Ethereum…
The price of ADA appears poised to reach $0.50, which would reduce the percentage of losing holders to less than 55%. Whale concentrations are above 2021 levels, which suggests prices could move closer to $3 later. Surprisingly, Cardano (ADA) has become the best-performing asset among the top 10 cryptocurrencies. At press time, ADA was changing hands at $0.48, up 7.28% over the last 24 hours. Previously, AMBCrypto reported how Cardano could soon exit the top 10 by market capitalization. However, the token seemed to have other plans as its price helped it gain a solid position in the rankings. But…
Thomas John Sfraga, also known as ‘TJ Stone,’ pleaded guilty to fraud charges in Brooklyn federal court on Thursday.Sfraga promised investors up to 60% returns within three months on its fake cryptocurrency digital wallet, according to data released Friday by the U.S. Department of Justice. Instead, he allegedly used some of his funds to pay those who fell victim to his plans. He faces up to 20 years in prison and $1.33 million in restitution, according to a Justice Department release.“For years, Sfraga shamelessly lied to friends, neighbors and investors, embezzling more than $1.3 million in hard-earned life savings,” U.S.…