Consumers’ Research, a consumer advocacy group, published a warning report on September 12 about stablecoin issuer Tether, which cited the company’s lack of transparency surrounding its US dollar reserves.The consumer advocacy group claims that Tether has yet to submit a full audit of the dollar reserves that are believed to back its USDT (USDT) stablecoin to a reputable accounting firm, despite the stablecoin issuer repeatedly promising to audit the reserves.The authors of the consumer research report argued that this lack of transparency was similar to the situation that led to the collapse of FTX and Alameda Research.Table showing some of…
Author: Crypto Flexs
Read More
Ethereum co-founder Vitalik Buterin has announced that he will change the way he discusses layer 2 (L2) projects starting next year.In a September 12 post, Buterin said that he would only publicly acknowledge L2s that had reached at least Stage 1 in their decentralization efforts, regardless of his investment.He said:”I take this seriously. Starting next year, I plan to only publicly mention L2 (on blogs, talks, etc.) and give a ‘maybe short grace period’ to really interesting new projects. It doesn’t matter if I invested in them or if you’re my friend. If it’s not L1, it’s screwed.”Buterin outlined the…
The price of SUI rose 13% in one day, trading at $1.02 on September 12. This is part of a rally that began on September 3, and SUI has gained over 27% over the past seven days.According to data from Cointelegraph Markets Pro and TradingView, SUI rose as much as 15% from its low of $0.9274 on September 12, reaching an intraday high of $1.07.SUI/USD daily chart. Source: TradingViewCompared to SUI, the total cryptocurrency market cap has increased by 1.15%, reaching $2.02 trillion. Therefore, SUI’s performance in the last 24 hours has become the cryptocurrency with the highest gain among…
FTX Real Estate Connect Crypto Wallet Withdraws 177,693 SOL from Solana PoS This comes just a day after Caroline Ellison’s trial date was announced. Technical analysts have identified the current sideways channel price range for SOL. It looks like the collapsed FTX exchange is preparing to refund customers. Almost two years after its collapse in November 2022, a wallet affiliated with FTX and sister company Alameda Research has redeemed 177,693 SOL from Solana’s staking service. Is FTX creating an environment for customer repayments? This major move has sent ripples through the crypto space, with FTX assets being notorious for selling…
Posted 1 minute earlier ~ in Updated: September 12, 2024 at 2:00 PM EDT Happy Thursday! In today’s newsletter, eToro settles with the SEC for $1.5 million and scales back its US crypto offerings, Grayscale launches a new XRP trust, Standard Chartered says Bitcoin could hit new all-time highs by year-end regardless of who wins the US presidential election, and more.Meanwhile, former FTX executive Ryan Salameh has withdrawn his appeal to overturn a seven-and-a-half-year prison sentence he received for a dispute over the investigation into his partner and former congressional candidate Michelle Bond.Let’s get started.eToro Settles $1.5 Million with SEC,…
A widely known cryptocurrency analyst predicts that a competitor to Ethereum (ETH) is on the verge of a massive breakthrough. Cryptocurrency trader Michael van de Poppe told his 725,300 followers on social media platform X that NEAR Protocol (NEAR) could soar 275% from its current value within six months. “The market is shaping up for a reversal. NEAR has retested a key area for support and looks likely to hold there. As long as $2.75-$3.40 holds, I expect to see $15 in the next 3-6 months.” Source: Michaël van de Poppe/X At the time of writing, NEAR is trading at…
The city of Tbilisi in Georgia has lots of crypto startups and crypto ATMs, and it’s dotted with small-time “exchanges” that are essentially money changers with a Binance account. Visitors from nearby Russia often use crypto for payments here, as their bank cards don’t work outside Russia due to sanctions. The ease of electronic payments in the city poses competition for crypto, as does the government’s digital lari CBDC plan, but at least 200 businesses accept crypto at point of sale. City: Tbilisi Country: GeorgiaPopulation: 1.2 millionFounded: 445Most Common Languages: Georgian, English, Russian Jump to: Crypto culture, Projects and Companies,…
CEX.IO voluntarily ceased operations in the UK last year after new rules were introduced. Key ContentsCEX.IO may have met the regulatory requirements of the Financial Conduct Authority (FCA), the UK’s financial regulator.In October last year, the FCA introduced new financial promotion regulations that set out stricter guidelines for promoting cryptocurrencies.To comply with FCA regulations, CEX.IO was required to partner with Gateway 21, an FCA-authorized financial promotion agency. CEX.IO may have met the regulatory requirements of the Financial Conduct Authority (FCA), the UK’s financial regulator, meaning the once popular centralized cryptocurrency exchange can now resume operations in the UK after previously…
Infinit, a DeFi abstraction protocol, has raised $6 million in a funding round led by Electric Capital, Mirana Ventures, Hashed, and Maelstrom, the family office of Arthur Hayes.Other investors include Lightspeed Faction, Nomad Capital, Robot Ventures, Tangent, and Presto Labs.The project said it plans to use the newly raised funds to improve its infrastructure and provide a more seamless experience for DeFi protocol developers. According to a statement shared with The Block, Infinit, which supports end-to-end DeFi infrastructure, already powers 12 apps across three chains, including protocols such as INIT Capital, Ethena, and ZeroLend.Infinit aims to simplify the process by…
contributor Posted: September 12, 2024 At the time of writing, SOL appears to be bullish, on the verge of breaking out of a significant level. If SOL closes the daily candle above $138.2, it could see a price surge of more than 33%, reaching the $185 level. Amid the recent bear market, major cryptocurrencies have shown signs of recovery after their price plunges in recent days. Meanwhile, on September 12, the wallet address “H4yiPh” associated with the bankrupt FTX/Alameda unstaked 177,693 Solana (SOL) tokens, worth $23.75 million. FTX/Alameda Wallet, SOL Staking Unlocked According to Lookonchain, the company has withdrawn a…