Category: crypto

The SEC has issued a Wells notice to blockchain gaming platform Immutable, part of a crackdown on crypto companies ahead of the US election. Immutable claims the SEC’s actions are part of a “regulation-by-enforcement” policy without meaningful dialogue. The allegations focus on the 2021 listing and private sales of its token IMX. Immutable is prepared…

Rune Christensen, founder of Sky (formerly MakerDAO), has proposed a strictly deflationary approach to the protocol’s governance token as the community prepares to vote on whether to revert its brand on Nov. 11. The proposed changes would affect the governance token supply, introducing a deflationary tokenomics model and new incentives for engagement.

A report by Animoca Research found that tokens listed on major exchanges from January to September had negative median performance of 40% to 70%. Binance and OKX had the fewest listings, while Bitget listed the most. March and April were peak months for listings. Tokens with higher MC/FDV ratios had higher valuations.

MicroStrategy plans to raise $42 billion over three years to increase its Bitcoin holdings. The “21/21 Plan” involves $21 billion from equity and $21 billion from debt. The company aims to buy more Bitcoin as a treasury reserve asset to increase shareholder value. This could result in acquiring around 580,000 BTC.

Tron founder Justin Sun announced the integration of Chainlink’s oracle services, which will benefit both networks in the stablecoin and real-world asset sector. Tron will cover initial operating costs for the integration, gradually shifting them to dApp users. Chainlink’s data feed will provide reliable pricing data for Tron’s DeFi platforms.

FTX CEO John J. Ray III is urging the court to keep former engineering director Nishad Singh out of prison to maximize asset recovery for the exchange’s creditors. Singh’s cooperation has been crucial in providing information and locating funds. His assistance has been acknowledged in the case against FTX’s former CEO, Sam Bankman-Fried.

Kraken announced layoffs as part of organizational changes to streamline operations and refocus its mission. Arjun Sethi was appointed co-CEO. The layoffs impacted 15% of the workforce. The restructuring aims to reduce bureaucracy, enhance product innovation, and improve decision-making. Despite the layoffs, Kraken remains committed to driving global crypto adoption.

Nishad Singh, former engineering director at FTX exchange, was sentenced to time served and supervised release for misappropriating funds and violating campaign finance laws. Judge acknowledged FTX collapse as one of the largest financial scandals in US history but noted Singh’s limited role. Singh’s cooperation has been crucial in ongoing case against FTX founder and…

The US Treasury Department highlighted the potential benefits and risks of tokenization and stablecoins in the Treasury market. Tokenization could improve efficiency and access for investors, while stablecoins increase liquidity but pose de-pegging risks. The report recommends regulating stablecoins to prevent potential disruptions in the market.

Canary Capital filed for a US-based spot Solana ETF with the SEC, aiming to provide exposure to SOL price. The firm also applied for ETFs based on Litecoin and XRP. The move aligns with growing investor demand for regulated digital asset funds. The SEC’s approval of spot Bitcoin and Ethereum ETFs has sparked speculation on…