Category: crypto

The FTX native FTT token surged 50% amid false claims of imminent repayments, reaching $2.75 before settling at $2.14. Trading volume exceeded $360 million, predominantly on Binance. Despite speculation driving its value, repayment plans remain unapproved, with significant creditor backlash over undisclosed shareholder provisions affecting recovery rates.

Ethena Labs is proposing a decentralized exchange, “Ethereal,” to enhance the utility of its synthetic dollar, USDe. Set for testnet launch in Q4 2024, Ethereal aims for centralized exchange performance with self-custody. USDe’s market cap has dropped over $1 billion recently, facing increased competition in the stablecoin market.

TRON DAO has completed a successful security assessment of its Java-Tron client conducted by ChainSecurity, addressing identified vulnerabilities to enhance network stability. Key issues included PBFT message processing and resource consumption from unsigned blocks, which were resolved to strengthen the blockchain’s performance and security for users.

Vitalik Buterin emphasizes the need for decentralization and cooperation in the Ethereum ecosystem, suggesting a clearer definition of “Ethereum Alignment.” He proposes key criteria such as open-source software, interoperability, decentralization, and positive contributions to the community. Buterin advocates for measuring projects against these standards while maintaining decentralization within the ecosystem.

The Central Bank of Bolivia reported that virtual asset transactions more than doubled after the June lifting of the Bitcoin ban, averaging $15.6 million monthly. This rise reflected increased acceptance of digital assets, supported by new regulations and educational initiatives, marking a significant step toward modernizing Bolivia’s economy.

Wyoming Senator Cynthia Lummis speculated that SEC Chair Gary Gensler might resign next year, especially if Donald Trump becomes president. She criticized Gensler for not recognizing Bitcoin and Ethereum as commodities and stressed the need for clearer crypto regulations in the US, contrasting with effective EU regulations.

The SEC settled with Mango Markets’ DAO and Blockworks Foundation for selling unregistered securities, following the platform’s 2022 exploit. They agreed to pay $700,000, destroy MNGO tokens, and halt marketing. The SEC emphasizes that being a DAO doesn’t exempt compliance with securities laws, reflecting ongoing regulatory scrutiny in crypto.

Adam Iza, founder of crypto platform Zort, faces charges for bribing Los Angeles Sheriff’s Department officials to extort victims and evade taxes. Accused of using stolen funds for luxury indulgences, he allegedly attempted kidnapping and intimidation to access a victim’s digital assets, with collusion from former LASD officers.

On September 27, Bitcoin surpassed $66,000, achieving its best September performance, driven by economic stimulus in China and US interest rate cuts. Institutional demand for spot Bitcoin ETFs surged, reflecting investor interest amid economic uncertainty. Analysts foresee further gains as favorable conditions persist, highlighting Bitcoin’s evolving financial role.

Cantor Fitzgerald CEO Howard Lutnick urged regulators to recognize Bitcoin as a commodity, similar to gold and oil, citing their poor understanding of crypto regulation. He announced plans for a $2 billion Bitcoin financing service and expressed optimism that traditional financial institutions will soon engage with Bitcoin more freely.