Coinbase recently submitted a scathing comment letter to the US Securities and Exchange Commission (SEC), highlighting significant flaws in the agency’s cost-benefit analysis of a proposed rule. In the letter, Coinbase argued that the SEC had failed to adequately assess the economic impact of the rule on efficiency, competition, and capital formation. One of the
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The once-prominent crypto hedge fund, Three Arrows Capital (3AC), has faced a catastrophic collapse, leading to liquidators pursuing a $1.3 billion lawsuit against TerraForm Labs. TerraForm Labs, the bankrupt digital assets company co-founded by Do Kwon, is accused of manipulating the market for Luna and TerraUSD, resulting in artificially inflated prices for these tokens. This
Upland, the virtual property trading game that is mapped to the real world, recently achieved a significant milestone by introducing Paris to its Metaverse. This new addition allowed players to own and develop virtual properties in one of the world’s most famous cities, expanding the landscape of Upland and bringing excitement to its growing community
The gaming industry has been taken by storm with the release of Unioverse’s latest game, Hoverdrome. This sci-fi franchise and gaming platform is setting a new standard with its innovative approach to Web3 gaming. Hoverdrome offers players an exhilarating experience that combines the best elements of Mario Kart and Rocket League, making it a must-play
In a recent development, a US appeals court made a significant decision regarding a class-action lawsuit against Binance.US and CoinMarketCap. The plaintiff, Ryan Cox, alleged that the two platforms manipulated the price of the Hex token for their financial gain. Cox argued that Hex was unfairly undervalued while other cryptocurrencies were inflated in value. Initially,
The recent data on US spot Ethereum ETFs reveals that there was a total inflow of $4.9 million on Monday. This marks a positive uptick in investor interest in Ethereum-related investment products. It is important to note that Grayscale Ethereum Trust (ETHE) experienced no withdrawals on this particular day, a notable occurrence considering the previous
The current market conditions are causing significant financial stress for new Bitcoin investors, as indicated by various metrics pointing to a bearish environment. Metrics such as the Short-Term Holder MVRV (Market Value to Realized Value) and the standard deviation (SD) of the short-term holder Cost-Basis highlight the losses that newer market participants are facing on
The recent trading activities in the cryptocurrency market have shown that Ethereum is approaching a crucial point in its trading pattern. The formation of a bearish triangle pattern indicates a potential significant breakout, with the possibility of a sharp decline towards the $2,160 target. In the past 24 hours, Ethereum has seen an increase of
House Representative Ro Khanna, a pro-Bitcoin Democrat and lawyer, has indicated that the Biden administration is likely to release a cryptocurrency regulation roadmap in the near future. Khanna’s optimism stems from recent discussions between the White House and industry leaders, where he hopes that forthcoming regulations will provide clarity for companies, support innovation, and drive
In the volatile world of cryptocurrencies, Ethereum (ETH) recently experienced a significant downturn at the start of the week. However, there is hope on the horizon as the digital asset has shown signs of a modest recovery by reclaiming the crucial $2,600 level and aiming for the $3,000 milestone once again. The crash on August