Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the Celsius (CEL) token was a security. In a motion filed on July 25 and heard before the United
On the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman explains why United States consumption remains strong while auto-loan and credit card balance delinquency is accelerating. According to Pechman, consumers built a cushion of extra cash savings as the U.S. government injected money to avoid a recession and temporarily forgave student loan repayments. But, according
The circumstances behind the mysterious $16 million withdrawal from the Pepecoin (PEPE) project’s multisig wallet have seemingly been revealed, with the finger being pointed at three ex-team members who went rogue. On Aug. 24, the price of PEPE plunged by roughly 15% amid fears of a potential rug-pull after the community spotted that $16 million
Antonio Juliano, the founder of decentralized exchange dYdX thinks that crypto builders should forget about serving customers in the U.S. over the next five to 10 years, experiment in other markets and then return once the time is right. In an Aug. 25 X (Twitter) thread, Juliano argued that builders should prioritize markets outside the
In a swift and intriguing turn of events, a previously enigmatic Bitcoin (BTC) address managed to catapult itself to the esteemed position of the third-largest holder of BTC. As reported by Cointelegraph on Aug. 22, the address in question accumulated a staggering 118,000 BTC. While its identity has now been attributed to Robinhood, questions still
Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer. However, a positive sign is that after
Vauld, a Singapore-based crypto exchange, that has been ongoing bankruptcy proceedings since August 2022, has said that it received permission from the court to restructure its board. The new top management will lead the company’s bailout process. On Aug. 24, Vauld’s co-founder Darshan Bathija revealed on X (former Twitter), that the company got its scheme
As XRP (XRP) struggles to maintain upward momentum following Judge Analisa Torres’ summary judgement in the United States Securities Exchange Commission v. Ripple Labs case that XRP isn’t a security, investors appear to be selling off their holdings. Adding to this, a significant whale has moved 29 million XRP, valued at over $15 million, to a
Ethereum automated market maker and decentralized finance (DeFi) protocol Balancer warned that $2.8 million, or 0.42% of its total value locked (TVL), remains at risk following the discovery of a vulnerability on Aug. 22. According to the Aug. 24 announcement, users are asked to “withdraw ASAP” if they have connected wallets to affected liquidity provider
From sitting in his car crying before work every morning to becoming a successful digital artist, the story of Australian-based VR painter and sculptor Giant Swan is one of persistence, timing and pushing boundaries. In a world where a digital artist can now monetize their work through NFTs as opposed to cheap likes and comments on
Investment firms ARK Invest and 21Shares have teamed up to apply for two Ethereum futures exchange-traded funds after reports emerged last week that the United States securities regulator could soon begin approving applications. The two proposed Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy
The price of the frog-themed memecoin Pepe (PEPE) has plunged nearly 15% after recent changes to a multisig wallet and new token transfers ignited fears of a “rug pull” by its developers. The allegations — as well as the negative price action — came as $16 million worth of Pepe tokens were sent from the developers’
Our weekly roundup of news from East Asia curates the industry’s most important developments. HashKey Hong Kong to commence retail trading Crypto exchange HashKey, the first licensed virtual asset provider in Hong Kong, will open its doors to residents for retail trading on August 28. According to local news reports, investors will only be allowed
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The upcoming $1.9 billion Bitcoin (BTC) monthly options expiry on Aug. 25 is key to defining whether the $26,000 support level will hold. One could pin the recent cryptocurrency market sell-off to the U.S. Securities Exchange Commission decision to delay the spot Bitcoin exchange-traded funds (ETF), but there’s also the macroeconomic perspective. If the U.S.
Developers behind the Base and Optimism networks have jointly announced a revenue-sharing and governance-sharing agreement. Coinbase, the parent company of Base, has also published a list of “principles of neutrality” it will follow to prevent Base from becoming centralized. This announcement was made through three separate blog posts on Aug. 24; one from the jointly-controlled
Twitter polls and Reddit forums suggest that around 70% of people find it difficult to be rude to ChatGPT, while around 16% are fine treating the chatbot like an AI slave.The overall feeling seems to be that if you treat an AI that behaves like a human badly, you’ll be more likely to fall into
On Episode 27 of Hashing It Out, CoinRoutes CEO Dave Weisberger joins host Elisha Owusu Akyaw (also known as GhCryptoGuy) to discuss the current state of cryptocurrency regulation in the United States. Weisberger explains how the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approach regulations and what they mean for
The company filed a motion with the District of Delaware Bankruptcy Court on Aug. 24 seeking authorization and approval of guidelines for the sale of digital assets recovered during ongoing bankruptcy proceedings. The filing outlines FTX’s requests and plans to transfer some $7 billion worth of recovered cryptocurrency tokens under the management of Galaxy Digital following the
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