Author: Sollcrypto
As reported by Russian media, a magistrate court in Moscow has imposed fines on the U.S.-based cryptocurrency exchange Coinbase. The court specifically fined Coinbase one million rubles or $10,848 for its failure to localize the data of Russian citizens within the Russian Federation. The court found Coinbase guilty of administrative offenses under Part 8 of Art. 13.11 of the Russian Federation’s Code of Administrative Offenses. This article pertains to the failure of data operators to ensure the recording, systematization, accumulation, and storage of personal data of Russian citizens within the country. Additionally, the report highlighted that the fines imposed were…
In this article, we explore the “Telegram Open Network,” notable for its reliance on the cryptographic messaging app of the same name. The inception of this network traces back to 2019, marked by an initial coin offering (ICO). However, subsequent events, including a legal dispute initiated by the U.S. Securities and Exchange Commission (SEC), hindered its progress. Presently, the Telegram Open Network holds the record for the world’s fastest blockchain, capable of processing over 104,000 transactions per second. Within Telegram’s decentralized ecosystem, the cryptocurrency Toncoin (TON) has emerged, functioning as a governance, fuel, and stake token. Over the past year,…
The non-governmental organization Bitcoin Argentina has introduced a draft bill proposing regulations for the cryptocurrency market. The aim is to ensure the preservation of decentralization and enhance public trust. Bitcoin Argentina’s president, Ricardo Mihura, presented the proposed legal framework at LABITCONF 2023 in Buenos Aires on November 10. Despite the organization’s previous resistance to cryptocurrency regulation, Mihura now argues that it is necessary not only to safeguard blockchain but also to hold wrongdoers accountable under the full extent of the law. “We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of…
In the dynamic realm of technology, the year 2023 has witnessed an unprecedented surge in the development and application of artificial intelligence (AI). This rapid expansion has given rise to notable Large Language Models (LLMs), with OpenAI’s ChatGPT standing out as a prominent example. Investors in both the cryptocurrency and stock markets are increasingly relying on ChatGPT for financial insights and predictions regarding specific assets. In this context, Finbold sought ChatGPT’s input on November 11 to anticipate the price of Solana (SOL) for the years 2024, 2028, 2032, and 2050. Elements backing the forecasts made by ChatGPT As per ChatGPT,…
Binance’s recent blockchain activity has brought to light substantial transactions involving Shiba Inu (SHIB) tokens. A remarkable 536 billion SHIB has been swiftly transferred, capturing the attention of the community and sparking speculation regarding the potential reasons and consequences for the SHIB market. Speculations regarding the transfers of funds One hypothesis suggests that these fund transfers by Binance may involve moving funds between its own wallets, driven by security considerations or the need for enhanced fund management. Large exchanges frequently reallocate their assets to effectively manage liquidity, ensure fund safety, or prepare for upcoming features and services. Another potential scenario…
During a recent CNBC interview, Brad Garlinghouse discussed the current legal dispute between Ripple and the US Securities and Exchange Commission (SEC) regarding the classification of XRP. Garlinghouse underscored three consecutive victories for Ripple in the legal proceedings. He emphasized that the initial ruling on July 13 unambiguously declared XRP as not being a security. Additionally, he mentioned rejecting the court’s interlocutory appeal and the dismissal of allegations against both Ripple co-founder Chris Larsen and himself. Ripple CEO Brad Garlinghouse Voices Criticism Against SEC’s Regulatory Approach. In the interview, Garlinghouse criticized the SEC’s regulatory strategy of relying on enforcement and…
Investors frequently ponder the potential for a cryptocurrency’s price to surge, and while predicting market movements is challenging, Cardano (ADA) has been experiencing a consistent uptick in adoption throughout the year. This suggests that a growing demand may contribute to a potential increase in price. ADA, Cardano’s native token, has witnessed an impressive 52.8% surge in price year-to-date, with a notable 50.6% increase over the last 30 days. This uptrend follows steady growth in various metrics, including the total value locked in its decentralized finance (DeFi) ecosystem. Starting the year slightly below 200 million ADA, the total value locked has…
The value of Ethereum ($ETH), the second-largest cryptocurrency by market capitalization, recently crossed the $2,000 threshold following the announcement of a spot Ethereum exchange-traded fund (ETF) by the world’s largest asset manager. Despite this surge, an Ethereum whale is anticipated to incur a $118 million loss on its investment. BlackRock’s registration of the iShares Ethereum Trust in Delaware signals its intention to introduce a spot Ethereum ETF in the United States, mirroring its previous approach before filing for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). This development led to a spike in ETH prices, reaching…
Grayscale Investments, a cryptocurrency asset manager, is actively participating in discussions with the U.S. Securities and Exchange Commission (SEC) regarding its request to transform its primary bitcoin trust into an exchange-traded fund (ETF) for spot bitcoin, according to CEO Michael Sonnenshein. Sonnenshein expresses confidence in Grayscale, highlighting the company’s perceived advantageous position compared to other applicants seeking approval for spot bitcoin ETFs. Grayscale is in “constructive engagement” with the SEC. Grayscale Investments CEO Michael Sonnenshein discussed the company’s strategy to transform its flagship bitcoin trust (GBTC) into a spot bitcoin exchange-traded fund (ETF) during an interview with Bloomberg at DC…
On November 9, when Ethereum (ETH) surpassed the $2,000 mark, Erik Smith, Chief Investment Officer of 401 Capital, noted that the platform’s average daily revenue reached its highest point in four months. Data reveals that Ethereum’s daily revenue hit $10 million, building on the momentum from the previous day and marking the metric’s peak since July. Ethereum’s value surpasses $2,000, with revenue on the rise in November. Currently, ETH prices remain subdued but hover around the highs seen on November 9, maintaining a bullish formation supported by robust trading volumes. The prices continue to stay above the psychologically significant $2,000…