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Also Read: Ripple Roasts US SEC’s Gary Gensler In Hilarious XRP Explainer Video advertisement Elon Musk Vs Researchers? According to the report, Alex Spiro, an attorney representing X (Twitter) sent a letter to the Center for Countering Digital Hate (CCDH) on July 20, threatening legal action over the Center’s research on hate speech and content moderation. It mentioned that researchers intended to harm the social media platform’s business with their incendiary claims. The sent by X raised doubts about the researchers’ expertise, while it suggests that the CCDH received funds from some of X’s competitors. The Center for Countering Digital Hate (CCDH), a nonprofit organization holds operational offices in the U.S. and the United Kingdom. The center orderly publishes reports on hate speech, extremism, and harmful behavior over the biggest of the social media platforms, including X (formerly Twitter), TikTok, and Facebook. Recommended A

Liquidation and overcollateralization issues are still the main challenges in the DeFi space, but this layer-1 protocol attempts to challenge the status quo. Since emerging, decentralized finance (DeFi) has revolutionized finance by providing accessibility and control. Crypto lending is one of the most critical use cases in DeFi, enabling crypto holders to lend and borrow assets without intermediaries, thus democratizing access to financial services. Challenges faced by DeFi The privileged position of lending protocols in DeFi is underlined by the three most prominent players in this subsector: Aave, JustLend and Compound. Together, these platforms boast over $12 billion in total value locked (TVL) — about 23% of DeFi’s overall TVL of $50 billion as of mid-July 2023. These numbers demonstrate the immense potential and interest in decentralized lending. Nevertheless, DeFi lending still faces critical challenges. The two main concerns are overcollateralization and the high risk of li

According to the company, the SEC shouldn’t allow any Bitcoin spot ETF associated with Coinbase without also approving Grayscale and other applicants. In order to avoid “picking winners and losers,” Grayscale requested in a letter to the Securities and Exchange Commission (SEC) of the United States that all eligible Bitcoin spot ETF applications be approved simultaneously. The company countered that, in accordance with the SEC’s pre-established guidelines, Coinbase shouldn’t be allowed to offer such a product as a surveillance partner. Why Coinbase Is Insufficient? According to the comment letter, the SEC has long questioned the pricing information provided by ‘unregulated’ Bitcoin trading sites. Grayscale referred to the SEC’s outright rejection of GraniteShares ETP Trust’s intention to join Gemini’s exchange in a surveillance-sharing arrangement (SSA) in 2018. Gemini was found by the SEC to not be a regulated market equivalent to a national securities exc

The Bank of Japan announced a hawkish twist to its Yield Curve Control [YCC] program today. The government said that it would offer to buy 10-year bonds at 1% in fixed-rate operations. Previously, the figure stood at 0.5%. The surging inflation in 2023 has put pressure on the BoJ to shred its seven-year policy of buying bonds to suppress yields. On the back of the latest announcement, the 10-year Japanese Government Bonds’ [JGB] yield rose to 0.572%, the highest level recorded in almost nine years. The yen went on to briefly strengthen its position against the dollar by creating a daily high of 0.007242. Source: Financial Times Typically, the rise in bond and currency yields is not optimistic for crypto , given the inverse relation they share. The latest rise is theoretically detrimental to Bitcoin. For the most part of 2023, the Yen has lost value. BTC, on the other hand, has almost doubled in value. The latest uptrend initiated by the Japanese currency has coincided with Bitcoin

According to a CNBC report, the 25-basis point increase to a target range of 5.25 – 5.5% propelled the cost of borrowing in the US to the highest level in more than 22 years. advertisement Remarks by the Fed Chair, Jerome Powell indicated that inflation had eased since mid-last year but insisted on the need to achieve its 2% goal, implying that the country “has a long way to go.” In other words, there is a possibility of another data-driven decision that would lead to a hike, especially in September “if the data warranted.” Investors in risk assets like Bitcoin have faulted the Fed for its hawkish approach to policy making with Powell saying the bank may “choose to hold steady and we’re going to be making careful assessments…, meeting by meeting.” Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read

BNB Chain noted that the rise in verified smart contracts highlights the demand for security, reliability and scalability. Although some consider the second quarter of 2023 a lost quarter, others find that the smart contracts industry remains resilient. Even though the crypto space suffered from lower investments from venture capital firms, developers continue to deploy smart contracts , signaling a growing demand for blockchain-based solutions.  In its Q2 report for 2023, blockchain platform BNB Chain noted an increase in verified smart contracts. According to the report, platforms like BNB Chain, Ethereum, Polygon, Fantom, Avalanche, Arbitrum and Optimism all recorded a percentage increase in verified smart contracts in Q2. Number of smart contracts verified weekly from September 2022 to the end of June 2023. Source: BNB Chain BNB Chain said that the rise in verified smart contracts across multiple blockchains highlights the “increasing importance placed on security, reliability,

The UK’s National Crime Agency is seeking to address rising crypto -related crimes and plans to hire Digital Assets Cryptocurrency Financial Investigations Managers. In the past year, there has been a surge in schemes involving crypto, leading to numerous residents falling victim. Tackling crypto crimes  Subsequently, the UK’s National Crime Agency (NCA) is seeking for qualified crypto investigators to combat crypto -related crimes. The Cryptocurrency Financial Investigations Manager (CFIM) position requires specialized skills and expertise in crypto transactions. In the UK, the Investigations Directorate of the NCA plays a crucial role in combating crime. You might also like: Bank of England’s Project Rosalind results out, digital pound plans in progress Using an intelligence-led approach, they target criminal activities beyond the scope of other law enforcement agencies. Its primary focus is protecting the public and ensuring national safety by combating serious and

The crypto exchange’s move to withdraw its license in Germany comes amid reports that the exchange faced rejection from regulators. Binance has withdrawn its cryptocurrency custody license application in Germany. The exchange confirmed its withdrawal to Cointelegraph on July 26, nearly a month after reports of rejections from The German Federal Financial Supervisory Authority (BaFin). On June 29, BaFin reportedly rejected the crypto exchange’s custody license . However, at the time, it was unclear whether the regulator officially denied Binance’s application or if it verbally informed the company. However, Binance has now confirmed that it has formally withdraw n its license application . A spokesperson from Binance told Cointelegraph that it intends to re-apply for a license in Germany, with changes to its application reflecting the changes in the regulatory environment: “Binance confirms that it has proactively withdrawn its BaFin application. The situation, both in the global

Also Read: Pro-XRP Lawyer’s Twitter Account Hacked; Beware Of Fake Rewards advertisement SEC To Opt For Settlement? Pro crypto attorney, James Murphy aka MetaLawMan stated that there are several options that US SEC can consider. However, he expects that the commission might file a request for an interlocutory appeal within the next 2 weeks. He highlighted that this can happen as no final judgment has been presented yet. However, the SEC didn’t have the unilateral right to appeal as of now. A request by the commission would require permission from Judge Analisa Torres and the 2nd Circuit Court of Appeals in order to move ahead with an interlocutory appeal. As per the attorney, there is no such specific deadline for the initial request but it needs to be done promptly. He suggests that if Judge Torres agrees to the request then the commission would get the 10 days to head towards the 2nd circuit. Read More XRP News Here… Recommended Art

Top news agency Reuters highlights XRP significant impact on the altcoin market and broader crypto landscape following the recent US court ruling. Reuters, a leading news agency, has spotlighted  XRP ’s explosive growth  amid the recent regulatory clearance from the US court. According to a recent report by Reuters, XRP has emerged as an unexpected force in the crypto market, thwarting regulatory challenges and reigniting investor interest. Specifically, the day the  US court ruled   XRP ’s non-security status saw the digital asset rise over 87% in a few hours, pushing its price to nearly $1 from around $0.4.  XRP Ruling Propelled the Altcoin Market in Billion  Reuters  highlights  that XRP’s landmark legal victory has had a ripple effect on the broader altcoin market as the market cap for all altcoins rose from $636.38 billion to $665.2 billion after the ruling. Similarly, according to the report, coins initially tagged as securities by the US regulator saw 11% followi

Join Our Telegram channel to stay up to date on breaking news coverage Ripple CEO Garling house criticizes SEC as the regulator’s lawyer hints at a possible appeal in their case against Ripple. Amid recent indications that Ripple is preparing for another round of regulatory challenges, the ruling by Federal District Judge Anissa Torres affirming that Ripple won’t be classified as a security when sold to retail investors has significantly boosted Ripple’s value, propelling it to become the fourth largest cryptocurrency by market capitalization. SEC lawyers in the ongoing case against Terraform’s labs have raised concerns about the court’s past decisions on the legal definition of security, arguing that the court should not follow those precedents. SEC staff is actively exploring additional avenues for further reviewing the case. SEC is Not a Cop on the Crypto Beat – Ripple CEO  Brad Garling house expressed frustration with the SEC’s dogmatic approach to crypto regulations,

Investors are cautiously navigating the market ahead of a busy week, including interest rate decisions from the United States Federal Reserve, the European Central Bank, and the Bank of Japan. advertisement A 25-basis points hike is anticipated in the US in addition to the release of the “actual GDP in the second quarter and the PCE price index in June,” Coin Wu of Wu Blockchain reported. There are a lot of macro events this week. The US Federal Reserve, the European Central Bank, and the Bank of Japan will announce the latest interest rate resolutions. It is expected that the Fed will raise interest rates by 25bps with a high probability; in addition, the United… — Wu Blockchain (@WuBlockchain) July 24, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read