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Initial Exchange Offerings (IEOs) have emerged as a popular fundraising method for blockchain projects, bridging the gap between initial coin offerings (ICOs) and centralized exchanges. In an IEO, a cryptocurrency exchange acts as an intermediary, facilitating the sale of tokens directly to investors. This setup provides several advantages, including enhanced security and reduced risk of fraud. The process typically begins with a project undergoing a vetting process by the exchange, ensuring that only credible projects are listed. Once approved, the tokens are sold through the exchange’s platform, allowing users to purchase them using established cryptocurrencies, such as Bitcoin or Ethereum. For investors, IEOs offer several benefits. They often come with greater transparency, as exchanges conduct due diligence on projects before listing. Additionally, immediate access to tokens on an exchange can facilitate liquidity, allowing for quicker trading post-sale. However, investors sh...

In their filing, the legal practitioners advocated for the Court to steadfastly adhere to the established definition of the term 'investment contract' when interpreting its scope. A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC). An amicus brief is a legal instrument submitted to the court which originates from a party not directly engaged in the pertinent case. Its typical purpose is to provide supplementary arguments in favor of one side of the lawsuit while underscoring the wider implications that the case may carry beyond the immediate litigants. The group of legal scholars presented their amicus brief to the U.S. District Court situated in the Southern District of New York. Leveraging their understanding of securities laws, they embarked upon the task of shedding light on the intricate historica...

The purpose of the legislation is to establish a framework for licensing and regulating virtual asset service providers. Namibia has joined other African nations in embracing cryptocurrencies and digital assets with the approval of a bill by the Namibian National Assembly. The bill which was passed on June 22, aims to regulate digital assets, cryptocurrencies and the providers of digital asset services within the country, signaling a positive outlook for the industry. The purpose of the legislation is to establish a framework for licensing and regulating virtual asset service providers. It also aims to designate a regulatory authority responsible for supervising these providers and their activities. The main objectives include ensuring consumer protection, preventing market abuse, mitigating the risks of money laundering, financing terrorism and proliferation activities associated with virtual asset markets. The law also covers incidental matters related to these objectives. Screens...

This week’s Crypto Biz explores Hotbit’s closure, Hong Kong’s licensing of crypto firms, Bitstamp’s acquisition by Ripple and Ledger’s branding crisis. Another centralized exchange (CEX) bites the dust, with Hotbit announcing it will close operations due to adverse business conditions. As is common among CEX collapses in recent months, the crypto firm mentioned FTX, the ongoing banking system crisis, and even a probe, as reasons for its cash flow problems. Also facing a tough time is wallet provider Ledger. The company decided to postpone its controversial recovery service amid community backlash. Security reputation is critical for a crypto wallet provider, but Ledger’s dilemma may be beyond a public relations crisis. The recovery service was also a path toward subscription service s, which could generate recurring revenue for the wallet provider. The feature is now postponed until most of its code is open-sourced, said Ledger. In challenging times, there are also opportunities f...

Taiwanese lawmakers reportedly expect to finalize a crypto regulatory framework by the end of March or April at the earliest. The Financial Supervisory Commission (FSC) of Taiwan will become the main regulator of Cryptocurrencies in the island country, according to the head of the authority . FSC chairman Huang Tien-mu has announced that the regulator will assume the supervisory authority on the crypto industry in Taiwan, the local news agency United Daily News reported. Huang addressed Taiwan’s parliament, the Legislative Yuan, on March 20 regarding the regulation of cryptocurrencies in the Republic of China (ROC). He pointed out that the FSC’s upcoming crypto regulatory framework will include major rules and policies, including separation of customer assets from company’s funds and investor protection practices. The official specified that the FSC is currently instructed by the nation's highest administrative body — the Executive Yuan — to supervise payments and transactions...

Bullish BTC traders are using excessive leverage, but bears’ reluctance to fight back could extend the current Bitcoin price rally. Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors' risk assessment for cryptocurrencies. A stronger than expected U.S. inflation report on Feb. 14 presented 5.6% growth year-over-year, followed by data showing resilient consumer demand caused traders to rethink Bitcoin's scarcity value. U.S. retail sales increased by 3% in January versus the previous month — the highest gain in almost two years. On-chain data indicates that the recent gains can be traced back to a mysterious institutional investor that started buying on Feb. 10. According to Lookonchain's data, nearly $1.6 billion in funds have flowed into the crypto market between Feb. 10 and Feb. 15. The analysis sh...

The SEC’s crackdown on Kraken has sent a shockwave through the crypto sector. Is this week’s correction a buy the dip opportunity or a sign of worse things to come? On Feb. 9, United States Securities and Exchange Commission (SEC) chair Gary Gensler explained why the regulator had cracked down on Kraken cryptocurrency exchange, forcing it to stop its crypto staking program for U.S. clients. This news may have rattled crypto investors and they sold aggressively. Bitcoin (BTC) crashed about 5% on Feb. 9 and several altcoins also followed suit. The fresh round of selling has traders wondering whether the bear market has resumed or if the dip should be interpreted as a buying opportunity. This question may be troubling to investors, but for now the correction looks to be a normal corrective phase where Cryptocurrencies give back some of the gains made in January. However, it would be prudent to wait for the correction to end and a bottom to be confirmed before considering fresh purchases....

SOL price jumped 20% after falling to its worst level since February 2021 with Solana's technicals suggesting that more upside is possible. Solana (SOL), the cryptocurrency once supported by Sam Bankman-Fried, pared some losses on Dec. 30, a day after falling to its lowest level since February 2021. Solana price down 97% from November 2021 peak  On the daily chart, SOL's price rebounded to around $10.25, up over 20% from its previous day's low of approximately $8.  SOL/USD weekly price chart. Source: TradingView Nevertheless, the intraday recovery did little to offset the overall bear trend — down 97% from its record peak of $267.50 in November 2021, and down over 20% in the past week.  But while the year has been brutal for markets, Solana now joins the ranks of the worst-performing tokens of 2022, namely FTX Token and LUNA, which are down around 98%.  FTT (red) vs. LUNA (green) vs. SOL (blue) performance since November 2021. Source: TradingView SOL price could recover 5...