Bankrupt cryptocurrency lending firm Celsius has requested the court to grant relief in the motion related to the distribution of funds from its sale of the self-custody platform GK8. On July 17, the Celsius Network’s debtors submitted a filing stating that its Series B holders have agreed on a settlement to distribute $25 million from the…
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Three months after Faruk Fatih Özer — the founder and former CEO of Thodex — was detained in Türkiye, he received a prison sentence of seven months and 15 days for failing to submit documents requested during the trial. Thodex was once one of the biggest crypto exchanges in Türkiye before it suddenly shut down,…
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Despite several high-profile cryptocurrency implosions, the number of people working in the industry has soared over the past four years. According to findings by the crypto research startup K33, the number of crypto-related employees has surged nearly 160% since 2019. In a report titled “The Emerging Crypto Industry,” K33 estimated that the total headcount of…
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Caroline Pham, the Commodities Futures Trading Commission (CFTC) Commissioner, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory. Speaking on Bloomberg TV on July 17, Commissioner Pham said recent big court decisions regarding the classification of crypto assets will eventually lead to regulatory clarity. “You know, last…
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Gary Gensler, the chair of the United States Securities and Exchange Commission, believes staff at its agency could benefit from greater use of artificial intelligence. During a July 17 speech before the National Press Club, where he later broke his silence about the recent Ripple court ruling, Gensler listed several potential use cases of AI that could…
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Crypto firms and influencers may need to start slapping disclaimers on crypto memes to stay compliant with advertising laws in the United Kingdom, according to a new proposed guidance from the country’s financial regulator. On July 17, the Financial Conduct Authority (FCA) released a proposed guidance on social media financial promotions which targets promotional memes…
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Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13. While Wood noted the ruling wasn’t in outright favor of Ripple, she lauded the outcome as “by and large, very positive for [crypto] exchanges.”…
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United States Securities and Exchange Commission (SEC) chair Gary Gensler has commented publicly about the last week’s ruling on the agency’s suit against Ripple. Gensler gave a talk on artificial intelligence at the National Press Club on July 17 and was asked about the ruling during the questions and answers afterward. Does the ruling affect his stance…
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Multiple data points point to Bitcoin price falling below $29,000 in the short term. Yes, you read that right. Let’s investigate the main issues contributing to the current downside in Bitcoin price. Bitcoin (BTC) encountered difficulties breaking above $31,800 on July 13, resulting in a 6.3% correction down to $29,700 on July 17. The price…
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Timothy Massad, former chair of the United States Commodity Futures Trading Commission (CFTC), has said though a Securities and Exchange Commission (SEC) v. Ripple court ruling may impact the way businesses and lawmakers address crypto, his call for regulatory clarity remains the same. In a July 7 op-ed with The Wall Street Journal, Massad and…
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