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SafeMoon founders arrested; Kyle Nagy at large. The charges include wire fraud and money laundering. There are also accusations of misappropriation and investor deception. In a significant development, the founders of SafeMoon, a decentralized finance digital asset, are facing criminal charges in the United States. Braden John Karony and Thomas Smith have been arrested, while Kyle Nagy remains at large. The US Attorney’s Office for the Eastern District of New York has charged them with conspiracy to commit wire fraud and money laundering. The arrests and allegations Braden John Karony and Thomas Smith, two of the individuals behind SafeMoon LLC, were apprehended in Provo, Utah, and Bethlehem, New Hampshire, respectively. They are accused of participating in a scheme to de fraud investors in SafeMoon. This cryptocurrency, issued by SafeMoon LLC, gained immense popularity, with its market capitalization exceeding $8 billion. The charges revolve aro...

Fund management giant Fidelity filed an amendment for its proposed spot Bitcoin ETF (exchange-traded fund), helping buoy sentiment about regulatory approval for the new class of investment vehicles. The changes include how its ETF, called Wise Origin Bitcoin Trust, will protect customers’ Bitcoin in their accounts and inform investors about risks. The filing to the U.S. Securities and Exchange Commission (SEC) on Oct. 17 follows recent amendments made by Ark Invest and Invesco that highlight their efforts to comply with regulatory requirements. The filings show the companies are engaging in ongoing discussions with the SEC staff in order to ensure that their application includes the necessary information for potential approval. These are ”positive signs,” tweeted James Seyffart, a research analyst at Bloomberg Intelligence.  More proof that potential spot #Bitcoin ETF issuers are in communication with SEC regarding changes/amendments required for SEC to co...

Crypto funds recorded a third consecutive week of net in flows with Bitcoin dominant amid rising investor sentiment toward the sector, CoinShares said. Bitcoin was the standout performer, sucking in $16 million during the last week,  elevating its year-to-date in flows to $260 million, CoinShares said . It noted that the data was unlikely to have captured upbeat news on Friday that the Securities and Exchange Commission had not appealed a court verdict that favoured Grayscale Investments’ attempt to launch a spot Bitcoin exchange-traded fund (ETF). Net Flows By Asset (Source: CoinShares) Ethereum’s Dilemma Solana investment products added $3.7 million to the $24 million registered in the prior week. On the flip side, Ethereum, has struggled to attract investor interest despite the launch of futures-based ETFs . Ethereum funds experienced outflows amounting to $7.4 million, erasing most of the $10 million in inflows witnessed following the launch of six Ether ...

Fund manager Valkyrie gained approval to add Ethereum futures as part of its Bitcoin Strategy exchange-traded fund (ETF). “Today, the Valkyrie Bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and Bitcoin futures contracts under one wrapper,” a spokesperson told CoinDesk. 🚨BREAKING BULLISH NEWS🚨 Valkyrie is now letting people invest in #ETH futures with their combined Bitcoin and Ether Strategy ETF. They're the first in the U.S. to offer a chance to predict the future price of the second biggest digital currency! History in the making today… pic.twitter.com/os9m5IresJ — Bito Ordileone 🌹 (@bitoordileone) September 28, 2023 The company has now begun acquiring Ethereum futures contracts as it prepares to provide the offering starting October 3. As a result, Valkyrie’s Bitcoin Strategy ETF will be renamed to Valkyrie Bitcoin and Ether ...

Coinbase International Exchange has received regulatory approval. The approval underscores the company’s commitment to global expansion. Coinbase’s CEO continues to advocate for regulatory clarity. Coinbase, a leading cryptocurrency platform, has achieved a significant milestone by gaining regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures trading services to retail customers outside the United States. This development marks a strategic move to expand Coinbase’s global presence in the cryptocurrency market. Global futures market dominance The global futures market plays a pivotal role in the cryptocurrency ecosystem, accounting for nearly 80% of the total crypto market. It facilitates leveraged transactions and derivatives trading, which often contribute to market volatility. With this approval, Coinbase International Exchange aims to tap into the immense trading activity in the crypto derivatives ...

Hong Kong police arrested eight people in connection with a suspected $152 million fraud at beleaguered crypto exchange JPEX. The police have received 1,641 complaints from people who are unable to recover money from JPEX, according to a Sept. 19 press briefing. Twenty locations were raided across the city, including offices and over-the-counter (OTC) shops, with cash, jewellery, luxury handbags, computers, and phones worth about HK$8 million seized, the police said. Things began to unravel for JPEX on Friday, when Hong Kong’s Securities and Futures Exchange Commission (SFC) released a name-and-shame statement that said the exchange is not licenced to operate in Hong Kong. It also warned that JPEX had provided false information about obtaining licenses from foreign regulators, promoted business partnerships that never materialized, and was offering suspiciously high returns for its interest-bearing products. Hong Kong police held a press conference on Tuesday afternoon af...

$26,500 level holds the potential to serve as a pivotal point for Bitcoin price. According to market analysts, Hifi Finance could hit the highest price of $1.0. At press time, one Shiba Memu (SHMU) coin was going for 0.028225 USDT. The crypto market is once again on a bull cycle after a brief bear market that saw Bitcoin briefly drop below $25,000. As the crypto market rallies a number of cryptocurrencies among them Hifi Finance, Bitcoin, and Shiba Memu are trending. Shiba Memu, a new cryptocurrency project is riding the meme coins and artificial intelligence wave. Alhough its first target is to contend the top position among meme coins, the coin will most likely be among the top cryptocurrencies by the end of 2023 going by the way investors are trooping to the project. Shiba Memu is currently in the presale phase and it has already raised $2,931,352.80. Besides using AI to market itself, the price of Shiba Memu (SHMU) beeps adjusting upwards every few hou...

JPEX suspended some operations after a warning by Hong Kong’s securities regulator triggered a liquidity squeeze at the crypto exchange. The squeeze followed a Sept. 13 statement by Hong Kong’s Securities and Futures Commission that said the exchange is not licenced to operate in Hong Kong. It also warned that it had provided false information about obtaining licenses from foreign regulators, promoted business partnerships that never materialized, and was offering suspiciously high returns for its interest-bearing products. The South China Morning Post reported that JPEX had been named in 83 complaints to Hong Kong police over virtual assets worth HK$34 million ($4.35 million), and that police commissioner Raymond Siu had urged other victims to come forward. JPEX Blames Regulators and Market Makers JPEX quickly blamed the SFC for its plight in a notice on its website. “Due to the unfair treatment by relevant institutions in Hong Kong towards JPEX, a cryptocurrenc...

Join Our Telegram channel to stay up to date on breaking news coverage US Securities and Exchange Commission (SEC) Chair Gary Gensler shows no signs of softening his stance toward the crypto industry, saying in written testimony ahead of a Senate Banking Committee hearing today that the industry has “wide-raging non-compliance” issues and that most tokens are securities. “Given this industry’s wide-ranging noncompliance with the securities laws, it’s not surprising that we’ve seen many problems in these markets,” his written testimony said. “We’ve seen this story before. It’s reminiscent of what we had in the 1920s before the federal securities laws were put in place.” Just In ⚡SEC’s Gensler accuses crypto industry of ‘wide-ranging non-compliance’.#bitcoin#Crypto#cryptocurrency#cryptocurrencies Follow @LIGHTCRYPT01 • Your Daily Source of News & Insights ⚡ pic.twitter.com/s...

In this market Ripple has spent much time on the downside. And at a time when price action started peaking up once more hopes of  reaching the upside were dashed by a bearish candle . Consequently, this retracted the price of this crypto back to $0.3731. XRP Forecast Statistics Data: XRP’s current price: $0.3731 XRP market cap: $18.7 billion XRP circulating supply:49.4 billion XRP total supply: 99.99 billion XRP Coinmarketcap ranking: #7 Generally speaking, we can assume that this market is bearish, and with the current market behavior, Ripple’s value may fall lower. In this analysis, we’ll examine the market behavior, and try to predict where the price may get next. Also, we may come up with some trading moves, which can be made in this kind of market situation. Important Price Levels: Upper levels: $0.3721, $0.3750, $0.3721 Lower levels: $0.3731, $0.3725, $0.3718 Ripple Appears not Ready for an Upside Correction, But Tamadoge is On the XRP/USD...

Lucky Block: 29th of August As downward forces attempted pulling on Lucky Block towards the downside, this crypto has mounted a resistance against those forces. At the time of writing LBLOCK values around $0.002070 or more – as the value keeps advancing. Nevertheless, signs are hinting that this cryptocurrency&rsquo ;s value will increase further. LBLOCK’s Current Value $0.002070 LBLOCK’s Market Cap: $7.42 million LBLOCK’s Moving Supply: —— LBLOCK’s Overall Supply: 3.65 billion LBLOCK’s Position on Coinmarketcap: #3499 Major Value Marks: Upper Value Level: $0.002100, $0.002150, $0.002200 Lower Value Level: $0.002070, $0.002020, $0.001990 Value  Deduction for LBLOCK: Lucky Block Sets Sail to Catch a Tailwind Value activities on the LBLOCK/USD four hours chart stay at the reach of upward forces . On this chart price candle remains higher than the center limit of the Bollinger band. As a result, this places price activi...

Join Our Telegram channel to stay up to date on breaking news coverage Binance, a renowned cryptocurrency exchange platform, recently launched a Football Fan Token Index perpetual contract (FOOTBALLUSDT) that tracks the performance of certain football fan club tokens listed on the Binance spot market. Binance Football Fan Token Index is available 24/7 trading hours and can give up to 25 times leverage. To adapt to the market conditions , Binance will adjust the contract specifications periodically, which may include modifying metrics like tick size, maximum leverage, maintenance margin requirements, and initial margin . The crypto exchange company also launched its USDC perpetual contracts, a new product that will allow the users to trade their USDC balance on Binance derivative market. The USDC perpetual contract can be used as collateral with no expiration date and place short or long contracts with up to 25x leverage. Users can place orders depending on the number of cryp...

Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina launches yet another dollar exchange rate. Latin American Nations Sign Pact to Fight Inflation On April 5, eleven countries in Latin America, including Argentina, Brazil, Chile, Colombia, Cuba, and Venezuela, signed an agreement to fight inflation by adopting a system that will create facilities for exporting and importing basic goods. The priority is to allow citizens to obtain these goods at affordable prices. President of Mexico Andres Lopez Obrador explaining the anti-inflation deal. Source: Gobierno De Mexico Twitter account. For this, the countries agreed to “advance in the definition of commercial facilities, as well as logistical, financial and other measures, that allow the ex...

Join Our Telegram channel to stay up to date on breaking news coverage Securities and Exchange Commission (SEC) Chair Gary Gensler said the cryptocurrency industry is the ”wild west” and requested an additional $109 million in funding to rein it in. Gensler made the remarks yesterday in prepared testimony before the U.S. Senate Appropriations Committee’s Subcommittee on Financial Services and General Government. He requested additional funds for the SEC that would increase its overall budget to $1.4 billion. He also expressed support for the Biden administration’s proposal to increase the SEC’s budget, citing the urgent need for “new tools, expertise, and resources” to address the noncompliance issues prevailing in crypto markets. Gensler’s Testimony and Request for Budget Increase NEWS : SEC Chair Gensler Seeks Fresh $109 Million Funding To Regulate Crypto ‘Wild West’: Gary Gensler, the controversial US Securiti...