The recent charges levied by the U.S. Securities and Exchange Commission against Galois Capital, a crypto-focused advisory firm, highlight a crucial failure in ensuring that client assets were custodied with a qualified custodian. The SEC’s investigation revealed that Galois failed to uphold this fundamental responsibility, instead opting to hold the crypto assets with unqualified platforms
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The recent price volatility of Bitcoin, including a drop below $50,000, has caused concern among analysts and investors. However, one crypto analyst, CryptoCon, remains bullish on Bitcoin’s future, predicting a sharp rise to over $100,000 once current price corrections stabilize. Despite the market turbulence, CryptoCon believes that Bitcoin’s highly anticipated bull run is still on
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The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. The charges were related to Galois Capital allegedly failing to comply with client asset safeguarding requirements, particularly crypto assets that were labeled as securities
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Bitcoin’s recent drop below $56,000 has raised concerns among investors, with Arthur Hayes predicting a potential further decline to $50,000. Hayes, the co-founder of BitMEX, pointed to broader macroeconomic factors such as the Federal Reserve’s actions and the dynamics of the US Treasury market as reasons for his bearish outlook. He highlighted the rise in
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The mobile gaming industry is buzzing with anticipation for the upcoming launch of Rebel Skies, a groundbreaking game developed by Faraway Games. Scheduled to hit the market in October 2024, Rebel Skies is generating excitement for its unique combination of action, real-time strategy (RTS), and deck building genres. This innovative approach promises players an immersive
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Recent data from CryptoQuant’s Ethereum Exchange Reserve metric has raised concerns within the cryptocurrency market. The metric, which monitors the amount of ETH stored in exchange wallets, has shown a noticeable increase. This uptick suggests that traders are moving their Ethereum onto exchanges in anticipation of selling, potentially adding to supply pressure and contributing to
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The US Securities and Exchange Commission (SEC) Commissioner, Mark T. Uyeda, recently highlighted the need for the development of specialized S-1 registration forms tailored to digital asset securities. Speaking at the Korea Blockchain Week 2024 event, Uyeda emphasized the importance of updating the SEC’s regulatory tools to effectively address the unique characteristics of digital assets.
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