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
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
WazirX, a cryptocurrency exchange, has initiated the second phase of its fiat currency withdrawal process earlier than scheduled, signaling a sense of urgency following a recent security breach. The company’s CEO, Nishal Shetty, took to social media to inform users about the accelerated withdrawal process, allowing them to access a portion of their funds deposited
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
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
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
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
Bitcoin, the most well-known cryptocurrency, has not been performing as expected this year. Despite initial predictions of a steady increase in price and a strong bull run, Bitcoin has faced severe declines, pushing its price below the $60,000 threshold. The prolonged bearish performance of Bitcoin has raised concerns among crypto analysts, with some warning of
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.
Binance CEO Richard Teng did not hold back in his condemnation of the Nigerian government’s treatment of Tigran Gambaryan. The American executive, who has been held in custody since February, was shown in a viral video struggling to walk into a courtroom. Teng’s plea for Gambaryan’s freedom for medical treatment and to be with his