The United States Federal Reserve has sent a cease-and-desist letter to crypto media publication Bitcoin Magazine, accusing it of trademark violations, according to a Nov. 3 post from the publication. Bitcoin Magazine claims it is being targeted because of its use of the word “FedNow” on “t-shirts, hats, and other wearables.” FedNow is the trademarked
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A trader managed to exploit the brief opening of the Multichain cross-chain bridge, which was frozen since its exploit in July 2023, allowing the trader to turn
Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move. A mild correction during an uptrend
Ripple has announced a major achievement in the XRP ecosystem as the cryptocurrency has been officially approved for use within Dubai’s financial ecosystem by the Dubai Financial Services Authority (DFSA). XRP Gets Greenlight in DIFC Ripple revealed in an X (formerly Twitter) post on Thursday that XRP, the native token of the Ripple network has
The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of the Artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in. Creditors stake their claims to try to recoup some of their investment
While publicly mocking non-fungible token (NFTs) during a podcast, Tesla CEO and billionaire Elon Musk appears to have inadvertently highlighted the case for Bitcoin Ordinals, also known as Bitcoin NFTs. “The funny thing is the NFT is not even on the blockchain — it’s just a URL to the JPEG,” said Musk in an Oct.
Abu Dhabi, the second-most populous emirate in the United Arab Emirates, has introduced a formal regulatory framework for decentralized autonomous organizations (DAOs) and other digital ledger entities as it doubles down on its ambition to be a leader in digital asset innovation within the Middle East. The new framework allows DAOs to operate legally and
This week Bitcoin (BTC) price came within a hair of the $36,000 mark, before abruptly reversing course and correcting to $34,250. After a near 30% run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalysts for the
ProShares, a major issuer of exchange-traded funds (ETF), announced the launch of the short Ether-linked ETF on Nov. 2. ProShares’s new Short Ether Strategy ETF is set to start trading on the New York Stock Exchange’s Arca under the ticker symbol SETH and is designed to provide investors with an opportunity to profit from the volatility
Visa completes Hong Kong digital currency trial with HSBC and Hang Seng Hong Kong is one step closer to a central bank digital currency (CBDC) with the release of its successful phase 1 results in collaboration with Visa, HSBC and Hang Seng Bank. According to a Nov. 1 announcement, Visa said that it achieved “near
Bitcoin (BTC) broke below $35,000 after the Nov. 2 Wall Street open as analysis warned of “overheated” derivatives. BTC/USD 1-hour chart. Source: TradingView Bitcoin undoes post-Fed gains Data from Cointelegraph Markets Pro and TradingView tracked a retreating BTC price as it erased ground it reclaimed overnight. The largest cryptocurrency had hit new 18-month highs of
The governing body for the aragonOS software will dissolve, distributing most of its assets to token holders in the process, according to a Nov. 2 blog post. The body, called the Aragon Association (AA), will distribute 86,343 Ether (ETH), approximately $155 million at the current price, from its treasury to token holders as it unwinds.
The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC). The tokens’ new status will allow financial institutions in the DIFC
Arthur Hayes, the former CEO of crypto derivatives exchange BitMEX, has “admitted” to buying Solana’s SOL (SOL) at its possible local top, stressing his bullish outlook for the cryptocurrency. Fam I have something embarrassing I must admit. I just bot $SOL, I know its a Sam-coin piece of dogshit L1 that at this point is
Read Part 1 here: Slumdog billionaire: Incredible rags-to-riches tale of Polygon’s Sandeep Nailwal Growing up in poverty in a Delhi ghetto with an alcoholic father and an illiterate mother, Sandeep Nailwal has always had a fire in his belly to achieve something better. He wants to go big or go home — middling success is
Payment giant PayPal has received a subpoena from the United States Securities and Exchange Commission (SEC) regarding its U.S. dollar-pegged stablecoin. The Enforcement division of the SEC has sent a subpoena to PayPal related to its PayPal USD (PYUSD) stablecoin, the firm disclosed on Nov. 2, according to a report by Reuters. The action comes
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