Author: News Room
The Financial Industry Regulatory Authority (FINRA) has introduced a comprehensive section on its website dedicated to cryptocurrency. This new resource provides detailed information on the classification of crypto assets, the risks involved in trading them, and relevant investor protections. Classifications of Crypto Assets One key feature of the new FINRA section is a focus on the legal status of crypto assets. FINRA explains that, depending on applicable laws, certain cryptocurrencies may qualify as securities, commodities, or other asset types. While the term “crypto asset security” is not used explicitly, except in reference to a 2023 SEC Investor Alert, the authority…
The U.S. Department of Justice (DOJ) shut down the PopeyeTools marketplace, an illicit website known for offering stolen credit card data and fraud tools. The DOJ filed criminal charges against three individuals who reportedly operated the site: Abdul Ghaffar, 25, and Abdul Sami, 35, both of Pakistan, and Javed Mirza, 37, of Afghanistan. PopeyeTools: A Hub for Cybercriminal Activity According to the report, created in 2016, PopeyeTools became an online marketplace for cybercriminals worldwide. The site sold stolen financial data, bank account numbers, and tools designed for committing fraud. PopeyeTools allegedly served over 227,000 victims, generating over $1.7 million in…
MicroStrategy Inc.’s meteoric rise in recent weeks has placed its leveraged ETFs in the spotlight, sparking both investor enthusiasm and operational challenges for fund managers, according to a report published earlier today by Vildana Hajric for Bloomberg News. The T-Rex 2X Long MSTR Daily Target ETF (MSTU), launched by Matt Tuttle, has faced capacity limits from its prime brokers due to the inherent volatility of MicroStrategy’s stock, which is heavily tied to Bitcoin. At its debut, MSTU quickly gained traction, becoming one of the most volatile ETFs ever introduced on Wall Street. The ETF, designed to deliver double the daily…
A federal grand jury in Florida has indicted nine individuals accused of laundering drug money through cryptocurrency for Mexican and Colombian cartels. According to the US Department of Justice, the defendants allegedly operated a “network of black market cryptocurrency launderers and unlicensed money transmitters” to facilitate the scheme. Crypto Money Laundering Drug Scheme The operation, spanning from 2020 to 2023, involved collecting cash from drug sales across US cities, converting the funds into cryptocurrency, and transferring it to digital wallets under their control. The cryptocurrency was then converted back into cash and delivered to cartel leaders in Mexico and Colombia.…
Cboe Global Markets, Inc., announced plans to launch the first cash-settled options product linked to spot bitcoin, effective Dec. 2. The new offering seeks to enhance access to cryptocurrency derivatives for investors. New Bitcoin Options to Launch on Cboe Platform According to the announcement, the new product will be exclusively traded on the Cboe Options […] Read the full article here
Ethereum is undergoing its most prolonged inflationary period, with over 350,000 ETH (worth around $1.1 billion) added to its supply since the March Dencun upgrade, according to Ultrasound.money data. Ethereum’s current inflation rate is 0.35%.The increase has brought the total supply to 120.4 million ETH, leaving just under 95,000 ETH to match the levels seen at the Ethereum Merge in Sept. 2022.ETH’s nearly two years of supply reduction have been wiped out in just seven months since EIP-4844, also known as Dencun or Proto-Danksharding.How Dencun altered Ethereum’s supply dynamicsThe Dencun update introduced significant changes that reduced Ethereum’s base fee burn…
This week, the total cryptocurrency market exploded above $3.4 trillion for the first time in history, adding close to $400 billion in the process. This comes on the back of considerable gains across the board, including Bitcoin, Ethereum, Solana, Ripple, Cardano, and more. Let’s start with Bitcoin – the primary cryptocurrency that has been teasing traders by breaking out to $100K for more than a day now, inching closer and closer each time. At the time of this writing, it’s trading at slightly below $99,000, less than two percent away from $100,000. That said, Bitcoin is not the biggest start…
Bitcoin (BTC) is close to reaching $100,000, with prices hovering just over $99,000 after a recent spike. U.S. spot BTC ETFs have seen over $1 billion in net inflows, with BlackRock’s IBIT leading at $600 million. While there’s strong demand and bullish long-term bets with futures and options pricing above $100,000 into 2025, a short-term pullback near $100,000 is anticipated. Bitcoin (BTC) prices are a little over 1% away from reaching a landmark $100,000, close to 15 years after the asset was first issued. BTC prices spiked above $99,200 early Friday, dipping to $98,600 before holding over $99,000 in Asian…
The Graph, a decentralized indexing system that acts like a Google for blockchains, has unveiled a data standard for Web3. Called GRC-20, the standard will define how information is structured, distributed, and linked between decentralized applications, according to The Graph website in a blog post accompanying a proposal from developer Yaniv TAL to improve The Graph. The GRC-20 proposal builds on the concept of knowledge graphs, which Tal introduced in June. “Knowledge is created when information is linked and labeled to attain a higher level of understanding,” the blog explains, with knowledge graphs capturing the connections and relationships between pieces…
The enigmatic Shiba Inu lead Shytoshi Kusama shares a response to investors asking him to propel a massive price spike for SHIB. Shiba Inu has been unusually calm since its previous rally earlier this month, which saw it surge to $0.00003031. However, the token could not continue its uptrend as it recently plunged below the $0.000025 level. Investors Desire Substantial Rally for SHIB Amid Ongoing Market Uptrend With other crypto assets, particularly Bitcoin, witnessing significant price spikes, several SHIB investors have been urging the team behind the Shiba Inu ecosystem to make efforts that could lead to a substantial rally…