Category: Cryptocurrency News

The former FTX CEO was reportedly invited by Vogue editor-in-chief Anna Wintour to be her special guest at the Met Gala, only to cancel at the last minute.

A pro-XRP lawyer has highlighted more casualties and negative impacts the regulatory authority has inflicted on XRP and its investors as well as individuals and businesses associated with the cryptocurrency.  So while Ripple has stated it has lost over $200 million in its fight against the US SEC, it seems that is not the only loss that has been incurred in the drawn-out battle.  SEC Allegedly Damaged 75K XRP Followers John E. Deaton, a pro-XRP lawyer has taken to X (formerly Twitter) to publicly admonish the United States Securities and Exchange Commission (SEC) for its series of legal actions and enforcements against XRP, the native token of Ripple Labs.  Related Reading: Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point Deaton has been a strong advocate for XRP since its fight against the US SEC began in 2020, and the cryptocurrency enthusiast and lawyer has actively participated in the community, airing out his views in defense of the cryptocurrency and its value as a global payment asset.  In a recent post, Deaton stated that the US SEC has negatively affected thousands of XRP investors and users and these people have been protesting against the SEC’s actions toward the ecosystem for three years. “The SEC harmed a lot of innocent people in the process. 75K investors, users, developers, and small businesses have been screaming the above for 3 years,” Deaton stated.  According to a civil filing, the SEC has destroyed more than $15 billion worth of assets owned by innocent holders of XRP who had acquired the token on secondary marketplaces. Ripple And SEC Legal Battle Developments RealClearPolicy (RCPC), an American policy website, recently published an article titled “The SEC is not King” on Thursday, September 30.  In an X repost, Deaton acknowledged the article which highlighted significant aspects of the Ripple and SEC legal case from when the regulatory body filed a lawsuit against the crypto firm earlier in 2020, alleging that Ripple was selling unregistered security offerings.  Ripple had aggressively defended itself against the SEC and achieved a partial victory after Judge Analisa Torres ruled in favor of Ripple and rejected the SEC’s allegations that sales of XRP tokens on exchanges are security sales.  In a possible attempt to salvage its reputation and also gain the upper hand against XRP, the SEC filed an interlocutory appeal to reevaluate the Judge’s ruling and its case against the token. In light of this, Deaton published a blog post titled “The Irony of Interlocutory Appeal” last week, castigating the SEC’s appeal scheme to potentially delay the litigation. Related Reading: XRP Price Threatened As Ripple Unlocks 1 Billion Coins The US SEC has also been struck by a blow that may put a dent in its case with XRP. The defense team of Ripple recently exposed a pile of internal SEC documents and secret positions about the token which could significantly undermine the SEC’s argument that XRP should be treated as a security.  This recent development has thrown a curveball in the ongoing legal battle between the US SEC and XRP, raising questions about the SEC’s intentions for the crypto industry and its method of handling cryptocurrencies. Token price shows strength to kick off new week | Source: XRPUSD on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com

The latest delays came two weeks before the second deadline for many applicants.

The license allows GSR to provide crypto and fiat-related services to Singaporean residents and entities.

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Bitcoin and select altcoins are looking strong at the start of October, but will the flashpan bullish momentum last?

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On-chain data shows the Bitcoin Miners’ Position Index (MPI) has formed a death cross recently, a sign that the asset’s rally may end. Bitcoin MPI Has Formed A Bearish Crossover Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the 365-day moving average (MA) of the BTC MPI has crossed above the 90-day recently. The “MPI” here refers to an indicator that measures the ratio between the miner outflows and the yearly MA. The “miner outflows” are the amounts these chain validators transfer out of their combined wallets. Generally, the miners take out their coins for selling purposes, so the miners outflows can measure how much dumping they are currently partaking in. Miner outflows are usually not that unusual, though, as this cohort has to constantly sell what they mine to pay off their running costs like electricity bills. What can be notable, however, is whether their selling deviates from the norm. Related Reading: Ethereum ETF: Valkyrie Halts Purchase Of ETH Futures Contracts The MPI provides us with information about precisely this since it compares the outflows against their 365-day MA. When the metric is greater than 0, the miners are selling more than the average for the past year, while negative values imply the opposite. Now, here is a chart that shows the trend in the 90-day and 365-day MAs of the Bitcoin MPI over the last few years: The two MAs of the metric appear to have crossed the path of each other in recent days | Source: CryptoQuant The above graph shows that the 90-day MA Bitcoin MPI (colored in orange) has declined during the last few weeks. Recently, the metric crossed below the 365-day MA, consolidating sideways. Historically, the crosses of the two MAs of the BTC MPI have appeared to be significant for the cryptocurrency’s price. In the chart, the quant has highlighted the major crossovers that occurred during the last few years. Whenever the indicator’s 90-day MA has observed a cross above the 365-day MA, BTC has gone off to witness some bullish momentum. Such a cross preceded the April 2019 rally, the 2021 bull run, and the rally that started this January. On the other hand, the opposite type of cross has proven to be bearish for the asset’s value, as steep declines have followed it. Since this death cross has once again formed for Bitcoin recently, it may signal that this year’s rally has reached its conclusion. Related Reading: Chainlink Signal That Preceded Crashes Of 34% Is Back However, the crossover is still in the process of forming, meaning that the coming weeks may be important. If the 90-day MA can turn itself around quickly, then the death cross may not form, but if the metrics continue in their current trajectory, the bearish signal would be solidified. BTC Price Regardless of the death cross, Bitcoin has observed some sharp bullish momentum during the past 24 hours, as the asset has surged to the $28,300 level. BTC has registered a sharp jump in the past day | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, CryptoQuant.com

According to the scientists, there’s no universal method by which data can be deleted from a pretrained large language model.