Author: Coin Telegraph
The US Securities and Exchange Commission has said it doesn’t intend to refile its securities fraud complaint against Hex founder Richard Schueler, who goes by Richard Heart.“Plaintiff Securities and Exchange Commission provides this notice that it does not intend to file an amended complaint in this matter,” the regulator’s lawyer, Matthew Gulde, stated in an April 21 letter to New York District Court Judge Carol Bagley Amon. The court had previously dismissed the SEC’s original complaint on Feb. 28 as Judge Amon said the regulator failed to establish that it had jurisdiction over Heart’s activities, which she said were not specifically targeted…
Bitcoin has broken above $93,000 for the first time in seven weeks, extending its post-Easter rally as recent macro events have analysts expecting more upside.Bitcoin (BTC) has climbed 5.62% over the past 24 hours and surpassed $93,000 on April 22 for the first time since March 3, continuing a 12% price rally its seen over the past seven days, according to CoinMarketCap.Bitcoin traders eye “craziest one-minute candle”Bitcoin quickly jumped from just below $91,500 to $93,000 in minutes, leaving traders guessing where the rally could go next.“This is the craziest one-minute candle I’ve ever seen on the Bitcoin chart,” Bitcoin commentator…
The US Securities and Exchange Commission and federal prosecutors have charged a man they allege created a crypto scheme that swindled 90,000 people out of $200 million in the hopes of earning returns from Bitcoin and forex trading.The SEC said on April 22 that it had charged Ramil Palafox, a dual citizen of the US and the Philippines, claiming he misappropriated over $57 million in investor funds gained through his company, PGI Global, between January 2020 and October 2021.The regulator alleged Palafox used a multilevel marketing model to execute a “Ponzi-like” scam until the company’s collapse in 2021. The SEC…
The Federal Court of Australia has sided with fintech firm Block Earner in an appeal against a ruling that found it was required to hold a financial services license for its now-discontinued crypto-related products. Block Earner’s crypto-linked fixed-yield earning product is not a financial product, or a managed investment scheme, and is not a derivative under the Corporations Act, Justices David O’Callaghan, Wendy Abraham and Catherine Button said in an April 22 judgment. The trio said Block Earner’s yield product couldn’t be classed as an investment or financial product because users loaned crypto under fixed terms for interest payments and didn’t pool…
The Federal Court of Australia has sided with fintech firm Block Earner in an appeal against a ruling that found it was required to hold a financial services license for its now-discontinued crypto-related products. Block Earner’s crypto-linked fixed-yield earning product is not a financial product, or a managed investment scheme, and is not a derivative under the Corporations Act, Justices David O’Callaghan, Wendy Abraham and Catherine Button said in an April 22 judgment. The trio said Block Earner’s yield product couldn’t be classed as an investment or financial product because users loaned crypto under fixed terms for interest payments and didn’t pool…
Former SEC Chair Jay Clayton confirmed that he has been appointed as the interim US Attorney for the Southern District of New York after the Democratic Party’s Senate leader used a “blue slip” to block a vote confirming Clayton’s position.The appointment comes a little over five months after US President Donald Trump nominated Clayton to take on the role. He replaces Damian Williams, who played a major role in the conviction of former FTX CEO Sam Bankman-Fried and other high-profile crypto cases.Clayton said on April 22 his top priorities would be to protect public safety, ensure the integrity of the…
Demand from financial institutions could push the price of Bitcoin (BTC) as high as $200,000 per coin in 2025, according to two research reports reviewed by Cointelegraph. Analysts from Standard Chartered and Intellectia AI said institutional Bitcoin demand from exchange-traded funds (ETFs) and traders seeking to hedge against macroeconomic risk could cause Bitcoin’s price to more than double this year.“While the forecast is optimistic, it’s also conditional. Any black swan — from a major regulatory clampdown to a geopolitical event — can disrupt trajectories,” Fei Chen, Intellectia AI’s chief investment strategist, told Cointelegraph. Bitcoin ETF inflows since January 2024. Source: CoinGlassRelated: US Bitcoin…
The XRP Ledger Foundation has identified a “serious vulnerability” in the official JavaScript library used for interacting with the XRP Ledger blockchain network, the nonprofit said.On April 22, blockchain security specialist Aikido said in a blog post that XRP Ledger’s open-source JavaScript library was “compromised by sophisticated attackers who put in a backdoor to steal cryptocurrency private keys and gain access to cryptocurrency wallets.” The JavaScript library includes programs enabling developers to interact with the XRP Ledger and is distinct from the blockchain network itself. ‘“[T]his package is used by hundreds of thousands of applications and websites making it a potentially catastrophic…
Bitcoin (BTC) surged to a 45-day high above $91,000 on April 22, and the upward movement coincided with gold reaching a new all-time high. The price gains reflect investors’ concerns over a potential economic recession amid ongoing global trade tensions.The tides are shifting, but does data support a Bitcoin price rally above $95,000?Bitcoin 2-month futures annualized premium. Source: Laevitas.chIn neutral markets, the Bitcoin futures premium typically ranges between 5% and 10% to compensate for the longer settlement period. At present, the annualized premium stands at 6%, which is not considered particularly bullish, even though BTC appreciated by $6,840 between April…
US Securities and Exchange Commission member Hester Peirce, currently leading the agency’s crypto task force, offered a preview of what the industry could expect now that Paul Atkins has been sworn in as the regulatory body’s chairman.Speaking to Cointelegraph before the US Senate confirmed Atkins’ nomination and he took his position as SEC chair, Peirce said she welcomed the opportunity to work again with the incoming agency leader. Peirce worked as Atkins’ counsel from 2004 to 2008 during the then-commissioner’s first term at the SEC.“He cares about economic growth and how the markets that we regulate can support economic growth,”…