The Block Crypto News
Tensions flare at US House hearing after firms get SEC’s sign off to custody crypto, while others still say it’s impossible
➖ Elf Crypto Alert ➖
Tensions flare at US House hearing after firms get SEC’s sign off to custody crypto, while others still say it’s impossible
➖ Elf Crypto Alert ➖
The Block
Tensions flare at US House hearing after firms get SEC's sign off to custody crypto, while others still say it's impossible
During a congressional hearing, some U.S. lawmakers and crypto industry leaders denounced the SEC's approach to regulating crypto.
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The Block Crypto News
Fed cuts interest rates by 50 basis points, bitcoin trades higher
➖ Elf Crypto Alert ➖
Fed cuts interest rates by 50 basis points, bitcoin trades higher
➖ Elf Crypto Alert ➖
The Block
Fed cuts interest rates by 50 basis points, bitcoin trades higher
Bitcoin’s price traded higher on Wednesday afternoon after the Federal Reserve cut interest rates by 50 basis points to the 4.75%-5.00% range.
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The Block Crypto News
Ethena Labs temporarily shutters frontend website after its domain registrar account was compromised
➖ Elf Crypto Alert ➖
Ethena Labs temporarily shutters frontend website after its domain registrar account was compromised
➖ Elf Crypto Alert ➖
The Block
Ethena Labs temporarily shutters frontend website after its domain registrar account was compromised
The project noted the protocol itself is unaffected, but users should avoid “any site or application purporting to be the Ethena frontend."
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The Block Crypto News
The Daily: Bitget and Foresight Ventures invest $30 million in TON blockchain, CME futures traders increase bitcoin shorts ahead of Fed decision and more
➖ Elf Crypto Alert ➖
The Daily: Bitget and Foresight Ventures invest $30 million in TON blockchain, CME futures traders increase bitcoin shorts ahead of Fed decision and more
➖ Elf Crypto Alert ➖
The Block
The Daily: Bitget and Foresight Ventures invest $30 million in TON blockchain, CME futures traders increase bitcoin shorts ahead…
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
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The Block Crypto News
SEC charges DeFi platform Rari Capital with misleading investors and unregistered broker activity
➖ Elf Crypto Alert ➖
SEC charges DeFi platform Rari Capital with misleading investors and unregistered broker activity
➖ Elf Crypto Alert ➖
The Block
SEC charges DeFi platform Rari Capital with misleading investors and unregistered broker activity
The U.S. SEC settled charges against DeFi platform Rari Capital, Inc. after finding that the firm and its co-founders misled investors.
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The Block Crypto News
BlackRock’s new bitcoin paper outlines the cryptocurrency’s qualities as ‘unique’ hedge against global risks
➖ Elf Crypto Alert ➖
BlackRock’s new bitcoin paper outlines the cryptocurrency’s qualities as ‘unique’ hedge against global risks
➖ Elf Crypto Alert ➖
The Block
BlackRock's new bitcoin paper outlines the cryptocurrency's qualities as 'unique' hedge against global risks
Bitcoin has outperformed all other major asset classes in seven of the last 10 years, according to BlackRock's whitepaper.
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The Block Crypto News
PayPal’s PYUSD stablecoin tapped for transaction settlement on new TrueX exchange
➖ Elf Crypto Alert ➖
PayPal’s PYUSD stablecoin tapped for transaction settlement on new TrueX exchange
➖ Elf Crypto Alert ➖
The Block
PayPal’s PYUSD stablecoin tapped for transaction settlement on new TrueX exchange
The exchange was founded by two former high-level Coinbase employees, and will only be available to institutional investors.
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The Block Crypto News
UK fintech firm Revolut intends to launch stablecoin: report
➖ Elf Crypto Alert ➖
UK fintech firm Revolut intends to launch stablecoin: report
➖ Elf Crypto Alert ➖
The Block
UK fintech firm Revolut intends to launch stablecoin: report
Revolut's stablecoin will likely not be available in the United States, as the firm shuttered its U.S. crypto services last year.
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💥 Fed rate cut — -0.5%💥
The U.S. Federal Reserve has lowered the interest rate by 0.5% — the first cut since 2020! The current rate stands at 5%.
✔️ Meanwhile, Arthur Hayes believes that the Fed rate cut will lead to a decline in crypto.
🔽According to him, the rate cut will exacerbate inflation and strengthen the yen, causing a drop in risk assets.
Later, the Fed will continue cutting rates and quickly bring them close to zero. These low levels will positively impact the crypto market, as investors will look for better returns. They will find it in staking Ether, USDe, and BTC through the DeFi platform Pendle. ETH will benefit the most from ultra-low rates, offering a 4% annual yield.
The U.S. Federal Reserve has lowered the interest rate by 0.5% — the first cut since 2020! The current rate stands at 5%.
✔️ Meanwhile, Arthur Hayes believes that the Fed rate cut will lead to a decline in crypto.
🔽According to him, the rate cut will exacerbate inflation and strengthen the yen, causing a drop in risk assets.
Later, the Fed will continue cutting rates and quickly bring them close to zero. These low levels will positively impact the crypto market, as investors will look for better returns. They will find it in staking Ether, USDe, and BTC through the DeFi platform Pendle. ETH will benefit the most from ultra-low rates, offering a 4% annual yield.
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⚠️ Yesterday, a mass hack of accounts on the X social network, aimed at promoting the meme token HACKED on Solana, caught the attention of on-chain sleuth ZachXBT.
Various business pages and personal accounts were compromised. According to ZachXBT’s observations, after the meme creators drained all liquidity, their revenue amounted to just $8,000, resulting in significant losses:
Various business pages and personal accounts were compromised. According to ZachXBT’s observations, after the meme creators drained all liquidity, their revenue amounted to just $8,000, resulting in significant losses:
"They likely spent five to six figures on this method, so they lost money, lol. A serious contender for the title of the most incompetent hacker of the year."
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💵 BNB Chain has announced a gasless payment solution for stablecoins USDT, USDC, and FDUSD.
The development will be carried out in partnership with centralized exchanges. The initiative aims to simplify the use of stablecoins, allowing for faster integration into everyday life.
🔗 Bitget Wallet and SafePal have already integrated the gasless solution. The Binance Web3 wallet and Trust Wallet will follow suit soon.
The development will be carried out in partnership with centralized exchanges. The initiative aims to simplify the use of stablecoins, allowing for faster integration into everyday life.
🔗 Bitget Wallet and SafePal have already integrated the gasless solution. The Binance Web3 wallet and Trust Wallet will follow suit soon.
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⚠️The BingX exchange has been hacked, and withdrawals have been halted.
The loss amount is "small" and is still under analysis. Withdrawals will be restored within 24 hours. The exchange is working on a compensation plan. All losses will be covered by the company, and user assets will not be affected.
According to experts, the loss amount is around $27 million.
The loss amount is "small" and is still under analysis. Withdrawals will be restored within 24 hours. The exchange is working on a compensation plan. All losses will be covered by the company, and user assets will not be affected.
According to experts, the loss amount is around $27 million.
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🔝The NTX exchange offers a chance to win a ticket to the Formula 1 Singapore Grand Prix, a brand new iPhone 16, and various futures and spot coupons for crypto.
You need to have an account on NTX and complete simple quests on the platform's page.
You need to have an account on NTX and complete simple quests on the platform's page.
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💸 Kamala Harris' Forecast for the Crypto Market
According to The Block, Harris stated that as president, she would encourage innovative technologies such as artificial intelligence and digital assets, while simultaneously protecting our consumers and investors.
✔️ Additionally, this week Kamala Harris is set to announce new economic proposals aimed at wealth accumulation in the U.S., reports Reuters.
A good reason for local growth 🔼
According to The Block, Harris stated that as president, she would encourage innovative technologies such as artificial intelligence and digital assets, while simultaneously protecting our consumers and investors.
✔️ Additionally, this week Kamala Harris is set to announce new economic proposals aimed at wealth accumulation in the U.S., reports Reuters.
A good reason for local growth 🔼
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🔗 Debates on the Dissolution of the Solana Foundation Took Place in Singapore
At Solana Breakpoint, held in Singapore, Solana Foundation CEO Dan Albert and RockawayX CEO Viktor Fischer discussed whether the Solana Foundation should be dissolved.
✔️ Notably, Albert supported the initiative. He believes the ecosystem has matured, and the community is capable of handling many tasks independently. In his view, the Solana Foundation is becoming an inefficient structure.
Fischer, on the other hand, pointed out that if the delegation program is halted, 60% of validators will cease to be profitable. Moreover, the ecosystem still needs a structure to address governance or regulatory issues.
At Solana Breakpoint, held in Singapore, Solana Foundation CEO Dan Albert and RockawayX CEO Viktor Fischer discussed whether the Solana Foundation should be dissolved.
✔️ Notably, Albert supported the initiative. He believes the ecosystem has matured, and the community is capable of handling many tasks independently. In his view, the Solana Foundation is becoming an inefficient structure.
Fischer, on the other hand, pointed out that if the delegation program is halted, 60% of validators will cease to be profitable. Moreover, the ecosystem still needs a structure to address governance or regulatory issues.
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🥸 The Hamster Kombat team revealed new rules for the airdrop scheduled for September 26, causing frustration among active players.
On the first day, users will only be able to claim 88.75% of the allocated HMSTR tokens. The remaining tokens will be reserved for 10 months, approximately until July 2025.
In addition to the unexpected vesting, the developers prioritized referral leaders and large holders of in-game keys in the token distribution. Regular users, considering the pre-market price of HMSTR on OKX ($0.008), will receive between $10 and $60 for six months of daily engagement in the clicker game.
Moreover, only 43% of Hamster Kombat Telegram game users qualified for the airdrop, while 2.3 million were banned for fraud.
On the first day, users will only be able to claim 88.75% of the allocated HMSTR tokens. The remaining tokens will be reserved for 10 months, approximately until July 2025.
In addition to the unexpected vesting, the developers prioritized referral leaders and large holders of in-game keys in the token distribution. Regular users, considering the pre-market price of HMSTR on OKX ($0.008), will receive between $10 and $60 for six months of daily engagement in the clicker game.
Moreover, only 43% of Hamster Kombat Telegram game users qualified for the airdrop, while 2.3 million were banned for fraud.
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⚠️ Telegram will share the IP addresses and phone numbers of users who violate the platform's rules with authorities.
This was announced by Pavel Durov.
✔️ Telegram has also improved its search system using artificial intelligence. It is now "much safer," and all "problematic content" is no longer accessible.
This was announced by Pavel Durov.
✔️ Telegram has also improved its search system using artificial intelligence. It is now "much safer," and all "problematic content" is no longer accessible.
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