📣 Ethereum could face SEC scrutiny after The Merge.
Ethereum’s shift from proof of work to proof of stake may cause the Securities and Exchange Commission to take a closer look at regulating the cryptocurrency as a security, Chair Gary Gensler hinted on Thursday.
Gensler’s comments came hours after Ethereum’s big shift, known as The Merge, took place. The SEC chair mentioned the Howey test, a tool regulators use to determine whether an asset is a security, when he spoke with reporters after a Senate hearing.
“From the coin’s perspective…that’s another indicia that under the Howey test, the investing public is anticipating profits based on the efforts of others,” Gensler said, according to The Wall Street Journal. He noted he was not referring to a specific cryptocurrency.
Ethereum’s shift from proof of work to proof of stake may cause the Securities and Exchange Commission to take a closer look at regulating the cryptocurrency as a security, Chair Gary Gensler hinted on Thursday.
Gensler’s comments came hours after Ethereum’s big shift, known as The Merge, took place. The SEC chair mentioned the Howey test, a tool regulators use to determine whether an asset is a security, when he spoke with reporters after a Senate hearing.
“From the coin’s perspective…that’s another indicia that under the Howey test, the investing public is anticipating profits based on the efforts of others,” Gensler said, according to The Wall Street Journal. He noted he was not referring to a specific cryptocurrency.
Someone Paid $60K (36 ETH) in Fees to Mint the First NFT on Ethereum After The Merge
Someone paid a whopping 36 ETH to make history by minting the very first NFT on Ethereum after its transition to proof-of-stake. The Ethereum network went through its largest upgrade in history, transitioning to a Proof-of-Stake consensus algorithm. Immediately after that, users are finding clever ways to commemorate the event and to become part of history.
Minted at block height 15537394, the image itself represents a panda face and is called “The Transition.”.There’s a certain irony in the fact that someone paid so much to mint an NFT, but it’s also important to note that the Merge itself doesn’t do much to decrease gas fees on Ethereum’s network. The Merge has changed the overall consensus algorithm and doesn’t expand the network capacity – this is why it won’t significantly reduce the gas fees.
© Ethereum Merge ✔️
Someone paid a whopping 36 ETH to make history by minting the very first NFT on Ethereum after its transition to proof-of-stake. The Ethereum network went through its largest upgrade in history, transitioning to a Proof-of-Stake consensus algorithm. Immediately after that, users are finding clever ways to commemorate the event and to become part of history.
Minted at block height 15537394, the image itself represents a panda face and is called “The Transition.”.There’s a certain irony in the fact that someone paid so much to mint an NFT, but it’s also important to note that the Merge itself doesn’t do much to decrease gas fees on Ethereum’s network. The Merge has changed the overall consensus algorithm and doesn’t expand the network capacity – this is why it won’t significantly reduce the gas fees.
© Ethereum Merge ✔️
📈 Market Overview.
Bitcoin attempted to violate local lows on September 16 as the latest cross-crypto downtrend intensified. Bitcoin exchanges have seen huge volumes this month as price declines lead to renewed interest in trading. Data from Cryptorank.io showed BTC approaching $19,800 at the time of writing, with buyer support just avoiding a further drop.
The Top-10 cryptocurrencies are traded in different directions: XRPL +7.57%, Cardano +1.27%, Ethereum -2.85%.
Market capitalization: $1.01T (-0.25%)
The BTC dominance: 37.51% (+0.79%)
Fear & Greed Index: 22 (Extreme Fear)
ETH | BTC & ALTCOIN News
Bitcoin attempted to violate local lows on September 16 as the latest cross-crypto downtrend intensified. Bitcoin exchanges have seen huge volumes this month as price declines lead to renewed interest in trading. Data from Cryptorank.io showed BTC approaching $19,800 at the time of writing, with buyer support just avoiding a further drop.
The Top-10 cryptocurrencies are traded in different directions: XRPL +7.57%, Cardano +1.27%, Ethereum -2.85%.
Market capitalization: $1.01T (-0.25%)
The BTC dominance: 37.51% (+0.79%)
Fear & Greed Index: 22 (Extreme Fear)
ETH | BTC & ALTCOIN News
🟠 Binance accounting bug leads to $20m misallocation of $HNT tokens.
An accounting bug at Binance has led to a windfall in Helium Network’s native HNT token for some users and shouldered the world’s largest crypto exchange with a multimillion-dollar shortfall, according to people familiar with the matter.
Binance is down some 4.8 million HNT tokens that were erroneously disbursed to users, many of whom quickly sold the tokens for profit, the people said. At Friday’s prices those assets were worth about $19 million.
ETH | BTC & ALTCOIN News
An accounting bug at Binance has led to a windfall in Helium Network’s native HNT token for some users and shouldered the world’s largest crypto exchange with a multimillion-dollar shortfall, according to people familiar with the matter.
Binance is down some 4.8 million HNT tokens that were erroneously disbursed to users, many of whom quickly sold the tokens for profit, the people said. At Friday’s prices those assets were worth about $19 million.
ETH | BTC & ALTCOIN News
Bitcoin’s correlation with bonds and equities rises in September
Bitcoin’s correlation with both bonds and equities has resumed its increase in September after declining over the summer. Inflation uncertainty coupled with Fed tightening has resulted in a historical decline in both risk and fixed-income assets, challenging traditional asset allocation approaches. The iShares Aggregate Bonds ETF, which tracks the U.S. investment-grade bond market, declined by 12% YTD, the Nasdaq 100 lost 28% of its value while Bitcoin is down over 50%. Recent research shows that persistently high and more volatile core inflation could be among the explanations for the positive correlation between bonds and risk assets over the past months, as inflation negatively impacts all asset classes.
Bitcoin’s correlation with both bonds and equities has resumed its increase in September after declining over the summer. Inflation uncertainty coupled with Fed tightening has resulted in a historical decline in both risk and fixed-income assets, challenging traditional asset allocation approaches. The iShares Aggregate Bonds ETF, which tracks the U.S. investment-grade bond market, declined by 12% YTD, the Nasdaq 100 lost 28% of its value while Bitcoin is down over 50%. Recent research shows that persistently high and more volatile core inflation could be among the explanations for the positive correlation between bonds and risk assets over the past months, as inflation negatively impacts all asset classes.
In the last 24 hours, more than 88,000 traders have been liquidated, totaling more than $335 million🤯
BTC reached 18,126 at night and is now trading at 19,100. Overall, the market remains bearish. My guess is that we might see the bitcoin at 17,500 again, and maybe it will find the next support there. And what are you doing now? Buying? Or are you waiting below?
BTC reached 18,126 at night and is now trading at 19,100. Overall, the market remains bearish. My guess is that we might see the bitcoin at 17,500 again, and maybe it will find the next support there. And what are you doing now? Buying? Or are you waiting below?
📈 Market Overview.
After a significant drop on September 21 due to the Fed rate hike, Bitcoin (as well as a broader market) managed to recover and rise above $19,000. Bitcoin is currently trading around $19,291, which represents a +2.70% increase over the past 24 hours.
The Top-10 cryptocurrencies are traded in green zone: XRPL +28.9%, Dogecoin +6.6%, Cardano +5.6%.
Market capitalization: $999B (+3.7%)
The BTC dominance: 37.08% (-0.73%)
Fear & Greed Index: 20 (Extreme Fear)
After a significant drop on September 21 due to the Fed rate hike, Bitcoin (as well as a broader market) managed to recover and rise above $19,000. Bitcoin is currently trading around $19,291, which represents a +2.70% increase over the past 24 hours.
The Top-10 cryptocurrencies are traded in green zone: XRPL +28.9%, Dogecoin +6.6%, Cardano +5.6%.
Market capitalization: $999B (+3.7%)
The BTC dominance: 37.08% (-0.73%)
Fear & Greed Index: 20 (Extreme Fear)
📊 If you had $100.000 in the bank in 2015 here is how much you would have today:
USA 🇺🇸 $70.000
Turkey🇹🇷 $14.000
Lebanon 🇱🇧 $4000
Argentina 🇦🇷 $3000
Venezuela 🇻🇪 $0.2
USA 🇺🇸 $70.000
Turkey🇹🇷 $14.000
Lebanon 🇱🇧 $4000
Argentina 🇦🇷 $3000
Venezuela 🇻🇪 $0.2
CRYPTO VIP NEWS
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Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD
Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this year.
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Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD
Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this year.
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