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Uniswap Labs, developer of the most popular decentralized cryptocurrency exchange, today announced the launch of Unichain, a unique application-specific layer 2 blockchain network. The company said the new blockchain network aims to help build scaling solutions for Ethereum, a popular blockchain for decentralized finance (DeFi), and help reduce transaction times and fees. This joins a myriad of L2 solutions built to improve the speed and affordability of Ethereum, where transactions are often congested. CEO Hayden Adams said: “Unichain will not only deliver the speed and cost savings already achieved with L2, but also better access to liquidity across the chain…
Important points Bitcoin price fell below $59,000 after the Federal Reserve signaled that it would pause interest rate cuts. US inflation rose slightly more than expected in September. Share this article Bitcoin prices fell below $59,000 on Thursday, down 4% in the past 24 hours, following remarks by Atlanta Fed President Rafael Bostic that suggested a pause in interest rate cuts in November.Bitcoin price chart (CoinGecko)Atlanta Fed President Rafael Bostic said the central bank could hold off on cutting interest rates next month, depending on how economic data develops. “If the data suggests that it’s appropriate to miss a meeting,…
The SEC is once again setting its sights on the cryptocurrency market. Crypto.com received a Wells Notice from U.S. regulators and subsequently fought back with a lawsuit to protect itself. The SEC plans to charge digital asset exchanges with operating as unregistered broker-dealers and securities clearinghouses.“The SEC’s unauthorized overreach and illegal rulemaking regarding cryptocurrencies must end,” Crypto.com CEO Chris Marszalek said on Twitter.The SEC also charged Cumberland DRW with operating as an unregistered dealer in more than $2 billion in crypto assets.Bitcoin today topped $60,000 for the first time since September 18, when it rose along with other assets in…
The FBI created a virtual currency as part of an investigation into price manipulation in the virtual currency market, the government said Wednesday. The FBI’s Ethereum-based token, NexFundAI, was created with the help of “cooperating witnesses.”As a result of the investigation, the Securities and Exchange Commission indicted three “market makers” and nine individuals for their alleged involvement in a scheme to inflate the prices of certain crypto assets. The Department of Justice has indicted 18 people and entities for “widespread fraud and manipulation” in the cryptocurrency market.Prosecutors allege that the defendants made false claims about the tokens and conducted so-called…
Argentina has surpassed Brazil in crypto inflows to Latin America, highlighting the growth of the crypto market. Stablecoins play an important role in protecting Argentina’s citizens amid high inflation and currency devaluation. Centralized exchanges, led by institutional and professional investors, dominate crypto activity in Latin America. Argentina has surpassed Brazil in terms of estimated cryptocurrency inflows, making it the top country in Latin America. According to Chainalysis, the region received nearly $415 billion in digital currency from July 2023 to June 2024, just over East Asia. Cryptocurrency inflows to Argentina during this period were valued at an estimated $91.1 billion,…
Getty Images; Alyssa Powell/BIAfter receiving information from the SEC, federal prosecutors set up a fake company to expose crypto market manipulators.Both companies have been charged with “wash trading,” which involves artificially increasing trading volume to inflate token prices.According to prosecutors, this case is the first indictment against a cryptocurrency company.Federal prosecutors are getting creative in their efforts to catch bad actors in the cryptocurrency market.Following a tip from the Securities and Exchange Commission, federal prosecutors set up a fake cryptocurrency company to investigate a Boston-based company.The ensuing sting operation resulted in the destruction of four companies, the seizure of more…
Important points U.S. stocks fell midday after a better-than-expected report on consumer inflation. The solar power company’s stock price fell after Jefferies lowered its target price for First Solar. CVS Health was upgraded by Barclays and its stock price rose. U.S. stocks fell midday after a report on consumer prices showed higher-than-expected inflation, sending the S&P 500 index down from a record high. The Dow Jones Industrial Average and Nasdaq also fell. Pfizer (PFE) stock fell after two former executives released statements supporting current management in its battle with activist investor Starboard Value. Starboard accused people at the company of…
Super Micro Computer (SMCI) stock fell 2.5% on Thursday after rising as much as 9% the previous day, as investors wavered between optimism over the company’s strong financials and caution over regulatory risks. It’s been a roller coaster of a week.Supermicro is reportedly under investigation by the Justice Department for alleged shady business practices outlined in a scathing report released in late August by short-seller Hindenburg Research. This weighed on the stock price, which has remained below $50 per share ever since.This week, SMCI rose on positive reports from AI server makers. Supermicro soared 16% on Monday after the company…
Ripple is expanding its digital asset storage and strengthening its presence in the growing custody market. Blockchain payments company Ripple has launched a digital asset storage service for banks and fintech companies, offering services that go beyond payment solutions. In its pitch, the company introduced new features to its Ripple Custody brand that offer digital asset storage and management to institutional clients, CNBC reported on October 10. Ripple expands cryptocurrency custody services Ripple’s new service uses the XRP Ledger blockchain platform with preconfigured operational settings, anti-money laundering risk monitoring, and a more simplified user interface. This is an effort to…
BlockDAG’s pre-sale has exceeded $92 million and could exceed $100 million at any time. What does the future hold for SHIB and XRP?Bitcoin once changed the game by introducing the wonder of cryptocurrencies, and now BlockDAG is defining the future of cryptocurrencies with its innovative blockchain and directed acyclic graph (DAG) models. Masu.This novel approach has garnered solid support from whales, and the numbers clearly tell a success story. BlockDAG’s pre-order sales have skyrocketed to over $92 million and could reach $100 million at any moment. Experts are currently eyeing the coin’s price to rise from the current $0.0206 to…