Macroeconomic Factors that Impact the Crypto Market - cyptoranking.com

2024-05-02

Popular crypto exchanges(2023 Update) 2024-05-02
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Andreessen Horowitz general partner Arianna Simpson sees Bastion as a potential solution to the as of yet unsolved problems of market fragmentation and accessibility. “There’s certainly a very strong need for better user experiences touching anything online. Tokens, NFTs. It’s just not easy.” Now, the interesting thing is you can have approval and disapproval, that can happen on the same day for everyone. But if it is approval, then the interesting thing becomes, well, is everyone going to be ready? On the very next day? And I think that is not necessarily a given. The degree of operational preparedness that each individual issuer is at may very well vary. This is novel. It's not been done before in the U.S. Macroeconomic Factors that Impact the Crypto MarketThe growth of token bound accounts on Polygon in recent months CEO Jason Les revealed that this contract had contributed significantly to the firm's revenue, bringing in $11.0 million in Power Credits and $2.5 million in Demand Response Credits. Notably, Riot Platforms' power curtailment credits exceeded the net proceeds from Bitcoin sales in August and September.

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Source: Stoner Cats / TwitterThe company behind Stoner Cats non-fungible tokens (NFTs) has to pay a $1 million fine and destroy all its NFTs per a settlement with the US Securities and Exchange Commission (SEC).According to the Wednesday press release, the SEC charged Stoner Cats 2 LLC (SC2) with conducting an unregistered offering of cryptoasset securities in the form of NFTs that raised approximately $8 million from investors to finance an animated web series called 'Stoner Cats'.Stoner Cats NFTs launched in 2021 ahead of the same-named series featuring sentient cats of one Ms. Stoner, created by actress Mila Kunis. As reported, Ethereum co-founder Vitalik Buterin was set to be a part of the project, as well as Jane Fonda, Seth McFarlane, Ashton Kutcher, and Chris Rock.However, per the US regulator's announcement,"Without admitting or denying the SEC’s findings, SC2 agreed to a cease-and-desist order and to pay a civil penalty of $1 million. [...] SC2 also agreed to destroy all NFTs in its possession or control and publish notice of the order on its website and social media channels."The project announced the order.Additionally, the order established a "Fair Fund" to return the money investors used to buy these NFTs. Prior to the series release, in July 2021, there was an NFT sale of 10,420 stoner cats for some $800 each, which sold out in 35 minutes.The SEC argued that the company's marketing team - before and after the public sale - promoted the benefits of owning the tokens, including the option to resell them on the secondary market. The SC2 team also emphasized its expertise as Hollywood producers, the participation of celebrities, and its own knowledge of crypto projects, thus leading investors to "expect profits" via a successful web series that could increase the NFTs' resale value.The order further stated that,"SC2 configured the Stoner Cats NFTs to provide SC2 a 2.5 percent royalty for each secondary market transaction in the NFTs and it encouraged individuals to buy and sell the NFTs, leading purchasers to spend more than $20 million in at least 10,000 transactions."Per Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, be it beavers, chinchillas, or any other animal-based NFT, "the economic reality of the offering" defines a security, "not the labels you put on it."Carolyn Welshhans, Associate Director of the SEC’s Home Office, was quoted as saying that Stoner Cats wanted the benefits of selling a security to the public, while ignoring the legal responsibilities that come with it.____Learn more:- Vitalik Buterin Makes Curious Cameo in Kutcher and Kunis’ ‘Krypto’ Video- Ashton Kutcher Invested in Bitcoin Despite Wife’s Advice- SEC Chair Gensler: Crypto Industry Plagued by Misconduct and Legal Challenges- Ripple CEO Advises Crypto Startups to Avoid US, Suggests Jurisdictions with Smart PoliciesItalian Luxury Brand Panerai to Include NFT-Based "Digital Passport" with All Watches Moreover, the launch of futures-based exchange-traded funds (ETFs) for Ethereum on the Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) on October 2 proved underwhelming. As with less than $10 million in combined assets under management during the first week of trading. Who owns MetaMask?Trader Joe is one of the most popular decentralized exchanges, originally starting on the Avalanche network before expanding to BNB Chain, Arbitrum and Ethereum. In comparison, Polygon and Solana saw $30.9 million and $27.9 million each, marking declines of 45.50% and 16.77% respectively.

Despite this week’s sales being 11.65% lower than the previous week, there’s a silver lining: the count of NFT purchasers surged by 17.77%, while the tally of sellers jumped by 15.82%. Data sourced from cryptoslam.io reveals that NFT sales on the Ethereum platform took the lion’s share, accounting for $38.10 million of the week’s turnover. Sam Bankman-Fried just like Bernie Madoff, Cardano founder says What Is the Next Big Cryptocurrency To Explode in 2023?Ben Samocha, the CEO of CryptoJungle, an Israeli crypto educational resource, was on his way Tuesday to the funeral of one of his students, who had been killed, among 260 other young folks, in an attack by Hamas terrorists at a music festival near the Gaza border on Saturday. For instance, if your trading position is closed, unrealized PnL switches to realized PnL, and vice versa. The latter is so because of an open trading position’s ongoing market changes.

Bored Ape Yacht Club Reveals BAPE Streetwear Collab Bitcoin Is a Good Bet During Israel-Gaza War How can I buy Indian digital currency?Source: TwitterBitcoin-bullish presidential candidate Robert F. Kennedy Jr. has announced that he is now chasing his country’s highest office as an independent, rather than as a member of the Democratic party.“I’m here to declare myself an independent candidate for the President of the United States,” said Kennedy at a Philadelphia rally on Monday. “We declare independence from the two political parties and the corrupt interests that dominate them and the entire rigged system.”As of last month, Kennedy polled second place in the Democratic party primary but was still dominated by the incumbent president Joe Biden’s whopping 71% support.Compared to other Democratic candidates, Kennedy frequently drew controversy for holding positions atypical for a left-winger, including his well-known skepticism of vaccines, but also his lesser-known favorable views on crypto – particularly Bitcoin.At the Bitcoin Miami in May, Kennedy recognized that Bitcoin miners “may not be so bad for the environment,” contrasting with the current administration’s stronger concern for the “harms they impose on society.” At the time, Kennedy announced that his campaign would be the first to accept Bitcoin donations over the lightning network.The politician has also purchased several BTC for his children, and promised to exempt Bitcoin investors from capital gains taxes in a bit to boost national adoption of the digital currency. He’s even proposed backing the U.S. dollar with Bitcoin, alongside a handful of other “hard currencies” like gold and silver.Presidential Candidates On CryptoKennedy’s crypto positions may be more comparable to Republican rivals like Ron DeSantis, who have promised to end President Biden’s “war on Bitcoin.” Both candidates have also shown strong opposition to central bank digital currencies (CBDCs), deeming them tools of surveillance and financial control.Nevertheless, such crypto proponents face bleak odds in the Republican camp as well, with ex-President Donald Trump leading polls with 60% of the primary vote. Though Trump has previously denounced Bitcoin as a scam and claimed it could threaten the supremacy of the U.S. dollar, filings in August revealed that Trump owned $2.8 million in crypto.After teasing his break from Democrats for several days, Super PAC American Values 2024 shared poll results last week showing that Kennedy would be more popular than any independent candidate in modern political history, boasting support from 19% of the electorate. Cardano’s Hoskinson Likens Sam Bankman-Fried to Bernie Madoff Last month, as reported by U.Today, Ripple also moved tens of millions of XRP to Bitstamp, and once, Whale Alert also detected a transaction made to the Bitso exchange. Overall, Ripple has transferred 119,000,000 XRP worth $59,199,878.

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