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As per the documents posted on the SEC’s website on Thursday, August 31, the federal securities regulator differed on filing from all seven applications. SEC Chair Gary Gensler has consistently defended the rejection of ETF proposals as a measure to safeguard investors from potential fraud in an industry he perceives as being susceptible to such activities. In the documents published on Thursday, the US SEC said: advertisement “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein”. The ruling follows a significant triumph by Grayscale Investments against the SEC. Earlier this week, a federal appeals court overturned the rejection of Grayscale’s bid to transform GBTC into an ETF. The court deemed the denial “arbitrary and capricious” as the commission had not justified its distinct handling of comparab

Binance’s Head of Asia-Pacific, Leon Foong, has reportedly resigned from the crypto exchange. Foong led the crypto giant’s expansion in the Asia Pacific region, including Thailand and Japan. Binance previously lost top executives including its Chief Strategy Officer and General Counsel. The world’s largest crypto exchange has lost a fourth executive in less than two months. Leon Foong, Binance’s Head of Asia Pacific Market, has reportedly resigned from the crypto exchange amid mounting legal and regulatory trouble for the company. Foong’s departure comes just weeks after the crypto giant lost three other executives. Citing people familiar with the matter, Bloomberg reported earlier today that Leon Foong had resigned from Binance. The reason for his departure remains unclear as it is yet to be publicly announced by the crypto exchange. A spokesperson for Binance had no comment on the report, while Foong didn’t respond to Bloomberg’s request for comment. Fo

The crypto industry is taking off, quite literally. Non-fungible tokens, known as NFTs, continue to capture significant attention. Demonstrating this trend, the Lufthansa Group, the firm behind the global airline, has formally introduced a new loyalty program. This program stands out mainly because it is centered around NFTs. So, who is eligible for this program? Every airline, including Lufthansa, Austrian Airlines, and Swiss International Air Lines, among others, can take part in this program. They are actively involved in the Uptrip loyalty initiative. This means that passengers can gather digital trading cards as they travel with any of these airlines. Uptrip is part of the Lufthansa Innovation Group and was established on Polygon . The introductory phase of Uptrip involved a launch, during which it was put to the test by more than 20,000 participants. Throughout this period, these users managed to accumulate an aggregate of over 200,000 digital trading cards. Also Read

Federal Judge Lewis Kaplan has set a Sept. 7 deadline for former FTX CEO Sam Bankman-Fried to request a jury for his October trial . An Aug. 30 Tweet thread from Inner City Press, a public interest organization based in the South Bronx of New York City, revealed the new move. Federal Judge Lewis Kaplan has indicated that former FTX CEO Sam Bankman-Fried (SBF) has until Sept. 7 to request a jury trial. Judge Kaplan: The deadline for me to request a jury for an October 3 trial is September 7. So if you are going to move, do it by the end of this week. We already have a second trial date, March 11, held against the possibility the Bahamas grants consent. — Inner City Press (@innercitypress) August 30, 2023 This tight deadline drew concern from Bankman-Fried’s lawyers, who noted their client’s right to a discovery period before the trial scheduled for Oct. 3. The development came during a hearing focused on motions for Bankman-Fried’s temporary release to prepare for the trial .

The artificial intelligence research company OpenAI is nearing the $1 billion mark in revenue for the year. Moreover, the success has followed the meteoric rise of ChatGPT in the tech sector. Subsequently, the company lost $540 million in 2022, noting a massive shift in outlook.  ChatGPT had gained worldwide popularity at a record-setting pace, surpassing 100 million monthly users rapidly. Indeed, The Information reported that the company behind the generative AI chatbot is set to enjoy the fruits of that incredible ascension this year.  Source: Mint Also Read: Apple to Develop Its Own OpenAI ChatGPT Rival OpenAI Set to Surpass $1 Billion in Revenue After $540 Million Loss in 2022 This year will undoubtedly be defined by the massive impact that artificial intelligence has had. The idea has gained newfound popularity with some incredible integrations and technologies released this year. Yet none had the viral impact of ChatGPT , and no company has seen the success of its

Swiss crypto-focused SEBA Bank receives provisional approval in Hong Kong. The company said it will be able to launch its services once it meets certain standards. Hong Kong introduced a regulatory framework for crypto trading last June. Swiss crypto-focused SEBA Bank inches further to offering virtual asset services in Hong Kong after it received provisional approval from the region’s Securities and Futures Commission (SFC), according to a Reuters report. The company said the approval-in-principle will allow it to prepare for operations as soon as it is licensed.  SEBA Bank says with the license, it will be regulatory compliant and be able to offer its services to users in the region. In addition, the business stated that it will be able to trade securities, including crypto-related assets, and advise on and manage digital assets and traditional securities. Once it fulfills certain conditions given by Hong Kong’s SFC, SEBA Bank can fully launch its services.

GBTC shares trading at a lower implied value to BTC price may soon be a thing of the past, a new prediction says. Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC) could erase its BTC price “ discount ” in 2024. In an X post on Aug. 30, monitoring resource CoinGlass predicted that the so-called “GBTC premium” would soon return. GBTC price: From "elevator to hell" to "stairway to heaven?" Grayscale netting a court victory over United States regulators on Aug. 29 provided an instant remedy to what was flagging GBTC performance. The fund, which contains over 600,000 BTC, has traded at a discount to the Bitcoin spot price, also called net asset value (NAV), since February 2021. What was once the “GBTC premium” has thus been negative for over two-and-a-half years, but that could soon change. News that the U.S. Securities and Exchange Commission (SEC) must consider GBTC’s conversion to a Bitcoin spot price exchange-traded fund (ETF) on the same terms

Fintech firms Circle and Mercado Pago have announced a strategic alliance to introduce the USDC stablecoin to Chilean customers. A U.S. payment company, Circle and the biggest online payment platform in Latin America, Mercado Pago, announced a strategic collaboration to introduce the USDC stablecoin to customers in Chile on Aug. 29. This collaboration comes at a time when Chile, along with other countries in the region, is grappling with economic instability and heightened inflation rates. “Amidst the ongoing economic turbulence, the U.S. dollar stands as a beacon of financial stability,” stated Matías Spagui, senior director at Mercado Pago. The main goal of the partnership is to “diversify access to cryptocurrencies,” giving people a financial instrument to manage their wealth. 1/ Catch insights from @waichi3 & Spencer Spinnell (VP, Americas) as they detail the opportunities that #Web3 & digital dollars like $USDC bring to communities & #devs based in Latin America.

Notable economist Peter Schiff has warned of a US financial crisis that could occur amid the Federal Reserve’s inflation fight. Specifically, Schiff stated that a “full-blown” crisis would occur before the FED was able to reach its inflation target. Subsequently, responding to a recent speech given by Fed Chair, Jerome Powell. Powell noted that the Fed was fully prepared to resume the interest rate hikes it paused just a month ago Moreover, Powell made note of the agency’s commitment to reaching its inflation target. Conversely, Schiff has stated his belief that the target must change. During his Jackson Hole speech, #Powell admitted that the #Fed still has a long way to go to achieve its 2% #inflation target. That's a gross understatement, as a full-blown financial crisis will ensue long before the target is hit, forcing the Fed to raise the target above 2%. — Peter Schiff (@PeterSchiff) August 25, 2023 Also Read: What is Peter Schiff’s Net Worth? Schiff Warns of Fi

Source: AdobeStock / LIGHTFIELD STUDIOS   Major non-fungible token (NFT) marketplace OpenSea has seen a steep drop in the daily sales volume , which recently plunged to below USD 1m. The drop comes as the broader NFT market has been spiraling downward and the prices of popular NFT projects have been plummeting. OpenSea's daily trading volume drop ped to around USD 837,000 on June 25, plunging to below USD 1m in more than a year, according to NFT data provider DappRadar . In comparison, the marketplace had notched more than USD 405.7m in sales at its peak in early May 2021. Moreover, the platform's sales volume has dropped by 72% over the past month alone, reaching USD 260m. In comparison, the marketplace generated USD 4.86bn in total trading volume in January this year, data collected by Dune Analytics shows. Similarly, the number of unique wallets interacting with OpenSea as well as its number of transactions have plunged to the lowest levels in more than

German fashion giant, Hugo Boss, is the latest brand to come on board the NFT (non-fungible token) and metaverse bandwagon. HUGO, the youth arm of the company, is partnering with Imaginary Ones to create not just its first NFT collection, but also a 360-degree metaverse experience. The partnership is an attempt by the company to refresh its brand in 2022. JUST IN: Fashion brand Hugo Boss announces plans to launch its first-ever #NFT collection. — Watcher.Guru (@WatcherGuru) October 4, 2022 The collection is expected to drop in November of this year and it will include 1001 3D animations. The collection is titled &ldquo ;Embrace Your Emotions” (EYE).  Neither party has clarified what a “360-degree metaverse experience” will involve. However, it may be speculated that the experience may include augmented reality capabilities. Customers who buy a limited edition “ phygital&rdquo ; t-shirt will be placed on a list with 500 slots. Each t-shirt will have a QR code, when

The Securities and Exchange Commission has charged Los Angeles-based entertainment company Impact Theory. The charges are on the grounds of conducting an illegal securities offering of non-fungible tokens that raised approximately $30 million. According to the SEC, Impact Theory sold three tiers of NFTs called “Founder’s Keys” to the public from October to December 2021, leading buyers to view the NFTs as an investment in Impact Theory ’s business success. However, the company failed to register the NFTs as sec urities or file the required disclosures as part of the sale. Also read: Hong Kong Launches First Crypto Trading Platform, HashKey SEC ordered Impact Theory to pay $6 million The SEC ordered Impact Theory to pay over $6 million in penalties and ill-gotten gains disgorgement for the unregistered securities sale. The company will also set up a fund to return money to the founder’s key buyers. This marks the SEC’s first enforcement action involving NFTs, which t

As the music industry continues to push into the Web3 space getting artists both mainstream and up-and-coming has its hurdles but also major rewards. Musicians and executives alike have seen the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into active communities with fewer barriers between artists and fans. Recently, the crypto-savvy Snoop Dogg partnered with country music stars Billy Ray Cyrus and the Avila Brothers to create an NFT experience that crossed genres and created new communities in the process. While Snoop may be a veteran in the space, many musicians find the Web3 world a whole new frontier. Cointelegraph spoke with Bernard Alexander, the head of IP at the company Animal Concerts, which facilitated the aforementioned NFT collection, to better understand what it takes to bring artists into Web3. Alexander affirmed that onboarding someone like Snoop is very different from “artists who don’t typically keep up with the Web3 ecosystem.” It als

Blur, the digital art startup that markets itself as the NFT marketplace for pro traders, has managed to post some impressive numbers in the trading volume field. The platform has dethroned industry leader Opensea in terms of daily trading volume and has held the top spot for more than a month now. According to data compiled by on-chain analytics firm Nansen, Blur’s daily trading volume peaked at a whopping $117.7 million on February 22. OpenSea’s volume came in at a little more than $13 million at the time, meaning that Blur’s volume was about nine times that of Opensea. Daily Trading Volume Source: Nansen Twitter Nansen compared the top ten most traded NFT collections of all-time on Blur and OpenSea. Mutant Ape Yacht Club was the most traded NFT collection on Blur, with a trading volume of 230,226 ETH. As for OpenSea, Yuga Labs’ flagship NFT line, the Bored Ape Yacht Club, was the most traded collection with a volume of 697,154 ETH. The trading volume data conclude

With strong buying pressure and positive market sentiment, SUI has the potential to continue its upward trend and attract more investors. However, a retracement from the current high could see SUI finding support at the $0.5900 level before attempting another rally.  advertisement SUI/USD 1-day price chart (source: CoinMarketCap) At press time, SUI was priced at $0.5837, a 7.88% surge from the intraday low. Consequently, the SUI market capitalization and 24-hour trading volume surged by 7.82% and 18.75% to $422,139,298 and $209,373,794, respectively. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 2023 Must Read Top Cryp

The former U.S. President returned to X for the first time since January 2021 to post his mugshot, which has now been thoroughly manipulated for memes by many users. The price of nonfungible tokens (NFTs) featuring Donald Trump surged after news outlets released a photo of the former United States President as part of his criminal case in the state of Georgia for allegedly attempting to subvert the will of voters in the 2020 election. According to data from NFT marketplace OpenSea, the floor price of Trump’s line of digital trading cards first released in December 2022 increased more than 62% from 0.138 to 0.224 Ether (ETH) on Aug. 24 shortly after the former president’s mugshot became public. The image, which shows Trump looking angrily at the camera amid his surrender at the Georgia Sheriff's Office in Fulton County, has gone viral as the first mugshot of a current or former U.S. President facing criminal cases. Trump, who has largely restricted his social media activity to

Down 2.3% on Friday, XRP is trading at $0.515 with $789 million in trading volume coming in. Providing immediate support to the cross-border money remittance token is a multi-month ascending trendline, dating back to the beginning of the year. advertisement Bulls have every reason to hold this support intact, considering XRP is trading below all the major moving averages, including the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and most importantly the 200-day EMA (purple) at $0.5253. XRP On The Edge of Another Downfall XRP is back to trading levels last seen before the July ruling in the Ripple vs. SEC case. After the court ruled that secondary sales of XRP tokens on exchanges like Binance imply that it is not a security contrary to sales made directly to institutions. While this rule was a win for XRP, the remarkable rally that followed the ruling quickly faded before reaching $1. XRP achieved a new 2023 milestone at $0.93 in July a