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NFT
Congress Cat
Floor Price
0.01 ETH
Total Volume
147.99 ETH
Minted on 09 Sep 2021
Revolver Ocelot
Revolver Ocelot
Tether’s Rivals Smell Blood, Pushing Congress for a Crackdown in the Wild West of Stablecoins
7 days ago
KRIPTOVEER
KRIPTOVEER
followers

JUST IN: 🇺🇸 US Congressman Matt Gaetz says there needs to be a vote on legislation banning Congress from trading stocks. JUST IN: 🇬🇧 UK to release new crypto and stablecoin legislation within the next 6 months. JUST IN: Capital One to acquire Discover for $35.3 billion, CNBC reports. Rich dad poor dad author Robert Kiyosaki predicts that Bitcoin will hit $100k by June 2024. 🚨BREAKING: WORLD BANK ANNOUNCES #XRP AS THE FIRST-EVER CROSS-BORDER PAYMENT SYSTEM EXPECTED TO BEGIN USE GLOBALLY #BTC #Write2Earn #TrendingTopic #ETH #etf

6 days ago
CryptoNewsLand
CryptoNewsLand
followers

Former Ripple director predicts a genuine XRP ETF in 2024 or 2025, alongside a Ripple IPO outside the US in 2025. Ripple CEO Brad Garlinghouse acknowledges the possibility of an XRP ETF, without specifying a timeline or potential issuer. Ripple temporarily postpones its IPO plans, prioritizing compliance and regulatory engagement. The XRP community is abuzz with anticipation as former Ripple director Sean McBride recently shared his optimistic outlook, forecasting the launch of a genuine XRP exchange-traded fund (ETF) in either 2024 or 2025, in addition to hinting at a Ripple initial public offering (IPO) outside the United States in 2025.  This coincides with the rising enthusiasm surrounding cryptocurrency ETFs, especially following the recent green light given to spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse contributes to the discussion by recognizing the possibility of an XRP ETF, although he abstains from delineating the exact timing or potential issuer. The excitement could bolster investor confidence, driving up demand and pushing XRP’s price higher, possibly drawing speculative traders. Given these forecasts, monitoring XRP’s current market performance becomes crucial. Despite recent fluctuations, including a decrease in value over the last 24 hours, XRP continues to maintain a significant market capitalization. While indicators suggest a bullish trend with the upward slope of the 50-day moving average, caution is advised due to the downward trajectory of the 200-day moving average since mid-February 2024, signaling a potentially weak market trend. Meanwhile, Ripple’s stance amidst legal battles with the SEC remains proactive. Ripple’s commitment to compliance and regulatory engagement is evident, as the company prioritizes these aspects over immediate IPO plans. Garlinghouse expresses satisfaction with recent legal victories and remains optimistic about potential resolutions, either through the SEC acknowledging its defeats or legislative intervention by Congress. Read also: Crypto Experts Expect Biggest IPO Ever if Ripple IPO Comes Through Ripple’s Potential 2024 IPO and Its Impact on Crypto Market Ripple NYC Party Sparks Buzz: IPO, SEC Settlement, and More on the Horizon? How the Much-Talked Ripple IPO Might Unleash XRP’s 20X Explosion Ripple’s Advantage in the IPO Race: Leveraging Nearly 50 Billion XRP for Market Supremacy The post XRP Community Buzz with Predictions of XRP ETF and Ripple IPO appeared first on Crypto News Land.

4 days ago
Cointelegraph
Cointelegraph
followers

Stablecoin issuer Tether didn’t provide a definitive answer on whether or not it would cease support for the Tron network after its rival Circle ceased minting its stablecoin on the blockchain on Tuesday. “Tether tokens are issued on several blockchains, which are simply transport layers for such tokens,” Tether said in a statement to Cointelegraph when asked for comment about Circle and whether Tether was considering a similar move. “Tether retains the ability to freeze transactions on each directly supported transport layer to accomplish its compliance duties. Nevertheless Tether actively monitors the safety of each one of the supported transport layers to ensure the highest standards to our community,” the firm said. Tether (USDT) is the largest stablecoin with a market capitalization of $97.7 billion, and Circle’s USD Coin (USDC) trails at $28 billion, according to CoinGecko data. The Tron network is home to over 51.8 billion USDT — over half of the nearly 101 billion USDT tokens issued across multiple blockchains, according to Tether’s transparency report dated Feb. 21. An additional nearly $76.2 million is set aside to provide near-term liquidity for the token on the Tron network. A screenshot of Tether’s USDT transparency report cropped to show only USDT’s top three blockchains and its total assets. Source: Tether Tether's comments came in response to an announcement from Circle on Feb. 20, with the firm revealing it was immediately ending the minting of USDC on Tron and would gradually phase out support for the network, saying the decision aligns with “efforts to ensure that USDC remains trusted, transparent and safe.” Last month, a United Nations report said “USDT on the Tron blockchain has become a preferred choice” for cyber fraud and money launders in Southeast Asia due to the “ease, anonymity, and low fees of its transactions.” Tether rebuffed the report, saying the UN ignored USDT’s traceability and the firm’s record of law enforcement collaboration. It highlighted that it froze over $300 million worth of USDT used in crime “within the last few months,” including $225 million worth frozen in November 2023 as part of a United States probe into a Southeast Asian human trafficking syndicate. Related: Y Combinator calls on startups to build stablecoin, metaverse, AI solutions Ethics watchdog group Campaign for Accountability wrote to the United States Congress in November alleging Tron “has been named in multiple international law enforcement actions involving billions of dollars in transactions by alleged organized crime groups and sanctioned entities.” The U.S. Securities and Exchange Commission sued the Tron Foundation and founder Justin Sun in March 2023, alleging they offered unregistered securities and conducted manipulative trading, which Sun denies. Magazine: Unstablecoins: Depegging, bank runs and other risks loom

4 days ago
Kri
Kri
followers

Circle announced the removal of native USDC on the Tron Network (TRX) as part of its “risk management framework.” This raised concerns about Tron’s future in the market, which could impact TRX’s price performance. Notably, the company published the announcement on February 21, mentioning compliance as one of the three reasons for the decision. It happened less than a week after Circle’s Senior Director, Caroline Hill, spoke in Congress about Tether (USDT). “Our decision to discontinue support for USDC on TRON is the result of an enterprise-wide approach that involved the business organization, compliance, and other functions across our company. This action aligns with our efforts to ensure that USDC remains trusted, transparent, and safe – characteristics that make it the leading regulated digital dollar on the internet.”– Circle Therefore, Circle will effective immediately halt USDC minting on Tron. However, it will allow its customers to migrate Tron-based USDC to other supported blockchains until February 2025. On that note, Circle only directly serves businesses and institutional customers. Retail can use the cryptocurrency ecosystem to transfer or exchange tokens currently running on Tron. Tron (TRX) price analysis after losing USDC This decision can prove itself to be a tough hit against Justin Sun’s blockchain enterprise, Tron. In particular, Circle sends a strong message to the market about their trust in the Tron Network, a stablecoins’ paradise. Losing the second-largest stablecoin by market cap and volume could affect the demand for TRX, Tron’s DeFi ecosystem health, or influence the support of other institutions. Meanwhile, Tron’s native token is trading at $0.139 by press time, in an impressive bull rally year-to-date (YTD). On the other hand, such a performance has made TRX reach an overbought status in its daily Relative Strength Index. Tron price forecast sets a likely scenario of a price correction, fueled by recent news related to Circle’s decision to abandon Tron. In this context, TRX price may test the $0.10 psychological support as investors start migrating USDC from the network. Nevertheless, cryptocurrencies are unpredictable assets, and Tron price could find higher support if its ecosystem manages to find relevant demand on other fronts. Investors must be cautious in the following days and expect volatility. In closing, it is worth mentioning Circle declared an intention to offer native USDC services on new promising blockchains. Curiously, Radix Works recently added Lindsey Lim to its board of directors. Lim is a former senior director at Circle, which has sparked rumors about a future USDC implementation on Radix (XRD). #Write2Earn #TRX $TRX

4 days ago
Cryptopolitan
Cryptopolitan
followers

Over the past year, there have been like a thousand headlines about BRICS coming for the dollar, and dethroning it. Under the guidance of China’s Xi Jinping and Russia’s Vladimir Putin, BRICS has taken a lot of direct jabs at the United States government. We all know the part the country plays in our global economy and trade. But the BRICS truly believe that they don’t it, nor do they need the dollar. And so they have been actively doing everything they can to ditch America for good. So far, there haven’t been any real response from the American government. But that might just be because Joe Biden is demented and probably has no idea what’s even going on. The Congress, of course, have said they are not worried about BRICS or their little plans. However, here comes the Federal Reserve. Apparently, it has plans for BRICS. Whatever might they be? The Federal Reserve’s Perspective on BRICS To be perfectly clear, BRICS’ approach doesn’t just aim at kicking USD to the curb. The bloc is getting ready to launch its very own new currency whilst also promoting the use of their own national currencies for cross-border transactions. As China persuades developing nations to conduct trade in the Yuan and Russia encourages settlements in the Ruble, India has also entered agreements with 20 developing countries to facilitate trade payments in the Rupee. However, Christopher Waller, a distinguished member of the Federal Reserve Board of Governors, has boldly asserted that the US dollar is far from losing its status as the primary reserve currency globally. Despite the growing discourse on the potential decline of the dollar due to BRICS’ maneuvers, he said he is confident in the dollar’s enduring dominance in trade and finance. According to Waller, the dollar’s share of global reserves stood impressively at 60% in 2022, dwarfing the Euro’s 20% share, its biggest competitor. A New World Order or a Risky Gambit? Meanwhile, amidst discussions about the potential for a new global financial order led by developing nations, a group of scammers introduced a deceptive venture under the guise of a groundbreaking opportunity. They announced an Initial Coin Offering (ICO) for a cryptocurrency, deceitfully branded as the BRICS cryptocurrency. This move capitalized on the anticipation surrounding the BRICS alliance and its perceived challenge to the current global financial system. The scheme was propagated through various social media channels, notably Telegram, where the fraudsters actively engaged with potential investors. They targeted individuals from developing countries, luring them with the prospect of being part of a significant shift in the global economic landscape. The scammers promised lucrative returns, alongside enticing offers such as airdrops of XLM tokens and substantial cashbacks, to seduce people into investing in their counterfeit cryptocurrency. Many people were encouraged to invest in the ICO by the prospect of financial advantages and the opportunity to be a part of a new, more fair financial age. However, the reality soon came crashing down. The so-called BRICS cryptocurrency turned out to be nothing more than a facade. Once the scammers had stolen a huge amount of money from unsuspecting investors, they abruptly ceased all communications. They deleted their Telegram channel and other social media accounts, effectively disappearing without a trace.

4 days ago
Kri
Kri
followers

Representatives of Coinbase and Circle spoke at a United States Congressional hearing on February 15 and referenced concerns on Tether. First, Caroline Hill, Circle’s Senior Director of Global Policy and Regulatory Strategy, directly cited Tether, mentioning terrorism financing activities. Notably, Carolie Hill formerly worked for the U.S. Treasury Department as a Director of Terrorist Financing and Financial Crimes (TFFC) before joining Circle. In a video posted by Pledditor on X, Hill asks the Treasury Department to “use its authority” against companies with “U.S. touch points.” “I personally believe no company should be allowed to reference the U.S. Dollar without having those democratic values inside the company and inside their U.S. Dollar backed stablecoin. (…) I hope they [Treasury] are looking at this seriously given Tether’s reputation as well as the data we have seen that they are contributing to terrorist financing and other activities.”– Caroline Hill Coinbase accuses offshore entities of playing ‘jurisdictional wack-a-mole’ Moreover, Grant Rabenn, Coinbase’s Director of Financial Crimes Legal, celebrated the exchange’s compliance with OFAC due to “proactive investigations.” Rabenn then mentioned how Coinbase’s competitors are a safe haven for “criminals who seek offshore platforms.” “Those offshore entities often play jurisdictional wack-a-mole, attempting to avoid though anti-money laundering rules and expecting their regulators won’t care.”– Grant Rabenn Interestingly, Coinbase is a shareholder of Circle and an active partner in USDC management. This stablecoin is the second-largest in the cryptocurrency market and a direct competitor to Tether’s USDT. In this context, Rho Rider commented on X that this might be the first time these companies directly named Tether publicly. Tether responds to Circle’s and Coinbase’s accusations Following the Congressional hearing, CoinMarketCal reported a provocative comment from Paolo Ardoino, Tether’s CEO, on February 16. “Misleading Congress is a shocking act of desperation, and those who do so should be ashamed of themselves. Spouting lies and running in Circles never gets you anywhere.”– Paolo Ardoino According to CoinMarketCal: “Ardoino continued that his company has done more than anyone else to combat illicit crypto activities and remains fully committed to continuing the fight.” With these last events, the market awaits further rivalry between the leading stablecoins issuers and their partner exchanges. Now, possibly with a might ally on Circle’s and Coinbase’s side – the U.S. Treasury Department. #Write2Earn

8 days ago
TokenInsight 中文
TokenInsight 中文
followers

According to The Defiant, the stablecoin war has spread to Washington, DC. Representatives from Circle and Coinbase testified before Congress last week, asking lawmakers to give the U.S. Treasury Department more powers to crack down on Tether and its U.S.-based banking partner, Cantor Fitzgerald. Carolyn Hill, director of global policy and regulatory strategy at Circle, the company that issues the USDC stablecoin, said: “I personally believe that no company should be allowed to operate without incorporating democratic values ​​into its USD-backed stablecoin. Quote dollars.” Hill’s words echo those of Coinbase’s financial crime legal director Grant Labone, who claimed “criminals seek out offshore platforms that don’t offer the robust compliance offered by companies like Circle.” Tether dominates the stablecoin space with its USDT stablecoin. Labone and Hill have urged Congress to take action and give the U.S. Treasury Department more power to investigate and crack down on their top rival — accusing Tether of supporting money laundering and terrorist financing.

7 days ago
MarsNext
MarsNext
followers

👉👉👉 #tether CEO implies Circle director misled Congress in 'desperation' attack on #USDT #stablecoin issuer Tether has emphasized its proactive measures in preventing the misuse of stablecoin technology by collaborating closely with global law enforcement agencies, according to a statement provided to CryptoSlate on Feb. 16. The statement comes in response to comments made by Caroline Hill, Senior Director of Global Policy and Regulatory Strategy at Circle, during a House Financial Services Committee hearing titled ‘Crypto Crime in Context Part II: Examining Approaches to Combat Illicit Activity.’ Hill urged authorities to scrutinize Tether's alleged involvement in terror financing. Responding to inquiries regarding Tether during the hearing, Hill appeared to directly address the stablecoin competitor, highlighting concerns over its role. In reaction, Tether's representatives reiterated their commitment to combating illicit crypto activities, emphasizing their extensive efforts in this regard. #JPMorgan analysts have suggested that American regulatory bodies, notably the Office of Foreign Assets Control (OFAC), wield significant influence over Tether's offshore utilization. They pointed to OFAC's sanction on Tornado Cash, a crypto-mixer on the Ethereum blockchain, as evidence of regulatory control. Tether, in compliance with OFAC sanctions, has frozen assets associated with sanctioned wallets. Tether asserts compliance with Treasury OFAC sanctions and cooperation with law enforcement. Analysts foresee upcoming stablecoin regulations potentially eroding Tether's appeal due to transparency and compliance concerns with KYC/AML standards. DeFi platforms, relying on USDT as collateral and liquidity, may also face scrutiny. Analysts question Tether's transparency, citing concerns over its ability to maintain its dollar peg. Tether's dominance in the crypto sector has faced criticism from Wall Street, prompting strong rebuttals from Tether's representatives over perceived double standards in the banking sector. Source - cryptoslate.com #CryptoNews

7 days ago

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