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The buyout proposal from Alameda and FTX seems to have upset Voyager’s lawyers, who do not see the offer as a serious one that would benefit its users. from Cointelegraph.com News https://ift.tt/oLfhcSY via IFTTT

Former President Donald Trump has warned that the U.S. economy is facing “a much bigger problem than recession.” Noting that “We’ll have a depression,” he stressed: “We have to get this country going, or we’re going to have a serious problem.” Donald Trump on Economic Recession and Depression Former President Donald Trump warned Friday in a speech during a “Save America” rally in Arizona that the U.S. could enter an economic depression due to the fiscal policies of President Joe Biden. His remark was in support of Republican Arizona gubernatorial candidate Kari Lake. Trump warned that the U.S. economy could enter a depression similar to the Great Depression of 1929. Recent data showed that inflation in the U.S. rose 8.6% in May from a year prior, the highest rate in four decades. “Real wages are collapsing and we’re on the verge of a devastating, and this is devastating. It’s called stagflation look it up. It’s not good,” Trump stressed. “What I’m concerned about, they keep talki...

The U.S. Securities and Exchange Commission (SEC) has been heavily criticized for its approach to regulating the crypto sector. The criticism followed the securities regulator’s action against a former Coinbase employee in an insider trading case, in which the SEC named nine crypto tokens listed on Coinbase as securities. SEC Slammed for Regulation by Enforcement The U.S. Securities and Exchange Commission (SEC) has been heavily criticized for taking an enforcement approach to regulating the crypto sector after the regulator charged a former Coinbase employee in an insider trading case. In its complaint, the SEC stated that nine crypto tokens listed on Coinbase are securities, a finding immediately disputed by the Nasdaq-listed crypto exchange. Commodity Futures Trading Commission (CFTC) Commissioner Caroline D. Pham released a statement about the case Thursday. She wrote: The case SEC v. Wahi is a striking example of ‘regulation by enforcement.’ “The SEC complaint alleges t...

Three months ago, there were 441,546 wrapped or synthetic bitcoins on the Ethereum and Binance Smart Chain worth $17.45 billion using exchange rates on April 24, 2022. Since then, that number has dropped by 53,582 synthetic bitcoins and today the number of wrapped or bonded bitcoins is approximately 387,964 worth $8.81 billion in value. Number of Wrapped or Synthetic Bitcoins Held on Ethereum Declines In the last few years the use of wrapped, bonded or synthetic bitcoins has increased a great deal and earlier this year there were close to half a million synthetic bitcoins held on the Binance Smart Chain (BSC) and Ethereum ( ETH ) blockchains. A great majority of these types of tokens stem from the Wrapped Bitcoin (WBTC) project as the ERC20’s market cap is the 18th largest among 13,373 crypto assets. At press time, WBTC has a circulating supply of around 236,882 wrapped bitcoins with a valuation of around $5.38 billion today. However, WBTC’s circulating supply has decreased a grea...

The financial regulator of Taiwan has asked local banks not to allow the use of cards for payments in transactions involving cryptocurrencies, local media revealed. The authority says these assets are risky while associated cash flows are hard to monitor. Taiwanese Regulator Urges Banks Not to Allow Crypto-Related Payments With Bank Cards Taiwan’s Financial Supervisory Commission ( FSC ) has told credit card issuers and banks to effectively prevent their customers from using credit cards as a payment instrument in transactions linked to cryptocurrencies, according to a report published by the business news portal UDN. The watchdog is citing the latest crypto market downturn as well as persisting concerns over money laundering risks associated with the virtual assets, which it also describes as highly speculative and extremely volatile. Financial industry sources claim the FSC issued the call in a letter to the Bankers Association of Taiwan earlier in July. This week, the authorit...

If Bitcoin clears its overhead resistance level, ETH, BCH, AXS and EOS could resume their uptrend with surprising strength. from Cointelegraph.com News https://ift.tt/yZr2nPv via IFTTT

While bitcoin itself is difficult to confiscate or censor, U.K. courts have labeled bitcoin as property which aids in recovery when scammers try to cash out. bit.ly/3f7o14k http://dlvr.it/SVQPQz

The central bank of Ukraine has adjusted the fixed exchange rate of the national currency in U.S. dollars and introduced stricter limits on hryvnia transactions for citizens. The measures are likely to turn more Ukrainians to cryptocurrencies, according to a representative of the local crypto sector. War-Time Hryvnia Limits Expected to Increase Interest in Cryptocurrency The National Bank of Ukraine ( NBU ) has introduced new rules in response to the changing fundamentals of the country’s economy during an ongoing military conflict with Russia. The monetary authority devalued the Ukrainian hryvnia against the strong U.S. dollars by 25% on Thursday and set new limits on banking operations with the national fiat. According to the updated regulations for private individuals, enforced on July 21, banks can sell non-cash foreign currency to their customers only if the amounts are deposited for a period of at least three months, without an option to terminate the contract. The 50,000-...

The founder and CEO of the leading exchange FTX, Sam Bankman-Fried has offered to give early liquidity to Voyager Digital’s customers, according to an announcement FTX published on July 22. Furthermore, Bankman-Fried discussed the crypto industry with CNBC in an exclusive interview, and noted that he was willing to deploy “hundreds of millions beyond what we have thus far” to help digital currency companies affected by the crypto market downturn. FTX Plans to ‘Provide Early Liquidity to Customers of Voyager’ Not too long ago on June 28, Sam Bankman-Fried told Forbes author Steven Ehrlich that some crypto firms were “secretly insolvent” and he warned more insolvencies were coming. The FTX CEO’s words came true, as more companies with financial issues followed the problems customers were having with Celsius freezing withdrawals . Celsius eventually filed for bankruptcy protection alongside Three Arrows Capital , and Voyager Digital . happy to do what we can to get liquidity to Voy...

Finland has sold 1,889 bitcoins seized in narcotic cases for 46.5 million euros ($47.4 million). The country’s finance minister previously said that the bitcoin sale proceeds will go to Ukraine for humanitarian aid and reconstruction as its war with Russia continues. Finland Sells Bitcoin Seized From Narcotic Offenses Finnish Customs (aka Tulli), the customs service of the government of Finland, announced Thursday that it has sold “legally forfeited” bitcoins. “During the summer, Finnish Customs has realized its cryptocurrencies that had been legally forfeited to the state,” the announcement details, elaborating: The realization concerned 1,889.1 bitcoins. The state gained about 46.5 million euros in total in proceeds from their sale. The customs service explained that the bitcoins were seized “in connection with investigations into offenses related to narcotics and doping substances.” The coins “were sold by the two cryptocurrency brokers selected by Customs through competiti...