FTX Token spikes 70% amid looming bankruptcy distributions
The native token of the bankrupt crypto exchange FTX has seen sharp bullish action amid looming bankruptcy distributions.
The native token of the bankrupt crypto exchange FTX has seen sharp bullish action amid looming bankruptcy distributions.
Gavin Newsom vetoed SB 1048, saying that “while well-intentioned,” it could place unnecessary restrictions on emerging AI companies in California.
The stock market ended last week on a high note, wrapping up the quarter with a sense of optimism. This positive momentum is largely fueled by expectations that the Federal Reserve’s recent interest rate cut will boost economic activity and set the stage for a stronger performance in the new quarter. With the presidential election approaching in November, investors are increasingly focused on how the political landscape may influence market movements.
According to Odaily, Bolivia has experienced a significant increase in cryptocurrency transactions over the past three months following the legalization of digital payment channels. The Bolivian Central Bank recently reported that the country's monthly virtual asset trading volume surged from $7.6 million to $15.6 million, driven primarily by stablecoin transactions and growing public interest. This growth is attributed to the implementation of Executive Board Resolution No. 082/2024, which came into effect in June and allows the purchase of virtual assets through electronic payment channels.The number of virtual asset transactions also saw a substantial rise, with over 1.1 million transactions recorded from July to September, compared to approximately 932,000 in the previous six months. Most of these transactions were conducted by individuals. Additionally, the Financial System Supervisory Authority (ASFI) reported that six financial institutions have begun using virtual assets in their operations, further integrating these digital tools into Bolivia's economic system. Data shows that the business activities of these institutions increased by 40% between July and August.To support this expansion, the Bolivian Central Bank launched an educational program to inform the public about the characteristics and risks of virtual assets. The program included 33 workshops nationwide, attended by over 3,000 people. Central Bank President Edwin Rojas Ulo emphasized that this initiative is part of a broader strategy to modernize the economy and enhance international business and financial activities.In late June, Bolivia lifted its ban on Bitcoin and other cryptocurrencies, which had been in effect since December 2020. On June 26, the Bolivian Central Bank officially announced that banks are now permitted to conduct cryptocurrency transactions. However, despite the authorization to trade cryptocurrencies through approved electronic channels, the Bolivian Central Bank reminded citizens that cryptocurrencies are not considered legal tender.
According to the FTX bankruptcy estate, total claims from injured parties top $11 billion, as a court hearing to confirm the plan looms.
Ju’s push for “smart regulation” in Web3 aims to curb scams, build trust, and ensure responsible growth, sparking community debate.
The Dutch AFM issued warnings about crypto market manipulation, focusing on pump-and-dump schemes ahead of MiCA’s implementation in December.
Lou Jiwei stressed that China must assess cryptocurrency developments, particularly as the US shifts policy on Bitcoin ETFs.
Christian Angermayer claimed the United Kingdom’s latest tax proposal for non-doms would be a “huge mistake” and be “a bigger act of national self-harm than Brexit.”
The cryptocurrency market surged Thursday, extending the rise sparked by the Federal Reserve’s first interest rate cut in more than four years. The rally was spearheaded by popular dog-themed memecoin Shiba Inu, which spiked more than 20% in the last 24 hours, touching levels not seen since mid-June. Don’t Miss: 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet? If you invested $100 in DOGE when Elon Musk first tweeted about