Kategorie: Crypto Markets

• Nicolas Cary and Al Turnball received a summons from Companies House in May
• Blockchain.com blamed the late filing on a restructuring of the company and a “significant reduction in the wider group’s workforce”
• The company filed business accounts for the year ending 2020 in October

London-based Blockchain.com is facing prosecution after two senior executives failed to submit company records on time.

The Telegraph reported that Nicolas Cary, Blockchain.com’s co-founder and president, and operations executive Al Turnball received a summons by Companies House in May.

According to the report, Blockchain.com only filed its business accounts in October for the year ending 2020. However, the legal claims focus is on the company’s delayed filing of accounts for the year ending December 2022.

Blockchain.com blamed the late filing on a restructuring of the company and a “significant reduction in the wider group’s workforce,” which the company said has taken time to stablize.

In its 2020 accounts, Blockchain.com said it had hired legal advisors and was preparing to defend the charges against it.

The case was heard at Cardiff Magistrates Court on September 25 and another hearing is expected on November 26.

A spokesperson for Blockchain.com said:

“Blockchain.com takes seriously our compliance with license and regulatory requirements around the world. We have sorted all necessary documents related to this entirely administrative matter, and are confident it will be closed quickly.”

Established in 2011 by co-founder Peter Smith and Nicolas Cary, Blockchain.com has 37 million verified users, serves more than 200 countries, has over 89 million wallets, and has processed more than $1 trillion worth of transactions. Some of its investors include Baille Gifford, DST Global, and Google Ventures.

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• APE price reached highs last seen in April, surging more than 15% in 24 hours to break to $1.66.
• The ApeCoin price was up more than 100% in the past week amid news around the launch of ApeChain.

ApeCoin (APE), the governance and utility token of the ApeCoin web3 ecosystem, rose more to its highest price level since early April.

The APE token, related to the Bored Ape Yacht Club (BAYC) ecosystem, reached intraday highs of $1.66 to see its gains over the past week top 100%. ApeCoin last traded around these levels in April after Bitcoin led cryptocurrencies higher in the rally to above $73k.

Why is ApeCoin price surging?

APE’s gains came as BTC surged to above $69,300 over the weekend. However, there’s another catalyst that looked to have been at play for ApeCoin price.

That’s the launch of ApeChain, a blockchain network offering a layer-3 chain on Arbitrum One. Yuga Labs, the developer of BAYC, announced ApeChain’s debut on Oct. 20.

Horizen Labs and OffChain Labs proposed the launch of ApeChain in December 2023. Debut for the new blockchain network brings NFTs, trading and decentralised applications to APE token holders.

ApeChain bridge is also live, which means holders can transfer APE to ApeChain to earn staking yield. Support includes APE, Ether (ETH) and stablecoins. Meanwhile, integration with LayerZero on the ApeChain mainnet brings the benefits of cross-chain transfers and interoperability to the community.

The APE token traded around $1.53 at the time of writing, about 15% up in the past 24 hours. It reached its all-time of $26.70 in April 2022, which puts the current price about 94% off the all-time peak.

However, APE/USD has surged more than 215% since dropping to lows of $0.482 on August 5, 2024 when most cryptocurrencies crashed alongside BTC.

The potential ascending triangle pattern breakout could nonetheless provide bulls with new impetus.

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• Stripe has closed a $1.1 billion acquisition of stablecoin firm Bridge.
• The company reestablished support for crypto payments in April, adding USDC on Ethereum, Solana and Polygon in October 2024.

Stripe has completed the acquisition of Bridge, a stablecoin platform that helps companies and businesses accept payments in stablecoins.

According to TechCrunch founder Michael Arrington, Stripe’s deal for Bridge is valued at $1.1 billion and is the fintech company’s largest to date. The TechCrunch founder shared the news via X.

Stripe’s acquisition of Bridge comes after reports of talks for a deal surfaced last week. This also comes after Stripe, which has recently increased its visibility in the crypto space with recent deals such as TaxJar and Lemon Squeezy, unveiled its latest crypto-focused feature.

The ‘Pay with Crypto’ feature, which integrates Paxos, allows companies to add stablecoins to their checkout systems. It’s a step that has also seen several other platforms partner to bring stablecoin payments to more businesses.

Stripe partners with Paxos to launch stablecoin payments platform https://t.co/4Zp4Ya4JmN

— CoinJournal (@CoinJournal) October 15, 2024

Stripe had previously halted crypto payments in 2018 before making a reentry in April 2024. Stripe also partnered with Coinbase to integrate Base, a layer-2 network, in June. In July, the fintech expanded its crypto product to the European Union.

The most recent milestone saw Stripe re-introduce crypto payments with USDC on Ethereum, Solana and Polygon.

Meanwhile, entrepreneurs Sean Yu and Zach Abrams unveiled Bridge in 2022. The platform raised $58 million from venture capital investors, with $40 million secured during a Series A round at a valuation of $200 million.

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• Brad Garlinghouse said that Ripple is in a “strong financial position” and that a Ripple IPO has been a “back burner topic”
• Garlinghouse said that Gary Gensler’s “days are numbered” as the SEC Chair
• The CEO believes the market headwinds are beginning to ease, bringing more capital into the industry

Ripple’s CEO has said an IPO isn’t a priority for the company, partly because of its challenges with the US Securities and Exchange Commission (SEC).

Speaking at the Ripple Swell Conference, Brad Garlinghouse spoke about XRP’s future, the SEC, crypto regulation, Ripple’s new RLUSD stablecoin, and XRP exchange-traded fund (ETF) filings.

On the topic of an IPO, Garlinghouse said “an IPO has not been a high priority for us and part of that is because the SEC is not our friend.”

He added that for a company to issue an IPO, it’s because they want to raise capital. Garlinghouse stated that Ripple is in a “strong financial position” that has seen them investing in different crypto projects.

“We have a couple of dynamics here with Ripple,” Garlinghouse said. “One is we have a hostile SEC, hostile US environment, and we have a company that doesn’t need to go raise capital. So it’s just been a back burner topic.”

Notably, he didn’t knock down the possibility of an IPO in the future.

Headwinds are easing

Touching on the SEC, Garlinghouse said that the agency is “acting outside of the law,” calling them a “rogue agency” when it comes to XRP. The CEO spoke about how despite a ruling that deemed XRP wasn’t a security, the SEC is still saying that it is. In his words, what the agency is doing “is not ethical behavior.”

Despite the hurdles that Ripple faces with the SEC, Garlinghouse mentioned that Gary Gensler’s days “are numbered” as the SEC Chair, and that eventually regulatory clarity will come to the industry.

Garlinghouse also spoke about the RLUSD stablecoin, noting that the company has been using stablecoins, such as USDC and Tether, in their payment flows for years. He highlighted that their stablecoin would bring more liquidity to the XRP ledger, and that they aim to replace using USDC and Tether with RLUSD.

Looking to 2025, Garlinghouse believes that the headwinds that have affected the market – FTX, the banking crisis, and even Senator Elizabeth Warren saying crypto is bad – will start to ease bringing with it more capital into the industry.

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• Dogecoin price spiked double-digits in 24 hours to hit its highest level in close to three months.
• DOGE price broke above $0.13, above levels seen in July as several meme coins surged.

While the meme coin’s price rose amid broader optimism in the crypto market, which had Bitcoin above $68k, its likely Dogecoin benefited from fresh upside sentiment following latest comments by Tesla CEO Elon Musk.

Per data from CoinMarketCap, DOGE ranked as the best performing coin among the top 100 cryptocurrencies by market cap on Friday morning. The dog-themed meme coin’s 10% in 24 hours gain came as Popcat, Mog Coin, Floki and cat in a dogs’ world all surged.

At the time of writing, the global meme coin market cap was up 3.6% to $62 billion, likely indicating a bullish flip for crypto is setting up.

As Dogecoin price eyes further gains, crypto analysts are suggesting a potential breakout in on cards.

Crypto trader Hardy says DOGE has seen a “textbook” falling wedge breakout and could be in for a wild run.

$DOGE, the meme king is waking up! A textbook breakout from the falling wedge. 🚀

I’m eyeing dips to build a solid long position.

Buckle up things could get wild 🔥 pic.twitter.com/fmzQhrHKsD

— Hardy (@Degen_Hardy) October 18, 2024

DOGE spikes amid Musk comment

Donald Trump has previously noted that he’s open to X owner and Tesla CEO Elon Musk joining his cabinet if Trump wins the upcoming election. This particular position is the new Department of Government Efficiency, or abbreviated to ‘DOGE’.

In comments made in Pennsylvania, Musk replied to a question related to the potential of him joining the new docket by mentioning “DOGE”. Although not explicitly about the meme coin, it’s notable that Musk has previously supported Dogecoin.

Tesla even added the meme coin as a payment option for its EVs. DOGE price reached an all-time high of $0.73 in May 2021.

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