Schlagwort: blockchain markets

• Senate Banking Committee chair Sherrod Brown called it a “disgusting smear campaign against Caroline Crenshaw”
• The vote was postponed minutes before it was due to begin by Brown
• No date has been set for Crenshaw’s renomination

A US Senate vote to renominate Democrat Commissioner Caroline Crenshaw to the Securities and Exchange Commission (SEC) has been postponed.

The vote was originally scheduled on December 11; however, it was postponed minutes before it was due to begin, reports Bloomberg. Sherrod Brown, the Senate Banking Committee chair, delayed the vote. When Brown requested the vote occur later that day, Republican senators blocked his request.

Brown later released a statement saying that corporate special interests are running a “disgusting smear campaign against Caroline Crenshaw.”

No date has been set for her renomination.

Earlier this week, crypto and blockchain advocacy groups voiced their opposition to Crenshaw’s renomination.

In a letter to Brown and Senate Banking Committee Ranking Member Tim Scott, the Blockchain Association and the DeFi Education Fund argued that Crenshaw’s actions have undermined Congress’s mandate to establish clear regulatory policies for the crypto industry.

In their letter, they mention Crenshaw’s “continued opposition to the approval of a spot Bitcoin ETP.”

Following the news of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to say: “She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn’t think was possible).”

A Republican-majority SEC?

The delay to Crenshaw’s renomination opens up the possibility of a three-person Republican SEC once Donald Trump enters the White House in January. Crenshaw’s term at the SEC officially ended in June; however, if she’s renominated she would be the only Democratic SEC commissioner.

The SEC can make up to five commissioners, but no more than three can form the same political party. Current SEC chair Gary Gensler, a Democrat, is stepping down on January 20, and SEC Commissioner Jaime Lizárraga, also a Democrat, will step down on January 17.

Last week, Trump nominated pro-crypto Paul Atkins, a Republican, as chair of the SEC.

Including Gensler and Lizárraga, the three remaining SEC commissioners include Republicans Hester Peirce and Mark Uyeda.

The post Vote postponed to renominate SEC commissioner Caroline Crenshaw appeared first on CoinJournal.

The crypto market has witnessed a number of tokens rallying toward new all-time highs (ATHs), including notable players like Bitcoin (BTC) and Tron (TRX). Despite some setbacks, such as the US government transferring nearly $2 billion worth of Bitcoin, BTC has remained resilient, triggering a massive impulsive move that saw it reach an ATH of $104,698. While Tron (TRX) hit its own milestone of $0.4485, new players like Rexas Finance (RXS), Solana (SOL), and XRP are gaining traction and vying for the spotlight. 

Rexas Finance: RXS Transforming Real-World Asset Investments

Rexas Finance is revolutionizing real-world asset (RWA) tokenization by bridging traditional investments with blockchain technology. Its platform enables users to tokenize and trade assets such as real estate, commodities, and collectibles, offering unprecedented access and liquidity. The Rexas Token Builder is the heart of this ecosystem, empowering users to tokenize assets with ease. Through this tool, users can issue digital tokens representing shares of physical assets, unlocking new investment opportunities. Complementing this feature is the Rexas QuickMint Bot, which simplifies token creation via platforms like Telegram and Discord.

Additionally, the Rexas Launchpad supports fundraising for blockchain projects, facilitating token sales and connecting developers with investors. This multifaceted approach reinforces Rexas Finance’s role in transforming asset management and investment.

With a total token supply of 1 billion, RXS has raised $25.25 million through its presale, now in Stage 9 at $0.125 per token. Investors purchasing at this stage can expect a 1.6x return upon launch, while the token’s price has already increased by 4.18x since Stage 1. A $1 million giveaway further incentivizes participation, offering 20 winners $50,000 each in USDT. Listed on CoinMarketCap and CoinGecko, RXS benefits from enhanced visibility, credibility, and community engagement. Its CertiK audit ensures robust security, instilling investor confidence. Rexas Finance’s potential for a $10+ valuation by early 2025 highlights its strong growth trajectory, making now the ideal time to join this transformative project.

Solana SOL Eyeing ETF Catalysts

Solana, currently trading at $224, is positioned for a breakout fueled by rumors of a potential ETF approval in 2025. Although its price has retreated from a high of $263, technical indicators suggest bullish momentum. Solana’s 50-day moving average remains above the 200-day moving average, and its RSI indicates room for growth without overbought conditions. Institutional interest in Solana remains strong, with key support levels around $215 and resistance near $240. A breach of this resistance could pave the way for a retest of its previous high and further gains. Solana’s integration into real-world applications strengthens its long-term outlook, with the potential ETF serving as a major growth driver. The community’s optimism about Solana’s future is reflected in its adoption and network upgrades. If market stability persists, SOL could achieve the significant milestone of $1,000 in the coming years.

XRP Sustaining a Bullish Momentum

XRP is riding a wave of bullish sentiment, rallying over 290% year-to-date despite early skepticism. Currently trading within a critical range of $2.13 to $2.92, XRP is poised to retest its all-time high of $3.8. Technical support at $1.88 and $2.13 reinforces its upward trajectory, while a breakout could trigger a new target of $3.999. Predictions for XRP extend beyond its current momentum, with some analysts forecasting prices as high as $10 or even $18 in the next market cycle. This optimism stems from XRP’s resilience in overcoming market challenges and its expanding utility within the crypto market. The token’s 200% rally in the last month underscores its potential to outperform expectations, particularly as it garners attention from analysts and investors alike.

Conclusion

As Bitcoin and Tron achieve new all-time highs, tokens like Rexas Finance, Solana, and XRP are carving their own paths to success. Rexas Finance’s innovative approach to real-world asset tokenization sets it apart, offering unmatched opportunities for investors. Solana’s potential ETF approval and XRP’s bullish momentum add to their appeal.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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• Kraken operator in Australia Bit Trade will pay a $5.1 million fine for non-compliance with regulatory requirements.
• The Australian Securities and Investment Commission accused the crypto platform of offering a credit facilty that did not comply with regulations.

Kraken crypto exchange’s Australian operator firm has been slapped with a AU$8 million ($5.1 million) fine for non-compliance with Australian regulations.

The Australian federal court fined Bit Trade following a lawsuit by the Australian Securities and Investment Commission. In its order, the court said that the Kraken crypto exchange operator must comply with the country’s crypto regulations.

The court ordered that the exchange ought to pay 8 million Australian dollars as a penalty for non-compliance with the local regulations. Notably, Kraken recently announced a licensed broker offering for clients in Australia.

Bit Trade failed to comply with regulations

In August this year, the court ruled in favour of the Australian Securities and Investment Commission. The regulator had filed a case accusing Bit Trade of issuing a credit facility without following the legal proceedings.

ASIC argued that Bit Trade did not make the target market determination, a requirement to protect investors. Between October 2021 and August 2023, ASIC stated that the firm offered a margin extension to 1,100 users which cost them a loss of over $5.2 million without following the legal requirements.

The market regulator’s demand was Bit Trade to pay a fine worth 20 million Australian dollars. On their argument, Bit Trade put their limit to a maximum of four million Australian dollars. The penalty follows these proceedings, and the Kraken operator in Australia has 60 days to comply with the order.

In addition, the firm would cover for all the commissions court proceedings costs.

Kraken has faced regulatory hurdles in the US too, with the Securities and Exchange Commission (SEC), suing the exchange earlier in November 2023.

SEC’s allegations include Kraken offering of unregistered activities and operating as an unregistered broker. In August 2024, a US court denied the exchange’s motion that sought to dismiss the SEC’s lawsuit.

The post Australia fines Kraken operator $5 million for non-compliance appeared first on CoinJournal.

• The WhiteBIT Nova card allows EU users to spend crypto directly with no conversions.
• The debit card offers up to 10% BTC/WBT cashback with customizable daily spending categories.
• Backed by Visa, the debit card supports Apple Pay, with €10K daily and €25K monthly limits.

WhiteBIT, one of Europe’s largest cryptocurrency exchanges and a partner of FC Barcelona, FC Trabzonspor, ESL Faceit, and Visa, has introduced the WhiteBIT Nova, a debit card with cashback rewards in collaboration with Visa.

The debit card will allow European Union (EU) residents to seamlessly integrate cryptocurrencies into their everyday spending, offering a practical and rewarding way to utilize digital assets.

The WhiteBIT Nova card features

Issued by Wallester AS, a leading card issuing platform in Europe, the WhiteBIT Nova card is backed by Visa’s global network. This partnership not only provides extensive acceptance worldwide but also integrates with Apple Pay, allowing for secure and contactless payments.

The card’s daily spending limit is set at 10,000 EUR equivalent, with a monthly limit of 25,000 EUR, offering flexibility for users who wish to use their digital assets in more substantial transactions.

Unlike traditional bank cards, the WhiteBIT Nova card requires no initial deposit to activate, and there are no fees for opening or closing the card. The card can be used both as a digital version, available instantly through the WhiteBIT app and as a physical card, which is delivered within 10 business days for a fee of up to €10.

This flexibility allows users to choose between immediate convenience and traditional card use.

Another of the standout features of the WhiteBIT Nova card is its support for multiple cryptocurrencies, including USDC, BTC, ETH, XRP, SOL, NEAR, ADA, AVAX, WBT, and DOGE. This enables users to spend a wide range of digital assets directly, without the need for conversions.

Furthermore, the card offers up to 10% cashback as a standard feature, paid in Bitcoin (BTC) or WhiteBIT Coin (WBT).

Users can select cashback categories like groceries (1%), food/restaurants (3%), medicine (3%), taxi (3%), pet supplies (5%), and subscriptions (10%). They can adjust these categories daily, allowing them to maximize their rewards based on their spending habits.

The post WhiteBIT and Visa launch crypto debit card with cashback appeared first on CoinJournal.

• Binance will adopt USDC into its corporate treasury and make the stablecoin more widely available to its 240 million users
• Circle will help Binance build relationships across the finance and commerce landscape
• Circle’s USDC is compliant with stablecoin regulations in Europe and Canada

Binance and Circle have entered a partnership designed to boost the adoption of the stablecoin USDC while supporting the development of global digital assets and a broader financial services ecosystem.

Jeremy Allaire, chairman and CEO of Circle, and Richard Teng, CEO of Binance, made the announcement at Abu Dubai Finance Week.

Through the partnership, Binance will make USDC more widely available on its platform, “ensuring that their more than 240 million global users are able to seamlessly access and use USDC for trading, saving, and payments applications,” an announcement said.

The crypto exchange will also adopt USDC into its corporate treasury. According to Allaire, Binance is “putting their full faith behind USDC as a digital dollar for storing and moving value.”

In return, Circle will provide Binance with tools and technology while helping Binance build relationships across the finance and commerce landscape.

In a post on X Allaire, said:

“As Binance itself becomes one of the most widely regulated global exchanges, and continues to invest in robust compliance and risk management infrastructure, the marriage of the largest and fastest growing compliant stablecoin with their global platform marks a major and material shift in the emerging crypto market structure as we enter 2025.”

BREAKING NEWS:  Circle and Binance have entered into a strategic partnership that will accelerate global USDC and crypto adoption.  The world’s largest exchange and crypto super app and the world’s largest trusted and compliant dollar stablecoin operator are coming together to… pic.twitter.com/WO8w4rv3NZ

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) December 11, 2024

A great year for Circle

In July, Circle became the first stablecoin issuer to secure regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) regulations. Then in December, Circle became the first stablecoin issuer to receive approval from the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA).

In September, Circle announced it was partnering up with Sony Block Solutions Labs to enable USDC on Soneium, an Ethereum layer 2 solution. Through the partnership, Allaire said it was “Circle’s mission to accelerate the adoption of our stablecoins and blockchain technology.”

The post Circle and Binance team up to boost global USDC adoption appeared first on CoinJournal.