State regulators secure full refunds for investors in $1 billion settlement with GSB Group

The Texas State Securities Board has reached a $1 billion settlement with GSB Gold Standard Corporation AG and affiliated entities, known as GSB Group, over its alleged illegal crypto offerings, according to a Sept. 9 press release. The settlement, spanning multiple states, guarantees full refunds regardless of the products or services purchased, including digital assets […]

The post State regulators secure full refunds for investors in $1 billion settlement with GSB Group appeared first on CryptoSlate.

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FBI reports Americans lost $5.6B to cryptocurrency fraud in 2023

The elderly were the most vulnerable, and crypto ATMs have a variety of illicit uses, the report found.

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Analysts Predict Biggest And Craziest Bull Run Yet As Bitcoin Struggles To Stay Above $55K

Crypto analysts forecast a monumental bull cycle for Bitcoin and the broader crypto market, even as BTC struggles to stay above $55K. Upcoming rate cuts [...]

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Arthur Hayes Closes Bitcoin Short, Predicts Market Support From Janet Yellen Could Drive BTC Higher

Former BitMEX CEO Arthur Hayes closed his Bitcoin short position and predicted that US Treasury Secretary Janet Yellen will print more money to support markets, [...]

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Unisat-backed Bitcoin scaling solution Fractal Bitcoin launches mainnet

Fractal Bitcoin launches mainnet, leverages Bitcoin Core code for enhanced scaling. The network offers sub-30-second block confirmations and a 20x capacity increase. The network’s native token, FB, supports proof-of-work mining, with half pre-mined for allocations. Fractal Bitcoin, a groundbreaking Bitcoin scaling solution, has officially launched its mainnet, ushering in a new era for Bitcoin scalability. […]

The post Unisat-backed Bitcoin scaling solution Fractal Bitcoin launches mainnet appeared first on CoinJournal.

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Nigerias SEC to crack down on unregulated crypto exchanges

Nigerias SEC will enforce regulations on unregulated crypto businesses as it aims to protect investors and encourage innovation in the growing market.

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Bitcoin SOPR dips below 1.0, mirroring bear market signals from 2018 and 2019

Onchain Highlights DEFINITION: The Spent Output Profit Ratio (SOPR) is computed by dividing the realized value (in USD) by the value at creation (USD) of a spent output. Or simply: price sold / price paid.  Bitcoin’s 7-day moving average SOPR has fallen below 1.0, suggesting that a majority of spent outputs are being sold at […]

The post Bitcoin SOPR dips below 1.0, mirroring bear market signals from 2018 and 2019 appeared first on CryptoSlate.

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Binances Tokocrypto Secures PFAK License in Indonesia

Tokocrypto, a subsidiary of Binance, has officially secured a Physical Crypto Asset Dealer License (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Authority (Bappebti). This is a milestone that can’t be ignored for the exchange as it became the third one to get such a status in the country. As per the latest report, Tokocrypto, which […]

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Quant Price Prediction: QNT Surges 9% As The Crypto All-Stars ICO Zooms Past $1 Million In 3 Weeks

The Quant price surged 9% in the last 24 hours to trade at $70.49 as of 00:59 a.m. EST on trading volume that plunged 69% [...]

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New Cryptocurrency Releases, Listings, & Presales Today BYIN, Multichain, Mega Dice

Recent developments, such as Kamala Harris’s campaign accepting cryptocurrency donations, indicate a growing acceptance of digital assets in mainstream U.S. politics. This shift towards a [...]

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Japan Based Agile Energy X Considers Green Bitcoin Mining

Japan-based Agile Energy X is reportedly considering green Bitcoin mining to save wasted renewable energy. Founded in 2022,…

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Coinbase Under Fire: Class Action Suit on SEC Disclosures Advances in Court

Coinbase's legal troubles deepened last week after aUS judge allowed a class action lawsuit from shareholders to move forward. Thelawsuit claims the crypto exchange misled investors about its exposure toregulatory risks, particularly from the US Securities and Exchange Commission(SEC).

Heightened Scrutiny

This ruling comes as Coinbase faces heightenedscrutiny from regulators. A group of Coinbase shareholders claims the companymade "materially false and misleading statements" regarding itschances of facing legal action from the SEC.

According to the court filings, the plaintiffs, whobegan purchasing shares in 2021, argue that Coinbase downplayed the risk of anSEC lawsuit, which eventually materialized in June 2023 when the regulator suedthe exchange for allegedly violating federal securities laws.

US District Judge Brian Martinotti, presiding over thecase in New Jersey, ruled that the shareholders have a plausible argument thatCoinbase acted negligently. The court found that Coinbase may havemisrepresented the likelihood of an SEC enforcement action despite repeatedlyassuring investors that the crypto assets it listed were not consideredsecurities.

The class action lawsuit is one of several legalchallenges Coinbase is currently grappling with. In addition to the shareholdersuit, the exchange is also locked in a legal battle with the SEC. In June 2023,the regulator filed a lawsuit against Coinbase, accusing it of violating US federalsecurities laws.

Coinbase's motion to dismiss the SEC's claims was largely unsuccessful. The judge ruled that the SEC presented plausiblearguments that merit further exploration in court, Coindesk reported.

Regulatory Woes Escalate

Coinbase has faced growing regulatory scrutiny asgovernments and financial authorities worldwide tighten their oversightof the crypto industry. The outcome of these lawsuits could have significantimplications not only for Coinbase but for the broader cryptocurrency market.

As the legal proceedings unfold, Coinbase facessignificant uncertainty. The company's assurances to investors about itsregulatory compliance and the potential risks of SEC enforcement are now underintense legal scrutiny.

In June, Coinbase filed lawsuits against the SEC and theFederal Deposit Insurance Corporation. According to a report by FoxBusiness,the lawsuits claim that both agencies failed to fulfill Freedom of InformationAct requests submitted to the US District Court for the District of Columbia.

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Bitcoin To Break $100K By 2025? Experts Weigh In On Potential New ATH

With its overall market valuation down about 30% from its March 2024 record of $2.89 trillion, the cryptocurrency market is reaching a turning point. Investors are worried as the market cap as of September 8, 2024, is $1.93 trillion. Nonetheless, a recent BTC price forecast indicates that Bitcoin is anticipated to rise by 83.70% in the next three months, indicating possible comeback. Related Reading: Helium (HNT) Network Expansion Fuels 13% Gains Despite Faltering Market Although Bitcoin has lost a quarter from its all-time high of $74,000, analysts like Alan Santana think a major comeback is just around the corner. The latest forecast of the BTC price by CoinCheckup, on the other hand, show that Bitcoin will surge 80% in the next three months and hence may also reflect its possible comeback. Now changing hands at $54,320, Bitcoin has shed 25% off its peak of $74,000, but it is due for a sharp rebound, Santana said. When Will Bitcoin Hit $100,000? New ATH & More (The Greatest Cryptocurrency Analysis On Earth!) #Bitcoin Bitcoin is going to hit $100,000 in 2025… I am going to breakdown how everything will develop in a few minutes. How are you feeling in this beautiful Saturday/Sunday? pic.twitter.com/xNaZSBOfKx Alan Santana (@lamatrades1111) September 8, 2024 Santana thinks that Bitcoin could reach $100,000 by the year 2025. The ongoing correction does not deter the analyst from being so optimistic in regards to the long-term outlook for the top crypto. At the same time, he warns that this downtrend is not over yet, and investors should expect some turbulence before seeing a more sustained uptrend. Market Sentiment And Short-Term Outlook Bitcoin is currently 44% below its estimated value for next month, the latest forecast shows. However, a short-term uptrend is seen in the next seven days. Over three months, Bitcoin is predicted to shoot up by 83%, showing signs of recovery from its poor performance lately. Santana believes that though the price movement for Bitcoin will not be fast, it would stabilize the market after surviving fluctuations and swings. Bitcoin will advance relatively slowly across the remainder of 2024, and this would give altcoins room to start to outperform BTC in the interim. That said, altcoins might also supply larger returns for investors looking beyond Bitcoin’s gradual recovery once the market enters its accumulation phase late in the year. Other Coins To Surpass Bitcoin? Although Bitcoin could still remain the top crypto, some altcoins like Ethereum might shine in the not too distant future. It does have an upside, though, if certain market conditions move in its favor. This could open a window of opportunity for other cryptocurrencies that may perform better than Bitcoin as investors begin to diversify their portfolios. Related Reading: Ether Liquidity Plummets 40% On Exchanges After ETF Debut Long-Term Predictions: A Slow Climb To $100K Long term forecasts for Bitcoin would show ongoing acceleration of growth. Forecasts call for a 91% rise in six months, so early in March or April of 2025 Bitcoin might get to $100,000. This, according to Santana, is not an overnight jump but rather an upward trend due to improving market conditions and institutional interest. A new all-time high by late 2025 most likely falls between $150,000 and $220,000 depending on factors including inflation and market mood. Though the long-term projections are favorable, Santana urges caution about near future activity since volatility is still high and this current market slump has not yet fully run its course. Featured image from Pexels, chart from TradingView

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Bitcoin ETFs record combined $1.2B in outflows in 8 days

Despite the outflows, crypto ETFs outshined the over 400 new ETFs in 2024, with the four biggest launches being spot Bitcoin ETFs.

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Difference Between Hybrid and Federated Blockchains

Just like the difference between public and private, here are the key differences between hybrid and federated blockchains...

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XRP Reserve Drop on Binance, Bullish Signal or Red Flag?

The post XRP Reserve Drop on Binance, Bullish Signal or Red Flag? appeared first on Coinpedia Fintech News

Since August 2024, the reserve of Ripples native token XRP has significantly declined on Binance, the worlds biggest cryptocurrency exchange. Experts and analysts view this as a positive sign, suggesting it could indicate accumulation. XRP Reserve Decline According to the on-chain analytic firm CryptoQuant, XRP reserves have declined by a significant 167 million tokens over …

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Community Reacts as Democrats Fail to Mention Crypto Legislative Policy

Lack of crypto mention in Kamala Harriss priorities and Chuck Schumers legislative agenda draws backlash from the industry.

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5 Best Altcoins to Buy This Week That Could 10X Soon $ETH, $T1500, $KAS, $AAVE, $UNI

In the second week of September, traditionally a challenging period for Bitcoin and the broader crypto market, there may be opportunities for strategic investment. Despite [...]

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Bitcoin Technical Analysis Report | 9th September 2024

On September 6, Bitcoin broke below its key support range of $55,724 to $73,777, triggering a sharp decline to an intraday low of $49,000, last seen on August 5. The cryptocurrency market experienced a major downturn, with BTC plunging to a one-month low of approximately $53,000, fueling bearish sentiment across the market. This drop led […]

The post Bitcoin Technical Analysis Report | 9th September 2024 appeared first on ZebPay.

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US, Canadian investors to get full compensation in GSB Group settlement

The German group is accused of running a multilevel marketing scheme that took in hundreds of millions of dollars in supposed crypto and metaverse investments.

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