Telo News - Crypto | DeFi | Web3

20 Sep 2024 09:25

Gold hit a new all-time high, surpassing $2,609 per ounce.

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19 Sep 2024 18:02

Over the past 24 hours, over $200m was liquidated, with $155.5m attributed to short positions, as Bitcoin surged more than 6% and exceeded $63,300.

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19 Sep 2024 13:46

Silvergate Capital, the parent company of crypto-focused Silvergate Bank, filed for Chapter 11 bankruptcy with listed assets between $100m and $500m and liabilities between $10m and $50m.

Silvergate Bank settled with the SEC for allegedly helping facilitate fraud at FTX. That month, the Federal Reserve dropped separate charges after it wound down, reimbursed customers, and ceased banking.

As part of its Chapter 11 bankruptcy, Silvergate's reorganization plan proposes fully paying several debts, including admin fees, taxes, and high-priority claims.

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19 Sep 2024 13:11

Donald Trump made a campaign stop at PubKey, a Bitcoin bar in New York City, and made his first BTC transaction to pay for his order.

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19 Sep 2024 12:52

The Bank of Korea will launch a pilot for its central bank digital currency (CBDC) by the end of 2024.

The initiative will start by allowing 100k citizens to convert their bank deposits into digital tokens, which can be spent at convenience stores, including Nonghyup Hanaro Mart.

Six major commercial banks and neobanks will participate in distributing the tokenized funds.

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19 Sep 2024 12:27

Federal Reserve Chairman Jerome Powell said that 17 out of 19 FOMC members are in favor of three or more rate cuts this year, with some even saying four or more rate cuts are necessary.

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19 Sep 2024 12:18

The active TON addresses outpaced those of other major L1 blockchains, including Tron, Ethereum, and Litecoin, reaching over 3m daily average users in the first week of September.

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19 Sep 2024 12:12

Rari Capital, a DeFi platform, settled with the SEC for an undisclosed amount for allegedly misleading investors and acting as an unregistered broker.

The SEC claims the co-founders misled investors, stating Earn pools would auto-rebalance, but manual adjustments were often needed and sometimes missed. The agency also claimed its Fuse platform resulted in Rari engaging in unregistered broker activity.

Rari and its co-founders neither admitted nor denied the findings, and part of the settlement is an agreement to cease and desist from breaking securities laws in the future.

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18 Sep 2024 18:51

Tether, the company behind stablecoin USDT, has released its Q2 2024 attestation report:

⚫️Reserves amounted to $118.4bn, exceeding liabilities by $5.3bn
⚫️Holds $97.6bn in U.S. Treasuries, making it the 18th largest holder, surpassing Germany, UAE, and Australia
⚫️Worked with 180 institutions in 45 jurisdictions globally, freezing around 1,850 wallets
⚫️Assisted in recovering over $113m in assets

Tether also launched TetherFacts, dedicated to addressing public concern while displaying its lifelong accomplishments.

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18 Sep 2024 15:55

Revolut, a London-based fintech giant, is planning to launch its own stablecoin.

The fintech giant, worth $45bn, received a national banking license in July, bringing it closer to becoming a fully licensed U.K. bank offering crypto services.

The firm would join other entrants in the stablecoin sector, including PayPal, Ripple, and BitGo, which announced its stablecoin at Token2049 in Singapore.

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18 Sep 2024 07:07

Donald Trump's role in World Liberty Financial, a crypto project by his sons, was revealed in its white paper to be the "Chief Crypto Advocate."

Eric and Donald Jr. were listed as the project's "Web3 Ambassadors," and 18-year-old Barron Trump was listed as the "Chief DeFi Visionary."

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18 Sep 2024 02:54

Prager Metis, the international accounting firm, settled with the SEC for $745k for alleged negligence-based fraud in its inaccurate audit of FTX before the November 2022 collapse.

Between 2017 and 2020, Prager Metis violated auditor independence rules, leading to an additional $1.2m in penalties and pre-judgment interest.

Prager must limit new business and retain a compliance consultant, as ordered by the SEC's Enforcement Division to enhance investor protection.

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17 Sep 2024 16:56

DBS Bank, Singapore's largest bank, will launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024.

These offerings will provide exposure to Bitcoin and Ethereum, allowing clients to hedge against market volatility.

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17 Sep 2024 14:06

DeFi Technologies, a Canadian crypto firm, is preparing for a Nasdaq listing after filing a Form 40-F with the SEC.

The company holds Bitcoin, Solana, and CORE, with 2024 profits of $105m, aiming to attract more investors through the uplisting.

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17 Sep 2024 12:21

MicroStrategy plans to offer $700m in convertible senior notes due 2028, with an option to raise an additional $105m.

The proceeds will be used to redeem $500m of Senior Secured Notes and acquire more Bitcoin.

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19 Sep 2024 19:13

The SEC requested an extension to move the discovery deadline in the Coinbase lawsuit from October 18, 2024 to February 18, 2025.

The request stems from the need to review over 133,000 documents related to Coinbase, giving the SEC more time to complete its probe.

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19 Sep 2024 15:59

Canada's central bank has decided to abandon plans for a central bank digital currency (CBDC), known as the "digital loonie," after nearly five years of research, without specifying a clear reason.

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19 Sep 2024 13:41

MEXC Ventures, Foresight Ventures, and Mirana Ventures launched a joint fund to support projects within the Aptos ecosystem.

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19 Sep 2024 13:03

Louisiana has become the first U.S. state to accept cryptocurrency as a valid form of payment

Louisiana residents will have the option to pay for state services from their private, secure crypto wallets using Bitcoin, Bitcoin Lightning, and USD Coin.

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19 Sep 2024 12:42

Commerzbank (CBK), the second-largest bank in Germany by number of branches, will launch a cryptocurrency service to corporate clients.

Customers will be able to trade Bitcoin and Ether through the bank's partnership with Crypto Finance.

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19 Sep 2024 12:20

The website domain of Ethena Labs, the issuer of the USDe stablecoin, was hacked. The team clarified that the protocol wasn't compromised but warned against interacting with its front-end.

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19 Sep 2024 12:14

The Hong Kong Monetary Authority (HKMA) reduced its base rate by 50bps to 5.25%, following a similar rate cut by the U.S. Federal Reserve.

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18 Sep 2024 20:00

💡💡💡
Federal Reserve cuts interest rates by 50bps for the first time in 4 years.

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18 Sep 2024 17:57

SIX Swiss Exchange, Switzerland's largest stock exchange, is exploring the creation of a crypto trading platform in the EU, leveraging the country's advanced crypto laws to attract traditional investors.

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18 Sep 2024 07:38

FTX prosecutors praised Caroline Ellison for her "exemplary" cooperation ahead of her sentencing for fraud on Sept. 24.

The U.S government highlighted her role in founder Sam Bankman-Fried's conviction, without recommending a specific sentence, but asked the judge to take her cooperation into account.

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18 Sep 2024 03:00

BlackRock has partnered with Microsoft to launch a $30bn AI investment fund called the Global AI Infrastructure Investment Partnership. This initiative will prioritize infrastructure, focusing on data centers and energy projects.

The partnership includes Abu Dhabi-backed MGX as a general partner, with Nvidia providing expertise, and could reach $100bn in investment.

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17 Sep 2024 20:35

BRICS is developing a new payment system that excludes the U.S. dollar, confirmed Russian Foreign Minister Sergey Lavrov.

This system will handle trading, investing, and settlements, allowing countries to bypass reliance on the dollar.

Lavrov stated that the move is a response to the U.S. and European sanctions, and he expects many developing nations to adopt the system to avoid potential sanctions.

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17 Sep 2024 16:34

TON Foundation and Curve Finance are partnering to launch a TON-based stable swap project, enhancing stablecoin trading with Curve’s technology.

This initiative aims to meet growing stablecoin demand and boost liquidity on the TON blockchain.

Submissions for development are open until September 24.

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17 Sep 2024 12:35

Senator Elizabeth Warren, along with two other Democratic senators, is urging the Fed to implement a 0.75% interest rate cut to protect the U.S. economy from potential recession.

They argue that aggressive cuts are needed to support the labor market and prevent further economic risk.

Meanwhile, BlackRock predicts the Fed's interest rate cuts will be smaller than expected, citing a strong economy and persistent inflation.

While markets anticipate deep cuts, BlackRock argues recession fears are overblown, and a large cut isn't necessary.

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17 Sep 2024 12:16

Digital asset investment products saw a $436m inflow this week, led by Bitcoin, while Ethereum struggled with continued outflows.

⚫Bitcoin led with $436m inflows, reversing a prior 10-day outflow
⚫Ethereum saw $19m in outflows, continuing its recent struggles
⚫U.S. inflows totaled $416m, with Europe also seeing strong inflows
⚫Blockchain equities gained $105m due to new ETF launches

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