Tuesday, June 25, 2024

Crypto & Blockchain

50 Cent’s Accounts Hacked to Promote Solana Meme Coin

Rapper 50 Cent’s social media accounts, including Twitter and his website, were hacked to promote a Solana-based meme coin named GUNIT. The scam led to a significant increase in the token's value before the accounts were secured. Initial claims suggested the hackers made $300 million, later revised to $3 million. This incident highlights the ongoing risk of celebrity account hacks used for crypto scams.

3iQ’s Move to Launch Solana ETP in Canada

3iQ, a prominent digital asset manager, has applied to launch a Solana-based exchange-traded product (ETP) in Canada. This move aims to provide investors with easier access to Solana, reflecting the growing interest in the blockchain platform.

SEC Ends Ethereum 2.0 Investigation

The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0, providing some clarity but leaving unresolved legal questions regarding the classification and regulation of the network’s transition to proof-of-stake.

Ripple’s Legal Challenges Continue

Ripple is set for a new legal battle after a U.S. judge approved a trial regarding alleged misleading statements made by CEO Brad Garlinghouse in 2017. The case will determine if Garlinghouse's comments about being "very, very long XRP" misled investors, despite Ripple’s attempts to dismiss the claims by arguing that XRP is not a security.

Trump Proposes Green Cards for Foreign Graduates

Former President Donald Trump has proposed granting automatic green cards to foreign students who graduate from U.S. colleges. This marks a significant shift from his previous immigration policies and aims to attract and retain highly skilled individuals in the United States.

Nigeria Enhances Crypto Regulatory Framework

The Nigerian Securities and Exchange Commission (SEC) has updated its regulations on digital assets, aiming to foster a more robust and adaptable regulatory environment. This includes the launch of the Accelerated Regulatory Incubation Programme (ARIP) to help Virtual Assets Service Providers (VASPs) comply with new standards.

Solana’s User Base Skyrockets

Solana's user base has surged past 30 million monthly active addresses, reflecting significant growth and adoption. This milestone coincides with a proposal by 3iQ to launch North America’s first Solana-based ETF on the Toronto Stock Exchange, potentially enhancing Solana's visibility and appeal.

Tokenization Poised to Transform Financial Markets

A McKinsey report highlights tokenization as a transformative force in financial markets, predicting significant changes in asset management and trading.

Tax Scrutiny on Crypto Traders in South Africa

South African tax authorities are intensifying scrutiny of cryptocurrency traders due to ongoing uncertainty about compliance and reporting requirements. The South African Revenue Service (SARS) is focusing on enforcing tax regulations in the rapidly growing crypto market.

Explosive Growth in Stablecoin Transfer Volumes

Stablecoin transfer volumes have surged tenfold over the past four years, reaching $1 trillion per month. This growth highlights the increasing adoption and use...

Winklevoss Twins Donate $2 Million in Bitcoin to Trump Campaign

The Winklevoss twins, founders of Gemini, have made a $2 million Bitcoin donation to former President Donald Trump’s 2024 campaign. Each twin contributed $1...