The crypto market has been witness to many highs in the past week or so. As Bitcoin rallies, so do most other altcoins. This behavior is usually constant, what with the dip in the earlier months of 2021, Bitcoin fell and so did many altcoins.
The latest development in the XRP lawsuit saw the court grant Motion to Seal in both, Slack and DPP disputes. Although, both parties pushed for a seal in their respective discovery disputes, yet Ripple may have bored the burn of the settlement.
The Australian Department of Home Affairs stated that the country lacked the technical capabilities to implement a system that complies with the travel rule proposed for cryptocurrencies. The Department concluded this in an appearance before the Senate in Australia last Friday. However, the Australian Department also stated that, if implemented, the system would be a game-changer for preventing crypto-related crimes.
OpenSea’s Head of Product Nate Chastain posted a plea for help, revealing the popular marketplace currently comprises just 37 people despite currently processing 98% of all NFT volumes.
xHunter is gearing up to have an exciting start to their phase one and phase two roll outs, which includes the development of their no-loss lotteries and unique NFT gaming platform. The platform will be going live on Binance Smart Chain this year, as a way to bridge outdoor gaming competitions and tournaments with crypto. In fact, trading for the xHunter token ($XHT) is set to begin on September 5, 2021, with a market cap of $1.5 million. This token will help govern the upcoming outdoor competitions xHunter will host globally.
The decentralized finance project xToken has suffered another exploit over the weekend after hackers discovered a vulnerability in the smart contracts for its xSNX product.
A cryptocurrency project called Safemoon has been trending in forums and social media in recent times, as the crypto asset team promised a few new products, but the team claims that the launch has seen difficulties. This weekend, a post published to the subreddit forum r/cryptocurrency claims “Safemoon has been exploited from day 1 and $68,460,000 have been siphoned out of the liquidity pool.”
A recent survey shows that more than one in ten people in the U.S. are investing in cryptoassets.
According to a report by CNBC published on August 24, the results from a poll conducted by CNBC and the American chemical company Momentive suggest that 11% of adults in United States are investing in cryptoassets.
European Central Bank (ECB) Vice President Luis De Guindos stated he wants cryptocurrencies to be subject to the same rules as other assets. The statements were offered in a presentation given as part of the summer courses offered by the European Parliament, where De Guindos declared his opinion about cryptocurrency regulation. Cryptocurrency regulations are still in a grey area in most countries.
The Securities and Futures Commission (SFC) of Hong Kong has announced the launch of its latest initiative against scams and crypto frauds. It is aimed at alerting the public about arrangements that are suspected to be collective investment schemes (CIS), like digital tokens and ICOs.