Author: Coin Viz

SEC Commissioners Hester M. Peirce and Mark T. Uyeda criticized the regulator’s enforcement action against the Flyfish Club non-fungible token (NFT) collection. In a Sept. 16 letter, the commissioners argued that securities laws are not applicable in this case. Flyfish Club, a dining establishment, sold NFT as exclusive access to a future restaurant and bar. The club created about 3,000 NFTs, selling over half at $8,400 for regular NFTs and $14,300 for Omakase NFTs, raising $14.8 million. It also earned $2.7 million in secondary sale royalties. As a result, the SEC charged Flyfish Club with conducting an unregistered offering of…

Salesforce unveiled its new AI platform, Agentforce, during the annual Dreamforce event on Sept. 17, showcasing a tool that allows businesses to quickly create and deploy autonomous AI agents. The platform, designed to enhance productivity in areas such as customer service, sales, and marketing, was demonstrated at the “Agentforce Launch Zone,” where attendees built their first AI agents live and on-site. Agentforce integrates with Slack and a large language model (LLM), offering businesses a simplified approach to developing AI agents without extensive coding. The platform is aimed at providing a low-code solution for organizations seeking to automate processes. Attendees at…

Circle has enabled support for local bank transfers for USD Coin (USDC) in Brazil and Mexico through their national payment systems, PIX and SPEI, respectively, according to a Sept. 17 press release. The integration will allow users to access USDC directly from Brazilian Reais (BRL) and Mexican Pesos (MXN) at competitive rates, reducing transaction times from days to minutes. Moreover, the move eliminates the need for international wire transfers and conversions to US dollars before accessing USDC, potentially saving businesses time and money. Circle aims to make USDC more attractive to companies operating in Latin America, where cross-border flows are…

Bitcoin surged almost 6% to above $61,000 before losing momentum as anticipation builds ahead of the Federal Reserve’s key interest rate decision on Sept. 18. This marks the end of a brief three-day dip, where Bitcoin slid from its recent two-week high before rebounding. The latest rally positions the world’s most valuable crypto back above a crucial psychological level. As of press time, BTC was trading at $60,935, up 5.5% over the past 24 hours, based on CryptoSlate data. Market Rebound The wider crypto market also showed signs of recovery, adding over $45 billion to its overall value, with Bitcoin…

The central bank’s Federal Open Market Committee (FOMC) will vote on whether or not to lower the base interest rate on Sept. 18 and recent shaky jobs reports have increased speculation that the Fed might pivot from its tightening stance to support employment. The current target rate probabilities indicate a 63% chance of dropping the rate at 475-500 basis points and a 37% chance of keeping it at 500-525 basis points. Chart showing the target rate probabilities for the Sep. 18 Federal Reserve FOMC meeting on Sep. 17, 2024 (Source: CME) This is a significant change in market sentiment over…

Binance has distanced itself from the ongoing struggles of the Indian crypto exchange WazirX in a Sept. 17 statement. According to Binance, WazirX co-founder Nischal Shetty made several misleading statements that suggested the exchange might be responsible for the losses suffered by Indian crypto trading platform users after a $235 million hack in July. Binance called the accusations “outrageously misleading,” clarifying that it has never “owned, controlled, or operated WazirX at any time, including before, during, or after the alleged hack.” Binance also stated: “Their attempts to shift responsibility is a disappointing deflection tactic, but it should not distract anyone…

Amid Ethereum ongoing price decline, holders have shown resilience with roughly 61% of them still in profit.

The number of Bitcoin held on exchanges significantly declined in September, dropping to levels last seen in mid-November 2018. Since the beginning of the month, Bitcoin exchange reserves have dropped from approximately 2.62 million BTC to 2.58 million BTC. This decline of nearly 38,000 BTC in just over two weeks follows a continued trend of Bitcoin flowing out of exchanges at an accelerated pace. Graph showing the total number of Bitcoin held on exchanges from Sep. 1 to Sep. 16, 2024 (Source: CryptoQuant) The yearly trend shows an even larger drop, with reserves having reduced by about 430,000 BTC since…

The TON Foundation and Curve Finance have announced a new collaboration to incubate a stable swap project on the TON blockchain, according to a Sept. 17 statement shared with CryptoSlate. This collaboration aims to make stablecoin trading more efficient and user-friendly on the TON network. Both organizations will select an independent team to spearhead the project through a transparent process that ensures community involvement. Curve Finance founder Michael Egorov will advise the development team. He’ll guide them on protocol mechanics and growth strategies. The chosen team will implement Curve Finance’s stable swap formula into their project. As part of the…

On Sept. 16, Bitcoin ETFs saw net positive flow of $12.8 million. This is a significant drop from the $263.2 million net inflow observed on Friday, Sept. 13. Such a sharp drop is due to five of the nine tracked spot ETFs having a zero net flow on Monday. Bitwise, Ark, Invesco, Valkyrie, and Wisdom Tree all saw zero flows on Sep. 16. Grayscale’s $20.8 million outflow also contributed to the drop. While BlackRock’s IBIT saw zero flows on Friday, it recovered with a $15.8 million inflow on Monday. Fidelity and VanEck saw modest inflows. Table showing the net flows…