Crypto Miami

2024-01-07 17:30:27 Australia’s Security Regulator Faces Scrutiny Over Failure to Warn Citizens of the HyperVerse Crypto Scheme

Australia’s Assistant Treasurer Stephen Jones has expressed the intention to look into reasons why the country’s securities regulator failed to warn citizens of the potential danger posed by the HyperVerse crypto scheme. A recent Guardian report says Jones would question the Australian Securities Investment Commission (ASIC) why it didn’t release a warning for consumers like other global regulators.

The scheme which led to massive global losses somehow escaped the attention of Australian regulators despite foreign authorities calling it a scam and flagging its operations as a suspected pyramid scheme, the report noted. New Zealand, Hungary, Germany, Canada, and the United Kingdom have previously issued warnings on the HyperVerse scheme as far back as 2021 but the local regulators failed to warn users.

Jones stated that the scheme sold worthless investment products to the public and a lot of people got caught up on it increasing user losses.

“This type of scheme works by convincing innocent people to invest their money into a product that might not exist, with the only source of income being money from new investors.”

He added that he doesn’t know why warnings were not issued but in the ordinary course of things, these sorts of operations are meant to be flagged. Open / Comment

2024-01-04 17:31:02 EBA to Extend Stress Testing to Assess Impact of Strains in Non-Bank Financial Institutions

The European Banking Authority (EBA) is set to implement additional measures to evaluate the potential impact of strains in non-bank financial institutions (NBFIs), including those in the cryptocurrency sector, on traditional banks. This initiative is driven by concerns over contagion and aims to enhance the understanding of interconnections between banks and other financial entities.

As a pivotal entity ensuring the orderly functioning and integrity of financial markets in the European Union (EU), the EBA conducts biennial stress tests on European lenders. These tests assess the balance sheet exposures of banks to non-banks and contribute to the overall evaluation of systemic risk in the EU financial system. The EU-wide stress tests are conducted in collaboration with the European Systemic Risk Board (ESRB) and the Financial Stability Board.

The move to include assessments of non-bank financial institutions, including those in the cryptocurrency space, is a response to the evolving financial landscape and the need to comprehensively understand potential risks and linkages within the broader financial system. The EBA’s stress tests serve as a supervisory tool, providing insights into the resilience of financial institutions to adverse market developments and informing supervisory decisions.

In 2023, the EBA conducted stress tests involving 70 banks from 16 EU and European Economic Area (EEA) countries, representing a significant portion of EU banks’ total assets. The transparency and detailed results of these stress tests contribute to the Pillar 2 assessment of banks and aid in the overall risk assessment of the EU financial system. Open / Comment

2024-01-01 18:31:08 SEC Looks to Enhance Control by Trimming Intermediaries in Spot Bitcoin ETFs

Bloomberg analyst Eric Balchunas has shared insights on the latest requirements imposed by the U.S. Securities and Exchange Commission (SEC) to regulate the involvement of third parties in Spot Bitcoin ETFs through a “cash-create” redemption model.

The SEC has set a deadline of December 29, 2023, for spot Bitcoin exchange-traded fund (ETF) applicants to submit the final S-1 amendment.

Other deadline requirements include issuers entering into agreements with Authorized Participants (APs) and specifying the cash-create or in-kind redemption models that will be employed.

In a thread post on X, Balchunas highlighted the significance of the S-1 Amendment deadline for ETFs and the challenges tied to identifying APs for approval.

He pointed out that the SEC not only demands APs to be named in the documents but also to serve as underwriters, guaranteeing the issuance of new ETF shares to the market.

This additional requirement raises concerns among potential APs, given the novelty of the asset class and potential legal risks. Open / Comment

2023-12-31 15:01:19 1000 USDT Prize Pool Alert!

Crypto Fans Assemble! We're cranking up the thrill as we rocket towards 2024, and your seat is reserved for the ride of a lifetime!

Join our 1,000 USDT Prize Pool Giveaway now! To enter, simply follow us and retweet our latest post. Let the celebration begin!

Engage here: https://viralkit.io/f/gwpjfggy

Learn more about us:

Visit our Website: https://www.2024.cash
Follow on Twitter: @2024_cash
Join our Telegram Community: https://t.me/BeRich2024cash
Let's send waves across the crypto sea and make this New Year one for the history books!

#2024cash #happynewyear #NewYearNewCoin #NewYear2024 Open / Comment

2023-12-29 20:31:02 Perpetuals Trading Protocol Levana Suffers Oracle Attack, Loses $1.14 Million

Perpetuals trading protocol Levana has fallen victim to an oracle attack, resulting in a loss of $1.14 million. According to a report from the Levana team, the exploitation happened between December 13th and December 26th, with the assailants siphoning off 10% of Levana’s liquidity pools.

The perpetrators exploited a congestion attack on the Osmosis chain, disrupting the capability of Levana users to engage with the markets.

This was further exacerbated by a flaw in Osmosis’ fee market code and the presence of “price staleness” in Levana’s integration with the Pyth oracle. These vulnerabilities enabled the attackers to manipulate prices and deplete the pools.

“A bug in the Osmosis fee market code meant that during times of congestion, the provided gas price was generally insufficient for making trades or performing ongoing bot maintenance activities,” Levana wrote.

The team noted that there was no known vulnerability in the Pyth oracle despite the attack.

“Though the Pyth oracle is a key part of the attack, there is no known vulnerability in the Pyth oracle,” the team wrote. “It behaved exactly as expected.” Open / Comment

2023-12-29 16:00:10 Elevate Your Crypto Journey with SALTZ.io - The Revolution is NOW!

Unleash the Power of the World's FIRST 41-Million-Coin with Minimum Selling Price

Join the SALTZ Community on Telegram NOW: https://t.me/+cebObCbGTSY1ZTg1

Why SALTZ?

LOW-RISK, HIGH-REWARD: Enjoy the assurance of a MINIMUM SELLING PRICE in a sea of crypto uncertainty!
Exclusive TELEGRAM BOT: Trade, stake, and claim SALTZ effortlessly with our user-friendly bot on Telegram.
Sprinkler System: Multiply your rewards with the magic of our 5-stage referral system!
Yard Staking: Hold SALTZ, earn rewards - it's that simple!

THE WHALE TAX!

Progressive tax to maintain balance and enhance profit potential for ALL investors!
Tiered taxation from 15% to 55% for holdings exceeding 10% - A fair play for all!

SALTZ - A Pioneer with a BURNING Mechanism!
10% tax on Buy/Sell transactions!
36.5% vanishes - reducing coin supply!
11.5% waters the Sprinkler pool!
31% fuels staking rewards!
21% brightens Project Marketing efforts!

Join SALTZ NOW: https://t.me/Saltz_bot

LP Burned - Proof
Contract Renounced
No Team Token
100% supply locked initially in the LP

Don't Miss Out on the Next Big Thing - SALTZ.IO, Where Innovation Meets Assurance! Open / Comment

2023-12-28 18:00:09 Ready To Fight is giving away 1,000,000 tokens!

Ready To Fight is a cutting-edge platform in the boxing world, co-founded by Oleksandr Usyk. Backed by the WBC, this project brings together the sport of boxing with the Web3 universe.

RTF is currently hosting a community contest — offering everyone a chance to win a share of 1,000,000 RTF tokens! To claim a prize, participants need to be active on social media and in the mobile app. No costs involved, just your energy and passion for boxing!

The total prize fund is 1,000,000 RTF tokens.

Contest duration: from December 27, 2023, to February 27, 2024!

Tasks are already available on Zealy and will soon be accessible on the RTF App. They will be updated regularly, so seize the opportunity to complete as many tasks as possible during the contest period!

Don't miss this unique opportunity to become a part of the RTF revolution and win valuable rewards! Open / Comment

2023-12-26 17:31:00 SEC “Deeply Regrets” Handling of Debt Box Case

The United States Securities and Exchange Commision (SEC) has apologized for its handling of a lawsuit against decentralized blockchain project, Debt Box, according to new court documents.

“The Commission takes this Court’s concerns seriously and deeply regrets these errors,” a court filing from December 21st reads. “Agency officials are taking steps to ensure those errors are not repeated in this action or other proceedings.”

The SEC originally filed a lawsuit against Debt Box in July alleging the digital currency operation defrauded thousands of investors out of nearly $50 million through the sale of unregistered securities.

Previously, the federal watchdog was granted a temporary restraining order against Debt Box after claiming the organization was dodging legal actions by moving assets abroad. However, the order was rescinded in October after the court found the SEC had insufficient evidence to back up its claims. Open / Comment

2023-12-25 15:00:06 xChief Grand "Gold Whale" Contest

"Gold Whale" – is an every-month contest that allows to combine the usual trading on your account with the competition for a real money prize.


Contest features:

Prize fund $5000
20 prize winners
Any trading strategies and robots/EA allowed
Prize money can be withdrawn immediately and without limit
Participation in the contest can be stopped any time with the funds saved


Winners get the following prize:

st place = $1000
nd place = $750
rd place = $500
from th to th place = $250
from th to th place = $100

In fact, each participant can withdraw both the deposit and the profit earned, as well as the prize amount.

24/7 Support:
https://t.me/forexchief_bot

Contest registration link:
https://pro.cxchief.com/ab27df

English xChief community:
https://t.me/xChief_English Open / Comment

2023-12-23 20:30:38 New Argentina President Legalizes All Foreign Currencies For Payment

Argentina’s newly elected leader, Javier Miliei, has struck down forced legal tender laws forcing Argentinians to settle debt obligations in specific currencies, enabling use of alternatives like USD and Bitcoin (BTC).

The rule comes attached to a sweeping executive order repealing over 300 laws, aiming to deregulate and rebuild the Argentinian economy. It also fuliflls one of Miliei’s chief campaign promise to enable local currency competition and help “dollarize” the nation.

“It is necessary to respect the will of citizens to agree on the forms of cancellation of their obligations to give sums of money, without distinction of the legal tender or not of the currency that is determined,” read a translated version of the decree on Wednesday.

The nation’s minister of foreign affairs clarified on Thursday that contracts can now be “agreed in Bitcoin,” alongside virtually any other crypto or physical good including “kilos of steer or liters of milk.”

Though not explicitly targeted towards crypto, industry influencers view the bill as a step along the path toward Bitcoin (BTC) adoption, a currency proponents claim can help members of unstable economies escape hyperinflation. Open / Comment