Crypto Box Shilling - Memecoin

2023-11-13 18:19:19 JPMorgan Adds Programmable Payments to JPM Coin

Users of JPMorgan's (JPM) blockchain-based settlement token, JPM Coin, can now program their accounts to make payments automatically according to preset conditions. The financial giant is allowing clients to plug in conditions for funds to be moved to cover overdue payments or margin calls, according to an email on Friday. Previously, they had to set standing orders for payments to take place at a particular time, whereas now they can program them to kick in when the relevant criteria are met.

JPMorgan introduced JPM Coin in 2019 to enable institutional clients to make wholesale payments on a blockchain. Last month it reached the milestone of handling $1 billion of transactions daily, though this remains a trivial figure compared with the $10 trillion the bank moves every day in total. "This new feature helps clients to respond dynamically to events, which is ever more important as 24x7 payment infrastructure proliferates, and responding to volatility becomes vital," the bank said. Previously clients would need to set standing orders for payments to take place at a particular time; now they can program them to kick in when the relevant criteria are met. whereas now they can program them to kick in when the relevant criteria are met. Open / Comment

2023-11-10 03:38:39 Arbitrum DAO voting on $24 million 'backfund' for projects that missed out on grants

The Arbitrum DAO is currently voting on a proposal that could inject 21.4 million ARB tokens ($24 million) into projects that were approved but fell short of the 50 million ARB total funding cut-off in last month’s first round of grants for its Short-Term Incentive Program. Dubbed a one-time “backfund,” it outlines plans to increase the total STIP budget to 71.4 million ARB, funding a further 26 protocols in addition to the 29 initially successful projects.

By nearly doubling the projects receiving support, the proposal, prepared by the Arbitrum STIP Inclusion Working Group following a series of community calls and workshops, argues it represents a critical opportunity to “support diverse, emerging builders” and “avoid potentially irreversible harm of crushing small, high potential builders.” The majority of temperature check voters, some 90.3% are currently in favor of the proposal, with 8.3% against and 1.4% abstaining. Voting began on Tuesday and is set to conclude on Nov. 14. If passed, the program is designed to maintain the timeline and process of STIP 1, approving funding of an additional 21.4M ARB through the end of Jan. 31, 2024. Open / Comment

2023-11-08 19:06:03 Not a week goes by without interesting news about the Sundae project.

After a post by one of the founders of the Odyssey project regarding Bitget exchange opening Sundae deposits was published, Elon Musk made a post on his X network:

"Ice cream is one of the great joys of life."

It's hard not to agree with Elon. In just two months, the Sundae token's value has increased from $0.25 to $4, making its many followers 16 times richer.

We'd like to remind you – this is at least the third mention by Musk of some "ice cream." The first mention miraculously coincided with the listing on MEXC.

So, what is Sundae? What's the secret behind the rapid token's value growth during such a depressive period of bear market rally?

The secret of this growth partly lies in rumors that Sundae senators have established an accumulation fund where about 30% of the token's sales profit goes.

The fund plans to invest in various sources of income, such as trust funds, media, online schools, IT companies, digital agencies, and even immortal canvases by world-famous authors.

The project has all chances to become revolutionary, as evidenced by its listing on major exchanges like MEXC and Bitget, the participation of bloggers with a million-strong audience and funds that previously invested in the current market "monsters."

One of the Odyssey co-founders explains: "Sundae means 'ice cream dessert.' Yesterday, the token cost only $0.25, less than ice cream. Today it's already $4, and tomorrow it could be worth thousands. Can you buy your secure future at the price of an ice cream? A foolish question, of course, you can!" Open / Comment

2023-11-07 21:50:37 US Supreme Court agrees to take up Coinbase case involving arbitration jurisdiction

The U.S. Supreme Court announced on Friday that it would hear a case involving Coinbase and whether a dispute involving a Dogecoin sweepstakes can be settled through arbitration. The move comes almost a year after Judge Sallie Kim, for the U.S. District Court for the Northern District of California, denied Coinbase's motion to take the dispute to arbitration, according to an opinion from December 2022. Arbitration can be favored by companies because it can cost less and be resolved more quickly.

The case involves two different contracts, one that would lead to arbitration and the other that would be required to be figured out in a California court. David Suski, a Coinbase user among others, opted into Coinbase's Dogecoin Sweepstakes in June 2021 and agreed to a user agreement, which included an arbitration provision. Suski then later opted into a separate "officials rules" for the sweepstakes, which included a clause that California courts would have "exclusive jurisdiction over any controversies regarding the sweepstakes," according to Kim's opinion. Coinbase argued that the user agreement should have superseded the official rules, but the California judge ultimately disagreed. Open / Comment

2023-11-04 02:42:21 Binance Ruble Payment Partnership Completely Terminates Amid Regulatory Challenge

Binance, one of the world’s leading cryptocurrency exchanges, is set to terminate its partnership with payment processor Advcash, also known as Advance Cash. This decision comes as part of Binance’s ongoing efforts to navigate regulatory challenges and increase compliance in its operations. The partnership, established in 2019, allowed Binance customers to deposit and withdraw Russian rubles, even from sanctioned Russian banks, through Advcash. However, recent developments suggest that Binance is now distancing itself from this arrangement.

According to the Wall Street Journal, Binance informed a client of its decision through an email, though Advcash claims it has not received any official communication regarding the termination of the Binance ruble payment partnership. This move is in line with Binance’s strategy to discontinue associations with payment processors across Europe and the Americas amidst an investigation by the U.S. Department of Justice. The investigation centers on concerns related to money laundering, sanction evasions, and alleged fraud. Despite facing substantial regulatory hurdles and compliance challenges due to Western sanctions against Russia, Binance continued to serve Russian users until August 2023. The departure from the Russian market also saw top Russian executives leave the company in early September. Open / Comment

2023-11-03 00:59:36 SafeMoon fraud charges by SEC and Unregistered Crypto Offering

The charges stem from their involvement in an extensive fraudulent scheme related to the unregistered sale of the cryptocurrency security known as SafeMoon. SafeMoon fraud charges have been filed by the SEC against SafeMoon LLC, its creator Kyle Nagy, and its executives John Karony and Thomas Smith for the unregistered sale of the SafeMoon cryptocurrency. The SEC alleges that they promised to increase the token’s price but instead caused a market capitalization drop.

David Hirsch of the SEC emphasized that unregistered offerings like SafeMoon lack necessary disclosures and accountability, making them attractive to scammers. The SEC’s complaint alleges that Nagy assured investors that funds in SafeMoon’s liquidity pool were secure and inaccessible, but significant portions were never locked and were misused for personal expenses. The SEC warns investors to be cautious as fraudsters often fail to deliver on promised profits. SafeMoon experienced a rapid price increase of over 55,000 percent in 2021, but the price fell by nearly 50 percent when it was revealed that the liquidity pool was not secure. Following this, Karony and Smith allegedly manipulated the market using misappropriated assets. Open / Comment

2023-10-31 14:57:06 CME on the Cusp of Replacing Binance as Top Bitcoin Futures Exchange

The regulated Chicago Mercantile Exchange (CME) is climbing ranks on the list of largest bitcoin (BTC) futures and perpetual futures exchanges by open interest in a move reminiscent of the early stages of the 2020-21 bull run. With a notional open interest (OI) of $3.54 billion, CME is now the second-largest bitcoin futures exchange, up from the fourth position seen weeks ago, according to Coinglass. Notional open interest refers to the U.S. dollar value locked in the number of active or open contracts.

Keeping the top spot is the offshore unregulated exchange Binance, with an open interest of $3.83 billion. That’s 8% higher than the CME. CME’s standard bitcoin futures contract is equivalent to 5 BTC, while the micro contract is sized at one-tenth of 1 BTC. The standard ether futures have a contract size of 50 ETH, while micro futures are equivalent to one-tenth of 1 ETH. Most open interest in offshore exchanges is concentrated in perpetual futures rather than traditional futures contracts. Perpetuals are futures with no expiry and use the funding rate mechanism to keep perpetuals in sync with the spot price. Per some observers, CME’s ascent is a sign of an institutional-led rally. Bitcoin has risen 27% this month amid lingering macroeconomic uncertainty and spot ETF optimism. Open / Comment

2023-10-28 02:25:35 gave a prediction about the rate of Cardano

Renowned cryptoanalyst and founder of Into The Cryptoverse Benjamin Cowan shared his opinion on the price behavior of altcoins relative to bitcoin (BTC). He focused on the Cardano digital coin (ADA). According to him, this virtual asset has good prospects.

According to Cowan's analysis, ADA, which has already lost 78.8% of its price high, will continue to fall to the lower boundary of dynamic support against the BTC rate. According to him, that means a future value of 800 SATS per ADA. This level, according to Cowan's prediction, was referred to 2018. It was then retested in the third quarter of 2019. According to the dynamics, the ADA value should return to this value.

Nevertheless, the analyst assured: finding a bottom against BTC "would be a big deal" for Cardano. He noted that after a rebound from this value, the cryptocurrency rate will go up. At the same time, the expert added that "the final support may be at the level of 400 SATS per ADA. Open / Comment

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2023-10-26 13:33:13 Former FTX CEO Sam Bankman-Fried will take the stand on Thursday

Sam Bankman-Fried, the disgraced former CEO of the FTX crypto exchange, is expected to take the stand on Thursday, defense lawyers said. During a teleconference on Wednesday, Bankman-Fried's lawyer Mark Cohen confirmed his client will testify and that his testimony will probably take the entire day on Thursday, before going into cross examination on Friday. Analysts had seemed split on whether he would and have said that if the former billionaire does decide to testify, it would take a few days.

All of the seven expert witnesses Bankman-Fried proposed to call, for example, were denied by Judge Kaplan, though Kaplan left open the door for him to call on four as rebuttals to government witnesses. Many of Bankman-Fried's motions in limine, which concerned which arguments and which evidence could be offered at trial, have also been denied by the judge. The former FTX CEO faces decades in prison if he is convicted on a slew of charges, including fraud, over allegations that he and other FTX executives used billions of customer assets to make their own failed investments. FTX filed for bankruptcy protection late last year. Bankman-Fried's defense has seemingly struggled before the trial to get certain witnesses on the stand. Open / Comment