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2022-10-01 16:37:59
Market situation
Last Friday, stocks went almost sideways. The Dow Jones Industrial Average fell 0.15%, the S&P 500 fell 0.08% and the Nasdaq gained 0.12%. Oil price increased slightly to 104 USD/barrel. Gold is flat at 1740 USD/ounce.
Bitcoin is still holding around $20,000. Altcoins fell slightly in the same trend.
The weekend market was not informative and quite quiet.
Solana Foundation Sued
A Solana investor has filed a class-action lawsuit against key parties in the Solana ecosystem for allegedly making misleading statements and profiting from the sale of unregistered SOL securities to small customers. odd.
Mark Young filed a lawsuit on July 1 against Solana Labs, the Solana Foundation, Solana CEO Anatoly Yakovenko, crypto investment firm Multicoin Capital and co-founder Kyle Samani, as well as the FalconX exchange. .
The reason why the investor group sued all of the above related parties is because they believe that the sued parties are linked together to manipulate the price of Solana, advertising for SOL even though it has technology problems. The lawsuit was filed in the Northern District of California, represented by law firms Roche Freedman and Schneider Wallace.
America is interested in stablecoins
The US Treasury Department has assigned President Joe Biden a cryptocurrency framework for US government agencies to work with their foreign counterparts. The framework is intended to encourage the development of digital assets while respecting “US core democratic values” and ensuring the stability and safety of the global financial system and the global financial system. international currency.
This announcement focuses on stablecoins, not stablecoins. The United States will also work with G20 member countries to identify potential risks to financial stability posed by digital assets, promote cryptocurrency regulations, and consult members on macroeconomic challenges.
Stable coins are very important for the crypto market. For the US, it is even more important because the stable currency is largely based on the US dollar. It also helps boost the USD in the crypto market so the US ban on stablecoins is very low. Government efforts to learn how to manage copper stability, which agency to regulate,…
Other information:
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The Sri Lankan government in April declared itself insolvent due to its inability to pay its $51 billion debt and is in talks with the International Monetary Fund (IMF) to secure a bailout. Sri Lanka’s president and prime minister agreed to resign on Saturday after the country’s most tumultuous day in months of political unrest, with protesters storming the homes of both officials and setting one of the buildings on fire. building in rage because of the country’s severe economic crisis.
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Nonfarm payrolls in June rose 372,000, topping estimates of 250,000. The unemployment rate remains at 3.6%. Average hourly earnings rose 5.1% from a year ago, slightly above estimates.
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Binance trading volume spiked after its global zero transaction fee policy was introduced Friday morning. This policy waives worldwide trading fees for 13 crypto pairs at Binance
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MT processed over 70% of all BTC transactions worldwide in early 2014, when the exchange suddenly shut down and claimed to have been hacked for hundreds of thousands of BTC. MT. Gox says it lost nearly 750K of its customers’ bitcoins and about 100K of its own, totaling about 7% of all BTC at the time and worth ~$473 million near the time of filing (~$18 billion at price). now).
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In February 2014, Mt. Gox has suspended trading, shut down its website and services, and filed for bankruptcy protection from creditors. In April 2014, the company started liquidation procedures.
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Although 200K BTC has been earned since then, the reason disappears — theft, fraud? weak and poor managerment? or a combination of these?…still unclear. Victims have been waiting for a partial return of their BTC since 2014. This process has taken so long due to legal proceedings in Japan.
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