20-09-2024

Author

Fernando Fierro
September 20, 2024

Howdy folks,

📉💰 The SEC has intensified its enforcement actions, imposing a record-setting $4.68 billion in fines against crypto firms in 2024, largely due to a single fine on Terraform Labs. This unprecedented sum surpasses the fines collected since 2013, marking a notable increase in regulatory scrutiny under Chair Gary Gensler, targeting major industry players.

Legislative opposition and potential industry fallout raise questions about the SEC’s future regulatory path and its impact on crypto innovation.

In other news:

🚨🔐 BingX suffered a major hack, losing over $43 million across 360 altcoins from its hot wallet. The platform quickly initiated emergency protocols and suspended withdrawals, promising to compensate users with full capital.

While details are still emerging, BingX’s product chief, Vivien Lin, assured users that their assets remain safe and that the company is fortifying its security.

🚀💰 Howard Winklevoss, father of Gemini co-founders, has generously donated $4 million in Bitcoin to Grove City College, crediting the institution for instilling the values of Austrian economics and free markets that he holds dear. During his time at the college, Winklevoss developed a keen understanding of sound money principles, which he sees embodied in Bitcoin.

While this donation supports the notion of teaching individual liberty and free market principles, concerns about Bitcoin's fixed supply impacting economic growth continue to arise.

🍔💰 Donald Trump has publicly embraced crypto in his campaign to reclaim the White House, making headlines by buying burgers with Bitcoin. This move aligns with the launch of World Liberty Financial, a new DeFi platform by the Trump family aimed at revolutionizing traditional banking systems.

Despite his previous criticism of cryptocurrencies, Trump’s recent actions have sparked both praise and skepticism among onlookers.

DailyCoin Daily Meme

SEC Seeks to Delay Coinbase Case Discovery Until After the 2024 Election, Sparking Political Controversy

SEC seeks delay in Coinbase case, raising political speculation. Crypto world waits for the outcome. Visit DailyCoin for the latest updates.

Solana Mobile Unveils Web3 Phone Seeker: What We Know

Solana Mobile unveils its new model, Seeker. Previously dubbed Saga Chapter Two, Seeker gains new Web3 features.

"We Will Not Be Deterred By Someone Labeling a Product as 'Decentralized':" SEC Puts DeFi on Notice

The SEC's claims about the tokens offered by the protocol are likely to give any decentralized application pause for thought.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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