Trump’s Post Sparked Excitement Among XRP Investors

U.S. President Donald Trump shared an article about Ripple on Truth Social. Although the post aimed to highlight positive developments in the business world during Trump’s presidency, it sparked significant excitement among XRP investors.

The article, published by CoinDesk in January, featured comments from Ripple CEO Brad Garlinghouse. Garlinghouse stated that following Trump’s election victory, business deals in the U.S. had increased, hiring had accelerated, and XRP had gained value.

Trump’s post received thousands of likes and retweets, with most comments coming from XRP investors, who shared their excitement.

Trump’s Post Didn’t Affect Ripple Price, DOGE SEC Investigation Developments

Following Trump’s post, no significant change was observed in Ripple’s price. The third-largest cryptocurrency by market cap continues to trade above $2.56.

Meanwhile, another development that could directly affect XRP has emerged. The DOGE organization, led by Elon Musk, initiated a lawsuit against Ripple and began investigating the Securities and Exchange Commission (SEC). DOGE requested that findings related to corruption and misconduct at the SEC be shared with them. This investigation is believed to potentially yield positive results for Ripple.

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The post Donald Trump Shared About XRP, Price Triggered! appeared first on Coin Engineer.

BTC has already approached its all-time high in 2021 and surpassed 64,000 dollars this week with strong entries. It has shown a 48% increase since the beginning of the year. However, indices like CoinDesk 20 Index, which is a broad market index, showed a 33% increase over the same period, indicating that the altcoin sector is lagging behind.

However, according to the Friday’s market report from K33 Research analysts, the situation could soon change. Based on the past, the analysts point out that altcoins might start catching up with BTC’s performance. Since the market bottom in November 2022, bitcoin’s market value has doubled compared to the total value of all cryptocurrencies excluding BTC and ether (ETH). This, according to analysts, resembles the period when altcoins began to catch up with BTC towards the end of 2020.

This week’s “massive” meme coin rally is seen as a “possible early sign” of the upcoming altcoin season. Dog-themed tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB) have gained 40-50% this week, while some newer entries like Pepe Coin (PEPE), Bonk (BONK), and Dogwifhat (WIF) have doubled in price during the same period.

However, according to the report, timing the altcoin season could be a “risky game”. With Bitcoin ETFs changing the crypto investment environment, it’s uncertain when the money flowing into bitcoin will seep into smaller assets. According to Swissblock analysts, a chart showing that altcoins’ performance against BTC has hit bottom levels could indicate that altcoin prices could start rising compared to BTC. But ETH passing the $3,500 price threshold could be a key signal to confirm the start of altcoin season.

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Here’s a breakdown of the key factors driving Filecoin (FIL)’s growth:

1. Glif’s Liquid Staker Platform:

• Glif raised $4.5 million in seed funding from Multicoin Capital and other VCs.
• The funding will support the development of tools for earning yield on FIL, Filecoin’s “gas” token used to pay for storing and retrieving data on the network.
• Glif’s liquid staking token, iFIL, allows users to stake their FIL tokens and earn rewards.
• Glif aims to become the largest DeFi protocol on Filecoin by the time of the network’s major tech upgrade, nearly a year from now.
• Glif is also planning a points program that will reward users based on the value of their iFIL tokens.

2. How Glif Works:

• Glif offers “liquid leasing,” which is roughly equivalent to “liquid staking” on Ethereum.
• Both processes leverage computer networks to provide returns for token holders.
• While Filecoin does not have a proof-of-stake consensus mechanism, storage providers earn block rewards based on how much FIL they collateralize.
• Glif aims to bridge the gap between FIL holders and storage providers, connecting those who want to earn yield with those who provide it.
• Currently, holders receive a derivative token called iFIL, which represents a receipt for their staked funds, and the value of their iFIL increases as interest payments accrue.

3. Glif’s Goals:

• Glif’s target is to reach 100 million FIL delivered to storage providers within a few years.
• Currently, there are 10 million tokens locked up from 1600 depositors.
• Part of the success of the growth strategy may depend on the protocol’s points program, which is expected to launch later this quarter.
• Glif will reward users with points, allowing them to earn more iFIL based on how much value their participation in yield generation brings to the ecosystem.

4. The Future of Filecoin:

• According to a blog post shared with CoinDesk, more iFIL will be equivalent to more points.
• The blog post states: “The GLIF Protocol is designed to be decentralized, allowing its stakeholders to govern and manage it.”
• A source stated that the “temporary plan” will initially determine how many tokens are airdropped to users based on points.

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The US supermarket chain Joe’s, has filed a lawsuit against the cryptocurrency project JOE for trademark infringement. According to Coindesk, the store claimed in the court that the DEX trying to benefit from their the popularity of their name.

The petition also objected to the logo featuring the image of “Trader Joe” wearing the red beret, which is the main color of Joe’s own brand. The plaintiff sued the platform and its co-founder Cheng Chieh Liu, accusing them of deliberately violating their name rights.

Trader Joe is a popular decentralized exchange that initially started operating on the Avalanche (AVAX) network and expanded to the BNB Chain, Arbitrum (ARB), and Ethereum (ETH). However, the value of JOE token is currently trading at $0.235, following the recent downturn.

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Despite tensions in the Middle East, Bitcoin and Ethereum resisted even as stock markets fell and oil prices increased. Over the past 24 hours, Bitcoin and Ethereum saw a slight decrease of 0.2%. XRP fell 1.3% while Cardano’s ADA rose 0.4%. CoinDesk Market Index (CMI) saw a 0.19% decrease, pointing to various tokens suffering losses.

The Israel-Hamas conflict entered its third day on Monday, following Hamas’s early missile attack on Israel on Saturday. Investors think this conflict could cause a supply disruption. The fear of the conflict spreading to neighboring countries like Iran seems to be influencing oil prices.

The chief investment officer of energy investment firm Bison Interests, Josh Young, told CNBC: “There could potentially be dramatic effects in the oil market if the US applies export sanctions to Iran,” He added, “It’s possible that we could see an increase of about $5 in oil for WTI.”

WTI Crude Oil increased 3.23% since Sunday, bringing its quarterly gains to 16%. There was also approximately a 3.5% increase in Brent Crude Oil.

Asia’s stock markets saw a decrease after Monday’s opening. In India, Sensex fell 0.69%, Shanghai Composite 0.44%, and Singapore Strait Times Index dropped 0.2%. The pre-market futures contracts in the US pointed to losses. Dow Jones Index lost 0.77% and the tech-heavy Nasdaq 100 Index experienced a 0.86% loss.

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The prosecutors claim that the founder of FTX, despite being a supposedly responsible leader, played a deep role in a long-term plan to defraud clients and investors, presenting a powerful argument against the fallen crypto emperor’s legal defense.

Allegations suggest whether SBF was unaware of the rot that occurred in FTX and the Alameda Research hedge fund.

Furthermore, Bankman-Fried faces a challenging battle in this striking case. Documents and allegations published by FTX’s current leadership could damage the reputation of FTX, which is managed by Enron’s bankruptcy leader John Jay Ray III.

Also, the poorly designed “apology tour” conducted shortly after FTX’s closure adversely affected Bankman-Fried’s public perception.

Renato Mariotti said on CoinDesk TV ” SBF will be a victim of his own success. ” Cohen & Gresser defense lawyers, on the other hand, state that they face a challenging situation in the courtroom.

Also, District Judge Lewis Kaplan is uncomfortable against Bankman-Fried’s high-paid lawyers. Besides,  they have rejected a large part of defense lawyer Chris Everdell’ s attempts at cross-examination.

Related: FTX Hacker Transferred Ether!

However, we are at the beginning of a hearing that could last six weeks. It remains unclear whether Bankman-Fried will testify. Mariotti and other lawyers believe this could at best be a gamble and disaster.

Gary Wang (SBF’ s friend) has confessed

FTX founder partner and Bankman-Fried’s longtime friend Gary Wang, referring to the “special privileges” in the Alameda trading shop at FTX, admits that Bankman-Fried has already committed fraud on the stand.

Additionally, Adam Yedidia, a former FTX developer, mentions he left the job in November 2022 after learning of a plan to “defraud” customers; this stands out as a strong point that has been struck from the records.

Let’s see how the process will work in the Sam Bankman-Fried case in the coming weeks?

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The post SBF’ s Case Ended (First week)! What Happened? appeared first on Coin Engineer.

The new marketing regulations, set to take effect on October 8, mandate that companies must register with the Financial Conduct Authority (FCA) in the UK. Bybit had previously declared its inability to comply with these regulations, citing its lack of inclusion in the FCA’s cryptocurrency assets. Consequently, the Bitcoin platform made the decision to withdraw from the UK.

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A Nexo spokesperson told Coindesk that the platform plans to gradually remove cashback payments for referral and partnership programs along with Nexo Exchange and Nexo Card transactions from October 8.

This decision led other companies, such as cryptocurrency exchange ByBit and Paypal, who intend to comply with the new regulations of the FCA, to recently announce that they will stop offering certain crypto services to UK customers.

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