The Block
Quick Take The central bank said it examined the Dallas bank in May 2023 and found those shortfalls in its governance and in the oversight by its board of directors and senior management. This marks the second time in a month that the Federal Reserve has issued enforcement actions against a crypto-adjacent bank.
More than 1 million memecoins have been created using the popular launchpad Pump.fun, which launched in January.
Quick Take The SEC said it was delaying its decision to November 21 for the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, in a filing posted on Tuesday. A decision to approve or disapprove the ETF was previously punted in May.
Quick Take Outlier Ventures said the four-year cycle is dead after bitcoin’s “worst price performance following any halving to date.” Uniswap Labs settled with the U.S. Commodity Futures Trading Commission for $175,000 on charges related to derivatives trading. Former Mt. Gox CEO Mark Karpeles’ new crypto exchange is set to launch this month with a focus on “transparency.” The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take Uniswap Labs agreed to pay $175,000 as part of its settlement with the CFTC. Uniswap Labs, the developer of the decentralized exchange Uniswap, has also previously received a Wells Notice from the SEC.
Quick Take The Donald Trump-connected crypto project World Liberty Financial said it is working with “top security experts” like “Zokyo, Fuzzland, PeckShield, BlockSecTeam, and more.” “Our code has been thoroughly reviewed by these industry leaders,” the project said in an announcement. World Liberty Financial also said driving mass adoption of stablecoins is a priority.
Quick Take Decentralized domain naming service Unstoppable Domains is expanding onto the Ethereum Layer 2 Base built by Coinbase. The move represents Unstoppable Domains’ support of Optimistic roll-ups, the cryptographic standard used by Base.
Ethereum futures trading volumes on the Chicago Mercantile Exchange (CME) dropped to a 9-month low in August.The downturn reflects a decline in institutional interest in Ethereum-related financial products, analysts said.
Quick Take Needham initiated a ‘buy’ rating on the stocks of bitcoin miners Core Scientific (ticker: CORZ) and TeraWulf (WULF) and a ‘hold’ rating on Iris Energy (IREN). Analyst John Todaro said Core Scientific has the first-mover advantage in the HPC transition and predicts it will be first to market with a 100MW+ site.
Major cryptocurrencies, like bitcoin and ether, are set for significant near-term price fluctuations, analysts said.Investors could gain by exploiting increased short-term price volatility, while also considering seasonal trends that suggest a bullish fourth quarter, analysts added.
