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Trump’s cryptocurrency platform stumbles on launch day, selling only 3% of tokens.
Trump, who announced the launch alongside his sons and other entrepreneurs in mid-September, put 20 billion digital tokens on the market, priced at 1.5 cents each, amounting to a potential $300 million. However, by Tuesday evening, just three percent of the tokens had found buyers.
*Interestingly, Trump previously called cryptocurrency a “scam” during his presidency.
Trump, who announced the launch alongside his sons and other entrepreneurs in mid-September, put 20 billion digital tokens on the market, priced at 1.5 cents each, amounting to a potential $300 million. However, by Tuesday evening, just three percent of the tokens had found buyers.
*Interestingly, Trump previously called cryptocurrency a “scam” during his presidency.
Global crypto ownership reaches 562 Million: 6.8% of world population now own and use digital currencies.
“Asia is leading this surge, with crypto ownership rising from 268.2 million to 326.8 million, a 21.8% increase. This growth highlights Asia’s significant role in shaping the digital currency landscape,” the report states. “North America follows closely, with ownership climbing from 52.1 million to 72.2 million, a 38.6% increase.”
The report further highlights that cryptocurrency ownership in South America surged from 25.5 million to 55.2 million, a 116.5% increase. Europe also saw significant growth, with numbers rising from 30.7 million to 49.2 million, a 60.3% increase. Africa experienced a moderate rise from 40.1 million to 43.5 million, an 8.5% increase. In Oceania, interest more than doubled, growing from 1.4 million to 3.0 million, a 114.3% increase.
“Asia is leading this surge, with crypto ownership rising from 268.2 million to 326.8 million, a 21.8% increase. This growth highlights Asia’s significant role in shaping the digital currency landscape,” the report states. “North America follows closely, with ownership climbing from 52.1 million to 72.2 million, a 38.6% increase.”
The report further highlights that cryptocurrency ownership in South America surged from 25.5 million to 55.2 million, a 116.5% increase. Europe also saw significant growth, with numbers rising from 30.7 million to 49.2 million, a 60.3% increase. Africa experienced a moderate rise from 40.1 million to 43.5 million, an 8.5% increase. In Oceania, interest more than doubled, growing from 1.4 million to 3.0 million, a 114.3% increase.
Cryptocurrency regulations are changing across the globe.
The International Organization of Securities Commissions has laid out its 18 recommendations for global rules on managing crypto and digital assets.
It sees a need for greater consistency on the regulation and oversight of crypto assets activities given the cross-border nature of the markets, which creates “significant risk of harm” for investors.
“A global approach is needed to maximize the advantages from the underlying technology and to manage the risks,” the paper says. “However, given the different stages of market maturity, the development of regional hubs and the varying capacity of regulators, it is prudent to holistically focus also on the important role that international organizations and national/regional regulators as well as industry actors can play in ensuring responsible regulatory evolution.”
The International Organization of Securities Commissions has laid out its 18 recommendations for global rules on managing crypto and digital assets.
It sees a need for greater consistency on the regulation and oversight of crypto assets activities given the cross-border nature of the markets, which creates “significant risk of harm” for investors.
“A global approach is needed to maximize the advantages from the underlying technology and to manage the risks,” the paper says. “However, given the different stages of market maturity, the development of regional hubs and the varying capacity of regulators, it is prudent to holistically focus also on the important role that international organizations and national/regional regulators as well as industry actors can play in ensuring responsible regulatory evolution.”
The 11 United States-based spot Bitcoin exchange-traded funds (ETFs) have had combined net outflows of $1.2 billion in eight days.
On Sept. 9, Bloomberg data showed investors withdrew around $1.2 billion from the 11 listed spot Bitcoin ETFs between Aug. 30 and Sept. 6 — their longest run of outflows since launching on Jan. 10.
The outflows come as the Bitcoin price struggled in the first week of September, going from a high of $64,668 on Aug. 26 to a low of $53,491 on Sept. 7 — a 17.28% drop in just two weeks. However, analysts say that BTC has historically shown poor performance in September.
On Sept. 9, Bloomberg data showed investors withdrew around $1.2 billion from the 11 listed spot Bitcoin ETFs between Aug. 30 and Sept. 6 — their longest run of outflows since launching on Jan. 10.
The outflows come as the Bitcoin price struggled in the first week of September, going from a high of $64,668 on Aug. 26 to a low of $53,491 on Sept. 7 — a 17.28% drop in just two weeks. However, analysts say that BTC has historically shown poor performance in September.
The United States Securities and Exchange Commission has imposed nearly $4.7 billion worth of enforcement actions against crypto firms this year — jumping over 3,000% from 2023.
The regulator’s 11 enforcement actions in 2024 have seen it net a 3,018% increase from its $150.3 million worth of fines last year, despite it laying 19 fewer actions against crypto firms.
The SEC’s record-setting year was boosted by a massive $4.47 billion settlement with Terraform Labs and ex-boss Do Kwon in June.
“This trend indicates a strategic shift by the SEC toward fewer but larger fines, with a focus on making high-impact enforcement actions that set precedents for the entire industry,” the report said.
The regulator’s 11 enforcement actions in 2024 have seen it net a 3,018% increase from its $150.3 million worth of fines last year, despite it laying 19 fewer actions against crypto firms.
The SEC’s record-setting year was boosted by a massive $4.47 billion settlement with Terraform Labs and ex-boss Do Kwon in June.
“This trend indicates a strategic shift by the SEC toward fewer but larger fines, with a focus on making high-impact enforcement actions that set precedents for the entire industry,” the report said.
Hello everyone, how are you?
The capitalization of all Altcoins is approximately $1.3 trillion. The value of Stablecoin based on the current market price is $162.1 billion, which corresponds to 5.82% of the total capitalization of cryptocurrencies
Cryptocurrency market grows: capitalization Increased by 60% in Q1
The market capitalization at the time of writing was $2.8 trillion, up 144% from a year earlier. Bitcoin (BTC) holds the largest share — $1.4 trillion, or 50%. Ethereum (ETH) is in second place. Its share in capitalization is $457.65 billion (16.5%). The top five also includes Binance Coin (BNB) — $86.3 billion, Solana (SOL) — $78 billion, and Ripple (XRP) — $28.4 billion
The market capitalization at the time of writing was $2.8 trillion, up 144% from a year earlier. Bitcoin (BTC) holds the largest share — $1.4 trillion, or 50%. Ethereum (ETH) is in second place. Its share in capitalization is $457.65 billion (16.5%). The top five also includes Binance Coin (BNB) — $86.3 billion, Solana (SOL) — $78 billion, and Ripple (XRP) — $28.4 billion
The price of BTC has remained stuck around the $58,000 range. Although it managed to go past the $63,000 level in the middle of August, the extended consolidation period seems to take over this brief rally. There has also been selling pressure on the coin in the recent past, and even Bitcoin-based investment products have been struggling
Bitcoin is struggling during this time. It is currently trading at $58,420 after a minor 0.77% increase in the last 24 hours. It has dipped 9.41% over the past month as it failed to clear the next resistance levels. Bulls have been struggling to overcome the market as bears are controlling the narrative
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