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MoneyGram Now Enables Users To Buy, Sell, And Hold Bitcoin, Ethereum via Mobile app

Albert Brown
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MoneyGram Now Enables Users To Buy, Sell, And Hold Bitcoin, Ethereum via Mobile app

MoneyGram Launches In-App Bitcoin and Ethereum Investment Feature.



MoneyGram has introduced a new crypto feature that will allow customers to buy, sell and hold Bitcoin, Ethereum and Litecoin on its mobile application.

The newly-introduced service will provide exposure to several mainstream cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH), allowing users to invest in these assets. The app allows users to trade cryptocurrency, send money, pay bills, etc.

The service will be available to all U.S. states (except Hawaii, Idaho, and New York) and the District of Columbia at launch. Users can also use a debit card to add funds to purchase Bitcoin, Ethereum, or Litecoin.

MoneyGram has been one of the top leading financial services firms fully embracing cryptocurrencies, and this latest in-app feature is only one of the company’s numerous crypto-focused developments in recent times.

“Cryptocurrencies are additive to everything we’re doing at MoneyGram… MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option,” Chairman and CEO at MoneyGram, Alex Holmes remarked, speaking on the development.

Holmes further highlighted the company’s commitment to ensuring that customers get the needed exposure to the burgeoning industry of cryptocurrencies. Holmes noted that this new service would easily allow users to invest in cryptocurrencies on the company’s mobile application.

MoneyGram partnered with American-licensed crypto cash exchange Coinme last year to offer BTC to customers through MoneyGram retail points. Coinme is now also responsible for powering this new MoneyGram in-app crypto investment feature.

MoneyGram has recently been actively involved in the cryptocurrency scene, seeking to satiate its crypto-curious customers with adequate offerings. In June, the leading P2P money transfer firm announced the launch of its innovative crypto-to-cash offering powered by Stellar.

Founded in 1980, MoneyGram remains committed to providing users with easy-to-access money transfer services as it serves over 10 million customers globally. With the growing interest in cryptocurrencies, MoneyGram’s mission has grown to accommodate the asset class.

Recall that MoneyGram and the Stellar Development Foundation formed a partnership with Techstars to foster trailblazing services in blockchain-powered transnational settlements, as The Crypto Basic reported in March.

Nissan Dives Into Crypto, Files 5 Trademark Applications

Albert Brown
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Nissan Dives Into Crypto, Files 5 Trademark Applications

Nissan Looking to Delve into the NFT Space, as It Files 5 Unique Trademark Applications.



Nissan has filed five trademark applications revealing plans to provide NFT-focused offerings.

The top Japanese automobile manufacturer filed trademark applications for some of its prominent car models, including SKYLINE, Z, and GTR. The applications were filed with the United States Patent and Trademark Office (USPTO) on October 27.

USPTO-licensed trademark attorney Mike Kondoudis revealed that Nissan’s trademark applications seek to introduce the Japanese automaker to the Web3, NFT and Metaverse space. The five applications have serial numbers 97650321, 97650317, 97650308, 97650303, and 97650300.

“Nissan has filed five trademark applications for some of its most iconic car models like GTR, SKYLINE, and Z, claiming plans for

  •  NFTs + NFT-backed media
  •  Online NFT marketplaces + Digital wallets
  •  NFT minting, trading, storing software,”

   Kondoudis noted in a tweet Tuesday.

 

Per information, the trademarks will be utilized by Nissan in several areas relating to NFTs. Nissan plans to introduce offerings in the form of downloadable media files such as pictures, videos, and suchlike; such files could be used in authenticating NFTs.

Additionally, the carmaker plans to present an online NFT marketplace providing interested parties with a platform to buy and sell their NFTs.

Furthermore, Nissan revealed plans to provide temporary use of a particular sort of non-downloadable software program that could be leveraged in minting, storing, and trading NFTs.

Nissan would not be the first top multinational firm to file trademark applications revealing plans to delve into the cryptocurrency industry. The Crypto Basic recently reported Visa’s trademark applications, as the payment service disclosed plans to provide crypto wallets. Before Visa, Western Union showed interest in crypto exchange, transfer, and brokerage.

Nissan’s recent NFT-focused trademark applications come barely seven months after the leading Japanese automobile manufacturer, in tandem with Toyota, revealed plans to jump on the moving Metaverse train.

While Toyota indicated a decision to introduce a virtual working environment for its staffers, Nissan disclosed that it would be leveraging Virtual Reality (VR) tech to provide its customers with virtual rooms. These developments would be powered by the video game-developing firm VRChat.

Last week, Animoca Brands announced a partnership between its Australia-based video game developing subsidiary, Grease Monkey Games, and Nissan. The partnership will see Nissan present its first-ever utility NFTs.

Multiple DOGE Contracts Newly Created on ETH and BSC Amidst Hints of Dogecoin’s Twitter Integration

Albert Brown
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Multiple DOGE Contracts Newly Created on ETH and BSC Amidst Hints of Dogecoin’s Twitter Integration

 

Multiple DOGE contracts have been created on the Ethereum and Binance Smart Chain networks as talks of Dogecoin’s Twitter integration gain steam.



The newly-created DOGE contracts with names relating to Musk and Twitter – such as “TwitterDoge” and “DogeMusk” – total 169, as revealed by leading blockchain security platform, PeckShield. After the takeover, these contracts have been created amidst growing hints of Elon Musk integrating Dogecoin into the Twitter payments system.

According to PeckShield, the contracts were created on Binance Smart Chain (BSC) and Ethereum, with BSC housing most of them. Additionally, about 67 tokens out of the approximate 169 have plummeted by over 90%, with 45 tokens crashing by 100%.

“PeckShieldAlert PeckShield has detected ～169 #DOGE contracts newly created on Ethereum and BSC. ~67 tokens’ price dropped more than -90% (~45 tokens’ price dropped -100%),” PeckShield disclosed in a tweet Tuesday.

 

PeckShield also revealed that 42 of the contracts appear to be honeypots, indicating that the community should be mindful about interacting with them.

PeckShield’s recent alert on the newly-created contracts shortly followed a tweet from Elon Musk suggesting the billionaire’s advocacy for the meme coin. Musk had posted a picture of a Shiba Inu – the Dogecoin dog breed – clothed in apparel with a Twitter logo.

Musk’s tweet, which surfaced in the early hours of Tuesday, follows the billionaire’s confirmation of monetizing content creators on Twitter. Considering his advocacy for Dogecoin, the latest tweet has further fueled claims of Musk’s interest in integrating Dogecoin into Twitter’s payments system.

These speculations have favored Dogecoin’s price action in the past week. The asset has gained by over 143% in the past seven days, per data from CMC. Dogecoin, trading at $0.065 last Wednesday, began seeing slight gains following reports of Musk’s Twitter takeover.

As speculations of a Twitter integration gain momentum, the asset recently surged to $0.146 following Musk’s recent tweet. The last time DOGE saw the $0.146 level was in April. Having gained by 24% in the past 24 hours, DOGE is currently changing hands at $0.1464.

Meanwhile, Dogecoin advocate and crypto influencer Matt Wallace recently made an ambitious price forecast of $69 for the meme coin, as the asset’s trade volume surged by over 5000%.

Additionally, Dogecoin accounted for most liquidations in the crypto futures markets over the weekend, totaling $89M. The liquidations arose from a short squeeze prompted by the asset’s sudden volatility, leading to a sharp jump above its average price point.

Major Boost As Binance Pay Adds Support For Shiba Inu

Mark Brennan
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Major Boost As Binance Pay Adds Support For Shiba Inu

As expected, Binance pay adds support for Shiba Inu.



Binance confirmed the support in its latest post. The world’s top exchange writes:

“Binance has added ALPINE, APE, BIDR, BNX, BSW, CAKE, COTI, GALA, HIGH, PORTO, SANTOS, SFP, SHIB, USDT and XNO to the list of supported cryptocurrencies on Binance Pay.”

The development comes after Binance added Shiba Inu to its Binance Card in September.

Binance Pay is a simple, borderless, and secure way to send and receive cryptocurrencies from your mobile devices. You can send crypto to friends and family via email, phone number, Binance ID (UID), or Pay ID with zero gas fees.

Also, Users can Spend crypto at stores and businesses that support Binance Pay. Binance pay Order lets you choose which cryptocurrencies you want to spend in your preferred order.

Binance Pay now supports 70 plus cryptocurrencies and is widely accepted across top merchants worldwide, like travala.com, SettlePay, Alchemy Pay, and others.

Most recently, the Top Ukrainian Supermarket, the biggest ticketing platforms in Romania and 29 Shopping Malls, and 13 hotels In UAE added crypto payments with the aid of Binance Pay.

Shiba Inu Lead Developer Says His Focus Is Now on Shibarium

Mark Brennan
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Shiba Inu Lead Developer Says His Focus Is Now on Shibarium

Shytoshi Kusama’s focus is now on Shibarium.


Following the completion of Shiba Eternity game and its players’ guide, Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, said his attention is now focused on Shibarium, a Layer-2 solution. In a tweet today, Kusama said he will explain in a soon-to-be-released blog post why his major focus is now on Shibarium and other “TREATS.”

“In my next blog, I’ll explain what’s happening behind the scenes and why my focus now turns to Shibarium and other TREATs for the ShibArmy,” the lead developer of Shiba Inu said.

Kusama Responds to Critics

Meanwhile, some critics took out time to call out Kusama for not initially focusing on Shibarium ahead of Shiba Eternity. A Twitter user known as SHADIE said Shibarium should have been Kusama’s focus from the start. “Shibarium should have been your main focus from the start, isn’t that why you hired game developers???”

@ChrisSu86572773 criticize: “Aside from SHADIE, other Shiba Inu enthusiasts also shared similar sentiments. Shibarium is what we need right now, not game. This is a community project, not a personal project, tell us about shibarium, stop keeping us in the dark. We are part of Shib Ecosystem.”

Reacting to the criticisms, Kusama said people only put words in his mouth, as he has always been clear about his focus. 

“It amazes me how many people put words in my mouth. I’ve said this many times: Game -> Shibarium -> Game on Shibarium,” Kusama said. 

The Shiba Inu lead developer said since he has completed step one, he does not understand why and how Shib is not progressing. He reiterated that the upcoming blog post would shed more light on Shibarium.

“So when I say “I’m done with Step 1” I get why no Shibarium? Lol. *sigh*. The blog will update on all things Shib (from my limited perspective).

Kusama’s comment comes less than a day after he hinted that an upcoming Shibarium update is on the way.

Shibarium Features

Shibarium is an important aspect of the Shiba Inu ecosystem. The layer-2 scaling solution is expected to possess similar features as the Ethereum scaling platform Polygon in terms of scalability, security, and operability. All Shiba Inu products, including SHIB, ShibaSwap, Shiboshi, etc., will migrate to Shibarium once the L2 scaling platform eventually goes live. 

SHIB Soars 10% in 24 Hours

Meanwhile, the community seems excited about the team’s intention to focus more on Shibarium. The excitement is reflected in the price of Shiba Inu. 

At press time, Shiba Inu is up 10% in the past 24 hours. The cryptocurrency currently trades around $0.00001305, with a 24-hour trading volume of $1.08 billion. 

Another Surprise? Is Coinbase Planning To Relist XRP?

Mark Brennan
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Another Surprise? Is Coinbase Planning To Relist XRP?

Speculations make the rounds online as Coinbase requests to file an amicus brief supporting Ripple in the legal battle with the SEC.


Coinbase surprised many in the XRP community yesterday as the leading US-based exchange submitted a request to file an amicus brief in support of Ripple in the case with the US Securities and Exchange Commission.

Unsurprisingly, the move has sparked speculation among the XRP faithful that the exchange is looking to relist XRP.

As per Coinbase’s amicus brief request, along with other US-based crypto exchanges, it was forced to cease trading activities for the token following the SEC’s legal action against Ripple in December 2020. As Coinbase highlights in its brief, the case led to a domino effect that wiped off about $15 billion from XRP’s market cap, a loss felt mainly by XRP holders.

It is worth noting that recent statements from Coinbase CEO Brian Armstrong renewed calls for the exchange to relist the token. The Coinbase chief had said that he was opposed to the tribalism in the crypto space in a video clip that made the rounds on Twitter, instead asserting that he was supportive of every decentralized project trying to facilitate global financial inclusion. However, as reported, the statements were not well received by the XRP community and Ripple chief Brad Garlinghouse who felt that the exchange had shown little support for XRP.

So Is Coinbase Planning To Relist XRP?

Despite the latest show of support by Coinbase, with no clear statement from the company that it will be relisting the token, it is safer to assume that the exchange will wait for the outcome of the legal battle with the SEC.

A subtle indication of this is that Coinbase’s filing does not mention that in 2018, the firm had done an analysis and even made an inquiry with the SEC to confirm that XRP was not a security before listing it. Consequently, it does nothing to counter the SEC’s claim that the token is a security. Instead, it strongly argues in favor of Ripple’s fair notice defense, highlighting that the lack of clear rules from the SEC prevents them from carrying out enforcement action against Ripple.

As previously reported, Ripple chief Brad Garlinghouse expects the court to give a ruling on the case in the first half of 2023. As such, XRP users may have to wait till then to know if Coinbase will relist the token.

Shiba Inu Burns Almost Billion SHIB in October

Zabi
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Shiba Inu Burns Almost Billion SHIB in October

Shiba Inu Community moved out a whopping 881.73 Million SHIB from circulation forever in October.


Shibburn.com recently reported that Shiba Inu Community made 176 transactions to destroy a massive 881,736,643 (881.73M) SHIB in October.

Two Community-led burn initiatives named “SHIB Super Store” and “1Cent token” contributed significantly to the burn in October.

SHIB Super Store Burned 190.01 Million SHIB:

SHIB Super Store destroyed a staggering 190,016,768 (190.01M) SHIB via organizing five Weekly burn Events in October. On the final day of the month, i.e., October 31st, SHIB Super Store sent 32,584,181 (32.58M) SHIB to the “inferno” addresses in one significant transaction.

1Cent Destroyed 89.08 Million SHIB:

On the other hand, 1Cent token incinerated 89,080,603 (89.08M) SHIB through 5 separate transactions in October. Likewise, SHIB Super Store 1Cent also organized a Weekly Burn Event on October 31st and removed 22,432,755 (22.43M) SHIB in one notable transaction.

Past 24 Hours Burn:

Shibburn.com and the Monthly SHIB Burn figure also shared the past 24 Hour Burn and reported that 23,232,755 (23.23M) SHIB has been burned in 2 separate transactions.

Shiba Inu is preparing itself fiercely for the upcoming Bull Run. Along with Burning, Shiba Inu’s mainstream adoption is also on the rise as most companies are finding ways to expand payment options to fulfill the modern needs of their consumers. Recently, the two innovative consumer real estate brands, Pacaso and Condos.com, have begun accepting Shiba Inu payments.

The Whales’ interest in Shiba Inu also renewed following the developments in Shiba Inu Ecosystem. Biggest ETH Whales are scooping up trillions of Shiba Inu in one go from the past few days. As per data provided by WhaleStats, SHIB appears as the top holding position by dollar value among the 1000 biggest ETH Whales. The top 1000 Whales collectively hold $103,392,245 ($103.39M) worth of Shiba Inu in their wallets.

Magistrate Netburn Grants SEC’s Request to Redact Two Drafts of Hinman’s Documents in Ripple Lawsuit

Lele Jima
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0
Magistrate Netburn Grants SEC’s Request to Redact Two Drafts of Hinman’s Documents in Ripple Lawsuit

The SEC can now redact two drafts of Hinman’s documents.

Magistrate Judge Sarah Netburn has granted the SEC’s request to make redactions to two drafts of Bill Hinman’s 2018 speech. 

The development was shared by James K. Filan, a former U.S. federal prosecutor.

It can be recalled that in an October 21, 2022 filing, the SEC submitted in-camera two proposed redactions that it seeks to make to the documents. 

According to the SEC, the two proposed redactions contain discussions about pending matters involving the agency. 

“Pursuant to the court’s July 12, 2022 order, the SEC respectfully submits for in-camera review proposed redactions to two drafts of Director Bill Hinman’s June 2018 speech that discuss pending determinations before the commission,” the SEC said. 

After reviewing the proposed redactions, Magistrate Netburn granted the SEC’s request to redact the two drafts of Hinman’s 2018 speech. 

“Plaintiff’s application for leave to make the above-specified redactions is GRANTED. SO ORDERED,” Magistrate Netburn ruled. 

Hinman’s Involvement in Ripple vs. SEC Suit

Hinman was the SEC’s former director of Corporate Finance under the reign of Jay Clayton. He became famous in the cryptocurrency industry following his June 2018 controversial speech, in which he declared Ethereum as non-security because the cryptocurrency’s ledger became decentralized over the years. 

Moments after the SEC charged Ripple for offering unregistered security; the blockchain company requested that the agency surrender the drafts of Hinman’s 2018 controversial speech. 

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SEC Surrenders Hinman’s Documents

However, the SEC was not prepared to let go to the extent that it took significant steps to stop Ripple from laying its hands on the drafts. Interestingly, after spending 18 months fighting six separate bench orders, the SEC finally handed over the documents to Ripple. The internal emails and drafts behind Hinman’s speech are still sealed. Ripple CEO Brad Garlinghouse commented on the development, saying:  

“The SEC wants you to think that it cares about disclosure, transparency, and clarity. Don’t believe them. When the truth eventually comes out, the shamefulness of their behavior here will shock you.” 

Less than two weeks after surrendering the document, the SEC got its wish to redact two of the drafts. 

Coinbase, Valhil Capital, Crypto Council Request To File Amicus Briefs In Favor Of Ripple Against SEC

Mark Brennan
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Coinbase, Valhil Capital, Crypto Council Request To File Amicus Briefs In Favor Of Ripple Against SEC

Ripple’s allies continue to grow.


Three more firms have requested the court’s permission to file an amicus brief in support of Ripple, as per tweets from former federal prosecutor cum defense lawyer James K. Filan in the last 24 hours.

The firms include Valhil Capital, the Crypto Council for Innovation (CCI), and Coinbase. Notably, these 3 join the Chamber of Digital Commerce, I-Remit, TapJets, SpendTheBits, Investor Choice Advocates Network (ICAN), and The Blockchain Association, all of which have shown support for Ripple in its case against the US SEC.

As the list continues to grow, some XRP faithful are beginning to wonder if they are not approaching the record for the most number of amicus briefs in a case.

It is worth noting that as disclosed by Attorney Jeremy Hogan, the record currently sits at 78 and was set in a rape case in the 80s. Notably, the court will take amicus briefs in the SEC v. Ripple case until November 15, when the court expects both parties to submit summary judgment replies, after which both parties will wait for Judge Analisa Torres’s decision.

As explained by Hogan, it is good that the court has taken the unusual step of allowing amicus briefs in the Ripple case. The attorney explains that amicus briefs are usually restricted to the appeal and high-level courts. According to Hogan, it shows the Judge’s understanding that the case is complex and far-reaching in its consequences.

A Summary Of The Latest Briefs

Coinbase, which filed its request yesterday, asserts that it has a unique perspective as the largest crypto exchange in the US. It highlights that as a US-based exchange, the legal action brought against Ripple by the US SEC forced it and other US exchanges to delist XRP, triggering a $15 billion loss in its market value which Coinbase’s customers felt. 

Notably, Coinbase pledges support for Ripple’s fair notice defense, citing the lack of clear rules from the SEC, describing the Ripple case as “surprise enforcement.”

CCI, an umbrella body formed by nine leading crypto firms, noted that it hoped to lend its expert and professional opinions to the court as it considers the Ripple case. The body asserts that it has a stake in the case as the ruling is likely to be far-reaching in its effect on the crypto markets and the people it represents, which include developers, investors, and businesses.

CCI notes that to achieve its goals of bringing about broad changes with crypto and blockchain, collaborative policies formed from the collaboration between industry participants and regulators are necessary. Consequently, it takes objection to the SEC’s enforcement approach.

Valhil Capital, a private equity firm based in Houston, Texas, in its request, explains that the firm has integrated XRP into its operations, including compensation of executives. The firm hopes to show the court the numerous use cases of XRP beyond speculation.

Ripple has been locked in a legal battle with the SEC for almost two years now as the SEC asserts that the XRP token created by Ripple is an unregistered security.

 

Ripple vs. SEC: Attorney Deaton Files Amicus Brief On Behalf of XRP Holders, Says SEC Is Obsessed With XRP

Lele Jima
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0
Ripple vs. SEC: Attorney Deaton Files Amicus Brief On Behalf of XRP Holders, Says SEC Is Obsessed With XRP

Attorney Deaton finally requests to file Amicus Brief on behalf of XRP holders in the Ripple vs. SEC Lawsuit.


Attorney John Deaton, the founder of Crypto Law, has requested leave to file an amicus curiae brief on behalf of over 75,000 XRP holders in opposition to the SEC’s summary judgment motion and exhibits.

Recall that the SEC has repeatedly argued that XRP is a security using the Howey Test, which identifies whether certain transactions qualify as an investment contract.

According to the Supreme Court ruling in the Howey case, the Howey Test attempts to determine whether there is an “investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.”

SEC Fails to Properly Analyze Howey Test in the Case 

However, the SEC has consistently failed to make its argument by effectively using the Howey Test. Attorney Deaton said the SEC has struggled to pinpoint the common enterprise since the beginning of the case.

“The struggle is understandable considering the SEC has submitted that it ignores Howey’s second prong when applied to digital assets,” attorney Deaton stated in brief. 

He argued that the SEC always returns to XRP whenever it fails to reconcile its position. Attorney Deaton also said the Securities and Exchange Commission sees XRP as an investment contract and a common enterprise. 

Since the SEC believes XRP represents an investment contract and a common enterprise, all XRP purchases “automatically satisfy all prongs of Howey” from the agency’s point of view. 

“The SEC’s obsession with focusing on the token and not on the circumstances surrounding the offering as a whole allows the SEC to sidestep a legitimate Howey analysis,” attorney Deaton added. 

Deaton: Investors Suffer Huge Losses

The Crypto Law founder said the SEC’s case against Ripple would have been amusing if only innocent United States investors were not harmed. 

“Buried underneath the $15 billion in losses are real people who have been severely harmed, not by market volatility, but because, at least, the SEC fundamentally misunderstands the underlying technology, or at worst, has been deliberately misleading to arrogate for the SEC’s optionality as this litigation progressed,” excerpts of the brief read. 

Meanwhile, attorney Deaton is not the only one who believes the SEC is not offering a good analysis of the Howey test. As reported, Ripple stated in its summary judgment motion that the SEC does not have a legal theory to back up its claims. 

Some legal experts have also predicted that the SEC may suffer a bruising defeat against Ripple following the lawsuit’s progress. 

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