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The crypto market is surging following a major regulatory shift. According to CNBC, XRP jumped 10% to $2.49 after Ripple CEO Brad Garlinghouse announced that the U.S. Securities and Exchange Commission (SEC) has dropped its case against the company. This decision marks the end of a four-year legal battle that has shaped the industry’s regulatory landscape and fueled speculation about a broader shift in the SEC’s approach. Ripple’s Long-Awaited Victory Speaking at the Digital Assets Summit in New York, Garlinghouse reflected on the drawn-out legal fight, calling it a painful yet necessary battle for the industry. “It’s been almost four years and about three months since the SEC originally sued us, certainly a painful journey in lots of ways,” Garlinghouse said. “I really deeply believed that we were going to be on the right side of the law and on the right side of history.” The SEC sued Ripple in 2020, alleging that the company sold XRP as an unregistered security. Ripple scored a...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. President Donald Trum p, who was once a cryptocurrency skeptic, has now yielded to many of the industry’s demands, such as easing federal regulations and oversight. From appointing cryptocurrency advocate and former Securities and Exchange Commissioner Paul Atkins to reprise his old role, to launching his own meme coin, Trump has chosen to embrace cryptocurrency . A few years ago, cryptocurrency was touted as the new form of currency. We wouldn’t be using archaic financial currency and stick to this revolutionized way of transactions. Although some people have made a lot of money off of crypto, its intended use as a decentralized banking system hasn’t been realized. Cryptocurrency is still very new, so new that engaging in it feels comparable to gambling. Trump lifting regulations to give cryptocurrency his blessing bodes well for the industry. A day after announcing Paul Atkins as his pick, the...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Overhyped tech sectors of cryptocurrency and artificial intelligence have seen a recent resurgence in the past year. Most of AI’s rise can be attributed to the hype and fear that surrounds its use. If you ask OpenAI CEO Sam Altman his thoughts, he’ll tell you that AI is needed to bring us into the future, but to scientists like Dr. Joy Buolamwini who approaches the use of AI cautiously, its lack of regulation can prove harmful to people of color. Despite doubts about the use of AI technology, it’s become almost ubiquitous in culture. Students have used ChatGPT for essay assignments, workers are using ChatGPT to write emails , and others have suggested using AI to create something as simple as grocery lists and corresponding menus. But even as AI and cryptocurrency continue to experience unprecedented growth, experts predict that AI will reach its peak in 2025 and then burst. Still, a second Donald...
A cryptocurrency token tied to Ripple Labs is on the rise. What’s more, if you were compelled to invest in XRP following a private Consensus conference after-party hosted by Ripple Labs and featuring Snoop Dogg in May 2018, you’re likely on cloud nine. ICYMI: Snooperang @SnoopDogg #XRPCommunity pic.twitter.com/RWjBsKUVhI — Ripple (@Ripple) May 16, 2018 According to Forbes, the token has been fairing well, particularly after Donald Trump was elected as the 47th president of the United States. It also highlights optimism stemming from Gary Gensler’s planned departure as chair of the U.S. Securities and Exchange Commission in 2025, with anticipation for him to be replaced by a U.S. President-Elect Donald Trump appointee. The SEC sued Ripple in 2020, alleging that the company failed to register its XRP token as a security before selling it, reports Business Times. Benzinga states that XRP had seen a rise of 87% between Nov. 27 and Dec. 3, 2024. In a 24-hour period ending Dec. 3, it...
His inauguration is still weeks away, but since championing the 2024 election , Donald Trump has been making his presence felt across America. The East Coast native has big plans to implement changes across the nation, from teaming up with Robert F. Kennedy on health initiatives to making cryptocurrency more accessible. On Monday, Nov. 18, it was revealed that Trump Media & Technology Group (DJT) is in “advanced talks” to acquire Bakkt (BKKT), a well-established crypto exchange company not long after the president-elect launched his World Liberty Financial initiative. The former is majority-owned by NYSE parent company Intercontinental Exchange (ICE) which is led by CEO Jeff Sprecher, husband of former Georgia Senator Kelly Loeffler, who was also co-chair of Trump’s inaugural committee . Neither Bakkt nor its future potential owners have confirmed the Financial Times ‘ reports just yet, but there have been notable jumps in both stocks since the rumor mill began turning this week....
Bitcoin has surged to its highest level since April, reaching $73,544. Forbes reported that the Nov. 5 presidential election is among several market factors affecting the $1.4 trillion cryptocurrency, contributing to the 6% increase recorded around 3 p.m. EDT (7 p.m. GMT) on Tuesday, Oct. 29. The rise puts Bitcoin’s October gains at 13%, outpacing the S&P 500, which advanced 1% this month. Several other major cryptocurrencies and shares of companies involved in Bitcoin mining — the energy-intensive process of unlocking bitcoins from the digital blockchain — also saw significant gains Tuesday. Ethereum jumped 4% to reach a 10-day high of $2,637, while Binance Coin increased 2% to an eight-day high of $608. Solana climbed 2%, reaching a three-month high of $182. Prominent investors, including hedge fund billionaire Paul Tudor Jones, are promoting Bitcoin as protection against inflation, particularly as government policies from presidential candidates Kamala Harris and Donald Trump are...
A class action lawsuit continues to loom over Shaquille O’Neal. As AFROTECH™ previously reported, he was named in a class-action lawsuit filed against the Astrals Project, which he created alongside Music Manager Brian Bayati, who serves as the CEO, and his son Myles O’Neal, who is the head of investor relations. They launched to the public the “Shaq Signature Pass,” a non-fungible token (NFT) series that was labeled as the “first consumable NFT of its kind, and the signing technology is one that we think will have wide-ranging applications.” Coindesk mentions Astrals consisted of 10,000 NFT 3D avatars and a decentralized autonomous organization (DAO) for “incubating innovative projects” with the Galaxy token serving as the governance token. In a class action filed in Florida federal court in 2023, it stated the project was in violation of securities law as the company sold unregistered Astrals tokens, according to The Hollywood Reporter. Investor Daniel Harper, who allegedly lost...
Amid the 2024 presidential race, Donald Trump is singing a different tune regarding a certain technology. On July 27, 2024, the former president stated during the Bitcoin Conference hosted in Nashville, TN, that he is set on transforming the U.S. into a “Bitcoin superpower,” The New York Times reports. “I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world,” Trump said, per the outlet. He continued, “…America will once again be a nation that protects property rights, privacy, freedom of transaction, freedom of association, and freedom of speech.” At the conference, Trump also claimed that President Joe Biden and Vice President Kamala Harris are part of “an anti-crypto crusade.” Moreover, he promised the conference’s attendees that he would end the “persecution” of cryptocurrencies. “Sadly, we see the attacks on crypto,” he said. “It’s a part of a much larger pattern that’s being carried out by the...
50 Cent claims his social accounts fell victim to a cryptocurrency scheme. Fox News reports the rapper’s X account had been hacked to promote a cryptocurrency token called $GUNIT. The token’s name suggests his former Hip-Hop group G-Unit. On Friday, June 21, 2024, the scammer allegedly wrote on 50 Cent’s account, “$GUNIT for winners only…” Complex reports 50 Cent’s Instagram account included screenshots of the $GUNIT crypto, which showed under $1 million in market value, and that number quickly increased. The message gained popularity, accumulating 57,000 likes on June 22 and drawing hundreds of users to the comments section, with some even making purchases. Despite this, 50 Cent stated he was not associated with the venture, and his accounts were later locked, Fox News notes. 50 Cent claims the hacker made $3 million within 30 minutes from the scam. It’s not possible to verify 50 Cent’s assertions, nor is there a way to confirm if the hacker earned the alleged $3 million. “My...
If you’ve been following the cryptocurrency market lately, you’re likely aware of the fact that Ethereum has made a 30 percent jump in recent days, marking a two-month high value, and shocking the overall crypto market. The price of Ethereum is $3,727.51 at the time of this writing, though that figure is obviously subject to change as the market continues to fluctuate. Given that ether has been all over the news in recent days, it’s only fair to assume a number of fresh eyes have been placed on the world of crypto investments . So, let’s unpack what exactly Ethereum is, how it works, and examine the factors which led to this week’s historic leap. Furthermore, we’ll examine trends in the market and see if we can construct a comprehensive outline of where the decentralized currency will climb in the coming years. Without any further preamble, let’s take a moment to dive into Ethereum, its price, and its applications. What Is Ethereum? Like other hot cryptocurrencies on the market,...
Canza Finance’s co-founders are leaning into Web3 to financially empower the African continent. Pascal Ntsama IV and Oyedeji Oluwoye are looking to create “the world’s largest non-institutional-based financial system” through the creation of Canza Finance, the company website mentions. They both share distinct journeys on how they arrived to the company’s inception. For Chief Technology Officer Oluwoye — born in Nigeria, Africa, and raised in Sydney, Australia, before moving to the United States at 14 — he began taking various CompTIA Certifications, early-career data analytics certification, during his senior year of high school. After graduation, he headed to the Alabama Agricultural and Mechanical University to obtain a Bachelor of Science degree in computer science. While in college, he was able to secure a position with Adtran, a networking and telecommunications company based in the U.S., as a co-op engineer. He then transitioned to work at AT&T as a senior specialist-network...
Not everyone is an investor. But thanks to platforms like Public and Robinhood , you do not have to have a degree in economics or work at Goldman Sachs to get in on the stock market action. Once reserved for only the most savvy of analysts and the wealthiest of investors, the playing field is far more level — at least in terms of accessibility. However, having access to opportunities and knowing what to do with them are two very different stories. In particular, there is something known as the Fear and Greed Index (developed by CNN) and it directly impacts how successful one can trade traditional stocks or even crypto currencies like Bitcoin. So, if traders are ready to dabble those toes into the stock market, crypto, or both, keep on reading to learn about this critical tool. What Is The Fear And Greed Index? Whether a person is trading crypto or traditional common stocks , the Fear and Greed Index is a trading tool that helps decide when to jump into a commodity, when to hold it...
Getting to the money is an idea that most people can get behind. From becoming a social media influencer to navigating a traditional job or even jumping into entrepreneurship, people are looking for ways to secure the bag and maximize wealth. One of the ways people are expanding their worth is through investments and alternative forms of traditional currency like cryptocurrency. And although cryptocurrency has become more and more popular, the reality of it still makes people scratch their heads a little bit. While crypto has been around since 2009, it has evolved. The digital currency market is expansive, and conversations around its use and inclusion in everyday life have become increasingly routine. And with such evolution comes questions about its usage and what it means for the future. Even the IRS requires users to claim crypto on their taxes, but it’s categorized as property. With so many uses, how can a person determine the best use of the currency? It is at this...
