Crypto

Utah Republicans push back against government regulation of crypto

Published

3 hours ago

October 13, 2024

Utah Republicans push back against government regulation of crypto

On Friday, Utah’s Republican senator Mike Lee outlined three outcomes that could imperil the nascent cryptocurrency industry: (1) the creation of a central bank digital currency, (2) patchwork regulation by states, and (3) heavy-handed federal regulation.

Speaking at the Permissionless III crypto conference in Salt Lake City, Lee said that the trio of possibilities presented grave risks to the fast-growing digital assets sector. Lee and his fellow Republican congressman John Curtis were particularly critical of federal and state regulation of digital assets, likening it to financial surveillance that could stifle the crypto industry.

“Instead of coming after you, we should be your protectors,” Curtis said about the government’s role.

Lee vociferously defended cryptocurrency’s status as a medium of exchange and criticized its categorization as a security – a major contention of the U.S. Securities and Exchange Commission, which has launched multiple lawsuits against the industry for failing to register cryptocurrency products as securities: “Cryptocurrency is not a security. Cryptocurrency is not a commodity. Cryptocurrency is used as a medium of exchange,” Lee explained. “I don’t even think we should tax the capital gain on the transfer of it,” Lee said.

The speech also denounced central bank digital currencies (CBDCs), which governments around the world are exploring as a way to streamline payment systems and to mitigate volatility and fraud from traditional cryptocurrencies. While China’s CBDC program is already underway, the U.S. Federal Reserve is still assessing the potential and feasibility of a CBDC in a domestic context, with the crypto industry largely viewing it as a threat to financial freedom.

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Crypto

NINJACAT (NINJACAT) Is Now Available for Trading on LBank Exchange

Published

10 hours ago

October 13, 2024

Press Room

NINJACAT (NINJACAT) Is Now Available for Trading on LBank Exchange

October 13, 2024 11:30 AM EDT | Source: LBank

Road Town, British Virgin Islands–(Newsfile Corp. – October 13, 2024) – In a significant move for cryptocurrency enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of NINJACAT (NINJACAT) on October 10, 2024. As of press time, the NINJACAT/USDT trading pair has been available to users of LBank Exchange.

NINJACAT Listing Banner

To view an enhanced version of this graphic, please visit:
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In the fast-evolving world of cryptocurrency, meme coins have emerged as a unique subculture, blending humor with financial innovation. Inspired by viral internet trends and community-driven momentum, these coins have garnered significant attention in the blockchain space. Following in the footsteps of famous meme coins like Dogecoin and Shiba Inu, NINJACAT enters the scene with its own distinct identity. Drawing inspiration from the agility and intelligence of the “NINJACAT,” this project aims to capture the essence of meme culture while creating a decentralized and engaging ecosystem for crypto enthusiasts.

NINJACAT: Disrupting the Meme Coin Market with Community Power, Decentralization, and NFT Innovation

NINJACAT is a decentralized cryptocurrency project inspired by the fast-paced world of meme culture, centering around the character of an “agile and smart NINJACAT.” As a community-driven initiative, NINJACAT uses blockchain technology to create a fun and engaging ecosystem within the crypto space. More than just a financial tool, NINJACAT leverages cultural and community dynamics to foster project growth and attract a global audience. This meme coin is designed to combine both entertainment and financial innovation, providing users with a unique experience. The vision behind NINJACAT is to become a globally recognized brand in the meme coin space, accelerating the adoption of cryptocurrencies through its distinct cultural and marketing approach. By building a fun and inclusive community, NINJACAT aims to create a recognizable brand that will stand out in the cryptocurrency market. Its goal is to attract users from all over the world, offering them an opportunity to participate in a forward-thinking and culturally rich crypto experience.

A key element of NINJACAT is its decentralized governance model, where all major decisions are made through community voting. Token holders have the power to propose and vote on the future direction of the project, ensuring a democratic and transparent process. This approach gives NINJACAT users a sense of ownership and accountability, as they directly contribute to shaping the project’s trajectory. The project also plans to introduce an NFT platform, allowing users to create, trade, and collect unique digital assets that reflect the NINJACAT’s brand and meme culture.

In terms of security and compliance, NINJACAT places a strong emphasis on safety. All smart contracts will undergo rigorous audits by third-party firms, ensuring that the platform is secure and free of vulnerabilities. Additionally, team funds will be managed through multi-signature wallets, enhancing transparency. NINJACAT also aims to comply with global cryptocurrency regulations, building trust among investors and opening doors for future collaborations with traditional financial institutions. By blending meme culture, decentralized governance, and robust security, NINJACAT is poised to carve out a unique space in the cryptocurrency ecosystem.

About NINJACAT Token

The NINJACAT token ($NINJACAT) has a total supply of 1,000,000,000,000 tokens, with a carefully designed distribution plan to promote long-term stability and community engagement. 20% of the tokens are allocated to the community, including 5% for meme creators and contributors, and 15% for future DAO-managed activities, unlocking gradually over time. The team receives 18%, with a four-month linear unlock to ensure ongoing motivation. Early supporters, who are critical to the project, receive 50%, with a 24-month linear unlock to ensure market stability. Advisors and airdrop participants each receive 1%, with advisors’ tokens unlocking over 12 months. Lastly, 10% of the tokens are reserved for a long-term stability fund. The tokenomics model follows a linear unlock mechanism, minimizing market volatility and encouraging long-term commitment from all stakeholders, while prioritizing community-driven growth and ensuring incentives for continued project development.

Learn More about NINJACAT:

Website: https://ninjacat.cc/
Linkedin: https://www.linkedin.com/company/broed-utrecht/

About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 10 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.

Start Trading Now: lbank.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226380

Crypto

Trump's Election Odds On Polymarket, Gary Gensler's Doubts About Cryptocurrency's Future, Shiba Inu Lead Developer's Cryptic Post Sparks Intrigue And More: This Week In Crypto

Published

18 hours ago

October 13, 2024

Press Room

Trump's Election Odds On Polymarket, Gary Gensler's Doubts About Cryptocurrency's Future, Shiba Inu Lead Developer's Cryptic Post Sparks Intrigue And More: This Week In Crypto

The weekend was buzzing with noteworthy stories from the world of cryptocurrency. From the sudden surge in Donald Trump’s presidential election odds on Polymarket to speculations about the real identity of Bitcoin’s creator, and cryptic posts from Shiba Inu‘s SHIB/USD lead developer, the crypto community had a lot to talk about. Let’s dive into the top stories that kept the crypto world on its toes over the weekend.

Trump’s Election Odds Surge on Polymarket

The sudden increase in Donald Trump’s chances to win the presidential election on Polymarket has sparked discussions beyond the crypto community. Nate Silver, the founder of FiveThirtyEight, attributes this shift to the “doldrums” of the presidential campaign. He believes that market sentiment can sometimes have a mind of its own, especially during periods of relative calm between major events. Read the full article here.

Is Len Sassaman Bitcoin’s Creator?

Bettors on Polymarket are considering a high probability of Len Sassaman being identified as Bitcoin’s BTC/USD creator, Satoshi Nakamoto, in the upcoming HBO documentary titled ‘Money Electric: The Bitcoin Mystery’. Sassaman, a cypherpunk and developer of the PGP encryption and privacy technology, has often been linked to the mystery of Nakamoto’s identity. Read the full article here.

See Also: If You Invested $1,000 In Dogecoin When Rapper Meek Mill ‘Grabbed Some Doge,’ Here’s How Much You’d Have

Shiba Inu’s Lead Developer’s Cryptic Post

Shytoshi Kusama, the mysterious lead developer and co-founder of the Shiba Inu ecosystem, shared a cryptic post that sparked intrigue and speculation in the crypto community. The suspenseful figure reposted a message from another user, Tsukiyomi Mishima, captioned, “I think this will be the last chapter to my story…” Read the full article here.

Peter Schiff’s Advice to MicroStrategy’s Founder

Renowned economist Peter Schiff suggested that Michael Saylor, the boss of MicroStrategy Inc. MSTR, should buy the large stash of Bitcoin that the U.S. government plans to sell. Schiff’s comments followed the U.S. government’s decision to sell 69,370 BTC it had seized from the dark web marketplace Silk Road. Read the full article here.

Gary Gensler’s Doubts About Cryptocurrency’s Future

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler expressed his doubts about the potential of cryptocurrencies, including Bitcoin, to become widely accepted forms of payment. Gensler believes that cryptocurrencies are likely to continue being seen primarily as a store of value rather than a widely accepted medium of exchange. Read the full article here.

Read Next: Cybertruck Gets Dogecoin Makeover: Tesla Owner Unveils Unique Elon Musk’s Favorite Cryptocurrency-Inspired Vehicle Wrap

Photo courtesy: Unsplash

This story was generated using Benzinga Neuro and edited by Anan Ashraf.

Market News and Data brought to you by Benzinga APIs

Crypto

FBI Unveils Cryptocurrency Initiative to Investigate Crypto Price Manipulation

Published

1 day ago

October 12, 2024

Press Room

FBI Unveils Cryptocurrency Initiative to Investigate Crypto Price Manipulation

The FBI has adopted an innovative approach to combating price manipulation in cryptocurrency markets by creating its own token, NexFundAI, as part of a comprehensive investigation into fraudulent activities. This revelation, announced on Wednesday, highlights the agency’s strategic efforts to address the growing challenges in the crypto space. The Ethereum-based token was developed with assistance […]