BitMEX founder Arthur Hayes reportedly says that layer-1 blockchain Aptos (APT) is capable of solving many problems for the traditional finance (TradFi) world. In a speech at the recent Aptos Experience conference in Seoul reported by Aptos co-founder Mo Shaikh, Hayes says that his experience in the TradFi world showed him how antiquated the industry The post Arthur Hayes Says Solana Rival Aptos (APT) Can Solve ‘A Lot of Problems’ for BlackRock and TradFi: Report appeared first on The Daily Hodl .
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Bitcoin Pumps To $61,000, Then Retraces After Fed Aggressively Cuts Interest Rates For First Time In Four Years
Bitcoin rallied above the $61,000 price point on Wednesday following the United States Federal Reserve’s decision to lower its benchmark interest rates by 50 basis points, marking the first rate cut since 2020 after the world’s most important central bank’s most aggressive hiking cycle. Most analysts believe the Fed’s policy reversal could bode well for The Daily Hodl
SEC settles with crypto lending platform Rari Capital over unregistered activity
The U.S. Securities and Exchange Commission said Wednesday it has settled charges with cryptocurrency lending platform Rari Capital and its co-founders, accusing it of operating as an unregistered broker, as well as offering unregistered securities and misleading investors. The SEC`s complaint alleged that Rari co-founders Jai Bhavnani, Jack Lipstone and David Lucid “falsely told investors that the Earn pools would automatically and autonomously rebalance their crypto assets into the highest yield-generating opportunities available when, in reality, the rebalancing mechanism often required manual input, which Rari Capital sometimes failed to initiate.” The Earn and Fuse pools, "which functioned like crypto asset investment funds," breached federal securities law by selling interests in both pools and selling the Rari Governance Token, the complaint said. What`s more, Rari and its co-founders "misleadingly touted the high annual percentage yield that investors would earn, but they failed to account for various fees and, ultimately, a significant percentage of Earn pool investors lost money on their investments," the SEC further alleged. Without admitting or denying the SEC`s findings, Rari`s co-founders agreed to civil fines, permanent injunctions, conduct-based injunctions, disgorgement with prejudgment interest, and equitable officer-and-director bars against the co-founders for a period of five years. The settlements are subject to court approval. The SEC didn`t disclose a financial sum of the fines. More on the SEC and Crypto SEC sues two brothers for alleged $60M crypto Ponzi scheme eToro to limit crypto trading for U.S. customers after SEC settlement SEC sues Plutus Lending over Abra Earn crypto lending product The Daily Hodl