Cryptonews

On August 4, an announcement was fired off on X (formerly Twitter, for those stuck in the Edwardian era). Solana confirmed that not just a handful, but tens of thousands of these gadgets are currently thundering down the world’s postal routes. The Seeker is the spiritual successor to the Saga-that first great leap forward in wallet-wielding, token-dropping mobile wizardry, which, to put it mildly, had all the early momentum of a snail at siesta. Until, of course, those lucrative airdrops showed up and suddenly everyone wanted in. Funny, that.

Now, the big question clattering in the market’s hallway: Is this hype train destined for a crossing, or just a gust of wind? Peeking behind the curtain, the answer whispers-maybe yes, because this show’s got tricks up its sleeve, including some clever deflation tricks and a community that actually does stuff. Surprise! 🎩✨

According to the ever-watchful Bloomberg News, the SEC has issued what can only be described as a “financial Band-Aid.” Certain USD-pegged stablecoins-those fully backed, redeemable marvels of blockchain ingenuity-can now be classified as cash equivalents. A temporary measure, you ask? Of course! Because nothing screams permanence like a stopgap solution. 🪄

This latest acquisition brings BitMine’s total stash to a staggering 833,137 Ether (ETH), according to an announcement made with all the fanfare of a royal wedding toast. And let us not forget, this puts them leagues ahead of SharpLink Gaming, who are languishing in second place like a forgotten cousin at a family reunion. Poor dears.

So it was written in Bloomberg Tax, dropped into the world on the sticky heat of August 5. The SEC, with all the warmth of a bank vault, would allow these staid tokens to walk the golden path marked “cash equivalents”-but only if they behave. They must be fully backed (“show me the money!”), chained to the U.S. dollar like an old mule to a millstone, and always redeemable if the company accountant gets squirrelly.

On the fourth day of August, the Philippine Securities and Exchange Commission (SEC), with a flourish of its advisory, did proclaim: “Beware, dear investors, of these rogue platforms that lurk beyond our shores! 🌊 They offer their crypto wares without our seal of approval, a sin most grievous!” The regulator, with a wag of its finger, declared that these digital asset providers are but vagabonds, operating sans authorization. “Fie upon them!” it cried, “for they defy our newly minted rules!” 📜

It was the illustrious Representative Dina Titus who, in a missive redolent with righteous indignation, beseeched the acting chair, the estimable Caroline Pham, to inaugurate an inquiry. Her letter – a veritable indictment penned in ink – demanded an exploration into whether Mr. Quintenz had strayed from the righteous path laid out by CFTC edicts, federal law, or even his own solemn ethical oath, all before his Senate confirmation could bestow upon him the mantle of leadership. (👀)

The SEC, ever so eager to wrap up cozy little disputes with Coinbase and others, seems to treat Ripple’s case as if it were a particularly stubborn stubborn mule. Meanwhile, lawyerly minds like Bill Morgan ponder whether SEC Chair Paul Atkins can rally the commissioners to rubber-stamp the dismissal-perhaps with a magic wand? Or maybe just a strong coffee? ☕️ It appears the paperwork has decided to take a vacation, as if the attorneys have been caught in a game of legal hide-and-seek.

The chatter around Ethereum’s price has reached fever pitch-will it break $4,000, or is another collapse brewing? Spoiler alert: the bears seem to be winning this round (for now). Over the last 7 days, the ETH price has shed more than 8.6% and currently trades around $3,533, still 27.1% off its all-time high. Cue the violins. 🎻

Behold, the revelations of Fred Krueger, whose insights pierce the veil of confusion: the United States, that colossus of the modern age, holds 40% of all Bitcoin, a figure so staggering it would make a medieval king weep with envy. With 8 million BTC in its grasp, the nation’s coffers brim with enough digital treasure to fund a thousand wars, should it so choose. 🧠💎