• Dormant Ethereum whale stirs sending $116M worth of ETH to Kraken.
• US lawmaker urges SEC to rethink crypto regulation following landmark XRP ruling.
• Cathie Wood, ARK Invest still anticipate $1.5M Bitcoin after US banking crisis.
Dormant Ethereum Whale
A dormant Ethereum whale has stirred, sending $116 million worth of ETH to cryptocurrency exchange Kraken. This news was shared on Twitter by the company’s CEO Do Kwon, who revealed that the transaction was sent from an address that had been inactive for over three years. He also noted that it is one of the largest transfers ever seen on the network.
High-Profile Crypto Wallet Bounties
Kwon, Sam Bankman-Fried, and Elon Musk are among the high-profile crypto wallet bounties available on Arkham’s Intel Exchange platform. The platform is designed to help users identify large transactions so they can take advantage of opportunities in the market such as arbitrage trading or taking part in Initial Coin Offerings (ICOs).
SEC Rethinking Crypto Regulation
The landmark XRP ruling has prompted a US lawmaker to urge the Securities and Exchange Commission (SEC) to rethink its approach to cryptocurrency regulation. Rep Warren Davidson (R-OH) wrote a letter urging SEC Chairman Jay Clayton to consider new rules for digital assets given their potential beneficial impact on certain areas of finance and investment. He also asked for more clarity around existing regulations with regards to cryptocurrencies like XRP and ether (ETH).
Anticipations From Cathie Wood And ARK Invest
Despite some regulatory uncertainty in the US, Cathie Wood and ARK Invest are still anticipating a future where Bitcoin hits $1.5 million due to a potential economic crisis in America caused by banking mismanagement.. Elizabeth Warren has also requested an investigation into Elon Musk’s dual roles at Twitter and Tesla which could potentially have implications for both companies‘ ability to innovate within their respective sectors if found guilty of any wrongdoing.
ASIC Cancels FTX Australia License
Australia’s regulator ASIC recently canceled FTX Australia’s Financial Service license amid increasing pressure from regulators worldwide who are trying to control crypto activities in their jurisdiction more strictly . As such, FTX will no longer be able provide its services across 30,000 customers as it did before the cancelation took place on July 14th this year