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U.S. CFTC launches investigation into market maker 'Jump Crypto'"

The U.S. Commodity Futures Trading Commission (CFTC) has launched an investigation into cryptocurrency market maker Jump Crypto, Fortune reported, citing multiple sources. "The CFTC is reportedly looking broadly at Jump Crypto's trading activities, not at specific allegations," the media outlet said.

In the past, Jump Crypto was first recognized as a major market maker on FTX after it was found to have lost over $300 million in the FTX collapse. JumpCrypto was later accused of manipulating the price of Tera's (LUNC, formerly LUNA) algorithmic stablecoin TeraUSD (USTC, formerly UST) to make $1.28 billion in profits. In its indictment, the SEC alleged that "In 2019, Terraform Labs lent JumpCrypto 30 million LUNA, and in September 2020, Terra lent an additional 65 million LUNA. While Terra claims that the transactions were intended to improve the liquidity of LUNA, JumpCrypto was consistently selling LUNA on the market. Both JumpCrypto and the CFTC declined to comment on the investigation."

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

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