Telo News - Crypto | DeFi | Web3

The SEC requested an extension to move the discovery deadline in the Coinbase lawsuit from October 18, 2024 to February 18, 2025. The request stems from the need to review over 133,000 documents related to Coinbase, giving the SEC more time to complete its probe. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Over the past 24 hours, over $200m was liquidated, with $155.5m attributed to short positions, as Bitcoin surged more than 6% and exceeded $63,300. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Canada's central bank has decided to abandon plans for a central bank digital currency (CBDC), known as the "digital loonie," after nearly five years of research, without specifying a clear reason. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Silvergate Capital, the parent company of crypto-focused Silvergate Bank, filed for Chapter 11 bankruptcy with listed assets between $100m and $500m and liabilities between $10m and $50m. Silvergate Bank settled with the SEC for allegedly helping facilitate fraud at FTX. That month, the Federal Reserve dropped separate charges after it wound down, reimbursed customers, and ceased banking. As part of its Chapter 11 bankruptcy, Silvergate's reorganization plan proposes fully paying several debts, including admin fees, taxes, and high-priority claims. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

MEXC Ventures, Foresight Ventures, and Mirana Ventures launched a joint fund to support projects within the Aptos ecosystem. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Donald Trump made a campaign stop at PubKey, a Bitcoin bar in New York City, and made his first BTC transaction to pay for his order. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The state of Louisiana has become the first state to accept cryptocurrency as a valid form of payment Louisiana residents will have the option to pay for state services from their private, secure crypto wallets using Bitcoin, Bitcoin Lightning, and USD Coin. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

The Bank of Korea will launch a pilot for its central bank digital currency (CBDC) by the end of 2024. Starting with an initiative allowing 100k citizens to convert their bank deposits into digital tokens, which can be spent at convenience stores, including Nonghyup Hanaro Mart. Six major commercial banks and neobanks will participate in distributing the tokenized funds. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Commerzbank (CBK), the second-largest bank in Germany by number of branches, will launch a cryptocurrency service to corporate clients. Customers will be able to trade Bitcoin and Ether through the bank's partnership with Crypto Finance. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source

Federal Reserve Chairman Jerome Powell said that 17 out of 19 FOMC members are in favor of three or more rate cuts this year, with some even saying four or more rate cuts are necessary. ▪️ Telegram ▪️ X ▪️ Community ▪️ Source