Elon Musk suggests reason for China’s crypto ban
Tesla CEO Elon Musk shared his thoughts on China’s toughest cryptocurrency ban at the code conference on September 28. The centibillionaire suggested that the hostility of the Communist Party of China toward cryptocurrencies is caused by the threat they pose to centralized governments.
Musk adds that while the destruction of cryptocurrencies is impossible, governments are likely to slow the progress of the industry.
Charles Hoskinson to release Paul Oakenfold’s new album on Cardano
Paul Oakenfold, a British record producer and famous trance DJ, has teamed up with IOG CEO Charles Hoskinson to bring his new album, dubbed Zombie Lobster, to Cardano. Hoskinson, commenting on his participation in the release, admitted that the importance of blockchain in the future of the music industry was an eye opener for him.
Oakenfold is not the first artist to choose Cardano to promote his music; earlier this week, ZZ Top frontman Billy Gibbons released his freshly played pieces of music in the form of NFTs.
Switzerland approves its first crypto asset fund
As reported by Reuters, Swiss financial watchdog FINMA has given the country’s first cryptocurrency fund the green light. However, the regulator notes that the new fund is only open to qualified investors and warns about potential risks for customers.
To minimize the risks, the fund will only be allowed to invest in already established cryptocurrencies with sufficiently large trading volumes: Bitcoin, Ethereum, etc.
Tether notches a legal win in a major market manipulation case
Tether and affiliated cryptocurrency exchange Bitfinex are celebrating a small legal victory in a $1 trillion market manipulation case. According to the official message posted on Tether’s website, the judge dismissed half of the claims against the defendants.
Tether and Bitfinex called the remaining claims “meritless” and emphasized that they are not willing to settle with them.
Ripple transfers 100 million XRP, prepares to send to Huobi in pieces later
According to the crypto-tracking platform Whale Alert, on September 29, 2021, Ripple transferred 100 million XRP to its RL18-VN address for later transfer in smaller transfers to Huobi. This amount of XRP equals approximately $90,518,490 at the present exchange rate. On top of that, the San Francisco-based fintech giant made another 1.5 million XRP transfer to China’s largest crypto trading platform.
Huobi has been receiving these 1.5 million XRP lumps from Ripple’s RL18-VN since Sept. 27. The daily amount of XRP sent to this crypto exchange changes from week to week.
