Popular blockchain sleuth Whale Alert, which tracks down large cryptocurrency transactions, has spotted several hefty consecutive transfers of the seventh biggest crypto in terms of market capitalization – XRP.
The crypto community reacted to those transfers with a rise in bullish sentiment.
Over 400 million XRP transferred mysteriously
According to the above-mentioned data source, slightly more than 400 million XRP were sent in five transfers, four of which were made consecutively between two blockchain addresses.
Three of those crypto chunks carried 95,000,000 XRP, worth $55,524,354 at the time of the making. The fourth one transferred 98,852,249 XRP evaluated at $57,776,166. These massive-in-size XRP transfers were sent between wallets ending in -1h7Bn and -zSoQbF.
In total, $224.2 million worth of XRP was transferred in these four massive transactions. They look more like internal transactions of a platform or like a large cryptocurrency whale reshuffling their XRP stash. XRP enthusiasts in the comments shared their excitement and bullish takes on these transactions.
A total of 17,230,000 XRP were shoveled from an anonymous wallet to the Bitstamp exchange. The story is different here than with the aforementioned transfers.
According to the Bithomp XRP-centered explorer, this XRP chunk was sent to a major European exchange from a wallet that is affiliated with the Ripple blockchain juggernaut, likely as part of the platform’s collaboration on the Ripple Payments international money transfer project.
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Ripple keeps testing RLUSD, issuing new batches
In the meantime, Ripple blockchain behemoth continues testing its dollar-pegged stablecoin, RLUSD.
As part of the trials, on Sept. 24, Ripple issued two batches of RLUSD, in 485 stablecoins each. It also burned 50 RLUSD x2 in the Ripple Treasury, according to the “Ripple Stablecoin Tracker” account on the X platform.
Ripple has been testing its stablecoin since August, planning to tap into this $2 trillion market, which is expected to increase to $2.8 trillion in value by 2028. Currently, the largest shares of this market have been taken by USD-backed stablecoin USDT issued by Tether, and USDC, created and run by Circle in collaboration with Coinbase.
#BinanceTurns7 #btc70k $XRP
$BTC

SEC has decided that crypto mining devices sold by Green United LLC are securities. 
Green United couldn’t convince a federal court to dismiss the civil fraud case brought by the SEC, which accused the company of misleading investors.
The lawsuit claims that the company’s mining hardware, known as “Green Boxes,” was part of a securities deal.
The alleged fraud
The devices were sold along with hosting agreements, where the company would operate the Green Boxes for investors, promising them huge returns.
The U.S. District Court for the District of Utah, led by Judge Ann Marie McIff Allen, agreed with the SEC.
Allen explained that the SEC had successfully argued that these Green Boxes, combined with the hosting agreements, constituted securities under law. 
The SEC accuses Green United of scamming its investors. According to them, Green United didn’t actually mine any digital tokens with its equipment, despite promises made to investors.
The company collected $18 million from people hoping to profit from mining cryptocurrencies. Instead of delivering on those promises, it purchased unmined tokens and deposited them into investors’ accounts.
This was allegedly done to fake a successful mining operation. The currency being mined, called “GREEN,” had no actual value, according to the SEC. 
It wasn’t being traded in any secondary market, which made it worthless. This kind of scam has become familiar in recent SEC enforcement actions, where fraudulent activity is disguised under the banner of crypto.
Green United rebuts SEC’s claims, says no investor lost money
In response to the SEC’s claims, Green United pushed back, saying that no investors lost money and that the SEC’s accusations were baseless.
The company argued that the SEC was trying to rewrite the law by classifying hosted mining as a security, something they say is a common practice even among public companies.
The SEC’s lawsuit is based on the Howey test, a legal standard that determines whether something is a security. This test comes from a 1946 Supreme Court ruling in SEC v. W.J. Howey Co. 
The question is whether an investor is putting money into a “common enterprise” with the expectation of making profits through the efforts of someone else. 
The SEC claims that Green United’s setup fits this definition perfectly.
$BTC
$USDC
$BNB

India Cracks Down on $48M Crypto Fraud in Fiewin Gaming App With Binance Help
India Cracks Down on $48M Crypto Fraud in Fiewin Gaming App With Binance Help
Kevin Helms
By Kevin Helms
Wed Oct 2 21:30:27 EST 2024
India’s Enforcement Directorate has exposed a massive $48 million scam linked to the online gaming app Fiewin, connected to Chinese nationals. Following an in-depth investigation, an equivalent of about $3 million has been frozen in accounts tied to these individuals. The scam lured users with quick earning schemes but blocked fund withdrawals. The investigation also involved Binance’s assistance, revealing complex cryptocurrency transfers to China.
ED Exposes ₹400 Crore Scam Involving Online Gaming App Fiewin
India’s Enforcement Directorate (ED), a specialized financial investigation agency under the Department of Revenue, Ministry of Finance in India, has taken action against a major ₹400 crore (approximately $48 million) fraud tied to an online gaming app, Fiewin, which was linked to Chinese nationals.
The investigation, reported by NDTV, has resulted in the freezing of ₹25 crore in accounts connected to these Chinese individuals. The ED, with support from cryptocurrency exchange Binance, has been investigating the app, which allegedly lured users with promises of quick earnings. However, the app reportedly prevented users from withdrawing funds once substantial amounts were accrued. As complaints mounted, the case was escalated to the ED, which specializes in handling economic crimes.
Several individuals were arrested for their roles in facilitating the scam, including Indian nationals Arun Sahu, Alok Sahu, and software engineers Chetan Prakash and Joseph Stalin.
According to ED’s findings, funds collected from gamers were funneled through “recharge persons” who converted the money into cryptocurrency, which was then transferred to Chinese nationals’ crypto wallets. Binance’s statement revealed that the fraud involved a sophisticated network using privacy-focused messaging and obfuscated financial transactions to avoid detection. The probe has traced nearly ₹400 crore to eight Binance wallets, with authorities continuing efforts to expose the full extent of this cross-border fraud.
What do you think about this large-scale online gaming scam involving cryptocurrencies and Chinese nationals? Let us know in the comments section below.
$BTC
$ETH
$XRP

The post XRP Lawsuit News : The SEC’s Appeal Strategy Could Destroy Ripple’s Win! appeared first on Coinpedia Fintech News
The SEC has 11 days to appeal the XRP ruling. In a new round of the Ripple vs SEC legal conflict, former SEC lawyer Marc Fagel revealed the agency’s probable appeal strategy. The SEC may appeal the high-profile XRP lawsuit before the October deadline. Despite a recent court victory for Ripple, the SEC may question the legality of programmatic sales that were not unregistered securities offerings. Let’s step in to know the details. 
BREAKING: Gary Gensler indirectly says that #XRP is not a security! I believe the SEC will not appeal the XRP ruling. pic.twitter.com/UxP9jp8yh0
— JackTheRippler © (@RippleXrpie) September 25, 2024
Potential Appeal Strategy 
Responding to the rumors, Fagel highlighted that if the SEC files an appeal, it would likely target the court’s decision regarding XRP sales made through intermediaries. The appeal won’t focus on the $125 million penalty Ripple was ordered to pay, as Ripple received a stay order for that penalty. Instead, the SEC is more interested in overturning the ruling on these sales, as it could have broader implications for future crypto-related cases.
No. The SEC, if they appeal, will challenge the ruling on whether programmatic sales (i.e. through intermediaries) were unregistered securities offerings. It has nothing to do with the penalty.
— Marc Fagel (@Marc_Fagel) September 25, 2024
Ex-SEC lawyer James Farrell also weighed in, suggesting a 75% chance that the agency will proceed with an appeal. Farrell said failing to appeal might weaken the SEC’s position in future crypto asset cases. The October 7 deadline is fast approaching, leaving everyone guessing about the next move.
XRP Price Took a Toll 
XRP is on a roller-coaster ride with SEC’s appeal rumors. Currently trading at around $0.5834, down 1.4%, XRP has seen its price fluctuate recently. Trading volume has also dropped, reflecting the uncertainty surrounding the lawsuit. Ripple executives, including CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, have maintained that the case is over, denying any potential appeal claims.
However, many experts still believe that the SEC could file a last-minute appeal, which would drag the legal battle and potentially impact XRP’s market performance. With both sides preparing for the next steps, the case remains one of the most closely watched in the crypto space. As the October deadline nears, the possibility of an SEC appeal could lead to extended legal battles, leaving XRP’s future hanging in the balance.
Can Ripple Keep XRP Momentum Alive? 
Moreover, at present Ripple’s Swell conference on October 14-15 is also heating up with a buzz around the launch of its stablecoin, RLUSD, and a potential XRP-focused ETF announcement. As Ripple gears up for a $50 trillion tokenization boom on the XRP Ledger, all eyes are on whether the SEC will file an appeal in the ongoing lawsuit. While Ripple’s leadership seems unfazed, the future of XRP and crypto regulation could shift dramatically if the legal battle continues.
#XRPUSDT🚨 $XRP $xrp

Yellow Vault is part of the Yellow Network, a decentralized financial ecosystem focused on leveraging Web3 technology for various financial solutions. It allows users to lock their digital assets in a secure vault and participate in different activities to earn rewards, primarily in the form of $YELLOW tokens. These tokens are distributed based on a leaderboard system that ranks users according to points earned by locking assets, making daily claims, and completing quests.

The first season of Yellow Vault's airdrop, named "The Future," runs from September 6, 2024, to November 11, 2024. Participants can boost their points through referrals and various in-app activities, aiming to climb the leaderboard and maximize their airdrop share.

For more details, you can visit their official sit

Cryptocurrency has taken the financial world by storm over the last decade. But what exactly is it, and why is it gaining so much attention? In this guide, we’ll break down the fundamentals of cryptocurrency, how it works, and why it’s important.

1. Definition of Cryptocurrency

A cryptocurrency is a form of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (like the dollar or euro), cryptocurrencies are decentralized and typically operate on a technology called blockchain. This decentralized nature means no central authority (like a bank) controls the currency.

2. Key Features of Cryptocurrency

Decentralization: Most cryptocurrencies operate on decentralized networks based on blockchain technology. This means that transactions are verified and recorded by multiple nodes or computers, rather than a single central authority.

Security: Cryptocurrencies use cryptographic techniques to ensure that transactions are secure, making it extremely difficult for anyone to alter transaction data once it’s been added to the blockchain.

Anonymity: While not all cryptocurrencies are completely anonymous, many offer a degree of privacy for users. Bitcoin transactions, for instance, are recorded publicly but without personal details attached to the wallet addresses.

Global Accessibility: Anyone with internet access can participate in the cryptocurrency economy, making it easier for people around the world, especially those in underbanked regions, to transfer and store value.

3. How Does Cryptocurrency Work?

Cryptocurrencies operate on blockchain technology, which is essentially a distributed ledger that records transactions across many computers. Each transaction is grouped into a “block,” and these blocks are linked together in a chain. Hence the name blockchain. This system ensures transparency and security.

When someone sends cryptocurrency, the transaction is broadcast to the entire network. The transaction is then verified by the network’s participants, known as miners or validators, who ensure that the sender has enough funds and that there is no double-spending. Once verified, the transaction is recorded on the blockchain.

4. Popular Cryptocurrencies

Bitcoin (BTC): The first and most well-known cryptocurrency, created in 2009 by an anonymous person (or group) known as Satoshi Nakamoto. Bitcoin is often referred to as digital gold due to its finite supply (21 million coins).

Ethereum (ETH): A decentralized platform that allows developers to build and run smart contracts and decentralized applications (DApps). It introduced the concept of programmable money.

Binance Coin (BNB): Initially launched as a utility token for the Binance exchange, BNB has evolved into a versatile cryptocurrency used for trading, payments, and more.

Solana (SOL), Cardano (ADA), Ripple (XRP): These are other cryptocurrencies gaining popularity due to their unique features and capabilities, such as faster transaction speeds or enhanced scalability.

5. Uses of Cryptocurrency

Investment: Many view cryptocurrencies as an investment opportunity, given their potential for rapid growth and the increasing mainstream adoption.

Payments: Cryptocurrencies like Bitcoin are used for online transactions, enabling users to pay for goods and services without the need for traditional payment systems.

Remittances: Cryptocurrency is used to send money across borders quickly and with lower fees than traditional remittance services.

Decentralized Finance (DeFi): Cryptocurrencies enable decentralized financial systems that operate without intermediaries, offering services like lending, borrowing, and earning interest without traditional banks.

6. Risks and Challenges

Despite its advantages, cryptocurrency is not without risks:

Volatility: Cryptocurrencies are notorious for their price swings. What can seem like a significant gain one day might turn into a loss the next.

Regulation: As governments around the world try to figure out how to regulate cryptocurrencies, there’s uncertainty about future rules and how they might affect users and businesses.

Security Threats: Although blockchain technology is secure, individuals can still fall victim to scams, hacking, and phishing attacks.

7. Conclusion

Cryptocurrency is reshaping the future of money by offering new ways to store and transfer value. While still in its early stages, this technology holds immense potential to revolutionize traditional finance systems. Whether you're an investor, a tech enthusiast, or someone simply curious about the future of money, understanding cryptocurrency is key to navigating this rapidly evolving

$BTC
$ETH
$BNB

💣 1. Token Supply Explosion
With 100 billion tokens in circulation, $HMSTR is a ticking time bomb! The “Season 2” token reserve? It might sound strategic, but it’s more like a slow bleed on your profits. Expect a massive sell-off as traders start dumping!
Eroding Community Trust
The banning of thousands of users for alleged 'cheating' has DESTROYED trust in the community. What’s next? A widespread sell-off as confidence crumbles.
📉 3. Weak Pre-Market Buzz = Sell Risk
Pre-market excitement for $HMSTR ? Practically nonexistent. A low starting price signals a sell-off tsunami the moment trading opens. Get out while you can!
Minimal Utility, Maximum Risk
What does $HMSTR even do? 🤔 With an anonymous team, a vague roadmap, and almost zero utility, this token doesn’t hold a candle to projects like $NOT and $DOG. While others are innovating, $HMSTR is standing still.
⚡ MY MOVE?
I’m not taking chances. I’ve already sold 90% of my holdings – the writing’s on the wall. Staying in this feels like gambling on a downward spiral. Don’t let hope blind you to the inevitable crash!
Be smart. Be fast. Sell before it’s too late. The clock is ticking… ⏳
#BinanceLaunchpoolHMSTR #CATIonBinance #BTCReboundsAfterFOMC #NeiroOnBinance #TerraformLabsBankruptcy
$HMSTR

Mining Bitcoin involves using specialized hardware and software to solve complex mathematical problems, verifying transactions, and securing the network. In return, miners are rewarded with Bitcoin. Here's how you can mine Bitcoin:

1. Choose a Mining Methods

Solo Mining: You mine Bitcoin on your own, but this requires substantial investment in hardware and electricity, as competition is tough.

Pool Mining: You join a mining pool where multiple miners combine their computing power to increase the chances of earning Bitcoin. The reward is shared among the pool members based on their contribution.

Cloud Mining: You rent computing power from a company that mines on your behalf. This is less technical but may carry more risks.

2. Get the Right Hardware

Bitcoin mining requires specialized equipment known as ASICs (Application-Specific Integrated Circuits), which are designed to mine efficiently. Some popular ASIC miners include:

Bitmain Antminer S19 Pro

MicroBT Whatsminer M30S

AvalonMiner 1246

Key things to consider:

Hash rate: The speed at which your hardware can solve problems.

Power consumption: High power usage means higher electricity costs.

3. Select Mining Software

You'll need software to connect your hardware to the Bitcoin network or a mining pool. Popular options include:

CGMiner

BFGMiner

EasyMiner (good for beginners)

4. Join a Mining Pool (Optional)

Mining pools help increase your chances of earning rewards by combining the processing power of multiple miners. Popular mining pools include:

Slush Pool

F2Pool

AntPool

You'll need to sign up and link your mining software to the pool. The pool takes a small fee (usually 1-3%) but increases your chances of earning rewards.

5. Set Up a Bitcoin Wallet

Before you start mining, you'll need a Bitcoin wallet to receive your earnings. Popular wallet options include:

Hardware wallets: Ledger, Trezor (most secure).

Software wallets: Electrum, Mycelium.

Exchange wallets: Binance, Coinbase.

6. Start Mining

Set up your hardware and connect it to the power supply.

Install and configure your mining software.

Start mining by connecting to a pool or the Bitcoin network.

Monitor your hardware’s performance, temperature, and electricity consumption.

7. Manage Costs

Mining can be expensive, especially in terms of electricity. Here are ways to manage costs:

Cheap electricity: Consider mining in locations where electricity is cheaper.

Cooling solutions: Mining generates heat, so proper cooling can help extend the life of your hardware and reduce costs.

Maintenance: Regularly clean and maintain your mining equipment to ensure it runs efficiently.

Profitability

Mining profitability depends on:

Bitcoin price

Hash rate of your equipment

Electricity costs

Mining difficulty (adjusts over time)

You can use online calculators (e.g., WhatToMine) to estimate potential profits based on your setup.

For beginners, cloud mining
or pool mining might be better options than solo mining due to lower upfront costs and lower risks.
#BTC☀ $btc