Category Archives: Polygon news

MATIC Surges 10% as Polygon’s 2.0 Upgrade Draws Closer MATIC, the native token of Ethereum scaling solution Polygon, has jumped 10% from Monday’s low of $0.67 as traders anticipate the upcoming Polygon 2.0 upgrade. The crypto is currently changing hands at $0.73 following a 62% increase in daily volume on Tuesday, with $500 million being[Read more…]

The Solana Foundation and Polygon Labs push back against the SEC Both organizations have expressed their disagreement with the regulatory body’s assessment, emphasizing their commitment to operating outside the scope of U.S. markets. Solana Foundation’s stance on SEC classification The Solana Foundation, which oversees the development of the Solana blockchain, expressed its willingness to cooperate[Read more…]

Introduction Blockchain data reveals that millions worth of Polygon (MATIC) tokens were transferred to crypto exchanges by key market makers, Jump Trading and Cumberland, on Friday night. This coincided with a subsequent 30% price drop, as observed by analytics firm Lookonchain. MATIC Deposits to Binance and Coinbase Lookonchain’s tweets on Saturday disclosed that Cumberland deposited[Read more…]

Robinhood Ends Support for Cardano, Polygon, and Solana Robinhood (HOOD), the popular trading platform, will end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27th – the three tokens that were named as securities in recent the Securities and Exchange Commission (SEC) lawsuits against Binance and Coinbase. “Based on our latest review,[Read more…]

Dan Gallagher’s Testimony Dan Gallagher, Robinhood’s chief legal officer, testified before the House Agriculture Committee on Tuesday that the stock trading app was “actively reviewing” tokens the Securities and Exchange Commission deemed were securities in lawsuits against Binance and Coinbase. Robinhood’s Delisting Decision On Friday, Robinhood, which recently expanded into crypto, said in an update[Read more…]

The Growth of Blockchain Technology and Scalability Challenges The growth and widespread adoption of blockchain technology has been hampered by scalability issues and resistant networks. Even Ethereum, a blockchain platform that has long been viewed as a frontrunner in space, came under scrutiny as early as 2017 when the popular blockchain-based game, Cryptokitties, clogged its[Read more…]

Polygon (MATIC) Witnesses 742% Surge in Large Transactions Polygon (MATIC) has recently experienced a sudden spike in large transactions. The massive fund movements on this network have caught the attention of market observers, triggering speculations about the motives and actions of crypto whales. According to a report by News BTC, the catalyst behind this wave[Read more…]

The U.S. Securities and Exchange Commission (SEC) and its Impact on Polygon (MATIC) The SEC’s recent lawsuits against major crypto exchanges, including Binance and Coinbase, had significant implications for several cryptocurrencies, including Polygon’s native token, MATIC. MATIC’s Struggle to Rebound Despite the overall rally in the crypto market following the lawsuits, MATIC failed to recover[Read more…]

Introduction Over the last few months, the SEC has taken to unilaterally labeling certain crypto assets as securities in unrelated lawsuits. But some industry participants say the agency doesn’t understand the technology behind these tokens well enough to make this claim. SEC’s Lawsuits and Listed Tokens In its complaint alleging Coinbase violated securities laws, the[Read more…]

The Securities and Exchange Commission (SEC) unveiled a high-profile lawsuit against Binance on Monday, targeting not only the exchange but also its CEO Changpeng Zhao. The charges against them include commingling customers’ funds and attempting to evade U.S. securities laws using “sham controls” for determining business partnerships. Altcoins Also in SEC’s Sights In addition to[Read more…]