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Pump.fun faces backlash over harmful content on livestream feature

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A prominent cryptocurrency influencer has come under fire after hosting a livestream that appeared to encourage pump-and-dump schemes, a controversial practice of artificially inflating an asset’s value before selling off holdings at a profit. The Nov. 20 broadcast, widely criticized on social media, featured discussions about coordinated buying of low-market-cap tokens with promises of quick gains. Many viewers and industry experts condemned the content for promoting unethical and potentially illegal trading behavior.

The livestream gained significant attention as the influencer’s audience, numbering in the hundreds of thousands, participated in the promoted trades. While some users reported short-term profits, others experienced losses as token prices crashed almost immediately after the pump. Critics accused the influencer of exploiting inexperienced traders and warned of the long-term damage such schemes could inflict on the cryptocurrency market’s credibility.

Regulators and watchdog groups have increasingly scrutinized such activities, viewing pump-and-dump schemes as market manipulation. Legal experts have noted that influencers engaging in these practices risk regulatory action, including fines and bans from participating in financial markets. Platforms like YouTube and Twitch, where such content is often broadcast, also face growing pressure to crack down on creators promoting unethical trading practices.

The incident has reignited debates about the role of social media influencers in the cryptocurrency space and the need for greater transparency and accountability. While many influencers serve as valuable sources of education and market insights, cases like this highlight the darker side of their influence. Industry advocates are calling for stronger community standards and clearer regulatory frameworks to protect retail investors from similar exploitative practices.

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US lawmakers advance anti-CBDC bill

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U.S. lawmakers have voted to advance a bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC), marking a major step in the political pushback against the development of a digital dollar.

The bill, which passed through the House Financial Services Committee, would prohibit the Fed from directly offering accounts or issuing a CBDC to individuals, citing concerns over surveillance, privacy, and government overreach.

Supporters of the legislation argue that a digital dollar could pose significant risks to civil liberties, enabling real-time tracking of consumer transactions and expanding federal control over personal finances. They view the bill as a safeguard against what they describe as a “surveillance-style” monetary system.

Opponents of the bill, however, argue that restricting CBDC development could hinder U.S. innovation and global competitiveness in the evolving digital financial landscape.

The legislation now moves closer to a potential floor vote in Congress. Its progress underscores growing ideological divisions over the future of money in the United States, with CBDCs emerging as a new front in the broader debate over digital governance, financial freedom, and the role of government in the digital age.

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Gemini to open Miami office after judge stays SEC case

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Crypto exchange Gemini has opened a new office in Miami, reinforcing its commitment to expanding operations despite pausing its plans for an initial public offering (IPO) amid a continuing legal battle with the U.S. Securities and Exchange Commission (SEC).

The Miami office signals the company’s long-term vision for growth in key U.S. markets, even as regulatory uncertainty clouds the broader crypto landscape. The expansion comes at a time when Gemini is facing heightened scrutiny from the SEC over its Earn program, which the regulator alleges involved unregistered securities.

While the IPO remains on hold, Gemini continues to strengthen its infrastructure and team, focusing on user growth, compliance, and regional outreach. The Miami hub is expected to play a strategic role in those efforts, leveraging the city’s growing status as a U.S. crypto hotspot.

Co-founders Cameron and Tyler Winklevoss remain vocal about the need for clear regulatory frameworks and have emphasized that Gemini will continue to fight for fair treatment while building responsibly in the U.S. and abroad.

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Coinbase Institutional files for XRP futures trading with CFTC

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Coinbase Institutional has officially filed with the U.S. Commodity Futures Trading Commission (CFTC) to offer XRP futures trading, marking a significant move toward expanding institutional access to Ripple’s native token.

The filing, submitted through Coinbase Derivatives, signals the exchange’s intent to list XRP futures contracts in a regulated environment. If approved, it would allow institutional investors to gain exposure to XRP through derivative products, a key step in broadening the token’s presence in traditional financial markets.

This development comes amid a gradually improving regulatory climate for XRP, following a partial legal victory for Ripple in its ongoing case with the U.S. Securities and Exchange Commission (SEC). The outcome gave XRP a degree of legal clarity, opening the door for exchanges and financial institutions to re-engage with the asset.

Coinbase’s push to expand its derivatives offerings also aligns with its strategy to build a more robust institutional platform. Approval from the CFTC would position the exchange to capitalize on growing demand for regulated crypto investment vehicles.

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