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$BTC #Toncoin Sees Significant Increase in Whale Activity, Potential Price Movement Anticipated According to U.Today, Toncoin (TON), the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network (TON), has experienced a significant increase in whale activity. Large TON transactions exceeding $100,000 have surged by over 237% in the past 24 hours. This spike in large-scale transactions could indicate a potential significant price movement for TON, as large holders, often referred to as 'whales', adjust their positions in anticipation of market shifts. Crypto analyst Ali highlighted this development, suggesting that the surge in large transactions could indicate a strategic shift in whale investments and positions. Whales typically adjust their holdings in response to anticipated changes in price or market conditions. The recent 237.5% increase in whale activity could be a signal that these large holders are preparing for a substantial price move. However, whether this will result in a bullish or bearish trend is yet to be seen. At the time of writing, TON had risen 2.42% in the last 24 hours to $6.63 and ranks as the 10th largest cryptocurrency with a market valuation of $15.97 billion. Several factors could be contributing to the surge in whale activity for Toncoin. One key factor is the growing adoption of the TON Network, which is reflected in a new all-time high for daily active users. As the market reacts to this surge in whale activity, the implications for Toncoin's price could be significant. If the increase in whale activity is driven by positive market sentiment, TON could see a substantial price increase. Conversely, if whales are repositioning in response to perceived risks, the market could experience downward pressure. #tonecoin

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President Joe Biden has vetoed H.J.Res. 109, a congressional resolution that would have overturned the Securities and Exchange Commission's current approach to banks and crypto. Specifically, the resolution targeted the SEC’s Staff Accounting Bulletin 121, which presents guidance around how banks can handle customers’ crypto assets — in effect, they must treat those assets as liabilities. Banking groups have criticized this approach as making it prohibitively expensive for them to handle crypto, while regulators argue the protections are necessary to protect investors, particularly after the collapse of high-profile crypto companies like FTX. “SAB 121 reflects considered technical SEC staff views regarding the accounting obligations of certain firms that safeguard crypto-assets,” Biden said in a statement. “By virtue of invoking the Congressional Review Act, this Republican-led resolution would inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address future issues.” Biden went on to say his administration “will not support measures that jeopardize the well-being of consumers and investors.” H.J.Res. 109 was passed with mostly Republican support — but 21 Democrats supported the resolution in the House, and Majority Leader Chuck Schumer was among the Democrats who supported it in the Senate. The president had previously indicated his intention to veto the resolution, while Representative Mike Flood (the Republican congressman who sponsored H.J.Res. 109 in the House) argued, “It is clear there is overwhelming opposition to SAB 121, and I urge President Joe Biden to reconsider his previous statement of intent to veto the resolution.” Organizations opposing SAB 121 include the American Bankers Association and other financial industry lobbying groups, as well as the crypto industry advocacy group Stand With Crypto. #CryptoNewss #Write2Earn! $BTC

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