Lugui Tillier is the sales manager for Lumx Studios, one of the top cryptocurrency firms in Rio de Janeiro — a city with a burgeoning crypto industry.

But for Tillier — who holds dual citizenship between Belgium and Brazil — cryptocurrency is more than a job. It was a passion sparked by a friend, and it evolved into his first full-time crypto job with Lumx in 2021.

1) How did you get into crypto?

I was very fortunate because the father of one of my closest friends was the one who founded the first crypto firm here in Brazil in 2016 — BLP Crypto. Before that, he was always talking to me about crypto and blockchain, telling me it was the future and that I…

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Solana (SOL) experienced a notable 36.6% increase in value between Oct. 30 and Nov. 2. However, SOL’s failure to breach the $44.50 mark resulted in a 10% correction down to $40 on Nov. 6. This movement has left many investors pondering whether the ecosystem growth and network activity support Solana’s present $16.9 billion market capitalization.

Solana’s peak at $44.50 on Nov. 2 was the highest it had reached since August 2022, and coincided with the Solana Breakpoint 2023 global conference held in Amsterdam. The price hype during this period even prompted BitMEX co-founder Arthur Hayes to admit to being a “degen” and invest in SOL, despite referring to the token as “just a…

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The Office of the Inspector General (OIG) of the United States Securities and Exchange Commission (SEC) has released its annual examination of the most serious management and performance challenges facing the agency. Crypto was on its list, as no surprise to anyone in the crypto community.

The OIG’s “Statement on the SEC’s Management and Performance Challenges” noted the agency’s previous statements about the lack of disclosure and “widespread noncompliance with existing securities laws by crypto asset market participants.”

The existing law leaves gaps in oversight related to crypto assets that are not securities and certain stablecoins. There have been calls for…

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Artificial intelligence (AI) system ChatGPT now allows users to create their own generative pre-trained transformers (GPTs), according to a November 6 blog post from developer Open AI. This means that users can now create custom ChatGPT apps that handle a variety of tasks, instead of needing to enter long strings of commands into the chat window to perform these tasks.

GPTs are a new way for anyone to create a tailored version of ChatGPT to be more helpful in their daily life, at specific tasks, at work, or at home — and then share that creation with others. No code required. pic.twitter.com/PcmorZwtMF

— OpenAI (@OpenAI) November 6, 2023

According to OpenAI’s…

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While Sam Bankman-Fried faces a potential 100-some-odd years in prison, legal professionals agree he is unlikely to receive the maximum sentence. 

A jury last week found the FTX founder guilty of seven charges, including wire fraud as well as conspiracy to commit fraud and conspiracy to commit money laundering.  

Bankman-Fried “maintains his innocence and will continue to vigorously fight the charges against him,” his counsel, Mark Cohen, said in a Nov. 2 statement. He may ask the 2nd US Circuit Court of Appeals to review the jury’s decision.

His sentencing hearing before Judge Lewis Kaplan is scheduled for March 28. 

“Sam Bankman-Fried’s sentence will be significant, but…

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A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter to CEOs of deposit-taking institutions, and the BOE released a “cross-authority roadmap” to link them together.

His Majesty’s Treasury set the stage for the flurry of releases on Oct. 30 with a short document previewing plans for regulation. The FCA paper explored the same ground in much greater detail.

Stablecoin regulation is the first step to broader crypto asset regulation, the FCA said. The…

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The UK’s Financial Conduct Authority has stated that fiat-backed stablecoins used within the United Kingdom must comply with uniform standards. This directive applies irrespective of whether their issuers are UK-based or not, as emphasized in the FCA’s latest discussion paper released on Monday.

The FCA’s 109-page paper lays out the regulator’s general approach to stablecoins tied to fiat currencies, providing insight into how they might be applied to existing issuers such as Circle and Tether.

Circle (USDC) and Tether (USDT) together account for 87% of total stablecoin market cap, making them the “most widely used stablecoin exchanged and traded on UK exchanges,” according…

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Former FTX CEO Sam “SBF” Bankman-Fried’s public trial in a New York court ended with the jury finding him guilty on all seven charges on Nov. 3, including two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy. He will return to court for sentencing by Judge Lewis Kaplan on March 28, 2024. Government prosecutors will recommend a sentence, but Kaplan will have the final say.

Bankman-Fried’s crimes each carry a maximum sentence of five to 20 years in prison, with the wire fraud, wire fraud conspiracy and money laundering conspiracy charges carrying a maximum…

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Dogecoin DOGE/USD is trading higher by roughly 7.3% to the $0.076-level Monday afternoon, despite a lack of clear news or events that can be directly linked to this price rise. 

The broader crypto market, including Dogecoin, has seen marked strength in recent weeks due to rising optimism about a potential spot Bitcoin ETF. Major financial firms are amending their ETF applications, and the SEC may approve a spot ETF soon.

Hong Kong may also be partially responsible for crypto optimism Monday, driven by the possibility of approving exchange-traded funds (ETFs) that directly invest in cryptocurrencies.

The city is contemplating granting retail investors access to these spot ETFs, pending…

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