US House Chair Patrick McHenry to Monitor SEC’s Response to BlackRock Bitcoin ETF Application US House Financial Services Committee Chairman Patrick McHenry recently expressed his support for the BlackRock iShares spot Bitcoin ETF on Twitter. In his tweet, he criticized the regulatory approach of the Securities and Exchange Commission (SEC), led by Gary Gensler, stating…
In a statement, Ivan Chebeskov, who heads the Financial Policy Department of the Russian Ministry of Finance, acknowledged the substantial profits generated by Russian Bitcoin miners from cryptocurrency mining. According to Ivan Chebeskov, the Head of the Financial Policy Department of the Russian Ministry of Finance, Russian Bitcoin miners collectively earn approximately $4 billion annually…
Terra Classic’s Parity Upgrade Boosts LUNC Price by 8%, Aligns with Terra 2.0 and Cosmos Chains The cryptocurrency world witnesses a major breakthrough as the Terra Classic blockchain successfully implements the groundbreaking v2.1.1 Parity Upgrade. Led by the Joint L1 Task Force (L1TF), this seamless execution results in a remarkable 8% surge in the LUNC…
BlackRock partners with Coinbase Custody for Spot Bitcoin ETF, while SEC lawsuit resolution nears. In a significant and unexpected move, BlackRock, the financial giant, submitted an application for a spot Bitcoin ETF, causing a major stir in the crypto industry. The timing of this filing is particularly noteworthy, as it coincides with a period of…
Shiba Inu’s Burn Rate Skyrockets by Almost 1,000% – Will the Price Experience a Parallel Surge? In an impressive demonstration of commitment, Shiba Inu has achieved a substantial boost in the burn rate of SHIB tokens. Following a persistent decline, recent data from the Shibburn website unveils a remarkable surge of nearly 1,000% in the…
Baby Doge Coin Initiates Massive Token Burn, Burning Over 206 Quadrillion BABYDOGE Tokens, Equivalent to 50.93% of Maximum Supply, Entering Overbought Territory. The Baby Doge Coin (BABYDOGE) community and development team have made a remarkable leap by undertaking a significant token burn, obliterating more than 206 quadrillion (50.93%) BabyDoge tokens. This bold and unprecedented move…
Whale Dumps 972.84 Billion PEPE Tokens: Insider Trading or Bear Market Sign? Lookonchain, an On-Chain Analysis platform, has reported a recent whale transaction involving the popular PEPE memecoin. The sale of the whale’s entire holdings, which amounted to 972.84 billion PEPE tokens, has raised concerns and sparked speculations of potential insider trading. Adding to the…
Soon, Customers can Access the Voyager App to View Available Withdrawal Amounts Voyager Digital, a cryptocurrency brokerage, is making preparations to reopen its app and enable customers to withdraw their funds, nearly a year after filing for Chapter 11 bankruptcy. The bankruptcy plan administrator, Paul Hage, stated in a court filing on June 14 that…
In a notable turnaround, Binance, the top cryptocurrency exchange, saw a significant surge in its native token, BNB, after a prolonged downtrend. With a 5.44% spike today, BNB reached $248.53 USD, bringing positive momentum to the Binance community. Recent weeks had witnessed volatile market conditions and downward trends for Binance. However, the current surge in…
Binance, the largest cryptocurrency exchange, obtained permission to provide spot trading, custody, and other services to citizens of Cyprus. Binance, the world’s biggest cryptocurrency exchange, has submitted a request to deregister as a Crypto Asset Service Provider in Cyprus, possibly due to legal issues it is currently facing in the United States. The exact reason…
Earn Passive Income with Fancy Crypto’s Cloud Mining Services Cryptocurrency mining has become an appealing avenue for individuals looking to generate passive income in the exciting world of cryptocurrency. Although there are no guaranteed methods, mining presents an opportunity for those interested in earning passive income through their involvement in the sector. Amidst the current…
UK Government Gathers Feedback as FCA Publishes List of 42 Crypto Businesses Bitstamp, a cryptocurrency exchange operating in the United Kingdom, has received official authorization from the Financial Conduct Authority (FCA). After the Financial Conduct Authority (FCA) added Hidden Road Partners and MoonPay around six months ago in December 2022, Bitstamp U.K. Limited and Interactive…
Terra Classic’s Price Soars to Nearly $0.0001 Range as LUNC Staking Surpasses $1 Trillion Terra Classic (LUNC) shows strong recovery with a significant surge in value. Currently, LUNC is trading at $0.0000953, up by more than 4%. This surge represents a noteworthy bounce of almost 12% from the recent yearly lows observed in the past…
Binance CEO CZ Rejects Bitcoin Sales and Market Manipulation Claims; Vows to Defend Against SEC Lawsuit Binance CEO Changpeng Zhao, also known as CZ, has denied accusations suggesting that Binance engaged in undisclosed Bitcoin sales with the aim of manipulating the price of its native token, BNB. Concerns were raised by industry experts, such as…
Former SEC Enforcement Division member and current president of John Reed Stark Consulting, John Reed Stark, shares his perspective on the possibility of a criminal indictment being brought against Binance, a prominent cryptocurrency exchange. John Reed Stark, president of John Reed Stark Consulting and former SEC Enforcement Division member, highlights the existence of evidence that…
Analysis of Whale Movements and Trader Activity: Will the Unlocking of 196 Million BLUR Tokens Worth Over $60M Lead to a Price Crash? Tomorrow is a significant day for BLUR as 196 million tokens, valued at $62.3 million, will be unlocked. This represents around 40% of the circulating supply. The unlocking event has raised concerns…
User Participation in Bitcoin Button Game Resumes on June 12 After Introduction Last Year The widely popular Bitcoin button game has made a comeback, following its initial launch by Binance last year. Responding to the overwhelming demand, Binance has reintroduced the game, driven by its immense popularity among users. As a global leader in cryptocurrency…
Indian Government Demands Twitter to Block Farmers’ Protests Accounts, Threatens Shutdown and Raids According to former Twitter CEO Jack Dorsey, the micro-blogging platform faced numerous requests from the Indian government to block accounts that covered the “farmer protests” and criticized the government. These requests reflect the government’s efforts to control the narrative and limit dissent…
Token unlocks have the potential to affect supply dynamics, leading to anticipated market volatility. As tokens are unlocked, investor sentiment will play a crucial role in determining the post-unlock price movements Upcoming major token unlocks in the cryptocurrency market are poised to reshape the landscape as the industry progresses. With several prominent tokens scheduled for…
In a ruling, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery upheld Galaxy Digital’s “clean termination right” in the acquisition of BitGo, as announced in 2022. The Delaware Court of Chancery has granted a motion from Galaxy Digital, a crypto investment firm, largely dismissing the case brought by digital asset custodian BitGo….
According to the report, without a robust legal framework in place, it is likely that cryptocurrency activities will increasingly shift away from the United States and towards decentralized entities. In a research report on Thursday, JPMorgan emphasized the importance for U.S. lawmakers to develop a comprehensive regulatory framework regarding the crypto industry, particularly in light…
SEC Identifies 67 Altcoins as Securities, Valued at $100 Billion In the wake of lawsuits targeting Binance and Coinbase, the US Securities and Exchange Commission (SEC) has classified 67 coins as securities. On June 5, the SEC lodged 13 charges against Binance and its founder, Changpeng Zhao, accusing them of engaging in unregistered securities offerings…
Monday brought a reason for celebration for investors in major tokens Solana (SOL), Cardano (ADA), and Polygon (MATIC), who experienced a sudden sell-off over the weekend. As prices stabilized, the tokens managed to reverse some of the losses, bringing relief to the investors. Despite minimal changes in the broader market, the tokens saw gains of…
Binance CEO CZ Discloses $392 Million Net Withdrawal in 24 Hours The recent disclosure by Binance CEO, Changpeng Zhao (CZ), provides valuable insights into the cash flow dynamics within the exchange. This revelation comes at a time of turbulence, coinciding with the legal actions taken by the U.S. Securities and Exchange Commission against Binance and…
“John Reed Stark criticizes Coinbase Exchange’s primary defense in response to SEC charges.” John Reed Stark, the former Chief of the SEC Office of Internet Enforcement, has taken issue with Coinbase Global Inc’s current argument in its defense against the markets regulator. According to Stark, the trading platform’s assertion that the regulator’s approval of its…
To account for the increasing prominence of cryptocurrencies, a new measure has been introduced to impose taxes on them. As a result, profits made from selling digital assets, like cryptocurrencies, will now be subject to a 10% tax On May 28, Nigeria’s outgoing President Muhammadu Buhari signed the Finance Act, 2023 into law on his…
Binance CEO CZ Addresses Decline in Bitcoin and Altcoins in Twitter Statement Changpeng Zhao, the CEO of Binance, which holds the title of the world’s largest cryptocurrency exchange based on trading volume, released a statement addressing the recent market volatility and addressing certain allegations surrounding his company. According to Changpeng Zhao, the market fluctuations in…
Regulatory Uncertainty Triggers Over 15% Decline in Top AI Tokens as Crypto Market Struggles Amidst the ongoing regulatory turmoil, the top Artificial Intelligence-based Coins are experiencing a decline in value, reflecting the broader slump in the crypto market. These AI crypto tokens, which have gained significant popularity in recent times, serve as digital assets that…
Exchanges Under SEC Scrutiny for Securities Law Violations Experience Substantial User Withdrawals, Maintain Smooth Transaction Processing SEC Lawsuits Trigger $4 Billion Deposit Exodus from Binance, Binance.US, and Coinbase, Blockchain Data Reveals. The three crypto exchange giants collectively experienced a net outflow of $3.1 billion via the Ethereum network and $864 million in bitcoin (BTC) from…
Moody’s, the global credit ratings agency, has downgraded Coinbase’s outlook from “stable” to “negative.” This revision comes in light of the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), which has raised concerns about potential legal and regulatory risks for the cryptocurrency exchange. Following the U.S. Securities and Exchange Commission’s (SEC) lawsuit accusing…
The Hong Kong Monetary Authority (HKMA) announced its intention to create a retail central bank digital currency (CBDC), as stated in a report released on Friday (June 9) The HKMA has been studying the development of an electronic Hong Kong dollar, referred to as ‘e-HKD,’ since 2017. Following a recent study and feedback gathered from…
OKX regularly repurchases and burns tokens to decrease their availability in the open market In a planned action between March and May, OKX crypto exchange burned more than $258 million worth of its OKB tokens. This move caused the token’s value to increase, while the overall cryptocurrency market experienced minimal fluctuations. OKX stated in its…
Binance CEO Changpeng Zhao, also known as CZ, dismissed allegations that the crypto exchange redirected around $12 billion of user funds to companies under his control These claims emerged following reports of fund diversion to a company called Merit Peak. Additionally, US Senators Elizabeth Warren and Chris Van Hollen urged the US Justice Department to…
Ripple Labs Inc, a blockchain payments company, has disclosed the five main areas where it invested funds in 2022 through the Ripple Impact Initiative In addition to its main business of facilitating cross-border payments using On-Demand Liquidity, Ripple Labs Inc has been actively pursuing other areas to make a positive impact. According to the latest…
The EU’s EBSI Vector project and Protokol blockchain solutions are collaborating to develop a program that uses blockchain technology to verify credentials of EU citizens across borders The European Commission has taken steps to adopt blockchain technology in order to revolutionize the verification process of educational and professional credentials across different countries. In a recent…
More and more people are owning Dogecoin (DOGE) since the beginning of 2023. However, the price couldn’t stay above the important $0.07 mark due to the recent negative market conditions According to Blockchair data, the number of DOGE addresses has exceeded 5 million and currently stands at 5,049,227 holders. The number of transactions on the…
Cumberland, a Prominent Market Maker Firm, Made Significant Purchases of Ethereum and various Altcoins Following the Securities and Exchange Commission’s (SEC) lawsuit against Binance, the cryptocurrency market experienced notable declines, impacting Bitcoin and other digital assets, with BNB witnessing significant losses. Simultaneously, substantial outflows were observed from the stock market as investors reacted to the…
In a notable milestone for the DeFi protocol, Aave has officially submitted a proposal to introduce the GHO stablecoin on the Ethereum mainnet. With a strong focus on thorough testing and governance protocols, Aave envisions GHO as its native token. On June 7, Chinese crypto reporter Colin Wu brought public attention to the recent development…
The Financial Services Commission (FSC) rejects Gopax’s executive change report and raises concerns over the acquisition requests due to allegations of securities laws violations The SEC’s lawsuit against Binance poses potential risks to the crypto exchange’s business prospects in South Korea. According to a report in a South Korean daily, the Financial Service Committee (FSC)…
Bitcoin returns to its familiar trading range, but the price of BTC has yet to surpass the crucial level of $27,000. Bitcoin (BTC) quickly rebounded from $26,850, completely eliminating its losses for the month of June and favoring bullish sentiment as volatility resurfaced. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BTC price recovers, nullifying…
To avoid potential conflicts with the SEC, Robinhood is contemplating the delisting of Solana, Cardano, and Polygon, as these cryptocurrencies have been classified as unregistered securities by the regulatory agency Following the recent crackdown by the U.S. Securities and Exchange Commission (SEC) on major crypto exchanges Binance and Coinbase, Robinhood, the commission-free investing platform listed…
SEC’s Actions Raise Concerns for Hong Kong; Binance’s US Exit May Impact License Applications; Hong Kong’s Cryptocurrency Regulations Remain Clear The United States Securities and Exchange Commission (SEC) has expressed concerns regarding the potential impact on Hong Kong, as highlighted by licensed lawyer Gilbert Ng. Ng provided insights into the implications of the SEC’s actions…
Ex-CFTC Chairman: Crypto Needs New Trading Structure to Survive. Massad: Money Laundering Dominates 50-90% of Crypto Transactions. Massad and Fed Chair Call for Immediate Investor Protection Measures. In an interview with CNBC, Timothy Massad, former chairman of the US Commodities Futures Trading Commission (CFTC), highlighted that the government’s ongoing legal actions against cryptocurrency exchanges Binance…
According to Bloomberg, Paul Grewal, Coinbase’s Chief Legal Officer, stated in an interview that Coinbase is ready to challenge the US Securities and Exchange Commission (SEC) in the US Supreme Court Grewal expressed their preparedness to take the matter to the highest court, emphasizing his belief that every court examining the issue will ultimately find…
SEC Files Lawsuit Against Cryptocurrency Exchange for Alleged Unregistered Securities Offerings In a statement released on June 6, the Alabama Securities Commission revealed that a multistate task force consisting of regulators from Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin has issued a Show Cause Order against cryptocurrency exchange Coinbase….
Despite SEC’s crackdown on exchanges and classification of certain cryptocurrencies as securities, Twitter CEO Elon Musk continues to promote Dogecoin With his massive following of over 142.3 million users on Twitter, CEO Elon Musk recently took to the platform to promote his favorite digital currency, Dogecoin (DOGE). Musk, widely recognized as a prominent supporter of…
The Digital Cash platform by Crunchfish revolutionizes payment services by providing offline payment capabilities, ensuring resilience in the face of connectivity or server outages. This innovative solution enhances various payment types, including Instant, EMV, CBDC, and cryptocurrency, while enabling seamless transactions both online and offline. With Crunchfish Digital Cash, users can experience uninterrupted payment convenience…
Former US SEC Enforcement Division Chief John Reed Stark discloses Binance’s move to enlist former SEC Enforcement officials in a bid to confront the US SEC According to former US SEC Enforcement Division Chief John Reed Stark, the ongoing case between the US Securities and Exchange Commission (SEC) and Binance can be likened to a…
OKX Becomes Inaugural User of Komainu Connect, a Regulated Settlement and Custody System for Institutional Clients OKX, the second-largest cryptocurrency exchange globally in terms of trading volume, has partnered with digital asset storage firm Komainu. This collaboration enables institutional users to securely store their cryptocurrencies within the custodial services provided by Komainu, which is backed…
On Monday, the cryptocurrency market witnessed a sharp decline in prices following the legal action taken by the U.S. Securities and Exchange Commission (SEC) against the crypto exchange and its CEO, accusing them of numerous violations of federal securities laws. According to data from CoinGlass, cryptocurrency traders endured losses amounting to approximately $320 million in…