According to court documents, the legal actions taken against the bankrupt crypto lender’s business partners are expected to have a significant impact, exceeding $1 billion, on the creditors. Based on court documents, the legal actions pursued against the bankrupt crypto lender’s business partners are anticipated to greatly benefit the creditors, surpassing $1 billion in impact….
This move is one of the biggest fund transfers for Celsius Network since it sought bankruptcy protection in July. Celsius ETH staking with Figment – source (Arkham Intelligence) Celsius Network, a troubled cryptocurrency lender, used Figment, a professional staking service, to stake approximately $75 million worth of ether (ETH) last week, according to blockchain data….
Representatives from the seven advanced economies showed they are dedicated to following the rules set by organizations like the FSB and IMF regarding cryptocurrencies and digital currencies issued by central banks. The G-7, a group of seven countries that work together on global issues, has shown that it is dedicated to using the rules that…
There have been reports of issues with withdrawing funds on Coinbase, a widely used cryptocurrency exchange. Coinbase, a major cryptocurrency exchange, stated that customers from the UK and Canada experienced difficulties in withdrawing funds to their PayPal accounts. The company acknowledged the issue and mentioned that they are currently working on resolving it. As per…
Ethereum network faced another incident within 24 hours. Blocks were proposed but not validated for 25 minutes. Ethereum, the second largest blockchain by cryptocurrency market value, experienced a technical issue on Friday. This issue caused a delay in the finalization of blocks on the network for nearly an hour. The Ethereum Foundation explained that to…
The creditors will be compensated with a monetary amount equivalent to the value of their lost cryptocurrency assets as of April 15, 2019. Creditors of QuadrigaCX, the bankrupt Canadian crypto exchange, will be paid an “interim dividend” amounting to 13% of their total claims. Ernst & Young (EY), the bankruptcy trustee overseeing the process, informed…
Valkyrie, a company that manages assets, has recently submitted an application for a futures ETF focused on Ethereum (ETH). This ETF, called Valkyrie Ethereum Strategy ETF, aims to track the performance of Ethereum, which is the second-largest cryptocurrency in the world. While there is limited information available about the fund’s specifics, Valkyrie Digital Assets specializes…
Binance, the biggest cryptocurrency exchange worldwide, has decided to leave Canada. They made this decision because of new rules about stablecoins (a type of cryptocurrency tied to a stable asset) and limits on how much investors can participate. Binance, a crypto exchange, has said it will stop working in Canada because the rules and regulations…
Florida Governor Ron DeSantis has issued a ban on the use of Central Bank Digital Currencies (CBDCs) in the state. In a surprising move, Florida Governor Ron DeSantis has implemented a ban on the creation and usage of Central Bank Digital Currencies (CBDCs) in the state. This decision also safeguards Florida residents from the forthcoming…
Binance Turkey Hosts First Meeting with Entrepreneurs at Ankara Technopark. During the event, various subjects were discussed, including the crypto ecosystem and Web3. Attendees were introduced to Binance’s startup support initiative, Binance Labs. Binance Labs Investment Manager, Alex Odagiu, joined the meeting virtually and provided insights on Binance Labs’ projects. During the event at Ankara…
Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse Share Thoughts on US Regulation at Dubai Fintech Summit. Saqr Ereiqat, co-founder of Crypto Oasis, Highlights United Arab Emirates’ Favorable Infrastructure for Crypto Businesses at Dubai Fintech Summit. In a conversation with Cointelegraph, Saqr Ereiqat emphasized the key factors businesses should consider when choosing a location…
Proposed EU Laws Mandate Crypto Companies, Including Non-Fungible Tokens (NFTs), to Register with Tax Authorities, Regardless of Location EU Draft Bill Requires Crypto Companies to Disclose Client Holdings to Tax Authorities, Reveals Freedom of Information Release EU Finance Ministers Set to Approve Data-Sharing Law for Crypto Companies, Modeled after OECD, Allowing Inter-Bloc Data Exchange. Some…
In response to mounting regulatory scrutiny from U.S. authorities, Binance.US and Changpeng Zhao (CZ) are actively seeking to reduce CZ’s majority stake and diminish his influence over the cryptocurrency exchange. To mitigate unnecessary regulatory scrutiny: To address the growing regulatory scrutiny faced by Binance.US, the exchange and its founder, CZ, are reportedly exploring avenues to…
During the summit hosted by the Financial Times, a representative from Binance expressed their willingness to embrace and comply with cryptocurrency regulations in the nation. As the future of cryptocurrency regulation in the United States, the world’s largest financial center, remains uncertain, attention has shifted to the United Kingdom, where ongoing efforts have captured the…
A new initiative in the United Arab Emirates (UAE) aims to construct two large facilities for cryptocurrency mining. These advanced data centers will use a special cooling method called full immersion due to the hot desert climate, which makes traditional air cooling impractical for mining operations. Cutting-Edge Crypto Mining Centers in Abu Dhabi Overcome Cooling…
Since the summer of 2022, Binance CEO Zhao Changpeng, commonly known as CZ, has been making efforts to sell a portion of his shares in an attempt to improve the company’s perception among U.S. authorities. According to a report by The Information, Binance.US, along with its founder, majority shareholder, and chairman, Changpeng Zhao, is actively…
Standard Chartered Bank has announced its intention to provide high-quality custody services for digital assets in Dubai. This service will be offered through its subsidiary, Zodia Custody, pending approval from regulatory authorities. Just three months after finalizing an agreement with SBI Digital Asset Holdings in Japan to establish a cryptocurrency custody platform, Standard Chartered, a…
The European Banking Authority aims to prevent private, permissionless cryptocurrency initiatives from posing a threat to monetary policy privileges. The European Banking Authority’s Jose Manuel Campa – Image source “coindesk” The Chair of the European Banking Authority (EBA) has expressed the view that central banks should block the adoption of large stablecoins if they have…
South Korea gets ready for the first court trial of Terra co-founder in May concerning the Terra-LUNA crisis. Terra co-founder Daniel Shin is scheduled to attend his initial trial at the Seoul Southern District Court on May 26. South Korean prosecutors have charged Daniel Shin and nine other individuals with various offenses, including fraud, in…
Coinbase Highlights Potential Profits and Risks of Meme Coins in Short-Term Investments. In its recent newsletter, Coinbase (COIN) drew attention to the increasing popularity of pepecoin (PEPE) and meme coins based on Bitcoin. Following a notable decline in the cryptocurrency market, traders are now seeking opportunities for profit by shifting their focus towards humorous tokens…
The amount of staked ether has reached a new record high of 19.55 million, with ETH staking deposits surpassing withdrawals. Looking back, the selling pressure on ether (ETH), the native token of Ethereum, was not significant after the Shanghai upgrade, which allowed for staking redemptions for the first time. This conclusion was drawn from a…
Shibarium, Shiba Inu’s Layer-2 Solution, to be Integrated into London-based Exchange Swapika. In a recent tweet, Swapika announced its plans to incorporate Shibarium, the layer-2 solution, upon its launch. The non-custodial cryptocurrency exchange intends to expand its support for the Shiba Inu ecosystem in the near future. Big news for #ShibaArmy Swapika is proud to support $BONE, $SHIB,…
Alpha is a blockchain designed to mainly facilitate decentralized trading. Vega has officially launched its Alpha mainnet, which is a specialized blockchain created to enable decentralized trading of financial products like futures and options in the crypto derivatives market. Alpha provides support for different types of markets and assets, such as futures, spot swaps, options,…
Last week, the Federal Reserve hinted that it might take a break from raising interest rates, despite the fact that inflation is still significantly higher than its desired 2% target. The April inflation report was released Wednesday morning “Image source coindesk” According to the Consumer Price Index (CPI) report released by the Bureau of Labor…
Hong Kong wants to become a major hub for digital assets, which has attracted the attention of many companies. However, it’s important to note that these companies should be prepared for strict regulations, as the region has indicated. The authorities are currently working on developing new licensing rules for service providers involved with cryptocurrencies, as…
Gemini to Launch Mobile App and Website for PEPE Trading, Bringing Convenience to Traders. Pepe Coin Outperforms BTC and ETH with a 6% Higher Increase. Gemini, a popular cryptocurrency exchange, has included the “favorite memecoin Pepe (PEPE)” in its list of tradable assets. Soon, trading for $PEPE will be available on the platform. Investors from…
On Binance.US, the price of Bitcoin reached a peak of $28,600 during the day, surpassing the intraday market price high of $28,000. As the global cryptocurrency exchange Binance continues to recover from multiple interruptions in Bitcoin (BTC) withdrawals, its American counterpart, Binance.US, is selling BTC at a higher price than the average market rate, known…
Binance Plans to Adopt Lightning Network; Which Major Crypto Exchanges are Lightning Ready, and Which Ones are Not? The significant increase in Bitcoin transaction fees, causing a decrease of $27,832 in BTC values, has motivated one of the largest cryptocurrency exchanges to upgrade to the Bitcoin Lightning Network. After experiencing another pause in withdrawals, Binance…
Binance to Launch Support for Bitcoin Ordinals (Bitcoin NFTs) in Late May 2023 Over Three Million NFTs Minted on the Bitcoin Network Since Launch Binance, the widely used cryptocurrency exchange, has revealed its plans to join the growing Bitcoin-based market. In an announcement today, Binance shared that it will soon enable users to create and…
Ordinals Token Now Available on Numerous Centralized Exchanges The combined market value of tokens developed on the Ordinals protocol has surpassed $900 million. The Ordinals protocol is revolutionizing the Bitcoin landscape by enabling individuals who run Bitcoin nodes to embed data into each satoshi, resulting in the creation of the Ordinals ($ORDI) token. It’s important…
According to President Hong Fang, Turkey was selected for the new office as it is a significant market. The exchange had previously stated its intention to open a branch in Australia. OKX, a well-known cryptocurrency exchange, intends to open an office in Turkey in the coming months. To prepare for its expansion, OKX has already…
Estonia’s regulator finds problems with crypto companies, including questionable executives and unrealistic business plans. Nearly 400 virtual asset service providers (VASPs) in Estonia have closed down or had their authorizations revoked as a result of the government’s new anti-money laundering laws. These laws, aimed at preventing terrorist financing, were implemented in March. The updated laws…
The popularity of BRC-20 tokens has led to a 92% increase in registered inscriptions on the Bitcoin network within just 8 days. The number of registered inscriptions on the Bitcoin network, indicated by the BTC ticker, has experienced another significant surge. It has nearly doubled, rising from 2.5 million to 4.78 million in just the…
Core Scientific denies Celsius’ claim of $4.7 million, stating that Celsius has been unjustly benefited. The bankrupt Bitcoin mining company, Core Scientific, has opposed a $4.7 million administrative claim made by crypto lender Celsius Network. This disagreement has sparked a dispute between the two companies regarding their contractual responsibilities. Core Scientific has filed an objection…
Bankman-Fried, the individual associated with FTX, has not taken steps to dismiss charges related to securities fraud or money laundering. Late on Monday, Sam Bankman-Fried, the founder of FTX, submitted legal motions before the trial to request the dismissal of most of the charges against him. He cited various reasons to support his request. Bankman-Fried,…
Bittrex had previously announced plans to leave the United States, but the company is also dealing with a legal action from the Securities and Exchange Commission (SEC). Bittrex, a cryptocurrency exchange, has filed for bankruptcy in Delaware, USA, on Monday. This comes after the company’s earlier announcement about gradually closing down its operations in the…
The company explained that the outcome of the product will be determined by how both Bitcoin (BTC) and its gold-backed token XAUT perform together. Orbit Markets, a company that provides liquidity for cryptocurrencies to institutions, is launching a new type of investment product that combines Bitcoin and gold. They are partnering with execution broker PI…
Ripple, a big company in payment solutions, revealed its intention to expand to Dubai. They mentioned the clear rules set by regulators and the increasing number of customers in the region as important reasons for this move. Ripple, a well-known company that offers payment solutions and is responsible for XRP, revealed its plan to expand…
Coinbase CEO Expresses Optimism About the Nation’s Crypto Growth Potential. Coinbase Aims for 1 Billion Global Crypto Users with Support from the UAE. Coinbase CEO Acknowledges UAE’s Impressive Crypto Growth Potential. The UAE 🇦🇪 deserves a lot of credit for being forward thinking on crypto. First dedicated crypto regulator in the world, a clear rule…
Following concerns over money laundering, regulators in the tech-friendly nation have decided to resume their normal monitoring practices, abandoning the strict approach they had adopted: Data released by Estonia’s money-laundering regulator on Monday reveals that the implementation of a controversial crypto law has resulted in an approximately 80% decrease in the number of registered firms…
Binance recently made an important announcement about pending Bitcoin withdrawals. Here’s a simplified version of the statement Binance, which is the biggest exchange for digital money worldwide, has declared that all the Bitcoin withdrawals that were waiting have now been completed. We have finished processing all the Bitcoin withdrawals that were waiting. We appreciate your…
According to Prime Minister Daniel Risch, under the proposed plans, any cryptocurrency received will be promptly converted into Swiss francs, as stated in an interview with German news publication Handelsblatt. According to a report by German news outlet Handelsblatt, Liechtenstein intends to introduce bitcoin (BTC) as a payment method for government services. Liechtenstein’s Prime Minister…
South Korean lawmaker Kim Nam-kuk, from the Democratic Party, is being investigated by local authorities due to questionable cryptocurrency transfers. It is worth noting that Kim Nam-kuk had previously supported a bill aiming to delay the taxation of cryptocurrency profits. South Korea’s financial watchdog has alerted local prosecutors about a string of cryptocurrency transactions made…
Authorities in the Philippines have dismantled a crypto scam ring that preyed on victims by enticing them to deposit cryptocurrency into fraudulent accounts. During the month of April alone, over $100 million was lost due to various crypto scams and exploitations. Local media reported on May 7 that the Philippine National Police successfully rescued 1,090…
Worries spread on Crypto Twitter about a potential denial of service (DoS) attack targeting the Bitcoin network. Over the weekend, a sudden increase in Bitcoin transaction fees and unconfirmed transactions, causing Bitcoin BTC prices to drop to $28,307, raised concerns on Crypto Twitter about a possible Denial of Service (DoS) “attack” on the network. Several…
Binance Freezes Bitcoin Withdrawals Again, This Time Within 8 Hours of the First Pause. Binance has once again temporarily stopped allowing users to withdraw bitcoins due to a significant increase in congestion on the Bitcoin network. We've temporarily closed #BTC withdrawals due to the large volume of pending transactions. Our team is currently working on…
James Murphy, a lawyer with expertise in cryptocurrencies, discussed the legal conflict between the SEC and Coinbase. James Murphy, a prominent cryptocurrency lawyer in the United States, addressed the regulatory pressure imposed by the Securities and Exchange Commission (SEC) on the cryptocurrency exchange Coinbase. Murphy expressed his belief that the SEC would have a high…
According to a cryptocurrency trader, the prices of Ethereum (ETH) are expected to decrease or experience a slowdown in the coming days. This prediction follows the findings of LookOnChain, an on-chain monitoring tool, which discovered that an increasing number of ETH holders are transferring their coins to centralized cryptocurrency exchanges such as Binance and Kraken….
In its recent announcement, cryptocurrency exchange Binance revealed that it has added this altcoin to its futures platform Binance, the cryptocurrency exchange, has revealed its plans to introduce a new perpetual contract for the meme token Floki (FLOKI) on its futures platform. The contract, named 1000FLOKIUSDT Perpetual Contract, will enable users to trade with up…
Binance has decided to temporarily stop accepting market orders for specific trading pairs involving Shiba Inu (SHIB), FLOKI, and PEPE tokens. This means that users will not be able to place market orders for these tokens on Binance for a certain period of time. Binance, the biggest cryptocurrency exchange in the world, announced on Saturday…