BobaBNB has experienced a surge in transaction volume, reaching new record-breaking levels, thanks to the expansion of the ROVI Network. The ROVI Network has made it easier for people to adopt cryptocurrencies, attracting a diverse range of users to BobaBNB. Additionally, the integration of MegaWorld has significantly boosted the number of transactions on the BobaBNB…
The US central bank has been stress-testing retail banks in response to significant banking failures that occurred earlier this year. The aim is to evaluate the resilience and stability of these banks following those high-profile collapses. According to the American central bank’s “stress tests,” all 23 of the largest banks in the country have been…
Bitcoin price reacted to Jerome Powell’s speech at a monetary policy forum hosted by the European Central Bank, where he discussed potential rate hikes. US Federal Reserve Chairman Jerome Powell discussed the central bank’s monetary policy approach during a speech. Traders were anticipating an interest rate hike in the upcoming July meeting. Powell cautioned that…
Major cryptocurrency exchanges, such as Huobi, have added trading pairs for Cardano on their platforms in response to the SEC’s categorization. The recent actions taken by the U.S. Securities and Exchange Commission (SEC) against leading cryptocurrency exchanges like Binance and Coinbase caused a significant drop in the prices of top cryptocurrencies, including Cardano (ADA). However,…
The Data Act, which was initially suggested in early 2022, was approved by the European Parliament on March 14. EU lawmakers have reached an agreement to proceed with the European Data Act, despite objections from the crypto community. Thierry Breton, the EU’s Commissioner for Internal Markets, confirmed the deal in a tweet, describing it as…
Certain high-ranking members within the company charge more than $2,000 per hour for their professional services. Voyager Digital, a cryptocurrency brokerage, has been ordered to pay $1.1 million to its legal advisor, Kirkland & Ellis. The payment is for fees and expenses related to their participation in the bankruptcy proceedings of a previous brokerage firm…
According to the report, the largest cryptocurrency by market cap has historically shown a tendency to experience a rally during the month of July. In a report released on Wednesday, crypto-services provider Matrixport highlighted that optimistic investors in Bitcoin (BTC) are getting ready for the anticipated “seasonal surge.” They emphasized that the world’s largest cryptocurrency…
Investigation report reveals $8.7 billion debt owed to consumers by the exchange, with $6.4 billion attributed to misuse of stablecoins and fiat cash. According to a recent investigation report, the new management team at the defunct exchange has successfully recovered $7 billion. The report also highlights that the new administration has made significant strides in…
After obtaining full licensing in Dubai, Bybit intends to operate a comprehensive exchange with crypto lending, payment solutions, investment opportunities, and more. Bybit, a cryptocurrency exchange based in Dubai, is currently unable to serve all customers due to limitations imposed by its existing licensing, as stated by the CEO. However, there is progress in this regard…
Robinhood recently announced a layoff of 7% of its workforce, coinciding with its decision to end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27. This move signifies a shift in the platform’s supported cryptocurrencies and has implications for users invested in these particular digital assets. Cardano (ADA), Solana (SOL), and Polygon…
Recently, a group of inactive large cryptocurrency holders, known as “whales,” has become active again and started purchasing millions of Arbitrum’s ARB tokens. This sudden surge in buying activity has led to a notable increase in both the prices of ARB tokens and the overall trading volume associated with them. In a noteworthy development, two…
There have been new developments in the lawsuit between the SEC and Ripple, with the release of Hinman documents causing uncertainty for XRP token holders. Despite the wait for the Summary Judgment, there is optimism that Ripple has a good chance of winning the case. However, the judgment may not be delivered until the end…
US SEC Requests Freeze of Terra Founder Do Kwon’s Crypto Assets at Sygnum Bank. US authorities, including the New York Federal Prosecutors Office and the SEC, have requested Swiss prosecutors to freeze crypto assets and fiat currency linked to Terraform Labs and co-founder Do Kwon. The assets in question are held in Sygnum, a digital…
Binance, a popular cryptocurrency exchange, has decided to withdraw its license registration in Austria. This move follows its recent deregistration in several European countries, including the UK, Belgium, Cyprus, and the Netherlands. Binance, the largest cryptocurrency exchange in the world, has decided to withdraw its license registration in another European country. This comes as Binance…
HSBC, the largest bank in Hong Kong, has reportedly made cryptocurrency exchange-traded funds (ETFs) available for trading. This marks HSBC’s entrance into the cryptocurrency market, showcasing the increasing acceptance and adoption of digital assets in the financial industry. HSBC, the largest bank in Hong Kong, has reportedly launched its inaugural cryptocurrency services. According to journalist…
Crypto exchanges face regulatory heat alongside Binance after SEC crackdown According to blockchain data and research firm Kaiko, Binance’s market share has reached a one-year low due to intensified regulatory scrutiny targeting the exchange. The report highlights the impact of increased regulatory pressures on Binance’s market position within the cryptocurrency industry. In a recent development,…
United Nations urges member states to promptly implement the Travel Rule to address regulatory gaps. The international body emphasizes the need for swift action to close existing loopholes and ensure comprehensive protection within the financial system. Financial Action Task Force renews call for countries to implement “Travel Rule” against cryptocurrency-enabled money laundering and terrorism financing….
NEAR Foundation and Alibaba Cloud join forces to provide developers with a data query API through multi-chain indexing. NEAR Foundation partners with Alibaba Cloud to drive Web 3 growth in Asia and the Middle East. The non-profit organization, responsible for developing the NEAR protocol ecosystem, collaborates with Alibaba Cloud, the computing and storage division of…
A group of experienced full stack engineers from Terra Luna Classic has recently introduced a proposal called “Six Samurai” for the upcoming third quarter of 2023. After a joint governance proposal by Terra Luna Classic regarding liquid staking derivatives, another team has come forward with a proposal for the next quarter. The Terra Allies senior…
Despite the MetaBirkin creator’s argument that the project qualified as artistic expression protected under the First Amendment, the defense ultimately proved unsuccessful. Hermès International has secured a significant victory in its infringement case against artist Mason Rothschild, as a Manhattan judge has issued a permanent injunction on all sales of “MetaBirkin” non-fungible tokens (NFTs). The…
CEO John Ray III intends to relaunch the crypto exchange FTX 2.0, attracting interest from 363 potential buyers, including industry giants BlackRock, Ripple, and Nasdaq. Under CEO John Ray III’s leadership, FTX Debtors have revealed their intentions to revive the struggling crypto exchange FTX as part of a bankruptcy restructuring plan. Recently, FTX unveiled the…
Kalshi is seeking to enable users to place bets on the political party that will gain control of Congress following an election. The U.S. Commodity Futures Trading Commission (CFTC) has initiated a formal review and public comment period to assess the proposed contracts of prediction market platform Kalshi, which allow users to bet on the…
Cryptocurrency enthusiasts have raised suspicions that the SEC’s actions are advantageous to US financial firms. Prominent figures within the crypto industry have voiced support for allegations made by Pysh, suggesting collaboration between Wall Street and regulators. Meanwhile, financial firms are embracing opportunities in the crypto space despite the ongoing SEC lawsuits. The Securities and Exchange…
BRICS is considering Bitcoin as a potential alternative to the US dollar as a global reserve currency. Central Bank of Russia has established dedicated organizations focused on cryptocurrency mining. The BRICS alliance, made up of prominent emerging economies, is exploring the possibility of using Bitcoin as an alternative to the US dollar for global reserve…
The U.S. SEC held the highest position on the list of BlockFi creditors, with a settlement balance of $30 million since February 2022. The United States Securities and Exchange Commission (SEC) has agreed to delay the payment of a $30-million fine imposed on bankrupt crypto lender BlockFi. This payment will be postponed until the creditors…
As of the latest update, the Bitcoin/USDT pair is trading at $31,225.00, showing a 2.59% change within the past 24 hours. Similarly, the Bitcoin/TL pair is valued at 765,225.00 ₺. In the case of Ethereum, the Ethereum/USDT pair is currently trading at $1,914.64, experiencing a 0.80% increase in the last 24 hours. The Ethereum/TL pair…
The Japanese banking giant is currently engaged in discussions with stablecoin companies regarding the potential issuance of these tokens. MUFG (Mitsubishi UFJ Financial Group) is currently in discussions with the creators of well-known global stablecoins, exploring the possibility of issuing stablecoins through their blockchain platform. Japan’s banking giant is engaged in negotiations to become an…
Binance has increased the minimum staking requirements for popular cryptocurrencies including Solana (SOL), Polkadot (DOT), and Cosmos (ATOM) in their earning products. Binance Earn products provide opportunities for crypto token holders to generate passive income from their assets. These offerings include Flexible Savings and Locked Savings. In Locked Savings, users can lock their tokens for…
The FTX cryptocurrency exchange has taken legal action by filing a massive $700 million lawsuit against an investment firm that is headed by a former aide to Clinton. According to Reuters, the now-defunct cryptocurrency exchange FTX has initiated legal proceedings against a former aide to Hilary Clinton and the aide’s investment firm. Their lawsuit aims…
Siemens AG, a conglomerate based in Germany, was reportedly the first company to conduct euro-based transactions using JPM Coin. JPMorgan, an investment bank in the United States, is extending the use of its blockchain project, JPM Coin, into the realm of traditional banking. The bank has introduced euro-based payments for its corporate clients by deploying…
Gemini Staking Pro enables institutions in the U.K. to participate as Ethereum validators by depositing a minimum of 32 ETH, valued at approximately $60,000 at the current time. Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is making significant strides in expanding its services globally. Recently, on June 23, Gemini officially launched Ethereum staking…
Amid a worldwide regulatory crackdown on Binance, the cryptocurrency exchange is currently under investigation in multiple countries. This recent development in Brazil adds to the ongoing scrutiny faced by Binance globally. Deputy Alfredo Gaspar, a member of the Brazilian Chamber of Deputies, has made a formal request to summon Guilherme Haddad, the director of Binance…
Casa Enhances Self-Custody Storage with Ethereum Support and Multisignature Security for BTC and ETH Casa, established in 2016, has been a strong advocate for multi-signature self-custody of BTC. Through its flagship Bitcoin vault, Casa enables users to store their cryptocurrency using up to five keys, ensuring enhanced security through distribution. Casa initially focused on serving…
BitGo’s announcement of a non-binding letter of intent to acquire Prime Trust was followed by the termination of the acquisition just two weeks later. On June 22, BitGo, a company that provides wallet infrastructure and digital asset custodial services, announced via Twitter that it has chosen to cancel its plan to acquire Prime Trust, a…
Mastercard expands Engage program to support the launch of cryptocurrency card programs, facilitating collaboration between traditional credit card industry and crypto companies. Mastercard Engage expedites the process of launching crypto cards and enables crypto-to-fiat conversions by establishing partnerships with card issuers and BIN sponsors in the crypto industry. Mastercard’s timely expansion of its Engage program…
In the filing made by Binance.US, particular reference was made to statements by the SEC that suggested Binance and its CEO had the ability to mix or redirect customer assets. The implication of these statements was deemed misleading and prompted Binance.US to address the issue. Did the SEC mislead the public? Binance.US and its associated…
With the crypto bull market in full swing, Pepe Coin, a memecoin, has experienced significant gains. This raises the question of whether other popular memecoins such as Shiba Inu, Dogecoin, and FLOKI will also follow Pepe’s upward trajectory. The cryptocurrency market is currently witnessing a surge in prices, and Pepe Coin (PEPE) has stood out…
BitMEX’s Acting CEO and Group CFO, Stephan Lutz, suggests that crypto exchanges making profits from proprietary trading should no longer rely on internal market making teams. Lutz believes that such teams have become unnecessary due to the industry’s growth and maturity. Lutz mentioned that with the presence of numerous High Frequency Traders (HFTs) and proprietary…
Li Lin’s company, X-Spot Co. Limited, has reportedly filed a lawsuit against Huobi Global. The lawsuit is related to allegations that Li Lin’s brother was involved in dumping Huobi’s native token, HT, and comes after accusations made by Justin Sun. Huobi founder Li Lin alleges that the cryptocurrency exchange has breached the terms of the…
Despite the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), Ripple successfully secured a new deal. Despite facing regulatory compliance challenges in the United States, Ripple Labs has received an In-Principle Approval of the Major Payments Institution License from the Monetary Authority of Singapore (MAS). In light of this, Ripple’s Legal head…
Bitcoin price has shown remarkable progress, surpassing key resistance levels at $28,000 and $30,000. This surge comes as optimism grows regarding the potential approval of a spot Bitcoin ETF in the United States. Bitcoin price is approaching its highest levels of 2023, benefiting from an overall improvement in market sentiment. The past few weeks have…
Shiba Inu’s burn rate jumps by 7000%, leading to substantial price growth in just one week. Shytoshi, the project’s creator, shares exciting updates about the ecosystem. Shiba Inu (SHIB), the meme-inspired cryptocurrency, has experienced an extraordinary 7000% surge in its burn rate. This remarkable increase led to a significant 10% rise in its market capitalization…
Canadian Regulators Criticized for Neglecting Public Interests as Jeff Kirdeikis Stands with Binance TrustSwap CEO Jeff Kirdeikis has expressed his disappointment with the regulations in Canada, stating that they have not adequately served the interests of the people. In a tweet that garnered attention from the crypto community, Kirdeikis criticized Canadian regulators for their failure…
Despite facing significant criticism, hardware cryptocurrency wallet firm Ledger remains optimistic about the upcoming launch of its Ledger Recover tool in Q4 2023. Leading hardware cryptocurrency wallet provider, Ledger, is making progress towards the launch of its anticipated solution that will enable users to back up and recover the seed of a Ledger device. On…
A group of US lawmakers has introduced a bill aimed at establishing a commission to address the challenges and opportunities presented by artificial intelligence (AI). A bipartisan group of US lawmakers has introduced a bill on June 20 to create a commission dedicated to studying the country’s approach to artificial intelligence (AI). The main focus…
SEC Given 120 Days to Submit Report on Crypto Rules Following Coinbase’s Request The United States Court of Appeals for the Third Circuit has decided to maintain jurisdiction in the case led by Coinbase, seeking clarity on crypto regulations from the SEC. The court has postponed ruling on the petition for a Writ of Mandamus…
WisdomTree and Invesco, investment managers, have filed for spot Bitcoin ETFs shortly after BlackRock’s Filing. Following BlackRock’s application for a spot Bitcoin ETF, at least two investment firms have filed for their own spot Bitcoin ETFs. WisdomTree, an asset management fund based in New York, is the latest firm to submit a filing for a…
Canadian Securities Administrators warn of crypto providers using “fake” regulatory and dispute resolution entities to appear legitimate. Canadian citizens urged to verify crypto trading service providers due to the possibility of platforms utilizing “fake” regulatory bodies to enhance their credibility. Canadian Securities Administrators issue Investor Alert warning about crypto platforms falsely claiming approval from regulatory…
The Monetary Authority of Singapore (MAS) has published a whitepaper outlining a proposed common protocol for utilizing cryptocurrencies on a distributed ledger. The protocol aims to facilitate the seamless transfer of various digital assets, including tokenized bank deposits, stablecoins, and central bank digital currencies (CBDCs). MAS’s initiative seeks to establish a standardized framework for cross-system…
Alibaba Unveils Leadership Transition: Joseph Tsai, a Pro-Crypto Advocate, to Succeed Daniel Zhang as Chairman Alibaba Announces Leadership Changes: Joseph Tsai to Become Chairman, Eddie Wu as CEO, Effective September 10, 2023. The company’s restructuring aims to establish independent leaders in various business sectors, including cloud computing and logistics. Speculations within the crypto community suggest…