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…
Chris Giancarlo, former Chairman of the CFTC, has voiced his support for the significance of the SEC’s crackdown on exchanges, but finds it rather unexciting. Christopher Giancarlo, the former Chairman of the United States Commodity Futures Trading Commission (CFTC), has shared his perspective on the highly discussed Securities and Exchange Commission (SEC) crackdown on Coinbase…
Terra Luna Classic’s core developer joins L1 Task Force for ongoing collaboration with USTC repeg, resulting in a remarkable 40% surge in LUNC price, greatly exciting the community. In an eagerly anticipated move, the core developer of Terra Luna Classic has officially joined forces with the L1 Task Force (L1TF) to embark on the revitalization…
Litecoin Blockchain Witnesses Surge in Daily Active and New Addresses As the upcoming halving event in August approaches, Litecoin remains unaffected by the recent lawsuits targeting Binance and Coinbase. Unlike the altcoins mentioned in the lawsuits, Litecoin is not classified as a security by the SEC. The network is currently witnessing growth in anticipation of…
Binance Labs Empowers Promising Projects, Selecting Top 2% of Applicants. Strategic Investments Reshaping the Future of Web3 Ventures. Binance Labs Invests in Top Performers of Season 5 Incubation Program, Supporting Promising Projects. Venture Capital Arm of Binance Backs Successful Ventures. Less than 2% of over 900 project applicants were accepted into Binance Labs’ Incubation Program,…
Deutsche Bank Pursues Bafin License for Crypto Custodial Services to Boost Fee Income in Corporate Unit Despite increased regulatory scrutiny, Deutsche Bank, the largest bank in Germany, is undeterred and has applied for permission to provide custodial services for digital assets like cryptocurrencies. This move highlights the bank’s interest in entering the crypto space and…
Whale buying signals positive market sentiment as Bitcoin shows steady growth at $26,799. Bitcoin whales have been actively acquiring the cryptocurrency in the market over the past two months, accumulating nearly $3.5 billion worth of BTC since early April. Despite a perceived decline in BTC’s value, these large holders remain bullish on the long-term prospects…
APE Coin (APE) Plummeted to All-Time Low (ATL) at $1.953, Experiencing a 40% Decline in 15 Days Yuga Labs’ ApeCoin, BAYC, and MAYC commanded Crypto Twitter trends in Asia, but no positive updates or significant price reversals transpired. ApeCoin (APE) currently faces downward pressure amidst the prevailing bearish market conditions. Over the past fifteen days,…
Elon Musk’s legal team is experiencing notable changes as he faces a $258 billion lawsuit related to allegations of Dogecoin market manipulation. Adam Gabor Mehes, a key litigator, has departed, and the role is now taken over by Allison Huebert. This reshuffling highlights the ongoing developments surrounding the legal proceedings in the high-profile case. In…
Crypto Regulation Law in the United Kingdom Requires Royal Assent, Expanding Scope to Include Stablecoins The United Kingdom’s House of Lords, the upper house of Parliament, has granted its approval to a measure aimed at regulating stablecoins and cryptocurrencies while also introducing oversight for cryptocurrency marketing. This development signals progress towards establishing comprehensive regulations for…
Current Regulations Limit Borrowing to Twice the Risk for Crypto Traders, Prompting Asia Regulators to Explore Crypto-Friendly Policies The Japan Virtual & Crypto Assets Exchange Association (JVCEA) has revealed that industry participants are advocating for an increase in leverage options for retail players, aiming for a range of four to 10 times leverage. Presently, customers…
Mastercard Files Trademark for Crypto and Blockchain Software Facilitating Seamless VASP Connections Global payment technology giant, Mastercard, has generated buzz by filing a trademark application for the development of crypto and blockchain software. This strategic move indicates Mastercard’s interest in exploring and leveraging the capabilities of cryptocurrencies and blockchain technology within its extensive range of…
European states join forces with SEC to investigate Binance while CEO remains steadfast in support of the Crypto Exchange Firm Binance, a leading cryptocurrency exchange, recently faced a lawsuit from the United States Securities and Exchange Commission (U.S. SEC). Interestingly, many members of the crypto community have come together to show their support for Binance…
Binance-founded BNB Chain has unveiled opBNB, a new layer-2 chain, to tackle scalability issues. However, some critics argue that alternative scaling solutions may exist for the network. BNB Chain introduced opBNB on June 19, presenting it as a testnet for their new layer-2 scaling solution. Built on the Optimism OP Stack, it aims to enhance…
The XC Platform: Utilizing Tokenized Assets for Domestic Operations, with or without CBDCs IMF Outlines “New Class” of Cross-Border Payment System, Combining CBDC Transactions and Enhanced Information Management without Requiring a Single Ledger. During a roundtable on CBDC policy, IMF officials unveiled their new platform concept on June 19, in collaboration with the central bank…
A property in Washington, D.C.’s Capitol Hill neighborhood, previously associated with defunct cryptocurrency exchange FTX and its former CEO Sam Bankman-Fried, is on the verge of being owned by unidentified buyers. An updated listing on Realtor.com indicates that the Washington, D.C. property is now listed as “contingent,” indicating that the deal’s handling party has accepted…
Terra Founder Do Kwon and Former CFO Han Chang-joon Sentenced to Four Months in Prison Despite Pleading Not Guilty Terra co-founder Do Kwon and former CFO Han Chang-joon have been found guilty of passport forgery by the Montenegro Basic Court. They have been sentenced to four months in jail. Montenegro authorities accelerate investigations and legal…
It is worth mentioning that there are exchanges in the Netherlands that continue to operate without registration, even though Binance has decided to exit the market. Binance, the world’s largest cryptocurrency exchange, made the news by announcing its departure from the Dutch market. The reason behind this decision was its inability to register as a…
Bangladesh has officially applied to become a member of the BRICS alliance, which includes countries like Brazil, Russia, India, China, and South Africa. The application comes after a meeting between Prime Minister Sheikh Hasina and South African President Matamela Cyril Ramaphosa in Geneva. This decision has important consequences for the global economy and how it…
The platform launched a token aggregator for seamless trading and introduced a complimentary token locker feature for users of the decentralized exchange (DEX). Baby Doge Coin (BABYDOGE), a direct competitor to Shiba Inu, has recently launched its own decentralized exchange (DEX) platform called BabyDogeSwap. This development has opened up new opportunities and services for the…
Fidelity Investments to File Bitcoin ETF Application and Bid for Grayscale Acquisition Fidelity Investments, a leading asset management firm with $4.2 trillion AUM, is reportedly preparing to file a spot Bitcoin ETF, inspired by BlackRock iShares’ spot Bitcoin ETF. Additionally, Fidelity is planning to make an offer to acquire Grayscale Investments, the largest digital asset…
Terraform Labs Founder Do Kwon Denies Forgery and Financial Links in Montenegro Court Breakdown is as under: Claim 1: Do Kwon denies forging travel documentation and financial ties to Milojko Spajić. Kwon asserts that he did not forge any travel documentation or have any financial connections with Milojko Spajić. He claims that the passports he…
Amidst regulatory challenges and a lawsuit filed by the U.S. Securities and Exchange Commission (SEC), Binance CEO has made a significant move by announcing the introduction of Spot DCA (Dollar-Cost Averaging) on the Binance Spot platform. This initiative aims to address the impact of market volatility and prioritize the interests of Binance users during these…
BIS and UK Central Bank Study Reveals Retail CBDC’s Potential for Cheaper and Easier Peer-to-Peer Payments In July 2022, the Bank for International Settlements (BIS) and the Bank of England (BoE) initiated a collaborative experiment to investigate the implementation of application programming interfaces (APIs) in retail central bank digital currency (CBDC) transactions. The purpose was…
In a letter submitted to the Court on June 17, Coinbase’s legal team expressed frustration with the Securities Exchange Commission (SEC) for its failure to provide clear responses regarding Coinbase’s rulemaking petition. The petition urges the SEC to create a regulatory structure for digital assets. According to Coinbase’s lawyers, the SEC has been evasive and…
Elon Musk’s Surprising Final Target Shakes Altcoin Prices in Crypto Market In a recent Twitter announcement, Elon Musk revealed that the well-known automated bot account called “ExplainThisBob” has been suspended. The suspension of this popular bot account has caught the attention of social media users and followers of Elon Musk, sparking discussions and speculation regarding…
Amid market uncertainty, Bitcoin (BTC) has been trading within a consolidation pattern in recent weeks. The uncertainty in the cryptocurrency market was heightened as the United States Securities Exchange Commission (SEC) took legal action against Coinbase and Binance, two prominent cryptocurrency exchanges. The SEC alleged that these exchanges listed unregistered securities. Despite the challenging circumstances,…
Indonesia Approves 501 Tradable Cryptocurrencies, Including BTC, ETH, ADA, XRP, and More The Indonesian government has made an exciting progress in the world of cryptocurrencies. They have just announced a list of 501 cryptocurrencies that can be traded. This is a big step forward in creating a safe and clear system for people in Indonesia…
Following the release of a circular by the Nigerian Securities and Exchange Commission declaring Binance Nigeria Limited as illegal in the country, Binance has now issued a cease and desist notice to a fraudulent Nigerian entity. The regulatory concerns surrounding Binance have led to proactive measures being taken against unauthorized entities operating under its name….
Institutional Buying Boosts GBTC Amid Hopes for BlackRock’s U.S. Bitcoin Spot ETF On June 17, data from monitoring resource CoinGlass revealed that the Grayscale Bitcoin Trust (GBTC) came close to reaching new highs for the year 2023. The GBTC, a prominent investment vehicle for Bitcoin, demonstrated significant upward momentum in its price, reflecting growing interest…
Renowned author Robert Kiyosaki, famous for his best-selling book Rich Dad Poor Dad, has raised concerns about the stability of the banking sector, predicting that more banks are on the verge of failing. Kiyosaki urged investors to exercise independent thinking rather than relying on the guidance of President Joe Biden, Federal Reserve Chairman Jerome Powell,…
Billionaire Businessman Mark Cuban shared his thoughts on Twitter, expressing criticism towards the SEC for its focus on Crypto Companies. Mark Cuban, the billionaire businessman and owner of the Dallas Mavericks, has expressed his criticism of the US Securities and Exchange Commission (SEC) for filing lawsuits against Binance and Coinbase. These two prominent cryptocurrency exchanges…
In a significant step, BlackRock, one of the world’s largest asset managers, is planning to enter the world of cryptocurrency. Larry Fink, the CEO of BlackRock, has applied for a Bitcoin ETF, which holds great importance in the crypto community. With BlackRock managing a massive $10 trillion in assets, this move has the potential to…
Binance CEO CZ is happy and relieved that the disagreement with the SEC has been resolved. Changpeng ‘CZ’ Zhao, the CEO of Binance, shared his joy and relief as the long-standing dispute with the United States Securities and Exchange Commission (SEC) has been resolved. The SEC’s close examination of the company had caused a lot…
“Ripple Lawsuit Takes New Turn with Release of Hinman Speech Files; Summary Judgment Awaited from Judge Torres” The SEC lawsuit against Ripple Labs has witnessed a significant development with the public release of Hinman Speech-related files. Judge Analisa Torres now bears the responsibility of delivering the long-awaited Summary Judgment. The Hinman documents uncovered the SEC’s…
ZachXBT Estimates Legal Fees to Surpass $1M, Alleges MachiBigBrother’s Attempt to Silence Him In a remarkable show of support, the crypto community has rallied behind blockchain investigator ZachXBT, providing him with over $1 million in donations in just over a day. These funds are intended to assist him in his legal defense against a defamation…
Proposed Agreement Addresses SEC’s Motion for Restraining Order. Federal Judge Approves Temporary Agreement: SEC, Binance, and Binance.US Collaborate to Restrict Access to Customer Funds to Local Employees Amid Ongoing Lawsuit. Late on Friday, the involved parties announced an agreement aimed at restricting access to customer funds solely to Binance.US employees for the time being. Judge…
Brad Garlinghouse, Ripple’s CEO, recently launched a scathing critique against the U.S. Securities and Exchange Commission (SEC) and its current chair, Gary Gensler. The criticism primarily revolves around the perceived mishandling of cryptocurrency regulation, reflecting a growing tension between Ripple and the SEC in navigating the regulatory landscape. In response to the unsealing of the…
Delio CEO Announces Phased Withdrawal Resumption Amid Lugpool Controversy, Awaited Dates South Korea’s leading crypto lending firm, Delio, suspended withdrawals just two days ago amidst the Lugpool controversy. However, the company’s CEO has now revealed plans to resume withdrawals gradually. The announcement from Delio aimed to pacify investors, but it did not provide specific information…
Baby Doge Coin Price Surges by Over 6% in 24 Hours, Trends with 1.3M+ Tweets on Twitter Amidst significant regulatory challenges in the cryptocurrency market, notable developments are taking place in the meme coin realm. Baby Doge Coin (BabyDoge), a popular meme token, is currently trending on “Crypto Twitter” due to a remarkable price rally….
The world’s Leading Cryptocurrency Exchange drives Memecoin adoption by introducing Floki to Metaverse and Gaming Sections. Binance, a major cryptocurrency exchange, has expanded the reach of the popular memecoin Floki by including it in specialized categories. The exchange recently announced the addition of $FLOKI to its Metaverse and Gaming sections. As a result, price action…
Binance and Binance.US Propose Stipulation with US SEC to Limit Binance Global Access to Binance.US Wallets and Systems Binance, the largest cryptocurrency exchange globally, and its subsidiary Binance.US have reached a proposed agreement with the US Securities and Exchange Commission (SEC). The agreement is currently awaiting approval from a federal judge. This development signifies a…
3AC Liquidators Accuse Co-Founder Kyle Davies of Negligence and Non-Compliance with Subpoena Liquidators of the defunct hedge fund Three Arrows Capital (3AC) have urged a judge to impose a daily fine of $10,000 on co-founder Kyle Davies. The request comes as Davies is accused of non-cooperation with the investigation into the firm’s collapse, impeding the…
Coinbase’s Chief Legal Officer advocates for Court intervention to compel a response from the SEC regarding the company’s lawsuit. The crypto exchange asserts that the SEC should make a decision within 60 days to prevent unwarranted delays. Coinbase further alleges that the SEC’s actions, perceived as aggressive, have the potential to adversely affect the crypto…
Ukrainian regulators are set to raise taxes on cryptocurrency gains, aligning with EU rules and introducing higher tax rates for crypto profits. Starting in 2024, Ukrainian regulators have revealed their plans to impose an 18% tax on cryptocurrency gains, affecting both individuals and businesses engaged in crypto transactions. This proposed tax increase signals a significant…
Charles Hoskinson, the founder of Cardano, expressed his disapproval of the commotion within the crypto community surrounding the Blackrock Bitcoin ETF application. Hoskinson criticized the excessive noise generated by this development. Blackrock’s journey in the realm of crypto market adoption has been notable, starting with CEO Larry Fink’s description of Bitcoin as an “index of…
Wyre has initiated the winding down process and has announced that interested parties can now inquire about acquiring the company’s assets. San Francisco-based crypto payments firm Wyre has made the decision to shut down its operations after nearly a decade in business. The closure is attributed to the financial difficulties faced during the bear market…
The U.S. derivatives regulator plans a June 26 meeting to discuss initiating a new review of Kalshi’s event contracts for potential approval. On June 26, the Commodity Futures Trading Commission (CFTC) will determine whether to initiate a formal 90-day review of KalshiEX’s contract, which enables users to wager on the political party that will gain…
Lucie introduces @shibcals, the tangible aspect of the Shiba Inu ecosystem. Shytoshi Kusama, the lead developer of Shiba Inu, recently dropped hints about an upcoming physical component. Twitter user @LucieSHIB, a content marketer for the Shiba Inu ecosystem, has shared an extensive teaser about an upcoming feature called the “IRL component” for the SHIB community….