Nigeria’s Securities and Exchange Commission (SEC) has ordered Binance, the largest cryptocurrency exchange globally, to halt its operations in the country. The SEC deemed Binance’s activities as “illegal” since the exchange was not registered or regulated by the commission. This regulatory action highlights the growing scrutiny of cryptocurrency exchanges by authorities around the world. Nigeria’s…
AI revolutionizes crypto analysis as investors turn to tools like Google Bard for reliable insights Bard represents a significant advancement in AI-language models, combining advanced computational techniques with conversational capabilities. In our discussion today, we will utilize Bard’s predictive abilities to inquire about the future prospects of Tether and Tradecurve. Google Bard predicts bullish outlook…
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…
SHIB Token Burn Surges to Record Levels, Defying Market Trends: Price Dip Coupled with Skyrocketing Burn Rate Points to Scarcity-Driven Growth and Hope in Bearish Market Amid the unpredictable nature of the cryptocurrency realm, Shiba Inu (SHIB) stands out by defying the norm with a remarkable 4,181% surge in its burn rate. In just 24…
Exchange Witnessed a 208% Surge in Deposits; Binance Records $3.128 Billion Net Outflow: DefiLlama Legal action by U.S. authorities against Binance and Coinbase, leading cryptocurrency exchanges, has resulted in a surge of users from Latin America turning to Bitget. Notably, Bitget reported a significant 43% increase in new users from June 6 to 9 in…
“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…
New Rules Make it Easier for People and Businesses to Own and Trade Digital Assets in the US Senator Cynthia Lummis Continues to Advocate for Favorable Crypto Regulations in the US, Citing Urgency due to Cryptocurrency’s Growing Popularity and Advancements. Crypto Twitter Applauds Lummis as She Expresses Dedication to Creating Rules for Easy Digital Asset…
Hong Kong Cultivates Favorable Environment for Industry Growth, Positioned as Digital Hub with Active Regulation Hong Kong’s leaders welcome Coinbase and other crypto exchanges to set up shop, showing support for cryptocurrencies. They want to create a good environment where the industry can grow. Johnny Ng, a member of Hong Kong’s Legislative Council, showed his…
The Organization for Economic Cooperation and Development (OECD) has recently implemented a dedicated tax framework aimed at addressing the unique challenges posed by cryptocurrencies. This new framework is specifically designed to provide clear guidelines and regulations for taxation in the crypto industry. By introducing this framework, the OECD aims to promote transparency, compliance, and a…
The 20th cycle of the program took place from March 1, 2023, to May 31, 2023. During this period, the price of OKB was $41.57, reflecting a decline of 7.82%. OKX, a cryptocurrency exchange based in Seychelles, recently finished the 20th cycle of its Buy-Back and Burn program. As part of this program, approximately 5.5…
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…
Cryptocurrencies, particularly lesser-known altcoins outside the top 10 by market capitalization, remain difficult for the general public to access, prompting the rise of new cryptocurrency ATMs As cryptocurrencies attract more attention, such as the European Union’s recent MiCA regulation and the significant gains of memecoins, a major issue persists: the lack of easy access for…
Cumberland, Chicago-based Crypto Trading Firm, Transfers $9.8M Worth of MATIC to Binance and Coinbase Cumberland Transfers 9 Million MATIC Tokens Worth $6.3M to Binance and 5 Million MATIC Tokens Worth $3.5M to Coinbase within 7 Hours, Reveals Lookonchain Data. Over the past 16 hours, #Cumberland has deposited 9M $MATIC ($6.3M) into #Binance and 5M $MATIC…
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…
Crypto Coins and Tokens Experience Significant Losses Amid Market Downturn In a notable downturn, the crypto market experienced a substantial decline this morning, impacting a wide range of altcoins. The market saw heavy losses across various cryptocurrencies, indicating a significant shift in investor sentiment. This downward trend reflects the current volatility and uncertainty prevailing in…
Allegations of Tokens as Securities Spark Risk-Off Sentiment Among Traders In the wake of the recent U.S. Securities and Exchange Commission (SEC) lawsuit against cryptocurrency exchanges Binance and Coinbase, tokens from major blockchain networks experienced a significant decline of over 20% within the last 24 hours. This downward movement can be attributed to a possible…
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…
Shiba Inu (SHIB) Flourishes Despite Robinhood Delisting Cryptocurrencies Robinhood, a widely used American trading platform, recently made headlines by delisting numerous cryptocurrencies from its platform. Despite this decision, Shiba Inu (SHIB), the prominent canine-themed cryptocurrency, remains unscathed. SHIB has not only sustained its upward trajectory but has also witnessed a surge in price accompanied by…
Custodia Denied Immediate Membership with Federal Reserve, Can Pursue Other Channels Custodia’s legal challenge against the Federal Reserve Bank of Kansas City’s denial of access to Fed banking services for the crypto-friendly bank has received a favorable ruling. On Thursday, a U.S. district court rejected a motion by the Federal Reserve to dismiss the case,…
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…
Regulatory Triumph Highlights Legal Accountability for Decentralized Entities, Dispelling Common Assumptions In a significant legal outcome, a federal judge has ruled in favor of the U.S. Commodity Futures Trading Commission (CFTC) in a lawsuit where decentralized autonomous organization (DAO) Ooki DAO was accused of offering unregistered commodities. This decision has effectively challenged the widespread belief…
BNB’s open interest surged by almost $30 million within the initial nine hours of June 5 Timing is crucial in trading, and it seems that certain traders executed strategically timed sell orders for BNB tokens, anticipating the significant SEC crackdown on crypto exchange Binance on June 5. According to data from TradingView, the BNB/USDT order…
Texas Legislature Approves Bills Impacting Bitcoin Mining Industry Texas Legislature Makes Progress in Bitcoin Mining Legislation. The 88th session of the legislative body has seen the approval of several bills aimed at enhancing the attractiveness of Texas for local bitcoin miners. These legislative measures are expected to have a positive impact on the state’s crypto-mining…
Later this month, Robinhood, the popular trading platform, announced its intention to delist Cardano (ADA), Polygon (MATIC), and Solana (SOL) In response to the increased regulatory scrutiny on cryptocurrency exchanges such as Coinbase and Binance, Robinhood has made the decision to discontinue support for Cardano (ADA), Polygon (MATIC), and Solana (SOL). These three tokens, considered…
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…
PEPE, the meme coin, defies market downturns with a remarkable 6% surge today. Investors capitalize on the dip, driving PEPE’s value to new highs. Currently priced at $0.00000118, PEPE records a 24-hour trading volume of $110,160,258. Pepe coin price | Source: CoinGecko Pepe coin witnesses a notable 6.4% surge in just 24 hours, accompanied by a…
Dubai-based Bybit, the third most visited cryptocurrency exchange globally, has unveiled a co-branding partnership with Swiss luxury watch manufacturer Franck Muller. This collaboration aims to bring together the worlds of cryptocurrency and luxury watches in a unique and innovative manner. The partnership between Bybit and Franck Muller seeks to demonstrate the harmonious synergy between their…
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…
Whale Alert’s Friday report revealed that millions of dollars’ worth of Shiba Inu (SHIB) tokens, amounting to 4 trillion in total, were transferred from Shiba Staking to the cryptocurrency exchange Binance The substantial unstaking of Shiba Inu tokens has sparked speculation within the community regarding the possibility of another price liquidation for SHIB. In a…
The draft bill, scheduled for discussion before the House committee on June 13, has the potential to become the pioneering crypto legislation in the United States, if it receives approval. The United States House Financial Services Committee, under the leadership of Representative Patrick McHenry, has unveiled the third draft of the stablecoin bill. This bipartisan…
Bipartisan Bills Proposed by US Senators Aim to Enhance Government Transparency in AI Use and Establish an Office for Monitoring Innovation US lawmakers have introduced two bipartisan bills aimed at addressing transparency and promoting innovation in artificial intelligence (AI). Democratic Senator Gary Peters, along with Republican Senators Mike Braun and James Lankford, introduced a bill…
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…
In light of regulatory scrutiny, Binance.US will suspend USD payment channels by June 13 On June 9, Binance.US made an announcement stating that it will temporarily operate as a cryptocurrency-only exchange. This decision follows the suspension of USD channels by its payment and banking partners. The suspension occurred due to the Securities and Exchange Commission…
Recent events have unfolded involving legal action by the Securities and Exchange Commission (SEC) against two major cryptocurrency exchanges On June 5, the SEC filed a lawsuit against Binance, claiming that they mishandled customer funds and misled regulators and traders. The following day, the SEC accused Coinbase of operating without proper registration as a stockbroker,…
Exciting news! Kraken, a popular crypto exchange, is launching its NFT Marketplace on the Polygon network The marketplace is now out of beta and ready for artists and NFT enthusiasts to explore. With the integration of the Polygon blockchain, users will have access to over 250 collections. Also Read: CZ Denies Allegations of Binance User Fund…
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…
The President of Polygon Labs highlights the importance of making the internet accessible to everyone through Web3 technology. Wyatt emphasizes that regulatory alignment is vital for the United States to stay competitive in the blockchain industry On June 7, the United States House of Representatives Energy and Commerce held a meeting to discuss the future…
UK regulators, the Financial Conduct Authority (FCA), have prohibited crypto incentives. The number of people owning cryptocurrencies in the UK has doubled from 2021 to 2022 The UK’s Financial Conduct Authority (FCA) has suggested strict new rules for marketing, including a ban on incentives related to cryptocurrencies. These rules are designed to safeguard individual investors…
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…
Terra Classic’s Monumental v2.1.0 Parity Upgrade Proposal by Core Developer Joint L1 Task Force Officially Approved. Will LUNC Price Reach $1 Next? The Terra Classic community has demonstrated overwhelming support for the v2.1.0 Parity upgrade proposal put forth by the core developer group Joint L1 Task Force (L1TF). Following the community’s unanimous backing, the proposal…
Binance Pay has teamed up with Credencial Payments to improve digital cryptocurrency payments in LATAM. CZ, the CEO of Binance, shared this news on Twitter Binance Pay has partnered with Credencial Payments, a payment solution provider in Latin America (LATAM), to enhance the availability of digital currencies in the region. Binance CEO CZ shared the…
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…
Bureau Européen des Unions de Consommateurs (BEUC) Urges Instagram, YouTube, TikTok, and Twitter to Ban Crypto Promotion by Influencers The complaint stated that national regulators should enforce stricter policies on social media networks, demanding a ban on influencers promoting cryptocurrencies. Monique Goyens, the Director General, highlighted that consumers are often enticed by “get rich quick”…
Currently, Bitcoin, the largest cryptocurrency based on market capitalization, is being traded at approximately $26,467.31. On the other hand, BNB is being traded at around $1,844.69 Following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance, the leading cryptocurrency exchange, a district court in the United States has issued a summons to Binance’s founder…
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…
If successful, this wouldn’t mark the state’s first intervention in thwarting a crypto bankruptcy proposal Bankrupt cryptocurrency exchange Bittrex’s plan to return customer funds in cash and cryptocurrency is met with a legal challenge from the United States. The U.S. government, which is owed millions for sanctions violations, filed a court document on Wednesday opposing…
Binance Requests Recusal of SEC Chair Gary Gensler Due to Past Relationship with the Exchange and Its Founder During a meeting with SEC officials on June 4, lawyers representing Binance highlighted an intriguing aspect of SEC Chair Gary Gensler’s past. They revealed that in a previous capacity, Gensler had acknowledged the challenges of regulatory uncertainty…
South Korean Senior Prosecutor Dan Sunghan Advocates Extradition of Do Kwon, Suggests Possibility of Dual Incarceration in the US A senior South Korean prosecutor leading the investigation has indicated that Do Kwon, the co-founder and CEO of Terraform Labs, could potentially face multiple sentences in both the United States and South Korea. Presently, Kwon is…
James Roberts, General Manager of Group Fraud Management Services at Commonwealth Bank, highlights significant “investment scams” linked to crypto exchanges. Australia’s largest bank, Commonwealth Bank (CBA), has announced its decision to refuse or temporarily delay payments to cryptocurrency exchanges due to concerns about fraudulent activities. In a statement on June 8, CBA stated that it…
Ryan Selkis Praises New Crypto Bill for Clear Compliance Path in Coinbase’s Twitter Space on June 7 During a Twitter Space hosted by Coinbase on June 7, Messari CEO Ryan Selkis expressed his admiration for a newly proposed Republican crypto bill, describing it as a remarkable “10x improvement” compared to previous crypto bills presented in…