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…
Based on the obtained documents, it has been revealed that the Chief Executive Officer (CEO) of Binance, Changpeng Zhao (CZ), has been summoned by a United States court to provide Testimony This development marks a significant legal procedure involving CZ and highlights the growing regulatory scrutiny faced by the cryptocurrency exchange. Following the recent lawsuit…
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…
As the price plummets, the funds of the hacker who illicitly acquired 1 million BNB tokens last year now face a perilous risk of liquidation The perpetrator behind the theft of approximately 2 million BNB altcoins, valued at around $600 million, from the Binance Smart Chain Bridge in October 2022, now faces the looming threat…
Cardano (ADA), Solana (SOL), and Polygon (MATIC) Face Regulatory Uncertainty and Compliance Concerns in the US In the recent lawsuit initiated by the United States Securities and Exchange Commission (SEC) against Binance, the SEC has categorized a number of well-known cryptocurrencies, including Cardano (ADA), as securities. Nevertheless, the CEO of the Cardano Foundation has expressed…
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…
Coinbase contends that the existing regulations are ill-suited for digital assets. The SEC has been given a deadline of one week to clarify its position regarding Coinbase’s petition The Third Circuit Court of Appeals has summoned the U.S. Securities and Exchange Commission (SEC) to provide further clarification regarding its position on a rulemaking petition submitted…
Blockchain Association CEO Kristin Smith Criticizes SEC’s Regulatory Approach as ‘Unacceptable’ Despite Anticipated Anti-Crypto Stance The crypto industry professionals have voiced their reactions to the recent actions taken by the United States Securities and Exchange Commission (SEC) against two major cryptocurrency exchanges, Binance and Coinbase. On June 5, the Securities and Exchange Commission (SEC) initiated…
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)…
According to the Montenegro Prime Minister, Terra founder Do Kwon allegedly has political ties with Milojko Spajić, the President of the Europe Now political party. According to outgoing Prime Minister Dritan Abazović, outgoing Justice Minister Marko Kovac, and the Special State Prosecution Office, Terra co-founder Do Kwon is alleged to have political ties with a…
Volcano Energy, a renewable energy developer, has announced that the funds will be utilized for the establishment of a power generation park with an estimated capacity of 241 MW The public-private partnership in El Salvador, aimed at establishing a Bitcoin mining farm, has received its initial investment of $250 million out of a total $1…
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…
While the U.S. House of Representatives committee has not revealed all the specific topics, there is anticipation within the community that the upcoming hearing will delve into crucial matters within the cryptocurrency space The United States House of Representatives Financial Services Committee has taken the initiative to schedule a hearing specifically focused on cryptocurrencies. The…
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…
SEC’s strict regulations on crypto aim to control and regulate the market, potentially leading to a significant transformation and solidifying the agency’s power in the cryptocurrency industry According to Reuters, if the SEC’s cases against Binance and Coinbase are successful, it could bring about a revolution in the crypto market, as the agency would establish…
Optimism Mainnet Successfully Completes Migration to Bedrock, Key Infrastructure Restored. Deposits and Withdrawals Now Open. Optimism has introduced a significant upgrade in the form of a hard fork, with the triggering mechanism based on a timestamp rather than a block number. This important update is expected to bring notable improvements to Optimism’s scalability, security, and…
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…
Louis Vuitton to Launch $41,712 NFTs for Elite Clients, “Treasure Trunks” Louis Vuitton’s exclusive NFT series, called “Treasure Trunks,” draws inspiration from their iconic luggage trunks. With just a limited quantity of a few hundred NFTs available, each “Treasure Trunk” NFT will be accompanied by a custom-made physical Louis Vuitton trunk, known for their high…
The SEC has filed a motion requesting a Temporary Restraining Order and preliminary injunction against Binance US, aiming to freeze corporate assets Binance US swiftly responded, assuring users that their assets are secure, and the platform remains fully operational. Deposits and withdrawals are functioning normally despite the regulatory action. Simultaneously, Binance US expressed its belief…
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….
Turbos Finance, an initiative within the Sui ecosystem, has introduced a pioneering smart routing system tailored for the Sui-Move language This groundbreaking advancement marks a significant milestone as the first-ever implementation of such a system for a Sui decentralized exchange (DEX) in production. With its focus on capital-efficient swaps, this innovation holds great promise for…
US SEC Chairman Gary Gensler: “We Have No Need for Additional Digital Currency” The global digital asset market was rocked by consecutive shockwaves from the U.S. Securities and Exchange Commission (SEC) as it filed lawsuits against Binance and Coinbase for allegedly operating unregistered securities exchanges. Furthermore, SEC Chair Gary Gensler further intensified the assault on…
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…
Binance Witnesses Over $1 Billion Outflow in 24 Hours Following SEC Lawsuit, Despite Massive 44M USDT Deposit SEC vs Binance Lawsuit Triggers Cryptocurrency Market Turmoil: $52.7 Billion Lost in One Hour: The impact of the SEC vs Binance lawsuit has reverberated through the cryptocurrency market, leading to significant consequences. In a startling development, the market experienced…
Navigating the crypto market, which encompasses both meme coins and mainstream cryptocurrencies, requires careful consideration to seize potential opportunities. Yet, with economic uncertainties and the ongoing debt ceiling crisis, the possibility of market downturn remains a concern. To safeguard your portfolio for the future, it is worth exploring why Collateral Network (COLT), Shiba Inu (SHIB),…
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…
LBank Exchange, a renowned global digital asset trading platform, has announced its plans to list Switch (SWITCH) on June 8, 2023. This listing marks a significant milestone for the SWITCH Token as it is the first time it will be available on a Centralized Exchange. Starting from 4:00 UTC on June 8, 2023, all users…
Report Indicates 12% Decrease in Bitcoin Held on Exchanges, Ether Supply Shows Marginal Increase In a report released on Monday, Goldman Sachs (GS) highlighted the mixed adoption trends of bitcoin (BTC) and ether (ETH) based on on-chain statistics for May. The report revealed that changes in ether balances among different groups remained relatively stable. However,…
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…
In response to the SEC’s actions, the Cardano chief has dubbed it “Operation Chokepoint 2.0,” highlighting the potential implications on the industry He characterized the situation as a battle between “freedom and authoritarianism,” emphasizing the importance of unity among crypto industry players in the face of regulatory challenges. The recent SEC lawsuit targeting Binance has…
Robinhood, Coinbase, and CFTC Scheduled to Testify in Congress Following Introduction of Game-Changing Crypto Bill Amidst Price Pump Aiming to bring regulatory clarity to the Bitcoin and cryptocurrency industry, U.S. lawmakers have introduced a “functional framework” proposal. In the midst of a significant price surge that has contributed $350 billion to the crypto market in…
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…
Data from CryptoQuant indicates that the significant withdrawals witnessed in the wake of the Binance lawsuit represent only a fraction of the exchange’s total reserves, showcasing the relatively minor impact on its overall holdings. Following the Securities and Exchange Commission’s (SEC) lawsuit against Binance and its founder Changpeng “CZ” Zhao for purported violations of federal…
The insolvent lender granted additional time to submit a bankruptcy exit plan, now due by August 2 At a bankruptcy hearing on Monday, U.S. Bankruptcy Court Judge Sean Lane granted an extension to the mediation period between crypto lender Genesis and its creditors. The decision came as tensions escalated regarding the involvement of Genesis’ parent…
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…
Justin Sun is confident in the ability of Binance’s CEO to handle the SEC’s lawsuit, and the crypto community is showing strong support for Binance’s CEO. The U.S. Securities and Exchange Commission (SEC) has sued Binance, the largest cryptocurrency exchange, and its CEO Changpeng Zhao (CZ) for violating securities regulations. After a period of silence,…
Binance Lawsuit: SEC’s Recent Action Identifies Over 60 Cryptocurrencies as Securities, Impacting $100 Billion in Token Value Following the inclusion of additional cryptocurrencies in its lawsuit against Binance, the United States Securities and Exchange Commission (SEC) has expanded the total number of cryptocurrencies designated as securities to approximately 61. Over the years, the SEC has…
The Securities Regulator Alleges Binance Illegally Operated as Unregistered Securities Exchange in the US On June 5, the United States Securities and Exchange Commission (SEC) took legal action against Binance, its U.S. platform, and CEO Changpeng Zhao (CZ) by filing a lawsuit in the District Court for the District of Columbia. The SEC alleges that…
CZ Offers Initial Response to SEC Lawsuit Against Binance and Himself In a report by Bloomberg, it was revealed that the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance and its CEO CZ, alleging violations of securities laws. CZ, in response to this development, took to his Twitter account and stated: “Our…
With the recent removal of crypto trading restrictions for individual investors in Hong Kong on June 1st, the investment community eagerly awaits further updates and future plans. Hong Kong’s Financial Services and Treasury Secretary, Xu Zhengyu, delivered significant statements on June 5th regarding the latest advancements and measures taken in the fintech and other innovative…
In a revolutionary shift underscoring Ethereum’s expanding decentralization, a remarkable surge in Ethereum tokens flowing into self-custody and decentralized finance (DeFi) avenues has emerged. This trend has resulted in an extraordinary milestone, with the top ten non-exchange addresses now possessing an astounding 31.8 million ETH. This unprecedented accumulation sets a new record, representing an astonishing…
During a recent interview with Bankries, Changpeng Zhao, the highly respected CEO of Binance, expressed a positive outlook regarding the future of cryptocurrencies, also known as virtual assets. With confidence, he asserted that the current frenzy surrounding meme coins should be seen as an encouraging sign of the cryptocurrency market’s revival. Zhao attributed the immense…
According to a report by Reuters, a high-ranking executive at Binance, who is closely associated with CEO Changpeng Zhao (CZ), allegedly managed and controlled five bank accounts that were linked to the independent United States arm of the cryptocurrency exchange. The executive’s involvement in the financial affairs of the US arm raises concerns about potential…
In a recent interaction with Microsoft’s latest AI, Bing, I sought a price prediction for Shiba Inu, the popular cryptocurrency. Meanwhile, there is significant excitement surrounding Tradecurve.io, a project currently in its presale phase. Investors are showing strong bullish sentiment towards the platform, which offers a hybrid trading model built on the blockchain. This innovative…
Despite a short-term downtrend, Litecoin ignites bullish sentiment in the cryptocurrency market as investor interest continues to rise With Litecoin’s highly anticipated third halving approaching, the cryptocurrency is generating significant attention and excitement. Recent network activity indicates a surge in investor interest. Despite a downtrend in price over the past 24 hours, positive on-chain metrics…
Despite the firm’s claim, numerous customers have reported financial losses, with no details provided about the recovery method According to Atomic Wallet’s claim, less than one percent of their monthly active customers were impacted by the $35 million theft since June 2. The company has joined forces with independent blockchain investigators to intensify their efforts…
JPMorgan is collaborating with Indian banks to launch a pilot project that enables efficient interbank dollar trade through blockchain technology JPMorgan Chase and Co., in partnership with six Indian banks, has launched a blockchain-based platform for interbank dollar transactions. This initiative supports India’s efforts to establish the Gujarat International Finance Tec-City (GIFT City) as a…
The growth was driven by the decentralized finance (DeFi) and gaming sectors, with gaming contributing to 36% of overall dapp usage and 711,913 daily unique active wallets (dUAW) According to the monthly industry analysis conducted by DappRadar, the decentralized app (dapp) market experienced a significant 9.97% growth in May. The report highlights that the average…