Crypto News
Binance is Considering Multiple Jurisdictions for Headquarters: CEO
Binance, the world’s largest cryptocurrency exchange, is currently in discussions with several jurisdictions regarding the selection of its official headquarters, according to CEO Richard Teng. During a fireside discussion at Paris Blockchain Week, Teng emphasized that the decision-making process is complex and involves a multitude of factors that must be carefully considered. Key points: Teng …...
Bitcoin Faces Potential Correction Around BTC Halving: Arthur Hayes
Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, has cautioned that Bitcoin (BTC) may face selling pressure in the days surrounding the mining-reward halving scheduled for April 20. Despite the event being widely considered bullish for the cryptocurrency, Hayes believes that the well-entrenched narrative could lead to a price correction. Key points: Hayes …...
Binance Executive Pleads Not Guilty to Money Laundering Charges
Tigran Gambaryan, a Binance executive who was detained by Nigerian authorities alongside his colleague Nadeem Anjarwalla, pleaded not guilty to money laundering charges at a high court on Monday. Local reports state that Gambaryan, the head of Binance’s financial crime compliance, is on remand until trial, with the option to request bail until April 18. …...
Jury Finds Terraform Labs and Do Kwon Guilty of Crypto Fraud
A jury in the United States District Court for the Southern District of New York has found Terraform Labs and its co-founder, Do Kwon, liable for defrauding investors in crypto asset securities. The verdict, delivered after a nine-day trial, marks a significant victory for the Securities and Exchange Commission (SEC) in its efforts to regulate …...
FTX Bankruptcy Estate Sells Majority of $2.6 Billion Solana Token Hoard
The bankruptcy administrators of the collapsed cryptocurrency exchange FTX have sold approximately two-thirds of a $2.6 billion stash of Solana (SOL) at a heavily discounted price. The deal attracted interest from prominent industry players such as Galaxy Trading and Pantera Capital. According to the details shared by Bloomberg, the deal saw between 25 million and …...
PayPal Introduces Fee-Free Cross-Border Money Transfers Using PYUSD Stablecoin
PayPal has announced a new feature that allows U.S. users to fund cross-border money transfers using USD converted from its native stablecoin, PayPal USD (PYUSD). The service, powered by PayPal’s money transfer platform Xoom, enables users to send money to friends and family in approximately 160 countries without incurring any Xoom transaction fees. Key points: …...
Ethereum May Lessen Chances of ETH Being Classified as a Security: JPMorgan
Analysts at JPMorgan have noticed a continued decrease in staking platform Lido’s share of staked Ethereum (ETH). The analysts believe this should alleviate concerns about concentration in the Ethereum network. In a research report released on Wednesday, the analysts, led by Nikolaos Panigirtzoglou, highlighted that this trend could potentially reduce the likelihood of ETH being …...
Ripple Unveils Plans to Launch USD-Pegged Stablecoin on XRP Ledger
Ripple, the enterprise-focused blockchain service, has announced its intention to introduce a new stablecoin pegged to the U.S. dollar later this year. The stablecoin will initially be deployed on the XRP Ledger and the Ethereum blockchain. Key points: Ripple anticipates a clear demand for stablecoins that offer trust, stability, and utility as the stablecoin market …...
Coinbase Receives Restricted License in Canada Amid U.S. Regulatory Challenges
Coinbase achieved a significant milestone in its global expansion efforts by obtaining a registration license in Canada. Canadian Securities Administrators (CSA) has registered Coinbase as a restricted dealer, as the company recently informed CNBC. This authorization allows Coinbase to operate legally in the country and deepens its international presence as it faces regulatory hurdles in …...
Google Sues Alleged Chinese Scammers for Cryptocurrency Fraud
Alphabet Inc.’s Google has filed a lawsuit against two individuals based in China. The tech giant accused them of using the company’s platforms to distribute and advertise fraudulent cryptocurrency apps, according to Bloomberg. The lawsuit, filed in federal court in New York on Thursday morning, alleges that the defendants engaged in racketeering, violating the Racketeer …...
Coinbase Warns of Hidden Risks to Ethereum Network Stability
The rapidly growing EigenLayer protocol, spearheading the rise of restaking on the Ethereum blockchain, has the potential to become a crucial component of the ecosystem’s infrastructure. However, a recent research report by Coinbase highlights the hidden risks associated with this emerging sector. The report also points out that it could threaten the stability and security …...
U.S. Government Moves $2 Billion in Silk Road Bitcoin
The U.S. government has reportedly transferred 30,175 Silk Road Bitcoin to a wallet associated with Coinbase. The transaction, which took place late Tuesday morning, is valued at approximately $2 billion based on BTC’s current price of around $65,000 per coin. Key points: Also read: Crypto Funds Bounce Back With $862,000,000 Inflows The massive movement of …...
Crypto Funds Bounce Back with $862,000,000 Inflows
Crypto funds have experienced a significant rebound in sentiment, with inflows reaching $862 million last week. The inflow has nearly erased the previous week’s record outflows of $931 million, according to a recent report by CoinShares. The report notes that ETF activity is slowing down, with daily trading turnover now at $5.4 billion, a 36% …...
Dormant Bitcoin Wallet Transfers $35 Million Worth of BTC After 12 Years
A Bitcoin wallet that has been inactive for 11.7 years has suddenly sprung to life. The wallet has transferred its entire balance of 500 BTC, worth just under $35 million at current prices, to multiple new addresses. Key points: According to data provided by Lookonchain, a blockchain analytics platform, the wallet in question originally received …...
Solana Foundation Weighs In on Racist Meme Coin ControversyÂ
The recent proliferation of meme coins on the Solana blockchain with racist themes and offensive names has ignited a heated debate within the cryptocurrency community. During a panel discussion at the BUIDL Asia summit in Seoul, experts weighed in on the issue. They discussed whether wallet apps, decentralized exchanges, and nodes should take steps to …...
UK Judge Freezes $7.6M of Craig Wright’s Assets Amid Satoshi Nakamoto Claim Fallout
A UK judge has approved the freezing of £6 million ($7.6 million) worth of assets belonging to Craig Wright. Wright is an Australian computer scientist who claimed to be Satoshi Nakamoto, the creator of the Bitcoin network. Judge James Mellor issued the court order to stop Wright from moving his assets offshore and avoid court …...
Ethereum Co-Founder Vitalik Buterin Calls for Positive-Sum Meme Coins
In a recent blog post, Ethereum co-founder Vitalik Buterin called for a more positive approach to meme coins and crypto games. Buterin also urged developers to create projects that contribute positively to the ecosystem and the world at large. Buterin’s post comes amidst growing concerns about the rise of meme coins, particularly on the Solana …...
Detained Binance Executive Sues Nigerian Authorities
Tigran Gambaryan, a detained executive from the global cryptocurrency exchange Binance, has filed a lawsuit against Nigeria’s National Security Adviser and the Economic and Financial Crimes Commission (EFCC). Gambaryan accused the government of allegedly violating his basic human rights. Local sources state that Gambaryan’s move alleges violations of the Nigerian constitution in relation to his …...
US and UK Investigate $20B USDT Transactions Linked to Russia’s Garantex
The US and the UK are currently reviewing more than $20 billion worth of USDT transactions that have passed through Garantex, a Russia-based crypto exchange, according to Bloomberg. This investigation is part of the ongoing efforts by the allies to clamp down on sanctions evasion that has been supporting Russian President Vladimir Putin’s war in …...
$336.3M Lost in Crypto Hacks and Fraud in Q1 2024: Immunefi
In a recent report, Immunefi, a leading web3 bug bounty and security services platform, stated that the crypto ecosystem experienced a 23.1% decrease in losses during the first quarter of 2024 compared to the same period in 2023. Despite this decline, the report highlights that the industry still lost $336.3 million to hacks and fraud …...
