Category: Breaking News

The Shiba Inu Burn Twitter account, known for engaging the crypto community and updating on SHIB burn rates, was unexpectedly suspended. This has raised concerns about Twitter’s moderation transparency and ignited speculation on the impact on Shiba Inu coin’s performance.

Cardano Founder Charles Hoskinson revealed his past work with Ripple while addressing the recent classification of Cardano as a “Security” by the U.S. SEC. This raises concerns for the Cardano community and emphasizes the importance of ensuring compliance with SEC guidelines. Ripple’s accomplishment in enabling decentralized currency transactions marks a significant step in blockchain technology, driving growth and innovation in the industry.

Creditors have accused crypto market maker Wintermute of facilitating “wash trading” to manipulate CEL token prices for the bankrupt cryptocurrency lending platform Celsius. The allegations highlight the potential manipulation of trading volumes in the crypto market, emphasizing the need for transparency, trust, and regulatory measures to ensure market safety and stability.

The SEC has approved the first leveraged Bitcoin futures ETF, Volatility Shares 2x Bitcoin Strategy ETF (BITX), set to launch on the CBOE BZX Exchange. This milestone brings optimism to the crypto world, despite lingering doubts and questions about the SEC’s stance on digital assets.

Rumors claiming Eminem sold his Bored Ape NFT are unfounded, as blockchain records show it remains in his possession. Despite struggling NFTs and downward market trends, Eminem’s Bored Ape received a current best offer of 35 wrapped ether, roughly $67,000.

Bitcoin recently reached a one-year high of over $31,000, with factors such as BlackRock’s application to launch a spot ETF fueling interest. However, skepticism arises as concerns about market sustainability and volatility remain. The rise in value signals growing cryptocurrency adoption, but investors must carefully weigh risks and rewards while navigating this landscape.

After Prime Trust insolvency, traders are shorting stablecoin TrueUSD (TUSD) despite TUSD denying exposure to Prime Trust. TUSD’s Curve Pool reserves hit 61% and short bets continue to rise. Investors must carefully assess risks surrounding TUSD’s connection to Prime Trust and its ability to maintain its $1 peg before making decisions.

The now-collapsed Silicon Valley Bank (SVB) reportedly had Circle as its single largest asset-weighted customer, holding $3.3 billion at the time of collapse. The incident raises questions about stablecoins like Circle’s USDC and underlines the importance of due diligence and contingency planning in the crypto industry.

SEC Chair Gary Gensler is under investigation by the regulator’s ethics committee due to his alleged connection with Sam Bankman-Fried, founder of the now-bankrupt FTX Derivatives Exchange. This probe revolves around an unapproved Zoom call between them, raising concerns about transparency and fairness in the crypto market.

Haru Invest, a South Korean crypto yield platform, has terminated contracts for over 100 employees amid operational issues. The company cited withdrawal pause and issues with external management company B&S Holdings as reasons for minimizing operations, and plans to cooperate with authorities to resolve legal actions taken against them.

FTX has filed a lawsuit to recover $700 million in funds transferred to investment firm K5 Global and its co-owners, alleging inadequate value and potentially avoidable transfers. The recovery and potential sale of Anthropic’s stake could impact the blockchain’s future, addressing concerns about safety and transparency, while driving innovation in technology.

Crypto.Com has obtained a Virtual Asset Service Provider (VASP) license from the Bank of Spain, indicating progress towards a regulated environment for digital assets in Europe. However, inconsistencies in regulatory treatment of exchanges like Binance raise concerns about uneven application of rules and impacts on market stability and adoption.

The recent court filing against FTX’s Alameda Research highlights the importance of managing finances, maintaining strict corporate guidelines, and ethical resource management in the volatile blockchain and cryptocurrency industry. The case serves as a reminder to conduct proper due diligence in large-scale crypto investments as the industry evolves towards a more technology-driven global economy.

El Salvador’s Bitcoin City project is progressing, with the construction of Pacífico Airport (Bitcoin City Airport) underway. Utilizing geothermal power for energy, the government envisions a tax-free, BTC-oriented environment. However, concerns regarding environmental impact, community relocation, and risk remain, highlighting a complex reality in pursuing a blockchain future.

Core Scientific seeks reorganization under Chapter 11 bankruptcy law, converting creditor debt into a 97% ownership stake. The restructuring plan aims to eliminate hundreds of millions in debt while retaining partial ownership for current shareholders. However, the success of the plan is uncertain.

The OceanGate Titan submarine’s disappearance has led to crypto enthusiasts placing bets on Polymarket, raising concerns about the ethics of gambling on people’s lives. This highlights the darker side of blockchain technology, emphasizing the need for responsible use.

The collapse of the acquisition between BitGo and Prime Trust highlights inherent risks and instability in the crypto banking industry. With setbacks generating significant concern about the stability and regulatory standing of crypto banks, investors and participants must remain vigilant and cautious when dealing with related ventures.

Despite facing a recent SEC lawsuit, Coinbase CEO Brian Armstrong envisions the exchange as a global “super-app” driving the Web3 economy. This decentralized app could revolutionize finance and digital asset interactions but may face regulatory scrutiny, potentially hindering its growth and impact on mainstream blockchain adoption.

Wallet infrastructure provider BitGo announced the sudden termination of its acquisition of fintech infrastructure provider Prime Trust, only two weeks after revealing its non-binding letter of intent. This development follows rumors about a possible cease and desist order received by Prime Trust and its payments subsidiary Banq filing for bankruptcy protection.

BitGo terminated its plans to acquire Prime Trust, a US-based crypto company, citing ongoing issues with Prime Trust’s deposits. This development raises questions about the future of mergers and acquisitions in the crypto industry, highlighting the importance of regulation and oversight for the sector’s stability and growth.

Xapo, a Gibraltar-based private bank, plans to expand its crypto-friendly services across India and South Asia, offering crypto users services like USD offshore savings accounts and bitcoin wallets. Despite regulatory challenges, this move indicates growing global interest in cryptocurrencies and the potential for shaping the future of finance.

South Korean crypto yield platform Haru Invest is terminating contracts of over 100 employees, following its suspension of withdrawals and deposits due to service partner issues. The company’s struggle to maintain normal operations led to this decision, raising concerns among crypto enthusiasts and users regarding platform stability and user trust.

Crypto veteran Leon Marshall joins Galaxy Digital as global head of sales, bringing valuable experience from Gnosis, CryptoCompare, UBS, and JPMorgan Chase. Despite recent challenges, Marshall remains optimistic about the digital asset industry’s future and Galaxy’s role within.

Tesla CEO Elon Musk and Meta CEO Mark Zuckerberg prepare for a potential cage fight following a heated online exchange about Meta’s decentralized social network plans. Amidst the excitement, it’s vital for crypto enthusiasts and investors to remain focused on market research and informed decision-making.

Ripple received in-principle approval for the Major Payments Institution License in Singapore, allowing it to offer regulated digital payment token products and services. This move expands the use of Ripple’s On-Demand Liquidity service and reinforces its commitment to engaging with regulators worldwide.

The arrest of a Russian citizen for sending cryptocurrency to Ukraine’s armed forces highlights the dual nature of cryptocurrencies as powerful financial tools and potential conflict weapons. This incident underscores the risks associated with borderless transactions and raises concerns about cryptocurrencies funding adversarial actions, intensifying debates around balancing financial empowerment with national security.

In a shocking development, Romanian authorities have seized 21 million Bitcoins worth $400 million from Andrew Tate, former kickboxing champion, and influencer. Despite the seizure, Bitcoin has shown resilience, maintaining a bullish trend and surpassing the $30,000 milestone.

EDX Markets, a new cryptocurrency exchange, debuts with backing from Wall Street giants such as Citadel Securities, Fidelity Investments, and Charles Schwab. Offering liquidity, competitive quotes, and a non-custodial model, EDX Markets aims to attract industry leaders despite the SEC’s regulatory crackdown.

Alibaba appoints crypto-friendly Joseph Tsai as new Chairman amidst restructuring, sparking interest in the crypto community. Tsai is an advocate of cryptocurrencies and digital assets, prompting speculation of Alibaba embracing Web3 and crypto in China. Hong Kong’s recent regulatory framework for crypto shows growing interest in digital assets.

The Tate brothers’ involvement in alleged human trafficking and organized crime raises concerns about digital asset misuse, emphasizing the need for robust regulatory measures and vigilance within the crypto community to uphold the technology’s core values and ensure its transformative potential isn’t overshadowed by malicious actions.

Binance issued a cease and desist order to a fraudulent company, Binance Ltd, which falsely claims affiliation with the cryptocurrency exchange. This incident highlights the importance of due diligence and caution when navigating the crypto landscape, amidst scammers seeking to profit from the thriving sector.

Binance Ltd, part of one of the world’s largest crypto exchanges, shares a UK-registered address with 2,403 active companies in a small Suffolk town. This “utility closet” tactic, used to provide a “believable business location,” raises questions about transparency and ethical implications in the crypto industry.