Author: James Wilson

Profile picture of James Wilson

James Wilson

James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.

Articles by James Wilson

Binance exchange agrees to pay historic $4.3B in fines; founder CZ awaits April sentencing

3 days ago 1 min read

Binance, the world’s largest crypto exchange, has agreed to a $4.3 billion settlement in a federal case, marking a historic high in financial enforcement actions. The settlement with the U.S. Department of Justice (DOJ) includes a $1.8 million criminal fine and $2.5 million in forfeitures for negligence in due diligence. In addition, the DOJ emphasized that punishment aims to hold Binance accountable and deter similar criminal activities. Plus, the settlement’s confirmation came from Judge Richard A. Jones, with the spotlight now turning to Binance’s founder, Changpeng Zhao (CZ), whose sentencing for money laundering and sanctions violations is pending until April

Hong Kong’s finance chief fast-tracks crypto bills for stablecoins and OTC trading

6 days ago 1 min read

The head of Hong Kong‘s finance department declared that the Legislative Council would receive bills regulating over-the-counter (OTC) crypto trading and stablecoins as soon as possible. After public consultations, the government intends to introduce licensing laws for OTC crypto trading and stablecoin operations. Public talks regarding licenses for OTC crypto trading services were started this month and will end on April 12, as per a response from Christopher Hui, the Secretary for Financial Services and the Treasury, in a response to the Legislative Council. In addition, a different consultation that ends on February 29 aims to regulate stablecoin issuers by

Philippines’ central bank to launch a secure digital currency, bypassing blockchain

2 weeks ago 1 min read

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, plans to launch a Central Bank Digital Currency (CBDC) in two years, presenting it as a stable and regulated alternative to the volatile crypto market. In contrast to other digital currencies, the Philippine CBDC will make use of the Peso Real Time Gross Settlement System, which is governed by the National Payment Systems Act, rather than blockchain technology. BSP Governor Eli Remolona Jr. underlined that the CBDC is motivated by China’s e-CNY success to offer a safer digital currency option. It provides a more secure option than the erratic

Bitcoin’s price climbs to over $46,200, nearing a one-month high following ETF approvals

3 weeks ago 1 min read

On February 8, Bitcoin’s (BTC) price surged to over $46,200, a significant rise that was almost exactly mirrored by its performance. This comes almost a month after the approval of spot Bitcoin Exchange-Traded Funds (ETFs). With a market cap of over $908 billion, the most valuable crypto is on the verge of a substantial upswing. This was evidenced by its most recent valuation of $46,263, which was reached. The fact that this recovery is still below the month’s high of $48,500 on January 11 highlights the inherent volatility of the market. The crypto market as a whole has seen a

Tether (USDT) makes almost $3 billion in quarterly profits

4 weeks ago 1 min read

Tether Holdings Limited has reported a “record-breaking” quarterly net profit of $2.85 billion in the fourth quarter of 2023. The details are outlined in the “Consolidated Reserves Report,” which BDO audited. According to the report, interest on US Treasury securities accounted for around $1 billion of net operating profits, with the remainder attributed to the appreciation of Tether’s gold and Bitcoin reserves. According to the report, Tether’s consolidated assets total more than $97 billion, which includes US Treasury securities, reverse repo, money market funds, Bitcoin, and gold. Cash and cash equivalents account for 90% of the company’s assets and serve

The US Bitcoin ETFs experience net inflows of only $1.8 billion

4 weeks ago 1 min read

According to digital asset management firm CoinShares, withdrawals from Grayscale’s Bitcoin ETF (GBTC) have exceeded $5 billion since January 11, outpacing inflows into other funds. While the pace of daily redemptions has slowed over the last week, indicating a slowdown in sales, GBTC’s net outflows stand at $2.2 billion, while U.S. bitcoin ETFs saw net inflows of only $1.8 billion. According to CoinShares’ Chief of Research, James Butterfill, the slowdown in daily redemptions indicates a downward trend in GBTC outflows. Notably, Coinbase Prime received $289 million in bitcoin from Grayscale on Monday, a significant reduction from the previous week’s average

Regulators freeze and shut down Binance operations in Alaska and Florida

1 month ago 1 min read

Binance US is dealing with increased regulatory challenges. The company, which was already under scrutiny following CEO Changpeng Zhao’s resignation and investigations by the US Department of Justice, has now faced a regulatory freeze, resulting in the suspension of operations in Alaska and Florida. In the most recent development, Florida regulators have taken legal action against Binance US, deeming the crypto giant a potential threat to public safety. As a precautionary measure, regulators have suspended Binance US services in the state, emphasizing the importance of protecting the public’s interests. Binance US obtained a money services license in Florida in 2020,

SEC delays decision on Ethereum ETF to March 10, 2024

1 month ago 1 min read

The US SEC has delayed its decision on the iShares Ethereum Trust spot ETF until March 10, 2024. The ETF, proposed by Nasdaq on November 21, 2023, is intended to track the price movements of Ethereum, a popular crypto. Originally, the SEC had a 45-day review period for the ETF proposal, ending on January 25, 2024. However, the regulatory body chose to extend this period, indicating a need for more time to thoroughly examine the complexities surrounding the Ethereum ETF. The proposed rule change has been open for public comment since December 11, 2023, but no comments have been received

Donald Trump Scores a Remarkable 15,000% Return on MAGA Meme Coin Investment

1 month ago 2 mins read

Former President Donald Trump has made an incredible 15,000% profit on his investment in the meme coin “TRUMP” (MAGA). Despite the volatility of the crypto market, Trump’s investment in TRUMP has proven to be extremely profitable. According to crypto intelligence firm Arkham Intel, Donald Trump’s initial $7,100 investment in TRUMP tokens between August and October 2023 has grown to an impressive $1.07 million. This astonishing 15,000% return demonstrates the TRUMP meme coin’s exceptional performance in recent months. TRUMP is currently valued at $1.90 per token. Trump’s notable investment journey began when his address was tagged on August 16th, 2023. In

Ethereum (ETH) Faces Critical Crossroads as Price Nears Key Support Zone

1 month ago 1 min read

Ethereum (ETH), which recently reached a high of $2,717, is now at a crossroads as it faces a gradual decline. Crypto analyst Ali identifies a critical demand zone, ranging from $2,388 to $2,460, that holds the key to Ethereum’s current price trajectory. Ali emphasizes the importance of the demand zone between $2,388 and $2,460, describing it as a critical support level. The resilience of Ethereum in this zone could be a deciding factor for a potential upward movement, providing much-needed relief from the current bearish pressures. Analysts predict that if Ethereum can maintain its position within the identified demand zone,

Uniswap Labs releases a new security feature known as Permit 2

1 month ago 2 mins read

On January 18, Uniswap Labs, the developer of the popular decentralized exchange (DEX) Uniswap, released a new security feature known as Permit 2. This development aims to address the critical “infinite token allowances” vulnerability, which poses a potential risk to user funds. By introducing Permit2, Uniswap Labs hopes to improve user protection and control over digital assets. In the context of decentralized finance (DeFi), “token allowance” refers to a permission mechanism that users grant to smart contracts, granting them access to tokens. This permission is required for users to interact with different decentralized applications (DApps), such as decentralized exchanges and

Crypto exchanges trading volume surges to $10 trillion in 2023

1 month ago 1 min read

CoinGecko’s recently released 2023 Annual Crypto Industry Report sheds light on the state of crypto exchanges, highlighting the industry’s resilience and notable accomplishments this year. The report examines the dynamics of both centralized crypto exchanges (CEX) and decentralized exchanges (DEX) throughout the year. Despite the challenges faced by the crypto market, such as FTX’s collapse, global banking crises, and regulatory issues with Binance, the data shows that the market is recovering overall. In 2023, the crypto market saw a significant trading volume of $36.6 trillion. A significant highlight is the 53.1% increase in volume between Q3 ($6.7 trillion) and Q4