Author: Mohammed Ali

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Mohammed Ali

Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.

Articles by Mohammed Ali

JP Morgan has taken a firm stance in favor of the crypto industry by calling for dedicated regulation from the US government.

JP Morgan Joins Call for Crypto Regulation Amidst Ongoing SEC Lawsuits

11 months ago 2 mins read

JP Morgan, one of the largest banks in the United States with a market capitalization of $413 billion, has taken a firm stance in favor of the crypto industry by calling for dedicated regulation from the US government. The recent legal actions taken by the Securities and Exchange Commission (SEC) against cryptocurrency exchanges have raised concerns for JP Morgan, as they believe it could lead to a potential flight of crypto capital to other markets outside the US. JP Morgan emphasizes the complexities in determining which cryptocurrencies should be classified as securities, a term frequently used in SEC lawsuits. This

CoinEx Crypto Exchange Banned in New York and $1.7M Seized by Authorities

Crypto Exchange CoinEx Faces Ban in New York, Over $1.7M Seized

11 months ago 2 mins read

The state of New York, led by Attorney General Letitia James, continues its aggressive stance on crypto regulation with the recent ban of CoinEx, a global crypto exchange. The exchange, which launched in 2017, has been accused of operating illegally in the state and failing to register as a securities and commodities broker-dealer. As a result, more than $1.7 million has been recovered from CoinEx, with refunds to be issued to affected investors. New York Attorney General Letitia James has taken decisive action against CoinEx, accusing the exchange of falsely representing itself as a legitimate crypto trading platform. The ban

SBF to Face Trial on Initial 8 Criminal Charges, US Prosecutors Confirm

FTX Co-Founder Sam Bankman-Fried to Face Trial on Original Charges, US Prosecutors Confirm

11 months ago 1 min read

The criminal trial of Sam Bankman-Fried, co-founder of FTX, will proceed with the original eight charges leveled against him by United States prosecutors, according to recent developments. In a court filing on June 14, the U.S. Department of Justice (DoJ) confirmed its intention to move forward with the trial on the charges initially brought against Bankman-Fried in December 2022. The DoJ cited a motion filed by Bankman-Fried in the Bahamas, where he argued that several of the 13 charges he faced were not part of the original indictment, which formed the basis of his extradition. Acknowledging that the resolution of

The LUNC community is eagerly anticipating the Terra Classic parity upgrade

Terra Luna Classic Surpasses 1 Trillion $LUNC Staked as Terra Parity Approaches Completion

11 months ago 1 min read

The LUNC community is eagerly anticipating the Terra Classic parity upgrade mainnet 2.1.0, scheduled for June 14, 2023. Alongside this development, Terra Luna Classic (LUNC) has experienced a resurgence in the crypto charts, with a 10.9% gain in the last 24 hours. However, the price of $USTC, the stablecoin associated with Terra Classic, has not seen a similar increase. The upcoming parity upgrade will ensure full compatibility between the original Terra Classic network and all Cosmos-based blockchains, including Terra 2.0. This comes at a time when the LUNC community is actively testing options to address issues with the malfunctioning Terra

The release of inflation data by the US on June 13 caused a surge in Bitcoin's price as investors speculated on the potential impact

Bitcoin Surges as US CPI Hits 4% in May

11 months ago 1 min read

The release of inflation data by the United States on June 13th caused a surge in Bitcoin’s price as investors speculated on the potential impact of the numbers on the Federal Reserve’s monetary policy. The Consumer Price Index (CPI) for May indicated a year-over-year increase of 4%, slightly lower than the anticipated 4.1%. Meanwhile, the core CPI, which excludes volatile sectors like food and energy, showed a higher-than-expected increase of 5.3% compared to the estimated 5.2%. This article explores the immediate market reaction to the inflation data and the potential implications for Bitcoin. In response to the inflation data release,

Crypto com exchange shuts down US branch

Crypto.com Announces Partial Shutdown in the US

11 months ago 2 mins read

Crypto.com, a crypto exchange, has announced that it will be shutting down its institutional exchange service in the United States. The decision comes amid increasing regulatory scrutiny of cryptocurrency exchanges in the US. In a statement, Crypto.com said that the decision was made due to “limited demand and increasing regulatory concerns.” The company said that it will continue to offer its retail trading platform to US customers. Crypto.com’s institutional exchange service was designed for large investors, such as hedge funds and banks. The service offered a variety of features that were designed to make it easier for institutional investors to

Polygon Labs has issued a response to the United States SEC claims that MATIC is an unregistered security.

Polygon Labs Defends MATIC Against SEC’s Security Claim

11 months ago 2 mins read

Polygon Labs has issued a response to the United States Securities and Exchange Commission’s (SEC) claims that MATIC is an unregistered security. The team defended MATIC’s status, emphasizing that it was developed and deployed outside the U.S. and focused on the global community supporting the network. They also highlighted MATIC’s role in ensuring the security of the Polygon technology from its inception. Despite Polygon Labs’ statement, MATIC has experienced a price decline, dropping nearly 2% in a single day and over 33% in the past week. Polygon Labs Defends MATIC’s Status In a blog post, Polygon Labs stated that MATIC

USDC Stablecoin Integrated with Arbitrum

USDC Launches on Arbitrum, Expanding the Reach of the Stablecoin

11 months ago 1 min read

Circle, the company behind USDC, has brought its native stablecoin to Arbitrum, Ethereum’s leading layer 2 scaling solution. This development makes Arbitrum the ninth blockchain to support USDC, according to an official announcement from Circle. The integration of USDC on Arbitrum allows businesses leveraging Circle to conveniently swap USDC tokens across supported chains, eliminating the expenses and time delays often associated with bridging transactions. This functionality opens up new possibilities for seamless and efficient token transfers. In light of a recent bug in Arbitrum’s Sequencer software that temporarily halted on-chain transaction verification, Circle’s introduction of USDC on the Arbitrum network

Commonwealth Bank of Australia

Australian Bank Implements Payment Restrictions for Crypto Exchanges After Scam Concerns

11 months ago 1 min read

In an effort to combat the rising incidents of crypto-related scams and protect its customers from financial losses, the Commonwealth Bank of Australia has taken decisive action. The bank has introduced new measures that limit customers’ ability to send money to cryptocurrency exchanges. These proactive steps aim to reduce the occurrence of scams and safeguard customers’ funds. The Commonwealth Bank of Australia has announced that it will now decline or hold certain payments to crypto exchanges, effectively preventing customers from completing such transactions. Additionally, the bank plans to implement a monthly limit of $10,000 (AUD) on outbound payments to cryptocurrency

Pepecoin's Market Cap Briefly Reaches $1 Billion Once Again

Pepe coin’s Market Cap Surpasses $1 Billion Again, but Retreats Shortly After

11 months ago 1 min read

Pepecoin (PEPE) recently achieved a remarkable milestone in the volatile crypto market as its market capitalization surged past $1 billion once again. However, the euphoria was short-lived, as the coin swiftly retraced its steps. Pepecoin’s recent surge in market cap to surpass $1 billion underscores its ability to captivate investors and generate excitement in the crypto market. This achievement reflects the growing interest in meme coins and the potential they hold for significant returns. While Pepecoin’s temporary ascent was noteworthy, its subsequent retreat has raised questions about the sustainability of its growth. Currently, Pepecoin (PEPE) is experiencing a decline in

A new survey by PayPal found that 56% of metaverse users plan to increase their use of crypto over the next five years.

PayPal Survey Shows 80% of Metaverse Participants Utilize Crypto for Transactions

11 months ago 1 min read

A new survey by PayPal found that 56% of metaverse users plan to increase their use of crypto over the next five years. The survey, which was conducted in late 2022 and included 10,000 adults active in the metaverse, also found that 80% of metaverse users currently use crypto, while 97% of metaverse users hold coins. The survey defined the metaverse as “a virtual space where users can act through an avatar and interact with each other and with a computer-generated environment.” It also cites both Meta and Roblox as metaverse companies. The survey found that the most popular crypto

The Bitcoin network was very active in May

Bitcoin Transaction Fees Reach New Highs, Boosting Miner Revenue

11 months ago 1 min read

The Bitcoin network was very active in May, with transaction fees reaching a two-year high. This led to a good month for miners, who earn a portion of the transaction fees as a reward for processing transactions. Ordinals and BRC-20 Activity Drive Up Transaction Fees The surge in transaction fees was driven by activity on the Ordinals and BRC-20 protocols. Ordinals is an NFT protocol that launched on Bitcoin mainnet in January, and BRC-20 is a sidechain that allows for the creation of decentralized applications on Bitcoin. Miners Earn More in Transaction Fees As a result of the higher transaction

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