BLUR, a crypto backed by Paradigm, experienced a surge in whale activity on November 27, with large holders transferring over 7 million BLUR to exchanges like Binance and OKX. This influx of tokens to exchanges suggests a potential increase in supply, leading to reduced demand and subsequently a significant drop in the BLUR price. Market data from Spot on Chain indicates that the price decline followed the movement of tokens to exchanges. Notable whale transactions involved deposits to Binance and OKX, with associated profits from previous holdings. Wintermute Trading, a crypto market maker, was also involved in transferring BLUR to
Author: Sophia Hernandez
Articles by Sophia Hernandez
Zipmex Thailand, grappling with regulatory challenges, has taken a significant step by suspending new deposits and trading on its exchange. The decision, as outlined in a statement on the exchange’s Facebook page, is attributed to the need for compliance with Thailand’s Securities and Exchange Commission (SEC). In clarifying the situation, Zipmex emphasized that withdrawals would continue as usual until January 31, 2024. After this date, customers are advised to reach out to the exchange’s customer support team for assistance in withdrawing funds. The exchange, headquartered in Singapore and serving multiple countries including Thailand, Australia, and Indonesia, is currently facing penalties
KuCoin exchange to delist KAT (KAT), Sakura (SKU), Don-key (KDON), LOCGame (LOCG), Sienna (WSIENNA) and 5 more5 days ago 1 min read
KuCoin cryptocurrency exchange has made a strategic move to enhance compliance by delisting 10 altcoins from its platform. The decision is aligned with KuCoin’s commitment to maintaining quality and compliance, enforced through its Special Treatment Rules. The announcement specified that the delisting of these 10 altcoins is a result of their failure to meet the conditions outlined in KuCoin’s Special Treatment Rules. The objective of these rules is to ensure that all listed projects adhere to the exchange‘s rigorous quality and compliance standards, prioritizing the safety and reliability of cryptocurrencies for users. Effective November 24, 2023, at approximately 6:45 a.m.
Ethereum (ETH) recently gained momentum, surpassing the critical $2,050 mark and sparking speculation about a possible rally toward $2,500. However, current market dynamics are raising concerns, particularly regarding Binance’s regulatory challenges following its recent plea deal with the US Department of Justice. Even after a brief retest at $1,930 on November 21, the second-largest cryptocurrency demonstrated strength by breaking through the $2,000 resistance zone and maintaining support above it. ETH emerged as one of the top gainers, breaking through the $2,050 resistance level. The bullish momentum was temporarily halted on November 23 when ETH reached $2,088, resulting in a consolidation
The crypto-focused YouTube channel “Discover Crypto” recently raised concerns about the HTX exchange and Tron founder Justin Sun, drawing parallels to the difficulties faced by FTX’s Sam Bankman-Fried. According to the channel, Sun’s business operations may face similar issues as FTX. The host of Discover Crypto expresses concerns about Justin Sun’s management style, implying similar risks to those faced by Sam Bankman-Fried. Sun, who founded the multibillion-dollar Tron blockchain, is currently being investigated for his previous actions. The channel sheds light on contentious events in Tron’s history, such as how Sun allegedly earned more than $70 million from Tron’s ICO
Following the indictment by the US government, Binance saw a staggering $1.3 billion withdrawal of user funds. The surge in withdrawals coincides with the announcement that Changpeng “CZ” Zhao will step down as CEO as part of a $4 billion settlement with the US Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC). It is important to note that the Securities and Exchange Commission (SEC) is not a party to this agreement. According to Wall Street Journal reports, Zhao will admit guilt to anti-money laundering (AML) charges as part of the settlement. The founder is expected to enter
Santander Private Banking International Introduces Exclusive Crypto Services for High-Net-Worth Clients in Switzerland1 week ago 1 min read
Santander Private Banking International, a division of Banco Santander, is launching a cryptocurrency trading service in Switzerland for its wealthy clients. This service enables high-net-worth clients to trade and invest in leading cryptocurrencies such as bitcoin (BTC) and ether (ETH), with plans to expand the offering to include additional digital assets in the near future. This novel approach stands out because clients can request the service, and the bank ensures the safe storage of digital currencies. Santander’s stringent criteria will determine which new cryptocurrencies will be added to the platform, emphasizing a cautious yet progressive approach. The fact that many
The founder of ChatGPT and the face of OpenAI, artificial intelligence pioneer Sam Altman, had an unexpected turn in his career on Friday, November 17, when the OpenAI board decided to remove him from his roles as CEO and director. The action, which was called shocking, was attributed to Altman’s alleged inconsistent communication style. Even though Altman has made significant contributions to OpenAI—the company is currently valued at approximately $80 billion—the board stressed the significance of consistent leadership. The specifics of the decision have not been disclosed, but the board expressed confidence that the business can succeed in Altman’s absence.
Santander Private Banking International, a division of the well-known Spanish financial services conglomerate Banco Santander, has introduced trading and custody services for Bitcoin (BTC) and Ethereum (ETH) to a select group of Swiss customers. This is a significant step toward incorporating cryptocurrencies into the traditional banking sector. Santander Private Banking International intends to expand its crypto services in the coming months by adding support for additional cryptocurrencies, joining the ranks of Bitcoin and Ethereum. The decision to enter the cryptocurrency space is notable, especially given that many large banks are wary of embracing public blockchain-based crypto. Investors hail Santander’s action
In spite of legal difficulties, South Korean prosecutors are requesting an 8-year sentence for the former Bithumb chair in a fraud case, as the company plans to go public in 2025. Appeal for Fraud Against Former Bithumb Chair The former chair of the large cryptocurrency exchange Bithumb, Lee Jeong-hoon, is being prosecuted in South Korea and faces an eight-year prison sentence. The Seoul Economic Daily claims that this is the most recent development in a well-known fraud case. In 2018, Lee was charged with fraud in connection with a possible takeover of Bithumb. Even though he was previously released from
Binance cryptocurrency exchange has partnered with Gulf Energy Development to launch a brand-new cryptocurrency exchange in Thailand. The collaborative venture, Gulf Binance, recently secured approval from Thailand’s Securities and Exchange Commission (SEC). This development marks a significant milestone for Gulf Binance, which obtained the necessary licenses in May and is now gearing up to kick off operations. The exchange is poised to offer various services, including digital asset exchange and brokerage, with a strong emphasis on security and strict adherence to SEC regulations. Initially, access to Gulf Binance will be by invitation only, offering a select group of users the
The native token of the dYdX chain, DYDX/USD, has experienced a significant surge, witnessing a value increase of over 20% in the last 24 hours. This surge comes as the market anticipates a substantial token unlock date for early investors and core team members, scheduled in just 16 days. dYdX, originally a decentralized exchange (DEX), has recently expanded its operational scope by launching its own layer-1 blockchain, leveraging Cosmos technology. This strategic move has introduced a new rewards system where validators earn a share of trading revenues for sustaining the network. Over the past month, DYDX’s price has more than