Sophia Hernandez
Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.
Articles by Sophia Hernandez
4 months ago
2 mins read
KuCoin has reached an agreement with the New York Attorney General (NYAG) to halt all operations in the state. The agreement stems from a lawsuit filed by KuCoin alleging illegal and unregistered sales of securities and commodities. KuCoin is required to pay over $22 million as part of the agreement, with over $16.7 million earmarked for refunds to New York-based users and an additional $5.3 million to the NYAG. The lawsuit, filed in March, accused KuCoin of running a cryptocurrency exchange where users could buy and sell cryptocurrency classified as securities or commodities under New York State law. The agreement
4 months ago
1 min read
Google has announced changes to its crypto advertisements policy to improve its advertising standards and protect users from potential crypto investment risks. These updates are focused on Cryptocurrency Coin Trusts, which are financial instruments that simplify the trading of shares in trusts that hold significant amounts of crypto. The changes are intended to provide users with more reliable information while also protecting them from potential risks associated with crypto investments. The updated policy will go into effect on January 29, 2024, and will specifically target ads promoting cryptocurrency coin trusts in the United States. Advertisers who want to run crypto
4 months ago
2 mins read
The launch of Société Générale‘s euro-backed stablecoin, dubbed ‘EUR CoinVertible,’ on the Luxembourg-based exchange Bitstamp has made waves in the crypto space. This is a significant entry by a traditional bank into the crypto trading arena, particularly in the stablecoin market, which has previously been dominated by digital asset firms. Stablecoins are digital tokens with traditional currency value that closely track the value of fiat currencies. They play an important role in reducing the complexity of crypto trading by providing a stable digital representation of traditional currencies. While most stablecoins are pegged to the US dollar, Société Générale’s EUR CoinVertible
5 months ago
1 min read
Bitcoin began December on a high note, surging past $38,000 and nearly reaching $38,400, indicating a significant impact on the cryptocurrency market. Around $36.88 million in short positions were liquidated in a 24-hour period, with Binance exchange experiencing the highest liquidation amount at $15.62 million. The current market scenario also indicates the possibility of an additional $500 million in liquidations if Bitcoin’s price fluctuates between $38,300 and $39,000. This suggests that there is a significant amount of leverage at work in the market. Furthermore, the increase in Bitcoin’s price has resulted in a 4% increase in open interest for Bitcoin
5 months ago
1 min read
On December 15, Binance announced that it would no longer support the Binance USD (BUSD) stablecoin. This action follows regulatory challenges faced by BUSD’s issuer, Paxos, earlier this year, which resulted in an order to halt the stablecoin’s minting. Back in August, Binance outlined its phased approach to gradually withdrawing support for the BUSD by February 2024. During this time, users were encouraged to switch to another stablecoin, FDUSD. Notably, Binance is making the conversion free of charge. Despite Binance’s decision, Paxos has assured users that BUSD will be supported and redeemable until at least February 2024, as stated in
5 months ago
1 min read
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
5 months ago
1 min read
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
5 months 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.
5 months ago
1 min read
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
5 months ago
1 min read
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
5 months ago
1 min read
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
5 months 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
