Author: Sophia Hernandez

Article written by Sophia Hernandez

$1.3 billion in user funds withdrawn from Binance following the US Government indictment

November 22, 2023 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

Santander Private Banking International Introduces Exclusive Crypto Services for High-Net-Worth Clients in Switzerland

November 21, 2023 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

OpenAI Board Decides to Remove Sam Altman Due to Communication Issues

November 20, 2023 1 min read

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

Ethereum (ETH) surges by over 4% in the last 24 hour

November 20, 2023 1 min read

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

Appeal Filed in Fraud Case Involving Ex-Bithumb Chair

November 18, 2023 1 min read

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

Binance Announces Plans for Crypto Exchange in Thailand

November 16, 2023 1 min read

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

dYdX (DYDX) Token Surges 20% Ahead of Massive Unlock Event

November 16, 2023 1 min read

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.

Ethereum Sentiment Analysis: Whale Activities Unveiled

November 15, 2023 1 min read

In a recent thread on Lookonchain, a prominent on-chain resource in the crypto market, an in-depth analysis of Ethereum’s (ETH) sentiment was conducted as it surpassed the $2,000 milestone and maintained its position for several days. The primary focus of the thread was to uncover whether crypto whales and influential investors expressed bullish or bearish sentiments toward ETH through their recent activities. Lookonchain’s tweets provided a detailed examination of whale

Ethereum (ETH) Drops Below $2,000 After facing resistance at $2,130

November 15, 2023 1 min read

Ethereum encountered a minor setback, witnessing a 3.83% decline in the past 24 hours, bringing its value to $1,980. This dip contrasts with its positive performance over the week, where the coin exhibited an uptrend of 7%, climbing from $1,879 to its current position. The decline in Ethereum’s value can be attributed to its recent struggle to surpass the $2,120 resistance level. Similar to Bitcoin, the digital asset experienced a

FTX Files Lawsuit Against Bybit Exchange to Retrieve $1 Billion

November 13, 2023 1 min read

FTX, the cryptocurrency exchange that faced financial difficulties and declared bankruptcy in November 2022, is taking legal action to recover almost $1 billion. The exchange’s estate is suing ByBit, a prominent crypto platform, alleging irregularities in token deals and voting. During FTX’s troubled period in November 2022, the exchange’s employees maintained a record of withdrawal requests from VIP customers in a spreadsheet labeled “VIP Request – Prioritize (Settlement).” The lawsuit

FTX exchange sells $316M in crypto amid recovery efforts

November 9, 2023 1 min read

In an effort to bolster its financial standing, the FTX crypto exchange has sold a significant amount of crypto assets, totaling around $316 million. These sales occurred between November 7th and 8th and involved various cryptocurrencies, including Solana (SOL) and Ethereum (ETH). Solana, in particular, accounted for a substantial portion of the sales, with FTX offloading 4.8 million SOL tokens worth around $187 million. Despite this significant selloff, Solana’s price

Cardano has seen over $600 million worth of ADA accumulated within the price range of $0.249 to $0.271

November 8, 2023 1 min read

Cardano (ADA) may not be making big price moves, but it’s certainly making waves in the world of cryptocurrency. Recent data from analytics provider IntoTheBlock reveals that over $600 million worth of ADA has been accumulated in the $0.249 to $0.271 price range. This substantial investment activity suggests that major investors are quietly positioning themselves, expecting a potential breakout. Over the past month, the number of addresses holding between 100,000