Browsing:Market

Senator Ted Cruz has proposed legislation to prohibit the Federal Reserve from creating a
3 hours ago 1 min read

Senator Ted Cruz Introduces Legislation to Halt Federal Reserve’s CBDC Agenda

Texas Senator Ted Cruz has proposed legislation to prohibit the Federal Reserve from creating a central bank digital currency (CBDC) for consumer use. The proposed bill aims to protect financial privacy by limiting the government’s capacity to track individual transactions, according to Cruz and his supporters. The bill’s introduction comes as a response to concerns raised by Cruz and others about CBDCs. The legislation is designed to ensure that U.S. digital currency policies prioritize financial privacy, encourage innovation, and maintain the dominance of the U.S. dollar. According to Cruz, CBDCs pose a risk of centralizing Americans’ financial information and making

Indian woman loses $30k to scammer on dating site
6 hours ago 1 min read

Romance Turns to Crypto Disaster for Mumbai Woman: Scammed out of $30K by Matrimonial Site Match

A 60-year-old Indian woman recently fell victim to a crypto investment scam and lost nearly $30,000. The woman, who had registered on a matrimonial site to look for a life partner, was approached by a man who claimed to be a US-based engineer. He promised her quick profits through bitcoin investments. The woman invested nearly $30,000 in cryptocurrencies through a person who was introduced to her by the con man. When she asked to withdraw her money, she was told she needed to pay a currency conversion fee and taxes equivalent to $15,000. The duo stopped communicating, and her virtual

Arbitrum (ARB)
1 day ago 1 min read

Arbitrum Airdrop Buzz Interrupted by Discord Hacker’s Malicious Intent

Arbitrum (ARB) investors were recently put on high alert by the crypto community following reports of a possible phishing scam that had made its way into the official Arbitrum Discord server. Unfortunately, the warnings proved accurate as hackers managed to drop a phishing link into the server. On March 25, blockchain security firm CetriK warned of a potential phishing link being circulated via the Arbitrum Discord server. It is suspected that one of Arbitrum’s developers had their Discord account hacked, which was then used to share a fake announcement containing the phishing link. The phishing message offered investors “the opportunity

Crypto Goes Mainstream in Germany
1 day ago 2 mins read

Crypto Goes Mainstream in Germany: 1,200 Banks to Offer Bitcoin Trading

Deutsche WertpapierService Bank AG (dwpbank) has made a significant announcement that could change the cryptocurrency trading game in Germany. The German securities processing giant has launched wpNex, a platform that enables over 1,200 affiliated banks to offer Bitcoin trading to their retail customers. The platform will allow for the seamless integration of crypto trading into the customers’ online banking experience. This means that customers can view their cryptocurrency holdings alongside their traditional securities, with no pre-funding required. According to a press release published on March 22, wpNex is a game-changer that will put Germany on the map as a major

Cathie Wood's Ark Invest
2 days ago 1 min read

ARK Invest bets big on Coinbase with $18M purchase during price decline

Cathie Wood’s Ark Invest recently purchased 268,928 Coinbase shares as the price of the cryptocurrency exchange’s shares tumbled following the Wells notice from the US Securities and Exchange Commission (SEC). The investment firm sold 160,887 Coinbase shares from its Fintech Innovation ETF before buying more shares through its ARK Innovation ETF and ARK Next Generation Internet ETF. Ark Invest spent $20.5 million to buy the shares, and by March 22, the value had spiked to close to $30 million. The firm sold 160,887 shares from the ARKF ETF for $13.5 million and acquired another 268,928 Coinbase shares worth $17.88 million

Binance users can now withdraw funds after resolution of spot trading bug
2 days ago 1 min read

Binance restores withdrawals after resolving bug that impacted spot trading

Binance, the largest crypto exchange in the world, faced a technical bug that disrupted spot trading, deposits, and withdrawals earlier today. The issue reportedly affected a trailing stop order and prompted the exchange to halt spot trading as part of its standard operating procedure. Binance users took to Twitter to raise the issue, following which the exchange disabled spot trading to work on the problem. CEO Changpeng Zhao confirmed that one of Binance’s matching engines had encountered the bug, but assured users that their funds were “SAFU.” During the outage, malicious elements spread FUD about the crypto exchange, claiming they

BitMEX Founder Arthur Hayes
2 days ago 1 min read

BitMEX Founder Arthur Hayes Predicts Bitcoin to Surge by Over 3,400%

Arthur Hayes, the co-founder of BitMEX, has predicted a massive rally for Bitcoin (BTC), with the cryptocurrency expected to hit $1 million in value. Hayes says the rally will be fueled by changes in Federal Reserve’s monetary policy, particularly interest rate cuts. Hayes believes that the rate cuts are inevitable, as U.S. Federal Reserve Chairman Jerome Powell will have to reduce rates to counter recessionary concerns. The move will inject more liquidity into the markets, and Bitcoin’s price has typically done well when more liquidity is available. In addition to the interest rate cuts, Hayes points to the Bank Term

Another Weekend of Turbulence Looms for European Banks as Default Risks Soar
2 days ago 2 mins read

European Banks Face Another Weekend of Instability as Default Risks Rise

European banks are bracing for another weekend of uncertainty as the cost of insuring against their potential default risk continues to rise. Shares of Deutsche Bank fell over 7% on the New York Stock Exchange on March 24 after a down day on Frankfurt’s markets. The German bank’s five-year credit default swaps (CDS) climbed 19 basis points from the previous day, closing at 222 bps, according to Reuters, citing S&P Global Market Intelligence data. Credit default swaps allow investors to swap or offset their credit risk with another investor, and are often used by lenders concerned about a borrower’s default

Binance has responded to these allegations
2 days ago 1 min read

Binance Launches In-House Investigation into KYC Bypass Allegations

Recent reports have surfaced alleging that employees and volunteers of Binance were assisting Chinese users on how to bypass Know Your Customer (KYC) and other security protocols. However, Binance has responded to these allegations, stating that it explicitly forbids employees from supporting users in circumventing any laws or policies. A spokesperson from Binance has clarified that the company is taking action following the allegations. They stated, “We have launched an investigation into employees who may have violated our internal policies including wrongly soliciting or making recommendations that are not allowed or in line with our standards.” The exchange has implemented

Nasdaq Aims to Expand Services with New Crypto Custody Offerings
2 days ago 1 min read

Nasdaq Set to Provide Crypto Custody Solutions in the Near Future

Nasdaq, the global stock exchange operator, has announced its plans to offer custody services for digital assets by the end of June 2023. Despite regulatory uncertainty and skepticism about cryptocurrencies in some countries, this move reflects the increasing institutional interest in the crypto industry. Nasdaq has been working on meeting regulatory approvals and technical infrastructure necessary for the launch of its crypto custody services, according to Ira Auerbach, senior vice president and head of Nasdaq Digital Assets. The exchange group has applied to the New York State Department of Financial Services for a limited-purpose trust company charter to supervise the

Coinbase CEO believes that the future of the crypto industry can be best moved forward
2 days ago 1 min read

Brian Armstrong Pushes for Greater Political Engagement from Crypto Industry

Coinbase CEO Brian Armstrong has called for more representation of pro-crypto lawmakers in US politics, as he believes that the future of the crypto industry can be best moved forward when more crypto-friendly individuals are in charge. Speaking at a Twitter Spaces event, Armstrong urged crypto proponents to support pro-crypto candidates, make their voices heard, and donate to their campaigns. The call for more inclusive representation comes after the US Securities and Exchange Commission (SEC) sent Coinbase a Wells Notice, indicating a possible regulatory crackdown. Coinbase plans to sponsor pro-crypto candidates in US elections to ensure that the industry’s success

Do Kwon, the founder of Terraform Labs
2 days ago 1 min read

Do Kwon to Face Extradition Hearing in Montenegro for Criminal Charges, According to AFP

Do Kwon, the founder of Terraform Labs, has been charged with forgery in Montenegro, according to a report by AFP. Kwon is due in court on Friday for extradition proceedings, after being arrested at Podgorica airport along with another individual. The charges come in the aftermath of the collapse of stablecoin terraUSD, which caused widespread concern in the crypto markets last year. Kwon has been on the run ever since, and his arrest in Montenegro marks a significant development in the ongoing investigation into the incident. According to Montenegro’s police, a criminal complaint has been filed against Kwon and the

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