Browsing:Market News

Dubai's Virtual Assets Regulator Halts Operations of Crypto Exchange BitOasis
10 months ago 2 mins read

Dubai’s Virtual Assets Regulator Suspends License of Crypto Exchange BitOasis for Regulatory Non-Compliance

Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a market alert regarding the local cryptocurrency exchange BitOasis. According to the notice, BitOasis’ conditional MVP (Minimally Viable Product) license has been suspended due to non-compliance with the related requirements. This development sheds light on the regulatory landscape for crypto activity in Dubai and highlights both permissive and restrictive measures in place. BitOasis was granted an MVP license by Dubai on April 12, 2023, which allowed the firm to conduct market operations within limited 30 to 60-day periods. However, the exchange failed to meet the stipulated conditions within the specified timeframes, resulting

Coinbase (COIN) Stock Jumps 16% on News of Surveillance-Sharing Agreement with Cboe
10 months ago 2 mins read

Coinbase (COIN) Shares Soar 16% on News of ETF Surveillance-Sharing Agreement with Cboe

Coinbase Global Inc (NASDAQ: COIN), the popular cryptocurrency exchange, experienced a 16% surge in its shares following the announcement of a surveillance agreement with Cboe’s BZX Exchange. Coinbase has agreed to participate in a surveillance-sharing agreement (SSA) for five Cboe spot Bitcoin exchange-traded funds (ETFs). Coinbase shares reached a high of $92.15 but eventually closed at $89.15, reflecting a 9.78% increase within 24 hours. Over the past three months, COIN has gained 27%, with remarkable growth of over 70% in the last month and an impressive 151% climb since January. An amendment submitted to the Securities and Exchange Commission (SEC)

U.S. CPI Falls to 3% in June, Core Rate Plummeting to 4.8%
10 months ago 1 min read

U.S. CPI Drops to 3% in June, Core Rate Lower Than Expected at 4.8%

The U.S. inflation rate, as measured by the Consumer Price Index (CPI), experienced a decline in June, slipping to 3.0% on a year-over-year basis. This figure, reported by the Bureau of Labor Statistics (BLS), is a decrease from May’s 4.0% and was also lower than the expected dip to 3.1%. On a monthly basis, the CPI saw a slight increase of 0.2% in June, compared to 0.1% in May, but fell short of the projected 0.3%. The core CPI, which excludes the volatile food and energy sectors, also experienced a decline, dropping to 4.8% from the previous 5.3%. This result

Binance US crypto exchange has resolved a technical issue that temporarily suspended BCH withdrawals on its platform.
10 months ago 1 min read

Binance US Resolves Bitcoin Cash (BCH) Withdrawal Issue And Addresses FUD

Binance US, the American arm of the leading cryptocurrency exchange Binance, has resolved a technical issue that temporarily suspended BCH withdrawals on its platform. The exchange assured users that their assets were safe and secure throughout the process and that the issue was not related to any liquidity problems. Technical Issue Resolved The technical issue that affected BCH withdrawals on Binance US was related to the platform’s deposit transfer system. This system automatically transfers funds from customers’ individual deposit wallets to the platform’s hot and cold wallets for enhanced security. However, the technical glitch prevented BCH deposits from being transferred

Seo Chul-goo a well-known South Korean pop star
10 months ago 2 mins read

South Korean Pop Star Reveals $77,000 Loss on Crypto Investment

Seo Chul-goo, also known as Xitsuh, a well-known South Korean pop star, recently opened up about his financial struggles after losing up to $77,000 on cryptocurrency investments. During a talk show appearance with his fiancee, Lee Young-joo, Xitsuh discussed the challenges he faced due to his crypto investments and how they impacted their wedding plans. This revelation sheds light on the risks associated with cryptocurrency trading even for celebrities in the entertainment industry. Seo Chul-goo, popularly known as Xitsuh, a South Korean pop star, rapper, and TV personality, shared his unfortunate experience of losing a significant amount of money on

V oyager Digital has seen an exodus of over $250 million worth of crypto assets
10 months ago 1 min read

Voyager Digital Witnesses Massive Outflow as Creditors Withdraw Over $250M in Funds

Voyager Digital, a crypto lender that recently resumed withdrawals after a year-long suspension, is now facing a significant outflow of funds as creditors rush to withdraw their money. The platform, which filed for Chapter 11 bankruptcy last year, has seen an exodus of over $250 million worth of crypto assets since the resumption of withdrawals. After a prolonged suspension and a bankruptcy filing, Voyager Digital recently gave its investors the green light to begin withdrawing funds from the platform. Since the resumption of withdrawals, over $250 million worth of crypto assets have been withdrawn from the Voyager Digital platform, according

Bitcoin mining company Marathon Digital reported a 21% decrease in Bitcoin mined in June
10 months ago 1 min read

Bitcoin Mining Company Reports 21% Drop in June Revenues

Bitcoin mining company Marathon Digital reported a 21% decrease in Bitcoin mined in June, citing harsh weather conditions in Texas and a significant fall in transaction fees as contributing factors. The company’s main operations in Texas produced 979 Bitcoin, a notable decline compared to the previous month due to the transition from spring to summer. National Weather Service data revealed a substantial increase in temperature in Texas during June, which has historically disrupted crypto mining operations in the state. The impact of weather conditions on mining operations was evident earlier this year when Riot Platforms experienced a temporary halt in

Justin Sun received a total of 30,000 stETH
10 months ago 1 min read

TRON Founder Justin Sun Engages in Rapid and Massive Crypto Transactions

TRON founder and BitTorrent CEO Justin Sun has made significant moves in the cryptocurrency market, processing several major transactions in the past few days. The blockchain data reveals the transfer of substantial amounts of stETH and ETH, reflecting Sun’s active involvement in the digital asset space. Details of the Transactions: According to blockchain data, Justin Sun received a total of 30,000 stETH, a tokenized version of Ethereum’s stake rewards, back into his wallets. The tokens were transferred from two specific wallets, namely 0x611…DF01 and 0x176…0a132, during the transaction. The total value of tokens removed from staking amounted to approximately $55.8

FTX Collapse Results in $30 Million Loss for Tom Brady's Investment
10 months ago 1 min read

Tom Brady Allegedly Loses $30 Million Investment in FTX Exchange Collapse

The collapse of FTX, a cryptocurrency exchange, has had a devastating impact on Tom Brady and Gisele Bündchen, who were major investors in the company. Brady and Bündchen reportedly lost millions of dollars due to the collapse, as they had invested a significant portion of their wealth in FTX stock. The couple’s involvement with FTX began in 2021 when they signed a lucrative endorsement deal with the company. As part of the deal, Brady and Bündchen appeared in a series of commercials for FTX and promoted the company on social media. They also received a large sum of FTX stock

Binance experienced an impressive inflow of nearly $2 billion in the last 48 hours
10 months ago 2 mins read

Binance Witnesses Massive Inflow of Nearly $2 Billion

Binance, the popular cryptocurrency exchange, experienced an impressive inflow of nearly $2 billion in the last 24 hours, according to data from DeFillama. This influx of funds comes despite the alleged fear, uncertainty, and doubt (FUD) surrounding the departure of key executives from the company. The significant inflow can be attributed to the surge in Binance’s TrueUSD (TUSD) balance within the same timeframe. The balance of TUSD on Binance skyrocketed from less than $500 million on June 6 to a staggering $2.65 billion. In comparison, other major exchanges like OKX, Bitfinex, Gate.io, and Huobi hold less than $20 million of

Binance has announced the suspension of support several cross-chain bridge tokens connected to the Multichain project.
10 months ago 2 mins read

Binance Halts Transfers of Multichain-Linked Tokens Following May Incident

Binance, one of the leading cryptocurrency exchanges, has announced the suspension of support for deposits and withdrawals of several cross-chain bridge tokens connected to the Multichain project. The suspension, which will commence on July 7, affects a range of tokens minted on Multichain across various networks. Tokens deployed on BNB Smart Chain, such as Polkastarter (POLS), Alchemy Pay (ACH), Beefy.Finance (BIFI), and Harvest Finance (FARM), will be impacted by the suspension. Additionally, tokens minted through the bridge on Fantom, including Beefy.Finance (BIFI) and Alpaca Finance (ALPACA), as well as Travala (AVA), minted on Ethereum’s bridge, are also part of the

A US judge has ruled in favor of bankrupt crypto lender Celsius, permitting the conversion of its altcoin holdings into BTC and ETH
10 months ago 1 min read

Bankrupt Crypto Lender Celsius Receives Court Approval to Convert Altcoins into Bitcoin and Ethereum

In a significant development, a US judge has ruled in favor of bankrupt crypto lender Celsius, permitting the conversion of its altcoin holdings into Bitcoin (BTC) and Ethereum (ETH). The decision comes as a relief to Celsius, allowing them to navigate their financial challenges more effectively. Judge Martin Glenn of the Southern District of New York issued the ruling, granting Celsius the ability to convert all non-BTC and non-ETH cryptocurrencies into the two leading digital assets. The conversion process is slated to commence on July 1st and continue until the effective date of the plan. The court has specified that

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