Browsing:Market News

Binance fights back the U.S. SEC as it files for court-ordered protection against what it alleges to be excessive
1 month ago 2 mins read

Binance Fires Back at SEC, Alleging Discovery Abuse and Seeking Legal Safeguards

Binance disputes with the U.S. Securities and Exchange Commission (SEC) as it files for court-ordered protection against what it alleges to be excessive and unreasonably broad discovery demands. The exchange contends that the SEC’s interpretation of a June court order has gone beyond its intended scope, and Binance seeks safeguards to ensure a fair and focused examination of its practices. Binance’s complaint, lodged on August 14, accuses the SEC of abusing the discovery provision of a Consent Order that authorized “limited expedited discovery” on specific aspects concerning the custody, security, and availability of customer assets. The exchange argues that the

Auckland-based crypto exchange Dasset is facing dire circumstances as it reportedly goes into liquidation
1 month ago 2 mins read

New Zealand’s Crypto Exchange Faces Liquidation with Customer Funds at Stake

Auckland-based crypto exchange Dasset is facing dire circumstances as it reportedly goes into liquidation, resulting in a distressing situation for its customers who are unable to access their funds. The Herald, a local media outlet, has reported that hundreds of Dasset’s customers are currently locked out of their accounts, with substantial amounts of cryptocurrency worth tens of thousands of dollars trapped within the platform. Amidst the turmoil, a disheartening story emerged from a customer who has been struggling to withdraw their life savings of $40,000 from their Dasset account for a period of three months without success. Another user claimed

Kraken Ventures Launches $100 Million Fund to Boost Emerging Crypto Enterprises
1 month ago 2 mins read

Kraken Ventures Announces $100M Fund to Back Emerging Crypto Startups

Kraken Ventures, the investment arm of a prominent global cryptocurrency exchange, is poised to make a significant impact in the world of crypto startups with its ambitious plan to raise a $100 million fund. This substantial fund marks Kraken Ventures’ second major investment effort, coming on the heels of its successful $65 million fund raised just two years ago in December 2021. The focus of this new fund is firmly set on nurturing early-stage founders, with a unique approach that goes beyond traditional one-time investments. Brandon Gath, the managing partner of Kraken Ventures, emphasized that their support is a continuous

PayPal Rolls Out State-of-the-Art Crypto Platform
1 month ago 2 mins read

PayPal Unveils Cryptocurrency Platform

In a significant update to its terms and conditions, renowned payment platform PayPal has unveiled a groundbreaking feature – the Cryptocurrencies Hub. This innovative addition allows users to seamlessly manage and engage with cryptocurrencies, starting with Bitcoin, directly within their PayPal accounts. The recent modifications to PayPal’s terms and conditions not only outline the prerequisites for utilizing the Cryptocurrencies Hub but also shed light on the extensive capabilities this feature brings to cryptocurrency enthusiasts. Through this new offering, PayPal users gain the ability to buy, sell, and hold various cryptocurrencies, making transactions more accessible and streamlined. One of the standout

The DeFi ecosystem faced a significant setback as bad actors targeted the Zunami Protocol
1 month ago 2 mins read

Zunami Protocol Hack: $2 Million Lost, UZD Stablecoin Crashes 99% in Value

The DeFi ecosystem faced a significant setback on August 13th as bad actors targeted the Zunami Protocol, resulting in an estimated loss of $2.1 million. This attack, driven by price manipulation within the protocol’s Curve pools, highlights the vulnerabilities that persist within the DeFi space. Zunami Protocol, a decentralized revenue aggregator enabling users to stake stablecoins for yield, fell prey to a targeted exploit. The attackers capitalized on vulnerabilities within the protocol’s Curve pools, adding another name to the growing list of platforms affected by recent attacks on Curve Finance. The attack was promptly identified by blockchain security firm PeckShield,

Curve Finance has taken a step to reimburse users affected by a recent breach resulting in a substantial loss of $62 million.
1 month ago 1 min read

Curve Finance Pledges to Reimburse Users After $62 Million Breach

Curve Finance has taken a proactive step by announcing its commitment to reimburse users affected by a recent breach that resulted in a substantial loss of $62 million. Curve Finance has officially declared its intention to reimburse users who suffered losses due to the breach. An impressive 79% of the pilfered funds have already been successfully recovered, indicating substantial progress in the platform’s recovery efforts. The primary focus now lies on the equitable assessment of proportional portions for each affected user, highlighting Curve Finance’s dedication to ensuring fairness throughout the process. The breach, which occurred on July 30, involved malicious

SBF Bail Revoked by US Court, Incarceration Looms Before Fraud Tria
1 month ago 1 min read

SBF Bail Rejected, Marking Path to Jail Before Fraud Trial

A recent development in the case of Sam Bankman-Fried (SBF), the founder of the now-bankrupt FTX exchange, has taken the crypto community by surprise. U.S. Federal Judge Lewis Kaplan has made a significant decision to revoke SBF’s bail, leading to his immediate custody. As SBF awaits his impending criminal trial scheduled for October 2, the decision to revoke his bail raises questions and sparks discussions within the cryptocurrency ecosystem. During a recent hearing, Judge Kaplan opted to revoke SBF’s bail, a decision that caught the attention of both crypto enthusiasts and legal experts. As this news emerged, SBF’s legal team

Binance is making a significant move towards regulatory compliance by applying for registration under Taiwan's Money Laundering Control Act.
1 month ago 2 mins read

Binance Initiates Registration Process in Taiwan for AML Compliance, Insider Reports Say

Binance is making a significant move towards regulatory compliance by applying for registration under Taiwan’s Money Laundering Control Act. This development marks a pivotal step in aligning with local anti-money laundering (AML) regulations, as Taiwan remains one of the few countries to have introduced crypto-related regulations. Sources reveal that Binance is actively seeking registration for anti-money laundering compliance within the framework of Taiwan’s financial regulations. The Financial Supervisory Commission (FSC) conveyed this information during a closed-door meeting attended by numerous domestic crypto service providers. This move underscores Binance’s commitment to fostering a secure and compliant crypto ecosystem. Since the introduction

Trade BNT/USDT with up to 20x Leverage on Binance Futures
1 month ago 1 min read

Binance Futures Launches BNT/USDT Trading Pair with Leverage of up to 20x

Binance Futures, a prominent player in the cryptocurrency derivatives space, has unveiled an exciting development for traders and investors. The exchange has announced the launch of a new perpetual contract designed for the native token of Bancor Network, BNT. This latest addition to Binance’s trading offerings is set to provide enhanced opportunities for users to engage with the cryptocurrency market. The BNTUSDT perpetual contract is scheduled to debut on August 10, 2023, at 15:00 (UTC). This contract will empower traders with the ability to leverage their positions by up to 20 times, amplifying their potential gains in the market. Bancor

Federal Reserve's Plan for Supervising Cryptocurrencies Uncovered
1 month ago 1 min read

The US FED Introduces Crypto Regulatory Program

The US Federal Reserve has announced its plans to establish a comprehensive supervisory program aimed at overseeing financial institutions involved in various cryptocurrency-related activities. This development comes as the cryptocurrency landscape continues to evolve and regulatory authorities seek to strike a balance between promoting innovation and ensuring the stability of the financial system. The newly unveiled Federal Reserve supervisory program will specifically target financial institutions engaged in a range of crypto-related endeavors, including trading, custody, lending, and payments. Moreover, the program is set to encompass activities linked to blockchain technology and non-bank technology partnerships. One notable requirement outlined by the

The US SEC has taken a significant step by appealing Judge Analisa Torres' final decision in the SEC vs. Ripple case.
1 month ago 1 min read

SEC Appeals Judge Torres’ Ruling in Ripple Case: What You Need to Know

The US SEC has taken a significant step by appealing Judge Analisa Torres’ final decision in the SEC vs. Ripple case. This move has the potential to impact the ongoing legal battle between the regulatory body and Ripple Labs. Let’s delve into the details of this appeal and its implications for the crypto industry. According to court records, the SEC has formally expressed its intent to appeal Judge Torres’ summary judgment, a pivotal decision that took place on July 13, 2023. In a letter submitted to Judge Torres, the SEC revealed its plans to initiate an appeal under the legal

El Salvador Grants Binance Full Crypto Exchange License in Groundbreaking Move
1 month ago 2 mins read

Binance Becomes First-Ever Fully-Licensed Crypto Exchange in El Salvador

Binance, the leading global cryptocurrency exchange, has secured two crucial licenses in El Salvador, marking its status as the first fully licensed crypto exchange in the country. The announcement comes as El Salvador continues to make waves in the cryptocurrency world by recognizing Bitcoin as a legal tender, a historic step that sets a global precedent. Binance has solidified its position as a trailblazer in the crypto industry by obtaining not just one, but two pivotal licenses in El Salvador. The Bitcoin Services Provider license (BSP) and the Digital Assets Services Provider license (DASP) were granted by the Central Reserve