Browsing:Market

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

Winklevoss
10 months ago 2 mins read

John E Deaton Urges Cameron Winklevoss to Consider Legal Action Against Digital Currency Group (DCG)

John E Deaton, the founder of the US crypto regulatory news platform CryptoLaw, has suggested that Cameron Winklevoss take legal action against Digital Currency Group (DCG) after carefully analyzing Winklevoss’ open letter to Barry Silbert. In a recent Twitter post, Deaton, a pro-XRP attorney, emphasized that if Cameron could substantiate his claims, it would be wise to file a lawsuit against Silbert and his company. Today, Cameron Winklevoss, a prominent American investor, took to Twitter to share a thread that included a screenshot of his open letter addressed to Barry Silbert, the CEO of venture capital firm DCG. This new

Winklevoss Twins' Gemini Demands $1.47 Billion Payment in 'Final Offer' from DCG
10 months ago 1 min read

Winklevoss Twins’ Gemini Demands $1.47 Billion Payment from DCG in ‘Final Offer

Cameron Winklevoss, the co-founder of the popular crypto exchange Gemini, has issued a stern ultimatum to Barry Silbert, founder of Digital Currency Group (DCG). In a public letter, Winklevoss demanded the repayment of a staggering $1.46 billion debt owed by DCG, or else face legal action. The dispute revolves around over $1.2 billion worth of assets stuck in Genesis Global, a company owned by DCG, which has left Gemini Earn users in a state of uncertainty. Winklevoss’s final offer to DCG includes a demand for payments totaling $1.465 billion, with a significant portion due by July 21. The proposal also

Binance Spot Trading Volume Plunges 70% Amid Regulatory Pressures and Bitcoin Fee Reintroduction
10 months ago 2 mins read

Binance Spot Trading Volume Drops by 70% Amid Regulatory Pressures and Bitcoin Fee Reintroduction

Binance, one of the world’s largest cryptocurrency exchanges, experienced a 70% decline in spot trading volume during the second quarter of this year. The introduction of fees for its most liquid Bitcoin pairs and increasing regulatory pressures were the key factors behind this slump, according to data from Kaiko. The decline in spot trading volume was not unique to Binance, as other major exchanges such as Coinbase, Kraken, OKX, and Huobi also witnessed a significant drop in trading activity during the same period. The reintroduction of fees for its most liquid Bitcoin pairs was a major contributing factor to the

BlackRock Reapplies for Bitcoin Spot ETF Alongside Nasdaq and Coinbase
10 months ago 2 mins read

BlackRock Resubmits Application for Spot Bitcoin ETF After Initial Arrangement

BlackRock, the world’s largest asset management company, is making another attempt to launch a Bitcoin spot exchange-traded fund (ETF) in the United States. In partnership with Nasdaq and Coinbase, the firm has re-submitted its application to the U.S. Securities and Exchange Commission (SEC). If approved, this ETF would be a significant milestone, marking the first-ever spot Bitcoin ETF in the country. However, the road to regulatory approval for such ETFs has been challenging, with previous applications facing concerns about market manipulation, investor protection, and custody issues. The SEC has been cautious in granting approval for Bitcoin ETFs, as they involve

Hong Kong has taken a significant step towards embracing the potential of blockchain technology by establishing the Task Force
10 months ago 2 mins read

Hong Kong Establishes Task Force to Drive Blockchain Innovation and Development

Hong Kong’s local government has taken a significant step towards embracing the potential of blockchain technology by establishing the Task Force on Promoting Web3 Development. Led by Financial Secretary Paul Chan, the task force aims to harness the benefits of blockchain technology, such as low costs, transparency, and disintermediation, to drive advancements across various industries. This move aligns with Hong Kong’s ambition to become a global hub for digital asset trading and Web3 innovation. Comprised of 11 members from government agencies and supported by 15 advisory members representing business and industry sectors, the task force aims to provide recommendations for

Twitter's Rate Limit Controversy Prompts Cardano Founder Charles Hoskinson to Take a Break
10 months ago 1 min read

Cardano Founder Charles Hoskinson Takes Break from Twitter Amid Rate Limit Controversy

Cardano founder Charles Hoskinson recently announced on Twitter that he would be stepping back from the social media platform for a brief hiatus. This decision comes in the midst of an ongoing controversy surrounding Twitter’s implementation of reading limits on its users. Twitter, led by CEO Elon Musk, introduced these restrictions as a response to combat “extreme levels” of data scraping and system manipulation. However, the move has faced significant backlash, resulting in service disruptions and user frustrations. The rate limit issue has generated a mix of humor and frustration within the community. Some users made playful references to Hoskinson

Binance Research has revealed that institutional investors are bullish on the crypto industry.
10 months ago 1 min read

63.5% of Institutional Investors Remain Bullish on Crypto, Binance Survey Reveals

A recent report by Binance Research has revealed that institutional investors are bullish on the crypto industry. The study found that a significant majority of respondents hold a positive view of the sector for the next 12 months, as well as over the next decade. The report also found that institutional investors believe that regulatory clarity and increased institutional involvement will be key drivers of crypto adoption. Additionally, the report suggests that a significant proportion of institutional investors have maintained or increased their crypto allocation over the past year. Positive Outlook for Crypto According to the “Institutional Crypto Outlook Survey”

South Korea Enacts Landmark Crypto Legislation to Safeguard Investors in Wake of Terra Collapse
10 months ago 2 mins read

South Korea Implements New Crypto Regulations Following Terra Incident

South Korea is making a significant move to protect crypto investors in the aftermath of the Do Kwon’s Terra empire collapse. The government has recently passed the Virtual Asset User Protection Act, aimed at creating a safer environment and preventing “unfair” trading practices in the crypto market. This groundbreaking legislation is a comprehensive integration of 19 separate crypto-related bills, setting clear definitions for digital assets and establishing a legal framework to penalize illicit trading activities. The Act aims to apply the Capital Market Act to digital assets with security-like characteristics, enabling the authorities to take stringent actions against those engaged

Terraport DeFi
10 months ago 1 min read

$1 Billion Hack on Terraport DeFi: TerraCVita Launches Investigation

Terraport DeFi, a decentralized finance (DeFi) platform on the Terra blockchain, has been hacked, with nearly $1 billion in community-owned funds stolen. The hack occurred on June 28, 2023, following the Cosmwasm V 2.1.0 upgrade. The attackers managed to steal 15 billion Terra Luna Classic (LUNC), along with 9.4 million Terra Classic USD (USTC) and 9.1 million Terra 2.0 (LUNA). Unfortunately, a substantial portion of the stolen funds has been irretrievably moved to Tornado Cash, a crypto mixer that has been banned by the US government since late last year. The Terraport team is working closely with centralized exchanges to

North Carolina lawmakers have passed a bill that paves the way for a study on investing in digital assets
10 months ago 1 min read

North Carolina Representatives Propose Adding Bitcoin and Gold to State Treasury

North Carolina lawmakers have passed a bill that paves the way for a study on investing in digital assets, particularly Bitcoin, and precious metals like gold. The bill aims to assess the potential benefits of diversifying the state’s General Fund through holdings of Bitcoin and gold, with the goal of hedging against inflation, reducing portfolio volatility, and achieving better long-term returns. If approved by the state’s Senate and signed into law by Gov. Roy Cooper, North Carolina could take a significant step towards safeguarding its assets in an era of monetary devaluation. Content: The recently passed bill, titled “State Precious

The XRP price has shown a 2% increase in the past 24 hours
10 months ago 2 mins read

Can XRP Reach $4 Before the End of 2023?

The XRP price has shown a 2% increase in the past 24 hours, reaching $0.476333, as the wider cryptocurrency market also experiences gains. This recent uptick provides some recovery for XRP holders after recent losses. However, XRP remains down 3% in the last seven days and 6.5% in the last 30 days, despite a 40% increase since the start of the year. The potential for XRP to reach new highs hinges on the outcome of Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which is expected to conclude in the coming months. If Ripple secures a positive

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