Binance CEO Changpeng Zhao (CZ) dismissed the layoff news as FUD
10 months ago 1 min read

Binance CEO Dismisses Layoff Allegations as FUD Amidst Talent Concentration Efforts

Binance, a prominent cryptocurrency exchange, has been at the center of attention following allegations of significant layoffs. According to a report by the Wall Street Journal (WSJ), the exchange allegedly laid off over 1,000 employees. In response, Binance CEO Changpeng Zhao (CZ) dismissed the news as FUD (Fear, Uncertainty, and Doubt), stating that the reported figures are inaccurate. The WSJ report claimed that Binance had laid off more than 1,000 employees, triggering concerns and speculation about the exchange’s stability. CZ addressed these allegations by describing them as FUD and emphasizing that involuntary layoffs are a common occurrence in companies striving

Coinbase Halts New Staking Assets in Four US States Amid Regulatory Challenges
10 months ago 1 min read

Coinbase to Stop Staking Services in Four US States

Coinbase, a leading global cryptocurrency exchange, has announced its decision to discontinue accepting new staking assets from customers in four US states. The move comes as Coinbase faces ongoing regulatory disputes, primarily with the U.S. Securities and Exchange Commission (SEC) and certain state regulators. The SEC and state regulators have raised objections to Coinbase’s staking program, alleging that it involves the sale of unregistered securities. In June, the SEC filed a lawsuit against Coinbase, accusing the exchange of violating securities laws by launching a lending product that allowed users to earn interest on their crypto assets. Coinbase has strongly denied

Celsius Seeks Recovery of $150M MATIC, ETH, and DOT from StakeHound through Lawsuit
10 months ago 1 min read

Celsius Files Lawsuit to Recover $150M Worth of MATIC, ETH, and DOT from StakeHound

Celsius, a lending platform, has initiated legal action against StakeHound in an effort to recover $150 million worth of ether (ETH), polygon (MATIC), and polkadot (DOT). Celsius alleges that StakeHound, a third party entrusted with the tokens, failed to fulfill its obligations, leading to significant losses for Celsius. Celsius asserts that in January and February 2021, it entrusted StakeHound with 25,000 native ETH ($47 million) and 35,000 native ETH ($65.9 million) respectively. However, StakeHound’s third-party security provider allegedly lost the private keys associated with the 35,000 native ETH from February. StakeHound claimed that due to the key loss, it was

Digitex Founder Settles CFTC Action with $16M Payment and Trading Ban
10 months ago 2 mins read

Digitex Founder to Pay $16M and Faces Trading Ban in CFTC Resolution

Adam Todd, the founder of crypto exchange Digitex, has been directed by a federal court to pay nearly $16 million to settle allegations of operating an illegal platform and attempting to manipulate the native token, DGTX. The U.S. Commodity Futures Trading Commission (CFTC) announced the resolution, which marks their first case involving a decentralized finance (DeFi) platform that failed to register as an exchange. The court found Todd guilty of violating commodities laws and imposed a trading ban on him. However, the question remains whether Todd or the company has the financial resources to reimburse affected customers. The judge presiding

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