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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

Mizar Launches Arbitrum Native Token MZR on Camelot DEX
2 days ago 3 mins read

Mizar Launches Arbitrum Native Token MZR on Camelot DEX

London, UK, 23rd March, 2023 Mizar, a platform with more than 10,000 users that aims to bring advanced and automated trading to the blockchain, is proud to announce the launch of its native token, MZR, on Camelot DEX, a fully decentralized exchange (DEX) built on Arbitrum. The emergence of Arbitrum and the launch of the $ARB token, along with its recent airdrop, have caused a buzz in the ecosystem, leading to a surge in popularity for DEXs like GMX. The Mizar team anticipates substantial growth in decentralized trading on Arbitrum over the next few years and is dedicated to being one

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

Avalanche (AVAX) Struggles with Network Outage During Upgrade
2 days ago 1 min read

The Avalanche (AVAX) Network Outage During Upgrade

Avalanche (AVAX), the up-and-coming competitor to Ethereum (ETH), recently experienced a brief network outage during a software upgrade. The X-chain, which is used to transfer funds, was significantly slowed down and processed only a few transactions, rendering it virtually unusable. At the same time, block production stopped on the C-chain, which is used for smart contracts. As a result of the outage, several crypto exchanges, including South Korea-based UpBit, temporarily halted AVAX transactions. UpBit released a statement announcing that they would be suspending AVAX deposit and withdrawal services due to a system check on the AvaX wallet. The exchange assured

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

Russian lawmakers have announced that cryptocurrency legislation
2 days ago 1 min read

Russian lawmakers set to introduce crypto legislation next month

Russian lawmakers have announced that long-awaited crypto legislation will be presented to the State Duma for debate in April. Despite the optimism expressed by the Chairman of the State Duma’s committee on the financial markets, Anatoly Aksakov, critics have raised concerns about the proposed bill. It will reportedly seek to punish illegal crypto exchanges and brokers with jail time, an approach that has been likened to draconian measures taken in the Soviet era to stamp out black market foreign currency trading. Former deputy head of the Central Bank, Sergei Shvetsov, spoke out against the proposed bill, stating that criminal liability

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
3 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

Zipmex cryptocurrency exchange is facing a potential setback in its US$100 million
3 days ago 1 min read

US$100 Million Zipmex Acquisition at Risk as Buyer Fails to Make Payment: Report

Zipmex cryptocurrency exchange is facing a potential setback in its US$100 million venture capital buyout. The buyer, V Ventures, reportedly missed a US$1.25 million payment that was due on March 23, according to a report from Bloomberg. The missed payment has put the acquisition in jeopardy, and Zipmex has been forced to take drastic measures in order to secure the necessary funds. In a letter seen by Bloomberg, the exchange revealed that it may have to liquidate its technology unit, Zipmex Technology, and suspend the division’s payroll unless it receives the funds. Zipmex has been working on a restructuring plan

Blockchain firm Radix Tokens
3 days ago 1 min read

Blockchain Firm Radix Tokens Secures $10M in Funding for Smart Contract Integration

Blockchain firm Radix Tokens has announced a successful funding round that has raised $10 million ahead of the launch of its Babylon mainnet, which will enable smart contract capability on the Radix network for the first time. The funding round was led by market maker and investment firm DWF Labs, bringing Radix Tokens’ valuation to $400 million, according to an email sent by the Jersey-based company on Thursday. Radix Tokens aims to address the risk of hacks in decentralized finance (DeFi) through its Scrypto asset-oriented smart contract language. This language provides developers with a ready-to-use tool for creating assets and

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