Browsing:Crypto

Binance and CEO CZ Seek Dismissal of CFTC Charges Through Court Application
10 months ago 1 min read

Binance Files Court Application to Dismiss CFTC Charges

Binance and its CEO, Changpeng Zhao seek the dismissal of a complaint filed by the Commodity Futures Trading Commission (CFTC). The CFTC alleged that Binance crypto exchange violated the Commodity Exchange Act and other federal regulations by operating an illegal digital asset derivatives exchange that offered commodity derivatives transactions to US citizens since July 2019. According to a recent court filing, the crypto exchange is taking legal action to challenge the CFTC’s accusations. The complaint was filed on March 27, 2023, and accused Binance of intentionally violating federal law. The CFTC claimed that the exchange has been facilitating commodity derivatives

Bitcoin (BTC) experienced a sudden decrease.
10 months ago 1 min read

Why Did Bitcoin (BTC) Drop?

As the crypto market enters the week of the Federal Reserve’s interest rate decision, Bitcoin (BTC) experienced a sudden decrease. Within a one-minute timeframe, Bitcoin’s price plummeted by $700, bringing it closer to the critical $29,000 level once again. This unexpected dump raised concerns and nervousness among investors, who were closely monitoring the cryptocurrency’s performance. At present, the cause of the drop remains unknown, and there is no specific news source attributed to it. However, what’s evident is that the rapid decline triggered a significant surge in liquidations. Within the same one-minute period, approximately $30 million worth of positions in

Dogecoin (DOGE) witnessed a 5% surge
10 months ago 1 min read

Dogecoin Surges By 5% Following Twitter Rebranding, While Bitcoin Dips to $29K

Dogecoin (DOGE) witnessed a 5% surge in response to Twitter’s rebranding announcement on Monday 24, 2023, while bitcoin (BTC) slightly dropped below $29,100. The rebranding move by Elon Musk’s Twitter is part of the company’s transition to X Corp or X.AI, a division of Musk’s AI-focused group of firms known as X. Further, the world’s richest man added dogecoin’s ticker logo to his bio, sparking speculation about the most meme crypto playing a more prominent role in the rebranded company. However, amidst the excitement surrounding DOGE’s potential involvement, the Bitcoin market experienced a liquidation event. Over $30 million representing over

https://optimisus.com/news/crypto-news/chainlink-link-surges-20-to-reach-three-month-high-what-lies-ahead/
10 months ago 1 min read

StormX Token Price Experiences Volatility Amid ‘Emergency’ Contract Incident After Surging by Over 120%

The StormX token, a crypto cash-back project, has recently faced market manipulation amid what appears to be an “emergency incident” in its contract. A Binance customer service representative acknowledged the issue on Twitter and assured users that the relevant team is urgently addressing the situation. As the 268th-ranked cryptocurrency by market capitalization, StormX’s token price experienced significant fluctuations over the past 24 hours, surging from $0.0063 to almost $0.015 before retracing fully. Binance, one of the leading cryptocurrency exchanges, acknowledged the “emergency incident of the STMX contract” in a Twitter message from @sisibinance. The translated tweet indicated that the relevant

Ripple's CEO, Brad Garlinghouse
10 months ago 2 mins read

Ripple CEO Praises Congressional for Crypto Support

Ripple‘s CEO, Brad Garlinghouse, twitted to express his views on the ongoing legal dispute between Ripple and the Securities and Exchange Commission (SEC). In a series of tweets, Garlinghouse criticized the SEC’s regulation of the crypto sector, claiming that the regulatory body has exceeded its legal authority, leaving consumers vulnerable in bankruptcy court. The SEC’s recent announcement to appeal a landmark ruling in favor of Ripple has further intensified the legal saga, with potential implications for the broader cryptocurrency industry. The legal conflict between Ripple and the SEC revolves around the classification of Ripple’s cryptocurrency XRP as a security. In

Ripple has taken a step in its global expansion plans by applying for registration as a crypto asset firm with the UK
10 months ago 2 mins read

Ripple Labs Applies for Crypto Asset Registration in the UK

Ripple, the payment protocol, has taken a significant step in its global expansion plans by applying for registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA). Additionally, the company is seeking a payments license in Ireland, further solidifying its massive investment in the region. This move comes on the heels of a recent partial win against the United States Securities and Exchange Commission (SEC) over the classification of its XRP token as a security. As Ripple’s ambitions grow, more crypto firms are eyeing the United Kingdom for regulatory clarity and a supportive business environment, while

Former SEC Attorney Cautions Against Celebrations, Predicts Appeal and Uncertain Future
10 months ago 2 mins read

Ripple vs. SEC: Ex-SEC Attorney Issues Caution Amidst Victory Claims

The recent highly publicized decision in the Securities and Exchange Commission (SEC) case against Ripple has been hailed by many as a significant victory against the SEC and Chairman Gary Gensler. However, former SEC attorney John Reed Stark offers a cautionary perspective, highlighting the ruling’s shaky ground and the likelihood of an appeal that could potentially result in a reversal. As the crypto community celebrates, Stark challenges the prevailing narrative surrounding the ruling, underscoring the complexities and uncertainties that lie ahead. The court ruling on the Ripple case categorized the company’s offering of securities into three distinct categories: institutional sales,

bitcoin (BTC) making trading under $30K.
10 months ago 1 min read

Bitcoin ($BTC) Trades Under $30K Ahead of Crucial Fed Rate Decision and Options Expiry Date

The crypto market experienced another day of subdued trading, with bitcoin (BTC) trading below $30,000. Meanwhile, other major cryptocurrencies like Ether (ETH) remained relatively steady, while altcoins such as SOL and XRP showed signs of recovery after facing earlier losses. Despite the overall market drudgery, MKR, the governance token of MakerDAO, managed to secure significant gains due to a token buyback program activation. However, not all tokens fared well, as CNC plummeted by 75% following a significant exploit in the Conic Finance decentralized finance protocol. As investors anticipate a possible Federal Reserve interest rate increase and bitcoin options expiry next

The U.S. SEC recently announced its intention to appeal a federal judge's ruling in a landmark cryptocurrency case.
10 months ago 2 mins read

What Does the SEC’s Statement on XRP and Terra Mean?

In a significant development in the world of cryptocurrencies, the U.S. Securities and Exchange Commission (SEC) recently announced its intention to appeal a federal judge’s ruling in a landmark cryptocurrency case. The ruling favored Ripple Labs, stating that almost half of its XRP sales did not violate investor protection laws. This decision gave hope to other defendants facing SEC lawsuits over cryptocurrency sales. However, the SEC now seeks to challenge the ruling, causing uncertainty for defendants like Do Kwon, the jailed co-founder of crypto firm Terraform Labs. The SEC’s decision to appeal came after U.S. District Judge Analisa Torres ruled

FTX Files $1B Lawsuit to Reclaim Assets from Sam Bankman-Fried and Others
10 months ago 2 mins read

FTX Files Lawsuit Against Sam Bankman-Fried and Ex-Executives Seeking to Recover $1 Billion

FTX has taken legal action against its former CEO, Sam Bankman-Fried, and several other key executives from the now-bankrupt crypto exchange. The lawsuit aims to recover more than $1 billion in allegedly misappropriated funds. The complaint, filed in a United States Bankruptcy Court on July 20, names Caroline Ellison, former Alameda Research CEO, Zixiao “Gary” Wang, FTX co-founder, Nishad Singh, former FTX engineering director, and Bankman-Fried as defendants. The lawsuit claims that the former executives breached their fiduciary duties by continuously misappropriating customer funds. According to FTX, these funds were used to finance luxury condominiums, political and so-called “charitable” contributions,

Chainlink (LINK) Price Soars 20% to Touch Three-Month High
10 months ago 1 min read

Chainlink (LINK) Surges 20% to Reach Three-Month High: What Lies Ahead?

Chainlink (LINK), the Web3 services platform with its native cryptocurrency, has witnessed an impressive price rally, soaring nearly 20% in the last 24 hours. This surge has propelled Chainlink to reach the $8 mark, a significant milestone not seen in the last three months. Chainlink’s native cryptocurrency, LINK, plays a pivotal role in powering the platform’s decentralized Oracle network. This innovative network serves as a bridge between smart contracts on the blockchain and real-world data, enabling seamless and secure interactions. The recent surge in Chainlink’s trading price highlights the growing recognition of its utility and significance in the crypto market.

Uniswap founder Hayden Adams' Twitter account was compromised by hackers.
10 months ago 2 mins read

Uniswap Founder’s Twitter Account Hacked: Scammers Promote Fraudulent Scheme

Crypto Twitter, a vibrant community of cryptocurrency enthusiasts, was recently put on high alert when Uniswap founder Hayden Adams’ Twitter account was compromised by hackers. The scammers used the account to promote a fraudulent scheme, falsely claiming that Uniswap’s Permit2 contract had been exploited, putting users’ tokens at risk. On July 20, the “Web3 Security Alerts” channel on Telegram alerted its followers that the Twitter account of Hayden Adams, the founder and CEO of Uniswap, had been compromised. The hackers posted a tweet to Adams’ over 254,000 followers, spreading false information about the Uniswap platform’s security. The tweet urged users

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