Crypto news

Binance – the world’s largest cryptocurrency exchange – announced on Wednesday a feature that will allow its community to easily provide the company with comments and feedback.  The tool will let users effectively participate in forming Binance’s product roadmap. Listening to the Community In a press release shared with CryptoPotato on Wednesday, Binance said the primary goal of the new tool is to gather community input on what new features it wants to see implemented. ...

South Korea is looking to amp up regulations to prevent unfair trade in the industry. As such, the Financial Services Commission issued instructions to five major crypto exchanges in the country to delist and classify digital assets that have similar properties to that of securities. The implosion of the once-prominent Terra ecosystem tokens was the first domino to fall in an ensuing series of other high-profile collapses. The subsequent failure of hedge fund Three Arrows...

The government of the United Kingdom is willing to strengthen the rules on the local cryptocurrency sector to prevent another adverse event like the FTX collapse. The recently-appointed Prime Minister – Rishi Sunak – is known as an advocate of blockchain technology, arguing the country should emerge as “a global cryptoasset technology hub.” People’s Protection is Most Important Andrew Griffith – Economic Secretary to the Treasury – revealed the government’s intentions to...

Cathie Wood’s flagship ETF – the ARK Innovation Fund – performed better in January than in any other month since it launched in 2014.  This comes after a brutal down year for the fund, which focuses on long-term investment in disruptive technologies – including the crypto industry.  ARK Bounces Back In January, ARK registered a total gain of about 28%, with a 3.7% gain on Tuesday alone. Starting the month at roughly $30, it trades for $39.72 at writing time.  The gains are a...

Following another Federal Open Markets Committee (FOMC) meeting on Wednesday, the Federal Reserve agreed to raise its benchmark interest rate by 25%. Bitcoin did not react with its usual fervor to the news, continuing to trade slightly above $23,000.  The rate hike brings the Fed’s benchmark rate between 450 and 475 basis points – its highest level since late 2007. The 25-point raise was in line with market expectations, and milder than December’s 50-point hike.  Bitcoin...

Lebanon is adopting a new official exchange rate, devaluing its local currency by nearly 90%. The new rate is set at 15,000 Lebanese pounds against the U.S. dollar, according to a January 31 report, which cited a statement from the country’s central bank governor, Riad Salameh. This marks a significant shift from the old rate of 1,507 Lebanese pounds per dollar. The official Lebanese currency has been pegged to the dollar at that rate since 1997. Salameh stated that...

Bitvavo – a Dutch bitcoin exchange – has rejected a proposal from the Digital Currency Group (DGC) headed by Barry Silbert to repay approximately 70 percent of the debt owed to it by Genesis Trading. Bitvavo says the company has the money to pay back 100 percent of the debt and should do so without making executives wait any longer. Bitvavo Says “No Way” to the DCG Not long ago, Bitvavo announced it had just shy of $300 million locked up in Genesis. The proposal to pay...

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Legal counsel representing Celsius’ Official Committee of Unsecured Creditors has refuted recent claims that submitted bids for the crypto lender’s assets were rejected. Last week, crypto journalist Tiffany Fong claimed she received documents detailing the bids on Celsius’ crypto assets, which “for the most part, abandoned.” According to Fong, Binance, Bank to the Future, Galaxy Digital, Cumberland DRW, and Novawulf had submitted their bidding proposals for Celsius’ assets,...

The Twitter account of legendary Green Bay Packers football player Aaron Rodgers was recently hacked by crypto scammers. The Twitter Account of Rodgers Was Compromised Fans of the sportsman noticed his account was sending various crypto-related posts and messages to Elon Musk, the man who now runs the social media conglomerate. These messages contained various cryptocurrency ads and promotions and given what a center for crypto fraud Twitter has been in recent years,...