Crypto news

On August 19, The Federal Deposit Insurance Corporation (FDIC) issued various cease and desist letters to five cryptocurrency companies including FTX US, owned by the crypto billionaire Sam Bankman-Fried, along with news outlets Cryptonews.com, Cryptosec.info, SmartAsset.com, and the site FDICCrypto.com. The FDIC asked the aforementioned companies to cease making “false or misleading statements” regarding their relationship with the FDIC. According to the FDIC, FTX US and the...

Binance’s US subsidiary announced receiving its Money Transmitter License from the Nevada Department of Business and Industry, Financial Institutions Division. The latest move is part of the company’s plans to offer its fully regulated services in all of America’s 50 states and territories. Speaking about the license approval, Brian Shroder, Chief Executive Officer of Binance US, said, “We continue to take the necessary steps to ensure we are operationally compliant across...

The Securities and Exchange Commission of Thailand (Thai SEC) has asked crypto investors in the country to be careful with DeFi transactions, terming them risky. The watchdog argued that local regulators have no control over the up-and-coming industry. Popular but Not Full-Proof In a statement on Wednesday, the financial and capital markets watchdog said DeFi services have become popular, especially deposit taking and lending services. But these services are risky as the...

Cardano co-founder Charles Hoskinson has responded to critics who claim that the Vasil hard fork is being rushed after a critical bug was identified in version 1.35.2, which was supposed to be used for the upgrade. Hoskinson noted that everyone, including the network’s stake pool operators (SPOs), has thoroughly tested the code for months. He added that the vulnerability in 1.35.2 was removed in version 1.35.3, released earlier this week after the bug was found. Hoskinson:...

The Seychelles-based cryptocurrency exchange Huobi has provided a timeline explaining its actions during HUSD’s de-pegging event on Thursday.  The exchange confirmed that the problem began with the stablecoin’s issuer. According to a tweet from Huobi, the firm detected “unusual price fluctuations” from its namesake stablecoin at 10:05 UTC on August 18.  Within five minutes, Huobi contacted the issuer of HUSD, Stable Universe Limited.. By 10:30, both the exchange and issuer...

The Internet and Mobile Association of India (IAMAI) has released a statement saying that its Blockchain and Crypto Council (BACC) is now fully dissolved. Apparently, blockchain isn’t that big of a deal within the country. The BACC in India Is Dissolving The BACC was first established in 2017. Things appeared to be booming throughout the last four years, but now that the crypto space is experiencing its harshest bull market to date, regulators have decided that the BACC...

It has been a tough year for crypto miners who had to sell their coins to cover their costs and fund expansion as well as for the repayment of debts. But this trend appears to be continuing into the third quarter of the year for some. Bitcoin price successfully broke out before facing rejection near the $25,000 level. Since then, it has been on a downtrend. This has resulted in mounting sell pressure on Bitcoin miners. However, during the brief upswing in early August, they...

Mixers within the crypto community are experiencing huge booms in business despite the crypto space crashing like it never has before. Mixers Have Been Quite Active Mixers are individuals or businesses that take digital currencies garnered through illicit means and hide them amongst legitimate assets. The process keeps the identities of the parties receiving the crypto quiet while making it appear as though they are not engaged in illicit activity. As time has gone by,...

Negative sentiment has dominated the market this week as Ethereum failed to reclaim the $2000 level. The bears are attempting to pull the price back below the breakout level and trap the bulls. Technical Analysis By: Grizzly The Daily Chart The bears stepped in to induce a 16% decline over the past six days after Ethereum was rejected from $2,000. Consequently, the appearance of the rising wedge pattern (in yellow) could be a signal that the bearish trend might extend. The...

Things took a turn for the worse in the past seven days as the leading cryptocurrencies plunged. The total market capitalization is down some $115 billion in seven days as multiple leading coins dropped by double-digit percentages. With that said, let’s unpack. Bitcoin trades at around $21,500, which is exactly 10% below its price at this time last week. The leading cryptocurrency by means of total market capitalization failed to overcome the critical resistance at $25K, and,...