Crypto news

Tesla boss Elon Musk is guilty of insider trading against his followers using Dogecoin (DOGE), alleged memecoin investors in a court filing against the tech entrepreneur on Wednesday.  The accusations are a follow-up to a $258 billion class action lawsuit filed by the same group in June 2022, accusing Musk and his companies of causing hundreds of billions in losses for Dogecoin holders.    Elon Musk Dogecoin Agenda Per the amended filing in a Manhattan federal court on May...

Popular crypto exchange Coinbase will launch Bitcoin and Ethereum futures contracts for institutional investors on June 5, the company said on its website.  The company will launch these products through CFTC-regulated Coinbase Derivative Exchange, promising lower fees than other US-regulated derivatives exchanges.  BTI and ETI for Institutional Investors   Coinbase has partnered with leading FCMs (Futures Commission Merchants), brokers, and front-end providers to enable...

The Twitter account belonging to OpenAI CTO Mira Murati was hacked on Thursday, and used to promote a scam crypto token supposedly backed by the company.  The tweet stayed online for roughly an hour, garnering 80,000 views from platform users before being taken down.  Another Scam AI Token The hacker promoted a fraudulent airdrop for ‘OPENAI’ token, described as a “groundbreaking token driven by artificial intelligence-based language models.” Mira Murati’s (CTO at @OpenAI)...

In a report recently published by the Consumer Financial Protection Bureau (CFPB) of America, regulators warn that crypto and fiat held on mobile apps may not actually benefit from the FDIC’s policy of insuring up to $250k per depositor. Non-Bank Services Not Covered According to the report, an unfortunate consequence of the rise of payment services and apps such as PayPal or Venmo is that consumers are often given the impression that in the event of the platform going...

Will the Federal Reserve stop raising interest rates next month? For Bitcoin investors, the answer may not actually matter.  According to BitMEX co-founder Arthur Hayes, Bitcoin’s price and inflation will rise in tandem precisely because of hawkish central bank policy – contrary to what modern monetary theory would suggest.  How Rising Rates Will Increase Inflation In a Thursday blog post titled “Patience is Beautiful,” Hayes outlined why the economy’s ever-expanding...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Meme coins are all the rage, and now it appears one based on the infamous image of Pepe the Frog is making waves in the crypto industry and witnessing price hikes like no other in its category. Pepe the Frog Is Now a Currency! Meme coins have always been extremely popular. One of the biggest ones – Dogecoin –...

Payrolls rose 339,000 in May, exceeding expectations and indicating a resilient labor market. The US economy continued to generate employment in May, despite macroeconomic challenges. Nonfarm payrolls increased to 339,000, significantly surpassing Dow Jones’ expectations of 190,000, as a result, May marked the twenty-ninth consecutive month of positive job growth in the country. According to the US Bureau of Labor Statistics, although the unemployment rate rose to 3.7% compared to the...

zkPass protocol was selected from a list of more than 900 applicants and will now receive strategic funding from Binance Labs as well as four other finalists. A decentralized open-source protocol that focuses on identity verification solutions zkPass has been crowned the winner of a metaverse show sponsored by the leading cryptocurrency exchange Binance. According to the announcement, the Binance metaverse show was seeking to crown the next big Web3 entrepreneur amongst a huge group of...

Through its privacy commission, Japan issued a warning and threatened to take action against OpenAI if it violates any privacy regulation. Japan’s privacy agency has announced it issued a warning to OpenAI on using or collecting user data. The Personal Information Protection Commission (PPC) urged the ChatGPT creator to only collect sensitive information with consent from users. In the statement, the privacy watchdog suggests it is currently not investigating OpenAI for any breach of...

The debt ceiling bill’s approval provided even another reason for the positive rally in stock futures. In an exciting development, US stock futures have continued to soar as traders make meaning of the highly anticipated May jobs report and celebrated the passing of a debt ceiling bill by United States lawmakers. According to reports, futures on the Dow Jones Industrial Average (INDEXDJX: .DJI) rose by 180 points or 0.5%. Similarly, futures connected to both the S&P 500 (INDEXSP:...