Crypto news

Bitcoin registered two consecutive days of price increases for the first time in a while as it pumped from under $25,000 to just shy of $27,000 within this timeframe. ETH’s performance is rather similar, as the second-largest crypto now sits at $1,750. Most other altcoins are in the green as well. BTC Soars to Weekly High The SEC’s lawsuits against Binance and Coinbase took their toll on the cryptocurrency market, with BTC slumping last week to $25,400, even though it wasn’t...

After several days of depressing price movements, bitcoin finally went on the offensive and shot up by almost $2,000 in the past 24 hours to register its highest price tag since June 8. Expectedly, this has resulted in millions of dollars worth of liquidations, with short positions representing almost 80%. Following the SEC’s lawsuits against the two largest crypto exchanges – Binance and Coinbase – as well as the CPI numbers from Wednesday and the Fed’s pivot from its...

Binance is also preparing a BNB Chain layer-2 scaling solution to improve network transaction speeds and costs. Separately, the firm announced on June 15 that Binance Pool has launched a “Bitcoin Transaction Accelerator.” The new solution will allow users to confirm their transactions on the Bitcoin network quicker regardless of any potential network congestion issues, it noted. Binance Pool is the exchange’s service platform dedicated to improving the income of BTC miners....

The authorities of Montenegro reportedly consider extending Do Kwon’s custody in the country for another six months before taking an official decision on his possible extradition. The homeland of Terraform Labs’ co-founder – South Korea – and the world’s biggest economy – the United States of America – have both requested his deportation. The Montenegrin police arrested the 31-year-old developer in March this year after he was supposedly on the run for several months,...

In a letter to employees, Binance said it foresees protracted and expensive litigation with the US Securities and Exchange Commission (SEC) and asked Binance.US management to reduce the size of its workforce across the division. The job-cut decision is likely to affect about 50 employees. Job Cuts at Binance.US A Bloomberg report noted that a number of employees at Binance’s US affiliate have been laid off. While a firm spokesperson confirmed the lay-offs, the exact number of...

DAI stablecoin, with a circulation of around $4.6 billion, has surpassed BUSD amidst mounting legal troubles for the world’s largest crypto exchange, Binance. The market capitalization of BUSD has declined to $4.3 billion following the regulatory drama that started earlier this year. According to data from CoinMarketcap, BUSD circulation is down over 70% since the beginning of the year. During the same period, the circulation of DAI has also retraced but by only 20%. BUSD was...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Buncombe County commissioners in North Carolina are taking a page out of New York’s crypto playbook and are enforcing a one-year moratorium on all crypto mining operations so they can explore regulations and laws. North Carolina County Halts Crypto Mining Planning director Nate Pennington said in an interview:...

There aren’t too many favorable developments within the cryptocurrency community lately. It all started last Monday when the US SEC decided to begin a legal battle against Binance and doubled down on its crackdown against large crypto exchanges by suing Coinbase the very next day as well. Expectedly, these rather unexpected events led to massive price crashes for the majority of crypto assets. Nevertheless, many managed to recover most losses by the end of last week, but it...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up A new bill proposed by New York Attorney General Leticia James would give her state a basic framework for crypto regulation. Among the provisions in the bill are exchanges being required to reimburse customers if they are the victims of fraud or theft. Leticia James Seeks to Introduce Basic Regulation New York...

UK’s Competition and Markets Authority (CMA) has given a go-ahead to the deal noting that Amazon is not violating any competition concerns. Earlier today on Friday, June 16, Britain’s competition regulator gave a go-ahead to Amazon for its planned acquisition of the Roomba vacuum cleaner maker – iRobot Corporation. UK’s Competition and Markets Authority (CMA) said that they have cleared the deal which would not lead to any competition concerns in the country. Earlier in April 2023, the...