Tag Archives: AA News

Crypto venture giant Digital Currency Group (DCG) has submitted a request to dismiss the lawsuit brought by New York Attorney General Letitia James against the company. According to the NYAG, Barry Silbert allegedly concealed losses at the company, thereby deceiving customers and investors. DCG’s founder and CEO, Barry Silbert, has also filed a motion to dismiss the accusations made by the Attorney General, deeming them as “a thin web of baseless innuendo, blatant...

Bitcoin went through a massive correction to under $60,000 after blasting past a new all-time high above $69,000 on Wednesday. Experts indicate that despite the volatility, there’s continued positivity in the market, hinting at potentially strong movements in the days ahead. Correction Brings Renewed Positivity CryptoQuant’s latest analysis, for one, suggests that the ongoing correction in Bitcoin’s price is actually fostering a more positive outlook for the crypto asset. The...

Binance has announced its plans to halt its services involving the Nigerian Naira (NGN) due to heightened regulatory attention from authorities in Nigeria. The crypto exchange said that it will remove all current NGN pairs by Thursday, and any remaining NGN balances will be transformed into USDT by Friday. According to the official blog post, Binance will halt NGN withdrawals starting from March 8, following which, any remaining NGN balances in users’ Binance accounts will be...

The United States Securities and Exchange Commission (SEC) has once more postponed its decision to approve or deny the applications for spot Ethereum exchange-traded funds (ETFs) submitted by BlackRock and Fidelity. The latest delay comes weeks after the agency greenlighted several Bitcoin ETFs that have since gained massive traction. SEC Delays Decision on Ethereum ETFs On March 4, the SEC declared it would postpone the decision for BlackRock’s iShares Ethereum Trust and...

The Fantom Foundation reported that the Singapore High Court instructed Multichain to compensate it. Fantom plans to seek liquidation through the court to retrieve community assets, which include around $65 million in stablecoins that are currently frozen. Following the latest legal triumph, the platform anticipates the Singaporean court to designate a liquidator to evaluate the damages suffered due to Multichain’s security breach. Fantom Foundation Pushes for Multichain...

Bitcoin (BTC)’s meteoric rise over the past few months has many long-term holders starting to cash out their positions, on-chain data suggests. In a research newsletter published on Tuesday, Glassnode noted that long-term investors have already distributed 480,000 BTC since December 2023, from which time BTC has appreciated 45%. Bitcoin’s Distribution Phase According to lead Glassnode analyst James Check, roughly half of the old coins to started changing in the last three...

Every holder of OP, the native token of the Ethereum-based layer-2 scaling solution Optimism, is currently in profit following the asset’s surge past its all-time high. According to data shared by crypto market intelligence platform IntoTheBlock, over one million addresses holding OP, including wallets that acquired the token at $4.01, are currently in the money. The feat comes as OP surges past $4.50, crushing a high of $3.54 recorded in February. 100% of OP Holders in...

Terraform Labs co-founder Do Kwon may not be leaving for the United States any time soon after the Appellate Court of Montenegro overturned a previous decision by a lower court to extradite the former crypto exec to the US. Do Kwon is facing fraud and other criminal charges in the United States following Terra’s collapse that caused investors billions of dollars in losses, while prosecutors in his native country, South Korea, are also seeking his extradition. On March 5,...

Crypto fanatics eager for a market-shattering Ethereum spot ETF launch may be in for an underwhelming surprise, according to Bloomberg ETF analyst Eric Balchunas. While the recent launch of multiple Bitcoin spot ETFs in the United States has proven phenomenally successful, Balchunas claims a follow-up launch for Ethereum would be “small potatoes” compared to the original. Do Ethereum ETFs Matter? In a post to X on Saturday, Balchunas wrote: “No offense to the ETH people but...

Friend.tech, a Web3 social platform, has revealed that its investors have unanimously decided to waive their rights to sell tokens to users, granting them full control over the funds. The decentralized social media protocol garnered significant attention last year but has recently experienced a decline. Friend.tech Is Looking for a Comeback Friend.tech users have been speculating about a potential comeback, fueled by anticipation of an upcoming airdrop amidst criticism and...