Tag Archives: Story of the Day

The rumor in the air has been that Binance has shutdown its Shanghai following a police raid. On Thursday, November 23, several online publications including CoinSpeaker reported that Binance has relocated its 100-member Shanghai team to other offices in Singapore.The report also states that Binance has planned to shut down its Shanghai office completely. Furthermore, it added that Binance CEO and founder Changpeng Zhao and the company’s Chief Marketing Officer (CMO) Yi He, have already moved...

Recent reports currently suggest that one of the world’s largest cryptocurrency exchanges, Binance, has had its Shanghai office shutdown causing its many staff members to either work remotely or even completely abandon China and move to Singapore. According to sources familiar with the matter as cited by The Block, there is currently no fully functioning Binance Shanghai anymore.The cited sources have also added that the office was recently raided by police in the area, for unknown reasons....

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In recent months, Bitcoin price has slowly descended from the 2019 high of $13,880 to the current levels of just above $8,130. This plunge is beginning to put weak miners out of business. In the past week, Bitcoin’s mining difficulty plunged 7% abruptly. That drop enabled miners to easily solve algorithms and mine blocks.That development means that the weak miners and those that encounter high operating costs are constantly going out of business. The new move does not go well with the bitcoin...

Galaxy Digital Holding Ltd. started two new Bitcoin funds special because, well, they’re meant to be for a specific demographic profile of investors.Mike Novogratz (54) decided to use the fact that there is plenty of wealthy Americans aged 50-80 and, until now, they were pretty much into more traditional types of investing such as stocks or pension funds. Cryptocurrencies surely weren’t one of the ways they thought they could increase their wealth. However, Novogratz thinks there might be a...

Boston-based mutual fund behemoth Fidelity, that has incorporated more than $2.8 trillion in assets, has finally won its license from the New York State Department of Financial Services, the company confirmed on Tuesday.Actually it’s the subsidiary of this giant, called Fidelity Digital that has been opting for the license since July this year. The license will enable it to work with New York companies by offering them custody services and cryptocurrency trading.The company said in the blog...

Even though the world of social media is a global affair, all fingers are certainly not equal and like any other consumer market, various platforms fight for dominance among users with some faring better than others. Facebook, in particular, has been a mainstay within the social media market for over a decade and this includes Facebook itself as well as Messenger, Instagram, WhatsApp and so on. However, there is a new crop of social media platforms that threaten its dominance and are reaching...

After a poor drag down last week, the overall cryptocurrency market is showing signs of mild recovery today. While the crypto markets are eyeing a northward journey, Bitcoin still looks hesitant to take the lead.Last week, Bitcoin took a hit as the BTC price first slipped below $9000 and later even below its crucial support at $8700. Now, at press time, Bitcoin is trading at $8641.61 with a market cap of $156 billion. While Bitcoin has been showing a mild response to the market recovery, some...

Ever since Facebook announced its Libra project in June 2019, it has been knocking the doors of regulators for approval. Over the last few months, the social media giant had a tough time dealing with global regulatory authorities.But this has not deterred Facebook from furthering its development for its native cryptocurrency Project Libra. Last week, the Libra Association released a developer update. The update announcement mentioned that the Libra Project is running for five months and...

Traditional markets and indexes are currently hitting new records. In one such first-ever milestone, the Dow Jones Industrial Average rallied to a record 28,000 plus levels on Friday. The rally comes amidst waning tensions in the U.S.-China trade war with the hope of reaching a trade deal between the two economic powerhouses.On Friday, November 15, Dow Jones’s 30-stock average climbed 222.93 points at 28,004. In just the last four months, the Dow Jones price index has surged by 1000 points....