It appears every dog shall have its moon, as well as its day, as BONK—a meme coin on the Solana network that saw a huge jump in value earlier this week—rose even higher today, logging a more than 25% spike, according to CoinGecko. The pump comes as Binance, the world’s largest cryptocurrency exchange, announced that it will be launching a…
In this week’s newsletter, read about the creator of a Mutant Ape Yacht Club (MAYC) knock-off pleading guilty to fraud charges, check out how OpenSea’s non-fungible token (NFT) users received a massive phishing email campaign, and how Bitcoin transaction fees flipped Ethereum network fees as the hype for Ordinals resurfaced. In other news, game distributor G2A has launched a gaming-focused…
The cryptocurrency market recently experienced events that were previously expected to present a severe negative price impact, and yet, Bitcoin (BTC) trades near $37,000 on Nov. 22, which is essentially flat from three days prior. Such performance was utterly unexpected given the relevance of Binance’s plea deal on Nov. 21 with the United States Authorities for violating laws involving money…
In a Nov. 22 YouTube video, Cardano founder Charles Hoskinson reflected on the news that Binance CEO Changpeng “CZ” Zhao has stepped down from the exchange. Hoskinson claimed that this event represents “the end of an era.” He argued that entrepreneurs g will need to comply with regulation or else develop completely permissionless protocols that can’t be regulated. The End…
In the wake of the stunning revelation yesterday that leading crypto exchange Binance and the company’s CEO, Changpeng Zhao, both pled guilty to criminal charges in the United States, the platform has seen an exodus of almost $3 billion worth of user funds. In the 24 hours since reports broke that Zhao agreed to step down as Binance’s CEO and…
Officials with the U.S. Justice Department, Treasury, and CFTC alleged Binance “lacked basic safeguards” to protect against sanctions and Changpeng Zhao committ… Source: https://cointelegraph.com/app/public/index.php/news/us-officials-announce-binance-settlement
Traders hate uncertainty; hence, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice is likely to be viewed as a positive for the cryptocurrency space. Analysts largely remained positive on the deal, but a few sounded cautious due to the Securities and Exchange Commission’s pending lawsuit against Binance. Bitcoin (BTC) and several major altcoins fell…
Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust.…
HTX, formerly Huobi Global, suffered an estimated loss of $13.6 million as part of the $86.6 million HECO Chain bridge exploit on Nov. 22. According to a report by blockchain security firm Cyvers, the losses stem from three compromised hot wallets with users and exchange assets swapped for Ether and distributed to various Ethereum addresses thereafter. Among other coins and tokens, Cyvers says that…
Bitcoin and Ethereum were mostly trading sideways on Wednesday after news that Binance’s boss stepped down from the world’s largest crypto exchange and pleaded guilty to anti-money laundering violations sent the BNB token plummeting. CoinGecko data showed that Bitcoin was trading for $36,609 as of this writing—a drop of 2% in the past day. Over the past seven days, it’s…
