The allegations against Binance and Coinbase by the U.S. Securities and Exchange Commission have substantial ramifications for the decentralized finance (DeFi) ecosystem, and they are far from positive. DeFi has developed as a promising area within the crypto industry, aiming to disrupt established financial systems and deliver financial services in a decentralized manner. However, the
Bitcoin remains well above the crucial support at $25,250, indicating that market participants have shrugged off the news of the lawsuits by the United States Securities and Exchange Commission (SEC) against Binance and Coinbase. When markets do not stay lower for long after negative news, it is a sign that traders are looking to buy the
Bitcoin (BTC) continues with its sideways BTC price action under $27,000 on May 22 as the bulls and bears find it hard to break the stalemate. Which way Bitcoin? Notably, BTC price has fluctuated inside a narrowing ascending triangle range since May 11, defined by a horizontal resistance around $27,500 and a rising trendline support
Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service from June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move which has been exacerbated by testing prevailing market conditions. A statement from Crypto.com noted that the platform’s
Bitcoin (BTC) and Ether (ETH) are due volatility — but not thanks to “toothless” United States regulators, new analysis says. In its latest market update on June 9, trading firm QCP Capital told market participants to gear up for macro-fueled price action for BTC and ETH. Related: Why is Bitcoin price stuck? QCP Capital: U.S. crypto
Custodia Bank won a step forward in its legal battle against the Federal Reserve, as a Wyoming federal judge denied dismissal motions from both the Fed and the Federal Reserve Bank of Kansas City. The digital asset bank sued the Federal Reserve in June 2022, claiming an “unlawful delay” in processing an application for its
Stablecoin issuer Tether (USDT) has reached into its own war chest to invest in El Salvador’s $1 billion renewable energy project to help drive Bitcoin (BTC) adoption in the Central American nation. The firm responsible for issuing USDT across cryptocurrency markets is one of a handful of companies investing in El Salvador’s renewable power generation project.
Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own
The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC
Crypto venture capital firm Paradigm has slammed the U.S. Securities and Exchange Commission’s attempt to redefine the term “exchange” — which would if accepted, bring decentralized exchanges under its purview. On June 8, the firm sent a lengthy 14-page letter to the SEC Secretary, Vanessa Countryman, regarding the regulator’s proposed redefinition of the term “exchange”
Bitcoin (BTC) abandoned the United States during the 2022 bear market, new research suggests. In a tweet on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin. BTC supply moves to Asia The past year has seen some seismic shifts in where Bitcoin is held and traded. In
Bitcoin might have displayed strength by quickly recovering from the $25,500 support level on June 6, but that doesn’t mean that breaking above $27,500 will be an easy task. Investors still expect stricter regulatory scrutiny after FTX’s bankruptcy in November 2022, including the recent suits against Coinbase and Binance. A total of eight cryptocurrency-related enforcement actions have been
Grill.chat, a chat app based on the Subsocial network, has now implemented Ethereum Virtual Machine (EVM) wallet compatibility, allowing users to chat using their Ethereum identities and send crypto to each other via Polygon, according to a June 7 announcement. Subsocial is a Polkadot parachain designed for social media applications. Grill.chat allows users to participate in
Alibaba NFTs… censored? On June 8, AliExpress, the online retail subsidiary of Chinese tech conglomerate Alibaba, announced that it had joined forces with Web3 developer The Moment3! to create a series of NFTs based on shopping themes. The upcoming collection will feature 5,555 NFTs and is scheduled to debut on June 25, 2023. Less than
The founder of CryptoLaw, Pro-XRP lawyer John Deaton, has weighed in on the controversial Hinman speech document. Deaton has argued against the SEC’s claims that the emails and speech drafts represented Hinman’s personal opinion. In a May 24 tweet, the attorney said the 63 emails and 52 speech drafts are too much to be tagged “personal
In this week’s episode of Market Talks, Cointelegraph welcomes Lark Davis, who has been actively involved in the world of cryptocurrency since 2017. He is a Bitcoin (BTC), crypto and stock investor and boasts over 1 million followers on Twitter and over 470,000 YouTube subscribers. In today’s discussion with Davis, we first get to know him
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