Day: October 30, 2020

Binance Accused of Forming Entity to Deceive Regulators in U.S.

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CZ responded to the publication stating that the document was not produced by a Binance Holdings Limited employee as claimed. According to a report initially published by Forbes, a document has been obtained exposing a foul attempt by Binance Holdings Limited to deceive the U.S. regulators as they make money from the market through a designed corporate structure. The report states that before the company’s establishment in the US, they set up a “Tai Chi entity” in a bid to distract regulators as they pretend to have a keen interest…

SBI CEO Says Japan Will Be Ideal Place for Ripple’s New Headquarters

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Ripple’s strong partner and Japanese financial giant SBI Holdings wants them to relocate to Japan as the blockchain startup faces major regulatory hurdles in the U.S. The San Francisco-based blockchain startup Ripple has recently hinted at moving out of the U.S. citing regulatory troubles. The top bosses at Ripple have expressed their frustration over the lack of regulatory clarity in the U.S. Ripple’s strong ally in Asia and Japanese financial giant SBI Holdings wants Ripple to establish its new headquarters in Japan. SBI Holdings CEO Yoshitaka Kitao also said that…

Ethereum Blockchain Now Has $2 Billion in Bitcoin as BTC Fever Taking Over DeFi Investors

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Currently, the Ethereum network holds more than $2 billion worth of Bitcoin (BTC), with investors getting creative with their holdings as they wait for the BTC’s price to rise even more. Bitcoin running on Ethereum is a hit According to Dune Analytics, the amount of synthetic Bitcoin traded on Ethereum has risen to $2 billion, a huge step forward from when it pushed past $1 billion in total value locked (TVL) at the beginning of the month. An approximate amount of 150,049 Bitcoins currently runs on Ethereum, which translates to…

Nearly 25% of ETH’s Circulating Supply Stored on Centralized Exchanges

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Crypto analytics platform ViewBase has recently found that nearly one-fourth of the circulating supply of Ether (ETH) tokens are held on cryptocurrency exchanges. Specifically, CoinTelegraph reported that 26,768,260 ETH are on exchanges, which equates to roughly 23.6% of all circulating ETH tokens. At press time, this equated to $10.3 billion. via Viewbase Join your industry leaders at the Finance Magnates Virtual Summit 2020: Register and vote for the FMLS awards   Notably, nearly all of the 26 million tokens are being kept on 10 centralized exchanges. Coinbase alone has custody…

Yearn Finance (YFI) Slips Below $10K in DeFi Bloodbath; Breakout Ahead?

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A splendid beginning for Yearn Finance in the third quarter is coming to an end with a brutal sell-off. The yield farming aggregator suffered a major blow this week as its governance token, YFI, plunged by 39 percent. In the last 24 hours alone, the cryptocurrency experienced a 10.35 percent price decline, a move that also saw it taking a brief dip below $10,000 – towards $9,600 – before recovering back above the five-figure valuation. But that did not take YFI out of its long-term downtrend. After topping out at…

NFLX Shares Up 3.70% after Netflix Raised Subscription Prices

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Netflix announced on Thursday that its customers who have subscribed to standard and premium plans will be parting away with $13.99 and $17.99 respectively. Shares of American streaming media company Netflix Inc (NASDAQ: NFLX) advanced 3.70% on Thursday to close the day trading at $504.21. The spike on Thursday was attributed to news that the company will increase current subscription prices in two months. However, during Friday’s premarket they were down approximately 2% in regards to yesterday’s close. Netflix announced on Thursday that its customers who have subscribed to standard…

Yearn.finance (YFI) Plunges To $10,000 Despite Positive Fundamentals

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Yearn.finance (YFI) has undergone a strong retracement over the past few weeks and months despite fundamental strength in DeFi. The price of the leading Ethereum-based coin has crashed from its $44,000 all-time high set at the end of August to $10,200 now. This means that the asset has slid over 76% from its all-time high. This is not the worst performance a DeFi coin has seen. A number of other tokens pertaining to this space have slid even further than 76%, but Yearn.finance’s decline has been the one garnering the…

Amazon Q3 Revenue Climbed 37% as COVID-19 Sales Tripled Its Profits

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Such a surge in Amazon’s revenue resulted from the coronavirus pandemic that made people stay at home and order online instead of doing shopping in stores.  The leading e-commerce retailer Amazon.com Inc (NASDAQ: AMZN) has announced financial results for Q3 that ended September 30, 2020. Due to a surge in online sales, Amazon reported a 37% growth in third-quarter revenue, topping Wall Street estimates and proving its position of the pandemic beneficiary. Amazon CFO Brian Olsavsky said: “Our Q3 results largely reflect the continuation of demand trends we saw when…

Bitcoin just 4 days away from historically bullish $10K price record

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Bitcoin (BTC) has spent nearly 100 days above $10,000 — and if history repeats itself, further price gains could be astronomical. As noted by various social media users this week, as of Oct. 30, Bitcoin was just five days away from trading above $10,000 for 100 days. BTC price closes in on 100 days at $10,000 According to data from analytics firm CoinMetrics compiled by Twitter user Julio Moreno, after trading above certain price points specifically for 100 days, Bitcoin subsequently gained by an order of magnitude. For example, after…