Day: March 12, 2021

Alameda Research invests $20M in Reef Finance

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After investing in travel app Maps.me and decentralized finance protocol Oxygen, Alameda Research will be putting $20 million into Reef Finance, the Polkadot-based DeFi platform. According to Reef Finance, Alameda Research will be purchasing $20 million worth of the firm’s native tokens, REEF — roughly 528 million at the current price of $0.03787. The investment will reportedly allow the two companies to collaborate on technology and strategy “in the near future.” Reef CEO Denko Mancheski added the additional funds would help the firm develop DeFi applications for the Reef blockchain.…

Cointelegraph Consulting: Who is winning the battle of the DEXs?

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Analysis of the user behaviors captured on DEXs across the various layer one and two networks. Decentralized exchanges have continued to increase their market share, spurred on by high Ethereum gas prices, a rapid release of decentralized token sales, and layer two networks incentivizing developers to make their protocols accessible to users on different networks. The latest findings by Covalent in Cointelegraph Consulting’s biweekly newsletter indicate that the top DEXs on Binance Smart Chain, Avalanche C-Chain, and Polygon (formerly Matic) began to rise in volume as Ethereum gas prices pushed…

DOGECOIN CRYPTOCURRENCY NEWS UPDATE 🔥| Elon Musk Said This Today 😯| 195,042 Dogecoins Cryptocurrency

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Bitcoin Drops to $55k on News of the US CFTC Investigating Binance

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In brief: According to Bloomberg, the US CFTC is probing Binance on whether it allowed US residents to trade derivatives on the platform Bitcoin took a $2k nosedive from $57k to $55k as a result March 12th might be a cursed date for Bitcoin as the Coronavirus dip happened exactly one year ago The US CFTC (Commodity Futures Trading Commission) is reportedly probing whether Binance knowingly allowed US residents to trade derivatives on the platform. According to Bloomberg, the CFTC is investigating Binance on concerned that it allowed Americans ‘to…

Binance reportedly under CFTC investigation over US-based trading activity

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Binance, the world’s largest cryptocurrency exchange by trade volume, is reportedly under investigation by the United States Commodity Futures Trading Commission regarding possible trades made by U.S.-based customers. Binance Holdings Ltd is being investigated by the watchdog concerning possible derivatives trades made by American customers, Bloomberg reported on Friday, after being tipped off by an anonymous source. The exchange has not yet been accused of any wrongdoing, however, regulators are now reportedly seeking to determine whether cryptocurrency derivatives were bought and sold by U.S citizens on the Binance platform. A Binance spokesperson…

Anonymous Group Claims Blockfi Facing Solvency Issues Due to Exposure to the BTC Trust – Featured Bitcoin News

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An anonymous group has claimed that Blockfi, which has an estimated $1.8 billion in customer assets invested in Grayscale Investment’s GBTC, is facing potential insolvency issues associated with the negative premium on the GBTC shares. Using the negative premium of minus 7.89% on the GBTC shares to illustrate the extent of the problem, the anonymous group posits that Blockfi faces a loss of $232 million. Anonymous Group Alleges Blockfi Insolvency Threat According to a statement posted on the anonymous group’s website, Blockfi, which is promising its investors an annualized interest…

Bitcoin, ETH and BNB Record Continuous Gains

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Generally, the crypto market has been surging over the past months, resulting in an increase in several digital assets. The price of Bitcoin rebounded this week, causing a rise in altcoins like Ether (ETH) and Binance native token BNB. Notably, several factors have been influencing the continuous spike in BTC price. Following Tesla Inc (NASDAQ: TSLA) announcing its $1.5 billion investment in BTC, the digital asset jumped and stirred reactions from the crypto community, who are expecting the next public-traded company to acquire Bitcoin. Bitcoin also got a boost after…

Ripple Labs Executives File to Dismiss SEC Request for Personal Finance Information

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Both Ripple Labs execs have filed to squash SEC subpoenas to six banks that they provide personal financial information as part of the lawsuit. Ripple Labs Chief Executive Officer Brad Garlinghouse and Executive Chairman Chris Larsen are currently in a row with the US Securities and Exchange Commission (SEC). The Ripple Labs executives are refusing a demand from the SEC to obtain their personal financial information.  The SEC is investigating Ripple Labs and has claimed that the company deliberately misled its investors. The Commission is also claiming that Ripple manipulated the…

Binance Coin (BNB) Price Rebalancing as Its Journey to Retest ATH Picks Up Pace

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In a bid to offer more incentives to its investors, traders, and global supporters, the Binance exchange has launched a revised version of staking reward for BNB holders. Binance Coin (BNB), the native digital currency of the Binance cryptocurrency exchange, is rebalancing after being caught up in the volatility that has embroiled the market in the past week. Since the digital coin dropped after journeying to its all-time high (ATH) price of $342.88 on February 19th, it has been an arduous task to retest this level, as the market bear…

Grab Set to Go for IPO via Merger with Silicon Valley-Based SPAC

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Apart from raising more capital through a public offering, Grab is expected to raise extra capital from private investors. Southeast Asian ride-hailing giant Grab Holdings Inc, formerly MyTeksi, is set to go for an IPO through a merger with a Silicon Valley-based Special Purpose Acquisition Company (SPAC), affiliated to Altimeter Capital Management, LP. According to people familiar with the matter as reported by WSJ, the deal is expected to value Grab at $40 billion. Notably, the Special Purpose Acquisition Company (SPAC), which has been associated with Altimeter Capital Management, LP,…