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Itโs been two weeks since the shock of the TerraUSD (UST) depegging, but the long waves of this event are still coming in. The Congressional Research Service described the UST crash as a โrun-likeโ scenario and claimed that the crypto industry has not reached the same level of โadequate regulatingโ as the traditional finance market.ย Michael Barr, former advisory board member of Ripple Labs and United States President Joe Bidenโs pick for a vice chair for supervision at the Federal Reserve, definitely agrees with that. During the confirmation hearing, he…
Americaโs largest crypto exchange Coinbase has added the BNB Chain (formerly Binance Smart Chain) and Avalanche to the Coinbase Walletโs list of supported networks where users can swap and store cryptocurrencies. The May 24 blog post from the exchange boasts that the added functionality will provide access to โthousands of tokensโ which constitute a โgreater variety than most traditional centralized exchanges can offer.โ One Wallet. Even more networks. Thousands of tokens. Now supporting token swaps on @avalancheavax and @BNBCHAIN on Coinbase Wallet. Learn more -> https://t.co/ZdEg1T8s53 pic.twitter.com/prWhSlPYl8 โ Coinbase Wallet…
Crypto derivatives exchange and NFT platform FTX is reportedly in the market for brokerage start-ups as part of its recently announced plans to expand support to stock trading. The firm announced last Thursday that its U.S.-based subsidiary FTX.US will be launching zero-commission stock trading via its app, and will allow users to fund their accounts with fiat-backed stablecoins. According to a May 23 report from CNBC โ who cited sources that โasked not to be named because the deal talks were confidentialโ โ the firm has held private meetings with…
Several crypto firms, including Binance and Circle, have launched a new crypto scam reporting platform. The tool โempowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it.โ New Crypto Scam Reporting Platform Launched A number of crypto firms have joined forces and launched a new, multi-chain scam reporting platform. TRM Labs, Circle, Solana Foundation, the Aave Companies, Hedera, Binance.us, and Civic announced last week โthe launch of a new community-powered scam reporting platform, Chainabuse.โ The platform, operated by blockchain intelligence…
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Ethereum failed to clear the $2,085 resistance and declined against the US Dollar. ETH must stay above $1,920 to start a fresh increase in the near term. Ethereum failed to clear the $2,085 and $2,100 resistance levels. The price is now trading below $2,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down towards the main $1,920 support zone. Ethereum Price…
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Indiaโs central bank, the Reserve Bank of India (RBI), has warned about investing in the crypto market following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). โWe have been cautioning against crypto and look at what has happened to the crypto market now,โ said Governor Shaktikanta Das. RBIโs Governor on Crypto Market and Regulation The governor of the Reserve Bank of India (RBI), Shaktikanta Das, discussed the crypto market downturn and the regulation of crypto assets in an interview with CNBC TV18 Monday. โWe have been cautioning against…
Bitcoin failed again to clear the $30,600 resistance zone against the US Dollar. BTC is declining, but the bulls might remain active near $28,500. Bitcoin failed to gain strength for a move above the $30,600 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was break below a major bullish trend line with support near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down towards the main $28,700 support…