Day: December 24, 2022

Binance Addresses Mazars Saga, USDC Withdrawal Halt and Other ‘FUD’ Amid Heightened Crypto Exchange Scrutiny

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Binance is addressing the fear, uncertainty and doubt (FUD) centered around crypto exchange platforms after the high-profile downfall of FTX. In a new company blog post, the world’s largest digital asset exchange by volume explains why some of the common narratives about it being financially unhealthy are untrue. First, Binance addresses the rumor that it does not have sufficient reserves for users to be able to withdraw coins. “Binance’s business model is very simple. The platform makes profits mainly by charging transaction fees. The company’s assets are completely separated from…

BITCOIN: INSANE NEWS…..

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Wow! When is Bitcoin finally bottoming out? When is the next Bitcoin bull market finally starting? Well today we will talk about … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Where in the World Is Ex-Alameda CEO Sam Trabucco? – Bitcoin News

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Following FTX co-founder Sam Bankman-Fried’s arrest and the statements from his co-workers Gary Wang and Caroline Ellison, the spotlight has turned on the remaining executives who were part of the team’s inner circle. Another person people are curious about these days is Alameda Research’s ex-co-CEO Sam Trabucco. The 30-year-old executive left Alameda in Aug. 2022, but since Ellison detailed misconduct happened in 2019, it’s assumed that Trabucco knows a thing or two about what happened. Spotlights Remain on a Few More FTX and Alameda Execs Like Sam Trabucco Since Sam…

Crypto billionaires lost $116M since March: Report

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The bear market and the wave of bankruptcies in the crypto industry drained $116 billion from the pockets of founders and investors in the past nine months, according to recent estimates by Forbes.  The loss represents the combined personal equity of 17 people in the space, with over 15 losing more than half of their fortunes since March. As a result, 10 names were removed from the crypto billionaires list. One of the major losses was attributed to Binance CEO Changpeng “CZ” Zhao. In March, his 70% stake in the…

Past, Present, Future With Blofin

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2022 is coming to an end, and our staff at NewsBTC decided to launch this Crypto Holiday Special to provide some perspective on the crypto industry. We will be talking with multiple guesses to understand this year’s highs and lows for crypto. In the spirit of Charles Dicken’s classic, “A Christmas Carol,” we’ll look into crypto from different angles, look at its possible trajectory for 2023 and find common ground amongst these different views of an industry that might support the future of finances.  We kicked us this special with…

Privacy Coins Take a Beating This Year Losing Over $6 Billion, Anonymity Takes a Back Seat to Defi, NFTs – Altcoins Bitcoin News

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The last 12 months have been tough on digital currency investors as the crypto winter has caused a large sum of value to leave the once-bustling economy. The privacy coin economy, for instance, shed more than 55% against the U.S. dollar as it dropped from $11.7 billion in Jan. 2022 to the current $5.22 billion. Privacy Economy Loses 55% Against the Greenback, European Union Looks to Ban Anonymizing Cryptos Privacy coins are not talked about like they used to be. These days, the hype and discussions surrounding decentralized finance (defi)…

Blockware sued over alleged misrepresentation of miners’ performance

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London-based Faes & Company filed a complaint against crypto mining firm Blockware Solutions LLC on Dec. 17, claiming it misrepresented the performance capability of its miners and lacked adequate power access to keep the machines running.  Plaintiffs allege losses of $250,000 and are seeking compensatory and punitive damages. According to the complaint, the parties entered into contracts in October 2021 for Faes to buy $525,000 worth of Bitcoin miners and related hosting services. As part of the agreement, Blockware would host Faes’ miners at one of its server facilities, which…