Day: March 6, 2023

Central Bank Orders Financial Institutions to Ration Dollars – Africa Bitcoin News

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Growing shortages of foreign exchange on the interbank market have reportedly forced the Central Bank of Kenya to ask financial institutions to ration dollar purchases by Kenyan businesses. The shortages have forced Kenyan firms to seek greenbacks on alternative markets where the exchange rate is higher than the official government rate. New Limits Curtailing Operations of Kenyan Firms Kenya’s ongoing foreign exchange shortages have reportedly forced the Central Bank of Kenya (CBK) to instruct financial institutions to impose caps on the amount of forex that businesses and individuals can purchase.…

Binance Tried to Hire Gary Gensler as an Adviser Back in 2018

Recent reports also suggest that the operations of Binance.com and Binance.US are intertwined. This would mean that regulators might exert greater scrutiny in this case. On Sunday, March 5, Wall Street Journal published a report sharing some exclusive details regarding Binance‘s operations and its involvement with regulators. In its report, WSJ mentions that crypto giant Binance wanted to hire Gary Gensler as an adviser, years before he became the chief of the US Securities and Exchange Commission (SEC). The publication reported that Binance was making active efforts to bring Gary…

Bitcoin price surge expected as long-term holders rise

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The largest cryptocurrency by market capitalization, bitcoin (BTC), witnessed a notable drop as news of Silvergate’s shares surfaced. Its price plunged by over $1,000 in just 30 mins on March 3. On March 4, Silvergate Capital Corp announced the discontinuation of Silvergate Exchange Network (SEN) as its stocks dropped by roughly 59% last week. According to the on-chain intelligence and analytics platform Santiment, Sivergate’s announcement might have been a leading cause of bitcoin’s price plunge. “As the largest cryptocurrency by market capitalization, bitcoin remains susceptible to further decline, particularly if…

Binance Partners with Local Authorities for Anti-Scam Campaign

Binance Exchange, the world’s largest digital currency marketplace by trading platform has announced the launch of its Joint Anti-Scam Campaign. Tagged as the next innovation in its bid to protect its customers, the trading firm said the initiative is starting in Hong Kong, a region known for its acceptance of crypto innovations. In its announcement, Binance highlights how crypto scams have evolved over the years. The exchange noted that while its systems are largely impenetrable based on its advanced security, users are more prone to losing their hard-earned assets owing to…

How are crypto launchpads revolutionizing the DeFi industry?

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There is a tripartite dynamic in the Web3 ecosystem that encompasses the investor, the project and the community. But what does each player get for being on the launchpad?  The most important benefit for the startup listing on a launchpad is the capital it gets from investors and community members of the launchpad. Retail investors who visit the launchpad will have the ability to look at Web3 projects listed, understand the team behind the projects along with the type of community the project has nurtured, and can invest their capital…

Crypto Exchange Bybit Suspends USD Deposits

Bybit’s move comes a month after Binance, the world’s largest digital assets exchange by trading volume, halted dollar transfers and amid a crisis at Silverage, a California-based lender famous for offering traditional banking services to crypto firms, including exchanges. Last week, Bybit said it’s evaluating “its ability to continue as a going concern” and delayed filing its annual report with the Securities and Exchange Commission. Source BitcoinBybitCryptocryptoexchangeDepositsExchangeExchangesSuspendsUSD CryptoX Portal

CoinEx Introduces Strategic Trading to Help Users Set out Sound Investment Plans and Stay Ahead – Press release Bitcoin News

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press release PRESS RELEASE. In traditional financial markets, the term trading strategy describes a comprehensive plan covering all trading activities, guiding investors to execute their target trades. In the world of crypto, a trading strategy refers to a predetermined plan or trading behavior designed to help investors profit from buying or selling cryptos in both long and short markets. Although not necessary for all types of crypto trading, a sound trading strategy can help investors mitigate potential risks. During extreme market conditions, an effective trading strategy enables crypto users to…

NFT Creators Investigated in Israel for Alleged Tax Evasion – Taxes Bitcoin News

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Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority is investigating two NFT creators in Jerusalem who did not report millions of U.S. dollars in revenue received from the sale of their digital works. The tokens they offered were based on a 3D scan…