Day: March 29, 2023

Binance concealed ties to China for years, even after 2017 crypto crackdown: Report

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Binance CEO Changpeng “CZ” Zhao and other senior executives have been for years concealing the crypto exchange ties with China, according to documents obtained by the Financial Times. In a report on March 29, FT claims that Binance had substantial ties to China for several years, contrary to the company’s claims that it left the country after a 2017 ban on crypto, including an office still in use by the end of 2019 and a Chinese bank used to pay employees. “We no longer publish our office addresses . .…

Biggest Movers: XRP Gains Intensify, as Token Hits 11-Month High – Market Updates Bitcoin News

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Xrp climbed to its highest level since last May, as bullish sentiment returned to cryptocurrency markets. The token rose by as much as 17% in Wednesday’s session, with the global market cap over 5% higher. Cardano also rallied, rising by over 11%. XRP maintained its bull run on Wednesday, as prices rose by as much as 17% in today’s session. Following a fall to a low of $0.4866 on Tuesday, XRP/USD raced to an intraday high of $0.5804 earlier in today’s session. As a result of the move, XRP hit…

Crypto Prices Jump in Q1 Despite Weakened Asset Class Perceptions

Those two worlds, in other words, have decoupled. This quarter, the correlation between bitcoin (BTC) and the S&P 500 declined from 0.91 to 0.59, and got as low as 0.01 on March 22. (A correlation of 1 means the price of two things is moving in lockstep, while minus 1 means a perfectly inverse relationship. Zero means no link at all.) In other words, digital assets have behaved as the diversifying, uncorrelated asset that many investors crave. Source AssetClassCryptoJumpPerceptionsPricesWeakened CryptoX Portal

Latin American E-Commerce Giant Mercado Libre Expands Crypto Trading to Chile

“Entering the crypto business is another step to continue transforming and expanding access to financial services in Chile and Latin America,” said Matías Spagui, senior director of Mercado Pago in Chile. “Through this new service, we seek to give millions of Chileans access to the crypto world in an educational, secure and simple way, in order to generate greater financial inclusion.” Source

Web 3.0 Infrastructure Provider Wakweli Inks New Partnership with Polygon

Besides its basic offerings, Wakweli is also bound to offer other advanced utilities or use cases that can add extra value to all Polygon users who adopt its solution. Wakweli, a Web 3.0 infrastructure service provider has inked a strategic partnership with Polygon, an Ethereum-based layer-2 protocol. According to the partnership details as contained in a Press Release shared with Coinspeaker, Wakweli will extend its Non-Fungible Token (NFT) certification technology to Polygon for the benefit of all projects resident on the protocol. Wakweli is gaining momentum as an essential outfit…

Bitcoin mining stocks underwhelm in March, but brighter days could be around the corner

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Bitcoin mining stocks had a dull performance in March, with small moves here and there that followed BTC’s price movement. While it is encouraging to see that most stocks held onto their impressive January gains, Bitcoin’s price action will be crucial for the short-to-medium-term performance of these stocks. Additionally, the expansion of the public Bitcoin mining sector in the U.S. continues as American miners reported one of the biggest ASIC imports in January 2023. The delivery of new machines and an increase in the BTC price led to a surge…

SafeMoon LP Compromised | Blockchain News

SafeMoon, a cryptocurrency project that gained traction through endorsements by celebrities and social media influencers, recently announced that its liquidity pool (LP) had been compromised. While the company has not revealed any details about the attack, it confirmed that it is taking steps to address the issue as soon as possible. The incident is the latest in a series of attacks targeting cryptocurrency projects in recent months. Like many other crypto projects in 2021, SafeMoon was backed by numerous celebrities, including Nick Carter, Soulja Boy, Lil Yachty, and YouTubers Jake…

Financial Times Alleges Binance-China Link

Following the disclosure, there are questions concerning how compliant the exchange has been with regulations. The Financial Times has reported the possible existence of a Binance-China link. FT cited it was in the possession of some internal documents belonging to Binance.  FT noted that these documents contradict past claims by various Binance executives, including Changpeng Zhao. In one such claim, CZ hit back at critics who accused Binance of being state-sponsored. CZ noted that Binance had pulled the plug on its operations in China since 2017. Zhao also noted that…