“We operate in a rapidly evolving industry and our digital asset monitoring process is designed to be responsive to market and regulatory developments. When a digital asset no longer meets our high standards, or industry circumstances change, we conduct a more in-depth review of the affected asset and assess whether further action is necessary,” Binance.US said on its page announcing the delisting. Source
Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the Chinese yuan as an alternative to the USD. Roubini on U.S. Dollar and Chinese Yuan as Global Reserve Currencies Nouriel Roubini, aka Dr. Doom, discussed the future of the U.S. dollar as the world’s reserve currency in an interview with Indian media outlet CNBC TV-18, published Tuesday. Roubini is the chief economist…
ALSO: Crypto exchange Bitget’s $100 million fund targeting Web3 comes as Hong Kong eases crypto regulations and a number of East Asian countries have been promoting crypto. Source
The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York District Court filing signed on April 6 and made public on April 10, Nikhil Wahi — brother of former Coinbase product manager Ishan Wahi — will be required to begin making restitution payments while serving time in prison in what is believed to be the first insider trading case involving crypto. The amount must be paid in full within 20 years…
“We are very excited to partner with NextGen Digital Venture on launching the Fund, as we continue to strive for product innovation for our traditional finance clients. Grayscale is one of the largest digital asset fund managers in the world, and we are optimistic about the future growth of Grayscale powered by crypto adoption, said Adrian Wang, President of Metalpha Technology Holding, in a release. Source
Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigating the so-called “mutual backscratching arrangements” alleged to have taken place with the now-failed Silicon Valley Bank (SVB). On April 9, letters from Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez (AOC) were sent to Circle, BlockFi and 12 other non-crypto tech firms asking a series of questions on each firm’s relationship with SVB. The lawmakers stated that more needs to be known about SVB’s reported “coddling” and “white glove” treatment…
According to worldwide data from Google Trends, the search term “bitcoin” has reached a score of 93 out of 100 in the last seven days. Additionally, the price of bitcoin rose above the $30,000 range for the first time in ten months, or since June 2022. Bitcoin Search Interest Rises as Leading Crypto Asset Taps $30K On Tuesday, April 11, 2023, bitcoin’s price rose above the $30,000 mark for the first time since June 8, 2022. According to statistics from coinmarketcap.com, BTC’s dominance is currently over 47%, the highest it’s…
Decentralized finance (DeFi) is entering regulators’ crosshairs, but they don’t seem to be intent on taking it out – yet anyway. Instead a pair of reports from U.S. and French authorities seem more focused on understanding what sort of risks DeFi might pose to both users and the broader financial world, and whether there are ways to mitigate these risks while still allowing their operation. Source
The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest statistical data indicates. On a monthly basis, consumer prices decreased for a second consecutive month, despite estimates suggesting they will remain unchanged. Post Zero-Covid Policy Inflation in China Eases Further China’s annual inflation rate fell to 0.7% in March, from February’s 1.0%, according to official numbers released by the National Bureau of Statistics. That’s the lowest figure since September 2021, noted the Trading Economics website which…
Among other digital tokens, Solana’s SOL surged over 12% to trade around $23.2, while ETC, the token of Ethereum Classic, an offshoot, or fork, of Ethereum, gained over 4% to change hands at $21.6. The CoinDesk Market Index, which measures overall crypto market performance, was up 2.3% for the day. Source