Month: April 2023

DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday – Market Updates Bitcoin News

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Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. The suit claims that Musk operated a pyramid scheme, following his endorsements of dogecoin. Litecoin was another token to climb on Saturday. Dogecoin (DOGE) Dogecoin (DOGE) climbed higher on Saturday after lawyers for Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. In a statement, Musk’s lawyers said, “There is nothing unlawful about tweeting…

Latest court battle could alter crypto landscape in US

Regulatory trouble is nothing new for Binance, and on many occasions, in the past, it has managed to overcome or bypass such roadblocks and eventually work with regulators.  However, when it comes to the United States, the exchange has found itself in the cross-hairs of multiple agencies. A number of United States financial regulators have ongoing investigations against the crypto exchange. Some of these investigations date back to 2018, and now, one of the primary derivatives market regulators in the U.S. has filed a lawsuit in conjunction with its investigation…

Bitcoin Halving 2024 Is Just 1 Year Away and This Is Not April Fool’s Day Joke

The digital currency received a significant boost entering this year and despite the tough regulatory crackdowns and Fear, Uncertainty, and Doubt (FUD) that gripped the industry, the price of the cryptocurrency remained resilient.  The most significant event in the history of the Bitcoin (BTC) blockchain – the Halving event – is now slated for April 2024, implying that it is exactly a year away. While the timeline for this event is often known beforehand, the fact that April is here has increased the seriousness of the tracking of the halving…

Do algorithmic stablecoins have a future as centralized coins are under scrutiny?

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Binance’s native stablecoin — Binance USD (BUSD) — was the third-largest stablecoin pegged to the United States dollar, minted by blockchain infrastructure platform, the Paxos Trust Company, through a transfer of technology agreement between the two firms.  However, on Feb. 13, the New York Department of Financial Services ordered Paxos to stop minting any new BUSD tokens. The move came just days after the United States Securities and Exchange Commission issued a Wells notice alleging BUSD violates securities laws. Binance CEO Changpeng Zhao even predicted that regulatory clampdowns would force…

Dogecoin Rises Amidst Lawsuit Against Elon Musk Over Cryptocurrency Tweets

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Elon Musk, the CEO of Tesla Inc, has requested a US judge dismiss a $258 billion lawsuit against him by Dogecoin (DOGE) investors. The lawsuit accuses Musk of running a pyramid scheme to support the popular cryptocurrency, Dogecoin. In a court filing on Friday, Musk’s lawyers referred to the lawsuit as a “fanciful work of fantancy.” They argued that the investors had failed to provide any evidence of fraud or explain how Musk intended to defraud anyone. They further added that Musk’s tweets about Dogecoin were innocent and silly and…

BTC Nears $29,000 to Start April, as ETH Also Rebounds – Markets and Prices Bitcoin News

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Bitcoin was back in the green on Saturday, as prices moved close to the $29,000 level to start the weekend. Following a volatile session on Friday, cryptocurrency markets were mostly higher entering April. Ethereum moved back above the $1,800 level. Bitcoin Bitcoin (BTC) rose towards $29,000 on Saturday, as markets continued to react to yesterday’s personal consumption expenditure (PCE) figures in the United States. PCE climbed to 0.3% in March, less than the 0.4% markets were expecting, showing that inflation was slowing. BTC/USD rose to an intraday high of $28,802.46…

Worldcoin integrates Proof of Personhood to counter fake news created by AI

Worldcoin, in a recent announcement, said it is adopting Proof of Personhood to help advance its systems for better services. With the introduction of methods that may enhance fairness, social interaction, and trust, Worldcoin’s implementation of Proof of Personhood (PoP) is a significant advance with the potential to revolutionize the online realm.  Worldcoin is creating a decentralized system to verify identities without compromising users’ privacy. PoP solves two significant problems caused by artificial intelligence (AI) advancements: restricting the number of accounts a user may establish and stopping the widespread spread of fake…

Justin Sun rumored to be selling his Huobi Exchange shares

Sources have it that Justin Sun, the inventor of Tron, is in talks to sell some of his holdings in Huobi Global, a crypto exchange. Last year, Justin Sun paid $1b for the crypto exchange after Hong Kong-based investment company About Capital, managed by Leon Li, the exchange’s creator and primary shareholder bought it out. Justin Sun disputes selling his Huobi Global stock According to a source with intimate knowledge of the situation who spoke with Bloomberg, Justin Sun has talked with possible investors about selling a stake in Huobi Global. A Huobi…

More than 3600 Bitcoin ATMs went offline to record largest monthly decline

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Contradicting the growing global Bitcoin (BTC) adoption rate, physical ATMs dedicated to fiat-crypto conversions are on the decline. In March alone, 3,627 crypto ATMs were removed from the network, bringing down the total ATMs to 33,727. In nearly a decade since the first Bitcoin ATM was launched on Oct. 29, 2013, the net change of cryptocurrency machines installed and removed monthly remained positive most times — implying that total crypto ATMs worldwide were steadily increasing. However, the trend is reversing, reveals Coin ATM Radar data. Net change of cryptocurrency machines…