Day: May 4, 2023

Mainstream media renew push for non-US FTX user identities

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Four media outlets in the United States have continued efforts to get the identities of non-U.S. FTX customers revealed, filing new objections to a previous motion to seal their identities.  Bloomberg, Dow Jones, The New York Times and The Financial Times first filed a motion objecting to FTX and the Official Committee of Unsecured Creditors being authorized to redact and withhold customer information on Jan 11. While the court previously had heard similar arguments by the four firms, the May 3 filing made a new objection to the Committee’s motion…

Meme coin craze highest in US, India, study reveals

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A CoinGecko study shows that meme coins continue to take hold in several countries across the world, with the United States, India, and the United Kingdom leading the charge. Data suggests the top 10 countries driving the craze and accounting for 82.9% of the interest, proving their appeal and popularity across diverse regions and economic development. Meme coins are gaining significant traction in 2023, and the United States and India are leading the charge. Meme coins…

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet – Bitcoin News

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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase CTO Settles $1 Million Bet on Bitcoin Ahead of Time Balaji Srinivasan, the ex-chief tech officer of U.S. crypto exchange Coinbase, has closed his million-dollar Bitcoin bet with the pseudonymous Twitter pundit James Medlock. On…

CEX trading volumes decline in April after months of growth: Kaiko

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Centralized crypto exchanges have seen a dip in trading volumes in April for the first time in three months as digital assets cool off from a hot first quarter.  According to blockchain data provider Kaiko, trading volumes on centralized exchanges have fallen back following three consecutive months of gains. April’s volumes were almost half of those in March at roughly $500 billion, according to the data. The month has been the lowest so far this year in terms of volumes with March being the highest. The data provider noted that…

French senate advances legislation allowing social media influencers to advertise cryptocurrency

The Committee on Economic Affairs in the French Senate has approved an amendment to pending legislation that will permit registered cryptocurrency companies to enlist social media influencers for promotional and advertising purposes. The new wording would enable France’s Financial Markets Authority (AMF) to authorize companies to employ influencers for their products. Some standards will remain in place In March 2023, 102 victims filed a lawsuit against a pair of French social media influencers for intentionally causing them to lose money through crypto trading. The proposal was then put forward in…

US regional bank shares sink despite Fed calling banking system ‘sound’

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Share prices of several United States regional banks tanked in after-hours trading Wednesday, despite Federal Reserve Chairman Jerome Powell calling the banking sector “sound” and “resilient” just hours before. One such regional bank, PacWest Bancorp, fell a whopping 52.5% in after-hours trading after Bloomberg reported that the bank would explore strategic options on May 4. It has been seen by some as another bank to potentially fall amid a U.S. banking crisis.  The bank is reportedly considering a sale or capital raising, Bloomberg said, citing people familiar with the matter.…

Coinbase to cease issuing new Bitcoin-backed loans via Borrow service

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Crypto exchange Coinbase is stopping the issuance of new loans through its Borrow service, a product that allowed certain United States customers to post crypto as collateral to receive a cash loan. In an email sent to Coinbase Borrow customers on May 3 that was shared by recipients on Twitter, the exchange said — without providing a reason — that from May 10, customers wouldn’t be able to take out new loans using Coinbase Borrow. It added that there would be no impact on outstanding loans, and customers did not…

$22M of Curve Finance algo stablecoin minted since mainnet launch

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Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic U.S. dollar-pegged stablecoin, dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours, with $20 million of that amount minted within the first 5 minutes. Screenshot of crvUSD transaction data. Source: Etherscan The deployment of crvUSD on the Ethereum network is a significant step towards the public release…

Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’ – Economics Bitcoin News

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U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed. Looming Economic ‘Mega-Crisis’ Robert F. Kennedy Jr., who launched his presidential campaign last month, issued several warnings this week about the state of the U.S. economy, the banking crisis, and President Joe Biden’s cryptocurrency mining…

AX1 Releases Research on Binance Key Project

PRESS RELEASE. AX1 company recently conducted research on the Trust Wallet, a popular cryptocurrency wallet that has gained a significant following in recent years. The research aimed to understand the level of security and trustworthiness of the wallet, and to identify any potential vulnerabilities or weaknesses that could be exploited by malicious actors. The findings of the research were largely positive, with the Trust Wallet receiving high marks for its security features and overall reliability. The wallet was found to use strong encryption and multi-factor authentication to protect user data…