Day: May 31, 2023

Trading volumes on CEXs and DEXs surge amid market downtrend

Centralized exchanges (CEXs) and decentralized exchanges (DEXs) have observed a tremendous surge in their respective trading volumes in the past 24 hours. This trend suggests a renewal of investor interest despite a generally bearish market. Per data from price-tracking resource CoinMarketCap, the top 8 centralized exchanges have all witnessed a remarkable rise in their 24-hour trade volume, with Coinbase, America’s largest exchange and the second-largest exchange globally, registering the biggest percentage gain within the time frame. Notably, Coinbase’s volume in the past 24 hours currently stands at $1.142 billion, representing…

Former Coinbase Manager and His Brother Convicted for Crypto Insider Trading

The SEC noted that Wahi and Nikhil purchased at least 25 crypto assets from Coinbase before listings, out of which nine were securities. The United States Securities and Exchange Commission (SEC) counted another win in regulating the nascent crypto industry through a Coinbase Global Inc (NASDAQ: COIN) insider trading case. According to a press release from the SEC on May 30, former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi plead guilty to conspiracy to commit wire fraud. As a result, Wahi was sentenced to two years in…

Global Stock Market Shows Differing Growth Strides as Inflation Fears Remain

Of the key markets in the Asia Pacific region, only the South Korean Kosdaq saw a slight uptick. The global stock market is experiencing differing growth moves as key inflation markers in many regions remain positive. In Hong Kong, the Hang Seng Index (INDEXHANGSENG: HSI) is down by 2.22% after shedding a massive 411 points to be pegged at 18,183.80. While the Hang Seng Index is merely trailing all the other Asian stock indices, it officially entered a bear zone with its current performance. In what appears to be a…

Former SEC chief warns influencers about prosecution for crypto price manipulation

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The United States Securities and Exchange Commission (SEC) is pursuing crypto influencers who have promoted scam projects and are found to be manipulating the prices of certain tokens via social media. Former SEC chief John Reed Stark took to Twitter to warn crypto influencers to be ready to face prosecution. Attention all crypto promoters who use social media to manipulate the price of crypto-securities: Fail not at your peril. Not only will you eventually get caught, but your prosecution will also be like shooting fish in a barrel. Whether manipulating…

Bitcoin Cash Advocate Roger Ver Hails Ethereum as the Future of Cryptocurrency Adoption

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In a recent Show Me The Crypto appearance, renowned Bitcoin Cash advocate and early Bitcoin investor Roger Ver expressed his admiration for Ethereum, asserting that it will play a pivotal role in driving worldwide cryptocurrency adoption. Ver’s endorsement of Ethereum aligns with the sentiments shared by the hosts of the YouTube show, particularly regarding the Ethereum ecosystem’s innovations, such as non-fungible tokens (NFTs). Acknowledging that Ethereum does not currently possess the largest market capitalization compared to Bitcoin, Ver emphasized that Ethereum is the front-runner in spearheading the global adoption of…

Security firm exposes $500m vulnerability in TRON’s multisig accounts

Security researchers have recently disclosed a critical zero-day vulnerability in the TRON blockchain that could potentially expose $500 million worth of cryptocurrency to theft. The vulnerability, discovered by the 0d research team at dWallet labs, specifically targeted multisig accounts on the TRON blockchain. 0d, our superstar cybersecurity research team, discovered a vulnerability in TRON multisig accounts putting over $500M of digital assets at risk – it was disclosed and fixed so there are no user assets at risk now. A technical breakdown:https://t.co/nMj6kV6Oc3 — dWallet Labs (@dWalletLabs) May 30, 2023 Multisig…

CNHC stablecoin issuer detained by Chinese police: Report

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The Chinese government continues to crack down on the cryptocurrency industry with a new investigation targeting a major Chinese yuan stablecoin issuer. Employees of Trust Reserve — the issuer of the Chinese yuan-pegged stablecoin CNH Coin (CNHC) — have been detained by Chinese police, the local blockchain publication PANews reported on May 31. According to the report, Trust Reserve employees have been out of reach since the afternoon of May 29 due to multiple arrests. Some employees’ family members have reportedly been notified about the detentions. PANews also learned that…

Bitcoin risks ‘new lows’ into monthly close as BTC price retests $27K

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Bitcoin (BTC) tested $27,000 on May 31 as weakness prevailed into the monthly close. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Analyst: Bitcoin reaching “crucial area” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued to lose momentum after local highs near $28,500. As early-week excitement faded, traders and analysts warned that now was a make or break point for the short-term trend. “Crucial area approaching here for Bitcoin and dipped into it,” Michaël van de Poppe, founder and CEO of trading firm Eight, summarized. “If…

Data suggests bull run for bitcoin despite the price decline

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) has been moving in uncertainties as the exchange reserves started declining in the first week of May. New data, however, suggests that a bull run might be on the way for the digital gold. According to data from the on-chain analysis platform CryptoQuant, the value of exchange reserves in bitcoin has fallen by roughly $7 billion over the past month. “At least the amount of Bitcoin circulating on exchanges has decreased in the past…

How to avoid impulse buying and save money instead

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Impulsive purchases can hurt a person’s finances by causing unneeded expenses and depleting reserves. However, by using budgeting applications, people can successfully avoid making impulse purchases and save money instead. This article will look at how budgeting applications can help users control impulsive spending and reach their financial objectives. Understanding impulse buying Unplanned purchases made without taking the long-term effects into account are referred to as impulse purchases. It frequently happens as a result of emotional triggers, enticing marketing strategies or a lack of self-control, as explained below: Emotional triggers:…