Day: June 9, 2023

The shift from centralized exchanges to DEXs

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Centralized exchanges have been the dominant force on the cryptocurrency landscape for over a decade, acting as the primary method of transferring value between blockchains and serving as a gateway into crypto for the masses. They have been instrumental in the early development of the nascent crypto sector, with many reaping substantial profits. Binance’s revenue, for example, hit $12 billion in 2022, a ten-fold increase in just two years. However, the success of centralized exchanges has come at a cost. Not only has their dominance placed an unnecessary financial burden…

BTC Priced at Narrow Discount on Binance.US

Binance.US tweeted late Thursday that it would no longer accept dollar deposits and warned that its banking partners are preparing to pause fiat withdrawal channels as of June 13. The exchange urged clients to reclaim their dollars using bank transfers before then, and said it would begin delisting the dollar-denominated pairs starting next week. Source

Bitcoin liquidity impacted on Binance US amid SEC suit

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC’s recent lawsuit against Binance US heralds a grim phase for bitcoin liquidity. Amid a flurry of allegations, withdrawals, and an aggressive regulatory stance, we examine the tumultuous unfolding events and their far-reaching implications on the crypto market and investor sentiment. Sitting at the intersection of technology and finance, the crypto market is no stranger to stormy weather. Yet, the recent legal tempest stirred by the (SEC) against Binance US, a subsidiary of the worldwide…

Blockchain Pioneers Vitalik Buterin, Polygon Co-founder Commit $100M To Pandemic Research

Blockchain pioneers Vitalik Buterin of Ethereum fame and Polygon co-founder Sandeep Nailwal have joined forces with India-based crypto fund Crypto Relief in an extraordinary initiative aimed at combatting the devastating impact of COVID-19. In a remarkable display of solidarity and innovation, they have pledged to contribute a staggering $100 million towards critical areas such as COVID-19 research and the development of essential medical infrastructure.  This groundbreaking collaboration not only showcases the immense potential of blockchain technology but also highlights the profound commitment of these visionary leaders to making a tangible…

Crypto Miner Hut 8 (HUT) Says Repairs to Damaged Equipment at Alberta Site Are Taking Longer Than Expected

“Progress in bringing the equipment back online has been slower than expected given frequent curtailments and hardware failures due to power surges,” the Toronto-based company said on Friday. “As individual miner hashboards are repaired and re-installed, other hashboards are failing and require repair, which is impairing our hashrate and production.” Source

US House committee releases new stablecoin bill draft

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The United States House Financial Services Committee has released the third draft of the stablecoin bill presented by its chair, Representative Patrick McHenry. The latest draft of the bill is bipartisan and includes specific proposals from Republican and Democratic committee members.  The draft bill titled, The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem, was first proposed on June 8 and is expected to be discussed during the upcoming committee hearing on June 13. The bill’s latest version proposes the U.S. Federal Reserve as the key regulator…

Binance.US Halts USD Deposits, Blames SEC’s ‘Witch-hunt’ |

Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US. Binance.US has told its customers that they may not be able to buy crypto with their US dollars from June 13. The Thursday announcement follows after the Securities and Exchange Commission (SEC) filed a lawsuit against the exchange and its founder Changpeng Zhao (CZ) on Monday. SEC insists that Binance had violated the country’s securities laws. The exchange, on the other hand, says the regulator is only leveling “unjustified civil claims” against its business. The…

Kraken NFT exits beta, Coinbase ‘Stand with Crypto’ gains support, and more

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Kraken NFT marketplace exits its beta phase Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted that it has expanded its number of NFT collections. The platform noted that it went from supporting 70 collections to over 250. According to Kraken, it will continue adding even more collections into its marketplace.  We are launching out of BETA! #KrakenNFT is your gateway to buying, selling & learning about NFTs! Browse 250+ collections⛓️ Polygon blockchain IntegrationReddit Collectible…