Month: June 2023

Bitcoin, Ethereum to shake off ‘toothless adversary’ SEC as FOMC looms

Bitcoin (BTC) and Ether (ETH) are due volatility — but not thanks to “toothless” United States regulators, new analysis says. In its latest market update on June 9, trading firm QCP Capital told market participants to gear up for macro-fueled price action for BTC and ETH. Related: Why is Bitcoin price stuck? QCP Capital: U.S. crypto “mudslinging” to continue The dust is continuing to settle on this week’s main macro stories — lawsuits against exchanges Binance and Coinbase from the U.S. Securities and Exchange Commission (SEC). More upheaval will come in…

Louis Vuitton’s Soulbound Luxury NFTs, Apple’s Expensive Vision and More Web3 News

C’est bon, Louis Vuitton: French luxury fashion house Louis Vuitton will soon release a new collection of physical-backed NFTs called Via Treasure Trunks, which will be linked to exclusive experiences and products down the line. Consumers based in the U.S., Canada, France, the U.K., Germany, Japan and Australia can register to obtain the exclusive treasure trunks, which will be made available to select customers on June 16. Each NFT will be priced at €39,000 including tax or $39,000 without tax in the U.S. Source

Crypto.com suspends US institutional exchange service

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Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service from June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move which has been exacerbated by testing prevailing market conditions. A statement from Crypto.com noted that the platform’s institutional users were given advance notice of the decision to suspend the service. Crypto.com’s retail mobile application and platform remains fully operational in the U.S. Related: Crypto​.com scores fresh regulatory approval in France American retail users…

South Korean Crypto Founder Do Kwon Accused of Moving Millions in Cryptocurrency Before Collapse

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South Korean crypto entrepreneur Do Kwon, the founder of Terraform Labs, is facing allegations that he moved crypto assets worth millions following his arrest in March this year.  According to a South Korean prosecutor, Kwon allegedly transferred approximately $29 million in digital coins from an entity linked to his blockchain project before its collapse last year. The funds were believed to have been moved personally by Kwon or at his request. Kwon, who had disappeared after the Terra/Luna ecosystem failed in May 2022, was apprehended while attempting to leave Montenegro…

Kevin O’Leary won’t rule out criminal charges for Binance

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Kevin O’Leary said the Securities and Exchange Commission levied some “serious” allegations in the 136-page charging document the agency issued against Binance on June 5, telling Cointelegraph in an interview that he believes founder and CEO Changpeng Zhao is in a “tough” spot. O’Leary, a venture capitalist and CNBC personality known more colorfully as “Mr. Wonderful,” was an investor in crypto exchange FTX prior to its November collapse, and has been open about losing $15 million from his gig as a paid spokesman for the company. Some observers attribute FTX’s…

How to use credit cards wisely to avoid debt

Credit cards may be excellent financial instruments if used responsibly. However, many individuals fall into the trap of collecting excessive debt due to careless credit card usage. This article will cover numerous tactics and best practices to help you use credit cards sensibly, avoid debt and maintain a healthy financial lifestyle. Understanding credit cards  Credit cards operate as a revolving line of credit, allowing users to make purchases up to a predetermined credit limit. However, failure to comprehend the foundations of credit cards can lead to financial issues. It’s crucial…

crypto needs to ‘double down’ on community support

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The crypto industry faced more scrutiny from regulators in the United States this past week, as the U.S. Securities and Exchange Commission (SEC) served both Coinbase and Binance.US with lawsuits regarding their operations.  Amid the accusations from regulatory officials, the members of the crypto community have spoken out against the behavior of the SEC while still agreeing certain regulations are necessary. Rachel Conlan, joined Binance as the new VP of Marketing this week and spoke with Cointelegraph about the importance of fostering community in what she calls a “critical juncture…