Month: June 2023

South Korea Regulator Delays Binance Acquisition of Gopax Due to SEC Lawsuit 

While Binance saw the acquisition of Gopax as a means of re-entering South Korea, it was also meant to be a turning point for the local trading platform. The SEC’s lawsuit against Binance has started affecting the company’s operations, particularly its acquisition of Gopax in South Korea. The US Securities and Exchange Commission filed a case against Binance for violating securities law. According to the filing with the federal court in Washington, Binance mishandled investors and also misled both investors and regulators. The Commission also alleged that the exchange broke the rules…

Bitcoin evangelist Joe Hall tells The Agenda why he thinks BTC will conquer the world

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“Bitcoin has such a marketing problem.”  At least, that’s what came to mind for Bitcoin (BTC) advocate and Cointelegraph reporter Joe Hall when he was asked about the weaknesses and strengths of the popular cryptocurrency. While not labeling himself a “Bitcoin maximalist,” Hall believes that most people — including crypto OGs — are shockingly unaware of what Bitcoin can do; and for this reason, he questions the necessity and future of most altcoin projects. “They’re doing it with imperfect solutions that in the long term will rug-pull them or close…

Exploring the Increasing Interest in Cryptocurrency Mining Alternatives

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In the past, cryptocurrency mining has depended on the power-hungry Proof-of-Work (PoW) consensus process. Alternative mining techniques, on the other hand, that offer scalability, energy efficiency, and minimal environmental impact, have recently attracted more attention. Proof-of-Stake (PoS) and Proof-of-Authority (PoA) are two well-known alternatives that are gaining popularity. The potential for various mining options to disrupt the bitcoin ecosystem is examined in this article along with their distinctive features. Readers can get comprehension of the advantages and factors of PoS and PoA and learn more about the developing field of…

Economics of Bitcoin ATM market could hinder wider adoption

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As the digital asset market continues to evolve, the use of cryptocurrency ATMs grows with it. Over the past decade, nearly 40,000 cryptocurrency ATMs have popped up worldwide. Bitcoin (BTC) ATM service provider, Bitcoin of America, had carved out a slice of the market but recently closed shop in the United States State of Connecticut due to a lack of proper licensing. The Connecticut Department of Banking (DoB) issued a cease and desist order against the company, accusing it of operating unlicensed crypto ATMs in the state. But the allegations…

Sweat Economy to Launch Governance Vote to Decide Fate of 2B Tokens

The new governance requires at least 75,000 votes for the proposal to be either accepted or rejected. Sweat Economy, the label behind the Sweatcoin and Sweat Wallet apps, plans to roll out a new governance vote later today in the wallet app. By doing this, the Sweat community will be saddled with the responsibility of deciding what happens to the 2 billion Sweat tokens lying idle in inactive users’ accounts. Token holders can now participate in the decision-making process by the principle of one man, one vote, thereby democratizing the…

US court orders SEC to respond to Coinbase’s rulemaking petition

US court has directed the SEC to address Coinbase’s rulemaking petition within a week, as the crypto exchange seeks regulatory clarity for digital assets amidst an ongoing lawsuit and heightened enforcement actions against market participants. The US Court of Appeals for the Third Circuit has issued a significant order that compels the US Securities and Exchange Commission (SEC) to clarify its stance on a rulemaking petition submitted by leading cryptocurrency exchange Coinbase.  Coinbase had earlier filed a challenge under the administrative procedure act, seeking to prompt the SEC to respond…

HSBC CEO Promises Silicon Valley Bank UK Will Not Suspend Focus on Startups amid Expansion

HSBC CEO has doused fears that Silicon Valley Bank UK will suspend or not adequately focus plans on helping startups. The CEO of HSBC UK has said that Silicon Valley Bank UK will continue its regular business of serving startups regardless of new ownership. Ian Stuart noted that Silicon Valley Bank will maintain its processes and business without disruption. At the Money 20/20 fintech conference in Amsterdam, Stuart assured CNBC’s Arjun Kharpal of protecting Silicon Valley Bank. He said: “We are going to keep it ringfenced within our own ringfenced…

Former BitMEX CEO Arthur Hayes Remains Bullish on Bitcoin (BTC)

Bitcoin’s strong bounce back despite the SEC lawsuits has made analysts optimist about the beginning of the next bull run. After facing strong selling pressure earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) has given a strong bounceback today moving closer to $27,000. As of press time, BTC is trading 3.2% up at a price of $26,603 and a market cap of $515 billion. The recent bounce back has created optimism among Bitcoin enthusiasts with analysts turning bullish on the crypto once again. Former BitMEX CEO Arthur Hayes recently…