Day: August 5, 2023

Coinbase will remain in US despite regulatory uncertainty

Coinbase CEO Brian Armstrong has affirmed their commitment to remain in the US, dismissing any notion of departure.  Earlier, Armstrong had raised concerns about the uncertain crypto regulatory landscape in the country and hinted at the possibility of relocating Coinbase overseas if circumstances warranted such a move. In an interview, Armstrong emphasized that Coinbase had no intention of departing and underlined the immense significance of the US market for the exchange.  He reiterated its dedication to adhering to US regulations. Despite acknowledging the region’s potential as a robust crypto market, Armstrong…

Binance Celebrates Significant Milestone After Six Years In Operation

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Binance, the world’s largest crypto exchange by trading volume, has achieved another significant milestone. The firm, which recently turned six, keeps racking up several achievements despite the FUD that has surrounded it in recent times.  A Worthy Feat For Binance The world’s largest crypto exchange by daily trading volume has recently disclosed that its registered users now stand at a whopping 150 million. This was revealed in a tweet by its CEO, Changpeng “CZ” Zhao, on Thursday.  In the tweet, CZ noted his company’s milestone amidst growing regulatory scrutiny of…

Judge dismisses Tether, Bitfinex class action lawsuit

Tether, the company that issues USDT, has announced that a court in New York has dismissed a class action lawsuit that was filed against them and Bitfinex. The order was issued by US District Court Judge Laura Talyor Swain in response to the lawsuit brought by Matthew Anderson and Shawn Dolifika.  Paolo Ardoino, the CTO of Tether and Bitfinex, also confirmed the news on X, formerly Twitter.  It’s a good Friday.#Tether and @Bitfinex Win Comprehensive Legal Victory as U.S. District Court Dismisses Class Action Lawsuit The Court correctly held that plaintiffs’ complaint…

Tether dominant among stablecoins, USDT holders exploring Borroe

Tether (USDT) is a stablecoin that has gained popularity in the cryptocurrency market due to its stability and flexibility. It is pegged to the US dollar, ensuring its value remains constant despite market fluctuations.  USDT is widely used for transactions within the crypto ecosystem, and its popularity has led to an increase in investors exploring upcoming projects like Borroe. This trend indicates a positive sentiment in the market. More USDT holders exploring Borroe and ROE There has been a recent increase in interest among investors in Borroe’s native token, ROE, with…

Velvet Capital joins Cointelegraph Accelerator

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Gone are the days when decentralized finance (DeFi) was a niche for crypto frontrunners, while centralized finance (CeFi) was the absolute owner of users’ trust. Following the collapse of major centralized organizations within the industry, such as FTX, Prime Trust, and Celsius, among others, the user base — from traders to asset managers — realized the importance of self-custody and started looking for advanced services within the DeFi space. Backed by Binance Labs, Velvet Capital offers an infrastructure for digital asset management to be done fully on-chain and eliminates/minimizes the…

US DoJ wants former FTX boss, Sam Bankman-Fried, to be detained

The United States Department of Justice (DoJ) has asked for Sam Bankman-Fried, the former CEO of FTX, a now-defunct exchange, to be detained. The request was made in a letter addressed to Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York. Bankman-Fried is being charged with witness tampering and the unauthorized release of Ellison’s private writings to the New York Times, which allegedly harmed her reputation. The DoJ strongly disagrees with the defense’s argument that removing Bankman-Fried’s bail would infringe on his right to…

These Are The Factors That Could Lead To Another Bitcoin Rally: ARK Invest

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In a report released on August 4, ARK Invest’s on-chain researcher David Puell reveals factors that could lead to another Bitcoin rally. The report, titled “The Bitcoin Monthly: July 2023,” provides an in-depth analysis and distinguishes between Bitcoin’s current situation and what the future holds for the largest cryptocurrency by market cap. Some Positives For Bitcoin Puell highlights how Bitcoin’s tepid 90-day volatility shares similarities with 2017 levels. According to the report, this prolonged low volatility usually represents the ‘calm before the storm,’ with Puell speculating that a significant price…

CDC report underscores importance of Judge’s verdict in Ripple case

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The Chamber of Digital Commerce (CDC), an American advocacy organization, on August 1, unveiled a comprehensive “impact and analysis” report on the SEC’s lawsuit against Ripple. The report scrutinizes the case’s verdict, highlighting its profound implications for the crypto industry’s future. According to the CDC’s evaluation, Judge Analisa Torres’s ruling sets a vital precedent in digital currency. It distinguishes between an investment contract and the underlying asset, representing a groundbreaking development in crypto regulation. The report examines Judge Torres’s categorization of Ripple’s XRP token distributions into three classes: institutional sales,…

Elon Musk debunks scam token claims

Elon Musk has stated that his social media platform X (formerly Twitter) has no plans to launch crypto tokens in response to a post regarding questionable X and Twitter-based digital currencies on Saturday, Aug. 5. In response to a post by DogeDesigner, Musk addressed the issue of scam tokens like X (X) and TwitterDAO (TWITTER) falsely claiming connections to the social media platform. DogeDesigner had cautioned the crypto community about being cautious with articles related to scam tokens and clarified that neither Musk nor X had ever launched a crypto…