Day: August 26, 2023

AI-driven innovation will fuel more stable crypto markets

AI-powered solutions for crypto markets will become more stable as they mitigate slippage and uncertainty, achieving deeper liquidity access and efficient predictive analysis. Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. During the G20 Summit in February, the International Monetary Fund (IMF)  considered ‘banning private cryptocurrencies’ an option to solve the global debt restructuring crisis. It has now realized this won’t help solve associated problems. The U.S. Security and Exchange Commission (SEC), though, seems hell-bent…

PEPE Price Spikes 10% Following Community Address On Rumored Rug Pull

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The value of PEPE, one of the most promising assets in the second quarter of 2023, has been faltering in recent weeks. According to CoinGecko data, the meme coin has been in a 33.6% price decline in the last 14 days. The PEPE price took a significant hit in the past week, tumbling by more than 20% in a matter of hours. This negative price action was triggered by the rumors of a rug pull orchestrated by the project deployers.  On Thursday, August 24, about $16 million worth of Pepe…

HashKey to debut Bitcoin and Ethereum retail trading in Hong Kong

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto exchange HashKey Group is set to debut Bitcoin (BTC) and Ethereum (ETH) trading services for its Hong Kong customers on Aug. 28. In an interview with local media, HashKey chief operating officer Weng Xiaoqi announced that its exchange business will start offering retail trading services for crypto. The firm had applied for a license in July and received approval earlier this month. According to Weng, HashKey chose to start with BTC and ETH since they…

Binance suspends P2P transactions with sanctioned Russian banks

Last year, crypto exchange Binance claimed that it no longer allowed customers to pay each other through sanctioned Russian banks. In reality, that wasn’t the case. The company’s crypto exchange’s peer-to-peer (P2P) service no longer recommends five blacklisted Russian financial institutions as a way to send and receive rubles. But the decision only came after the Wall Street Journal reported this week that Binance was helping Russians shift money out of the country. Binance has stopped offering clients the option to pay one another through sanctioned Russian banks, days after…

PEPE Whale Exits After Making Over 54,000x Gain And $1.73 Million In Profit

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One of PEPE’s early adopters is officially out after making over $1.7 million in profit, translating to a 54,725x gain in less than six months. In a tweet shared by Lookonchain on August 26, the meme coin trader bought 1.69 trillion tokens, spending roughly $36, minutes after the project was launched in late April 2023. However, by the time the trader exited, less than six months later, selling off all his tokens, he had realized a decent gain, raking in 1,001 ETH, or roughly $1.7 million at spot rates. PEPE…

Sam Bankman-Fried’s life in jail, Tornado Cash’s turmoil, $3B BTC..

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Top Stories This Week Tornado Cash co-founders charged with money laundering, sanctions violations United States officials pressed charges against the co-founders of crypto mixer Tornado Cash on Aug. 23. Roman Storm and Roman Semenov were both charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business. Storm was arrested and released on bail a few days later, while Semenov was added to the U.S. list of Specially Designated Nationals and Blocked Persons. Combined, the charges carry a maximum sentence of…

JPMorgan forecasts limited downside for crypto markets: Report

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The cryptocurrency market’s recent downtrend appears to be coming to an end, as JPMorgan’s latest research suggests that most long-position liquidations have been completed. According to a Bloomberg report, analysts for the American bank estimate that the liquidations are “largely behind us.” The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME) indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends.…

Massive Pepe coin theft sparks allegations of insider trading

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Deflationary meme currency Pepe Coin is embroiled in a web of controversy surrounding a significant token theft and accusations of insider trading. As the Pepe Coin saga unfolds, an on-chain analyst known as Yazan alleges that individuals with privileged access have commenced the liquidation of their PEPE holdings, with a substantial volume of approximately 400 billion PEPE tokens already divested.  Update: The number is now up to 665 billion $PEPE and the wallet selling still has…

Shibarium Launch Proves Positive As Shiba Inu-Based BONE Celebrates New Milestone

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Following its temporary shutdown, Shibarium has made a comeback and relaunched. This release of the layer 2 blockchain has pushed the BONE price upwards, recording new milestones for the token.  Shibarium Relaunch Ignites Bullish Trend For BONE Bone Shibaswap (BONE) has recorded a massive price increase of about 17% in the last 24 hours after Shibarium made an official relaunch and became open to the public on Thursday, August 24. The number of BONE addresses has also increased to 90,151 while SHIB burn rates are running high. Currently, the BONE…

Will US Treasury proposals kill defi? Critics blast new crypto bill

The US Treasury Department recently revealed a proposal outlining new tax rules for the cryptocurrency industry. Among the updates is the introduction of a 1099 form for crypto transactions. The new guidelines also clarify tax obligations for digital asset miners.  The proposed bill appears to exempt miners while potentially impacting cryptocurrency exchanges, causing backlash from the industry, especially decentralized finance (defi) professionals. A tailored tax form The proposed regulations come as a response to the 2021 Infrastructure Investment and Jobs Act, aiming to clarify tax reporting requirements for the rapidly…