Day: August 27, 2023

Binance under scrutiny, increased enforcement amid growing scams, Pepe’s drama

This week, Binance takes the spotlight amid allegations of market manipulation and sanction violations. Meanwhile, regulators ramp up enforcement actions against a backdrop of crypto-related crimes — the latest involving Pepe Coin. Binance’s SEPA concerns Binance emerged as a focal point of attention this week, owing to a sequence of circumstances.  The official Twitter support of the exchange alluded to a momentary cessation in EUR transfers, indicating the temporary suspension of SEPA transfers, without specifying a definite timeline for reinstatement. Despite the lack of explicit reasons, Binance’s efforts to keep…

Ronaldinho fails to testify in crypto scam probe, faces possible arrest in Brazil

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Brazilian soccer star Ronaldinho Gaúcho could be detained by authorities to testify over a crypto fraud investigation in Brazil. According to local media reports, Ronaldinho failed to appear before the country’s Congress over a pyramid scheme probe allegedly linked to one of his companies. The former Paris Saint-Germain, F.C Barcelona and AC Milan star failed to testify at a congressional hearing on Aug. 24, citing adverse weather conditions, and ignoring a subpoena for the second time. According to congressman Aureo Ribeiro, he will have another opportunity to testify on Aug.…

Bitcoin’s most faithful are staying put despite the crypto market’s recent weakness

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Even after a big correction, which followed weeks of almost complete inactivity, and a new focus on real rates, bitcoin’s most patient investors are still holding onto their coins. The cryptocurrency closed at $25,972.52 on Friday and lost 0.25% for the week – its eight negative week in the past nine, according to Coin Metrics. It had posted an 11% decline for the previous week. Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m. ET stock market close one Friday to the next.…

Western Union Embraces Ripple Blockchain And XRP Token For Enhanced Money Transactions

Global money transfer powerhouse Western Union is boldly venturing into the dynamic and rapidly evolving realm of cryptocurrencies, marking a significant and strategic move in its financial landscape. With a storied history of facilitating seamless cross-border transactions, Western Union’s decision to enter the highly-stacked cryptocurrency arena underscores its commitment to innovation and adaptability in an ever-changing financial ecosystem. This strategic move was unveiled by CEO Hikmet Ersek during an analyst conference call, where he revealed Western Union’s active exploration of integrating Ripple’s blockchain technology and its native digital asset, XRP.…

investors pick Borroe over Maker and THORChain

The crypto market can present opportunities for discerning investors. At the moment, investors are looking at Maker (MKR), THORChain (RUNE), and Borroe (ROE), considering their growth potential. ROE is the newest of the three tokens, and analysts maintain a bullish preview of this project.  This article digs deeper, exploring why. Maker’s revenues soar to a 2-year high MakerDAO’s rising network activity has pushed its revenue to $165 million, a 2-year high. The increase follows the surge of DAI deposits, which currently stand at 5.5 billion DAI, a near 4-fold increase.…

Worldcoin 50% Crash Caused By Mounting Data Privacy Paranoia

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The Worldcoin cryptocurrency project, led by Sam Altman, the brains behind ChatGPT, is facing increased scrutiny from regulators worldwide. The project’s use of eye-ball scanning orbs for user enrollment has raised concerns about potential violations of data protection laws. The unique method of collecting biometric data without clear consent has prompted discussions on legality and ethics. Regulatory bodies are closely examining the project’s compliance with privacy regulations, highlighting the challenges of balancing innovation with legal and ethical standards. The value of biometric investments made through Worldcoin’s crypto-based “free money” promise…

FTX suspends user accounts amid Kroll cyber breach concerns

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Following the recent Kroll cybersecurity breach, FTX Derivatives Exchange, a financially distressed cryptocurrency trading company, has opted to temporarily suspend accounts of impacted users accessing its claims portal. FTX’s decision which was posted on X (formerly known as Twitter) was undertaken as a proactive measure aimed at preventing the occurrence of any potential future incidents or additional harm following the recent hack. The exchange is dedicated to offering more comprehensive information in the subsequent stages. In response to Kroll’s cybersecurity incident, FTX has taken the precautionary measure of temporarily freezing…

Crypto community reacts to Biden’s proposed crypto tax reporting rules

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Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden.  On Aug. 25, in an effort to catch crypto users avoiding taxes, the Internal Revenue Services (IRS) proposed brokers follow new rules for selling and trading digital assets. Brokers would use a new form to make tax filing easier and prevent cheating on taxes. The Treasury indicated that the proposed rules would make digital asset reporting similar to reporting on other kinds of assets. However, many in the crypto…

TON Notches Above 9% In The Last Week, How Far It Can Climb?

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In the rapidly evolving world of cryptocurrencies, Toncoin (TON) has recently emerged as a focal point of discussion due to its notable price surge of over 8% within the past week. This increase has ignited renewed interest in cryptocurrency and sparked inquiries regarding the coin’s potential for sustained growth in the foreseeable future. At the time of writing, Toncoin (TON) boasts an impressive price of $1.46, securing its position as the 14th largest cryptocurrency by market capitalization, around $5 billion USD. Toncoin Technical Analysis Taking a technical perspective, Toncoin’s price…

Tether CTO stays silent on Bitcoin mining locations

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Paolo Ardoino, chief technology officer of stablecoin issuer Tether (USDT), recently found himself addressing rumors about images of large industrial containers online. These speculations led him to rejecting questions about where Tether is mining Bitcoin (BTC).  In a post on X (formerly known as Twitter) published on Aug. 26, Ardoino shed light on the curiosity sparked by the photo he shared on Aug. 24. The image displayed a container with a photoshopped Tether Energy logo, leaving many people pondering over what it’s all about.  One of #Tether energy production and #Bitcoin mining sites…