Day: September 17, 2023

Binance.US exchange volume slumps amidst crisis

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Trading activity on Binance.US has reached new lows in September, as the crypto exchange faces unprecedented challenges. On Sep. 16, exchange volume stood at $5.09 million on Binance.US, as reported by Amberdata on The Tie Terminal.  The lowest point for the month was on Sep. 9, when trading activity totaled $2.97 million. This is a significant drop compared to Sep. 17, 2022, when its trading volume was around $230 million. Binance.US exchange volume over the past 12 months. Source: The Tie Terminal/Amberdata Binance.US is the offshoot in the United States of…

3 steps crypto investors can take to avoid hacks by the Lazarus Group

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Cryptocurrency users frequently fall prey to online hacks with Mark Cuban being just the latest high-profile example how nearly a million dollars can leave your digital wallet. It is possible to substantially bolster the security of your funds by heeding three simple guidelines that will be outlined in this article. But before delving into these, it’s crucial to understand the type of threat that exists today.  FBI has clear evidence on the Lazarus Group The Lazarus Group is a North Korean state-sponsored hacking group, known for their sophisticated attacks linked to…

Crypto Exchange Gemini Says Investment Giant DCG Is Using Misleading Assertions in Bankruptcy Plan

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Digital asset exchange Gemini says venture capital firm Digital Currency Group (DCG) is engaging in deceptive practices to avoid fulfilling its full obligations to the creditors of its crypto lending unit Genesis. In July, Gemini filed a lawsuit against DCG after Genesis went bankrupt while owing $735 million worth of assets to users of Gemini Earn, a program that enabled the exchange’s customers to lend their cryptocurrencies and earn interest. On September 13th, DCG  proposed an agreement offering unsecured creditors, including Gemini Earn users, to recover a significant portion of…

Bitcoin price holds $26K as MKR, AAVE, RUNE and RNDR flash bullish signals

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After forming successive Doji candlestick patterns on the weekly chart for the past three weeks, Bitcoin (BTC) is on target to end the week on a positive note. This is an early sign that the uncertainty between the bulls and the bears is resolving to the upside. Although the recovery is still in its early stages, the Federal Open Market Committee meeting on Sep. 20 could boost volatility. The majority of the market participants expect the Federal Reserve to maintain a status quo on rates but surprises could arise during…

FTX restores customer claims portal after cyber breach

Bankrupt crypto exchange FTX reinstated the functionality of its customer claims portal with enhanced security measures following a recent cyberattack on non-sensitive data. Customers can now resume submitting claims for assets held before the exchange declared insolvency in November 2022. FTX suffered a cyberattack that led to a temporary shutdown. The breach exposed non-sensitive data of claimants but did not impact account passwords or funds. The exchange confirmed on Sept. 16 that none of its important systems were affected by the breach. The reactivated portal allows creditors to continue submitting…

Richard Kiyosaki dubs fiat currency ‘criminal money,’ advocates for crypto

Robert Kiyosaki, the acclaimed author of ‘Rich Dad Poor Dad,’ recently shared his positive sentiments about cryptocurrencies as the future of money. Bitcoin, the author says, could reach $120,000 next year and warns of a potential economic crisis, urging investors to consider digital currencies as a haven. Kiyosaki predicts grim fate for fiat currencies Kiyosaki recently tweeted about his strong beliefs in the potential of cryptocurrencies, owing to the upcoming TOKEN2049 crypto conference set to take place from Sept. 18-19. He took to X (previously Twitter) to express his views,…

Crypto exchange volumes declined to $52b in August 

VanEck’s monthly crypto market recap reveals that trading volumes of centralized exchanges declined to $52.8 billion in August, representing a 15.5% decrease compared to July. Bitcoin (BTC) and Ethereum (ETH) faced a challenging month, recording 9% and 10% losses, respectively. VanEck: Crypto markets hit lows In August, as reported by VanEck, the trading volumes of digital assets hit a two-year low, coinciding with an all-time low in their volatility. According to the analysis, this decline was attributed to waning investor interest. The analysts attributed the declining investor interest to the…

Ethereum unveils new testnet called ‘Holešky’ 

Ethereum’s developers launched a new testnet that’s being touted as a promising alternative to the aging Goerli network. Dubbed “Holešky,” the testnet was designed to facilitate staking, infrastructure, and protocol development. Ethereum preps for future Ethereum, the blockchain powering the world’s second-largest crypto by market cap, is continually evolving to meet the demands of a rapidly growing blockchain ecosystem. To keep pace with the ambitious roadmap, Ethereum developers have introduced a new testnet called “Holešky.”  At the core of the Holešky testnet launch is its unprecedented initial supply of 1.6…

US lawmakers advance legislation blocking the digital dollar

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The United States House Financial Services Committee is moving forward with legislation aimed at preventing the issuance of a central bank digital currency.  According to an announcement from chairman Patrick McHenry, the Committee will mark up two bills about a potential digital dollar on Sep. 20. Markups are sessions in which lawmakers discuss the details of a bill. It is a crucial step before a legislation moves to the House floor. One of the bills is the Digital Dollar Pilot Prevention Act, or H.R. 3712, that prohibits the Federal Reserve…