Month: September 2023

Paysafe ending support for Binance’s EU customers, some face early restrictions

Amid a backdrop of increasing regulatory scrutiny, Binance’s European payments provider, Paysafe, has started restricting euro withdrawals for some users ahead of its planned cessation of support on Sept. 25. This move that has left many European customers of Binance puzzled and frustrated, with some users finding themselves unable to access their accounts well before the specified end date. Ervin Ursic Kovac, a Binance customer, told CryptoX that he had “sent some ether (ETH) to his account on Sept. 12 and sold it for euros, but was unable to withdraw…

DeFi protocol Balancer frontend is under attack, $238K crypto stolen

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Balancer, an Ethereum-based decentralized finance protocol has confirmed its user interface is currently “under an attack.” The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users to not interact with Balancer’s protocol until further notice. The balancer frontend is under an attack. The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice! — Balancer (@Balancer) September 19, 2023 Balancer said the details of the attack are under investigation. The firm hasn’t confirmed whether user funds are safe at this…

US voters across 4 swing states oppose anti-crypto pres candidates: Coinbase

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Crypto exchange Coinbase says it will focus its “Stand with Crypto” campaign on nine states in the U.S., including four “swing states” with voters polled as less likely to choose anti-crypto presidential candidates. The four “swing states” include New Hampshire, Nevada, Ohio, and Pennsylvania, which are just some of the states the crypto exchange is set to focus its “Stand with Crypto” campaign, it said in a Sept. 19 blog. “Polling in the fall of 2022 showed that in the key states of NH, NV, OH, and PA, over half…

Hodlnaut Refuses OPNX’s $30 Million Offer After FLEX Token Declines By 90%

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According to the latest report, the interim judicial managers of beleaguered crypto lender Hodlnaut have rejected the latest acquisition bid proposed by OPNX. The OPNX exchange, affiliated with the founders of collapsed hedge fund Three Arrows Capital (3AC), offered to buy a significant 75% ownership stake in troubled Hodlnaut in August 2023. Holdnaut, a Singapore-based crypto lender, was another of the numerous victims of the financial crisis that rocked the crypto space in 2022. The crypto company had to halt withdrawals after losing around $190 million to the Terra ecosystem’s…

Philippines SEC teams up with US counterpart to combat crypto fraud

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The Philippines Securities and Exchange Commission (SEC) has teamed up with its United States counterpart, as well as the Asian Development Bank to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes. According to a Sept. 15 press release, the three institutions conducted an International Organization of Securities Commissions (IOSCO) Investigation and Enforcement Training workshop last month, in a bid to upskill their combined fraud and scam prevention toolkit when it came to crypto-related crimes. The Securities and Exchange Commission (SEC) Philippines collaborating with international organizations…

Animoca CEO invites Ethereum’s creator to Hong Kong

Yat Siu, founder of Animoca Brands, offered to fly Vitalik Buterin to Hong Kong and act as his tour guide to help navigate the city-state’s crypto regulatory landscape after Buterin shared doubts about long-lasting policies. Animoca’s chief executive dispelled claims that the relationship with Beijing could hamper regulatory stability and disrupt crypto-friendly policies in the near future. Siu stressed that Hong Kong operates a free market and serves as a cornerstone in China’s approach to emerging technology like web3. Despite everything that one may be reading in the media, Hong…

This New Development Could Stop The Optimism (OP) Price Dead In Its Tracks

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Optimism (OP) looks to be on a good recovery path so far in the month of September. This is thanks to the increasing positive user sentiment around the Ethereum Layer 2 network. However, the most recent development on the network could pose a threat to this recovery trend. Optimism Announces Third Airdrop After completing two rounds of airdrops already this year, the Optimism network has moved on to its third airdrop. This time around, the network is looking to reward loyal Optimism users who have delegated their OP to be…

How Bitcoin miners can survive a hostile market — and the 2024 halving

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Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of new coins by 50%. Bitcoin’s halving is a high-profile event for crypto investors, and has historically led to an increase in Bitcoin’s price. However, its impact on the mining industry is a more complex issue. It reduces block rewards,  one of the primary revenue streams for miners. The 2024 halving will reduce it from 6.25 BTC to 3.125 BTC. That’s why miners…

Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report

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The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange’s bankruptcy estate for allegedly misappropriating funds. According to a new article from the Financial Times, Joseph Bankman and Barbara Fried are being sued by the FTX estate over allegedly siphoning funds from the now-bankrupt exchange. Says prosecutors, “As early as 2018, Bankman described Alameda as a ‘family business’ — a phrase he repeatedly used to refer to the FTX Group.” However, Bankman and Fried’s lawyers say the allegation is “a dangerous attempt to intimidate…

Stellar To Release Protocol 20 Testnet Upgrade, Will XLM Rally?

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On September 20, Stellar, a blockchain platform designed to facilitate fast and low-cost cross-border transactions using its native currency, XLM, will release the testnet upgrade of Protocol 20. With this launch, the protocol prepares for the eventual mainnet activation of the Soroban smart contracts platform. Stellar Prepares For Protocol 20 And Smart Contracts According to a document on September 18, the testnet upgrade aims to release candidate versions of Stellar Core and Horizon. Stellar is a blockchain network and relies on a network of nodes for transaction validation and to ensure the…