“The ongoing DOJ and SEC cases vs. Binance may have dissuaded market makers from trading on Binance, explaining parts of the decline,” K33 Research senior analyst Vetle Lunde said. “Some market making has probably leaked to other exchanges, but it’s still almost certain that Binance’s woes negatively impact market volumes,” he added. Original
Bankman-Fried’s dad, Joe Bankman, was paid a $200,000 salary by FTX’s U.S. division, according to the filing from FTX’s bankruptcy estate, which just sued the parents. But that wasn’t enough, he said, telling an FTX executive in a Jan. 12, 2022, message that he was supposed to get $1 million annually starting the previous month, according to the filing. Source
A Terra Classic community member with the X handle Rexyz has kicked against burning USTC tokens to enable the stablecoin to recover its dollar peg. According to the X post made on September 18, Rexyz outlines an alternative solution that may lead to USTC being re-valued $1 as well as push Terra Classic (LUNC) price to reach the $1 price mark. Since the collapse of the Terra ecosystem in 2022, the USTC stablecoin has lost its dollar peg and now trades at 98.8% below the $1 mark. Following this catastrophic…
History suggests that, slowly but surely, all layer 2s will migrate to the Ethereum, says EY’s Global Blockchain Leader. Source
Fintech innovations and emerging technologies have swept the world, causing global lawmakers to rush to understand and regulate them. While some countries like the United States and El Salvador have had a public relationship with adopting new technologies, others have quietly joined the game. Among these is Latvia, a small country located in the Baltics, neighboring Estonia and Lithuania. Cointelegraph spoke with Marine Krasovska, the head of financial technology at Latvijas Banka (Bank of Latvia) — Latvia’s central bank — to better understand how regulators in the country are dealing…
While all the predictions from influential figures and institutions mentioned in our article provide intriguing insights, it’s always crucial to approach them with caution. Bitcoin (BTC), the world’s largest cryptocurrency, has been on a bullish but rollercoaster ride since its inception in 2009. Over the years, it has gained popularity as both a cryptocurrency and a fast-growing investment asset. As we approach 2024, the crypto market is bound to continue evolving, and Bitcoin is tipped to stay at the vanguard of this evolution. In this article, we will look at…
Hong Kong is aiming to finalize stablecoin regulations by mid-2024, highlighting the territory’s contrasting approach to mainland China. Legislative Council member Duncan Chiu has signaled that Hong Kong is on track to finalize its stablecoin regulations by mid-2024. The announcement was made at the Shanghai Blockchain International Week, according to a local news outlet. Hong Kong potentially wants to establish the region as a web3 nexus, driven by regulations and diverging from China’s more restrictive stance on cryptocurrency. Regulatory roadmap for Hong Kong’s stablecoin regulation Chiu revealed that the legislative…
The delay is the latest in a string of disappointments for Bankman-Fried, who has failed to secure the end of his pre-trial detention since landing in prison in early August. His lawyers have argued their client can’t properly prepare his defense from jail. On the other hand, prosecutors argue he poses a threat to witnesses when out on bail – and the judge overseeing his case agreed. Source
A prominent Shiba Inu team member “Lucie” has shared insights on the highly anticipated Shiba Inu token burn through Shibarium, Shiba Inu’s Layer 2 blockchain, and has revealed what investors should do if they want the Shiba Inu token burns. Shiba Inu Team Member Tells Investors What To Do The content marketing specialist for Shiba Inu took to X on Monday, September 18, 2023, to address the Shiba Inu token burn questions coming from the community saying that SHIB burns are set per transaction, not based on tweets about burns.…
A three-judge panel from the United States Court of Appeals for the Second Circuit has reportedly taken arguments from lawyers representing former FTX CEO Sam Bankman-Fried (SBF) under advisement in considering releasing him from jail prior to his October trial. SBF’s defense team and the U.S. Attorney’s office were each given roughly five minutes to argue before a panel of judges on Sept. 19. One of the judges reportedly claimed SBF’s legal team’s First Amendment argument “has no play anymore” based on Bankman-Fried’s alleged attempts to intimidate witnesses including Caroline Ellison, the…