Day: October 17, 2023

Binance US asks users to convert USD into stablecoins for withdrawals

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Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in the U.S. dollar are no longer supported on the platform. Binance.US updated its terms of service on Oct. 16, significantly modifying the section about the “BAM Fiat Wallet,” referring to Binance US services related to USD custody. In the updated terms, Binance.US wrote that users “may convert” their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts. Some cryptocurrency enthusiasts took to X (formerly Twitter) to confirm the…

Russian telecoms giant MTS announces ads service targeting Telegram users

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Russia’s largest telecommunications firm, MTS, claims it will launch an advertising service targeting Russian Telegram users, but the social messaging application denies it has any agreements in place. The company made the announcement on Oct. 17, outlining the launch of advertising services for clients targeting the audience of specific channels, categories, interests and geolocation. MTS explicitly states that the service targets phone numbers of Russian operators. Telegram spokesperson Remi Vaughn told Cointelegraph that the company hasn’t entered into any ad-related agreements with any Russia-based companies, including MTS: “They may be…

$28,000 Could Hold The Key For Massive Bull Run

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The Bitcoin price experienced volatility in the last day following speculation about approving a spot BTC Exchange Traded Fund (ETF) in the US. The rumors turned out false, but the cryptocurrency managed to reclaim a critical level. As of this writing, Bitcoin trades at $28,460 with a 3% profit in the last 24 hours. Over the previous week, the cryptocurrency recorded similar gains while other cryptocurrencies in the top 10 by market cap lagged the sudden rally except for Solana (SOL). BTC’s price is moving sideways on the daily chart.…

Web3 File Management App Fileverse Gets $1.5M Investment From Gnosis Chain, Balaji Srinivasan, Other Investors

Privacy-focused Gnosis Chain and venture capital firm Factor led the investment, according to a press release shared by the firm. Crypto wallet provider Safe, social media privacy solution Mask Network, decentralized file storage Arweave Ecosystem and its ecosystem incubator Forward Research, Web3 credentials network Galxe, ex-Coinbase Balaji Srinivasan and other angel investors also participated in the round. Source

The Sam Bankman-Fried Trial Is Revealing Crypto’s Amateur-Hour Ways

Paradigm, BlockFi, Genesis and other companies did not have access to audited financial statements prior to investing or loaning billions to FTX, FTX.US. and Alameda Research, according to testimonies given in the trial of Sam Bankman-Fried. Rather, these investors and lenders looked at unaudited financial statements and spoke with the executives at these companies to determine critical pieces of information like FTX’s cash flow, its liabilities, its current assets and net asset value. Source AmateurHourBankmanFriedCryptosrevealingSamTrialWays CryptoX Portal

How African Students Became Victims of FTX’s Collapse

With exchanges like Binance still running ambassadorships in African countries, students have become increasingly skeptical of the programs, following their experiences with FTX. “You cannot find Binance doing campus programs in US universities and campuses, but they know Africa is a place where you can do things, speak to some regulators, and get as many users as you want.” “People are no longer thinking about working for a big exchange anymore, they’re looking at how insured is this, and how much of my reputation am I putting on the line,”…

BlackRock Reacts To False Bitcoin Spot ETF Approval News In A Positive Way

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Investment management firm Blackrock has reacted to rumors about the approval of its Bitcoin Spot ETF application by the United States Securities and Exchange Commission (SEC) which caused quite a stir among the cryptocurrency community. Blackrock CEO Responds To Claims On Bitcoin Spot ETF On Monday, crypto news outlet CoinTelegraph posted on X (formerly Twitter) that the US Security and Exchange Commission (SEC) had approved a long-anticipated application of Bitcoin Spot ETF, but later retracted the report. However, the post sparked excitement within the crypto community causing the Bitcoin price…