Day: November 25, 2023

Binance onboarded millions into finance but forgot the paperwork — Columbia professor

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Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is seen in traditional finance. “People who sincerely believe that crypto is some unique enabler of bad people doing bad things don’t understand how the rest of the financial system actually works,” Malekan wrote on X (formerly Twitter), adding that companies that follow Anti-Money Laundering best practices…

XRP Price Coulds Repeat Legendary 61,000% Surge Like 2017, Analyst Claims

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Prominent crypto analyst CryptoInsightUK has given his thoughts on whether or not the XRP price can replicate the notable 61,000% gain it enjoyed back in 2017. Although the analyst sounded uncertain about how things could pan out, he provided insight as to what the future holds for XRP. XRP Price Repeating 61,000% Move Will Be Harder In a post on his X (formerly Twitter) platform, CryptoInsightUK highlighted how XRP exploded in 2017. The crypto token is said to have seen a 61,000% gain in 280 days. As to whether a…

Bitcoin could rally to $100,000 and beyond, expert predicts

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Dan Tapiero, CEO of growth equity fund 1RoundTable Partners, expects Bitcoin (BTC) to surpass $100,000. That’s a conservative estimate, the analyst adds, suggesting the flagship cryptocurrency has the potential for even greater gains within the next five years. Tapiero, known for his macro insights and fund management prowess, recently shared a cautiously optimistic outlook on Bitcoin’s future value. A surge to $100,000 would signify a remarkable 160% gain from the current levels. “My target for when I first started looking at this deeply in 2019 was always around $250,000 to…

Nigerian police arrest politician linked to crypto hack

Nigerian authorities arrested Amb. Wilfred Bonse, a Nigerian politician, for alleged theft and money laundering in connection to a breach suffered by cryptocurrency trading company Patricia Technologies Ltd.  According to ACP Olumuyiwa Adejobi, a public relations officer with the Nigerian Police Force (NPF), the arrest was made following the force’s investigation into Patricia’s hack.  As stated by Adejobi, Bonse allegedly assisted in laundering 50 million naira ($62,368) out of 607 million naira ($757,151) fraudulently diverted from the platform to his account via a crypto wallet.  Before his arrest, Bonse contested…

Hodler’s Digest, Nov. 19-25 – Cointelegraph Magazine

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Top Stories This Week US officials announce $4.3B settlement with Binance, plea deal with CZ Binance and its co-founder, Changpeng “CZ” Zhao, have reached a settlement over criminal and civil cases with the United States Department of Justice. CZ will plead guilty to one felony charge as part of the negotiated agreement. Attorney General Merrick Garland announced the settlement, claiming Binance’s policies allowed criminals involved in illicit activities to move “stolen funds” through the exchange. As part of the settlement, CZ announced on X (formerly Twitter) that he had stepped…

PYTH down 12% days after Backpack airdrop, per CoinGecko

PYTH, the native token of the decentralized finance oracle Pyth Network, is down 12% in the last 24 hours. According to data from cryptocurrency price aggregator CoinGecko, PYTH is currently changing hands at $0.477896, which is 12% lower than its level from the previous day. Additionally, the current price is nearly 13% lower than its all-time high of $0.548655 attained on Nov. 24 but more than 70% higher than its all-time low level from Nov. 21. PYTH price chart | Source: CoinGecko The token, barely a week old, started life…

Bitcoin Spot ETF Will Bring $70 Billion In New Money

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Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally.  Bitcoin Spot ETF Set To Ignite New Inflows Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin…

Axie Infinity unveils NFT monetization solution, merchandise

Axie Infinity (AXS), the widely-played blockchain game and metaverse project, has unveiled a novel initiative, allowing its non-fungible token (NFT) owners the commercial rights to produce and sell authorized merchandise. This announcement coincides with Sky Mavis, the game’s developer, launching a dedicated merch store for the Axie Infinity intellectual property. According to Sky Mavis, owners of specific Axie NFTs will now have the opportunity to create and sell their products, marking a significant step into user-generated content (UGC) and commercialization. A select group of 4,877 Axie NFT holders, possessing Mystic…

South Korea to pilot CBDC with 100k citizens in late 2024

As per the Bank of Korea, citizens will only be able to use digital won to buy selected goods. South Korea is gearing up to launch its first pilot of a central bank digital currency (CBDC) with 100,000 citizens in late 2024, the South China Morning Post reports. The pilot, which is a joint effort of the Bank of Korea, Financial Services Commission and Financial Supervisory Service, will allow selected citizens to buy goods with digital won for three months. However, participants of the pilot won’t be able to use…

The Choice You Will Eventually Face With Cryptocurrency

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This week, Binance kingpin CZ capitulated to US authorities. He and his exchange, Binance, will pay over $4 billion to the US government for facilitating money laundering and sanctions evasion. CZ may go to jail. Binance will continue operating under the US government’s watch. No collapse. No implosion. All funds are SAFU! Time will tell what this means for crypto prices. One step closer to Wall Street’s dream scenario: “safe, regulated” crypto that they can sell to mainstream investors (for a small fee). For us, we know better than to…