Month: July 2024

Binance Secures Approval To Invest US Customer Fiat Funds In US T-Bills, BNB Price Surges

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Binance has received court approval allowing it to invest customer fiat funds into US Treasury Bills (T-Bills) after a year of heightened scrutiny of Binance’s operations in the United States. The decision has resulted in a notable price recovery for the exchange’s native token, Binance Coin (BNB), pushing it toward the $600 level.  Court Grants Relief To Binance BAM Subsidiary A court filing reveals that BAM Trading Services and BAM Management US Holdings, collectively known as BAM, filed a motion seeking relief from a consent order. The court, upon consideration…

Philippine Central Bank Warns of AI-Driven Crypto Scams — Governor Denies Endorsing Cryptocurrency Projects

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The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has cautioned the public against scams involving AI-manipulated videos and audios, which are used to spread false information, particularly about cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the purported cryptocurrency project “Tesler Code” or any other […] Source

Messari’s pro-Trump CEO Ryan Selkis steps down after controversial tweets — here’s what happened

How Ryan Selkis’s tweets escalated from personal grievances to staunch political statements to, ultimately his exit Ryan Selkis, the founder and now ex-CEO of Messari, has abruptly resigned following a torrent of incendiary and controversial tweets that rocked the crypto community. Announcing his decision on July 19, Selkis cited his desire to focus on crypto policy and national issues, stepping down after days of intense public backlash. Selkis’s sudden exit leaves Messari at a crossroads, with Chief Revenue Officer Eric Turner stepping in as interim CEO. Known for his sharp…

Did the global IT outage affect crypto?

While the facts surrounding this global IT outage are still being determined, one thing is clear: centralization can have serious consequences. On June 19, the world was rocked by an extensive and unprecedented outage — with countless Windows computers rendered useless by the dreaded “blue screen of death.” The disruption proved widespread, with businesses and consumers in India, Germany, Australia, Spain, the U.K., and the U.S. just some of those affected. Something super weird happening right now: just been called by several totally different media outlets in the last few…

Can Burns Send The Shiba Inu And LUNC Price To $0.01? Expert Chimes In

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The Shiba Inu (SHIB) and Terra Classic (LUNC) ecosystems have become known for their regular token burns, which aim to increase the value of these coins. A computer engineer has given his opinion on this burn mechanism, revealing between Shiba Inu and LUNC, which will likely reach their desired goal of $0.01.  Will Shiba Inu And LUNC Reach $0.01? Computer engineer Charu Bey suggested in an X (formerly Twitter) post that only LUNC will likely reach its desired goal of $0.01 through its burn mechanism. He stated that the $0.01…

KPMG Establishes Strategic Alliance With Cryptio

KPMG LLP, the U.S. audit, tax, and advisory firm, has announced a strategic alliance with Cryptio, a crypto accounting software platform. This collaboration aims to help companies establish controls for better accounting of crypto assets, meeting US GAAP accounting and reporting obligations. The alliance will empower enterprises and institutions to navigate the complexities of the […] Source CryptoX Portal

Coinbase Analysts Warn: Bitcoin’s Upward Trend Could Hit a Wall — Here’s Why

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As Bitcoin is experiencing an uptrend in price increasing by 12.6% in the past week to trade above $66,000, analysts at Coinbase in a Friday report have disclosed potential limitations to its upward trajectory due to “increasing sell orders” on the exchange. According to the report, the recent appreciation in Bitcoin’s value has tempted many traders to capitalize by selling, which could curb further gains. A Wall Ahead, What Happens To Bitcoin Then? This report, which analyzes the market’s overall picture, was compiled by Coinbase researchers David Duong and David…

Bitcoin eyes $67k amid CrowdStrike outage debacle 

While traditional systems raced to resolve the CrowdStrike outage, Bitcoin and the cryptocurrency market climbed upward. Decentralized technology once again made a case for itself on Friday as a global IT outage disrupted banks, media, travel, and a litany of everyday operations.  Web3 markets boomed as Web2 activity slowed to a crawl in some parts of the world, with over 150 million people reportedly affected. Pro-crypto U.S. Senator Cynthia Lummis leveraged the situation to remind the public of Bitcoin’s (BTC) ability to run seamlessly and bypass centralized points of failure.  Do…

MATIC Targets $0.5030 As Bearish Pressure Halts Recent Uptrend

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Recent trading activities have caused the price of MATIC to slide, targeting the $0.5030 mark, following a period of strong upward momentum disrupted by bearish pressure. This sudden drop, driven by increasing bearish sentiment in the market, has sparked speculation among traders and investors about whether the $0.5030 support level will hold or if further declines are imminent. As the bearish sentiment around MATIC continues to build, this article seeks to analyze its current price movements and the technical indicators that suggest a sustained decline. The goal is to provide…