Just recently, the 45th President of the United States, Donald Trump, has expressed a neutral stance towards bitcoin, stating he could live with it “one way or the other.” Meanwhile, Trump’s holdings in crypto assets have seen a significant increase in value. A substantial portion of his digital wealth is currently in a digital currency […] Source
Bitcoin (BTC) flew off centralized exchanges this week at its highest level since June 2023, according to the crypto analytics firm IntoTheBlock. In a new analysis, Lucas Outumuro, IntoTheBlock’s head of research, tracked the top crypto asset’s netflows, which measure the Bitcoin moving in and out of centralized crypto exchanges by subtracting the amount of BTC’s withdrawals from its deposits. Outumuro notes that $540 million worth of Bitcoin netflows left centralized crypto exchanges this week, the largest weekly net outflow total in eight months. IntoTheBlock interprets the movement of BTC…
Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto exchange’s decision to block or remove traders quoting USDT to naira exchange rates exceeding NGN1,802. Binance says it has the right to remove “users behaving in a malicious or manipulative way.” The Nigerian Currency’s Woes Some Nigerian users of Binance’s peer-to-peer (P2P) platform have […] Source
Top global crypto exchange Binance has rolled out trading support for the new Ethereum (ETH) layer-2 scaling project Starknet (STRK). Starknet kicked off its first token allocation on Tuesday. The project plans to distribute more than 700 million Starknet tokens to nearly 1.3 million addresses. Eligible individuals and groups will have four months to claim their tokens, and unclaimed STRK will be distributed in future rounds. Binance attached a seed tag to STRK. The exchange applies seed tags to lower-liquidity tokens that have more volatility potential, and users who own…
The People Power Party, a major political party in South Korea, has proposed to defer cryptocurrency taxation for up to two years as part of a general election pledge. The Korean government has already postponed establishing cryptocurrency taxation until 2025 when income generated from cryptocurrencies will be taxed at 22%. South Korea to Delay Cryptocurrency […] Source
Bitget, a top 15 cryptocurrency exchange, is seeking to expand its operations in Latin America, a market traditionally dominated by incumbents like Binance and Bitso. Maximiliano Hinz, Bitget’s growth director for Latam, believes that the exchange can differentiate by focusing on serving beginner investors with tools like its copy-trading feature. Bitget Aims to Gain Traction […] Source
US government prosecutors are reportedly urging a federal judge to accept crypto exchange Binance’s plea deal. In November 2023, the top global crypto exchange was hit with a $4.3 billion fine by the U.S. Department of Justice (DOJ) to settle a multi-year investigation. Changpeng Zhao, Binance’s controversial chief executive, said he would plead guilty to violating US anti-money laundering laws and step down as CEO. A sentencing memo filed to a federal court in Seattle last week indicates that prosecutors want the case’s judge to accept the plea deal, according to…
Creditors of bankrupt crypto exchange FTX have filed a class-action lawsuit against a global law firm providing legal counsel to the former digital asset empire. In a new court filing submitted on February 16th, FTX creditors allege Sullivan and Cromwell (S&C) engaged in civil conspiracy, aiding and abetting fraud, aiding and abetting fiduciary breach and violation of federal laws against racketeering. The New York City-based law firm is overseeing the FTX bankruptcy proceedings and assisted the exchange in several deals, including the acquisition of the crypto derivatives platform LedgerX. The…
Fixedfloat, an automatic cryptocurrency exchange, has been hacked by an unknown attacker who siphoned almost $26 million worth of BTC and ETH. The exchange, which has already acknowledged the attack, is investigating the event and working to eliminate all possible vulnerabilities. Meanwhile, Fixedfloat’s platform remains closed until further notice. Fixedfloat Loses $26 Million in ETH […] Source
The digital bank Revolut is developing a new cryptocurrency trading platform designed for seasoned crypto traders, according to an e-mail sent to customers this week. The new platform will offer more advanced trading features like deeper market analytics and lower trading fees than Revolut’s existing crypto services. etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now! In fact, Revolut aims to offer a fully independent crypto exchange in addition to standard digital asset services. The question is, however, whether…