Category: CryptoX News

Why did Binance ditch Ordinals — and will the market survive?

Data shows Binance’s NFT marketplace wasn’t really a popular destination for Ordinals anyway — with traders now fixated on Runes instead. Binance’s decision to scrap support for Ordinals in April raised eyebrows among Bitcoin enthusiasts. The embattled exchange, which has been fighting legal battles on multiple fronts in recent months, said the move was designed to “streamline” its product offering. It went on to warn anyone who holds Bitcoin NFTs to move them somewhere else so they could continue to be eligible for airdrops. This marks quite a sudden U-turn…

Coin Center Warns of DOJ Overreach in Tornado Cash, Samourai Wallet Cases

The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ […] Source CryptoX Portal

US Lawmaker Slams SEC’s Investigation of Ethereum — Says Chair Gensler Intentionally Misled Congress

U.S. House Financial Services Committee Chairman Patrick McHenry has slammed both the U.S. Securities and Exchange Commission (SEC) and Chair Gary Gensler regarding the SEC’s investigation into ethereum, suggesting that ether might be classified as a security. Additionally, the lawmaker emphasized that Gensler intentionally misled Congress on the issue. ‘Chair Gensler Himself Misled Congress’ The […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Raoul Pal Signals ‘Banana Zone’ Rally, Predicts Strong ‘Crypto Summer’ for Digital Assets

With cryptocurrency values on the decline and bitcoin down 13% from a month ago, British financial expert Raoul Pal predicts a rebound during the “Crypto Summer.” According to Pal, this rise will generate widespread excitement, and “everything will get caught up in euphoria.” British Financial Guru Spells Out Next Big Crypto Wave: ‘Full Mania’ Expected […] Source CryptoX Portal

Former Binance Boss Changpeng Zhao Sentenced to 4 Months in Jail

On Tuesday, April 30, 2024, Changpeng Zhao (CZ), formerly the CEO of Binance, was sentenced in a Seattle courtroom for his compliance failures at the cryptocurrency exchange. The sentencing was first covered by Nikhilesh De and Danny Nelson of Cryptox, who reported directly from the courthouse. Per Nikhilesh De’s X thread, the proceedings began with […] Source CryptoX Portal

Epic sats and pieces of paper: 5 crazy crypto auctions

Millions of dollars have been spent on rare mementos from Bitcoin’s past — with some auctions for NFTs breaking records. Bitcoin’s now a teenager — and that means there’s a growing appetite for memorabilia from the cryptocurrency’s early days. It’s like when an unsealed, first-generation iPod hits the market. Bidders go absolutely berserk and end up paying $29,000 for sentimental value. Here, we’re going to look at five of the biggest (and craziest) crypto-related auctions of all time. Janet Yellen in 2017 | Source: Bloomberg 1. The ‘Buy Bitcoin’ sign…

Omnity reveals first interoperability solution for Runes 

Omnity, an omnichain interoperability protocol, announced Runes integration. The Omnity team told crypto.news that it had integrated Runes, an efficient UTXO-based Bitcoin meta-protocol that allows the trading of fungible tokens on Bitcoin. With the new update, Omnity reduces network congestion, supporting the evolution of the Bitcoin network towards serving broader economic functions. At launch, Omnity provides core functionality for Runes tokens, including transferring them between chains. This is achieved through introducing a twin token, which ensures that the integrity and functionality of Runes assets are maintained across different chains. “In addition to interoperability, the Omnity development team…

Fear of Impermanent Loss: Though ‘Overstated,’ It Has Impacted Participation in Liquidity Pools, Says Mehdi Lebbar

Although decentralized finance (defi) continues to evolve, it is being perceived as the domain of a select few, Mehdi Lebbar, the co-founder of the investment platform Exponential, says. However, he argues that defi protocols can alter this perception by emphasizing user education. Lebbar contends that regular educational newsletters, explainer videos, and social media posts can […] Source CryptoX Portal

HK vs. US: China AMC Leads but Can’t Lift Hong Kong Spot Bitcoin ETFs to US Levels

Hong Kong’s debut of six spot bitcoin and ethereum exchange-traded funds (ETFs) garnered HK$87.5 million ($11 million) on their first day, April 30. However, these ETFs underperformed compared to their U.S. counterparts, which had attracted a much larger sum of $4.6 billion on their initial day. Despite High Hopes, Hong Kong’s Bitcoin ETFs Start Slow […] Source CryptoX Portal