Category: CryptoX News

Sun Token pump gains speed but a reversal might be near

Sun Token price continued pumping on Friday, Aug. 23, making it one of the best-performing cryptocurrencies this week.  Sun (SUN) surged to a high of $0.028, marking its highest level since December 2021 and a staggering 526% increase from its lowest point in 2023. Its market capitalization has grown significantly, rising from $101 million on Aug. 17 to over $276 million. Sun’s jump mirrored the performance of other tokens in Justin Sun’s ecosystem. Tron (TRX) rose to $0.1660, its highest level since May 2021. Similarly, BitTorrent (BTT) soared to $0.0000010…

Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure

Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard […] Source BitcoincryptoexchangeExchanges CryptoX Portal

China and Russia Push for Increased Local Currency Use in Trade, Deepen BRICS Cooperation

China and Russia solidified their cooperation in currency, finance, and within the BRICS framework following a meeting between Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin. They committed to local currency use, payment infrastructure, and mutual investments, while also advancing collaboration in artificial intelligence, sustainable development, and global governance. China and Russia Strengthen […] Source CryptoX Portal

Nigerian Firms Forecast Further Naira Depreciation

A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future, […] Source CryptoX Portal

Nigerian Central Bank Affiliate Partners With Blockchain Startup Zone to Boost Payments

The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone believe that blockchain technology can revolutionize the financial sector and enhance regulatory oversight. NIBSS Enhances Payment […] Source CryptoX Portal

Report Reveals Hamster Kombat Faces Legal Action From Early Investors

Hamster Kombat, the Telegram tap-to-earn gaming sensation, is facing legal woes in Russia stemming from conflicts between its alleged creator, Eduard Gurinovich, and one of its early investors, Ad.ru, an IT holding company. According to reports from Lenta.ru, a popular Russian online newspaper, Gurinovich created Hamster Kombat using a company named Arenum, of which Ad.ru […] Source CryptoX Portal

Gotbit Hedge Fund: Memes Are Driving the Next Wave of Blockchain Innovation

Memecoins, initially a niche in the digital asset world, have grown into a significant force within the blockchain and crypto markets. These tokens, often associated with cultural references and humor, present unique opportunities for substantial financial gains, drawing in traders and investors eager for high returns. As these tokens continue to evolve, their influence on […] Source CryptoX Portal

FTX’s Ryan Salame Seeks to Void Guilty Plea, Citing Government’s Alleged Breach of Plea Agreement

Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has filed a motion to withdraw his guilty plea in federal court. Salame claims that prosecutors breached an agreement that led him to plead guilty by resuming an investigation into his domestic partner, Michelle Bond. Ryan Salame Challenges Guilty Plea, Claims Government Reneged on […] Source CryptoX Portal

Fed Chair Powell Signals Confidence in Inflation Control, Hints at Rate Cuts

Federal Reserve Chair Jerome Powell expressed confidence in the central bank’s progress in reducing inflation, suggesting that rate cuts may be on the horizon. Speaking at the Jackson Hole economic symposium, Powell emphasized the Fed’s commitment to achieving its 2% inflation target while maintaining a strong labor market. Rate Cuts Possible as Powell Expresses Confidence […] Source CryptoX Portal

WazirX announces INR withdrawals, provides update for crypto holders

Indian cryptocurrency exchange WazirX has announced that customers will be able to withdraw their Indian Rupee balances starting from August 26. The WazirX team noted in its announcement on Aug. 23 that customers would not yet be able to access their cryptocurrency balances for withdrawal. This update follows the exchange’s halting of all withdrawals following the $230 million hack suffered in July. According to WazirX, the decision to halt withdrawals and trading was made to “mitigate impact” and to assess the next steps toward resolving the situation for its customers.…