Tag: Issues

Analyst Issues A Bitcoin Warning, Calls September A Red Month

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In a recent video by renowned cryptocurrency analyst Benjamin Cowen, ominous predictions for Bitcoin performance in September have emerged. Cowen, known for his data-driven approach to cryptocurrency analysis, shared his insights regarding Bitcoin’s historical performance in September and its potential trajectory for the current year. Cowen acknowledged that September has traditionally been a challenging month for BTC, often characterized by negative price movements. He emphasized that while historical trends suggest a red month for Bitcoin in September, there are no guarantees, and occasional green September does occur. The analyst highlighted…

Binance reportedly loses APAC region head amid regulatory issues

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied One of Binance’s top executives is reportedly exiting the company following several senior executive departures in recent months.  Binance Asia-Pacific (APAC) chief Leon Foong is resigning from the firm, Bloomberg reported on Aug. 31, citing people familiar with the matter.  While the report does not state the reason for Foong’s exit, the executive has become the latest senior employee to leave the crypto exchange. Binance has also seen the departure of several top executives, including general…

Binance to halt BUSD support due to legal issues

On Aug. 30, Binance informed users via its in-app notification about its intended discontinuation of the BUSD stablecoin support in early 2024. Binance intends to cease support for the BUSD stablecoin. The move indicates a shift in Binance’s operations amidst ongoing legal battles. As Paxos has halted minting of new BUSD, #Binance will now gradually remove support for the stablecoin on our platform. BUSD will always remain backed 1:1 by USD, and we continue to support a wide range of other stablecoins. Find more details below. — Binance (@binance) August…

US Copyright Office issues notice of inquiry on artificial intelligence

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The United States Copyright Office issued an official request for comments and notice of inquiry on copyright and artificial intelligence (AI) in the Federal Register on Aug. 30.  The Copyright Office issued a notice of inquiry in the Federal Register seeking public comment on questions about copyright law and policy issues raised by AI systems. Initial comments are due by October 18, 2023. Reply comments are due November 15, 2023. https://t.co/fNiHB1W7SI pic.twitter.com/3vNBRNxGJj — US Copyright Office (@CopyrightOffice) August 30, 2023 According to the filing, the Copyright Office is seeking “factual…

SEC Issues First Enforcement Action Targeting NFTs

Impact Theory, a California-based media company, raked in nearly $30 million selling three tiers of NFT offerings the SEC deemed to be securities, according to a Monday statement from the markets regulator. The NFTs qualify as securities because Impact Theory’s team promised investors would profit off the collectibles, touting their “tremendous value,” according to an SEC order. Source

Sam Bankman-Fried’s lawyers appeal decision on bail, citing First Amendment issues

Lawyers representing Sam Bankman-Fried, or SBF, have filed an appeal claiming the former FTX CEO’s bail was revoked “in retaliation for him exercising his First Amendment rights” and not witness tampering as alleged. In an Aug. 25 filing in the United States Court of Appeals for the Second Circuit, SBF’s legal team filed a motion seeking to have him released before his October trial. According to his lawyers, Judge Lewis Kaplan revoking SBF’s bail on Aug. 11 was “improper,” claiming his actions of speaking to the press and releasing information…

Team Behind Memecoin Pepe Issues Statement Regarding Massive Transfer of Coins to Crypto Exchanges

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The team behind Pepe (PEPE), the memecoin that’s taken crypto markets by storm this year, has issued a statement regarding a large transfer of coins that caught its community’s attention. A Pepe community leader posted to social media platform X to announce that some of the project’s personnel turned into “bad actors” who were in conflict with the remaining team members. According to the statement, all founding members except one anonymous entity have sold their stake and abandoned the project, which led to the heavy price correction last week when…

Binance refutes euro issues, confirms additional KYC

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance spokesperson told crypto.news confirmed that SEPA-based euro payments will continue to be processed until Sept. 25 but with a catch. In an Aug. 22 statement, a Binance spokesperson told crypto.news that the SEPA deposit and withdrawal service will continue until 25 September. Still, additional checks are likely for users who intend to use SEPA transfers to interact with their accounts in the exchange: “As we approach that date, some users may occasionally be asked for…

Binance limits withdrawals in Europe, cites payment processor issues

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Binance cryptocurrency exchange customers are allegedly facing troubles with fiat withdrawals in Europe due to issues related to the Single Euro Payments Area (SEPA) transfers. The exchange has allegedly suspended euro withdrawals and deposits via SEPA, Binance’s customer support wrote in a now-deleted message on X (formerly Twitter) on Aug. 20. In the now-deleted message, the cryptocurrency exchange said it doesn’t have a specific time frame for restoring SEPA transfers, adding that its payment provider “can no longer support these transactions.” “We understand the inconvenience this has caused, and we’re actively…

Shibarium executive issues strong warning against exploitation risks

LucieSHIB, Shiba Inu’s marketing specialist, has cautioned the public against potential exploitation risks on Shibarium, the just-released Ethereum Layer-2 scaling protocol. According to a post by the executive on X, the former Twitter social media app, Shibarium is accessible for development by anyone – similar to other blockchains like Polygon (MATIC) and Ethereum (ETH). However, this openness also renders it vulnerable to potential attacks. Malicious entities could exploit the platform to target decentralized applications (DApps) constructed on the L2 network or deploy fraudulent rug pull tokens. Users should exercise caution and…