Tag: News

Lawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as ‘Safe’ – Bitcoin News

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A class-action lawsuit against Binance US has been filed in California that alleges the exchange misled investors and sold unregistered securities to roughly 2,000 plaintiffs. The case was filed by the law firm Roche Freedman LLP, a company known for high-profile crypto lawsuits during the last few years. The lawsuit accuses Binance US of marketing terrausd (UST) as a firmly fixed stablecoin tied to the value of the U.S. dollar. Class-Action Lawsuit Filed Against Binance US Over the Terra UST Collapse — 2,000 Plaintiffs Say They Were Misled by the…

The Rise of Blockchain in Formula 1 – Press release Bitcoin News

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press release PRESS RELEASE. Formula One is one of the greatest sports in the world and brings about the best automobile teams which compete for the title yearly. From the racing tracks in Spa to the roads of Monte Carlo in Monaco, Formula One has developed into a billion-dollar industry with teams and drivers boasting a cult following globally. The relationship between Formula One and the blockchain industry has grown in recent years. In part due to the growing adoption of crypto and blockchain technology. Crypto.com made a significant splash…

Celsius’ Woes and Rampant Inflation Prompts Extreme Fear – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock The total crypto market cap has dropped below $1 trillion for the first time since January 2021. After the weekend started at $1.16 trillion, the value of all cryptocurrencies reached a low of $940 billion this morning, as Bitcoin plummeted below $24,000. How has this all happened? Many think it is mainly due to fear surrounding the insolvency risk of one of the biggest lending platforms Celsius, after it has been widely speculated that they have been irresponsible with client funds.…

DOGE, SOL Hit 1-Year Lows as Cryptos Crash – Market Updates Bitcoin News

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DOGE and SOL were some notable movers on Monday, as crypto markets were once again hit by a red wave. DOGE dropped to its lowest level since April 2021, whilst SOL was also trading close to a one-year low to start the week. Solana (SOL) SOL’s sell-off saw prices fall to their lowest level since July last year, as crypto markets were down across the board. The world’s ninth-largest crypto token dropped by over 17% on Monday, hitting an intraday low of $26.45 in the process. This drop came less…

Celsius Insolvency Rumors Swirl After Company Pauses Withdrawals, Nexo Offers to Buy Firm’s Assets – Bitcoin News

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On Monday, June 13, 2022, the crypto economy dropped below the $1 trillion region, as a great majority of crypto assets have lost between 10% to 25% during the last 24 hours. Meanwhile, the crypto community has been discussing the cryptocurrency lending application Celsius as rumors of insolvency have been swirling. On June 12, around 10:10 p.m. (ET) Celsius announced that it paused “all withdrawals, swaps, and transfers between accounts.” Celsius Pauses Lending Application’s Operations, Crypto Community Talks About a Possible Insolvency and Liquidations On Sunday evening, the lending firm…

BTC Drops Below $24,000 to Lowest Level Since December 2020 – Market Updates Bitcoin News

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Bitcoin fell to its lowest level since December 2020 to start the trading week, as crypto markets continue to plunge. ETH also fell considerably on Monday, as prices declined by over 16%, falling below $1,200 in the process. Bitcoin Bitcoin fell to its lowest level since December 2020 on Monday, as crypto markets plunged to start the week. Markets sold off over the weekend following an unexpected rise in U.S. inflation, with price declines carrying over into the new trading week. BTC/USD fell to an intraday low of $23,607.69 earlier…

Russian Parliament to Review Bill Prohibiting Crypto Payments – Regulation Bitcoin News

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Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers will review a new bill imposing a ban on the use of digital financial assets, a legal term currently encompassing cryptocurrencies, and utilitarian digital rights, or tokens, as a means of payment in Russia. The…

the World’s Only DeFi Platform That Always Rewards, No Matter the Market – Sponsored Bitcoin News

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sponsored The cryptocurrency Winter is (NOT) here to stay. If the media was any indicator of the current state of the cryptocurrency industry, one would think it was time to “pack up” and find a new technology to invest both time and money into. It is true that the cryptocurrency industry is currently experiencing another so called “cryptocurrency winter” and while numerous references may be cited to support that, it is also true that this is not the first nor the worst one. In fact, well supported and funded projects…

Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but Endorse CBDCs – Emerging Markets Bitcoin News

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Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap The Nigerian and Kenyan central bankers have said cryptocurrencies are too volatile to become an acceptable payment method. The bankers also insisted that cryptocurrencies pose a risk to financial stability, a Reuters report has said. As per the report, the bankers namely, Kingsley Obiora, the deputy governor of…

Human Rights Advocates Insist Bitcoin ‘Provides Financial Inclusion’ — Refutes Claims in Critics’ Letter to US Congress – News Bitcoin News

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Human rights defenders from 20 countries have insisted that bitcoin “provides financial inclusion and empowerment because it is open and permissionless.” Together with stablecoins, the cryptocurrency offers “unparalleled access to the global economy” for people from countries whose currencies have either collapsed or are cut off from the rest of the world. Bitcoin as a Financial Inclusion and Empowerment Tool About 21 human rights advocates from 20 different countries have sent a letter to the U.S. Congress wherein they defend bitcoin as well as rebut claims recently raised by some…