Crypto traders were monitoring the U.S. government’s monthly inflation report for signs of whether the Federal Reserve’s monetary-policy tightening this year is helping to slow the pace of consumer price increases. Original
According to a report, the US Department of Justice is considering filing charges against Binance and several of its officials as part of a lengthy investigation. Binance has denied this news. In a tweet posted on Monday, the official Binance Twitter account made reference to the “wrong” Reuters report and pointed readers to the whole statement it provided to the news outlet on the subject. Changpeng “CZ” Zhao, the CEO of the company, later tweeted this. Reuters has it wrong again. Now they’re attacking our incredible law enforcement team. A…
The incoming CPI report is less likely to affect the Federal reserve’s meeting, but it may indicate a longer-term trajectory for interest rates. Prices of goods and services continue to surge even though economists expected that consumer inflation probably dropped in November. Fingers are crossed as hopes are high that November consumer inflation could show cooling signs when the consumer price index is released. The report is expected to be out by 8:30 a.m. ET on Tuesday, with the Federal Reserve kick-starting the two-day meeting. Economists’ Expectation on November Consumer…
Withdrawals rose following a string of concerning news reports about Binance, and as investors have become increasingly cautious about their funds on centralized exchange. The swift collapse of rival exchange FTX, piled on other industry debacles, has prompted other exchanges to prove that they are safeguarding customers’ assets. Source
A new report has claimed that Do Kwon, the fugitive CEO of Terraform Labs, is currently staying in Serbia. The report added that the South Korean government has engaged the Serbian government regarding the matter. Meanwhile, Kwon has accused Sam Bankman-Fried and Alameda Research of orchestrating events that led to the “depeg” of Terra’s once-stable coin UST. Do Kwon Getting Help in Serbia According to South Korean online publication Chosun, Do Kwon, the CEO of Terraform Labs who is wanted on charges of providing false information to investors, is living…
Following the collapse of FTX and its Nov. 11 bankruptcy filing, $73 million worth of its political donations is currently at risk of being recalled to repay the failed exchange’s creditors, according to a report by Bloomberg. Speculators online allege that the former FTX CEO and his executives sought to influence industry regulations with their generous multimillion-dollar donations to politicians and super PACs. Sam Bankman-Fried and executives Ryan Salame and Nishad Singh are believed to have been high-paying donors to both the Republican and Democratic United States political parties. Many politicians who…
Coinbase has seen information requests from law enforcement surge over the past year, the cryptocurrency exchange reported in its latest transparency report. The vast majority of the enquiries came from the United States and were tied to criminal investigations. Coinbase’s new transparency report covers the last four quarters ending with September. In that time, the exchange received 12,320 information requests from law enforcement, an increase of about 66%. The United States accounted for 5,304, or 43%, of those requests. The United Kingdom, Germany and Spain produced between 1,000 and 2,000…
Eric Adams, who became mayor of New York City in January, has reportedly stood behind a campaign pledge to make the city a crypto hub, despite a drop in the price of many tokens in 2022. According to a Dec. 12 report from Slate, Adams suggested he still wanted New York City to be the “center of the cryptocurrency industry” — one of the plans he announced during his mayoral run in November 2021. The New York City mayor reportedly converted the first of his three paychecks while in office…
SBF attempted to depeg the largest stablecoin by daily traded volume, Tether USDT, before filing for bankruptcy protection. The latest details of FTX and Alameda’s pre-bankruptcy protection shows that Sam Bankman-Fried (SBF) allegedly attempted to depeg stablecoins. According to a WSJ report, SBF was confronted by other crypto executives from a Signal group chat called “Exchange coordination”. Reportedly, Changpeng Zhao, Binance CEO, confronted SBF on November 10, accusing him of attempting to depeg the stablecoins market. “Stop trying to depeg stablecoins,” CZ noted in the Signal group chat. According to…
Kwon left South Korea in April for Singapore, and went to Dubai in October, from where he went to Serbia, CoinDesk Korea reported. Authorities are concerned that he might have already moved to another country; his passport has already been invalidated, so authorities cannot check official records, according to the report. Source