Industry News
MicroStrategy CEO Michael Saylor rakes in $1.2 Billion profits amid Bitcoin surge – Here’s how!
Michael Saylor’s $1.2 Billion bitcoin Triumph: MicroStrategy CEO Michael Saylor has been the talk of the crypto town after making a colossal investment in bitcoin, amassing an impressive $1.2 billion fortune in just three days following the digital currency’s price surge. Saylor’s strategic move has propelled MicroStrategy into one of the leading public companies in…
Wall Street’s role in fueling Bitcoin’s wild rally – You’re totally missing out
Wall Street’s Involvement in bitcoin: A Game-Changer for the Crypto Market The recent surge in value of bitcoin has been fueled, in large part, by Wall Street’s increasing involvement in the crypto market. Institutional investors have been pouring substantial amounts of capital into bitcoin as a result of the launch of bitcoin exchange-traded funds (ETFs),…
Over 53 billion LUNC tokens burned by Binance to aid market stability
Binance, the globally recognized leader in cryptocurrency trading, has recently accomplished the 19th round of terra’s Luna Classic (LUNC) token burn mechanism on its platform. This event involved the elimination of approximately 2.21 billion LUNC tokens from circulation, bringing the grand total of LUNC tokens burned by Binance to an impressive figure of over 53…
Dave Ramsey’s crypto caution – Should you listen? Experts debate
Financial Guru Dave Ramsey Expresses Caution Against Cryptocurrencies Dave Ramsey, the esteemed financial expert and CEO of Ramsey Solutions, has raised red flags about cryptocurrencies, asserting that they constitute a risky investment. Ramsey’s skepticism highlights concerns shared within the financial community regarding the volatility and speculative nature of digital assets. Background and Influence of Dave…
Bitcoin scarce on OTC desks, Says Caitlin Long
Recent Market Dynamics of bitcoin: Shifting Supply and Demand The bitcoin market is currently undergoing a significant shift, with substantial inflows into bitcoin Spot Exchange-Traded Funds (ETFs) totaling over $7.4 billion in the past 50 days. This trend is having a direct impact on the availability of bitcoin on Over-the-Counter (OTC) desks, according to blockchain…
CBN Revokes 4,173 Exchange Bureaus to Strengthen Nigeria’s Financial Market
At a Glance The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 exchange bureaus due to non-compliance with regulatory guidelines. New CBN regulations mandate a minimum capital requirement of 2 billion nairas for Nigerian exchange bureaus, promoting financial stability. CBN’s crackdown on illegal forex trading increases transparency and reinforces Nigeria’s financial system…
Solana surges more than 30% – Will the weekend’s historic negative sentiment affect its price?
solana, a prominent player in the crypto market, has recently witnessed a substantial price surge of over 30% within a week. This significant uptick reflects growing confidence and optimism among investors regarding solana’s capabilities. However, some concerns have arisen about the potential impact of historic negative sentiment over the weekend on its price movement. solana…
Which crypto exchange made it to Hong Kong’s license application deadline?
Hong Kong: A Blossoming Hub for the Crypto Industry Amidst Intense Competition The crypto industry is witnessing significant growth in Hong Kong, with a remarkable 24 businesses applying for licenses to operate digital-asset exchanges within the jurisdiction. This development comes as the city aims to establish itself as a regulated hub for the industry, attracting…
Binance recovers $4.4 Billion amid deposit woes
Binance: The World’s Leading Crypto Exchange Successfully Recovers $4.4 Billion in Mishandled Digital Assets for Users Binance, the world’s leading cryptocurrency exchange, has recently announced that it has successfully recovered a total of $4.4 billion in digital assets for its users who experienced mishandled deposits over the past two years. This significant recovery is a…
U.S. Department of Energy to Initiate Comment Period for Crypto Miner Survey
Title: The U.S. Department of Energy Initiates a Comment Period on Its Proposed Survey Targeting Crypto Miners: A Collaborative Approach to Regulation and Understanding In an unprecedented move for the crypto mining industry, the United States Department of Energy (DOE) has announced a comment period regarding its proposal to conduct a survey targeting cryptocurrency miners….
FTX’s Vigilance Amidst Bankruptcy: A Warning Against Unauthorized Bids
In an important development, the FTX Derivatives Exchange, which is currently undergoing bankruptcy proceedings, has issued a critical advisory to its creditors. This warning comes as the exchange prepares to meet its obligations to those impacted by its unexpected collapse in 2022. The core message of this advisory is to bring attention to the presence…
Financial watchdog FATF reduces Russia’s rating over digital asset control deficiencies
Background on Russia’s Compliance Rating and Virtual Assets The Financial Action Task Force (FATF), an international organization founded to establish global standards for preventing money laundering and terrorist financing, has recently adjusted Russia’s compliance rating regarding its capacity to monitor and counteract suspicious transactions involving virtual assets. The downgrade now classifies Russia as “partially compliant.”…
Arbitrum Set to Unlock Over $2 Billion in Tokens on March 2024
Arbitrum’s Upcoming $2 Billion token Unlock: A Major Milestone in ethereum’s Layer 2 Scaling Protocol Arbitrum, the highly anticipated ethereum Layer 2 scaling solution, is set to release over $2 billion worth of ARB tokens on March 16, 2024. This substantial token unlock, as per the data from token Unlocks, represents one of the most…
Indonesia to consider changes in crypto taxation amid industry concerns
Call for Tax Policy Review on Cryptocurrencies in Indonesia: An Urgent Need to Ease the Burden The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) has added its voice to the growing chorus of stakeholders demanding a review of the country’s tax policies on digital assets. Currently, cryptocurrencies in Indonesia are classified as commodities, making them…
Wall Street Journal faces defamation lawsuit for Tether-Bitfinex coverage
Christopher Harborne, Proprietor of AML Global Ltd., a Thailand-Based Aviation Fuel Broker, Institutes Legal Action Against The Wall Street Journal (WSJ) for Defamation On February 28, 2024, in a Delaware state court, Christopher Harborne, the owner of AML Global Ltd., filed a lawsuit against The Wall Street Journal (WSJ). The legal action stems from an…
Elon Musk sues OpenAI and Sam Altman over agreement breach
Elon Musk’s Legal Dispute with OpenAI and Its CEO, Sam Altman: A Battle Over the Future of Artificial General Intelligence (AGI) Elon Musk, the innovative entrepreneur behind companies like SpaceX and Tesla, has found himself at the center of a contentious legal performance with OpenAI, a leading artificial intelligence (ai) research organization, and its CEO,…
Portal’s gaming token hits $425 million in market cap
Portal’s Debut: A New Milestone for the Gaming token and Cross-Chain Platform The crypto community has been abuzz with excitement following the recent launch of Portal, a groundbreaking gaming token and cross-chain platform. This highly anticipated project made its grand entrance into the marketplace, with airdrop participants and Binance token stakers looking on with great…
Elon Musk’s Neuralink under FDA criticism over animal welfare practices
FDA Discovers Lapses in Neuralink’s Animal Welfare Practices: Ethical Concerns and Debates Recent revelations from the United States Food and Drug Administration (FDA) have brought significant attention to Neuralink, a brain chip startup founded by Elon Musk, regarding their animal welfare practices during research and experimentation. According to documents obtained by Redica, a regulation-focused data…
Crypto market highlights at the start of March 2024 – All you need to know
The crypto market in March 2024: The crypto market at the beginning of March 2024 showcases both promising trends and challenges, reflecting its dynamic nature. Despite occasional fluctuations, the overall trend in the crypto market continues to be bullish. bitcoin, the flagship cryptocurrency, has been leading the charge with its price surpassing significant milestones. Bullish…
Crypto criminals are thriving on the darknet, net nearly $2 billion
The Darknet: A Thriving Underground Marketplace for Cryptocurrency Transactions Delving into the uncharted territory of the internet, we encounter the darknet – a vast and intricate network of illicit activities where less-than-legal transactions flourish, especially in the realm of cryptocurrency. This secretive underworld is akin to an endless keyboards of cat and mouse between cybercriminals…