Bitcoin (BTC) circled $25,800 on June 6 as the aftermath of fresh panic over the largest exchange, Binance, lingered. BTC price risks losing multimonth range Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it steadied after dropping to near three-month lows. The weakness came from a knee-jerk market reaction to the news that
The AI task force advisor to the prime minister in the United Kingdom said humans have roughly two years to control and regulate artificial intelligence (AI) before it becomes too powerful. In an interview with a local UK media outlet Matt Clifford, who also serves as the chair of the government’s Advanced Research and Invention
The SEC lawsuit against Binance on June 5, accusing the crypto exchange of violating various securities laws, had a direct impact on the crypto market as well as the balance sheet of the crypto exchange. According to data shared by crypto analytic firm Nansen, Binance saw a negative netflow of $778 million on the Ethereum
Cryptocurrency exchange Kraken said it investigated an issue with several crypto funding gateways, including major ones such as Bitcoin (BTC), Ether (ETH) and ERC-20 after it experienced delays in operations. On June 6, Kraken’s status page said, “Deposits and withdrawals are currently delayed. We will provide any updates as soon as possible.” The first notice
Developers working on artificial intelligence should be licensed and regulated similarly to the pharmaceutical, medical, or nuclear industries, according to a representative for Britain’s opposing political party. Lucy Powell, a politician and digital spokesperson for the United Kingdom’s Labour Party told The Guardian on June 5 that firms like OpenAI or Google which have created
Members of the United States Congress — Brad Sherman and Stephen Lynch — have penned a letter to the heads of the Treasury and the Internal Revenue Service (IRS), demanding the implementation of tax regulations for the crypto industry. In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, Congressmen Sherman
Illicit funds gained from the $35 million Atomic Wallet hack have been moving to a crypto mixer known to be favored by North Korea’s most notorious cyber-hacking group. On June 5, blockchain compliance analytics firm Elliptic reported that its Investigations Team has traced funds from the $35 million Atomic Wallet hack to crypto mixer Sinbad.io.
Coinbase, Robinhood, and representatives from the United States commodities regulator are set to testify before Congress on June 6 to discuss a newly proposed crypto bill. The trio will be sharing their firm’s, or agency’s views on a proposed bill that could see certain crypto tokens classified as digital commodities, among other things. “Tomorrow I
The Crypto Fear and Greed Index — a tool that measures broader market sentiment towards Bitcoin and the broader crypto market — has dipped to a level of “fear” not witnessed since March 11 this year, when Circle’s USD coin (USDC) briefly lost its dollar-peg. The stumble in market sentiment comes in the wake of
The total number of cryptocurrencies the United States securities regulator has accused to be a “security” has now reached an estimated 61, after adding a few more from its lawsuit against crypto exchange Binance. The 61 cryptocurrencies accused obeing a “security” comes from years of various litigation undertaken by the Securities and Exchange Commission (SEC)
Reginald Fowler, a former NFL team owner, has been sentenced to six years of prison for operating as a “shadow bank” to the crypto sector, which involved over $700 million in unregulated transactions over a 10 month timespan in 2018. The 63-year-old, who was a co-owner of the Minnesota Vikings, was sentenced to a total
The SEC’s latest complaint against Binance could point to why former Binance.US CEO Brian Brooks chose to step down in August 2021, only three months after his appointment. According to a June 5 tweet from cryptocurrency lawyer James Murphy — known on Twitter as MetaLawMan — the SEC complaint cites an “unnamed source” who ran
Bitcoin’s price declined 5% in one hour on June 5 after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance on allegations of violating federal securities laws. Even though the $25,500 support held for Bitcoin, investors are still digesting the potential impacts of the regulatory action, which also involves Binance CEO Changpeng
Binance announced in May that it would delist so-called “privacy coins” such as Monero (XMR), Zcash (ZEC) and others in several countries, including France, Italy, Spain and Poland. The decision underscored the reality that some companies might step over their own feet to ban privacy tech — even where it is legal — out of a
The announcement of the United States Securities and Exchange Commission suit against Binance, Binance.US and Binance CEO Changpeng Zhao (CZ) may have surprised the crypto community, but the SEC’s focus on the exchange was well known. The suit’s contents were met with a variety of reactions. CZ claimed in a tweet on the morning of
The lively discussion around artificial intelligence (AI) continues. Last week, dozens of AI experts — including the CEOs of OpenAI, Google DeepMind and Anthropic — signed an open statement with a single sentence: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.”
Bitcoin (BTC) and altcoins witnessed a sharp sell-off on the news that the United States Securities and Exchange Commission (SEC) had filed a suit against Binance in U.S. courts for unregistered securities operations. This lawsuit could delay the recovery in Bitcoin and most major altcoins as traders could prefer to remain on the sidelines for
Stablecoin issuer Tether (USDT) has announced that it will be partnering with Bitcoin-friendly nation El Salvador to invest in a planned $1 billion dollar renewable energy initiative. The Central American country continues efforts to drive Bitcoin adoption after becoming the first nation to make BTC legal tender some three years ago. The latest is a
It is a goal of many in the crypto industry to evolve the space and bring it into the mainstream, but the industry still faces constant criticism from and continues to be regulated by individuals who may not fully understand how it works. Regulatory bodies worldwide have been increasingly vigilant in addressing potential risks and
1 minute ago According to the regulator, Binance failed to register as a securities exchange and operated illegally in the United States. 10 Total views Listen to article Breaking news Join us on social networks The United States Securities and Exchange Commission (SEC) filed suit against Binance, its U.S. platform and Changpeng Zhao (CZ) in