Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global cryptocurrency exchange Binance
During the first week of Feb. 2023, the United Kingdom Court of Appeal overturned a High Court decision from March 2022 in the case of Craig Wright’s Tulip Trading Limited (TTL) vs. 16 cryptocurrency developers. The case will proceed to trial as Wright, who claims to be Satoshi Nakamoto, stated his team was “delighted” with
Infura is developing a decentralized marketplace of data providers that will help to prevent Web3 app crashes in the future, according to a Feb. 6 Cointelegraph interview with Infura researcher Patrick McCorry. McCorry stated that the new “Dfura” or “decentralized Infura” will help to ensure that blockchains remain decentralized by distributing data provider services among
The U.K. outline of the future financial services regulatory regime for crypto covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens and initial coin offerings. And it’s certainly good news for the industry, as the upcoming regulation doesn’t propose a ban on algorithmic stablecoins or excessive requirements on data
Ethereum core developers plan to activate the “Shapella” transition through the Zhejiang public testnet on Feb. 7, 2023, according to Tim Beiko of the Ethereum Foundation. If successful, Beiko said the Sepolia testnet could follow two days later, followed by the Goerli testnet. He noted that the testnet has a faucet, block explorer, and staking
The Bank of Italy is looking for new ways to apply distributed ledger technology (DLT) and is preparing for the advent of Markets in Crypto-Assets (MiCA) regulation, bank governor Ignazio Visco told a congress of Assiom Forex, the Italian financial markets association, on Feb. 4. DLT may offer benefits such as cheaper cross-border transactions and
John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy. In testimony for FTX’s case in the United States Bankruptcy Court for the District of Delaware on Feb. 6, Ray said he and other professionals had “carefully” been conducting
Ordinals inscriptions, viewed as a kind of Bitcoin-native NFTs, are picking up steam among some Bitcoin circles, even though the procedures to issue them are far from user-friendly. The protocol, which was unveiled in January, has already served to bring more than 7,000 inscriptions directly to the Bitcoin chain, with some collections already present. Ordinals
The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on
Shiba inu has been relatively stable to start the week, as prices remained close to recent highs, despite Monday’s market sell-off. Cryptocurrencies were mostly lower in today’s session, as markets continued to react to historically low U.S. unemployment figures. Avalanche was down in today’s session, nearing a one-week low. Shiba Inu (SHIB) Monday saw shiba
Bitcoin (BTC) stayed motionless at the Feb. 6 Wall Street open as analysis showed an “interesting dynamic” in play on BTC price charts. Bitcoin: Golden cross meets death cross Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ignored the start of United States equities trading to stay near $22,800. The pair had
FTX debtors are seeking to claw back millions of dollars given to U.S. political action committees (PACs) and political figures. Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb. 28, 2023. Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds
Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry. According to a Securities and Futures Commission report filed on Feb. 6, it plans to hire four additional staff to “better supervise” the activities of local virtual asset (VA) providers. Moreover, the extra oversight will help
Bitcoin fell to a seven-day low to start the week, as recent bullish momentum began to wear off in cryptocurrency markets. Friday’s stronger than expected U.S. non-farm payrolls report has made some question the Federal Reserve’s view that inflation has peaked. Ethereum also declined on Monday, however, it remained above $1,600. Bitcoin Bitcoin (BTC) started
Capitual, a Brazilian fintech company that offers cryptocurrency intermediation services, has partnered with Azimut, an asset management firm, to expand its service offer to Europe. The deal, which contemplates an investment of €15 million (about $16.2 million), would allow Capitual to start operating in Mexico, where Azimut has significant presence and operations. Capitual Gets €15
A Bulgarian investor has lost a large amount of money to fraudsters who convinced him he was putting cash into cryptocurrency. The scam operated through a call center in what is becoming an established scheme for extracting money from victims lured with promises of quick profits on stock and crypto markets. Defrauded Bulgarian Crypto Investor
Ripple CTO David Schwartz has spoken out in a recent tweet about the XRP buyback proposal that first surfaced in 2021 and is now resurfacing with a second iteration. The controversial proposal is currently being heatedly discussed again on Twitter after Valhil Capital CEO Jimmy Vallee brought up the idea again. The theory is based
Troubled cryptocurrency lending firm Hodlnaut is reportedly working with several potential investors to sell its business and other assets. A number of potential buyers have inquired about purchasing Hodlnaut and its claims against the collapsed crypto exchange FTX, Bloomberg reported on Feb. 6. Hodlnaut’s interim judicial managers have received multiple proposals to acquire its Singapore-based
The Bitcoin (BTC) price surge above $20,000 in the second week of January led to a market FOMO (fear of missing out), especially among small BTC holders. There was a significant surge in BTC addresses holding 0.1 BTC or less after Jan. 13. According to data shared by crypto analytics firm Santiment, 620,000 new BTC addresses
Bitcoin (BTC) starts the second week of February in a newly bearish mood as multi-month highs fail to hold. In what may yet bring vindication to those predicting a major BTC price comedown, BTC/USD is back under $23,000 and making lower lows on hourly timeframes. Feb. 6 trading may not yet be underway in Europe