Disney’s venture into the metaverse has met a sudden halt, with reports indicating that the entertainment behemoth has closed down its entire metaverse division. In an effort to optimize its operations and reduce expenses, the company is cutting 7,000 jobs,…
SafeMoon’s Liquidity Pool Breach of 8.9 million: A Comprehensive Analysis
SafeMoon, a prominent cryptocurrency project, has recently experienced a security breach in its liquidity pool. This article delves into the specifics of the incident, its implications for the project, and the measures taken to rectify the situation. Overview of the…
SEC Chair Gary Gensler to testify before congress over crypto regulation – Unprecedented Congressional Oversight Looms
Recently, US authorities have intensified their actions against the domestic cryptocurrency industry, making Operation Choke Point 2.0 more evident than ever. The US Securities and Exchange Commission (SEC) has been central to this campaign, as it issued a Wells Notice…
China’s State-Owned Banks Offer Support to Hong Kong’s Crypto Industry
Banking Hurdles for Crypto Firms Banking for crypto businesses has been difficult due to the anonymous nature of digital assets, which raises red flags for traditional banks that prioritize know-your-client (KYC) procedures. It typically takes three months for crypto-focused companies…
Bank of Japan Revolutionizes Secure Digital Payments with CBDC Readiness
Bank of Japan Emphasizes CBDC Readiness for Safe Digital Payment System Accessibility The Bank of Japan (BoJ) has highlighted the need to ensure that its Central Bank Digital Currency (CBDC) is prepared to provide a secure digital payment system to…
Ex-Manager of Shakira – Gerard Piqué’s loses $600 Million in a Scandal and Adapting to a Humble Lifestyle
In a dramatic turn of events, soccer star Gerard Piqué has found himself entangled in a massive cryptocurrency scandal, resulting in a jaw-dropping loss of $600 million. This article examines the details of the unfortunate incident, how it has affected…
Binance Addresses Senators’ Concerns (includes Senator Warren) and Clarifies Misconceptions
In a recent response to a letter dated March 1, 2023, from Senators Warren, Van Hollen, and Marshall, Binance addressed concerns and misconceptions regarding its regulatory compliance and transparency . The letter provided a detailed background on Binance and its…
The Challenges Faced by Crypto as Banks Withdraw Support
Crypto firms struggle to find banking services in the UK amid increasing regulations and risk aversion Declining Support from Banks The collapse of several crypto-friendly American banks has diminished the industry’s access to the traditional financial system, sparking concerns that…
Binance’s CZ Response to the CFTC’s Civil Complaint
In a surprising turn of events, the CFTC filed a civil complaint against Binance.com, despite their cooperative relationship that spanned over two years. As a keen observer of this industry, I will delve into the details of the situation and…
CFTC Files Complaint Against Binance and Executives – What we know so far
The Commodity Futures and Trading Commission (CFTC) has filed a complaint against cryptocurrency exchange Binance, its co-founder Changpeng Zhao, and former chief compliance officer Samuel Lim. The filing accuses them of soliciting U.S. users and circumventing the exchange’s own compliance…