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…
Hacker sent back $90 million funds to Euler Finance
Earlier this month, Euler Finance, a decentralized finance (DeFi) protocol, fell victim to a $200 million exploit. However, in a surprising turn of events, the hacker responsible for the attack decided to return a majority of the stolen funds to…
Treasury Department and IRS Seek Feedback on Tax Treatment of NFTs as Collectibles
The Treasury Department and Internal Revenue Service (IRS) have announced plans to solicit feedback regarding the tax treatment of nonfungible tokens (NFTs) as collectibles under tax law. The guidance also requests comments on NFTs as collectibles and outlines the IRS’s…
Sony Files Patent for NFT Framework in Gaming Exploring Cross-Platform Gaming with NFTs
Sony has recently published a patent titled “NFT Framework For Transferring And Using Digital Assets Between Game Platforms,” which delves into the potential of using NFTs in video games. The patent explores how NFTs can be played with and transferred…
Over 1,200 German Banks to Offer Bitcoin Trading for Retail Customers: A New Era of Crypto Accessibility
In a major development for the cryptocurrency sector, more than 1,200 German banks are now able to offer Bitcoin trading services to their retail customers. This groundbreaking move signifies increased mainstream adoption of cryptocurrencies and opens new doors for retail…
Why did Shib bun rate increase this week to 1300%?
The burn rate of Shib Inu has significantly increased in March compared to February. This is possibly because of Koyo project and Puppynet, a lesser-known initiative built on Shibarium. The launch of Puppynet has led to a staggering 1,300% spike…
Tether’s Robust Growth: Excess Reserves Reach $1.6 Billion to Back USDT Stablecoin
Tether, the company behind the widely-used USDT stablecoin, has recently announced an estimated $700 million profit for the March quarter, pushing its total excess reserves to approximately $1.6 billion. This impressive growth underlines the company’s commitment to maintaining a strong…