NewsRoom Articles - Page 21 of 178

WednesdayOct 02, 2024 9:00 am

Binance’s CZ Walks Out of Jail — What Next?

Changpeng Zhao was formerly thought to be the richest inmate in the nation, with Forbes pegging his net worth at an astounding $61.6 billion. He spent four months in a low-security California prison after admitting that Binance, the cryptocurrency exchange he founded, did not comply with Know Your Customer (KYC) regulations, a breach of the Bank Secrecy Act. On Sept. 27, 2024, Zhao was released, two days ahead of his original release date, which had been set for Sept. 29. This early release was likely due to the original date falling on a Sunday, giving the prison authorities the option…

MondaySep 30, 2024 9:00 am

US SEC Claims XRP Rides on Speculation

A recent remark from the U.S. Securities and Exchange Commission (SEC) could influence people’s perceptions of XRP, the digital currency associated with Ripple. A document shared by Anderson, a well-known figure in the XRP community, shows that the SEC recognizes the importance of speculation in setting the cost and use of XRP. The document, a part of the SEC v. Ripple litigation, suggests that speculation appears to be a fundamental factor underlying XRP’s valuation rather than having a short-term impact on the price. One of the key elements in the SEC’s argument is an email from Ripple CEO, Brad Garlinghouse,…

FridaySep 27, 2024 9:00 am

Could US Presidential Polls Shape Crypto’s Future?

The crypto industry has been actively involved in political donations, aiming to influence the upcoming U.S. elections in November, hoping for more favorable legislative outcomes. Crypto’s future remains a contentious issue, sharply dividing Donald Trump from the outgoing Biden administration. Trump has courted support from crypto investors, pledging to position the country as the global crypto hub and proposing a strategic national Bitcoin reserve akin to the government’s gold holdings. Recently, he launched World Liberty Financial, a new venture focused on cryptocurrencies, underscoring his newfound enthusiasm, which contrasts starkly with his previous skepticism toward Bitcoin. In contrast, the Biden administration,…

WednesdaySep 25, 2024 9:00 am

Federal Rate Cut Causes Crypto Stocks to Rally on US Exchanges

On Thursday, U.S.-listed cryptocurrency stocks saw a notable rise, driven by a half-percentage point interest rate decrease that encouraged investors to take on more risk. This move added to the industry’s positive momentum, which has already experienced some significant victories this year. The rate cut is likely to renew interest in Bitcoin (BTC), which often influences the entire market as investors seek higher returns and move away from safer assets. BTC saw a 4.6% increase, trading at $62,991, while Ether rose by 6%. Meanwhile, Solana, another popular cryptocurrency, surged by 10%. September has seen a 6% increase in Bitcoin prices,…

MondaySep 23, 2024 9:00 am

Trump Unveils New Crypto Venture

Donald Trump recently revealed his family’s new crypto business, World Liberty Financial, during a live interview on X. While the Republican presidential candidate didn’t dive deep into the details, he did address an incident that occurred the previous day, which seemed to be an assassination attempt. Instead of elaborating on the goals or mechanics of World Liberty Financial, Trump shifted the conversation from crypto to topics such as artificial intelligence (AI). He also shared his account of the Sunday incident. According to Trump, while golfing with a friend, they heard four or five gunshots. He praised the swift actions of…

FridaySep 20, 2024 9:00 am

eToro-SEC Settlement to Make Platform Stop Most Crypto Trading

Retail trading company eToro has halted the majority of its crypto offerings in the United States as part of a settlement with the U.S. Securities Exchange Commission. This decision comes after the SEC raised concerns over eToro’s compliance with securities laws. As part of the agreement, eToro will pay a $1.5 million penalty to address accusations that it acted as an unregistered broker and clearing agency for crypto transactions. The regulator accused eToro of allowing its U.S. users to trade digital assets, which the agency considers to be securities, without meeting the necessary registration requirements under U.S. securities regulations. While…

WednesdaySep 18, 2024 9:00 am

Crypto Worth 5.6B Stolen from Americans in 2023, FBI Report Says

In 2023, crypto scams resulted in a staggering $5.6 billion in losses for people across the United States, with older adults bearing the brunt of these frauds, according to an FBI report. The report, released last week, highlighted that more than 69,000 individuals reported falling victim to scams involving digital currencies, often facilitated through easily accessible cryptocurrency ATMs. A significant portion of the complaints came from individuals aged 60 years of age and older. More than 16,000 complaints were filed by this group, reporting a combined loss of more than $1.6 billion — far surpassing any other age category. In…

MondaySep 16, 2024 9:00 am

Crypto Expert Calls for Congressional Action to Steer Industry Forward

For years, the U.S. financial markets have thrived as some of the most innovative globally, due in part to balanced and clear legal systems. These include regulations for capital markets, enforced by bodies such as the U.S. Securities and Exchange Commission (SEC). Historically, the SEC has enabled new financial innovations, including exchange-traded funds (ETFs), money market funds and equity-linked derivatives, by applying clear, well-defined rules. These regulations have allowed American capital markets to remain leaders in global financial innovation. However, crypto represents a significant departure from traditional assets. Most cryptocurrency tokens differ greatly from conventional securities, as they often don’t…

FridaySep 13, 2024 9:00 am

Binance on the Spot for Seizing Crypto Funds from Palestinians

Crypto exchange Binance has reportedly come under fire for allegedly freezing crypto from Palestinians at the behest of Israeli authorities. On Aug. 26, 2024, Ray Youssef, CEO of the Noones P2P network and cofounder of Paxful, stated on X (formerly Twitter) that Binance had frozen Palestinian funds after receiving a request from the Israeli Defense Forces (IDF). Youssef revealed that Binance had declined to restore the money and that the impacted Palestinians’ pleas had been turned down on all counts. He cited a letter from Israeli authorities as proof of what transpired. He also voiced worry that people in other…

WednesdaySep 11, 2024 9:00 am

Trump’s New Cryptocurrency Business Likely to Trigger Issues If He Wins

Donald Trump has made a bold pledge to position the United States as the leading hub for cryptocurrency if he is re-elected president. While this commitment could significantly benefit the country’s crypto landscape, it may also yield personal financial gains for Trump himself. Trump recently unveiled a new crypto-trading initiative, which he has been actively promoting through the same social media platforms used for his political efforts. His sons, Eric and Donald Jr., along with his daughter-in-law Lara Trump, are also endorsing the new platform, which they have named World Liberty Financial. The former president has a long-standing habit of…