The once-prominent cryptocurrency exchange, Binance.US, has experienced a significant decline in its weekly trade volume, dropping from nearly $5 billion to a mere $40 million, according to crypto data firm Kaiko. This precipitous decrease can be attributed in part to the legal troubles faced by the exchange, particularly the charges filed against it by the
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The crypto market has experienced a significant decline in exchange-traded products (ETPs) over the past nine weeks, as reported by asset manager CoinShares. This downward trend reflects negative sentiment towards cryptocurrencies, impacting both Bitcoin (BTC) and Ethereum (ETH) funds. ETPs are designed to track crypto prices and serve as an accessible investment avenue for traditional
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The recent lawsuit launched by the Securities and Exchange Commission (SEC) against Binance.US, the US entity of the leading cryptocurrency exchange Binance, has sent shockwaves through the crypto industry. Similar to the well-known Ripple case, the legal proceedings are becoming increasingly complex and uncertain. One of the latest issues stemming from the courtroom is a
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Today, all eyes are on the hearing between the United States Securities and Exchange Commission (SEC) and Binance, which holds significant implications for the cryptocurrency exchange. The SEC has accused Binance of failing to provide adequate documentation for the case, despite a prior agreement for expedited discovery. BAM, the organization responsible for Binance’s US branch,
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NFL quarterback Trevor Lawrence, alongside popular YouTube influencers Kevin Paffrath and Tom Nash, has reached a settlement in a lawsuit surrounding their endorsement of the now-defunct FTX cryptocurrency exchange. According to a court filing, the terms of the settlement remain undisclosed. This agreement marks the first resolution among the numerous celebrities and companies accused of
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Binance CEO Changpeng ‘CZ’ Zhao has addressed the rumors surrounding the departure of Binance.US CEO Brian Schoder, emphasizing the need for new leadership in light of the current regulatory challenges faced by the exchange. According to CZ, the regulatory landscape in the United States is rapidly evolving and becoming increasingly hostile towards the cryptocurrency industry.
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Since the Merge, Ethereum has undergone significant changes, starting with the implementation of the London hard fork. One key development introduced by this upgrade is the fee-burning mechanism. Under this mechanism, transaction base fees are burned immediately after a transaction is processed. This move was aimed at making Ether deflationary, as it permanently removes some
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Ripple, one of the prominent players in the cryptocurrency industry, has been facing numerous challenges in recent times. The company’s troubles began when the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs in 2020. The lawsuit alleged that Ripple Labs had conducted an unregistered sale of securities worth over a
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The rise of blockchain technology and artificial intelligence (AI) has paved the way for a captivating fusion – AI crypto projects. These innovative platforms combine the transparency of blockchain with the predictive capabilities of AI, creating robust and tokenized ecosystems. In this article, we will delve into three prominent examples – Akash Network, Numeraire, and
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