Bloomberg Expert Says Ethereum ETF Approvals Are Overhyped Compared To Bitcoin

Bitkub, Thailand’s Biggest Cryptocurrency Exchange, Plans 2025 IPO on Home Turf

Bitkub Capital Group Holdings, the parent firm of Bitkub, Thailand’s largest cryptocurrency exchange, has unveiled plans to launch an initial public offering (IPO) in 2025, according to CEO Jirayut Srupsrisopa in a recent interview with Bloomberg.

Continue Reading...
Bitcoin ETF and chart

Bitcoin ETF Recovery Boosts Digital Asset Inflow To $862M

The recent rally in Bitcoin Exchange-Traded Funds (ETFs) has ignited a resurgence in the digital asset investment arena, instilling confidence within the crypto community. James Butterfill, CoinShares’ Head of Research, notes a significant milestone as Bitcoin ETFs attracted an impressive inflow of $862 million last week, marking a notable turnaround.

Continue Reading...
Binance banner and a gavel

Sam Bankman-Fried Incarcerated: Could Changpeng Zhao Follow Suit?

So, it has finally occurred. Sam Bankman-Fried, known by many as a dubious character, has been handed a prison sentence of 25 years. While some may argue it’s not enough, it’s a significant development nonetheless. The entire cryptocurrency community has been abuzz with a sense of relief and vindication over the past twenty-four hours. This event led me to ponder another figure in the crypto realm whom the U.S. legal system has its sights set on – Changpeng “CZ” Zhao.

Continue Reading...
SEC logo and several crypto coins

Judge Penalizes SEC for ‘Abuse of Power’ in Debt Box Crypto Firm Fallout

A federal judge has penalized the US Securities and Exchange Commission (SEC) for its handling of a complaint against Utah-based cryptocurrency business Debt Box. The lawsuit, which has become a lightning rod for the cryptocurrency sector, reveals the SEC’s aggressive enforcement techniques and raises concerns about the agency’s legal weapons.

Continue Reading...
Paolo Ardoino and Tether logo

Tether CEO Paolo Ardoino Criticizes Shorting USDt Amidst Court Filings Involving Digital Currency Group (DCG)

Tether CEO Paolo Ardoino criticized the practice of shorting USDt (Tether), highlighting its resilience amidst recent court filings involving Digital Currency Group (DCG). Ardoino’s comments come in response to revelations of DCG’s alleged attempts to short Tether and its failed merger pitch to Gemini, as detailed in court documents. The filings shed light on the complexities and challenges within the digital asset sector, raising questions about market integrity and participant accountability.

Continue Reading...
Tether Launches a Blockchain Recovery Tool As Stablecoin Circulation Hits a Record $100 Billion

Tether Launches a Blockchain Recovery Tool As Stablecoin Circulation Hits a Record $100 Billion

Tether Holdings’ USDT stablecoin has achieved a significant milestone, surpassing $100 billion in circulation, driven by increased demand for Bitcoin. Tether’s dominance in the stablecoin market is evident, with a 70% market share, while its closest competitor, Circle’s USDC, holds 19.4%. Despite its success, Tether has faced regulatory scrutiny regarding reserve transparency and corporate structure. To address concerns, Tether introduced a blockchain recovery plan, ensuring user security and fund protection in adverse scenarios. CEO Paolo Ardoino revealed plans to invest in Bitcoin mining operations, signaling Tether’s commitment to growth and innovation.

Continue Reading...
Coinbase banner glitch

Coinbase Users Experience Zero Balances Amid Bitcoin’s Surge Towards All-Time High

**Headline: Coinbase Users Experience Zero Balances Amid Bitcoin’s Surge Towards All-Time High**

Coinbase Global Inc., the largest cryptocurrency exchange in the United States, reported a second outage within a week, with some individual investors encountering zero balances in their accounts. This issue coincided with Bitcoin’s rally towards a new all-time high of nearly $69,000. Despite assurances from Coinbase that the glitch affected only a small subset of users and that their assets remained secure, concerns about account integrity and platform stability have arisen.

Coinbase users were met with unexpected account balance discrepancies as Bitcoin approached a new all-time high on Monday. The glitch, which marked the second outage within a week, left some individual investors seeing zero balances in their accounts. This incident follows last week’s errors in buying and selling on the platform, further raising concerns about Coinbase’s reliability during periods of heightened market activity.

Bitcoin, the world’s leading cryptocurrency, surged as much as 7.5% on Monday, inching closer to the psychological barrier of $69,000. However, the excitement of this milestone was dampened by reports of account balance discrepancies on Coinbase.

In response to inquiries about the issue, a spokesperson for Coinbase reassured users that only a small subset of accounts were affected and emphasized that the affected users’ assets remained safe. However, the recurrence of such incidents within a short timeframe has prompted scrutiny from regulators and industry observers.

The New York State Department of Financial Services (DFS) confirmed that it is monitoring the situation closely, highlighting the potential risks to consumers and institutions posed by disruptions on cryptocurrency exchanges. The DFS spokesperson underscored the importance of maintaining robust operational standards to safeguard user assets and uphold market integrity.

Coinbase, like other cryptocurrency exchanges, faces increased scrutiny and pressure to ensure platform stability and reliability, particularly during periods of heightened trading activity. As Bitcoin continues its upward trajectory, investors are increasingly reliant on exchanges like Coinbase to execute transactions seamlessly and securely.

The recurrence of account balance discrepancies on Coinbase underscores the challenges faced by cryptocurrency exchanges in maintaining operational stability during periods of intense market volatility. As Bitcoin approaches a new all-time high, concerns about platform reliability and user account security remain at the forefront of regulatory and industry scrutiny.

Coinbase, cryptocurrency exchange, Bitcoin, account balances, outage, market volatility, regulatory scrutiny, user security, operational stability.

Continue Reading...

South Korea Investigates Worldcoin Over Data Collection Concerns

A South Korean committee overseeing personal information matters has launched an investigation into Worldcoin over concerns regarding the collection and processing of sensitive data, including iris scanning. The probe, initiated by the Personal Information Protection Committee, follows complaints about the digital identity project’s handling of personal information.

Continue Reading...

US EIA Plans To Erase Bitcoin Mining Survey Data And Invites Public Feedback

The US Energy Information Administration (EIA) has nullified all data obtained from its emergency survey on Bitcoin mining, as per recent court filings. This decision, made in collaboration with the Texas Blockchain Council, extends to subsequent data collection and underscores ongoing legal battles concerning regulatory scrutiny within the cryptocurrency industry.

Continue Reading...
Nigerian flag and Binance logo

Binance CEO Summoned by Nigerian House of Representatives Over Terrorism Financing

The Financial Crimes Committee of Nigeria’s House of Representatives has taken a bold step by summoning Binance CEO Richard Teng to address allegations of terrorism financing and money laundering. According to reports from The Punch, the committee has issued an ultimatum, giving Teng seven days to appear before them on or before March 4, 2024. This move comes amidst concerns raised by the Central Bank of Nigeria regarding Binance’s involvement in illicit financial activities, including money laundering. Chairman Ginger Onwusibe emphasized the committee’s commitment to upholding Nigerian laws and protecting citizens from financial crimes perpetrated by both domestic and foreign entities.

Continue Reading...