Bitcoin flounders as Binance and Coinbase sued by US regulator
Written by on August 7, 2023
After surprise rate hikes in Australia and Canada, and as the Federal Reserve forecasts two more hikes, investors are now betting that interest rates will remain higher for longer.
“We wish to see from regulators a bit more proactive guidance and legislation rather than regulation by enforcement,” said Paolo Ardoino, chief technology officer at Bitfinex, a cryptocurrency trading company that was fined by another US regulator, the CFTC, in 2021.
“Cases lodged by regulators are likely to ramp up uncertainty and confusion about crypto as they drag through US courts,” lamented Scott Freeman, co-founder and partner at JST Capital, which specializes in crypto.
The decision and the RBA’s hawkish policy statement had sent the Aussie rising 0.8% in the previous session, with governor Philip Lowe warning of learn more tightening on the cards because inflation was still too high.
You should be careful when you connect your wallets to the websites.
They can be malicious, and you can lose your funds. Hot wallets are the ones that are online. You do not need any device to have a hot wallet. Metamask, Trust Wallet, Binance wallet are some of them. There are two types of wallets hot and cold wallets.
“This is why we are turning to the authorities in charge of protecting consumers to ensure Instagram, YouTube, TikTok and Twitter fulfil their duty to protect consumers against crypto scams and false promises,” she said.
“The index sends another signal that demand is cooling and that the cumulative tightening is working through the economy, giving room to the Fed to pause in June to assess conditions further,” Saxo Markets strategists said in a note to clients.
June 15 (Reuters) – BlackRock is close to filing an application for a bitcoin exchange-traded fund (ETF), CoinDesk reported on Thursday, citing a person familiar with the matter.
It’s big. Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData.
LONDON, June 30 (Reuters) – The first six months of 2023 have been eventful for financial markets – from an artificial intelligence (AI) inspired tech stock surge, commodity market capitulations, cryptocurrency comebacks to the worst banking crash since Lehman Brothers.
Societe Generale’s crypto unit, Forge, is licensed as of Tuesday to offer services, including crypto custody, trading and sales, according to the website of France’s AMF market regulator.
The news was first reported by crypto outlet CoinDesk.
Leading crypto asset bitcoin briefly dipped before recovering to trade 0.3% firmer at $26,601 after crypto exchange Binance said it was suspending dollar deposits and would soon pause fiat currency withdrawal channels following a U.S.
Securities and Exchange Commission crackdown.
on alleged violations of securities laws.
Earlier this month, the U.S. Securities and Exchange Commission (SEC) sued major crypto exchanges including Coinbase and Binance.
Data on Friday showed U.S.
non-farm payrolls rose by 339,000 in May, but a surge in the unemployment rate to a seven-month high of 3.7% suggested an easing in labour market conditions.
GameFi stakeholders are already investigating a few further uses.
The Future of GameFi
Due of how quickly this market is developing, new models and variations of existing models will unavoidably appear in the near future.
According to data firm Nansen, Binance saw net outflows of $778.6 million of crypto tokens and Binance.US registered net outflows of $13 million in the 24 hours since the news of the lawsuit broke.
What happened following the Binance news?
services sector barely grew in May has left markets pricing in an 82% chance of the Fed taking a pause in its rapid hiking cycle, a sharp jump from a 36% chance a week earlier, according to the CME FedWatch tool. Data on Monday showing the U.S.
The Federal Open Market Committee (FOMC) sets policy on June 14, and markets are now pricing in a 75% chance of the Fed standing still, a sharp jump from a 36% chance a week earlier, according to CME FedWatch tool.
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On Monday, the US Securities and Exchange Commission (SEC) sued Binance, its chief executive Changpeng Zhao and the operator of US affiliate Binance.US over a ‘web of deception’ to evade US securities laws.
