[ad_1] Binance’s stablecoins are halted, OpenSea moves to zero fees and guess which A-lister just came out in support of cryptos. These stories and more this week in crypto. BUSD Minting Halted due to Regulators New York state regulators have ordered Paxos, the company behind Binance’s dollar-pegged stablecoin BUSD, to stop issuing any more of the coin. The regulator explained that the order comes as a result of several unresolved issues related to Paxos’ oversight of its relationship with Binance. BUSD is the world’s third largest stablecoin, backed by $16 billion in assets. OpenSea NFT Marketplace Goes Zero Fees The…
Author: Robert McCracken
[ad_1] Coinbase launches a new blockchain, the IMF sends mixed signals on cryptos, and watch out for fake ChatGPT tokens. These stories and more this week in crypto. Coinbase Launches a Layer-2 Blockchain Crypto exchange Coinbase launched an Ethereum layer-2 network called Base, built with the help of Optimism. The testnet of Base will not be limited to Ethereum, but will also provide access to other networks such as Optimism and Solana. The aim of the project is to offer a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps. IMF on Crypto: Blessing or a Curse? The…
[ad_1] A crypto bank’s troubles drive the market lower, Coinbase suspends trading of a major stablecoin, and a new survey shows how Americans really feel about the traditional financial system. These stories and more this week in crypto. Cryptos Drop 5% Over Silvergate Concerns Shares of Silvergate Capital dropped over 50% after the crypto bank delayed the filing of its annual report saying it needed more time to complete certain audit procedures. The announcement raised questions about Silvergate’s ability to remain solvent, leading to a price drop for all of the leading cryptocurrencies. Coinbase to Suspend BUSD Listing Coinbase will…
[ad_1] The crypto market goes haywire following a bank collapse, causing USDC to depeg from the dollar and raising concerns over the whole sector’s future. Will crypto survive the domino effect? These stories and more this week in crypto. Bitcoin Drops Below $20,000, Billions Wiped Out Bitcoin’s price fell below $20,000, marking a two-month low, as $70 billion was wiped off the broader crypto market in a matter of 24 hours. The sell-off came with the wider downward movement of US tech stocks after crypto-linked Silicon Valley Bank was shut down by regulators, causing a ripple effect throughout the markets.…
[ad_1] Binance converts $1Bn to crypto, Ethereum’s next upgrade finally gets a target date, and a crypto wallet in the Microsoft Edge web browser? These stories and more this week in crypto. Bitcoin’s Best Week Since Early 2021 Bitcoin experienced its best week since January 2021, recovering all of its 2022 losses. The price swell has been driven by the Federal Reserve’s injection of $300 billion into the banking system. In addition, China also added liquidity by lowering its reserve ratio for banks, which contributed to the recent rally in the market. Binance Converts BUSD to Native Crypto With increasing…
[ad_1] Bitcoin holds strong in the midst of the banking crisis, trading on Binance was down for two hours and a new token sees $2 billion in volume on its very first day. These stories and more this week in crypto. Bitcoin is Becoming a Stable Alternative Bitcoin is suddenly looking like a safe haven as the traditional world of stocks, bonds and banks are in crisis. The infamously volatile cryptocurrency seems solid as a banking meltdown is driving long established markets downward. Bitcoin is up 20% since the beginning of this month, more than doubling the gains of traditional…
[ad_1] Binance faces accusations, the U.S. government sells Bitcoins seized from Silk Road, and the EU is limiting anonymous crypto wallets. These stories and more, this week in crypto. Binance Accused of Breaking US Financial Laws The U.S. regulator, CTFC, brought a lawsuit accusing Binance of building its US business without registering properly with authorities, alleging that the firm has been operating illegally in the country. Binance’s CEO, Changpeng Zhao, has come back with a strong and comprehensive response to the lawsuit, describing it as “unexpected” and “disappointing”. U.S. Government Confirms Selling Seized Bitcoin A court filing shows the U.S.…
[ad_1] Elon Musk shows off with Twitterdoge, for years every Mac has had a hidden Bitcoin reference and guess how many people pay taxes on crypto? These stories and more, this week in crypto. Elon Musk Changes Twitter’s Logo to Doge Elon Musk changed Twitter’s logo to the dogecoin logo image of a Shiba Inu, causing the memecoin’s price to jump 20% in a day. The doge logo appeared on Twitter two days after Musk asked a judge to throw out a lawsuit accusing him of a dogecoin pyramid scheme. Every Mac has Bitcoin’s White Paper Hidden A technologist accidentally…
[ad_1] All eyes are on Binance, MetaMask partners with PayPal, and major investment banks now have a shocking view on the future of cryptos. These stories and more this week in crypto. Binance Temporarily Halts USDC Withdrawals The world’s largest exchange, Binance, was quick to reassure its customers after temporarily halting withdrawals of the stablecoin USDC while it carried out a token swap. CEO, Changpeng Zhao indicated that the 8-hour delay was due to the fact that the New York based bank it needed to route the swaps through hadn’t yet opened for the day. Binance confirmed that withdrawals were…
[ad_1] Goldman Sachs sees opportunities in the crypto bear market, the SEC sets new guidelines for companies with crypto exposure and Coinbase encourages its users to make the switch from USDT to USDC. These stories and more this week in crypto. Goldman Sachs Buys Into Crypto Businesses In the wake of the crash of FTX, Goldman Sachs sees opportunities in the cryptocurrency market. The investment giant has plans to spend tens of millions of dollars to acquire or invest in cryptocurrency organizations. The company said that some valuations are now much more reasonable and that the involvement of trustworthy regulated…