Category: Ethereum

After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99 million were withdrawn over the past day, according to Coinglass metrics. 3,655 Bitcoin Withdrawn From Binance in 24 Hours On Monday, March 27, 2023, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance and CEO Changpeng Zhao (CZ), alleging the…

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PRESS RELEASE. Every year, natural disasters like earthquakes, hurricanes, and floods hit countries around the world, severely damaging local infrastructure and homes and causing casualties. Individuals and communities in the catastrophe-hit areas suffer a heavy loss and need help from the outside badly. For years, numerous public welfare organizations and charitable groups have been actively providing relief and assistance to those affected by disasters worldwide, and among such contributors is CoinEx Charity. Having been committed to disaster relief programs for over a year, CoinEx Charity has joined the global efforts…

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Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained. Ethereum’s Co-Founder on Crypto Ecosystem, Regulation Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday. “The strength of our…

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Market strategist Jeremy Grantham, co-founder of asset management firm GMO, has warned of “super bubbles” bursting. He explained that the Federal Reserve has “created an environment conducive to a chain-linked series of super bubbles that break with outrageously consequential, painful effects.” Jeremy Grantham’s Warnings Investment strategist Jeremy Grantham shared his U.S. economic outlook with economist David Rosenberg during a Rosenberg Research webcast, published on March 16. Grantham is a co-founder and chief investment strategist of asset management firm GMO. He has been an investment strategist for over 40 years and…

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The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of their tightening.” Bull Cycle for Gold and Bitcoin Jan van Eck, CEO of investment management firm Vaneck, shared his prediction regarding gold and bitcoin in an interview with CNBC last week. His firm has $69…

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Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. As the hashrate continues to climb, research analyst Sam Wouters at River Financial estimates that at the current growth rate, Bitcoin could reach the zettahash era “by the end of 2025.” Reasons for the Increase…

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According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley Bank Purchased by First Citizens in FDIC-Mediated Deal The FDIC has announced that First Citizens Bank has taken over Silicon Valley Bank (SVB) following the acquisition of Signature Bank by Flagstar seven days prior. According…

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After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth asserts that the banking industry is facing problems that “nobody wants to call a banking crisis.” Ignoring the U.S. Bank Crisis There have been numerous opinions and statements from financial experts and officials following the…

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The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim, for allegedly aiding and abetting Binance’s violations. CFTC Charges Binance with Willful Evasion of Federal Law; CEO Changpeng Zhao Named in Lawsuit The CFTC has charged Binance with willful evasion of federal law as the…

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Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week. XRP XRP, formerly ripple, rose for a third consecutive session on Monday, as prices neared a five-month high. Following a low of 0.4438 on Sunday, XRP/USD raced to an intraday high of $0.4877 earlier in today’s session. As a result of…

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