Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. The death spiral of the Terra ecosystem served as a catalyst to the 2022 bear market — causing losses in the billions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging of…
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On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity during the early morning (ET)…
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Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation. Binance Prohibits US Dollar and Euro Transactions for Russians on Its P2P Market The world’s largest crypto…
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Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have been blocked during the ongoing investigation. Digital Asset Exchange Making Millions in Turnover Closed Down in Kazakhstan A platform illegally trading cryptocurrencies in Kazakhstan, ABS…
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The United States Department of Justice filed an appeal against the approval by a New York judge allowing a billion-dollar sale of assets from Voyager Digital to Binance.US. The United States Department of Justice (DOJ) has filed an appeal against the latest decision in the case for the selling of assets between Voyager Digital and…
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Binance has expanded its Proof-of-Reserve (PoR) report to include 11 more tokens, bringing the overall amount of funds verifiable via the exchange’s PoR system to over $63 billion. In a new blog post, the world’s largest crypto exchange revealed that it had added MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE to…
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Voyager Digital, the bankrupt crypto lender, has been given the green light to sell its assets to Binance.US and transfer its customers to the exchange. At a hearing in New York, US Bankruptcy Judge Michael Wiles approved Voyager’s restructuring plan, thus allowing it to sell its assets to Binance.US in a deal valued at $1.3…
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The ruling allows the crypto lender a path out of its bankruptcy, but it still has to undertake some due diligence with Binance US before the sale is final. Bankrupt cryptocurrency lender Voyager Digital has won court approval to sell over $1 billion of its assets to Binance.US. The approval was granted by United States…
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BTC’s $1,420 decline in the span of 1-hour negatively impacted demand for stablecoins in Asia and it shifted futures traders into a more defensive attitude. Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank’s 57.7% stock crash which was due to significant losses and “suboptimal capitalization.” The U.S. fintech-friendly bank was…
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Binance and its US-based counterpart, Binance.US, which were presented as distinct entities, are said to have been more closely connected than what was previously revealed, purportedly entangling personnel, technical teams, and finances…. Read More: Binance’s Secret Plot: Leaked Texts Reveal Plans to Evade U.S. Law Enforcement – What’s Going On? Read more »Sign up for…
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