On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long liquidations on…
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Three US senators have asked Binance and its US partner Binance.US to provide detailed information regarding their business operations amid accusations of illegal practices. In a letter dated Wednesday, Senators Elizabeth Warren (D-Mass.), Chris Van Hollen (D-Md.), and Roger Marshall (R-Kansas) asked Binance “to provide transparency about potentially illegal business practice,” while accusing the exchange of being…
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Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and answers pertaining to “potentially illegal business practices.” The lawmakers told Binance CEO Changpeng Zhao (CZ): “Your actions have called into question the legitimacy of your business and the safety of your customers’ assets.” U.S. Lawmakers Probe Binance U.S. Senators Elizabeth Warren…
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In the limited beta, Bicasso was taking user-submitted profile pictures and turning them into a work of digital art in seconds. Binance’s newly launched artificial intelligence-powered nonfungible token (NFT) generator has been churning out digital art at full capacity, reaching a cap of 10,000 NFT mints in just 2.5 hours after launch. On Mar. 1,…
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On Wednesday, Binance CEO Changpeng Zhao, also known as CZ, announced the launch of a new non-fungible token (NFT) platform infused with artificial intelligence (AI). The AI-centric product is named Bicasso, and CZ said the beta version dropped today and was limited to 10,000 mints. Combining AI and NFTs: Binance CEO Announces Bicasso Artificial intelligence…
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On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the recent concerns surrounding Binance and why Solana went down yet again. This week on The Market Report, the resident experts at Cointelegraph discuss the recent fear, uncertainty and doubt (FUD) around the popular cryptocurrency exchange Binance and what the CEO of Solana…
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Ledger has released hardware support for the Trust Wallet Browser Extension, a multi-chain crypto wallet that acts as a gateway to thousands of Web3 decentralized applications (dApps). A hardware wallet securely keeps a crypto user’s private keys offline, bringing an additional layer of security. With this latest update, Trust Wallet users can leverage the functionality…
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Coinbase remains a leader in lobbying expenditure for the sixth year, but Binance.US is accelerating its efforts. The crypto industry has been raising its lobbying efforts amid the crypto winter that began last year. In 2022, market participants spent $25.57 million on lobbying in the United States. This number appears in a study published by the…
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A new report claims Binance commingled different investors’ funds last year in a move “eerily” similar to actions by now-defunct cryptocurrency exchange FTX. The world’s largest crypto exchange moved $1.8 billion of collateral set to back its customers’ stablecoins late last year, putting the assets to other undisclosed uses, Forbes reported Monday, noting that the practice was…
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Cryptocurrency exchange Coinbase announced it will suspend trading and delist the Paxos-managed stablecoin asset BUSD. The decision follows Paxos’ revelation that the New York State Department of Financial Services directed the firm to stop issuing the U.S. dollar-pegged token BUSD. Coinbase to Suspend BUSD Stablecoin on March 13 On Feb. 27, 2023, Coinbase announced that…
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