Why Is The Market Down Today?

Wang Hongwei Criticizes Binance as "International Fraud Syndicate," Urges Ministry of Justice to Cease Cooperation; Binance Clarifies: "Never Penalized for Fraud"

KMT legislator Wang Hongwei raised concerns during a Legislative Yuan session about the Ministry of Justice's cooperation with Binance, the world's largest cryptocurrency exchange. She accused Binance of being notorious for money laundering and international crime, calling for an end to the partnership. In response, Binance emphasized that it has never been penalized for fraud and actively collaborates with global law enforcement agencies.

WeiliangJun 13, 2024 11:23 siang

Terraform Labs & Do Kwon’s $4.47B SEC Settlement Sparks Criticism, Higher than CZ’s $4.32B Penalty: Will Victims See Relief?

Terraform Labs has agreed to a $4.47 billion settlement with the SEC. However, the funds will go to the SEC, not the affected individuals, sparking public outcry from the crypto community and industry leaders.

KikyoJun 13, 2024 1:08 siang

TapSwap's Disassociation from Solana Raises More Red Flags About Its Legitimacy

TapSwap, a popular crypto mining game on Telegram, faces credibility concerns due to abrupt changes like removing Solana branding and introducing questionable tasks redirecting to unrelated Telegram channels. These issues, combined with technical glitches and unclear blockchain plans, have sparked skepticism about TapSwap's legitimacy among users and analysts alike.

AnaisJun 13, 2024 2:22 siang

UK's Healthcare Chief Sounds Alarm on Crypto Trading Addiction Epidemic as it Becomes a Public Health Concern

The UK’s NHS Chief is urging lawmakers to act against rising crypto trading addiction among young people, responding to an increase in those seeking help for addiction to the volatile digital currency market.

CatherineJun 13, 2024 5:42 sore

Biden Under Fire for Embracing Crypto Donations; A Reversal of Policy or Election Strategy?

President Biden's campaign is exploring crypto donations via Coinbase Commerce, aiming to engage tech-savvy voters amid criticisms of inconsistency in his crypto stance. This move contrasts with past regulatory actions and signals a strategic shift ahead of a competitive election.

JoyJun 13, 2024 6:10 sore

MicroStrategy Announces an Additional $500 Million Bitcoin Purchase, but Stock Price Plummets Nearly 8%: Has BTC's Pulling Power Failed?

MicroStrategy, a major Bitcoin holder among publicly traded companies in the U.S., announced yesterday (13th) its plan to issue $500 million worth of convertible senior notes to qualified institutional investors and use the proceeds to buy more Bitcoin. However, the stock price fell instead of rising.

AlexJun 14, 2024 10:43 pagi

Here It Comes! Gary Gensler: Ethereum Spot ETF's S-1 Filing to Be Approved This Summer, Bloomberg Analysts' Views

Market sources reveal that Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), expects the S-1 registration statement for the Ethereum spot ETF to be approved sometime this summer.

MiyukiJun 14, 2024 10:47 pagi

Crypto Will Replace US Dollar Dominance as Petrodollar Era Ends – Why?

The decision by Saudi Arabia to end the petrodollar agreement marks a significant shift away from the US dollar's long-standing dominance in global trade, potentially paving the way for alternative currencies like the BRICS stablecoin to reshape international finance.

AnaisJun 14, 2024 1:31 siang

Future of Dedollarisation: BIS' CBDC Project mBridge Gains Traction with Petrodollar’s “Death”, Will US Economy Crumble?

The financial world faces potential upheaval as Saudi Arabia ends its 50-year petrodollar deal with the US. Instead, Saudi Arabia's central bank has joined BIS’s CBDC Project mBridge. As power becomes more equitably distributed globally, is the US facing an imminent economic downfall?

CatherineJun 14, 2024 2:18 siang

Spot Ether ETF Full Approval Anticipated by Summer Says Gensler, Crypto Market Stays Sluggish Despite Good News

SEC Chair Gary Gensler announced that Ethereum ETFs should be approved by summer’s end but did not clarify its classification as a security or commodity. But this “good” news had little impact on the sluggish crypto market.

KikyoJun 14, 2024 5:19 sore