Crypto News

Stablecoin Markets Shift With Binance Launching USDC Conversions

Stablecoin Markets Shift With Binance Launching USDC Conversions

Binance has begun the conversion of TrueUSD, Paxos’ Pax Dollar and Circle’s USDC holdings into its own stablecoin, Binance USD (BUSD) and the stablecoin markets are already feeling the impact of this move. Since Binance announced that it would no longer offer support for competing stablecoins on its platform, which is the largest exchange in the world in trading volume, the market cap of the USDC stablecoin has declined by 5%. Moreover, there has also been a rise of 93% in the outflows of the USDC stablecoin from the exchange, which means the number of stablecoins that have left the…
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California Cracks Down Against 11 Crypto Companies

California Cracks Down Against 11 Crypto Companies

A crackdown was launched by the Department of Financial Protection and Innovation (DFPI) in California against 11 crypto firms that are believed to be in violation of California’s securities laws. Reports indicate that nine of the companies had solicited funds from investors for trading cryptocurrencies on their behalf. One of the companies that have been accused had presented an alleged metaverse software development project, while another one advertised itself as a decentralized finance (DeFi) platform. Crypto companies The financial regulator in California has been targeting crypto companies operating in the state and on Tuesday, the DFPI cracked down on almost…
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More Trouble For Grayscale Investors As It Drops To All-Time Low

More Trouble For Grayscale Investors As It Drops To All-Time Low

It appears that Grayscale Bitcoin Trust (GBTC) has not managed to hit a bottom yet because last Friday saw the shares of the biggest Bitcoin fund in its history shed 35.18%. With shares of GBTC, investors are able to trade shares of trust that have accumulated bitcoin and every share tracks the price of the world’s top cryptocurrency. The aim is to provide traditional investors with crypto exposure without them having to actually buy and hold bitcoin on their own. The GBTC Since the trust was launched back in September 2013, it has been traded at a high premium historically…
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Following Ethereum Merge, GPU Prices In China Have Recorded A Major Dip

Following Ethereum Merge, GPU Prices In China Have Recorded A Major Dip

It has been less than 15 days since the Merge was implemented on the Ethereum blockchain. The upgrade reportedly moved the Ethereum blockchain consensus from proof-of-work (PoW) to proof-of-stake (PoS). Mining Rigs Rendered Useless As the consensus protocol changed entirely, the mining for Ethereum (ETH) has become rather useless. In the past, the prices of the cryptocurrency mining rigs including the GPUs used for providing the computational power were in high demand. Prior to the implementation, Ethereum was based on the proof-of-work consensus. This meant that the adoption driving mechanism for ETH was mining it, increasing its computational power, and…
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Crypto Is Losing Demand As A Payment Method, Claims JPMorgan

Crypto Is Losing Demand As A Payment Method, Claims JPMorgan

JPMorgan has recently made a statement claiming that the demand for cryptocurrencies has been falling as a payment method/tool. Crypto Losing Traction as a Payment Method The investment division of JPMorgan, one of the largest payments entities in the entire world has made a claim about cryptocurrencies. Takis Georgakopoulos from the investment banking division of JPMorgan has claimed that they are seeing a constant demise in demand for cryptocurrencies as a payment method. It was during an interview that Georgakopoulos made the claim suggesting that the cryptocurrencies no longer have the same popularity they had until late 2021. Statement by…
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Federal Police Of Brazil Has Launched An Operation Against Money Laundering Operations

Federal Police Of Brazil Has Launched An Operation Against Money Laundering Operations

The Federal Police of Brazil made an announcement on September 22nd in regard to launching an operation against money laundering activities. The Brazilian Police will not be carrying out the operation on its own as it will be supported by the tax authority of Brazil. Operation Colossus The authorities have announced that they have just launched the final stage of their operation against the money laundering activities involving cryptocurrencies. The particular project they had been working on for years has been dubbed “Operation Colossus”. As the authorities now claim they are close to shutting the case for good, they have…
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Israeli Regulator Grants License To Digital Asset Exchange Platform

Israeli Regulator Grants License To Digital Asset Exchange Platform

The ISACA (Insurance & Savings Capital Market Authority), which is the capital markets regulator in Israel, recently granted a license to Bits of Gold. The company received a license to operate as a crypto services provider, which is the first of its kind to be issued in the country. With this license, the company will be able to offer crypto custodian services and will also be responsible for the safekeeping of funds that are deposited by its retail clients. Law amendment The fact that the ISACA has granted this license to Bits of Gold is a first in Israel because…
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With Dogecoin’s Recent Rally, Investors Want To See Other Meme Coins Experience Surges

With Dogecoin’s Recent Rally, Investors Want To See Other Meme Coins Experience Surges

In the past 24 hours, Dogecoin’s price has experienced an uptrend. As a result, the trading price of Dogecoin (DOGE) has recorded a significant surge. Dogecoin’s Price Surge The data from CoinGecko shows that the trading price of the largest meme coin experienced a huge push in the past 24 hours. The trading value of DOGE recorded a 10% surge in the past 24 hours. Following the surge, the trading price of DOGE has moved all the way up to $0.068 per DOGE. In a 24-hour window, the bulls demonstrated a great ambition for acquiring DOGE. The bulls continued increasing…
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