In a recent announcement, Binance, the leading cryptocurrency exchange in terms of trading volume, revealed that it successfully prevented over $2.4 billion in potential user losses from scams and frauds in the first seven months of 2024. The exchange reported that a significant portion of these averted losses, approximately $1.1 billion, were related to withdrawals
Regulation
The legal saga of Shaquille O’Neal and the Astrals NFT project has taken an intriguing turn as a class action lawsuit unfolds. The lawsuit accuses Astrals of promoting unregistered securities, sparking a heated legal battle that has captured the attention of the NFT community. O’Neal’s Role in the Project Judge Federico Moreno of the U.S.
The Democratic National Committee recently released its 2024 Party Platform, outlining their upcoming political priorities for the next election. Surprisingly, the platform made no mention of Bitcoin, crypto, or blockchain, leaving many in the industry concerned about the party’s stance on digital assets. Instead, the focus was on issues like lowering housing costs, tackling climate
The Nigerian Federal Inland Revenue Service (FIRS) is set to implement new legislation aimed at taxing the rapidly growing crypto sector in the country. This decision was revealed by FIRS Executive Chairman Zacch Adedeji during a meeting with the National Assembly’s Finance Committees. The primary objective of this new regulation is to stimulate economic growth
Hut 8 Corp., a prominent Bitcoin mining company in North America, recently disclosed its financial results for the second quarter ending June 30, 2024. Despite recording a significant year-over-year revenue increase of 72% to $35.2 million, the company reported a net loss of $71.9 million. This loss was primarily attributed to a $71.8 million loss
Cryptocurrency journalism is a niche field that requires a deep understanding of the complexities and intricacies of blockchain technology. Semilore Faleti, a dedicated cryptocurrency writer, has proven himself to be a valuable asset in this fast-paced industry. With a keen focus on educating and informing his audience, Semilore has established himself as a trusted source
Bitcoin took a hit on Wednesday, dropping 2.5% to $59,100 following the news that the U.S. government had shifted more of its Silk Road-related Bitcoin holdings to Coinbase Prime. The on-chain analysis platform, Arkham Intelligence, highlighted the transfer by revealing that 10,000 BTC valued at $593 million had been moved. This move raises questions about
Last night at a Crypto4Harris event, Senate Majority Leader Chuck Schumer and other prominent Democrats came together to express their strong support for crypto regulation. They emphasized the crucial need for regulatory clarity in shaping the future of the industry. Schumer highlighted the responsibility of Congress to enact common-sense regulations for crypto, with the goal
In a recent court filing on August 12, a US appeals court made a significant decision to partially overturn the dismissal of a class-action lawsuit against Binance.US, the US subsidiary of the global Binance exchange. The plaintiff, Ryan Cox, had brought forward allegations against both Binance.US and CoinMarketCap regarding the manipulation of the price of
As the cryptocurrency industry continues to grow and evolve, there is a pressing need for clear and concise regulations to guide companies in the space. Pro-Bitcoin Democrat House Representative and lawyer Ro Khanna recently expressed his expectations for the Biden administration to release a crypto regulation roadmap in the coming weeks. These expectations stem from