Crypto payment platform Wyre modified its withdrawal policy to limit users from cashing out up to 90% of their assets just days after two former employees allegedly hinted the possibility of a shutdown. On Jan. 7, 2023, Wyre imposed a withdrawal limit on its platform, citing “the best interest of our community.” Following the policy …
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Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-year partnership deals with Velas Blockchain and chip manufacturing giant Snapdragon, resulting in a cumulative $55 million loss for the Italian team ahead of the 2023 season. …
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The U.S. Department of Justice (DOJ) has asked victims of former FTX CEO Sam Bankman-Fried (SBF)’s fraud to come forward. The former FTX executive has been charged with “defrauding customers of FTX.com, investors in FTX.com, and lenders to Alameda Research,” the Justice Department noted. DOJ Urges Victims of SBF Fraud to Come Forward The U.S. …
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Mark Cuban, a Shark Tank star and the owner of the NBA team Dallas Mavericks, has warned that the next crypto implosion could come from “the discovery and removal of wash trades” on centralized exchanges. The billionaire’s comments followed the collapse of crypto exchange FTX which wiped out billions of dollars of customer funds. Mark …
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Former Federal Reserve Chairman Alan Greenspan says crypto is “too dependent on the ‘greater fool theory’ to be a desirable investment.” However, he noted that the collapse of crypto exchange FTX was “purely fraud,” rather than the result of a feature inherent to crypto. He does not expect the FTX contagion to spread far beyond …
The year 2022 saw the value of Polygon’s native token MATIC drop by 64%. But the network started this year on a positive note, with the price shooting up 8% according to the charts. However, can MATIC maintain this momentum? On-Chain Developments To Play A Big Role For MATIC The Layer 2 ecosystem has been …
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Polkadot (DOT) is riding a solid bullish momentum that enabled it to stay in the green for the past 24 hours and maintain significant gains in the last seven days. According to tracking from Coingecko, at the time of writing, DOT is changing hands at $4.69, tallying a weekly hike of 10%. Moreover, the 13th …
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Ripple has been locked in a bitter court battle with the U.S. Securities and Exchange Commission regarding whether XRP should be classified as a security or not. Ripple’s CEO, Brad Garlinghouse, recently tweeted about him being optimistic but cautious of what 2023 brings in terms of regulations. Because of this, XRP has been trading sideways, …
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Crypto analytics platform Santiment is revealing that the gains made by Bitcoin (BTC) whales after the end of the bull run last year were not cashed out into fiat currencies. Santiment says that as the bull market ended in 2021, Bitcoin whales converted their profits into stablecoins. According to the analytics platform, the number of …
Bankrupt crypto exchange FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters. As per the filing, U.S. Trustee Andrew Vara called for an independent investigation before any sale, claiming that valuable information related to the exchange’s bankruptcy could …
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Exploring the Challenges and Opportunities of the Decentralized Finance (DeFi) Industry with Emile from XDEFI 24 min watch Updated: January 7, 2023 at 7:19 pm [embedded content] The podcast discusses the decentralized finance (DeFi) industry and its relationship with the centralized finance (CeFi) industry. The guest, Emile from XDEFI, mentions that the market has been …
CryptoSlate’s Akiba interviews Lachlan from Laybrys to discuss the ethical implications and potential consequences of censorship on the Ethereum network, including the role of Validators, OFAC sanctions, and the decentralized nature of Ethereum. 59 min watch Updated: January 7, 2023 at 7:29 pm [embedded content] In this episode of the SlateCast, CryptoSlate’s Akiba spoke to …
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The host of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of crypto firms that are not compliant with regulation. Expecting the SEC “to sweep everything,” Cramer urges investors to “get out” of crypto now. Jim Cramer’s Latest Crypto Warnings The host of CNBC’s Mad …
Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that have affected the company. On …
During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan on foreign exchange markets. Roughly around the same …
