The First Digital USD (FDUSD) stablecoin has overtaken Circle-issued USD Coin (USDC) as the second-most popular pair for Bitcoin during the last five months, thanks to the zero-trading fee program on Binance. CCData’s latest stablecoin report revealed a significant uptick in FDUSD’s trading volume on centralized exchanges — primarily Binance — which has taken its …
Monthly archives: February 2024
Nigerian Users Criticize Binance for Imposing Exchange Rate Caps on USDT to Naira Transactions
Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto exchange’s decision to block or remove traders quoting USDT to naira exchange rates exceeding NGN1,802. Binance says it has the right to remove “users behaving in a malicious or manipulative way.” The Nigerian Currency’s Woes Some Nigerian users of Binance’s peer-to-peer (P2P) platform have …
Wormhole and AMD Forge Alliance to Revolutionize Blockchain Interoperability
On Wednesday, the blockchain interoperability platform Wormhole revealed it is collaborating with the American multinational semiconductor company AMD (Advanced Micro Devices). Wormhole plans to utilize AMD’s Field Programmable Gate Array (FPGA) technology in order to bolster cross-chain communication and multi-chain scalability. AMD’s FPGA Tech to Power Wormhole’s Interoperability Ambitions Wormhole, an interoperability platform for blockchains, …
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Crypto Markets Experience Minor Setback as Major Coins Dip, While Select Tokens Buck the Trend
On Wednesday, the crypto market experienced a modest downturn, with a 1% decrease in its overall value across the board, as bitcoin and ethereum saw declines of 0.51% and 0.45%, respectively. Bitcoin momentarily reached the $53,000 mark the day prior, while ether soared past the $3,000 threshold on Tuesday, though both cryptocurrencies traded significantly lower …
Do Kwon’s Fate Sealed — Montenegro High Court Opts for US Extradition in Legal Tug-of-War
In a landmark decision, the High Court in Podgorica has ruled that the former Terraform Labs CEO, Do Kwon, will be extradited to the United States, sidelining South Korea’s request for his extradition. The court’s ruling comes after extensive deliberations on the legal and political implications of the extradition. Report Details Do Kwon’s U.S. Extradition …
‘We Have a Long Way’ To Go Before Bitcoin Reaches Its Cyclical Top, According to CryptoQuant CEO – Here’s Why
One Bitcoin metric indicates there’s still a “long way to go” before BTC hits its cyclical top, according to the co-founder and chief executive of analytics platform CryptoQuant. Ki Young Ju notes that 63% of Bitcoin’s realized cap hasn’t moved in more than six months. Realized cap is an on-chain metric that attempts to provide …
$150,000 Bitcoin Price Target on the Table for This Year, According to Fundstrat’s Tom Lee – Here’s Why
Fundstrat CEO Tom Lee says a myriad of positive catalysts are setting up to most likely push Bitcoin to much higher prices by the end of 2024. In a new interview on CNBC, Lee says that looser monetary policy, the Bitcoin halving and the increased demand stemming from the new spot BTC exchange-traded funds (ETFs) …
UK Pushing To Regulate Stablecoins and Crypto Staking Within Six Months, Says Treasury Minister: Report
Plans for new rules and regulations for stablecoins and cryptocurrency staking in the United Kingdom (UK) are in the pipeline, according to a Bloomberg report. The report quotes the Economic Secretary to the Treasury Bim Afolami as saying at an event organized by Coinbase crypto exchange in London that the UK government was “pushing very …
US Government Sanctions Two Russian Nationals’ Crypto Wallets Related to Ransomeware Group LockBit
The US government is sanctioning the crypto wallets believed to belong to two Russian nationals linked to the ransomware group LockBit. In a statement, the Treasury Department’s Office of Foreign Assets Control (OFAC) says that it has sanctioned several Bitcoin (BTC) and Ethereum (ETH) wallets linked to the group. According to a press release, the …
Investment Funds Will Be Allowed To Hold Crypto Under New Legislation in Japan: Report
If newly proposed legislation passes, Japan will start allowing investment funds to hold digital assets. According to a new Bloomberg report, Japanese Prime Minister Fumio Kishida’s administration is proposing revised legislation that would lift a restriction that prevents investment funds and venture capital firms from directly holding cryptocurrencies. Says the proposal, which was approved by …
XDFi, World’s First Compliant Decentralized Futures Protocol, To Launch on Flare Network
February 21, 2024 – Dubai, United Arab Emirates Flare, the blockchain for data, has announced a partnership with Sindric Solutions to launch XDFi, a new decentralized futures protocol created by Wall Street veterans. XDFi aims to raise industry standards for compliance and efficiency, delivering a trustless, non-custodial futures contract-purchasing environment that operates 24/7. With regulatory …
VanEck Bitcoin ETF records 14x surge in daily volume
VanEck’s Bitcoin ETF HODL experienced an astonishing 14x surge in trading volume on Feb. 20, catching the attention of investors and analysts across the financial sector. The ETF, one of the ten spot bitcoin exchange-traded funds (ETFs) available in the US, traded over $400 million in volume, a significant leap from its daily average of …
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Analysis of HODL waves reveals a speculative market at play
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on …
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Binance accused of manipulating Nigerian Naira as ‘glitch’ impacts P2P traders
On Feb. 21, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, accused Binance of “blatantly setting exchange rate for Nigeria, hijacking CBN role,” in a scathing attack on social media platform X. He continued, “The EFCC and the CBN should move against these platforms trying to manipulate our national currency to Ground Zero. …
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Former FTX executives Backpack exchange expands to 11 US states
Amid tightening global crypto regulations, Backpack, a crypto exchange founded by former FTX executives, has broadened its reach to 11 US states, including California, Colorado, Indiana, Missouri, Wyoming, and others. In a Feb. 21 announcement on the social media platform X (formerly Twitter), the company disclosed its availability to residents within the states above, with …
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