Money & Crypto News

12 августа 2024 10:54

Binance will force conversion of 15 tokens to USDC and remove tokens from withdrawal

On August 12, according to the official announcement, Binance will convert the following tokens to USDC at the snapshot time of 00:00 (UTC) on September 2, 2024, based on the user's holdings in the Binance wallet. The conversion will be completed at 23:59 (UTC) on March 1, 2025, and the equivalent USDC will be deposited into the user's Binance wallet. Users can withdraw the airdropped/delisted tokens as shown below before 23:59 (UTC) on September 1, 2024, and withdrawals will not be possible afterwards.

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12 августа 2024 09:54

Kinto: 2% of supply will be allocated as mining rewards before September 18

On August 12, the Layer2 network Kinto announced that Kinto's mining rewards will reach an all-time high. Before September 18, Kinto will allocate 2% of its token supply as mining rewards.
On June 27, the Layer2 network Kinto stated on the social platform that it has launched a mining plan and will allocate 2% of the supply this summer. Active users who deposit funds and application developers whose contracts receive the funds will receive rewards.

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12 августа 2024 08:54

LG subsidiary Wacon CEO arrested for allegedly planning crypto scam, involving "hundreds of billions of won"

On August 12, according to Cryptonews, Byun Young-oh, CEO of Wacon, a wholly-owned subsidiary of LG Group, was arrested for allegedly planning ETH-related cryptocurrency scams. The Seoul Central District Prosecutors' Office will prosecute Byun and another suspect, Yeom, for fraud.
The MainEthernet wallet service operated by Wacon was unable to withdraw funds normally in the summer of 2023. In November last year, Byun met with investors and claimed that he would return investors' money and said that "all problems can be solved in just 4 months." But prosecutors believe that this is a Ponzi scheme involving hundreds of billions of won, with about 500 victims, mainly elderly people. Byun had promised a return on investment of up to 45% to 50%, and denied the Ponzi scheme allegations last year.

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12 августа 2024 07:54

Dragonfly opposes CFTC's proposed ban on political prediction markets

On August 12, CoinDesk reported that Jessica Furr from Dragonfly Digital Management and consultant Bryan Edelman wrote to the U.S. Commodity Futures Trading Commission (CFTC) stating: "Political event contracts should not be equated with gambling activities such as the Super Bowl. Elections have significant economic impacts, and these contracts are designed to provide key risk hedging functions, comply with the requirements of the Commodity Exchange Act (CEA), and provide valuable forecasting data to the public."

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12 августа 2024 06:54

Pump .fun launched 11,796 Meme tokens in the past 24 hours, and only 157 were finally launched on Raydium

On August 12, according to Dune dashboard data, Pump .fun launched 11,796 Meme tokens in the past 24 hours, and only 157 were finally launched on Raydium, accounting for only 1.33%. As of now, Pump. fun has launched a total of 1,210,635 Meme tokens.

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12 августа 2024 05:32

A whale spent $3.13 million to buy 42 billion PEPE in the past 7 days, with a current profit of $170,000

According To Spot On Chain Monitoring, A Whale Named "cookislandstrust.eth" Is Trying To Buy PEPE Again. In The Past 7 Days, The Whale Has Spent A Total Of $3.13 Million And Bought 420 Billion P-pieces Twice. EPE, including the big sell-off on August 5 and two hours ago, now earns $170,000 (+5.4%). Whale also spent $7.05 million to buy 2,978 ETH near the bottom of August 5, and now earns $534,000 (+7.58%).

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12 августа 2024 04:25

Nigeria SEC: Be cautious and open to the supervision of Bitcoin and be willing to actively explore relevant frameworks

On August 12, according to BeInCrypto, Momotimi Agama, director of the Nigerian Securities and Exchange Commission (SEC), said that the agency is cautious and open to the regulation of Bitcoin and is willing to actively explore relevant frameworks. Agama stressed that the SEC still focuses on investor protection and market integrity maintenance. The regulator is committed to helping people understand the concept of cryptocurrencies and guide them on how to trade digital assets correctly. In addition, strict measures will be taken against companies or individuals who do not comply with the SEC regulations. Previously, Nigeria detained and accused Binance executive Tigran Gambaryan of violating anti-money laundering laws.

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12 августа 2024 03:36

Musk: The interview with former U.S. President Trump will have no manuscript and no subject restrictions

Elon Musk will interview Trump at 8 p.m. Eastern Time on Monday. Musk said that the interview will have no manuscript and no subject restrictions in the interview.

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12 августа 2024 03:10

1157 BTC transferred from Kraken to unknown wallet, worth more than $68 million

According to Whale Alert monitoring, at about 8:12 Beijing time, 1,157 BTC ($68,150,602) were transferred from Kraken to unknown wallets.

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12 августа 2024 03:08

12,682 ETH transferred from unknown wallet to Coinbase

According to WhaleAlert monitoring, at about 6:57 Beijing time, 12,682 ETH (32,574,539 US dollars) were transferred from unknown wallets to Coinbase.

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12 августа 2024 03:04

The exchange's Bitcoin reserves hit a five-year low, with a withdrawal of $5.96 billion in 30 days

In the past month, starting from July 11, 2024, 99,308 BTCs have been withdrawn from the exchange, worth $5.96 billion. At present, data from cryptocurrencycom shows that the centralized exchange holds 2,679,880 BTC, which is worth about $161 billion based on the Bitcoin exchange rate on Sunday, August 11. The last time reserves were so low was during the Bitcoin bear market on November 19, 2018.

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12 августа 2024 00:50

Flare Network: XRP test network and FAssets public beta version will be reset on August 19

FlareNetwork tweeted on X that its XRP test network will be reset on August 19, and the public beta version of FAssets will also be reset.

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11 августа 2024 23:55

27.34 million XRPs transferred from unknown wallets to Bitstamp

On August 11, according to WhaleAlert monitoring, 27,340,000 XRP ($15,562,146) were transferred from unknown wallets to Bitstamp at 3:06 a.m. Beijing time today.

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11 августа 2024 22:57

Cryptocurrency advocates sue Nigeria

James Utudor, a Nigerian cryptocurrency advocate, filed a landmark lawsuit challenging the government's restrictions on the possession, use and trading of digital assets such as Bitcoin (BTC) and stablecoin. Utudor claimed that the lawsuit listed the Nigerian President, the Minister of Finance and the Minister of Justice as defendants and aimed at protecting the basic rights of Nigerians.

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11 августа 2024 21:49

IntoTheBlock: The total losses caused by DeFi vulnerabilities are decreasing quarterly

According to IntoTheBlock in X, the total losses caused by DeFi vulnerabilities are decreasing every quarter; however, the share of economic vulnerabilities is increasing. In order to protect the ecosystem, economic risk mitigation must be synchronized with technological progress.

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12 августа 2024 10:29

Thailand launches cryptocurrency regulatory sandbox

On August 12, TheBlock reported that the Thai Securities and Exchange Commission (SEC) said that the country has launched a regulatory sandbox program for cryptocurrency companies. The Thai SEC said that the sandbox aims to "promote experimentation and support innovative developments in the effective provision of digital asset services in real-life contexts." The regulatory sandbox is open to 6 types of participants, including digital asset trading platforms, brokers, traders, fund managers, consultants and custodial wallet providers. Participants must pass the Thai SEC's assessment of capital adequacy, work systems and management structures before entering the sandbox.

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12 августа 2024 09:29

Former U.S. Treasury Secretary: No need for an emergency rate cut, but a 50 basis point rate cut in September may be appropriate

On August 12, former U.S. Treasury Secretary Summers warned that any president's influence on U.S. monetary policy making would ultimately harm the economy. He pointed out that government officials "always want to print more money and lower interest rates - step on the accelerator hard to boost the economy." This pressure raises expectations of inflation and pushes up long-term interest rates. He believes that such actions by government officials will only "increase inflation without substantial output growth."

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12 августа 2024 08:29

SkyBridge Capital founder: Trump's campaign is in chaos and undergoing personnel changes

On August 12, SkyBridge Capital founder and Trump critic Anthony Scaramucci posted on X: "The implosion has begun. Trump's campaign is in chaos, and Trump is looking for some scapegoats and making personnel changes."

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12 августа 2024 07:29

The Ethereum network burned 210 ETH on August 10, a new low for the year

On August 12, TheBlock reported that the daily ETH burning on the Ethereum network has dropped to the lowest level this year. The base fee currently fluctuates between 1 and 2 gwei, which is one of the lowest levels observed in recent years. Only 210 ETH were burned on Saturday, a new low for the year, but the net ETH issuance on that day exceeded 2,000, and Ethereum showed an inflationary trend.

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12 августа 2024 06:35

CEX Bitcoin holdings hit a new low since November 2018, currently holding about 2.36 million

On August 12, Bitcoin. com reported that 99,308 BTC worth $5.96 billion were transferred out of CEX in the past month. Cryptoquant data shows that CEX currently holds 2.67 million BTC (worth about $161 billion), a new low since November 19, 2018.
After November 19, 2018, CEX's Bitcoin holdings surged, reaching an all-time high of 3.374 million Bitcoins on July 23, 2021. However, with the collapse of Terra and FTX, CEX's Bitcoin holdings fell by 20.16% and are currently 2.67 million Bitcoins.

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12 августа 2024 04:51

Jupiter Lianchuang: There is no platform fee for exchange transactions on Jupiter

Jupiter Meow said in response to users in X that the team did not charge platform fees for exchange transactions on Jupiterjupag exchange is 100% free. The platform mentioned by the user is one of Jupiter's exchange API partners, and the platform charges a fee. Meow added that Jupiter has a new API function that allows them to choose fees in input or output, which will be useful in the future.

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12 августа 2024 03:51

South Korea's Wacon CEO arrested on suspicion of cryptocurrency fraud

On August 12, Byun Young-oh, CEO of Wacon in South Korea, was arrested on suspicion of Ethereum-related cryptocurrency fraud. The Seoul Central District Prosecutor's Office will indict Byun and another suspect, Yeom, for fraud. The MainEthernet wallet service operated by Wacon experienced cash withdrawal difficulties in the summer of 2023. The prosecution believes that this is a multi-level marketing fraud program worth hundreds of billions of won, with about 500 victims, mainly the elderly. Byun had promised a return of up to 45% to 50%, but denied the Ponzide fraud allegations.

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12 августа 2024 03:12

Cryptocurrency trading volume rose 19% in July after falling for four consecutive months

According to CCData, the transaction volume of cryptocurrency on the global centralized exchange surged by 19% to $4.94 trillion in July. This is the first increase in trading volume in four months. The trading volume of derivatives increased by 21% to $3.50 trillion. In addition, the market share of derivatives rose to 70.9%, the highest level since December 2023.

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12 августа 2024 03:09

The Federal Reserve will only cut interest rates by 25BP in September

Bloomberg's latest survey of economists shows that nearly four-fifths of respondents expect the Federal Reserve to cut interest rates by only 25 basis points in September, and the estimated median shows that the possibility of an emergency interest rate cut before the September meeting is only 10%.

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12 августа 2024 03:05

The position has reached $62.9789 million in the past 4 hours, and the main order has exploded

According to coinglass data, in the past four hours, the amount of empty positions on the whole network has reached $62.9789 million, of which the amount of empty orders is about $5,859,500, and the amount of multiple orders is about 57,119,400 US dollars.

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12 августа 2024 03:01

BTC fell below $59,000

The market shows that BTC fell below $59,000, and now reports $58992.74, with a 24-hour decline of 3.18%. The market fluctuates greatly. Please do a good job in risk control.

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12 августа 2024 00:33

NEAR Foundation: Chain Abstraction has been launched on the NEAR main network

NEAR Foundation announced on Thursday that Chain Abstraction, a new function aimed at making seamless transactions between networks easier, has been launched on the main network - which further shows that the number of projects committed to the "chain abstraction" design concept is increasing. Near co-founder Illia Polosukhin personally promoted the chain abstract roadmap of the project, aiming to simplify the cryptocurrency user experience due to the continuous development of the multi-chain ecosystem.

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11 августа 2024 23:30

OSL Executive Director and Head of Regulatory Affairs: Hong Kong cryptocurrency ETF faces systemic market obstacles

Gary Tiu, executive director and director of regulatory affairs of OSL, said that Hong Kong's cryptocurrency spot exchange trading funds face systemic obstacles, that is, the market generally lacks incentives for ETFs. Tiu said that Hong Kong still has a negative attitude towards Bitcoin, Ethereum and cryptocurrencies in general. At the same time, there are still some prejudices in the eyes of regulators and financial institutions. They believe that Bitcoin ETF is a unique risk category that requires extreme caution.

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11 августа 2024 22:24

Survey: Most scholars in the field of quantum computing believe that quantum computing is progressing faster than expected

This is based on QuEra's recent survey of 927 people (researchers, executives, media, enthusiasts, etc.) related to the field of quantum computing. Among the respondents surveyed, 74.9% "expect quantum computing to become a better alternative to traditional computing under certain workloads in the next 10 years." When asked about the development speed in the field of quantum computing, more than half of them said that it was "faster than I expected" or "much faster than I expected." In academia, this number has risen to 55%.

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11 августа 2024 21:21

The difficulty of Bitcoin mining is expected to decline on August 14

On July 31, the difficulty of Bitcoin mining was at a block height of 854,784 (17:13:32), and the difficulty of mining was increased by 10.5% to 90.67T, a record high. According to the current indicators, the difficulty is expected to decrease on August 14, with a decrease of between 4% and 5.3%.

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