Author: Dren.H

Coinbase suspends trading of BUSD stablecoin due to listing standards, but funds remain accessible. Coinbase, a leading San Francisco-based cryptocurrency exchange, announced its decision to halt trading of the Binance USD (BUSD) stablecoin on March 13, citing its strict “listing standards.” BUSD is currently the third-largest stablecoin by market capitalization, but it will no longer be available for trade on Coinbase.com (simple and advanced), Coinbase Pro, Coinbase Exchange, and Coinbase Prime platforms. While Coinbase noted that BUSD funds would remain accessible to customers, they would not be able to trade the stablecoin on the exchange anymore. A spokesperson for Coinbase…

Solana network experiences a slowdown and temporary shutdown due to forking incident, prompting validators to downgrade and restart the chain. Early Saturday, the Solana blockchain experienced technical difficulties that slowed down users’ ability to trade cryptocurrencies and transfer assets on-chain. The blockchain’s forking incident created conflicting versions of its transaction history, while validators’ RAM increased, and the chain’s transaction throughput plummeted, causing nearly all on-chain activity on the Solana network to freeze. Solana’s Discord server reported the forking at around 00:53 in New York time. According to Solana Explorer, the network’s transaction processing rate fell to 93 transactions per second…

NFT whale Machi Big Brother sold and bought back 1,010 non-fungible tokens, causing market fluctuations and potential BLUR airdrop profits. A record-breaking NFT dump of 1,010 tokens in just 48 hours has been completed by Machi Big Brother, a well-known NFT whale. The sale amounted to 11,680 ETH, equivalent to approximately $18.6 million. It is the largest-ever NFT dump, according to Andrew Thurman, a psychometric enhancement technician at Nansen. The Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Otherdeed NFT collections were among the top collections that Machi initially dumped. Macho reportedly sold 90 BAYC NFTs, 191…

G20 countries discuss crypto regulation, with India requesting IMF and FSB to produce a technical paper on crypto. Leaders of the G20 group of countries have pledged to continue cooperation for a globally fair, sustainable, and modern international tax system, crypto regulation, etc.  The G20 is a group of 20 major economies, including both developed and emerging countries, that accounts for more than 80% of global GDP and trade. The G20 Finance Ministers and Central Bank Governors Meeting is one of the key events of the G20’s annual calendar. It provides a platform for members to discuss pressing economic and…

Coinbase recently experienced a cyberattack on one of its employees, whereas transaction volumes declined in recent quarter reporting. Coinbase, a leading cryptocurrency exchange, recently experienced a social engineering attack that targeted one of its employees. The attacker, equipped with a legitimate Coinbase employee username and password, attempted to gain remote access to the exchange’s system. However, Coinbase’s cybersecurity controls were successful in preventing the attacker from gaining access to its system and compromising customer information or funds. Coinbase was transparent about the attack and shared the Tactics, Techniques, and Procedures (TTPs) used by the adversary to protect its customers, employees,…

BlockFi recently requested the court to “dismiss” SBF’s bankruptcy filing for Emergent Fidelity Technologies Ltd. In light of the FTX scandal involving its former CEO, Sam Bankman-Fried, BlockFi, bankrupt cryptocurrency lender, has requested the United States Bankruptcy Court in Wilmington, Delaware to dismiss Chapter 11 bankruptcy protections for Emergent Fidelity Technologies Ltd., the offshore investment vehicle of SBF. According to BlockFi’s motion, Emergent Fidelity Technologies Ltd., which SBF used to purchase a 7.6% stake in Robinhood Markets Inc., filed for bankruptcy to undermine BlockFi’s claims to the Robinhood shares. In response, Emergent’s liquidator, financial adviser Quantuma, noted that the bankruptcy…

Paul Pierce, an NBA Hall of Famer, has been charged by the Securities and Exchange Commission (SEC) for promoting EMAX tokens without disclosing the compensation he received for the endorsement and for making false and misleading statements about the crypto asset’s security.  The SEC order finds that Paul Pierce failed to reveal that he was paid over $244,000 worth of EMAX tokens to promote the tokens on Twitter. Furthermore, Pierce tweeted misleading statements related to EMAX. That includes tweeting a screenshot of an account showing large holdings and profits. He did not disclose that his own personal holdings were much…

Chief Policy Officer of Coinbase Faryaer Shirzad recently called on the US Congress to “step up” when it comes to crypto regulation. Coinbase, the world’s second-largest cryptocurrency exchange by trading volume, has expressed its willingness to register its dormant broker-dealers with the U.S. Securities and Exchange Commission (SEC) but says it needs clear direction from Congress first. Faryar Shirzad, the exchange’s chief policy officer, made the comments during an appearance on CoinDesk TV’s on Friday. Speaking on the need for clarity in the regulation of crypto assets, he called on Congress to “step up” its efforts. While the U.S. approach…

Tether (USDT) recently experienced a huge increase in market capitalization, with BUSD experiencing FUD. USDT, the dominant stablecoin by circulating supply, has enjoyed an increase of $1 billion in market capitalization, bringing its total value to $69.5 billion. This has happened as investors flee from the regulatory issues surrounding Binance USD (BUSD), which has been facing greater scrutiny recently. The market cap of USDT has risen from $68.5 billion since Monday, according to CoinGecko, the highest it has been since the turbulence of last June. In contrast, Paxos, which is the issuer of BUSD for the exchange giant Binance, has…

George Soros recently made interesting investments, including the acquisition of Tesla shares, crypto-related companies, and many more.Billionaire investor and philanthropist George Soros made some interesting investment moves during the fourth quarter of 2022. His investment management firm, Soros Fund Management, boosted its stake in Tesla, Peloton, took new positions in Carvana, GM, crypto names, and dumped Zoom and Twitter in the last quarter of the year. The fourth-quarter moves of Soros Fund Management were disclosed through a 13F filing with the U.S. Securities and Exchange Commission (SEC) dated December 31, 2022. It revealed that the firm purchased 242,399 shares of…