Binance recently launched an investigation into the Solana-based meme coin, Book of Meme. This decision follows community discussions and allegations about potential insider trading linked to an event known as the “BOME rat warehouse” incident. Binance emphasizes its dedication to ensuring market fairness and transparency by starting an internal inquiry to explore these allegations thoroughly. The exchange highlighted its efforts to determine if any Binance staff were involved with the insider trading allegations concerning BOME. Initial findings from Binance suggest that the person under investigation has no association with the platform. Binance urges anyone with information about insider trading or…
Author: Rea K.
Kero, an NFT artist, has caused a stir by raising over $10 million in Solana (SOL) in a single day. This feat was achieved through the presale of a meme coin, initially started as a joke. Kero, embracing the humor and potential of the blockchain, queried his followers on X about launching a Solana-based coin “for fun.” The positive response was overwhelming, with over 5,000 endorsing the move. Subsequently, Kero revealed a wallet address for the presale of this new coin, named SNAP after a meme character Coco, which resembles the popular Pepe the Frog. The enthusiasm was palpable as…
Richard Teng, the CEO of Binance, believes Bitcoin will exceed $80,000. This comes as crypto-backed exchange-traded funds (ETFs) see a rise in investment, according to a Bloomberg report. Since taking the helm at Binance after Changpeng Zhao stepped down in November 2023, Teng has observed a notable entry of institutional capital into Bitcoin ETFs. This follows the U.S. Securities and Exchange Commission’s approval of these products. Teng is optimistic about Bitcoin’s price trajectory. He expects the cryptocurrency to climb beyond his initial year-end prediction of $80,000. This is due to a decrease in supply coupled with sustained demand. Even though…
A recent collaboration between the US Copyright Office and the US Patent and Trademark Office has led to a pivotal conclusion regarding the regulation of non-fungible tokens (NFT). Following a directive from Congress, these authorities embarked on a detailed examination to understand how NFTs fit within the existing intellectual property (IP) framework. Unveiling the Study’s Insights The investigation into NFTs and IP laws involved public discussions and a deep dive into relevant case law. This extensive process revealed that the current legal guidelines sufficiently cover the intricacies of NFTs, eliminating the need for additional regulations. Shira Perlmutter, the director of…
Bitcoin spot ETFs saw an unparalleled influx of funds, reaching a milestone of $1.05 billion in total net inflows. This event, occurring on March 12, marked a significant leap, boasting a 56% increase from the $673 million witnessed on February 28. This peak in inflows into Bitcoin ETFs is largely attributed to their exceptional performance, overshadowing the rate of Bitcoin’s newly mined supply. Clive Thompson, with a wealth management background and Swiss Private Banking experience, noted a striking acquisition of about 7200 Bitcoins by new Bitcoin ETFs on March 11. This volume greatly exceeds the daily mined Bitcoin average of…
UXLINK, a pioneering social network based in Singapore, has successfully raised $9 million. This funding round saw participation from both private cryptocurrency entities and companies listed on the stock exchange, marking a milestone in the company’s journey. OKX Ventures took the lead in this investment venture, alongside notable entities such as Web3Port Foundation, Cypher Capital, Kucoin Ventures, Gate Labs, and Matrixport Ventures. This financial boost aims to propel UXLINK towards launching an innovative project dubbed the “Social Liquidity Chain.” This initiative plans to incorporate Optimism and EigenDA technologies. The goal is to enhance support for third-party developers within the platform.…
Nigerian officials have escalated their actions against the global cryptocurrency exchange Binance. The latest move involves a demand for information on the exchange’s top 100 Nigerian customers, including six months of their transaction histories. This request follows closely on the heels of the detention of two high-ranking Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, who are integral to the company’s operations within Africa. Nigerian authorities have not charged the executives but have confiscated their communication devices and travel documents. Regulatory Crackdown Intensifies The backdrop to these events is a broader crackdown by the Nigerian government on cryptocurrency exchanges, aimed at…
Binance has declared a halt on trading for several stablecoin pairs, including those tied to the TrueUSD (TUSD), a stablecoin connected with Justin Sun. The affected trading pairs include COMP/TUSD, EDU/TUSD, and PENDLE/TUSD. This action is part of Binance’s commitment to ensuring high-quality market conditions by evaluating trading pairs for liquidity and volume. The suspension, set for March 15, 2024, at 03:00 UTC, also impacts other pairs such as ARPA/BNB and EDU/BNB. While these specific trading pairs will see cessation, Binance emphasizes that traders can still access the base and quote assets through other trading avenues available on the platform.…
Thailand’s financial watchdog has revamped regulations, now green-lighting U.S.-based spot Bitcoin exchange-traded funds (ETFs) for the nation’s professional investors. Reports from the Bangkok Post unveil that the Securities and Exchange Commission of Thailand has given the nod to asset management companies, allowing them to establish funds specifically geared towards investing in these U.S. spot Bitcoin ETFs. This decision caters primarily to institutional investors. SEC’s Cautious Approach to Crypto Assets The SEC’s top official, Pornanong Budsaratragoon, shared insights with a local media outlet. Budsaratragoon highlighted the growing demand from asset management entities eager to dive into crypto assets. The regulator expressed…
MetaMask, the renowned Ethereum blockchain wallet, is currently testing an innovative payment card. This new venture is in partnership with Banx and leverages Mastercard’s vast payment network. This move could usher in the market’s first fully decentralized web3 payment solution, as reported by CoinDesk through promotional materials and a testing platform. The payment card aims to bridge daily transactions with cryptocurrency holdings, allowing users to make purchases anywhere card payments are accepted. This initiative aligns with Mastercard’s strategy, unveiled in October, to work with self-custody wallet services like MetaMask and Ledger. The goal is to explore fresh approaches to issuing…