Crypto Land

2023-06-12 20:31:06 Latin American Crypto Holders Shift to Bitget Exchange Following Binance and Coinbase SEC Crackdown

In the aftermath of the US Securities and Exchange Commission’s crackdown on major crypto exchanges Binance and Coinbase, Latin America’s crypto holders have reacted to this development with a surge of new accounts registered with Bitget, a crypto derivatives exchanges.

The American regulator filed lawsuits against both Binance, the globe’s largest cryptocurrency exchange, and Coinbase, the largest US-based crypto exchange, in the past days.

The SEC pressed 13 charges against Binance and its US-based affiliates. These ranged between accusations of allegedly operating as an unregistered exchange, and offering unregistered securities to customers. The commission also filed similar charges against Coinbase.

With the regulator targeting two major US exchanges, Latin American crypto holders are intensifying efforts to shift their funds to Bitget, among others. Compared to daily averages, new users from the region expanded by 43% between June 6 and 9. Brazil and Argentina, which boast the continent’s largest populations, led market share growth. Open / Comment

2023-06-09 20:01:07 SEC Chair Gary Gensler Tried To Land a Job at Binance, the Exchange’s Lawyers Allege

Before becoming head of the US Securities and Exchange Commission, Gary Gensler offered to serve as an adviser for Binance, according the crypto exchange, which is now facing heat from the regulator.

In a letter directed towards the SEC’s division of enforcement, counsel for Binance and the exchanges CEO Changpeng Zhao, said Gensler should have been recused from the agency's enforcement actions against Binance.

Binance said they conveyed that about four months ago and argued that Gensler could be a “material fact witness.”

“To date, the Staff has never confirmed whether Mr. Gensler has recused himself, and if he has not, the Commission’s explanation for why not. We remain deeply troubled by this history and the Staff’s refusal to acknowledge it, which compounds our concern about the course of action threatened by the Staff in this matter,” Binance’s lawyers said. Open / Comment

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2023-06-08 19:59:54 Invest and leverage sneakers assets smart.

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2023-06-06 20:31:10 Binance Sees $700 Million in Ethereum Outflows Amid SEC Charges

The world’s largest crypto exchange, Binance, saw outflows of more than $700 million on the Ethereum network alone on Monday after news broke that the exchange is being sued by the US Securities and Exchange Commission (SEC).

The news of the outflows was shared by on-chain analysis platform Nansen on Twitter on Tuesday, with the tweet noting that net flows, even in the past hour, continues to be negative.

According to Nansen’s data, the 24-hour net outflow from Binance on the Ethereum network (ETH and ERC-20 tokens & stablecoins) now stands at $778.6 million.

Looking solely on BinanceUS, the US-based branch that is actually targeted by the SEC, the net outflows on Ethereum over the same period stood at $13 million, Nansen said. Open / Comment

2023-06-03 23:00:03 FTX Exchange Objects to Prolonged Mediation Talks with Bankrupt Genesis

In a recent court filing, FTX said it had not been invited to a court-appointed mediation in May that involved Genesis, its parent company Digital Currency Group, and creditor Gemini Trust Co, despite being a major Genesis creditor.

The bankrupt crypto exchange also objected to a motion filed by Genesis Global that sought to estimate the FTX debtors’ claims at $0.00, claiming that it was the largest creditor in Genesis’ Chapter 11 proceedings with claims worth a whopping $3.9 billion.

On the other hand, Genesis argued that throwing out the FTX claims “is critical to avoid undue delay in the timing and amount of creditor distributions, and to expeditiously pursue confirmation of a Chapter 11 plan.”

FTX’s filing adds to more than a dozen other individual Genesis creditors who have filed objections to extend the mediation.

A hearing on the extension is scheduled for Monday but these objections are delaying Genesis and its creditors’ attempts for a settlement. Open / Comment

2023-06-03 15:00:04 Texas Legislature Aims to Take the Crown as the Bitcoin Mining Capital of the World!

Read More Open / Comment

2023-05-31 20:02:18 Crypto Too Risky for ‘Most’ Russians, Says Finance Ministry – But Could Be ‘Suitable’ for ‘Some’

Crypto is too risky for “most” Russians, the nation’s Finance Ministry has claimed. But the ministry claimed tokens could be “suitable” for “professional investors.”
Per the media outlet Nizhny Novgorod, the comments were made by Ivan Chebeskov, the director of the ministry’s financial policy department.

Chebeskov said that most Russians should not “consider cryptocurrencies” to be a “form of savings.” He called tokens “high-risk financial instruments.”

But the policy department did not back a ban on crypto, or suggest that all Russians shun tokens.
Instead, Chebeskov claimed that coins were only “suitable for citizens who already invest in” assets like “securities and real estate.”

Chebeskov said that “a certain amount of risk still remains” for crypto investors.
He claimed that “the volatility of cryptocurrencies can reach the 100-200% mark.” Open / Comment

2023-05-28 20:31:14 XRP to Exceed All Expectations In 2023?

Ripple's 2023 New Value Report reveals strong and widespread excitement regarding the potential of cryptocurrencies despite regulatory issues between the United States Securities and Exchange Commission (SEC) and many crypto firms, including Ripple.

The report noted that more than 70% of global finance leaders emphasized an increase in their confidence in the crypto industry over the past six months.
What are the factors fueling the positive outlook on the crypto industry, including trends, technologies, and use cases?

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The world of cryptocurrencies continues to evolve and shape various industries, with businesses and investors constantly seeking insights into emerging trends.

Despite facing challenges in 2022 and a somewhat turbulent start to 2023, this year's report reveals a prevailing sense of excitement regarding the future of crypto and digital assets. Open / Comment

2023-05-14 23:01:13 Cryptocurrency arbitrage is several logically related transactions aimed at extracting profit from the difference in prices for the same or related assets at the same time on different exchanges or on different markets of the same platform. In simple words, it is the purchase of an asset on the stock exchange, where the demand for it (and, accordingly, the price) is lower, and the sale is where it is higher.

Take advantage of the arbitration opportunities with the help of the project Nimbus - is a Defy platform managed by ISO DAO, which offers 16 training strategies for apps-based users to participate in IPOs, start-up financing, and so on. Open / Comment