Bitcoin’s price has been hovering around the same level since its peak in March. This has made investors nervous, especially since it recently fell below $60,000. But it’s not just the price that’s slowing down. Data from Santiment shows that activity on the Bitcoin network has also dropped over the past few months. Low Activity:…
Gas Prices Hit Rock Bottom Ethereum users are cheering as gas fees have plunged by a whopping 93% since their peak just six months ago. This means transactions are now significantly cheaper, making the platform more accessible for everyone. Factors Behind the Drop The recent Cancun-Deneb upgrade and a slowdown in network activity have contributed…
Bitcoin’s Recovery on the Horizon Crypto expert Rekt Capital predicts that Bitcoin could break out of its “danger zone” within the next two days. This prediction comes after weeks of speculation about Bitcoin’s price trajectory. What is the “Danger Zone”? Rekt Capital compares Bitcoin’s current price action to its behavior in 2016 after the halving….
The US Department of Justice (DOJ) has appointed Forensic Risk Alliance (FRA) as the independent compliance monitor for Binance for the next three years. This appointment is part of Binance’s plea deal with the DOJ in 2023. Why FRA Was Chosen Bloomberg reports that FRA was selected over Sullivan & Cromwell (S&C) due to S&C’s…
SEC’s Counterargument The SEC has filed a countermotion against Coinbase’s petition for new crypto regulations. The SEC argues that: Existing securities laws are sufficient to regulate crypto assets. The SEC has not expanded its authority over crypto assets. Enforcement actions against crypto-related businesses demonstrate the effectiveness of current laws. Coinbase’s Petition In July 2021, Coinbase…
Ethereum (ETH) has been struggling lately, dropping 6.45% in the past week. Over the past few months, it has lost 16.57% of its value. Whale Liquidates Ethereum Holdings A crypto whale recently sold all of their 6,714 ETH tokens for $19.5 million. Despite the large profit, the investor actually lost $6.5 million based on the…
JPMorgan Chase is bracing for the possibility that its assets in Russia could be seized, according to a recent report. Legal Battles and Seizure Order A Russian court has ruled in favor of state-owned VTB Bank, ordering the seizure of JPMorgan’s accounts and other assets in Russia. The bank is facing a lawsuit in the…
Akash Network (AKT), a decentralized cloud computing coin, has jumped 44% since completing its “Mainnet 11” upgrade on May 2nd. It’s currently trading at $5.76, up from $4.00 before the upgrade. Key Features of the Upgrade The upgrade enhanced AKT management, tracking, and grant processes for deployments. It also supports decentralized finance (DeFi), machine learning,…
Accusations and Investigations The US Treasury Department is facing accusations of spying on Americans’ bank transactions in collaboration with financial institutions. A House Judiciary Committee memo alleges that the Treasury’s Financial Crimes Enforcement Network (FinCEN) requested banks to monitor customers’ transactions and flag certain keywords without legal authorization. Yellen’s Testimony Treasury Secretary Janet Yellen confirmed…
Kraken’s Arguments Kraken, a major cryptocurrency exchange, is disputing accusations by the U.S. Securities and Exchange Commission (SEC). The SEC claims that Kraken operated as an unregistered securities broker, dealer, and clearing agency. Kraken argues that the SEC’s definition of investment contracts is too broad and would give the agency excessive authority. The exchange’s lawyers…
