Lack of Interest and Practicality China’s digital yuan (e-CNY) has faced a setback in adoption. Despite government claims of high transaction volumes, many early adopters are converting it back to cash. State employees receiving digital yuan as part of their salaries are not finding it useful or convenient. Privacy Concerns The e-CNY has raised concerns…
Toronto Dominion (TD), a major bank, is preparing to pay a hefty fine of $450 million to the US government. The penalty stems from an inadequate anti-money laundering (AML) program that failed to effectively detect, report, and respond to suspicious activity. TD has set aside an initial provision of $450 million to cover the fine….
Crypto analyst Michaël van de Poppe believes that Ethereum (ETH) is poised for a major reversal. Ethereum’s Pivotal Moment Van de Poppe predicts that the SEC’s decision on spot ETH ETFs will be a “big moment” for the cryptocurrency. If the applications are denied or delayed, he believes ETH will rally from its current price…
The US Department of Justice (DOJ) has appointed Forensic Risk Alliance (FRA), a London-based consulting firm, to monitor Binance, the world’s largest cryptocurrency exchange, for three years. Reason for Monitoring Binance recently pleaded guilty to violating anti-money laundering (AML) and sanctions laws. As part of the plea deal, the company agreed to appoint an independent…
A woman who discovered a massive sum of money missing from her Wells Fargo account has accused the bank of failing to protect its customers. The Theft The victim, who wishes to remain anonymous, claims that thieves stole over $81,000 from her account through electronic transfers. Despite having only withdrawn money three times in the…
Solana has been struggling to break back above $200 for a month now. It briefly hit $208 in March, but quickly fell back down. Why the Drop? Solana’s parabolic rise from October 2023 to April 2024 created an overheated market that needed to correct. The popularity of Solana meme coins and the overall bullish crypto…
Counterfeiting Techniques Evolve Reports of counterfeit money being used have been popping up across the country. In Hilo, Hawaii, authorities are investigating a case where someone has been bleaching the ink off of $1 bills and printing $100 marks on top. Police captain Rio Amon-Wilkins says this is the first time they’ve seen this type…
Technical Indicators According to crypto analysts Jan Happel and Yann Allemann, altcoins are on the brink of a significant upward move. The analysts observed that the total market cap of altcoins (excluding Bitcoin, Ethereum, and stablecoins) has shown signs of bottoming out. Momentum Oscillators The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD)…
Telegram’s Advantage Hedge fund Pantera Capital believes Toncoin (TON), the blockchain developed by Telegram, has the potential to “bring crypto to the world.” Unlike other blockchain projects that struggle to build communities, Telegram already has a massive user base of over 900 million monthly active users. Built-in Wallet and Regulatory Freedom Telegram’s built-in crypto wallet…
Billionaire investor Stanley Druckenmiller is raising concerns that excessive government spending could hinder the development of transformative technologies like blockchain and artificial intelligence (AI). Spending Out of Control Druckenmiller compares the current government spending spree to the Great Depression era. He believes that the government’s reliance on debt to fund its spending will lead to…
