A witness in the ongoing Nigerian money laundering trial against Binance has alleged that many local users of the cryptocurrency exchange platform are operating under false identities. The witness further claimed that by allowing users to withdraw Nigerian naira (NGN), a regulated activity, Binance is in violation of local laws. Money Laundering Charges A deputy […]
Digital Asset Funds Witness Major Shake-up Amid Fed’s Hawkish Stance: Coinshares
Digital asset investment products have seen substantial outflows totaling $ 600 million, marking the most significant withdrawal since March 22, 2024. According to Coinshares and lead researcher James Butterfill, this exodus is attributed to a hawkish Federal Open Market Committee (FOMC) stance, leading investors to reduce their exposure to fixed-supply assets like bitcoin. Coinshares …
In 22 Days, Liquid Staking Platforms Witness a 340,000 ETH Decline
According to the most recent data, within the last 22 days, the volume of staked ether locked across various liquid staking derivative token platforms has seen a decline of 2.45%. This downward trend was observed across 27 unique platforms, culminating in a reduction of 340,000 ETH, valued at approximately $ 1.18 billion. $ …
Crypto Exchanges Witness Bitcoin Deposit Boom Amidst Ethereum Retreat
According to recent data, in the past month, the quantity of bitcoin residing in centralized cryptocurrency exchanges surged by 32,058 bitcoin. Concurrently, the ethereum reserves on these exchanges have diminished, with 262,904 ether, valued at $ 597.42 million, being withdrawn from trading platforms since Dec. 4, 2023. Bitcoin Bulks Up as Ethereum Eases Off …
Bitcoin L2 Solutions Witness Decline, Lackluster Demand Despite Surging Transaction Fees
On Saturday, December 16, the cost of transacting in bitcoin eclipsed its previous peak from May 8, 2023, surging past $ 40 per transaction. The trend of escalating onchain fees began on the final day of October, steadily increasing thereafter. Numerous crypto proponents foresaw this spike, suggesting a potential shift to Layer two (L2) …