Exchanges Mike Dalton · 6 mins ago · 1 min read The Huobi advisor commented on the fallout of charges against his other projects.1 min read Updated: March 25, 2023 at 1:32 am Cover art/illustration via CryptoSlate Ad Justin Sun said in a series of tweets on March 24 that Huobi believes the effects of recent charges against his other projects have come to an end.On March 22, the U.S.Securities and Exchange Commission (SEC) filed charges against Justin Sun and three companies to which he is linked.Specifically, the SEC filed charges against TRON Foundation; Sun served as founder and CEO of TRON until 2021.The regulator also sued two BitTorrent-related firms; Sun briefly served as CEO at those firms after TRON acquired the project in 2018.Though Sun is still associated with and owns those companies, he is no longer CEO.
He is now an advisor for the cryptocurrency exchange Huobi Global — a relationship that has caused concerns about TRON and BitTorrent to spill over to the exchange.
Huobi minimally affected Sun, on his Chinese-language Twitter account, wrote that Huobi “feels that [the issue] has come to an end.” In a thread, Sun said that Huobi only saw a net withdrawal of $30 million in one day following the SEC charges.By contrast, Sun said, Huobi has recently experienced net deposits of $20 million per day.He noted that the SEC’s charges represented five years of “output” from the regulator and that one and a half days of cost to Huobi are “worthless.” In regards to crypto activity, Sun said that the exchange saw a “wave of crazy output and a wave of coin withdrawals” against a net deposit of $7 million.Sun plans to reinforce Huobi with a “to-do list” that includes depositing tens of millions of dollars to the exchange, launching new tokens, and introducing improvements.
Huobi Token (HT) is down 10% over the past week and the exchange saw a moderate trading volume of $840 million today.Zipmex acquisition faces challenges as buyer misses $1.2M payment Oluwapelumi Adejumo · 6 hours ago · 1 min read Zipmex reportedly said the failed payment could force it to liquidate its technology unit and suspend its payroll.
1 min read Updated: March 24, 2023 at 12:10 pm Cover art/illustration via CryptoSlate Ad Thailand-based crypto exchange Zipmex’s $100 million rescue plan has hit a snag as the investor failed to make a $1.25 million payment due on March 23, Bloomberg reported on March 24.Zipmex reportedly said the failed payment could force it to liquidate its technology unit and suspend its payroll.
Bloomberg reported that the exchange is uncertain about when the expected payment would be made.It added that the firm was working with its advisers on the next steps.The Asian exchange had entered into a memorandum of understanding with venture capital firm V Ventures to acquire it for $100 million after it fell into a liquidity crisis due to the poor market conditions of 2022.At the time, the exchange said it had exposure to bankrupt crypto lender Celsius.
Meanwhile, Thailand’s Securities and Exchange Commission (SEC) said it investigated some of the exchange’s products for possible breach of regulatory rules.
According to the SEC, the company might have been operating as an unregistered fund manager due to the nature of its earn product.Zipmex has yet to respond to CryptoSlate’s request for comment as of press time.Coinbase moves to on-chain staking for Tezos, Cosmos, Solana, and Cardano Mike Dalton · 3 seconds ago · 2 min read The exchange will also discontinue Algorand (ALGO) staking.
2 min read Updated: March 23, 2023 at 10:34 pm Cover art/illustration via CryptoSlate Ad Coinbase has begun its transition to on-chain staking for four cryptocurrency assets, according to an announcement on March 23.
Four assets affected, one discontinued Coinbase’s announcement and an attached help page say that customers will “earn rewards from the protocol, not Coinbase” under the new approach.Th firm says that its only role will be to connect customers to validators on the relevant blockchain.Coinbase will pause staking and unstaking beginning on March 24 and will resume those capabilities on March 29.Users will continue to earn funds during that time.The policy applies to four of the five assets that can be staked through Coinbase: Tezos (XTZ), Cosmos (ATOM), Solana (SOL), and Cardano (ADA).
The policy does not apply to Ethereum (ETH) staking, which is also supported by Coinbase.This is likely due to the fact that Ethereum does not yet support stake withdrawals and has high technical and deposit requirements for on-chain staking.
Coinbase also said that Algorand (ALGO) staking will be discontinued on March 29.The company will nevertheless pay out remaining ALGO staking rewards to users and will continue to support ALGO trading on its main exchange.Did regulations lead to the change? It is unclear whether the actions are related to the Wells notice that Coinbase has received from securities regulators.
Statements from Coinbase today suggest that the changes were scheduled as early as March 10 — prior to its receipt of that notice.
It is possible that the changes were influenced by Coinbase’s February warning that the U.S.Securities and Exchange Commission (SEC) intends to take action against retail staking products.The SEC later took action against Kraken, which may have motivated Coinbase to introduce a staking service in which it only plays a minimal role.Algorand Foundation CEO Staci Warden said that Coinbase told her that it is reexamining its services following regulatory scrutiny.Warden was seemingly unaware of Coinbase’s Wells Notice until a commenter in that Twitter thread informed her of the development.Elsewhere, Coinbase said in a statement to Cointelegraph that it halted Algorand staking for customer experience reasons.
It has not commented on reasons for the other changes.Bankruptcy FTX plans to sell stake in Mysten Labs for $96M FTX plans to sell stake in Mysten Labs for $96M Mike Dalton · 42 mins ago · 1 min read The sale amount includes $1 million of SUI token warrants.1 min read Updated: March 23, 2023 at 9:52 pm Cover art/illustration via CryptoSlate Ad FTX has submitted a motion through which it intends to sell its stake in Mysten Labs, according to a bankruptcy court filing on March 22.The value of the sale is estimated to be more than $96 million.About $95 million of that amount consists of shares, though it also includes $1 million of SUI token warrants — that is, a promise to receive Mysten Labs’ future crypto token when it is released.FTX acquired those assets by leading a Series B fundraising round for Mysten Labs in August 2022 and in other transactions around that time.
The fundraiser brought in $300 million from FTX and other companies and raised Mysten Labs’ valuation to $2 billion.Proceeds from the sale are intended to help return value to customers in the aftermath of FTX’s collapse.Mysten Labs builds the Sui Blockchain, which aims to act as a competitor to Ethereum while providing greater scalability and transaction throughput.The project has gained initial support from Chinese tech and commerce giant Tencent.
The Sui Blockchain is still in its early stage and its SUI token is not in circulation.Recent FTX Stories Top posts Memecoins3 hours ago Dogecoin dev tool update adds QR codes, moon phases, BIP-39 seed support Dogecoin dev tool update adds QR codes, moon phases, BIP-39 seed support Mike Dalton · 1 min ago · 1…Exchanges3 hours ago Mike Dalton · 6 mins ago · 1 min read The Huobi…Atsi Sheth5 hours ago Moody’s Warns Of Potential Financial Disruption Spillover Beyond US Banking Sector Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S.
banking sector from “stable” to “negative.” In…Uncategorized7 hours ago LLC Name Ideas Choosing the perfect name for your Limited Liability Company (LLC) can be a daunting task.It is important to choose…Bitcoin8 hours ago Bitcoin [BTC] can witness a further price hike if these factors are checked After a short decline, BTC managed to reclaim the $28,000 status.
Several market indicators and metrics looked bullish; BTC’s RSI…accomplice9 hours ago Terraform Labs CEO Do Kwon Faces Extradition To South Korea According to a report published by AFP, Do Kwon, CEO of Terraform Labs, has been charged with document forgery in…altcoin9 hours ago Solana [SOL] outshines Ethereum [ETH] on this crucial parameter Solana’s Nakamoto Coefficient stood at 31 as compared to Ethereum’s 1.Solana was well-distributed across geographies with no country controlling…altcoin10 hours ago Arbitrum [ARB] AirDrop grabs attention: Decoding the token’s reaction Arbitrum released over 12% of its ARB supply through an AirDrop.
Arbiturm continued to outperform its competitors, but ARB fell…altcoin12 hours ago SUSHI holders may have cut exposure long before SEC summon- Here’s how Long-term holders of the token have significantly shredded their holdings.The SUSHI protocol has seen a decline in growth, thereby…Analysis13 hours ago Biggest Movers: XMR Rises To 1-Month High, XRP Moves 4% Lower Monero jumped to a one-month high on Friday, as overall sentiment in crypto markets remained largely unchanged.The global market…
expectation13 hours ago Rate cuts are now the expectation as fed balance sheet grows Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy.CryptoSlate has no affiliation or…
altcoin14 hours ago The DAI is cast: MakerDAO votes to keep USDC as primary reserve MakerDAO community opts for USDC over other stablecoins as its primary reserve.USDC has since regained its peg, as its…Binance15 hours ago Binance insiders allegedly helping customers bypass KYC norms A new CNBC report claimed that Binance insiders were allegedly assisting users in circumventing security protocols.These insiders, termed ‘angels,’…Crypto news15 hours ago Nasdaq Set to Revolutionize Crypto Market with Launch of Custody Services in Q2 2023 Despite the recent turmoil in the cryptocurrency market, with Bitcoin and other digital assets experiencing significant price swings, several firms…Featured16 hours ago Do Kwon charged in the US following confirmed arrest in Montenegro Do Kwon charged in the US following confirmed arrest in Montenegro Zeynep Geylan · 3 hours ago · 2 min…Ripple16 hours ago Ripple effects, contagion, counterparty risk as banks and crypto stocks slide Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy.CryptoSlate has no affiliation or…
News16 hours ago Breaking News: Deutsche Bank Shares Slumps 14% Amid Global Banking Crisis In the latest global banking crisis, German multinational investment bank Deutsche Bank AG (NYSE: DB) signaled a red alert to…Exchanges16 hours ago Zipmex acquisition faces challenges as buyer misses $1.2M payment Zipmex acquisition faces challenges as buyer misses $1.2M payment Oluwapelumi Adejumo · 6 hours ago · 1 min read Zipmex…Trending – American Banks1 week ago Report: US Government Auctions Off Failed Banks SVB And SNBY, Crypto Restrictions Apply – architecture1 week ago Ethereum Upgrade To Implement Beacon Chain Withdrawals Scheduled For April 12 – Airdrop1 week ago Arbitrum Launches Native Governance Token ARB And Self-Executing DAO Governance Model – Altcoins1 week ago US Could Be Hit by Potential Hyperinflation Soon-Will Bitcoin’s (BTC) Price Make It to $100K? – anti-crypto message1 week ago Republican Congressman Tom Emmer Queries FDIC On Alleged Efforts To Purge Crypto Activity From US – 24-hour settled trades1 week ago Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation – AI tokens1 week ago Fetch [FET] hits the obstacle at 61.8% Fib level – Are more gains unlikely? – Crypto1 week ago Digital Assets Worth 2 Billion Rubles Issued In Russia In Less Than A Year []https://news.btcminingvolt.io/uncategorized/report-us-government-auctions-off-failed-banks-svb-and-snby-crypto-restrictions-apply/ []https://news.btcminingvolt.io/uncategorized/ethereum-upgrade-to-implement-beacon-chain-withdrawals-scheduled-for-april-12/ []https://news.btcminingvolt.io/uncategorized/arbitrum-launches-native-governance-token-arb-and-self-executing-dao-governance-model/ []https://news.btcminingvolt.io/news/us-could-be-hit-by-potential-hyperinflation-soon-will-bitcoins-btc-price-make-it-to-100k/ []https://news.btcminingvolt.io/uncategorized/republican-congressman-tom-emmer-queries-fdic-on-alleged-efforts-to-purge-crypto-activity-from-us/ []https://news.btcminingvolt.io/uncategorized/stablecoin-supply-plummets-after-depegging-event-7-4b-dollar-pegged-tokens-withdrawn-from-circulation/ []https://news.btcminingvolt.io/news/fetch-fet-hits-the-obstacle-at-61-8-fib-level-are-more-gains-unlikely/ []https://news.btcminingvolt.io/uncategorized/digital-assets-worth-2-billion-rubles-issued-in-russia-in-less-than-a-year/.
