Stellar (XLM) price has continued to surge as the broader crypto market sees correction. The token surprised market participants with interesting price movements over the past seven days. Stellar leads top-gainers with a 4.19% growth in 24 hours and a 19.55% price gain on the weekly chart. 

Stellar Price Outlook

Stellar is a peer-to-peer (P2P) decentralized network launched by the Stellar Development Foundation in 2015. It provides a protocol that connects global financial systems by linking payment providers and financial institutions. Stellar transactions are powered by its native token XLM.

Stellar (XLM) performed well over the past weeks, showing noticeable gains amid dips and rallies in the last seven days. XLM saw a 23.6% price increase over the past 14 days, with a 19.55% seven-day gain in value.

Related Reading: Bitcoin Price Rally Stalls For Now, Heres Why

Even more remarkable is the tokens trading volume, which increased by 287.57% within a 24-hour. The change in trading volume over the past week suggests that XLM bulls worked overtime within these few days. XLMs trading volume went from less than $60 million to over $200 million in seven days. As of the time of writing, the tokens trading volume stands at $224 million, according to CoinMarketCap data.

With this bullish signal, XLM overcame the $0.1 critical threshold observed in Pseudonymous crypto trading expert, Nebraskangooners chart pattern analysis on June 27. 

Stellars (XLM) price is now changing hands at $09974, trading above the 50-day and 200-day Simple Moving Averages on its TradingView daily chart.

This current trend suggests more bullish moves in the short and long term. Also, its Relative Strength Index at 76 suggests price moves above the overbought region. 

It has smashed the crucial resistance and support levels, claiming support at $0.102456 in the first hours of 28 June, and may soon hit $0.105 if the uptrend continues.

XLM Breaks New Grounds As Stellar Accelerate Network Development

Among the factors fueling the bullish momentum is Coinbases recent integration with Stellar.org. On June 23,...

The latest price moves in bitcoin (BTC) and crypto markets in context for June 28, 2023. First Mover is CoinDesks daily newsletter that contextualizes the latest actions in the crypto markets.

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BTC/USD chart (TradingView)

New FTX CEO John J. Ray III (C-Span)

Azuki Elementals (OpenSea)

Atmosphere (Shutterstock/CoinDesk)

In the crypto market, keeping an eye on the moves of the whales individuals or entities holding large quantities of digital assets, can often provide insights into asset market trends such as Ethereum (ETH) and PEPE.

Earlier today, blockchain tracking firm Lookonchain spotted a major shift involving a substantial exchange between leading cryptocurrencies. The tracker detected a transaction where a whale divested significant holdings of Chainlink (LINK) and Binance Coin (BNB) to acquire a massive amount of Pepe (PEPE) and Ethereum (ETH).

Swapping LINK And BNB For PEPE And ETH

Lookonchains tweet disclosed the surprising revelation that the whale withdrew 1.93 trillion PEPE, roughly equating to $3.03 million, from leading crypto exchange Binance within the last day.

Related Reading: PEPE Coin Shines Among Top Gainers, Tallies 78% In Last Week

This immense withdrawal has been made possible by liquidating considerable positions in LINK and BNB.

A whale withdrew 1.93T $PEPE ($3.03M) from #Binance 11 hrs ago.

The whale appears to have sold 97,735 $LINK ($592K) and 9,883 $BNB ($3.01M) at a loss of ~$342K, swapping all positions for 1.93T $PEPE ($3.03M) and 227 $ETH ($424K).https://t.co/J7GIyl6di8 pic.twitter.com/MrNQcnLEpC

Lookonchain (@lookonchain) June 28, 2023

According to the report, the whale sold...

Chainlink

(David Becker/Getty Images)

Serious crypto investors think memecoins are stupid. But smart people are making serious money from dumb memecoins. Heres how.

Sid Powell, CEO of Maple Finance (Maple Finance)

Decentralized network. (Shubham Dhage/Unsplash)

Andrei Grachev Managing Partner DWF LABS (LinkedIn, Modified by CoinDesk)

Open-sourcing crypto wallet designs offers some benefits, but there are trade-offs as well.

With this move, the European Commission aims to open up the payments market controlled by banks, Visa and Mastercard.

The move provides PAX coin access to Mexicos 3.1 million-plus cryptocurrency users.

<p>Data from Glassnode shows the Bitcoin correlation to Gold and Silver has taken a plunge toward cyclical lows recently.</p> <h2>Bitcoin Correlation With Gold & Silver Has Now Turned Negative

According to data from the on-chain analytics firm Glassnode, the latest price action in BTC has decoupled the cryptocurrency from commodities such as Gold and Silver.

The <a href= "https://www.newsbtc.com/news/bitcoin/bitcoin-up-fed-rate-reveal-correlation-stocks-over/" rel="noopener" target="_blank">correlation</a> here is an indicator that tells us how closely Bitcoin has been moving with any particular asset, over a given time period. In the context of the current discussion, the 30-day time period is of interest.</p> <p>When the value of the correlation is positive, it means that the cryptocurrency is mimicking the movements of the other asset currently. Negative values of the indicator, on the other hand, suggest BTC has been moving in the opposite direction to the commoditys price.</p> <p>Naturally, the higher the value of the metric (whether on the positive or the negative scale), the stronger the response of Bitcoin to movements in the asset in question.</p> <p>The correlation can also attain a value of zero during periods where there isnt any discernible pattern between the prices of the two assets (like when one of the assets moves sideways while the other is experiencing some kind of volatility).</p> <p>Now, here is a chart that shows the trend in the Bitcoin 30-day correlation to Gold and Silver over the last few years:</p> <p><img alt="Bitcoin 30-day correlation" class= "alignnone aligncenter" height="2334" src= "https://pbs.twimg.com/media/Fzn7TzlXsAAJp0K?format=jpg&name=4096x4096" width="4053"></p> <p>As displayed in the above graph, the Bitcoin 30-day correlation to both Gold and Silver had been high just recently, but with the <a href= "https://www.newsbtc.com/bitcoin-news/momentum-why-the-bitcoin-train-station/" rel="noopener" target="_blank">latest surge</a> in the cryptocurrency, the indicators value has taken a deep hit.</p> <p>Following this plunge, the metrics value has fallen inside the negative territory for both these assets, with BTCs correlation to XAU (the price of one troy ounce of Gold) hitting -0.78, while that to XAG (one ounce of Silver) going even deeper to -0.90.</p> <p>In the case of Gold, the correlation between the two assets is now close to the cyclical lows, while for Silver, the indicator has already set a new cyclical low with this plummet.</p> <p>Bitcoin is currently showing such a highly negative correlation to these commodities because of the fact that their prices have been going down recently, while the cryptocurrency has...

(Cleveland Trust Co., modified by CoinDesk)

Carbon credits (Nature Design/Pixabay)

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The collaboration intends to bring changes to public administration and the business sector.

Michael Saylor, executive director, MicroStrategy (Marco Bello/Getty Images)

Gain insights into the key milestones and trends that have shaped the internet into the global phenomenon it is today.

In the fast-paced world of Bitcoin mining, recent unusual activity has caught the attention of cryptocurrency watchers. Particularly, a surge in exchange interactions has been observed, with Bitcoin miners sending a record amount to exchanges.

Prominent on-chain analytics firm, Glassnode, has been at the forefront of tracking these transactions. In a recent tweet, the firm reported that Bitcoin miners have been engaging in a noteworthy level of interaction with exchanges, transferring an all-time high of $128 million worth of Bitcoin.

Exceptional Exchange Activity By Miners

The significant update found in this report is the amount of funds involved. According to Glassnode, the $128 million sent to exchanges by Bitcoin miners represents 315% of their daily revenue.

The on-chain analytics firm tweeted:

Bitcoin Miners are currently recording extremely high Exchange interaction, sending an ATH of $128 million to Exchanges, equivalent to 315% of their daily revenue.

Typically, the transfer of coins from miner or investor wallets to exchanges is perceived as an intention to sell or liquidate coins. However, in this context, it can also be seen as a reflection of optimism about Bitcoins future price potential.

Implications And Market Perception

The mining revenue in the Bitcoin network is intimately linked with the price of Bitcoin. Therefore, miners tend to increase their sales when they perceive the market to be robust enough to absorb the additional supply. This recent move could indicate strong confidence in the current market strength.

Glassnode, in additional tweets, points out a growing trend of strong accumulation and a shift towards self-custody, especially in the wake of the recent LUNA debacle and FTX fallout. This suggests an increasing trend among investors and miners towards maintaining control of their own assets as opposed to relying on third-party custodians.

Regardless, Bitcoin has seen a slight decline in the past 24 hours, down by 0.6% with a trading price still above the recently reclaimed $30,000. Prior to the retracement, Bitcoin has since been on an...

While fiat channels remain the dominant tool for criminal financing, Bitcoin appears to have fallen out of favor for criminals as far as cryptocurrencies go.

This is an opinion editorial by Mark Maraia, a professional development author and Bitcoin researcher.

For years, Bitcoiners have been telling almost everyone who would listen that bitcoin is undervalued. Any Bitcoiner who's done the research knows that bitcoin the asset is radically undervalued. And I wholeheartedly agree! But even though bitcoin, the asset, is undervalued, it pales in comparison to how much the Bitcoin network is undervalued. I have long held that Bitcoiners, as a group, are undervaluing the Bitcoin network as much or more than no coiners are undervaluing bitcoin the asset.

So, it is with some amusement that I observe the fierce debate between the Bitcoin purists who believe that the use of the Bitcoin network (i.e., the immutable digital ledger) is only for sending value (bitcoin), and the inscriptions, Ordinals and BRC token crowd which says and does otherwise.

In my opinion, what most Bitcoin purists are missing is the difference between bitcoin the asset and the immutable digital ledger, also called the timechain. The highest and best use for the immutable ledger is holding and sending value, but it is not the only use, as inscriptions and BRC tokens are showing us.

In addition, Ive always thought of the network and protocol (the immutable digital ledger) as a place where I can post a message that cannot be changed. Hence, when the Declaration Of Monetary Independence (DoMI) was first published on October 31, 2021, I had a fellow Bitcoiner make permanent note of it in the timechain.

I believe it can be found at block height 707,575. And when we Bitcoin 2023 event, I had another Bitcoiner create an inscription for it. Both can now be found on the immutable ledger. I totally understand why many want to use the timechain only for money, but I consider it naive to think it will only be used for that purpose.

One Mans Nonsense Is Another Mans Meaning

Where I get worked up is in how little the market (all of us) values the timechain. In my opinion, there isnt a single person on the planet who values the network properly yet.

What inscriptions and BRC tokens do is increase the perceived value of the timechain. Overall, thats a plus. Until the network is valued at 250 sats per $1, its insanely underpriced!

Even in the era of inscriptions and BRC tokens, the immutable ledger is still radically undervalued and the cost for putting data on it is way below where an intelligent market will put it.

Its as if Satoshi Nakamoto invented two things: One, a new kind of scarce digital money and two, an immutable ledger to keep trac...

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"Zen will no longer be considered a privacy coin." (Nghia Do Thanh/Unsplash)

EU officials are touting the benefits of a digital euro. (Ervins Strauhmanis/Flickr)

Certain members holding high positions within the firm bill an hourly rate exceeding $2,000 for their professional services.

(Shutterstock)

The Data Act was first proposed in early 2022 and passed by the European Parliament on March 14.

After the Bitcoin price hit a new yearly high of $32,410 last Friday, June 23, the price rally has stalled for the time being. While the long-term outlook looks extremely bullish due to various Bitcoin spot ETF applications, there are currently a few reasons in the short-term which prevent a continuation for now.

Today, Wednesday, June 28, several negative news are weighing on the markets sentiment. First and foremost, the depegging of the fourth largest stablecoin by market cap, TrueUSD (TUSD), may have unsettled investors. As Bitcoinist reported earlier today, the latest revelations surrounding Prime Trust have raised new doubts that TUSD is fully backed with reserves.

Remarkably, TUSD is the most important trading pair (BTC/TUSD) in the entire market, with around 15% and $2.6 billion in trading volume on Binance in the last 24 hours. The rumors could have a negative impact, as shown by previous stablecoin depeggings by USDT and USDC.

TUSD depegging: New crypto drama unfolding?

1/@adamscochran raises several red flags:

Auditor who attested $TUSD audits (in Prime Trust) is the rebranded old FTX US auditor Oracle price is obtained from a single entity Bank partners are unknown

Jake Simmons (@realJakeSimmons) June 28, 2023

Another factor that is probably having a negative impact on the Bitcoin price is the behavior of Bitcoin miners. As Glassnode reports today, Bitcoin miners are currently experiencing extremely high interaction with exchanges, sending an all-time high of $128 million in BTC to exchanges, representing 315% of their daily revenue.

...

Sydney Opera House in Australia (Stanbalik/Pixabay)

Bitpanda Pro CEO Joshua Barraclough will head One Trading (One Trading)

KuCoins Know Your Customer checks will require new users to complete identity verification to access all services, while existing non-KYC users will not be able to deposit.

Cardano (ADA) has found itself in the midst of a regulatory storm as two prominent exchanges in the United States have attracted the attention of the Securities and Exchange Commission.

The SEC has not only focused on these exchanges but has also classified certain altcoins, including Cardano (ADA), as securities. Consequently, ADA has been directly affected by the recent scrutiny imposed by the SEC.

In response to the SECs statements, the team behind Cardano has issued a statement expressing their disagreement with the regulatory bodys position. However, it appears that the consequences of the SEC scrutiny are starting to manifest. 

The latest reports indicate that specific Cardano trading pairs will be delisted from Huobi, a development that has very little impact on the price of ADA.

Market Reaction And Impact On Cardano (ADA) Price

Despite the recent news of specific ADA trading pairs being delisted, the market response has been relatively subdued. The current price of ADA on CoinGecko stands at $0.27, reflecting a decline of 1.8% in the past 24 hours. However, it is worth noting that this price movement cannot be solely attributed to the delisting announcement.

The removal of the ADA trading pair from Huobi has had a minimal impact on the overall price of the token. Despite concerns surrounding regulatory scrutiny and delisting actions, Cardano has managed to maintain a crucial price level. It demonstrates resilience in the face of adverse developments and suggests that market participants are not reacting significantly to the specific delisting news.

...

Weak derivatives metrics, and declining TVL and DApps use, put Ethereum bears in a better position to keep ETH price below $2,000.

The U.K. Law Commission wants crypto and NFTs to attract property law rights (Reinaldo Sture/Unsplash)

BlockFi creditors say they're paying to improve company staff's golf game (Hebi B/Pixabay)

Flag of Israel (Eduardo Castro/Pixabay)

The XRP community continues to eagerly await a ruling in the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). So far, all speculations about a supposed end date have been wrong. The judge in charge, Analisa Torres, is taking more time for her ruling than many legal experts predicted based on previous proceedings.

However, this does not stop lawyer John E. Deaton, who is representing the XRP army in the legal case as amicus curiae, from making a new prediction. In the latest CryptoLaw broadcast, lawyer Deaton speculated that Judge Torres will issue the summary judgment on September 6, 2023.

Ripple Vs. SEC: Why September 6 Might Be The End Date

In the live stream, the lawyer explains that he has tried to give a prediction for a verdict date several times in the past. For this, he looked at Judge Torres previous proceedings. The finding was that Torres ruled at different speeds once the Daubert/expert motions were decided: sometimes it was on the same day, in other cases it was after two, four and six months respectively.

Based on this, Deaton made the prediction that Judge Torres will rule on May 6, by early June at the latest (the average: three months). As a reminder, Torres ruled on the Daubert motions in the case between Ripple and the SEC on March 6 this year.

Now that those deadlines have passed, Deaton came up with a new prediction: according to the lawyer, Judge Torres will issue a summary judgment after the full six months, on September 6 this year. As Deaton also pointed out, the length of the litigation between Ripple and the SEC is within the usual range so far and does not take longer than other cases.

In another comment, Deaton noted that Judge Torres may delay the ruling because she understands the importance of the SEC v. Ripple case. She knows that thousands of people, including the appellate courts, will be reviewing her summary judgment decision in the Ripple case. She also has a staggering 500 open cases to decide, 44 of which are criminal cases.

Ripple: Waiting on a Decision https://t.co/ty0LG3AASV

CryptoLaw (@CryptoLawUS) June 27, 2023

XRP Price Loses Steam

The delay of the ruling in the legal battle between Ripple and the SEC seems to have upset XRP investors. A look at the 1-day chart of XRP shows that the price is in a descending trend channel after the price failed to break above the resistance at $0.50 in the higher time frames over the past two weeks.

A breakout from the trend channel is crucial to make a new run towards resistance at $0.50. Currently, XRP is testing the middle line of the trend channel. A break below $0.4730 could mean a further drop towards the lower...

The deal includes an investment of $3.5 million, a Sony executive moving to Startale Labs and collaboration on new Web3 tools for mass adoption.

A typical mining setup. (Sandali Handagama)

bull and charts (Shutterstock)

Bitcoin Cash (BCH) recently experienced a remarkable surge, registering more than 100% increase. As one of the leading digital currencies, Bitcoin Cash has often been compared to its predecessor, Bitcoin (BTC), but it has also carved its own path in the ever-evolving crypto landscape.

BCH, a cryptocurrency born out of a hard fork from Bitcoin in August 2017, shares the same underlying technology as its predecessor but aims to address some of the scalability issues that Bitcoin faced.

With its larger block size and faster transaction times, Bitcoin Cash aimed to become a more efficient and accessible form of digital currency. However, it has faced its fair share of scrutiny and volatility over the years. 

Now, with its recent meteoric rise, the question on everyones mind is: What factors are driving this surge in Bitcoin Cashs price, and what does it mean for the future of this digital asset?

Bitcoin Cash Emerges As Top Performer

Bitcoin Cash BCH has exhibited an exceptional performance, positioning itself as one of the leading performers over both short and long timeframes. Over the past seven days, BCH has shown an impressive surge, soaring by a remarkable 106.3%.

Even in the past 24 hours, it remains a top contender with a gain of 2.8%, defying the prevailing sentiment of stagnation observed in recent days. The current trading price for BCH, according to CoinGecko, stands at $226.69, further solidifying its upward trajectory.

Meanwhile, Bitcoin, the flagship cryptocurrency, experienced a significant breakthrough by surpassing the $30,000 mark with remarkable momentum, briefly breaching the $31,000 threshold before the start of the weekend.

However, the bullish momentum was unable to sustain itself, leading to a resurgence of selling pressure and subsequently pushing the price back towards the $30,000 level. At the time of writing, the primary cryptocurrency is trading around $30,444, reflecting a meager setback in its upward trajectory.

Factors Driving BCH Price Surge

Recent dev...

The EU is looking to govern data from connected devices (Pete Linforth/Pixabay)

Bloombergs senior ETF analyst believes BlackRock has an even chance of getting its Bitcoin ETF green-lit, as Grayscale looks more likely to win its case against the Securities and Exchange Commission.

Money Cash Currency Bills (Pixabay)

Voyager's bankrupcy has left creditors in the lurch. (Danny Nelson/CoinDesk)

Bitcoin miners have sent up to 315% of their daily revenue to exchanges but BTC prices are yet to react.

An altcoin with a long and storied history, Monero is currently running to the upside in a way it never has before. After closing higher for twelve consecutive days a new record for the privacy-focused altcoin Monero looks poised to once again make history with a thirteenth straight higher close. Whats happened after other Monero winning streaks in the past? Lets take a closer look at the price history to find out.

Monero Win Streak Making History

Moneros current winning streak of twelve consecutively higher closes breaks the previous record set in 2021 of ten straight higher closes. While the price advance is clearly impressive, its unprecedented nature means well have to look at earlier and shorter win streaks to get an understanding of what might be ahead for Monero in the future. In other words, well use the prior shorter historical win streaks to generate enough occurrences to make a more statistically meaningful conclusion.

Monero 2023 Winning Streak | XMRUSD on TradingView.com

 

Because the number of occurrences varies based on holding time, well start by listing the number of times that six straight higher closes has...

Chainlinks LINK price is showing positive signs above $6.00. The price could rise further if it clears the $6.30 and $6.50 resistance levels.

• Chainlink token price is showing positive signs and rising from $5.00 against the US dollar.
• The price is trading above the $6.00 level and the 100 simple moving average (4 hours).
• There was a break above a major bearish trend line with resistance near $5.10 on the 4-hour chart of the LINK/USD pair (data source from Kraken).
• The price could extend its recovery and rally toward the $8.0 resistance zone.

Chainlink (LINK) Eyes More Gains

After a major decline, LINK price found support near the $5.0 zone against the US Dollar. A low was formed near $5.004 and the price started a fresh increase, similar to Bitcoin and Ethereum.

There was a clear move above the $5.10 and $5.50 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $5.10 on the 4-hours chart of the LINK/USD pair. The upward move gained pace above the $5.80 resistance.

LINK even jumped above $6.0 before the bears appeared. A high is formed near $6.37 and the price is now consolidating gains. Chainlink price is now trading above the $6.00 level and the 100 simple moving average (4 hours).

It is also showing positive signs above the 23.6% Fib retracement level of the upward move from the $5.00 swing low to the $6.37 high. On the upside, the price is facing resistance near the $6.35 zone.

Source: LINKUSD on TradingView.com

The first major resistance is near the $6.50 zone. A clear break above $6.50 may possibly start a fresh increase toward the $7.20 and $7.25 levels. The next major resistance is near the $7.80 le...

1.00 AUD = 0.00002 BTC
0.00010 BTC = 4.55 AUD
Converter

0.00010 BTC = 3.05 USD
1.00 USD = 0.00003 BTC
Converter

Sui was accused of dumping locked and non-circulating staked SUI tokens on Binance.

The lawsuit claims that former compliance officer Daniel Friedberg paid whistleblowers to stop them from exposing the true fraudulent nature of the exchange.

Multiple buyers were reportedly eyeing up FTXs stake in the AI firm that was being sold off to recover funds for creditors.

Bitcoin 4-hour chart. (CoinDesk Indices)

Michael Shaulov believes that while recent Bitcoin ETF filings could see new institutional money flow to Bitcoin, that in itself didnt drive previous price surges.

Michael Sonnenshein, CEO, Grayscale Investments and Laura Shin, Podcast host and author, Unchained (Shutterstock/CoinDesk)

Yat Siu, co-founder and executive chairman of Animoca Brands, which is based in Hong Kong. (Shutterstock/CoinDesk)

Twitter users noticed thousands of Safe deployments to Optimism, leading to speculation that it may be an attack, but the developer of Worldcoin confirmed that this activity was merely an app migration.

FTX founder Sam Bankman-Fried (Michael M. Santiago/Getty Images)

Prime Trust Consensus Booth (Prime Trust)

The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto.

The new exchange does not custody customer funds itself to avoid a conflict of interest and a hot-button issue with the SEC.

Ripio founder and CEO, Sebastian Serrano. (CoinDesk Archive)

Nevada's Financial Institutions Division has taken legal action against Prime Trust LLC, filing a court petition to place the company in receivership. The Division cited concerns about Prime Trust's unsafe and unsound operations as well as its insolvency. This move follows a Cease-and-Desist Order issued on June 21, 2023.

The court petition revealed that the company owes more than $82 million in fiat cash, and that the company lost access to what it describes as legacy wallets holding cryptocurrency in 2021.

The petition states: 

"In January 2021, PRIME reintroduced specific legacy wallet forwarding addresses to customers (Legacy Wallets). It is understood PRIME did so because of limitations associated with creating new wallets within the Fireblocks platform. PRIME purportedly believed that these legacy wallets existed on the Fireblocks platform or were configured to forward to wallets accessible on the Fireblocks platform. However, it is understood that on or about December 2021, PRIME discovered that it was unable to access the Legacy Wallets and the cryptocurrency therein. It is understood that from December 2021 to March 2022, to satisfy the withdrawals from the inaccessible Legacy Wallets, PRIME purchased additional digital currency using customer money from its omnibus customer accounts. PRIME is reported to have been making efforts to regain access to the Legacy Wallets. However, as of the date of this Petition, PRIME has been unable to do so.

On top of this previously unknown blunder, the petition detailed the unsafe financial state of the firm, saying: 

In addition to the above, it is reported that the frequency of customer withdrawals from PRIME have recently increased. Furthermore, many of the withdrawals were for large sums. As such, at or about the time of the instant Petition, it is understood that PRIMEs financial status is such that it owes, in fiat currency, $85,670,000 to its clients but has $2,904,000 in fiat currency (equaling an $82,766,000 fiat currency liability). As to digital currency, PRIME owes $69,509,000 to its clients but only has $68,648,000 in digital currency As such, PRIME would be unable to satisfy all of its withdrawals.

According to the released statement, the Division's petition seeks the appointment of a receiver who will assume control over Prime Trust's day-to-day operations and conduct a thorough financial examination. The receiver will then determine the best course of action to protect the company's clients, which may involve rehabilitating Prime and returning it to private management or liquidating the company altogether.

In a statement, the Nevada Financial Institutions...

The launch announcement followed expansion moves by Bitfinex into El Salvador and Chile through licensing and partnerships, respectively.

Azuki Elementals (OpenSea)

(BlackSalmon/Getty Images)

Fidelity Investments sign (Jonathan Weiss/Shutterstock)

Quivr allows users to connect multiple apps, including Spotify, Steam and Instagram, to generate behavior-based badges proving their interests.

(Unsplash)

Former Twitter CEO Jack Dorsey appears at a Bitcoin conference in Miami in 2021. (Photo by Joe Raedle/Getty Images)

The permissionless, collateralized fixed-rate borrowing and lending market restored operations in May and will now switch out user tokens worth $1.5 million.

Sam Bankman-Fried leaving court on February 16, 2023 (Liz Napolitano/CoinDesk)

More than $208.5 million was lost initially, but approximately $4.5 million was recovered, making the total amount of unrecovered funds over $204 million.

Former FTX CEO Sam Bankman-Fried will likely still face 13 criminal counts over two separate trials starting in October 2023 and March 2024.

AhmadArdity /Pixabay)

Robinhood website on laptop (Unsplash)

Decentralized financial ecosystem continues to develop in complexity, and it is important to address emerging risks, said FSA official Mamoru Yanase.

A popular name on Twitter, trader Michal van de Poppe was interviewed for the 10th episode of Cointelegraphs Crypto Trading Secrets podcast.

In a recent interview with Vishal Sacheendran, Director of MENA and Europe at Binance, he provided insights into the upcoming Markets in Crypto Assets (MiCA) regulation in Europe. Vishal, who previously worked for a financial regulator in Abu Dhabi, explained that MiCA is a comprehensive set of regulations for cryptocurrencies that treats them as financial services. He highlighted that MiCA brings uniformity to the registration and anti-money laundering requirements for crypto asset service providers across Europe, allowing for passporting of licenses throughout the region.

When asked about the impact of MiCA on Bitcoin specifically, Vishal stated that MiCA does not differentiate between different cryptocurrencies and treats them all equally. He mentioned that while MiCA is not the first regulatory framework in the world, it is the first in Europe and similar to what the UK is doing with its regulation.

Regarding the implications for companies operating as crypto asset service providers (CASP), Vishal explained that they will be regulated based on the services they provide rather than the underlying asset class. ...your cap requirements, your risk mitigations, everything is around the services that you're doing. Different services such as custody, trading platforms and advice will have specific requirements and risk mitigations.

Vishal also mentioned that the MiCA regulation will have varying requirements based on the size of the service providers. Larger providers will have more capital and governance controls to ensure consumer protection. He noted that there is still more to come in terms of guidelines for marketing and treatment of stablecoins and NFTs, remarking that There will probably be separate tools developed for them in the future, but not yet.

When asked about the regulatory environment in Europe compared to the U.S., Vishal emphasized that regulators often need time to catch up with innovation, and the power of innovation drives the industry. He believes that Europe's crypto-friendly regulations have been attracting firms and he expects more players to set up shop in the region. It's just a matter of time before you see a lot more of these players and new startups coming up with new, more innovative products or services, Vishal stated.

In terms of the global impact of MiCA, Vishal suggested that other regions may adopt similar regulatory stances or incorporate aspects of MiCA into their own legislation. However, he noted that growing the talent pool within the industry is also crucial for its development.

For everyday cryptocurrency users, Vishal emphasized that they need to understand that industry firms are now treated as financial service providers under MiCA. He also highlighted the importance of the ability to passport licenses and serve the wider European market from a single center.

Overall, the MiCA regulation in Europe aims to provide a comprehensive...

Securities and Exchange Commission Chair Gary Gensler is working to protect someone, but its not American investors.

The report came precisely one year after a court in the British Virgin Islands ordered Three Arrows Capital into liquidation.

(Thought Catalog/Unsplash)

Three Arrows (QuinceCreative/Pixabay)