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The U.S. government has issued a stern warning to cryptocurrency companies, stating that they could face a ban from the U.S. market.  New legislation from Congress has been requested to grant the Treasury the authority to police crypto marketplaces. Binance was described as a tool “used by the perpetrators of child sexual abuse, illegal narcotics trafficking, and terrorism.” The U.S. government claimed that they would ban cryptocurrency companies from the U.S. economy and market if they failed to report and block illicit money flows.  Deputy Treasury Secretary Wally Adeyemo stated that crypto companies need to increase their efforts to curtail the flow of illicit finance. Moreover, Adeyemo added that the lack of action across the crypto sector could potentially present a risk to the U.S. Adeyemo stated his opinion at an event hosted by the Blockchain Association, where he shared that the U.S. government’s actions over the last year “send a clear message.”

The native token of the IOTA distributed ledger ecosystem, also called IOTA, witnessed a sudden rally follow ing the announcement of the new IOTA Foundation in the United Arab Emirates (UAE). IOTA is up by 35% in the past 24 hours and is trading at $0.236 at the time of writing. The asset reached a 10-month high of $0.285 shortly after the big announcement. IOTA’s market cap is currently standing at around $720 million with a daily trading volume of $773 million. IOTA price, social volume and total open interest – Nov. 30 | Source: Santiment Despite the recent rally, IOTA is still down by 95% from its all-time high of $5.69 on Dec. 20, 2017.  You might also like: Pando Asset officially files for spot Bitcoin ETF with the SEC On Nov 29, IOTA announced the launch of the $100 million distributed ledger technology (DLT) foundation regulated with the Abu Dhabi Global Market, called the IOTA foundation .  IOTA is the first #DLT Foundation regulated with @ADGlobalMarket

Game developer Square Enix announced the auction dates for NFTs of its upcoming blockchain game Symbiogenesis. In this week’s newsletter, read about footballer Cristiano Ronaldo facing a lawsuit after promoting nonfungible tokens (NFTs) tied to crypto exchange Binance, and find out how an NFT collector thwarted a hacking attempt by a person impersonating a journalist. In other news, Azuki DAO is rebranding to Bean, game developer Square Enix announces an NFT collection, and one user claimed tokens worth $11 million in the recent Blur airdrop.  Cristiano Ronaldo sued for promoting Binance, unregistered securities Football superstar Cristiano Ronaldo faces a class-action lawsuit for allegedly participating in the sale of unregistered securities in partnership with crypto exchange Binance. The famous football player entered a multiyear partnership with the exchange to promote NFT collections tied to Binance’s NFT-focused arm.   The legal complaint argued that Ronaldo encouraged his milli

SEI reached $0.29 after spot trading on the Upbit exchange increased If rising volume continues to follow the price uptrend, SEI may breach $0.30 Open Interest around SEI increased, suggesting bullish sentiment behind the price action The native token of Layer-1 (L1) blockchain Sei (SEI) increased by 30.93% in the last 24 hours, CoinMarketCap data showed. As a result, SEI’s price hit a new all-time high (ATH) of $0.29. The recent rise in the value brought the 30-day performance of the cryptocurrency to a 156.44% hike. One reason the price of SEI increased was because of its trading volume on the South Korean exchange Upbit. Previously, specifically on August 14, Upbit announced that it had listed the token. At that time, trading of the token against the South Korean Won (KRW) increased. Upbit’s Funds Flow Into SEI After some time, the hype fizzled out. However, according to CoinMarketCap data, SEI’s 280% increase in trading volume was mainly because of the

Ocean, which raised $6.2 million in a funding round led by Jack Dorsey, plans to enable miners to get block rewards directly from Bitcoin. Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey is backing a new BTC mining pool to help miners regain control of block rewards and transaction fees. Dorsey has led a $6.2 million seed round for Mummolin, the parent company of the new decentralization Bitcoin mining pool called Ocean, according to an announcement on Nov. 29. The seed funding will support the launch of Ocean, which is designed to decentralize and reshape the process of Bitcoin mining . The mining pool specifically aims to provide more mining process transparency and enable miners to receive block rewards directly from Bitcoin rather than from BTC mining pools. Luke Dashjr, Mummolin co-founder and long-time Bitcoin Core developer, believes that the role of mining pools must change for Bitcoin to exist as a truly decentralized currency. “Ocean is a new type of p

John Galt, Head of Strategy at Stride, recently revealed that the Inter chain Foundation (ICF) holds a significant 1.6% stake in Celestia (TIA), currently valued at $70 million, in addition to its $125 million holdings in Cosmos (ATOM). This revelation sheds light on the ICF’s extensive holdings amid its decision to back Celestia. Beyond Celestia, the ICF holds assets like Bitcoin (BTC), Ethereum (ETH), ATOM and the USD, totaling $350 million, in its treasury, according to Galt. 1/9 @CelestiaOrg is backed by the @Inter chain _io Foundation (ICF), which funds public goods for Cosmos. The ICF has a 1.6% stake in Celestia, currently worth $70M. Additionally, its treasury also holds BTC, ETH, USD, ATOM – currently worth about $350M. Celestia and the ICF — John Galt (@lurkaroundfind) November 28, 2023 Of the $350 million cumulative holding, Galt emphasized that the ICF spreads its treasury to apportion $125 million to ATOM, another $125 million to both BTC and ETH, and an additi

Spain introduces a new crypto tax regulation requiring residents to declare their crypto currency holdings on foreign platforms by March 2024. Spain has introduced new tax regulations requiring residents to declare cryptocurrency holdings on foreign platforms. This directive was issued by the Spanish Tax Administration Agency, Agencia Tributaria, which has created a specific tax form, Form 721, for declaring virtual assets held overseas.  The regulations stipulate that both individual and corporate taxpayers in Spain must report the value of their cryptocurrency holdings on foreign platforms as of Dec. 31. The reporting period for this declaration begins on Jan. 1, 2024, and concludes at the end of March 2024. You might also like: Changpeng Zhao resigns as chair of Binance.US Notably, the declaration requirement applies to those whose crypto currency holdings exceed €50,000. For those with crypto assets in self-custodied wallets, the existing wealth tax form, Form 714,

Electric Capital Co-Founder Avichal Garg warned the crypto community about a new method fraudsters are using to steal money from investors. Scammers have started pretending to be venture capital firms in a bid to lure crypto startups to believe they’re talking to legit investors. Unfortunately, scammers are pretending to be @ElectricCapital, setting up meetings, and asking people to send them money before investing . Electric Capital will *never* ask you to send money before receiving an investment. We will never reach out cold via Telegram. We almost… — Avichal – Electric ϟ Capital (@avichal) November 27, 2023 In an X post on Nov. 28, 2023 Electric Capital Co-Founder Avichal Garg said fraudsters are now setting up meetings, and “asking people to send them money before investing .” The Electric Capital head emphasized that the Palo Alto-headquartered firm “will never ask you to send money before receiving an investment.” “We will never reach out cold via Telegram. We almos

China is on track with its central bank digital currency trial as final stages are ‘not very far away,’ says ex-PBoC governor . China is approaching the end of its multi-year digital yuan pilot as the “final stage is not very far away,” said Zhou Xiaochuan, who ruled the People’s Bank of China (PBoC) for 16 years up to 2018. According to a report from the South China Morning Post, the former Governor of PBoC noted in his speech at a conference in Hong Kong that the country has already digitized up to 90% of retail payments. Xiaochuan also addressed the international use of central bank digital currencies (CBDCs), saying cross-border payments are a “big business opportunity for many central bankers to consider and to explore.” In addition to international payments, there are also cases where CBDCs could be used for assets tokenization through smart contracts, Xiaochuan said without elaborating on the matter. You might also like: Standard Chartered China provides digital yu

The Shiba Inu (SHIB) crypto currency has been a focal point of interest and speculation within the crypto currency community. As we approach Dec. 1, 2023, market observers are closely monitoring price fluctuations and potential trends. According to the most recent update, the Shiba Inu price has slightly decreased by 4.34% over the last twenty-four hours, settling at $0.00000807 on November 27. Additionally, the token has experienced a 3.7% decline over the past seven days, as indicated by market charts. Market Overview Despite the recent dip in Shiba Inu’s value, the market exhibits significant activity. The twenty-four-hour trading volume has notably surged, registering a 22.64% increase and reaching $189 million. This upswing in trading volume suggests heightened market activity and a potential surge in interest in SHIB. Cryptocurrency experts are preparing to share their projections for the SHIB price in December 2023. According to their analyses, the anticipated minimum tradin

A judge has decided that the ex-chief of Binance, Changpeng Zhao (CZ), must remain in the country while he awaits sentencing for federal crimes. As part of its plea deal, Crypto exchange Binance agreed to pay a $4.3 billion fine for skirting anti-money laundering checks; CZ agreed to step down as its CEO. Now, he faces up to 10 years behind bars. US District Judge Richard Jones ruled on Monday that while awaiting sentencing in February, CZ cannot leave the country. Though he won’t spend his time in prison, he won’t be allowed to fly back home to Dubai. CZ’s lawyers filed a motion on Thursday, arguing that he willingly showed up in court once and will therefore do it again. However, prosecutors argued that CZ poses a significant flight risk if allowed to leave since the majority of his wealth is outside of the country and the UAE has no extradition deal with the US . What’s more, the ex- Binance chief enjoys special stat US in the UAE after obtaining ‘citizenship by invitation

Cryptocurrency exchange HTX, previously known as Huobi Global, has successfully restored its Bitcoin deposit and withdrawal services following a recent security breach. This article delves into the details of the hack, the actions taken by HTX, and the broader security concerns in the crypto industry, particularly those related to Justin Sun-linked entities. #Bitcoin (#BTC) deposits and withdrawals have now been fully reinstated on @HTX_Global. As of now, all major currencies including BTC, ETH, TRX, and USDT are available for complete deposit and withdrawal functionality on HTX. — H.E. Justin Sun 孙宇晨 (@justinsuntron) November 26, 2023 The Road to Recovery HTX was the target of a $30 million exploit on November 22, which marked the fourth incident involving Sun-linked or controlled crypto platforms in just two months. However, the exchange has shown resilience in recovering from these setbacks. In a blog post on November 26, HTX announced restoring deposit and wi

Author: defioasis On November 21, coinciding with the announcement of the end of Blur S2 and the start of S3, Blur’s founder Pacman launched Blast, an OP Rollup-based layer2 with inherent ETH and stablecoin yields, along with the BLUR staking system. Blast secured $20 million in funding from investors including Paradigm and Standard Crypto. Utilizing an invitation mechanism and a point system that rewards transparent airdrops, by November 26, in less than six days, Blast had accumulated over $520 million in funds. This includes more than 220,000 ETH staked in Lido and over 64 million DAI in Maker DSR. Compared to other L2 solutions, Blast has surpassed zkSync Era, becoming the fourth largest L2. However, strictly speaking, Blast cannot yet be classified as L2, but rather as an intermediary contract that deposits and locks assets, allowing deposits but no withdrawals before its mainnet launch. Its basic principle is to accept users’ ETH or stablecoins, staking the ETH in Lido and conver

DappBay, a web3 dApp store for users on the BNB Chain, has flagged over 100 risky decentralized applications ( dapps ) in its recent update.  BNB Chain shared the findings on X (formerly Twitter). See below. DappBay's Red Alarm identified +100 risky dApps this week! They include: Genesis Universe, AIRDROP HUNTER DeXe DAO Studio, Web3 Pilot, Quick Pay, Silo and Crystal. Check out the entire list here and stay safe!https://t.co/dsAe37Ijnh pic.twitter.com/BFGEYsGinH — BNB Chain (@BNBCHAIN) November 25, 2023 BNB Chain launched DappBay in July 2022, allowing users to discover new web3 projects while being kept abreast of their risk levels in real-time. At the heart of DappBay is its Red Alarm component, a risk screening tool that can help identify possible rug pulls and scam projects by checking logic flaws or fraud risks in smart contracts. This tool regularly updates its list with dapps and smart contracts that have been assessed as scams or deemed to carry an extraordinaril

The value of XRP is aligning with the general movement of the cryptocurrency market, even as regulatory uncertainty persists regarding developments in the Ripple and Securities Exchange Commission (SEC) case. Notably, XRP remains below the $0.70 mark, despite Ripple recording several victories in its battle with the SEC. The case continues to cast a spotlight on the potential future valuation of XRP, with the conclusion of the legal matter anticipated to have a widespread impact on the asset’s price . In this context, Finbold consulted the CoinCodex tool, which utilizes artificial intelligence (AI) price prediction algorithms to assess the possible XRP price on a specified date. The tool projects that XRP is likely to trade at $0.66 on Christmas day in 2023, representing minor gains of about 5%. XRP price forecast for the 25/12/2023. Source: CoinCodex The projection comes as some market participants project that XRP is poised for an upswing in its valuation in the coming days.

Shiba Inu drops 6% in a week Toncoin gains 2% over seven days Rebel Satoshi  presale attracting investors The crypto market is currently divided, with major altcoins either experiencing minimal gains or succumbing to renewed bearish pressure.  This bearish sentiment has caused Shiba Inu (SHIB) to decline while Toncoin (TON) struggles to maintain its positive momentum.  Amid this, Rebel Satoshi (RBLZ), an upcoming meme coin, has sold 10 million tokens in its public presale. Shiba Inu drops 6% in a week Over the past week, SHIB has fallen 7% despite initial positive news cycles. On Nov. 15, SHIB was trading at around $0.000008371. It briefly spiked to $0.000009118 following announcements of a partnership between Shibarium and the Manny Pacquiao Foundation but failed to sustain those gains. You might also like: Shibarium sees surge in daily transactions as SHIB gains 15% in a week As of Nov. 22, SHIB had stabilized around $0.000007808 as volatility cooled and transact