The latest report on nonfarm payrolls revealed that job additions in June were below economists’ expectations. With an increase of 209,000 jobs, the figures indicate a cooling labor market. However, market observers remained concerned about the average hourly earnings growth, which held steady at 0.4% from May and 4.4% from a year ago. Despite these
Digital Currency Group (DCG) has responded to a lawsuit filed by Gemini, accusing the company of defrauding its creditors. In the lawsuit, Gemini claims that DCG and its CEO, Barry Silbert, orchestrated and directly perpetrated a fraud against creditors. Specifically, Gemini alleges that Silbert pushed to continue the Earn program despite being aware of Genesis’
Bitcoin (BTC) and other digital assets, such as Tether (USDT), are currently being traded at an 8% discount on the Binance.US platform. The reason behind this situation is the liquidity problems that have arisen following a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). This discrepancy can be observed by comparing the trading
U.S. Senator Tommy Tuberville of Alabama and Congressman Blaine Luetkemeyer have taken steps to request an investigation into Prometheum, Inc. by urging Attorney General Merrick Garland and Securities and Exchange Commission (SEC) Chair Gary Gensler to look into allegations of false testimony to Congress and potential violations of U.S. securities laws. In a letter dated
Investor Luke Broyles has made a bold prediction that Bitcoin (BTC) will absorb all prosperity gains in the future, leaving those without exposure behind. In a Twitter thread on July 8, Broyles outlined his vision of Bitcoin becoming “society’s base money.” While initially discussing artificial intelligence (AI) and its relationship with Bitcoin, Broyles expanded on
Binance, one of the largest cryptocurrency exchanges, has experienced a significant decline in users’ crypto assets following regulatory challenges in various jurisdictions. The latest proof of reserve snapshot taken on July 1 revealed that users’ Bitcoin deposits fell by 3.5% from 614,800 BTC recorded on June 1 to 592,450 BTC. This indicates that approximately 22,000
The South Korean financial regulator has made it mandatory for its employees to declare their cryptocurrency holdings following the “Coin Gate” scandal. Lawmakers in the country have faced allegations of insider trading, with one Member of Parliament (MP) accused of selling tokens prior to the implementation of a new crypto regulation. The MP was discovered
Bitcoin experienced a slight decrease in price this week, but various indicators suggest that $30,000 will likely serve as a support level in the future. Over the course of 15 days leading up to July 7, Bitcoin remained within a narrow range of 4.3%. Despite this, the unsuccessful attempt to break above $31,400 on July
Executives in the crypto industry remain positive about the long-term prospects of the sector, despite a decline in venture capital funding. According to data from RootData, a crypto data provider, the second quarter of last year saw the lowest amount of funds raised by crypto firms since tracking began in Q3 2021. During this period,
The Commodity Futures Trading Commission (CFTC) has recently uncovered violations of US regulations by crypto lending platform Celsius Network. This investigation has also implicated the firm’s former CEO, Alex Mashinsky, according to a report by Bloomberg. If the CFTC’s commissioners agree with the findings of the investigation, legal action against Celsius and Mashinsky may commence