Binance, one of the world’s largest cryptocurrency exchanges, experienced a significant decrease in spot trading volume during the second quarter of this year. The decline, amounting to nearly 70%, can be attributed to various factors, including the reintroduction of fees for its most liquid Bitcoin (BTC) pairs. This article explores the reasons behind this decline
The CEO of the Digital Currency Group (DCG), Barry Silbert, has been issued an ultimatum by Cameron Winklevoss, the co-founder of the Gemini cryptocurrency exchange. Winklevoss publicly announced Gemini’s “best and final offer” for debt restructuring in an open letter on July 4. Silbert was given a tight deadline of just two days to respond.
Mastercard’s chief digital officer, Jorn Lambert, believes that blockchain technology has the potential to revolutionize the payments industry. However, he emphasizes the need for “financially-regulated applications” and “central bank-backed money” to achieve mainstream adoption. In an interview with PYMNTS, Lambert expresses confidence in the integration of digital assets and blockchain technology within the Internet of
There has long been a belief that when the U.S. dollar weakens against other major global currencies, it has a positive impact on Bitcoin. Conversely, when the dollar strengthens, Bitcoin tends to decline in value. This theory is often supported by looking at the Dollar Strength Index (DXY) and Bitcoin price movements. For example, when
Circle, a prominent provider of the USDC stablecoin, seems to have set its sights on the significant portion of trade invoicing in the Asia Pacific (APAC) region that has been conducted in US dollars for the past two decades. According to estimates from the Federal Reserve (FED), around 74% of APAC trade invoicing between 1999
Top executives at Ripple, Andrew Whitworth and Susan Friedman, have commended the United Kingdom for its progressive stance on cryptocurrency regulations. They argue that the UK is surpassing the United States in terms of crypto-related policies. This praise comes in response to the Royal approval of the Financial Services and Markets Bill, which officially regulates
Over the weekend, the Poly Network fell victim to a hacker who managed to exploit the system and make off with nearly $10 million worth of ETH. Beosin, a security firm, was the first to reveal this breach. The attack allowed the hacker to mint an astonishing $34 billion worth of cryptocurrency. Poly Network, a
Bitget, a prominent crypto derivatives exchange, has recently introduced its innovative Crypto Loans program. This new program provides users with the opportunity to stake their own coins in exchange for loans in another cryptocurrency. The primary objective of the platform is to cater to borrowers who are dissatisfied with traditional lenders, offering them a more
Coinbase, a leading cryptocurrency exchange, has announced its intention to modernize the direct deposit system by implementing blockchain-based stablecoin settlements instead of the traditional ACH deposits. Yuga Cohler, a senior software engineer at Coinbase, outlined in a blog post that the company aims to update the financial system and promote global adoption of cryptocurrencies, all
Delio, a prominent crypto lending firm based in South Korea, is currently facing scrutiny from the country’s Financial Services Commission (FSC) over allegations of fraud, embezzlement, and breach of trust. The investigation was triggered by Delio’s unilateral decision to suspend users’ deposits and withdrawals on June 14, causing concern among investors. The FSC is examining