Tag: gemini

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Binance Doesn’t See Viable Business in India – Top Crypto Updates

Binance doesn’t see viable business in India: CZ

“To be honest, I don’t think India is a very crypto-friendly environment,” said Binance CEO Changpeng “CZ” Zhao. He blamed the country’s high tax environment for making the market not so viable for global players. “If you are going to tax 1% on each transaction, there is not going to be that many transactions,” said CZ. Binance, the world’s largest crypto exchange by volume, is still operational for users in India.

Crypto prices today: Bitcoin up 1.24%, ETH rises 1.1%

Bitcoin is currently trading at $16,796.62, an increase of 1.24% over the previous day. Ethereum rose 1.18% over the last 24 hours to $1,218.61. Solana fell 4.06% to $13.7, while Cardano is trading higher by 0.5% at $0.329. Avalanche (AVAX) rose 0.12% to $13.18. The global crypto market cap stands at $836.89 billion, a 1.03% increase over the previous day.

‘Severe’ outflows from Gemini, OKX, and Crypto.com: JP Morgan

JPMorgan analysts reported that investors are pulling funds out of major crypto exchanges as a result of the collapse of FTX. All major exchanges experienced outflows last week but Gemini, OKX, and Crypto.com had the most “severe” draining of funds. Analysts also said that the stablecoin market is getting smaller—and this may continue to hurt the price of other major cryptos like Bitcoin. 

Bahamas regulators confirm they directed SBF to move assets

The Securities Commission of the Bahamas said it ordered the contents of FTX’s crypto wallets to be transferred to government-controlled wallets on the previous Saturday. The regulator made the order under existing authorities that allow for it to take action if it needs to protect clients or their funds. It’s also unclear whether and when exactly these transfers may have occurred.

Solana NFT protocol Metaplex announces layoffs

Solana NFT protocol maker Metaplex has undergone a company-wide round of layoffs, as FTX’s collapse continues to spread across the Web3 ecosystem. In the days following FTX’s collapse, SOL dropped a staggering 60% in value. Metaplex’s layoffs are yet another data point in the still-to-be-accounted-for ripple effects of the collapse. 

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Gemini Expands to 5 More EU Nations – Top Crypto Updates

Crypto exchange Gemini expands to 5 more European nations

Crypto exchange Gemini has expanded its offerings to five more European countries, bringing its presence on the continent to 12 nations. Traders in Croatia, Cyprus, Hungary, Romania, and Slovenia can access the over 100 cryptos available on the platform. Gemini will accept euros and pounds.

Crypto prices today: Bitcoin falls 4.5%, ETH down 5%

Bitcoin is currently trading at $19,841.79, a decline of 4.47% over the previous day. Ethereum fell 4.95% over the last 24 hours to $1,493.33. Solana crashed 10.99% to $28.03, while Cardano is trading lower by 4.07% at $0.386. Avalanche (AVAX) fell 7% to $16.86. The global crypto market cap stands at $981.56 billion, a 4.5% decline over the previous day.

Investors withdraw millions from FTX as Binance begins liquidating FTT token

After Binance CEO Changpeng Zhao declared that his company is liquidating its holdings of FTX’s native exchange token FTT, mass withdrawals from FTX have accelerated. Weekly stablecoin outflows from FTX stood at a whopping $451 million. Meanwhile, Binance has seen net inflows of more than $411 million over the same period.

Bank of Korea tested NFT trading, remittances with CBDC: Report

As per reports from a local media outlet in South Korea, the Bank of Korea (BoK) has developed and tested a program that facilitates cross-border remittances by linking different central bank digital currencies (CBDC) from other countries. The central bank had recently completed a 10-month experiment into a digital South Korean won. It also tested the use of its CBDC to purchase non-fungible tokens (NFTs).

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Gnosis Safe to Airdrop 50 Million ETH Tokens to Wallets – Top Crypto Updates

Gnosis safe to airdrop 50 million ETH tokens to wallets

Gnosis Safe has announced plans to airdrop 50 million SAFE tokens to thousands of Safe wallets to ensure the successful launch of its decentralised autonomous organization (DAO). The firm uses smart contracts to support its multi-signature wallet, which requires more than one person’s signature to execute transactions. Gnosis Safe allows users to securely store Ethereum, ERC20 tokens and interact with decentralised applications.

Crypto prices today: Bitcoin falls 6%, ETH down 5%

Cryptocurrencies have fallen sharply, with sudden selling dragging Bitcoin to a three-week low.

Bitcoin is currently trading at $21,953.99, a decline of 6.2% over the previous day. Ethereum fell 5.25% over the last 24 hours to $1,748.29. Solana crashed 10.15% to $36.23, while Cardano is trading lower by 11.8% at $0.475. Avalanche (AVAX) is down 13.5% to $22.32. The global crypto market cap stands at $1.05 trillion, a 6.25% decline over the previous day.

Huobi Bitcoin Exchange’s HUSD stablecoin loses Dollar peg

HUSD has become the latest stablecoin to lose its peg with the U.S. dollar, crashing more than 14.7% on Thursday. Issued by Hong Kong-based Stable Universal, HUSD is an ERC-20 token on the Ethereum blockchain. It is marketed as a “safe and secure stablecoin” that combines the stability of the U.S. dollar with the efficiency of blockchain technology.

Gemini to offer staking support for investors

Crypto exchange Gemini will offer support for clients throughout the U.S., Singapore, and Hong Kong to earn and store staking rewards in their Gemini accounts. The company will support staking MATIC on the Polygon network and will roll out support for Ethereum, AUDIO, Solana (SOL), and Polkadot (DOT) over the next few months.

Ripple unveils crypto on-demand liquidity service in Brazil

Ripple has introduced its crypto on-demand liquidity (ODL) service in Brazil in partnership with Travelex Bank. The company’s ODL uses XRP to accelerate the transfer and exchange of fiat currencies between countries. Travelex will use ODL for payments between Brazil and Mexico for now.

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EPL Files Crypto, NFT Trademarks – Top Crypto Updates

English Premier League files crypto, NFT trademarks

The English Premier League (EPL) has filed two cryptocurrency and NFT trademarks in the U.S. EPL is the top level of professional English football, comprising 20 teams. The two filings pertain to the U.S. use of trademarks associated with the league, one centered on the league’s name and logo. The trademark filings cover the creation and sale of digital assets, virtual clothing, cryptos, and media files verified by NFTs.

Crypto prices today: Bitcoin down 5.8%, ETH falls 7%

Bitcoin is currently trading at $29,504.87, a decline of 5.8% over the previous day. Ethereum fell 7.14% over the last 24 hours to $1,754.51. Solana fell 6.7% to $38.98, while Cardano is trading lower by 6.31% at $0.584. Avalanche (AVAX) crashed 11.7% to $23.69. The global crypto market cap stands at $1.21 trillion, a 5.12% decline over the previous day.

SEC targets Binance’s BNB ICO for potential violations: Report

As per a Bloomberg report, the Securities and Exchange Commission (SEC) is revisiting the origins of Binance’s Coin (BNB) for potential violations of securities regulations. The probe comes just as Reuters released the results of an unrelated investigation in which it claims that at least $2.35 billion in illicit funds have been laundered through Binance between 2017 and 2021.

IRA Financial Trust sues Gemini over $36M theft of Bitcoin, ETH

IRA Financial Trust has announced a lawsuit against crypto exchange Gemini. The company manages individual retirement accounts in non-traditional assets such as Bitcoin. IRA Financial Trust lost $36 million in a crypto hack in February. It used New York-based Gemini to hold its digital assets. IRA alleges that Gemini “did not have proper safeguards in place to protect customer crypto assets.”

Indonesian exchange Pintu raises $113M to meet country’s crypto boom

Indonesian crypto exchange Pintu has raised $113 million in a Series B funding round with investments from venture capital firms. Pintu plans to use the capital to build out new features, including additional supported tokens and blockchains and products. It plans to continue with its aggressive hiring plans to help address the booming crypto market in Indonesia.