Category: Cryptocurrency

Coinbase is getting rid of Coinbase Pro as it continues to restructure the business

June 24, 2022

The cryptocurrency exchange is scrambling amid the market’s major decline The popular US cryptocurrency exchange Coinbase announced two days ago that its trading platform, Coinbase Pro, will soon be discontinued. The reason is that Coinbase is going through a time of restructuring all its trading services in order to “merge” them into a single platform. […]

Tether plans on launching another new stablecoin that will be pegged to the British pound

June 23, 2022

Tether has been introducing more stablecoins lately as the cryptocurrency ecosystem changes Tether, the world’s largest issuer of stablecoins, said it will introduce a token pegged to the British pound next month. While the upcoming launch of a stablecoin backed by the euro was announced in Americas Cardroom very recently, Tether responded with a similar […]

Binance gets rid of spot trading fees for Bitcoin in US market

June 23, 2022

There’s some good news for American cryptocurrency traders. Binance.US, which is the American arm of the biggest cryptocurrency exchange on the planet, today announced that it has eliminated spot trading fees for bitcoin transactions. The announcement applies when trading Bitcoin for US dollars as well as Tether and other supported stable coins. Binance.US CEO Brian […]

NYDIG and Deloitte want to help businesses adopt Bitcoin and other cryptocurrencies

June 22, 2022

Despite the recent price tank, cryptocurrencies still find support as legitimate financial offerings Professional services giant Deloitte, one of the “Big Four” accounting firms, partnered with Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG). The goal of this joining of forces is to help companies of all sizes implement services related to digital […]

New ProShares ETF makes it easy to short bitcoin

June 22, 2022

Investors hoping to profit from bitcoin’s waning popularity will have a new option beginning today. ProShares announced that it has launched a new ETF on the New York Stock Exchange called the ProShares Short Bitcoin Strategy, which will give investors the means to cash in on crypto’s price decline. The ProShares Short Bitcoin Strategy is […]

Google being overrun by searches for “Bitcoin dead”

June 21, 2022

The massive slide in cryptocurrency values has consumers scrambling to figure out what to do The falling price of Bitcoin (BTC) is causing skepticism and speculation about the death of the largest cryptocurrency on the market. With the collapse in prices in the crypto sector, it is reviving many sentiments that different investors wish they […]

BIS plans on launching cryptocurrency market intelligence platform

June 20, 2022

As the market behaves erratically, the BIS wants consumers to understand what’s happening The Bank for International Settlements (BIS) Innovation Center has announced the launch of a new set of projects focused on various aspects of crypto and traditional payments. The project has been joined by a cryptocurrency market intelligence platform and central bank digital […]

Circle has launched a new euro-backed stablecoin

June 17, 2022

The stablecoin segment is gaining more support amid the larger cryptocurrency crash Circle Internet Financial, the payments company that issues USD Coin (USDC), a digital currency pegged to the US dollar, announced the launch of Euro Coin (EUROC), another stable coin that this time will be backed by the euro. According to the announcement, like […]

Coinbase announces mass layoffs as crypto prices tank

June 17, 2022

Bad news for Coinbase employees. The popular cryptocurrency exchange platform announced that it is terminating 18% of its workforce. With 5,000 full-time employees on its roster, an estimated 1,100 people will lose their job. Coinbase’s announcement comes as crypto prices nosedive, inflation soars, and the prospect of a recession looms. In an email to employees […]

Tether wants to remove commercial paper backing of the USDT stablecoin

June 16, 2022

Rumors the stablecoin is backed primarily by China has Tether announcing changes Stablecoin issuer Tether has addressed some allegations associated with the state of its commercial paper reserves, as well as the alleged connection to some companies that are rumored to be insolvent. The firm is looking to eventually get rid of the commercial paper […]

SEC to investigate insider trading allegations at cryptocurrency exchanges

June 15, 2022

Amid the market downturn, concerns over insider trading increase Cryptocurrency exchanges in the US may be put under the microscope. According to reports, the Securities and Exchange Commission (SEC) has launched an investigation to find out how crypto exchanges work to prevent insider trading. FOX Business reported Wednesday that someone with direct knowledge about the […]

Celsius Network freezes cryptocurrency withdrawals as market slumps

June 14, 2022

The market crash has forced the lending platform to take drastic measures to stay afloat Cryptocurrency platform Celsius Network, which had more than 2 million users as of May, has prompted a massive cryptoasset sell-off yesterday after announcing in a statement that it has halted withdrawals, exchanges, and transfers on its network. As a result, […]

Binance U.S. and its CEO face fresh lawsuit

June 14, 2022

Utah resident Jeffrey Lockhart is suing Binance U.S. and the company’s Chief Executive Officer, Brian Shroder. The plaintiff alleges that the crypto exchange inaccurately claimed Terra USD was a low-risk asset. The stablecoin ultimately collapsed in May. Lockhart is being represented by Tibor Nagy of the law firm Dontzin Nagy & Fleissig. In a statement […]

MoneyGram partners with Stellar Network for global crypto-to-cash service

June 13, 2022

MoneyGram announced today that it has rolled out its global crypto-to-cash service in the United States, Philippines, Kenya, and Canada.  The new service was first announced in October and is the result of the P2P payment giant’s collaboration with the Stellar Development Foundation (SDF).  The service is expected to rollout to more international markets later […]

Bitcoin ATM installations on the rise following a five-month lull

June 13, 2022

Not even the crash keeps the cryptocurrency industry from furthering its expansion The growth of new Bitcoin (BTC) ATMs that allow buying and selling cryptocurrencies slowed in the first few months of the year, with fewer than 2,000 installed, compared to nearly 2,700 in the same period last year. However, the winds seem to be […]

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