The U.S. government may require Ledger to access users' cryptocurrency wallet information.
Pascal Gauthier, CEO of Ledger, acknowledged that authorities could gain access to the private keys of users’ hardware cryptocurrencies. This applies to those users who use the new Ledger Recovery service. But on the What Bitcoin Did podcast, Gauthier noted that they could only achieve this through the courts.
Ledger Recovery is a feature to split a seed-phrase into three parts, each of which will be stored on a separate company's server.If users lose the seed-phrase, it can be recovered by combining the stored code. If users lose the seed-phrase, it can be recovered by combining the stored code.
Ledger users resented the fact that not only the owner of the device could have access to it. Ledger's former CEO Eric Larchevêque said the government could demand access to users' funds.
This statement raised a lot of questions from users, but the current CEO assured that this is an unlikely event, as such requests are given in the most serious cases: terrorism or drugs.
The cryptocurrency index of “fear and greed” fell by 3 points in 24 hours, to 49 points. The market became less interested in buying cryptocurrencies.
The rate of the first cryptocurrency fell to $26.5 dollars. The last decline of BTC to these positions was on May 13, after which it gradually began to return to the position and within 10 days at $26.6 thousand to $27.4 thousand.
Now Bitcoin is trading at $26.8 thousand. According to CoinGecko, the cryptocurrency fell in price by 0.7% overnight. The market capitalization of Bitcoin is $520.9 billion with a daily trading volume of $10 billion. BTC's share of the cryptocurrency market is 44.5%.
The positions of other popular altcoins also suffered. Ethereum for a day lost 0.1% to $1.8 thousand, the rate of BNB decreased by 1.1% to $307, Solana fell by 2.6%, to $19.7. XRP has fallen in price by 2.1% and reached the value of $0.45, Cardana has lost 0.3%, its value is $0.3. Tron, on the contrary, rose in price by 6.9% and reached the value of $0.07.
The capitalization of the entire cryptocurrency market for the day decreased by 0.7 % and amounted to $1.17 trillion. The daily trading volume on the market is $26.9 billion.
The trading company made a secret deal with Terraform Labs and backed the UST to keep it from deviating from the dollar.
In May 2021, U.S. trading company Jump Trading entered into a secret agreement with Do Kwon’s Terraform labs. The agreement was to support the UST steblecoin a year before it collapsed. Fortune reports this, making reference to court documents. Jumping Trading made $1.28 billion on it.
The fall of TerraUSD and Luna in May 2022 resulted in a $40 billion loss for cryptocurrency investors. Jumping Trading was involved in an investigation by U.S. authorities into the Terraform Labs fraud. The SEC has now released new documents on the case, revealing details that in 2021, Jumping Trading helped UST leave the dollar peg by buying 62 million tokens.
Do Kwon cited UST's recovery in 2021 as the token's ability to regenerate, though in a letter to big investors that there was nothing to fear and Jump Trading would improve the token's liquidity.
Coinbase shares rose 8% after the publication of its quarterly report.
The largest cryptocurrency exchange Coinbase reported losses for the first quarter of 2023. They were lower than the public expected. This was contributed to by the rise in cryptocurrency prices. The company’s losses fell to $79 million from $430 million in the previous period.
Shares of Coinbase (COIN) were up about 8% in off-berge trading. The company’s quotes have fallen nearly 90% since its April 2021 release, but are up 40% this year.
In any case, this is the 5th losing quarter for the exchange. Coinbase's revenue fell 34% to $772.5 million, though it increased compared to the last quarter, which saw many scandals with major market players.
In a letter to investors, Coinbase says that going forward, the cryptocurrency industry remains volatile, which may be evidenced by turmoil in the banking sector, there are still regulatory uncertainties.
Because of the FED's key rate decision, Bitcoin returned to the $29,000 mark.
The value of Bitcoin returned to the value of $29 thousand. During the day, the value of the first cryptocurrency increased by 2.3%. Now it is trading at $29,170, the share of BTC on the cryptocurrency market is 25.7%.
Large cryptocurrency traders watched the decision to change the key rate at the U.S. Federal Reserve. According to the results of the meeting, held on May 2-3, the agency increased the rate by 25 basis points, up to 5.25% per annum, which coincided with market expectations.
The value of Bitcoin increased by 1.8 % when the Fed's decision was announced. Other popular cryptocurrencies also added in value. Ethereum gained 2% in 24 hours, up to $1.9 thousand, the rate of Ripple (XRP) rose by 0.7% to $0.46. The value of Cardano increased by 2%, to $0.39, Polygon by 2.5% to $0.99.
The total capitalization of the cryptocurrency market increased by 1.7% to $1.25 trillion.
After the launch of the main network of the project SUI token trading will be available on popular cryptocurrency exchanges.
Today will be the launch of the Sui blockchain and simultaneously with it the launch of the native token. Soon after the launch, the token will become available for purchase and sale on popular exchanges.
Platforms Binance, OKX, Bybit and Kucoin have confirmed that they plan to accept Sui transactions immediately after its launch. Also, these exchanges already held public sales of SUI tokens for qualified investors at the end of April.
Sui is a network based on the Proof of Stake algorithm for creating decentralized applications. The project team consists of 5 former Meta engineers who founded Mysten Labs. Their startup went through two funding rounds in 2021 and 2022, and raised over $300 million.
Initially, the public thought Sui would conduct the largest airdrop in history, but the developers said it would never happen. Instead, there were pre-sales of the token on major exchanges.
Poloniex will have to pay a huge fine within 5 years due to violation of U.S. sanctions.
Cryptocurrency exchange Poloniex will pay a fine of $7.59 million for violating sanctions to the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). This was announced in a press release of the agency.
According to OFAC, from January 2014 to November 2019, the platform committed 66,000 sanctions violations, allowing customers from Cuba, Iran, Sudan, Syria and Crimea to make cryptocurrency transactions of up to $15 million.
Poloniex began operating in 2014, but the sanctions compliance program was not implemented until middle of 2015. But the program allowed customers from sanctioned countries to continue using its services.
In 2021, the exchange already had to settle the issue with the SEC in pre-trial proceedings. At that time Poloniex paid $10.3 million to the SEC for accusations of illegal sales of unregistered assets.
Representatives of cryptocurrency exchange KuCoin reported that their Twitter account was hacked. Users who suffered because of the incident will be compensated for their losses.
KuCoin platform developers warned that their official Twitter account was hacked. It happened in the afternoon of April 23. Developers reported that several users lost a small amount of money due to fake tweets.
Now KuCoin ranks 7th among cryptocurrency exchanges in terms of trading volume. In a day, this figure is $543.6 million.
The account was in the hands of attackers for 45 minutes. After the account was restored, KuCoin identified 22 transactions, including Bitcoin and Ethereum. The total amount of exchange users' losses amounted to 22.6 thousand USDT. The exchange plans to reimburse all of their losses.
KuCoin claims that the exchange users' assets remain safe. An investigation into the hack is underway. The platform plans to introduce new security measures for its accounts in social networks.
The value of BTC dropped below $28.7 thousand for the first time in 10 days.
On the night of April 20, the value of Bitcoin fell below $29 thousand. The value of the cryptocurrency fell to $28.7 thousand, which was the lowest in the last 10 days. During the day Bitcoin fell in price by 1.6%. At the moment, according to Coingecko, the first cryptocurrency is trading at $28.8 thousand.
Ethereum for a day fell in price by 1.7%, now selling at $1,954. The rate of BNB has fallen by only 0.3%, now it is trading at $325. XRP and Cardano are up 0.9% and 0.4%, at $0.49 and $0.41, respectively. Dogecoin is up 4.6%, now trading at $0.009.
During the day, the capitalization of the entire cryptocurrency market has fallen by 4%, its value is $1.27 trillion.
Against the backdrop of declining cryptocurrency rates, the "fear and greed" index has moved to neutral values from the position of greed.
Cryptocurrency Islamic Coin, corresponding to the norms of Shariah, will begin to be sold in May.
The world’s first halal cryptocurrency Islamic Coin, will start selling to the public in May. This was announced in the publication Arabian Bussiness, citing the words of the co-founder Mohammed AlKaff AlHashmi. Now the cryptocurrency is sold only in closed auctions.
Islamic Coin is a cryptocurrency operating in Haqq Blockchain. The cryptocurrency takes into account Islamic principles and traditions in finance.
AlHashmi says that the success of Bitcoin, Ethereum is due to the fact that they were the first of their kind. Therefore, he also believes in the success of Islamic cryptocurrency. He also says that the Islamic world has more than 1.8 billion people. And for all that, half of Islamic Coin in closed sales was bought by non-Muslims.
Haqq Network’s blockchain will have a Shariah council to determine whether cryptoprojects created on it comply with Shariah norms. Projects related to gambling, projects charging interest and others will be rejected.