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.
On April 18, the rate of BTC reached $29.2 thousand, which is a weekly low.
The rate of the first cryptocurrency reached a weekly low and stopped at $29.2 thousand. It happened for the first time since April 11. During the day, BTC fell in price by 1%. Based on CoinGecko data, at the moment of writing this article, the cryptocurrency is trading at $29.9 thousand.
Ethereum, on the other hand, rose by 1.9% to $2,108. In total, ETH increased in price by 11% over the week.
Other popular cryptocurrencies also changed in value during the last day: Binance currency grew by 1.4% to $344.9, Solana showed growth of 2.3% and reached $25.4. XRP (Ripple) token increased by 1.2%, rising to $0.51, Dogecoin and Cardano did not change in price and remained at the same positions, $0.009 and $0.44 respectively.
The total market capitalization of cryptocurrencies for the day increased by 0.7% and reached $1.33 trillion.
Dogecoin returned to its previous value after Twitter removed the cryptocurrency logo from the social network interface.
Dogecoin fell 9.5% after the logo of the meme cryptocurrency was removed from Twitter's interface. Dogecoin is currently trading at $0.082.
After Twitter's owner and head Ilon Musk replaced the familiar logo of the social network with an image of a mascot dog, Dogecoin's exchange rate rose from $0.077 to $0.102. During the day from March 3 to March 4, traders lost $30 million on liquidated positions on cryptocurrency exchanges on Dogecoin.
From March 3 to date, the price of the meme cryptocurrency has fallen 18%. Now the values are back to the state at the time when the Twitter logo was not yet flaunting a siba inu.
Santment analysts suggested that large Dogecoin token holders knew about future events in advance and started buying up more meme cryptocurrency.
The Securities and Investments Commission of Australia did not mention the violation of the exchange in the statement. But the statement did mention a lawsuit from the CFTC against Binance and warnings to the platform from regulators in 7 countries.
The Australian Securities and Investments Commission (ASIC) revoked the license of Binance's representative office in the country to provide financial services. The branch in Australia is called Binance Australia Derivatives.
After the ban takes effect, April 14, users will not be able to increase or open new positions in derivatives. Existing transactions will need to close by April 21.
ASIC also announced that they will conduct a full inspection of the exchange Binance and its activities in Australia. The inspection will include the classification of wholesale and retail customers of the company.
ASIC doesn’t report any violations found on the part of the exchange, but recalls a March 27 lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC), in which the exchange violated several U.S. laws. The exchange is also being inspected by regulators in the United Kingdom, Japan, Italy, Singapore, the Netherlands, Thailand and Canada.
The developers of the cryptocurrency wallet alerted users that the March 31 airdrop is a fiction and warned them to be on their guard and not fall for the tricks of fraudsters.
MetaMask denied rumors about the March 31 airdrop. The developers say that there have been numerous reports that the crypto wallet will be holding a token giveaway at the end of the month.
“These rumors are not only false, but they are dangerous. They create opportunities for scammers and phishers. Please be on the lookout for fake sites in the coming days,” MetaMask warned.
Fraudulent reports about MetaMask's token giveaway appeared in mid-March, after ConsenSys CEO Joe Lubin revealed that MetaMask was planning to launch a decentralized autonomous organization (DAO) and create its own token for it. No details were disclosed and the scammers seized the chance.
The United Kingdom has tightened rules for cryptocurrency companies related to advertising and promotion of crypto projects.
UK introduces criminal responsibility for non-compliance with the rules of advertising of cryptocurrency projects. It provides for a term of imprisonment of up to 2 years. The new advertising rules were announced on the website of the UK Financial Conduct Authority (FCA).
Already since January 2020 in the UK there is an order in which for the deployment of cryptocurrency activities in the kingdom, companies must register with the FCA and comply with anti-money laundering regulations. According to the new rules, advertising will also have to be approved by the FCA.
Companies registered with the FCA and approved can launch advertising campaigns in the Kingdom. Non-compliant advertising campaigns will be considered a breach of the Financial Markets and Services Act of 2000. This is punishable by up to 2 years in prison.
The company has a blockchain called XRP Ledger, which they use as the basis for creating national digital currencies. The company’s pilot project will be to create a token for Montenegro.
Ripple Labs is looking for development engineers who can create projects within central bank currencies (CBDC). The company opened a vacancy to find an employee capable of developing cryptocurrency solutions that meet the requirements of regulators from different countries.
Ripple has been trying to develop in the CBDC sector for several years, offering XRP Ledger as the main blockchain for creating digital national currencies.
In September 2021, Ripple Labs entered into an agreement with Bhutan to jointly develop a national cryptocurrency. With such an initiative, the country's leadership planned to equip citizens with financial opportunities, most residents cannot take out a loan or open a savings account.
At this year’s Crypto Summit 2023, Ripple CEO Brad Garlinghaus met with Montenegrin President Dritan Abazovic. During the meeting, a partnership was made for Ripple to develop Montenegro’s national currency.
The company multiplied its productivity and sold $35 million worth of cryptocurrency to cover costs.
Marathon Digital sold 1,500 Bitcoins in January. In the first month of 2023, the company produced 45% more cryptocurrency than the month before. According to a press release, the company decided to sell some of its earned assets to cover operating expenses due to the increase in mining.
Marathon Digital is a leading cryptocurrency mining company based in the U.S. and entering public trading. Its farms with tens of thousands of devices are located in Texas, North Dakota and other states.
“We started the year by producing a record 687 bitcoins in January 2023, which is a 45% increase from the 475 bitcoins we produced in December 2022,” says Marathon Digital CEO Fred Thiel.
Thiel said the company will continue to sell the mined cryptocurrency to cover monthly expenses. The company also plans to increase its mining equipment capacity to 23 EH/s by the middle of this year Marathon Digital currently has the second largest amount of Bitcoin stored.
For the first time since last August, Bitcoin’s value rose above $24,000. Also, the “Fear and Greed” index increased by 4 points during the day and reached the mark of 60 points.
On February 2 Bitcoin rate reached $24.1 thousand, which is the maximum since August 15, 2022. The first cryptocurrency rose in price by 2.8% over a day. Now, according to Coingecko, the cryptocurrency is trading at $23.74 thousand.
The market capitalization of BTC now stands at $458 billion, which is 40.6% of the entire cryptocurrency market. The daily trading volume is $41.8 billion.
In addition to Bitcoin, other altcoins increased in price. Ethereum rose in price by 5.6% and reached $1,660, BNB grew by 6.9% to $322, Cardano by 5%, reaching a value of $0.4, Polygon increased by 12.2%, reaching a value of $1.24.
According to CoinGlass, cryptocurrency exchanges liquidated positions worth more than $137 million. $38.8 million was sold in pairs with Bitcoin, $34.5 was sold with Ethereum. The largest liquidation took place on the Bybit exchange, where $1.69 million was sold on the BTC/USD pair.