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The total crypto market valuation has been stagnant in the $1.1 trillion to $1.2 trillion bracket of late, with prices of most top assets noting merely 1% to 2% movements on the weekly. Bitcoin’s YTD earnings continue to be positive, owing to 2023’s bullish start. As analyzed in an article yesterday, investors fetched the most returns in January and March. Notably, the banking turmoil ended up being a blessing in disguise for Bitcoin and helped it climb up in both valuation and dominance. Chalking out the same, a recent K33 Research report underlined, “The Bitcoin dominance has increased by 6% year to date and currently sits at 48%, with a majority of the increased dominance originating from the March banking turmoil.” Despite the rise, BTC’s dominance is still sitting “miles below” the dominance of 2019 to 2020, as illustrated below. Source: K33 Research Also Read: Bitcoin To Break 2023’s Bullish Streak In May? Stablecoins step up According to the report, rotation fro...

The Wahi brothers were charged with trading at least 25 different digital currencies based on Ishan’s prior knowledge of their listing on the trading platform, a benefit of his role as a product manager with the exchange. Per the terms of the settlement, the Wahi brothers have agreed to return the ill gotten gains from their activities. They will also be paying the accrued prejudgment interests related to the case. advertisement The Insider Trading activities by both brothers was flagged back in July last year and through a series of coordinated investigative efforts, both of them were apprehended and charged to Court. Earlier development revealed that Nikhil was sentenced to 10 months imprisonment back in January this year while Ishan bagged 2 years for his misconduct. Additional Demand Placed on the Former Coinbase Manager Despite the jail terms, Ishan has been ordered to forfeit 10.97 Ether and 9,440 Tether, and Nikhil was ordered to forfeit $892,500....

The number of Ordinals has grown from one to 10 million in less than six months. The number of Ordinals inscriptions on the Bitcoin (BTC) network has surpassed the 10 million mark, just days after its creator stepped down as the project’s caretaker. On May 28, Casey Rodarmor announced on Twitter he had stepped down as the project’s lead maintainer, claiming that he’d been unable to give Ordinals the attention it deserved. Rodarmor handed the role over to pseudonymous coder Raphjaph. I haven't been able to give ord the attention it deserves, so I am pleased to announce that @raphjaph has agreed to step up as lead maintainer! Raph is an impoverished student, and his work on ord will be entirely funded by donations. If you can, please consider donating!… — Casey (@rodarmor) May 28, 2023 Launched in January, the Ordinals protocol rapidly became the most popular way to mint new assets on the Bitcoin blockchain Ordinals originally began as a way of “inscribing” data in the witness ...

In a major victory for crypto miners in the United States, the Biden administration has decided against including the controversial Digital Asset Mining Energy (DAME) excise tax in its latest debt ceiling bill. This comes as good news for crypto mining firms as well as the broader crypto industry operating in the U.S. U.S. Congressman Warren Davidson took to Twitter earlier today to share the House of Representatives bill text for the debt limit. The 99-page document listed various reforms and exemptions aimed at easing the ongoing debt ceiling crisis in the United States, which included a discretionary spending limit of over $1.6 trillion for fiscal years 2026 through 2029. Yes, one of the victories is blocking proposed taxes. — Warren Davidson (@WarrenDavidson) May 29, 2023 Pierre Rochard, the VP of Research at American Bitcoin mining giant Riot Blockchain, responded to Congressman Davidson’s tweet by highlighting that there was no mention of bitcoin mining or...

The Ripple Labs versus U.S. Securities and Exchange Commission (SEC) legal battle has taken yet another intriguing turn, this time with speculation surrounding the potential involvement of Coinbase, a leading US-based crypto exchange. The discussion was initiated by a tweet from Mr. Huber, a well-known crypto enthusiast and Twitter user operating under the handle @Leerzeit. Mr. Huber’s tweet pondered the possibility of Coinbase requesting access to the highly coveted “Hinman emails,” provided Ripple agrees not to make them public.  The Hinman emails, named after William Hinman, former director of the SEC’s Division of Corporation Finance, have become a focal point in the Ripple-SEC lawsuit as they contain crucial information regarding the SEC’s classification of XRP. However, Mr. Huber doubts that Coinbase would willingly immerse itself in anything remotely connected to the Hinman emails. He hinted at Coinbase’s entanglement in the legal complexities and...

Gemini said that its Earn product which offered yields to customers to lend out coins wasn’t a security. In the filing, Genesis also mentioned that all these transactions, in effect, were loans. Thus, it asked the court to dismiss the complaint, or “in the alternative, strike the SEC’s requests for a permanent injunction and disgorgement.” advertisement The complaint from the SEC also argues that Gemini and not Genesis “ran the customer-facing operations of the Earn program”. However, the crypto exchange said that it was just a transfer agent for the Earn product while calling the SEC lawsuit “ill-conceived”. Just before crypto lender Genesis filed for bankruptcy, the SEC sued both companies earlier this year in January 2023. Ever since crypto lender Genesis went into trouble following the collapse of crypto exchange FTX, Earn users haven’t been able to withdraw their money since November 2022. Gemini Vs ...

Join Our Telegram channel to stay up to date on breaking news coverage OpenAI CEO Sam Altman has hinted that OpenAI could exit Europe. In an announcement, Sam complained about the potential challenges of complying with upcoming European Union AI regulations.  OpenAI May Withdraw from Europe Because of Regulatory Pressure If the company cannot meet the requirements imposed by these regulations, OpenAI might consider with drawing its services from Europe. Altman’s statement underscored the importance of regulatory compliance and OpenAI’s commitment to upholding ethical standards while acknowledging the difficulties of navigating evolving regulatory landscapes.  OpenAI’s decision ultimately depends on the specific regulations and their impact on the company’s ability to operate within Europe, especially after an investigation that took place in early May. “There’s so much they could do, such as changing the definition of general-pur...

Join Our Telegram channel to stay up to date on breaking news coverage yPredict, an AI-driven ecosystem for traders, quants, analysts, and developers, has raised $1.7 million through its successful presale phase. By offering a wide range of useful tools and Features , yPredict aims to change the research and Analysis method for bitcoin investors. yPredict will Provide Market Players an Unrivaled Advantage Several of the most popular cryptocurrencies offer solutions to problems in the real world. Meme currencies have a tendency to rise in value quickly, but they are less resilient than cryptos that solve problems. With this in mind, yPredict has the potential for long-term growth due to its strategy for improving the trading signals sector. By building a comprehensive all-in-one ecosystem that serves traders, developers, quants, and analysts, yPredict aspires to become the leader in AI-driven crypto analytics. Individuals can use yPredict to access cutting-edge prediction mo...

Attorney Kim will no longer be a part of Ripple ’s defense counsel in the SEC lawsuit.  As the SEC vs. Ripple lawsuit approaches its end, attorney Kylie Chiseul Kim, one of the lawyers representing the blockchain company, has filed a motion to withdraw from the case.  The development was shared yesterday by seasoned pro-XRP lawyer James K. Filan, who has closely followed the ongoing SEC vs. Ripple litigation.  # XRP Community # SEC Gov v. # Ripple # XRP Attorney Kylie Chiseul Kim has moved to withdraw as counsel to Ripple Labs. pic.twitter.com/sBmJMV2SHi — James K. Filan (@FilanLaw) May 24, 2023 According to documents shared by Filan, attorney Kim filed the motion in the Southern District of New York yesterday. In the motion, Kim noted that she would no longer be associated with Kellogg, Hansen, Todd, Figel, & Frederick, P.L.L.C., the law firm currently representing Ripple in the ongoing SEC legal battle.  The document also clarified that other lawyers f...

On-chain detective ZachXBT believes that the project has “likely exit scammed” after bridging $31.6 million to multiple addresses on Tron and Ethereum. A crypto project called Fintoch, which claimed to be backed by investment banking firm Morgan Stanley, seems to have taken off with almost $32 million of its users' funds, according to on-chain detective, ZachXBT.  In a thread, the crypto sleuth showed a diagram that detailed the movement of the funds. The on-chain detective alleged that the project had likely conducted an exit scam. It appears the team behind the ponzi @DFintoch has likely exit scammed with 31.6m USDT on BSC after the funds were bridged to multiple addresses on Tron/Ethereum and people reported being unable to withdraw Fintoch advertised 1% daily ROI & claimed to be owned by Morgan Stanley pic.twitter.com/UD3KKfkG97 — ZachXBT (@zachxbt) May 23, 2023 The fund promised a 1% daily interest for investments from users. However, users of the platform have start...

According to a May 22 court filing, Bitcoin (BTC) mining company Core Scientific ’s liquidity has significantly improved. As per the document, the restructuring plans could be ready by September. Considering the market conditions, the company anticipated ending the procedures with an additional $46 million. The firm also said that it may file a reorganization plan soon. As per the filing, key stakeholders are currently negotiating the plan. The company is attempting to reach a broad “consensus” on what the new Core Scientific would resemble when it emerges from its bankruptcy proceedings. Can the Bitcoin miner make a comeback? Core Scientific filed for bankruptcy in December 2022. A Chapter 11 bankruptcy enables a business to carry on operations until all parties can come to an agreement on a restructuring plan. Plans could include actions like scaling back corporate operations to decrease debt or selling off assets to pay creditors. The firm said that the fall in powe...

Also Read: Debt Ceiling Talks End With No Deal While Yellen Warns of Impending Cash Crunch advertisement Biden and McCarthy will be meeting everyday until a decision is reached before the June 1, 2023 deadline. Yet, the Republican leader indicated there was a long way to go before consensus is reached about the deal. Talks Nowhere Near Debt Ceiling Deal According to latest reports, McCarthy informed Republican lawmakers that a debt ceiling deal is nowhere near possibility at this point. Following the Monday meeting, the Republican leader said he would meet with the President every day until a deal is reached, amid deadline pressure. “The president and I know the deadline, so I think we’re going to talk every day … until we get this done,” he said. Menawhile, there is fear of stock market crash and a drop in Crypto Market prices if a debt ceiling deal is not reached, CoinGape reported. Recommended Article...