Crypto Live News : Binance Lawsuit, Voyager’s Fiat Conversion, OKX Dispute Resolved, What’s New in US Crypto Regulatory Framework !




Hey there, welcome to our daily Coinpedia news update! Ready to dive into the exciting world of crypto with us? Hold on tight and get ready to catch up on all the latest buzz and happenings in the crypto space!

Binance in Hot Water: Insider Trading Scandal

Binance, one of the world’s leading cryptocurrency exchanges, is currently facing an insider trading scandal. An anonymous individual was able to make significant profits from Binance’s listing pumps of various altcoins by using insider trading. The individual purchased FXS and TVK tokens before their listings on Binance and then moved the tokens to the exchange to make profits. The exchange’s CEO, Changpen Zhao, responded by freezing $2 million associated with the address in question before the issue was raised.

Voyager Converts $150M of USDC to Fiat Through Circle

US-based cryptocurrency trading platform Voyager has redeemed $150 million worth of USDC into fiat currency through Circle’s service. This move comes amid struggles with Voyager’s restructuring plan and Binance’s bid to purchase the company. Additionally, the stablecoin market has been impacted by the near-collapse of USDC due to a run on three traditional U.S. banks. Voyager’s liquidation in July 2022, after being exposed to unpaid loans totaling $666 million from Three Arrows Capital, has led to a contagion still being felt in the crypto market.

OKX Resolves Frozen Asset Dispute, Returns $157M

Malta-based cryptocurrency exchange OKX has resolved a frozen asset dispute and returned $157 million in digital assets belonging to FTX and Alameda Research. OKX did not specify what digital assets it had identified but conducted investigations to identify any FTX-related transactions on its exchange. Upon discovering assets and accounts linked to FTX and Alameda Research, the company moved to secure the assets and freeze the connected accounts. FTX’s bankruptcy lawyers say that prior to OKX’s announcement, they had identified $694 million in liquid assets, including fiat, stablecoins, bitcoin, BNB, SOL, and ether.

US Crypto Laws: A lot of Work Needed for Fairness, According to Advisor

Sean Lee, an advisor to the Crypto Council for Innovation, believes that fair treatment of the crypto industry is possible in the United States. He argues that financial reform was addressed following the 2008 financial crisis, so there is no reason why the same cannot be applied to crypto. Lee warns that it will take a lot of work to develop fair crypto laws and that policymakers and financial regulators need more education on the matter. The comments come in response to a massive crypto crackdown by U.S. financial regulators that some industry commentators have labeled a “war on crypto.”

Bitcoin Shows Strength: Rebounds to $29K Despite Regulatory Hurdles

Despite recent regulatory crackdowns on crypto firms in the US, including the lawsuit against Binance and its CEO, Bitcoin’s price briefly rose above $29,000 on March 30, marking a new high for the year. Industry commentators are surprised by the price bounce-back, with some speculating that the lawsuit will only result in minor fines for Binance. The Crypto Fear and Greed Index, which measures emotions and sentiments towards Bitcoin and other large cryptocurrencies, has been steadily increasing over the last month.

That’s all for today’s crypto news from Coinpedia! Keep an eye out for more exciting developments in the world of cryptocurrencies.

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