Old-Backed Crypto in Zimbabwe & KuCoin Woes: Market Recap

Hey there, fellow crypto crusaders! Welcome back to Coinpedia Daily News, your go-to source for all things crypto! It’s time to buckle up and get ready for some exhilarating updates in the world of digital gold.

Can you believe it? The global crypto market cap has skyrocketed to a jaw-dropping $1.17 trillion! Bitcoin (BTC) and Ethereum (ETH) are leading the charge, smashing through the $27,000 and $18,000 marks like unstoppable titans. It’s like watching a thrilling roller coaster ride with twists and turns at every corner!

But hey, it’s not all smooth sailing in the crypto seas. Some popular altcoins like Dogecoin (DOGE) and Solana (SOL) have hit a bump in the road, experiencing minor losses. It’s a reminder that the crypto market can be as unpredictable as a wild adventure!

But amidst the twists and turns, there’s one coin that’s stealing the limelight — Flow (FLOW). This coin is on fire, with a jaw-dropping 24-hour jump of over 4.17 percent, making it the undisputed champion of the day! It’s like watching a superhero rise to the occasion and leave others in the dust. Go, Flow, go!

On the flip side, we have WOO Network (WOO), which stumbled and took a hard hit, claiming the title of the biggest loser. But hey, in the world of crypto, it’s not always smooth sailing. It’s all part of the thrilling ride that keeps us on the edge of our seats!

But fear not, fellow adventurers! The global crypto market cap has still registered a 24-hour gain of 0.13 percent, signaling the unwavering growth and potential of the cryptocurrency market. So, despite the ups and downs, we can still expect more heart-pounding updates and exciting opportunities in the world of crypto!

Oh, and here’s a juicy bonus for you — did you know that Satoshi Nakamoto, the elusive creator of Bitcoin, shared some mind-boggling insights 12 years ago? It’s like discovering hidden treasure in the crypto world! Get ready to uncover the secrets of Bitcoin’s future and the world of alternative clients. It’s a wild ride you won’t want to miss!

Stay tuned to Coinpedia Daily News for all the latest updates, trends, and thrilling stories in the world of crypto. Happy trading, fellow crypto enthusiasts! Let’s ride this wave of excitement together!

Latest News

Twitter Hacked, Crypto Lost: KuCoin’s $22,000 Nightmare

• KuCoin fell victim to a Twitter hack resulting in the loss of over $22,000 worth of assets for its users.
• Hackers took over KuCoin’s Twitter account for 45 minutes and promoted fake activity, resulting in 22 transactions with losses totaling 22,628 USDT.
• KuCoin has recovered its Twitter account, assured users that other channels were not affected, and promised to reimburse affected users.
• This incident highlights the ongoing issue of hackers using prominent Twitter accounts for fake giveaways, and crypto holders are urged to exercise caution and due diligence.

Win for Investor Protection: SEC Wins $2.8M in Suit Over Crypto Token Price Manipulation

• Hydrogen Technology Corp. and its former CEO Michael Ross Kane fined $2.8 million for alleged price manipulation scheme.
• SEC lawsuit against Hydrogen and Kane concluded with a New York District Court Judge ruling in favor of the SEC.
• Fine includes $1.5 million in disgorged profits and a penalty of over $1 million, with an additional individual fine of approximately $260,000 for Kane, along with prejudgment interest.
• SEC accused Kane of using Hydrogen’s market maker to manipulate the price and volume of its token, resulting in artificial market activity and over $2 million in profit.

Crypto Clash: Coinbase CEO’s Secret Summit with SEC Amid Offshore Rumors; The Inside Scoop Revealed!

• Coinbase CEO, Brian Armstrong, meets with the US SEC to push for clear regulations for the crypto industry.
• Coinbase is reportedly considering moving offshore due to lack of clear rules from the SEC.
• Armstrong believes the US cannot afford to miss the opportunity to update the financial system, but emphasizes the need for regulators to set policy correctly and then enforce it.
• Armstrong has been actively advocating for the crypto industry and recently met with members of Congress to voice concerns about the SEC’s policies and their impact on the nation.

Golden Opportunity: Zimbabwe’s Central Bank Set to Launch Gold-Backed Digital Currency!

• The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender to stabilize the local currency from continued depreciation against the U.S. dollar.
• The move aims to allow small amounts of Zimbabwean dollars to be exchanged for the digital gold token, providing a hedge against currency volatility for more Zimbabweans.
• The current exchange rate volatility in Zimbabwe has been caused by expectations of increased foreign currency supply due to the tobacco season, but is expected to stabilize after tobacco farmers receive U.S. dollar payments in the coming weeks.
• Zimbabwe has been struggling with currency volatility and inflation for over a decade, with businesses resorting to printing their own makeshift currency. Crypto adoption has been growing in Africa due to economic challenges, with the Middle East and North Africa being the fastest-growing region for crypto adoption.

FTX Reboot: Skeptical Scaramucci Raises Doubts — ‘I Don’t See How It’s Possible

• Anthony Scaramucci, linked to FTX through his investment firm Skybridge Capital, expresses skepticism about FTX’s possible reboot in a podcast interview.
• Scaramucci doubts the feasibility of restarting FTX due to the lack of profitability in crypto exchanges and the capital burn-off from previous private placements.
• FTX, once valued at $32 billion, filed for bankruptcy protection and is exploring a possible reboot, but Scaramucci questions the positives of restarting and highlights the need for creditor buy-in and bankruptcy court approval.
• Scaramucci criticizes SEC Chair Gary Gensler as a “bad faith regulator” and warns that Gensler’s stance on crypto could push business offshore, citing recent moves by Coinbase to obtain a license in Bermuda.