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Cryptocurrency Finance

All articles tagged with #cryptocurrency finance

cryptocurrency-finance1 year ago

Bitcoin Price Resilience Amid U.S. Inflation Volatility

Bitcoin initially dipped to $67,500 after the US inflation data but rebounded to $70,000, outperforming US equities and gold. Most cryptocurrencies lagged behind, with altcoins like polkadot, bitcoin cash, near, and aptos experiencing declines. Uniswap's governance token plummeted over 10% due to an enforcement notice from the SEC. Analysts attribute the rebound to underlying demand for bitcoin, seeing dips as a buying opportunity, and view bitcoin as insurance against increasing US debt levels and potential inflation.

via CoinDesk|
#altcoins#bitcoin#cryptocurrency-finance
cryptocurrency-finance1 year ago

"Nigeria Demands $10 Billion Payment from Binance in Cryptocurrency Crackdown"

The Nigerian government has demanded nearly $10bn in compensation from cryptocurrency firm Binance, alleging manipulation of foreign exchange rates and untraceable fund transfers, which have contributed to the naira's significant devaluation. Two Binance executives were arrested, and the government has suspended several cryptocurrency firms in an effort to stabilize the currency and curb illicit activities. Nigeria, a major cryptocurrency market, has seen increased scrutiny on cryptocurrency transactions amid concerns about money laundering and funding terror.

via BBC.com|
#binance#cryptocurrency#cryptocurrency-finance
cryptocurrency-finance1 year ago

Gemini to Return $1.1 Billion to Customers in NYDFS Settlement

Cryptocurrency exchange Gemini has agreed to return at least $1.1bn to customers of its defunct lending programme as part of a settlement with the New York Department of Financial Services (NYDFS), following significant failures in its Earn programme. The company will also pay a $37m fine and contribute $40m to the conclusion of Genesis' bankruptcy. Gemini, co-founded by the Winklevoss twins, has been embroiled in extensive litigation with Genesis Global Capital, and the settlement brings customers one step closer to regaining access to their funds.

via BBC.com|
#cryptocurrency#cryptocurrency-finance#gemini
cryptocurrency-finance1 year ago

"FTX Halts Crypto Exchange Restart Plans"

FTX has abandoned plans to restart its crypto exchange and will instead liquidate its assets to repay customers in full following founder Sam Bankman-Fried's conviction on fraud charges. The company has recovered over $7 billion in assets and reached agreements with regulators to prioritize customer repayment before other claims. Despite objections from customers, a U.S. Bankruptcy Judge ruled that debts must be repaid based on their value at the time of the bankruptcy filing in November 2022, which may result in lower repayments due to cryptocurrency price increases.

via Reuters|
#bankruptcy#cryptocurrency-exchange#cryptocurrency-finance
cryptocurrency-finance2 years ago

"JPMorgan Warns of Bitcoin ETF Mirage, Downgrades Coinbase Stock"

JPMorgan Chase & Co. analysts have downgraded Coinbase Global Inc. to underweight from neutral, citing a potential slump in Bitcoin and waning enthusiasm for cryptocurrency exchange-traded funds (ETFs). The downgrade marks JPMorgan's first sell-equivalent rating on the stock since initiating coverage in May 2021. The analysts predict a 38% drop in Coinbase's shares over the next 12 months, expressing concerns about the potential deflation of cryptocurrency ETF enthusiasm and its impact on token prices, trading volume, and ancillary revenue opportunities for firms like Coinbase.

via Yahoo Finance|
#bitcoin#coinbase#cryptocurrency
cryptocurrency-finance2 years ago

"Bitcoin ETFs: SEC Approval 15 Years After Hal Finney's Tweet Signals Shift in Regulatory Attitude"

Exactly 15 years after Hal Finney's iconic "Running Bitcoin" tweet, the U.S. Securities and Exchange Commission (SEC) approved the first spot exchange-traded fund (ETF) for bitcoin, marking a significant milestone in the cryptocurrency's journey. This approval allows financial giants like BlackRock and Fidelity, as well as Grayscale's Bitcoin Trust, to offer regulated products for investors to gain exposure to bitcoin without the need for managing a cryptocurrency wallet. The move signals bitcoin's increasing adoption in traditional financial circles and its potential for widespread growth as an alternative asset.

via CoinDesk|
#bitcoin#cryptocurrency#cryptocurrency-finance