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Circle has publicly refuted allegations of improper banking relationships and financing of illicit activities in a detailed response to concerns raised by Senators Elizabeth Warren and Sherrod Brown. The Nov. 30 letter, crafted by Circle’s Chief Strategy Officer Dante Disparte, responds to claims from the Campaign for Accountability, which accused Circle of facilitating illicit financial activities , including banking Justin Sun and financing Hamas. The Campaign for Accountability, led by Michelle Kuppersmith, based its allegations on studies and reports, suggesting ties between Circle and Sun. However, Circle’s response is clear: they have no current accounts with Sun or his entities, including the TRON Foundation or Huobi Global. You might also like: Circle introduces bridged USDC standard to expand stablecoin utility They also noted that the U.S. government has not designated Sun or his companies as ‘specially designated nationals’, although Circle...

A black hat hacker proposed a takeover of KyberSwap’s protocol with terms including a doubling of employee salaries and executive buyouts. In an unprecedented twist, the hacker who stole $47 million in cryptocurrencies from defi exchange KyberSwap issued demands for total control of the protocol and all its assets. The unidentified individual or group attached its terms to a transaction seen on Etherscan, a widely used blockchain explorer.  KyberSwap’s exploiter shared four primary demands including complete control of Kyber as a company, temporary ownership of KyberDAO and its governance mechanism and access to company records. Also, the hijacker said Kyber must surrender all on-chain and off-chain assets. The time-limited offer is valid until early next month, the hacker said.  This is my best offer. This is my only offer. I require my demands to be met by December 10, otherwise, the treaty falls through. KyberSwap hacker You might also like: KyberSwap suffers mul...

Ordinals, this year’s incarnation of NFTs on Bitcoin, have enjoyed a slight resurgence in recent weeks. A bubbly launch peaked on May 7 of this year and quickly subsided, but now Bitcoin’s rally in November has renewed interest in Ordinals. Sniffing an opportunity for profit and prepared with months of practice since May, quant traders lurked. Their opportunity arrived this week at Magic Eden on Bitcoin, an NFT marketplace. They sniped millions. The most highly anticipated Ordinals project of the season, Ordibots, had announced its minting ceremony on the most prestigious Ordinals exchange, Magic Eden. A timeline for its launch was widely publicized. Requirements for whitelisting were extensive. Ordibots’ community discussions were vibrant. The minting ceremony had a tantalizing countdown, with buyers setting alarms to attend – ready to inscribe their NFT on-time. Collectors anticipated the mark-to-market capitalization of the collection to reach untold millions of dollars.  Or...

A moon mission partially funded by Dogecoin has secured regulatory approval.  The moon mission will take a physical copy of the Dogecoin coin to the moon.  The mission is expected to launch by December 23, but must get other regulatory passes before then. Dogecoin’s goal of having a physical copy of its token sent to the moon received regulatory approval for its space mission. This move, which underscores growing developments within the meme coin’s ecosystem, has since observed excitement ripples through its community.  In a recent post on X, Samuel Reid, CEO of Geometric Energy Corporation, confirmed the National Telecommunications and Information Administration (NTIA) gave approval to the company’s “DOGE-1” moon mission. The mission, which is partially funded by Dogecoin, is scheduled to launch in January 2024, after several reported cancellations.  The National Telecommunications and Information Administration (@NTIAgov), a Department of Com...

The US Treasury has announced it is sanctioning crypto mixer Sinbad.io, claiming it’s responsible for laundering millions of dollars stolen by North Korea’s Lazarus group.  According to a Treasury press release, the Sinbad mixer allegedly obfuscated millions of dollars taken from Horizon Bridge, Axie Infinity, and customers of Atomic Wallet. It’s said to have laundered most of the $620 million stolen from Axie Infinity users in March 2022, the majority of the $100 million taken from Horizon Bridge in June 2022, and the bulk of the $100 million stolen from Atomic Wallet users in June this year.  The US also claims Sinbad is used by cybercriminals “to obfuscate transactions” that are linked to “ sanctions evasion, drug trafficking, the purchase of child sexual abuse materials , and additional illicit sales on darknet marketplaces.” Authorities may have shut down the mixer’s original address, however, it appears that a mirror of the seized site was apparently registered in...

Shiba Inu enthusiasts have been busy the past few months as Shibarium gains momentum. Dogecoin is facing challenges, but supporters remain steadfast. Meanwhile, Everlodge continues to strengthen. SHIB is bullish Trading at $0.0000082, SHIB is firm.  Despite falling last week, the token is up 5% in the past month. At the same time, its average daily volume exceeds $100 million, pointing to sustained interest. Even so, SHIB is volatile . Between June and August, the token rose by 63% before stabilizing. Momentum rose again in October and November, forcing the token up 35%.  You might also like: Shibarium sees surge in daily transactions as SHIB gains 15% in a week Technical indicators pick out $0.0000091 as a critical resistance level. A bullish breakout could bring $0.0000106 into focus.  As November 2023 draws close, analysts expect the token to rally, buoyed by bullish sentiment in December. In 2024, analysts expect Shiba Inu to register new highs. Dogecoin ...

Troubled cryptocurrency exchange Zipmex has proposed its creditors nearly 30 cents per dollar of claims as part of its restructuring plan. Embattled crypto exchange Zipmex has offered its creditors 29.35 cents per dollar as the firm is seeking new options to stay afloat under the revised restructuring plan, Bloomberg has learned, citing sources familiar with the matter. According to the report, key creditors do not agree with the terms of the new proposal, demanding an independent audit of Zipmex’s balance sheet. Details of Zipmex’s latest repayment plan will be approved or denied through early Dec. 2023, sources say. Zipmex’s Group head Marcus Lim did not go into details, but told Bloomberg in a commentary that the sources have obtained inaccurate information. You might also like: Thai regulators want to know more about Zipmex accounts Earlier, crypto.news reported that Zipmex decided to suspend all digital asset trading activities in Thailand until Jan. 3...

Exploring the Ispolink ecosystem, unified information about the Ispolink economy, platform features, and its diversity.  In the ever-evolving landscape of blockchain and decentralized technologies, ecosystems play a crucial role in shaping the future of industries. One such ecosystem that has been gaining attention is Ispolink. Let’s delve into the various aspects that make up the Ispolink ecosystem. Overview of Ispolink Ispolink is a platform designed to connect blockchain and crypto talent with job opportunities in the decentralized space. With a focus on creating a seamless experience for both employers and job seekers, Ispolink aims to bridge the gap in the rapidly growing blockchain job market. Key Features 1. Decentralized Job Board: Ispolink provides a decentralized job board that facilitates the hiring process for blockchain companies. This platform allows companies to post job openings and find suitable candidates while offering job seekers a curated selection of opportun...

Is the settlement further indication that the crypto industry’s Wild West era is winding down, with a new epoch marked by regulation and taxation beginning? Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States.  No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the history of the U.S. Treasury Department. Moreover, Binance’s founder, CEO and principal owner Changpeng “CZ” Zhao — deemed by many the most powerful individual in crypto — will be sidelined from the firm for at least three years after the naming of a court-appointed monitor. Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myse...

The U.S. dollar experienced a downturn against the majority of local currencies in the forex markets, including that of BRICS . The Russian ruble outperformed the U.S. dollar this month after recovering to 88.60 from 101. The U.S. dollar index (DXY) is now at 103 on Tuesday and remains in the red for two consecutive days. This is the lowest the USD has been since August this year. The dip comes at a time when the BRICS alliance is looking to promote local currencies by ditching the U.S. dollar for global transactions. Also Read: AI Predicts Gold Price for December 2023 (XAU/USD) Source: MarketWatch Leading currencies like the Euro, Pound, Yen, Chinese Yuan, and the ruble, among others, came on top of the U.S. dollar this week. Gold prices climbed above the $2,000 mark on Monday and the development is adding pressure on the USD’s prospects. Read here to know how many sectors in the U.S. will be affected if BRICS stops using the dollar for trade. The move could have las...

As per the data on Shibburn, Shiba Inu’s (SHIB) burn tracker, the project’s burn rate has spiked by 499,363.34%, with over 264 million tokens burnt in 24 hours. SHIB’s burn portal launched in April 2022 and has incinerated thousands of tokens ever since. The project’s burn rate took a hit in mid-2023, most likely due to a drop in network activity. Moreover, the asset’s price has struggled for most of this year, which may have led to less user interest. Also Read: Shiba Inu: How Much To Invest To Be a Millionaire if it Hits $0.001? Source: Shibburn The latest burn spike is due to one transaction in particular, which destroyed almost 261 million SHIB tokens. The number of tokens burnt in the last few days was low, and a sudden increase in tokens burnt may have caused the burn rate to spike. Last week, SHIB’s burn rate spiked 47000% when one user burned almost 27 million tokens. Will Shiba Inu’s price rise after the burn spike? ...

On November 21, Tether published a new blog post detailing how it has collaborated with the United States Department of J US tice (DoJ) to assist in freezing Tether s tied to alleged crimes.  The post also details how it has “recently onboarded the United States Secret Service into its platform and will be working with the Federal Bureau of Investigation to do the same.” Paolo Ardoino, who is the chief executive officer at Tether, chief technology officer of Bitfinex, and chief strategy officer at Keet, stated that “Tether remains steadfast in its commitment to supporting law enforcement efforts and aiding victims in their recovery. We condemn the misuse of USDT or any cryptocurrency for illicit purposes and are fully committed to collaborating with global law enforcement agencies .” Tether froze $225M but $70M slipped the net Read more: Tether says it makes money but can’t ditch loans Tether is j US t one of the firms the US law enforcement apparat U...

Prosecutors might argue that Changpeng Zhao faces up to 10 years in prison. Despite Zhao’s voluntary appearance in the U.S., the court deems him a manageable flight risk. The former chief of the SEC Office of Internet Enforcement stated that Zhao enabled a range of illicit actors to use Binance freely. A recent filing in the legal case against the former CEO of Binance, Changpeng Zhao, revealed that Zhao could face a substantial prison sentence of up to 10 years. On November 24, the prosecutors claimed that Zhao voluntarily appeared in the U.S. to face justice. The court stated that Zhao was allowed to remain free until his sentencing. The decision failed because the court “believed Mr. Zhao presented no flight risk.” Contrary to the perception that the court had no concerns about Zhao being a flight risk, the filing clarified that “Zhao presented a flight risk that could be managed.” According to the filing, requiring Zhao to remain in the U.S. and ...

The FLEX token has registered significant gains in the past 24 hours while data suggests the asset might be manipulated by large whales.  FLEX is up by 360% in the past 24 hours and is trading at $2.26 at the time of writing. Following the recent rally, the asset’s market cap rose to $222 million. However, FLEX’s daily trading volume witnessed a 7% decline and is currently standing at around $81,000. FLEX price, social volume, active withdrawals and active addresses – Nov. 27 | Source: Santiment Data shows that FLEX has been constantly moving between $2.25 and $0.45, with sudden movements, since it dropped from its all-time high (ATH) over the past four months of $8.16 set on Aug. 10.  You might also like: Vitalik Buterin unveils major overhaul of Ethereum staking to enhance decentralization According to data provided by the market intelligence platform Santiment, FLEX didn’t witness any withdrawals over the past two days. This could indicate the anticipat...

An initial coin offering (ICO) is a fundraising method in which a startup sells a new crypto to raise funds. Investors receive tokens in exchange for their financial contributions.  In many ways, an ICO is the crypto equivalent of an initial public offering (IPO). Investing in crypto ICOs is popular due to their potential for high returns. Early investors often benefit from lower prices, and some projects even offer bonuses. Several projects, such as Ethereum, Cardano, and Tezos, emerged through ICOs. In today’s market, one new ICO project, Galaxy Fox (GFOX), is garnering significant attention.  What makes it unique? GFOX, what you should know Galaxy Fox Features a web3 runner game with NFTs that increase players’ chances of winning. Their incentive structure rewards the top 20% of players with 50% of the prize pool, financed by in-game asset purchases. The remaining half supports ongoing development.  The Galaxy Fox Stargate is a reward pool for staking, r...

A Solana (SOL) competitor is suddenly soaring amid news that stablecoin issuer Circle (USDC) is investing in the blockchain project. The Sei Network (SEI), the new layer-1 blockchain that claims to be a blockchain faster than Solana, reached a high of $0.250 after the Circle announcement, a more than 110% increase from its value of $0.118 on November 10th. Circle said they were investing in the SEI network to expand use cases for USDC, its dollar-pegged digital asset. SEI has slightly retraced and is trading for $0.239 at time of writing. Said SEI, “SEI is designed specifically to address the primary use case of cryptocurrency – the exchange of digital assets. This blockchain isn’t just fast; it’s the fastest, achieving 390ms time to finality and boasts unparalleled speed. Through integration with SEI, USDC will provide developers and entrepreneurs around the world something they’ve never had before: the ability to build products and commerce on an ...

A widely followed crypto analyst is expressing bullish sentiment on the native token of a blockchain oracle network that launched its permissionless mainnet earlier this week. In a new video, the anonymous host of the InvestAnswers channel tells his 453,000 YouTube subscribers that he is bullish on Pyth Network (PYTH) after modeling PYTH’s future price based on Pyth Network’s market cap share relative to its competitor Chainlink (LINK). According to the analyst, PYTH could surge by 188% from the current level as its market cap share relative to Chainlink’s grows beyond 20%. “The bear case is $1.48 by 2025 [when PYTH’s market cap share relative to Chainlink’s is 20%]. If it goes to 30% of Chainlink’s market cap, it could go to $2.78. If it goes to half of Chainlink’s market cap, it could go to $5.16 … if PYTH goes to Chainlink’s market cap, which is technically feasible, and Chainlink hits the Super Bowl target at $27-$28 billion, the ...

XRP’s price has surged by over 80% since the beginning of the year. The token saw a surge in new investors after Ripple was partially victorious in its legal battle with the SEC (Securities and Exchange Commission). XRP is one of the few cryptos legally declared as a non-security for retail investors. 6Although the token has faced a 5.% and 11.6% correction in the weekly and 14-day charts, it is still up by over 11.7% over the previous month. Moreover, analysts anticipate the token to continue its bullish trajectory till the end of November. Also Read: Ripple XRP Could Rally 480% and Hit $3.8: Predicts Analyst Source: CoinGecko According to PricePredictions, XRP could rise to $0.6746 by Nov. 28, 2023. The price rise would translate to a growth of about 10% from current levels. The platform also predicts the token will continue surging well into December 2023. CoinCodex predicts that XRP will rise to $0.8265 by Nov. 25, 2023, a gain of around 35% from its current price....

In a Nov. 24 announcement, the Hong Kong-based securities firm Victory Securities has shared the news that it has secured official approval from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset trading and consulting services to retail investors.  According to the firm’s executive director, Chen Peiquan, this makes it the first licensed corporation in Hong Kong to be given permission to offer such services to retail investors. Peiquan says these developments highlight growing interest in virtual assets, noting in the announcement that “the amount of virtual asset transactions and the number of new customers in the third quarter of this year more than tripled from the previous quarter.” You might also like: Crypto VC firm CoinFund enters Hong Kong as capital moves to Asia As part of the announcement, the company expressed its commitment to providing investment advice on virtual assets, publishing relevant research reports, and focusing on i...

As the cryptocurrency industry awaits a massive step toward the mainstream in the form of the United States Securities and Exchange Commission (SEC) approving a spot Bitcoin (BTC) exchange-traded fund (ETF), data shows that it could unlock over $70 billion in potential new capital influx .  Specifically, the recent analysis by Glassnode has shown that the potential infusion of capital from different sources into this new product in the US’s $7 trillion ETF products market could total around $70.5 billion, according to its report published on November 20. Indeed, the analysts at the cryptocurrency onchain and financial metrics platform said that these capital inflows into a spot Bitcoin ETF could stem from two key sources – stock and bond markets and the gold market – possibly receiving approximately $60.6 billion from the former and about $9.9 billion from the latter. Furthermore, as Glassnode’s B2B contributor Marcin Miłosierny explained, “the impa...