Binance Annihilates $450M in BNB Aiming to Boost Token Value

Binance destroys $450 million worth of BNB tokens in a strategic move to enhance their value, aiming for a leaner supply and scarcity-induced appreciation. Key Takeaways In a bold move to fortify its native token’s value, leading cryptocurrency exchange Binance set ablaze over $450 million worth of BNB tokens in its latest quarterly burn. This meticulously calculated action, announced on …

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X (Twitter) Tests $1 Subscription to Combat Spam and Scam Bots

X (formerly Twitter) is implementing a $1 subscription fee in New Zealand and the Philippines to combat spam and bots. Key Takeaways: X, the social media giant previously known as Twitter, is taking a proactive approach in its ongoing battle against spam bots and scammers. On October 17, the company announced the initiation of a new subscription method, aptly named …

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FTX in Turmoil as Co-Founder Admits Faking Insurance Fund Figures

Co-founder Gary Wang admitted to generating false figures using a random number generator, raising concerns about trust and transparency. Key Takeaways In a revelation that has sent shockwaves through the cryptocurrency world, Gary Wang, co-founder of FTX, has admitted to falsifying the exchange’s insurance fund figures, essentially throwing the platform and its founder, Sam Bankman-Fried, under intense scrutiny. FTX, once …

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Cardano’s Hoskinson Debunks XRP Community Conspiracy Theories

Charles Hoskinson clarifies lack of Ethereum influence on SEC’s actions against XRP, emphasizing the need for evidence-based discourse in crypto. Key Takeaways In a clarifying move during a recent YouTube live session, Charles Hoskinson, the visionary behind Cardano, confronted ongoing conspiracy theories circulating within the XRP community. These conjectures, centered around Ethereum’s alleged sway over the SEC’s legal pursuits against …

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Binance US Infrastructure Access Denied by SEC

A federal judge has denied the U.S. SEC’s request to inspect the technological infrastructure of Binance US, which has implications for cryptocurrency regulation. Key Points In a notable development, a federal judge has denied the SEC’s request to inspect the technological infrastructure of Binance US. This decision hampers the agency’s efforts to ensure compliance with existing securities laws by cryptocurrency …

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Are Oil and Gas Commodities?

When delving into the intricate world of financial markets, one often encounters the term “commodities.” These are the raw materials and primary agricultural products that fuel economies and shape industries. But do oil and gas fall under the umbrella of commodities? In this exploration, we’ll unravel the nature of oil and gas as commodities, dissect the dynamics of the commodity …

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Stanford University Announces Plans to Return Millions Acquired from FTX

Stanford University has decided to return a substantial donation from cryptocurrency exchange, FTX, due to arising ethical concerns related to the source of the funds. Key Points Stanford University, known for its academic excellence and cutting-edge research, has made a bold move by deciding to return a significant donation received from cryptocurrency exchange, FTX. The decision was prompted by concerns …

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Solana’s NFT Marketplace Outperforms the Entire Ethereum NFT Industry

Solana’s top NFT platform is approaching the daily trader volume of all Ethereum-based NFT platforms combined, benefiting from its fast blockchain speed and low transaction fees. Key Points Solana’s leading NFT marketplace is making waves in the crypto world, boasting nearly as many daily traders as all Ethereum-based NFT platforms combined. This impressive feat is a testament to the unique …

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Hong Kong Regulator to Escalate Action Against Unregistered Crypto Platforms Amid JPEX Scandal

Hong Kong’s SFC is cracking down on unregistered crypto platforms post-JPEX scandal, listing licensed and suspicious platforms, enhancing regulatory enforcement. Highlights: In response to the ongoing scandal surrounding the JPEX crypto exchange, the Securities and Futures Commission (SFC) of Hong Kong is firming up its stance against unregulated cryptocurrency trading platforms operating within its jurisdiction. JUST IN: Hong Kong to …

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