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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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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The Anatomy of a Crisis — Dissecting CoinEx’s Response to the $70 Million Hack

In an industry as young and volatile as cryptocurrency, hacks are unfortunately a common headline. Last week, CoinEx joined the list of exchanges that have faced this ordeal. This incident didn’t just test the platform’s security measures; it also put its crisis management strategies under the microscope.  Unlike other exchanges that have suffered similar breaches, CoinEx’s response has been exemplary, …

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Snapchat’s “My AI” Chatbot Draws UK Watchdog’s Ire Over Data Privacy Concerns

The UK’s ICO investigates Snapchat’s “My AI” chatbot for privacy concerns, focusing on potential risks to users, particularly minors. Compliance may affect data processing. Key Takeaways Snapchat, renowned social media titan, is navigating turbulent waters as the UK’s Information Commissioner’s Office (ICO) scrutinizes its artificial intelligence (AI) chatbot, “My AI.” Highlighted concerns stem from alleged deficiencies in privacy risk assessments, …

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EOS EVM Gets a V6 Upgrade and USDT Bridging

EOS EVM (Ethereum-compatible EOS version) upgrades to v0.6.0, adding USDT bridging, improving DeFi capabilities, and enhancing compatibility with EOS Native, fostering DeFi growth. EOS EVM Gets a V6 Upgrade and USDT Bridginghttps://t.co/AUVrstXkfa — ️visionrz (@Iamvisionrz) October 17, 2023 EOS EVM, the Ethereum-compatible version of EOS, has taken a significant step forward with the release of version 0.6.0. This upgrade introduces …

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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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HSBC Bank Users Gain Access to SHIB and XRP Payments Through New Partnership

HSBC partners with FCF Pay, enabling customers to pay mortgages and loans with cryptocurrencies like SHIB and XRP, signifying growing crypto adoption. Key Points Blockchain payment system, FCF Pay, has announced a groundbreaking partnership enabling customers of HSBC, one of the largest global banking and financial service firms, to pay their mortgages and loans using cryptocurrencies. This partnership allows the …

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Velocity Unleashed: Bybit Collaborates with Rik Oostenbroek for NFTs

Bybit, the world-renowned cryptocurrency exchange, has joined forces with artist Rik Oostenbroek to launch the highly anticipated Velocity Series NFT. This groundbreaking collaboration brings together Bybit, Oracle Red Bull Racing, and digital artists to combine technology and artistry in a groundbreaking way. In a nutshell, here are the key points: 1. Bybit and Rik Oostenbroek collaborate for the Velocity Series …

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