News
SEC Seeks $5.3B Judgment Against Terraform Labs and Do Kwon
The US Securities and Exchange Commission (SEC) has filed a motion for billions of dollars in disgorgement and civil penalties against Terraform Labs and co-founder Do Kwon. The SEC is seeking $4.7 billion in disgorgement and prejudgment interest, along with $520 million in civil penalties. Terraform and Kwon have proposed lower penalties, and the SEC is also considering additional measures to prevent future violations. (Read More)
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance faces a class-action lawsuit in Canada for allegedly violating securities laws by selling crypto derivative products to retail investors without proper registration, highlighting the significant presence of retail investors. (Read More)
Bitcoin Transaction Fees Experience Significant Drop Following Record High
Bitcoin's average transaction fees have dropped to $8-10 for medium-priority transactions, following a record high of $128 on April 20. This surge coincided with the Bitcoin halving, resulting in $78.3 million in fees, surpassing Ethereum 24 times. The highest fee ever recorded was 37.7 BTC ($2.4 million) paid to ViaBTC. (Read More)
Binance Futures Introduces Updates to Taker Program, Offering Fee Discounts
Binance Futures has introduced a new Taker Program, offering up to 20% fee discounts on USDT-margined perpetual and delivery contracts, and a promotional rate on USDC-margined perpetual contracts. The program will be effective from April 30, 2024. (Read More)
USA and Nigeria to Discuss Digital Economy and AI Advancements for Economic Growth
The US and Nigeria are set to discuss the digital economy, AI advancement, and economic ties at a conference in Abuja. (Read More)
IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions
The US IRS has introduced Form 1099-DA for cryptocurrency brokers to report digital asset transactions, aiming to improve compliance and ensure accurate tax reporting from digital assets starting January 1, 2025. (Read More)
Binance Announces System Upgrade for Improved Performance and Stability
Binance, one of the leading cryptocurrency exchanges, has announced a scheduled system upgrade to enhance overall performance and stability. During the upgrade, users may experience temporary disruptions in services such as new user registrations, logins, and trading. However, the exchange assures users that their funds will remain secure throughout the process. (Read More)
Ethereum Liquid Restaking Drives DeFi TVL to $100B in Q1 2024
DeFi TVL nearly doubled in Q1 2024, reaching $98 billion, partly due to Ethereum's liquid restaking initiatives. However, a recent crypto market pullback has led to a decline to $86.6 billion. (Read More)
US Senators Introduce Bipartisan Stablecoin Bill to Establish Regulatory Framework
Senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payment Stablecoin Act, a new bipartisan legislation aimed at creating a clear regulatory framework for payment stablecoins. The bill aims to protect consumers, promote innovation, and maintain the dominance of the US dollar while addressing concerns related to money laundering and illicit finance. (Read More)
Kraken Introduces Simple, Secure, and Powerful Kraken Wallet
Kraken has launched Kraken Wallet, a self-custodial wallet that offers simplicity, security, and power to users. The wallet allows seamless interaction with popular blockchains, comprehensive portfolio tracking, and WalletConnect integration. With a focus on privacy and backed by Kraken's industry-leading security measures, Kraken Wallet aims to accelerate crypto adoption and empower users in the decentralized world. (Read More)