News
Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety
K33 Research analysts warn that the potential return of over $9 billion worth of Mt. Gox-era Bitcoin could unsettle the market and exert negative price pressure on Bitcoin. Creditors of the now-defunct Mt. Gox crypto exchange have shared updates on their claims, indicating that Bitcoin repayments could begin as early as next month. The sheer quantity of Bitcoin involved could create an "overhang" and potentially impact Bitcoin's price in the coming weeks. (Read More)
Worldcoin Announces Circulating Supply Update and Sales to Trading Firms
Worldcoin Foundation's subsidiary, World Assets Ltd., plans to sell WLD tokens to meet the demand for orb-verified World IDs and support the growth of the Worldcoin network. The sales will be conducted through private placements with trading firms outside the US, with measures in place to prevent resales to US individuals. This update will result in an increase in the circulating supply of WLD tokens. (Read More)
Binance Futures to Introduce USDC-Margined BOME, TIA, and MATIC Perpetual Contracts with Up to 75x Leverage
Binance Futures is set to expand its trading offerings by launching USDC-margined perpetual contracts for BOME, TIA, and MATIC cryptocurrencies. These contracts will provide traders with leverage of up to 75x, allowing for enhanced trading opportunities. The launch is aimed at enhancing users' trading experience and increasing trading choices on the Binance Futures platform. (Read More)
Binance to Phase Out Deposits on BNB Beacon Chain (BEP2)
Binance, one of the leading cryptocurrency exchanges, has announced its plan to gradually cease support for deposits on the BNB Beacon Chain (BEP2). The sunset of the BNB Beacon Chain is expected to be completed by June 2024. Binance will no longer process deposit requests for all BEP2 tokens, except for BEP2 Binance-pegged tokens (B-tokens), starting from May 15, 2024. (Read More)
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)