Elon Musk Denies Dogecoin Insider Trading Allegations
Elon Musk, Tesla’s CEO, denies using Dogecoin wallets linked to insider trading. He refutes the racketeering operation accusation. The class-action complaint alleges involvement in boosting the meme-based cryptocurrency. A group of Dogecoin investors filed the case, which alleges that Musk manipulated the market and profited from his enormous Twitter following.
Read full storyCoinbase Criticizes SEC, Delays Cryptocurrency Regulations
Coinbase, a leading cryptocurrency exchange, slams the SEC for avoiding questions and stalling digital asset regulations. The company expresses frustration with the delay in establishing a clear regulatory framework. Coinbase calls for greater transparency and regulatory clarity from the SEC. Coinbase’s criticism comes after the SEC requested additional time to respond to the exchange’s rulemaking petition.
Read full storyBank of Canada Raises Interest Rates Again
Bank of Canada Raises Interest Rates AgainPhoto byWalletorMany people were shocked when the Bank of Canada raised its benchmark interest rate to 4.75%, the first hike since January. This decision comes as the Canadian economy has shown unexpected resiliency, with faster-than-expected growth.
Read full storyEurozone Officially Enters Recession
Eurozone Officially Enters RecessionPhoto byWalletor. In a recent announcement, the eurozone has officially entered a recession, marking a concerning downturn in its economic performance. The latest data released by Eurostat, the EU's statistics office, reveals that the eurozone has experienced contraction for two consecutive quarters, meeting the technical definition of a recession. This development is indicative of the waning growth momentum within the single currency area, which has grappled with various challenges such as energy shocks, inflation, war, and monetary tightening.
Read full storyLouis Vuitton Set to Unveil $42K NFT Collection
With its latest venture into non-fungible tokens (NFTs), luxury fashion company Louis Vuitton is ready to create ripples in the digital world. The French fashion conglomerate has announced the release of an exclusive range of NFTs. These “Treasure Trunks” NFTs will be turned into digital collector versions of their iconic trunks. Each of these one-of-a-kind digital treasures is priced at roughly $42,000.
Read full storySEC Sues Coinbase Over Securities Rule Violations
SEC Sues Coinbase Over Securities Rule ViolationsPhoto byWalletor. The Securities and Exchange Commission (SEC) of the United States has filed a lawsuit against cryptocurrency exchange Coinbase. They claimed that the corporation had broken security rules. The lawsuit simply contends that Coinbase has been functioning as an unregistered securities exchange.
Read full storyElon Musk Lawsuit Adds Insider Trading Allegations
Tesla CEO Elon Musk is in hot water after investors filed a class action lawsuit accusing him of market manipulation with Dogecoin. They have added insider trading allegations to the original lawsuit. Investors claim that Elon Musk’s actions have cost them a lot of money.
Read full storyUS debt-ceiling crisis: The House reaches the deal on raising the debt ceiling
On Wednesday night, The House of Representatives approved a deal enabling the US to raise its debt ceiling for more than two years. The increase in debt ceiling means that the US will be able to borrow more money during the next two years.
Read full storySenator Elizabeth Warren Calls to Shut Down Crypto-Funded Fentanyl Trade
United States Senator Elizabeth Warren has made a call on a Senate hearing that took place on May, 31 regarding crypto-funded fentanyl production. In addition, Elisabeth Warren used data from research that Elliptic, a research company, conducted to support her stance. A Treasury official said that Chinese drug producers find crypto payments “appealing.” Research from Elliptic showed that more than 90 Chinese businesses that sell fentanyl accept cryptocurrency payments.
Read full storyRussia to Use Crypto Exchanges For International Transactions
Russia has been making strategies for cryptocurrencies in the country for a long time now. Anton Siluanov, Russia’s Minister of Finances, talked about a new payment system earlier in April. According to him, this new payment system will include cryptocurrencies.
Read full storyMichael Saylor Advocates Bitcoin as a Security Solution and Defense Against Deepfakes
Michael Saylor, the executive chairman of MicroStrategy, talked about how cryptocurrencies, notably Bitcoin, may advance security and address problems with digital security in a recent interview with Kitco News. He especially mentioned Bitcoin as a potential defense against deep fakes and other cybersecurity concerns brought on by artificial intelligence.
Read full storyGTA 6 Could Introduce Crypto
According to some reports, you can make crypto and real-life money by playing GTA 6. GTA 6 is a new game that will come out soon. There are words that you will be able to earn crypto in the game and then sell them for U.S. dollars.
Read full storyElon Musk’s Warning: Don’t “Bet the Farm” on Dogecoin
Elon Musk, the CEO of Tesla and a prominent figure in the world of cryptocurrencies, has issued a warning to investors about Dogecoin. Known for his intriguing remarks and actions related to digital currencies, Musk cautioned against staking everything on the meme cryptocurrency during The Wall Street Journal’s CEO Council Summit. While he expressed a fondness for Dogecoin, he emphasized the need for caution due to its volatility and associated risks.
Read full storyRon DeSantis Vows To Protect Bitcoin Rights as President
Florida’s current governor, Ron DeSantis, announced he is going to run for the 2024 United States presidency. He shared the announcement on Twitter Space with Elon Musk and wrapped up the remarks on cryptocurrency.
Read full storyGermany Officially Enters Recession
Germany, known as the economic powerhouse of Europe, has officially entered a recession as its economy contracted slightly in the first quarter of 2023. This downturn follows a decline in the previous quarter, meeting the commonly accepted definition of a recession. The news has raised concerns both domestically and internationally, as Germany’s economic performance often serves as a barometer for the broader European economy.
Read full storyUS Authorities Seek Stolen Crypto Assets from Binance
Recently, the United States has seen an increase in crypto-related frauds, leaving many people vulnerable to financial losses. Among these troubling developments is the filing of a civil forfeiture case. This case was filed by the US Attorney’s Office to collect stolen cryptocurrency from Binance accounts. The goal is to restore the money of the victims of such fraudulent activities.
Read full storyBitcoin of America Ceased Unlicensed Crypto ATM Operations
Bitcoin of America, a well-known cryptocurrency ATM operator, will cease operations there. This decision has been made with the consent of the Connecticut Department of Banking. The company made this choice because it was unable to secure the required money transmitter license to operate Bitcoin ATM kiosks.
Read full storyFTX To Restart as FTX 2.0
In a recent court filing on May 22, it appears that plans are underway to revive FTX, the popular cryptocurrency exchange. The filing suggests that a restart of the platform, known as FTX 2.0, is in motion and nearing completion. FTX creditors, closely monitoring the exchange’s developments, drew attention to a compensation report submitted by the company’s bankruptcy lawyers, indicating that the process was in its final stages.
Read full storyMeta Fined $1.3B Over Data Transfers to The US
Meta, formerly known as Facebook, has been hit with a record-breaking 1.2 billion euro ($1.3 billion) fine by the Data Protection Commissioner (DPC) in Ireland, the company’s lead privacy regulator in the European Union. The fine is a result of Meta’s mishandling of user information and its continued transfer of personal data to the United States. This penalty surpasses the previous record EU privacy fine imposed on Amazon Inc by Luxembourg in 2021.
Read full storyPresident Biden Won’t Agree To Debt Deals That Protect Crypto Traders
In a recent speech at the G7 summit about budget negotiations, President Biden made it clear that he would not agree to any debt deals that protect crypto traders. This statement comes at a time when the cryptocurrency industry is facing increased scrutiny from US regulators. Biden’s remarks highlight his commitment to ensuring a fair and equitable financial system that does not allow for tax evasion or the exploitation of vulnerable Americans.
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