In a letter to Treasury Secretary Janet Yellen, U.S. Senator Elizabeth Warren expressed support for implementing strong anti-money laundering and counter-financing of terrorism (AML/CFT) measures on stablecoins. Warren’s letter emphasizes the importance of adopting the full suite of AML tools that Treasury requested in a November 2023 letter to Congress. Warren emphasizes that cryptocurrencies, especially stablecoins, pose a growing threat to national security. She specifically mentions that Iran and Hamas rely on cryptocurrencies to finance and fund terrorist attacks. To effectively combat these threats, Warren argues that any new cryptocurrency legislation should include the comprehensive…
Author: Crypto Flexs
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A prominent cryptocurrency analyst believes one decentralized exchange (DEX) altcoin is poised for a breakthrough. Pseudonym analyst Kaleo says His 634,800 followers on social media platform He thinks decentralized finance (DeFi) altcoins look good compared to Bitcoin (BTC). “I think the BTC pair is at a bottom and as soon as BNB hits new highs, we could see a break from the downtrend it has been stuck in for the past few years.” Source: CryptoKaleo/X Kaleo also believes that CAKE will strengthen against the dollar based on a pattern that has been repeated since November 2023. “All legs of the…
Layer 1 • April 17, 2024 11:12 AM EDT Posted 1 minute ago In ~ Updated: April 17, 2024, 11:35 AM EDT BytePlus, the enterprise technology services subsidiary of TikTok owner ByteDance, is partnering with Mysten Labs to enhance web3 gaming and SocialFi offerings on Sui, Mysten’s blockchain network, the project foundation announced in a blog post Wednesday morning. BytePlus will work with Mysten Labs to provide a variety of services to Sui, including recommendation solutions and augmented reality products.BytePlus offers several integrated products for builders, including AI recommendation algorithm solutions and BytePlus CDN, a network of servers and data…
In a groundbreaking step to provide stability and oversight to the rapidly expanding world of digital finance, U.S. Senators Kirsten Gillibrand and Cynthia Lummis introduced the Lummis-Gillibrand Payment Stablecoin Act. The bill, which has been months in the making, seeks to establish a comprehensive regulatory framework for payments stablecoins and address concerns related to their use and potential risks. Bipartisan Effort to Address Stablecoin Regulation The introduction of the Lummis-Gillibrand Payment Stablecoin Act represents a bipartisan effort to address the regulatory challenges posed by stablecoins. With senators from both sides of the aisle coming together, the need to find a…
CoinGecko’s Cryptocurrency Industry Report for Q1 2024 shows the continued growth and development of the cryptocurrency market. This report highlights key statistics and trends observed in the first quarter of 2024. Bitcoin (BTC) was the top performer, growing 68.8% to an all-time high of $73,098. This growth can be attributed to the approval of a U.S. spot Bitcoin ETF in early January. The report also indicates that Bitcoin ETFs will have over $55.1 billion in assets under management (AUM) as of April 2, 2024. Ethereum (ETH) also saw positive growth, with the total number of…
“It took (Binance) more than two years to realize that there was no room for negotiation, and it is unfortunate that a global power cannot receive special treatment, especially at the price of exposing the country’s financial system to vulnerabilities. .” The report said, citing sources.
Binance, the world’s largest cryptocurrency exchange, is currently converting billions of dollars of Safe User Asset Fund (SAFU) to USD Coin (USDC). This measure aims to strengthen user trust by utilizing a more stable and transparent stablecoin. At the same time, Binance is preparing to re-enter the Indian and Dubai markets. Why Binance Converted SAFU to USDC Founded in 2018, SAFU serves as an emergency fund to protect Binance users in extreme situations. The SAFU fund, previously comprised of Bitcoin, Tether, True USD, and Binance’s own BNB, was essential to protect user assets from potential losses. Notably, conversions to USDC…
Ethereum loses more ground compared to Bitcoin in NFT trading volume. Apecoin continues to decline. Ethereum (ETH) remains prominent in the NFT conversation. However, recent data shows that dominance has declined. ApeCoin (APE), the ecosystem token associated with the Bored Ape Yacht Club (BAYC), an Ethereum-based NFT collection, has experienced a decline in relevance, reflecting the recent BAYC floor price drop. Ethereum NFT trading volume continues to decline. NFTs have been primarily associated with Ethereum in the past, given the large number of projects hosted on the platform. However, the emergence of alternative platforms has broken down these monopolies. In…
Updated: April 17, 2024, 7:07 PM EDT Sam Altman’s Humanity Proof Project World Coin world -4.91% We will soon begin leveraging our own layer 2 blockchain to improve efficiency as we onboard new users.The new layer 2, called World Chain, will be secured by Ethereum, according to the statement. Users who are confirmed to be human will also “enjoy priority block space over bots and some free gas,” the statement said.Officially, the Worldcoin Foundation is planning to launch a new Layer 2, but Worldcoin was primarily developed and promoted by Tools for Humanity.Altman, CEO of popular artificial intelligence company OpenAI,…
Chainlink’s LINK price retested the $12.00 support area. The price is currently looking at a recovery wave above the $13.50 and $15.00 resistance levels. Chainlink price is showing bearish signs below the $15.00 resistance level against the US dollar. The price is trading below the $14.20 level and the 100 simple moving average (4-hours). There is a major bearish trendline forming on the 4-hours chart of the LINK/USD pair with resistance near $13.50 (data source from Kraken). Breaking out of the $15.00 resistance area, the price could begin a significant rise. Chainlink (LINK) price is showing a steady upward trend.…