Hope you had a great weekend, folks. In today’s newsletter, the SEC warned FTX not to pay off creditors with stablecoins, OKX hired a former MAS executive as its CEO in Singapore, and global crypto investment products saw net weekly outflows of over $300 million.Let’s get started.SEC Warns FTX About Stablecoin RedemptionThe SEC warned in a recent filing that it may oppose any attempt by FTX to repay creditors with stablecoins or other digital assets. While some creditors have demanded a cash distribution with repayment in cryptocurrency instead of cash, FTX’s current plan is to repay creditors in cash or…
Author: Crypto Flexs
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Alvin Lang Sep 02, 2024 03:06 Binance launches a new word game themed ‘Scam Prevention’ and is giving away 500,000 Binance Points to eligible users. Binance has announced the launch of a new educational game called Word of the Day (WOTD) themed around ‘Know Your Scam.’ According to Binance, the initiative will run from September 2 to September 8, 2024, giving participants a chance to share in a pool of 500,000 Binance Points. How does it work? All eligible users can participate in up to 2 WOTD games per day. To receive a share…
All major market cap meme coins are down an average of 63.73% from their yearly highs. SHIB, DOGE, and WIF have seen a surge in derivatives volume despite liquidations piling up. The market continues to weaken as the CMF index shows declines across all three major coins. The meme coin craze of March 2024 saw several dog-themed meme currencies hit all-time highs. Since then, all major capitalization dog coins have seen double-digit price rebounds. OG Meme Dogecoin Shows Resilience According to blockchain data from LookOnChain, the top three coins by market cap, Shiba Inu (SHIB), Dogecoin (DOGE), and Dogepart (WIF),…
Solana (SOL) recorded its second worst weekly return of 2024 at the end of August, at 19.14%. Previously, the biggest negative weekly ROI of 25.19% occurred a month earlier in July.Solana OI up 20% as funding rates turn negativeDerivatives markets are currently driving price action as spot net inflows drop to $500 million in August SOL.Last week, Solana’s open interest (OI) fell 12% in the 24 hours after the price dropped below $150. Since then, the price has fallen another 14%, but OI is up 20% in the market. An increase in open interest during a market decline indicates that…
Exchange • September 2, 2024 6:56 AM EDT Posted 1 minute earlier ~ in Updated: September 2, 2024 7:01 AM EDT Trading volumes on centralized cryptocurrency exchanges increased in August, extending a growth trend that began in July after hitting a multi-month low in June.According to The Block’s data dashboard, monthly spot market volume on global cryptocurrency exchanges, including Binance and Coinbase, reached $1.2 trillion in August, up 6.6% from $1.12 trillion in July. Binance had the largest market share in August, with $448.45 billion in volume.US-based cryptocurrency exchange trading volumes increaseMonthly trading volume on centralized exchanges Exchanges that dominate…
Altcoin Sherpa, a prominent cryptocurrency analyst, has warned that one of the largest meme coins is set to see even greater weakness in the coming days. The anonymous trader tells his 221,500 followers on social media platform X that Dogecoin (DOGE) could drop by more than 10% from current levels after suffering losses of more than 20% this month. Sherpa says: “I hate to say it, but DOGE will probably continue to bleed to $0.08s. I still think it’s a good cycle for passive investors, but whatever.” Based on the trader’s chart, the key levels to watch for in a…
Even the most established players are always looking for the next big opportunity. Recently, Tron (TRX) whales, large investors with significant stakes in the Tron (TRX) ecosystem, have started to focus on a new and promising cryptocurrency, Mpeppe (MPEPE). With its innovative approach and potential to drive real-world change, Mpeppe (MPEPE) is garnering the attention of these major investors. Here’s why Tron (TRX) whales are taking a new position in Mpeppe (MPEPE) and why it could have greater potential than TRX. Mpeppe (MPEPE): A new competitor inspired by the success of Pepecoinadvertisement Mpeppe (MPEPE) is inspired by the profound impact…
Iris Coleman Sep 02, 2024 04:15 According to Binance, Binance has finalized the integration of Coin98 (C98) into the Viction Network, allowing deposits and withdrawals to now be accepted. Binance, one of the world’s leading cryptocurrency exchanges, has announced that it has successfully integrated Coin98 (C98) into its Viction Network. According to Binance, as a result, users can now deposit and withdraw C98 tokens on the network. Integrated Details The integration represents a significant step for both the Binance and Coin98 ecosystems. Users will now be able to interact more seamlessly with Coin98’s decentralized…
Episode 54 of Season 6 of The Scoop was recorded as follows: Block’s Frank Chaperone, Austin Reed, FalconX Global Revenue and Business Unit Leader, and U.S. Senator Tim Scott. Listen below and subscribe to The Scoop on YouTube. apologize, Spotify, Google Podcasts, Stitcher, Or wherever you listen to podcasts. Please send feedback and correction requests to (email protected).This episode of The Scoop was recorded live at the SALT Conference in Jackson Hole with U.S. Senator Tim Scott (R-SC) and Austin Reed, Head of Revenue and Business Development at Falcon X Global.Senators Scott and Reid discuss the growing political interest in…
contributor Posted: September 2, 2024 The Cardano Window hard fork upgrade introduced decentralized governance to the network. However, the price of ADA plummeted due to the news selling event. Cardano (ADA) was trading at $0.329 at the time of writing. The price has succumbed to widespread downward pressure. Cryptocurrency Market It’s down 3.3% in the last 24 hours. This decline comes despite major network upgrades aimed at increasing ADA’s usability. Cardano Windows hard fork announced. The Cardano network has completed the Chang hard fork upgrade, which aims to introduce decentralized governance to the Cardano ecosystem. The new governance structure includes…