Revolut has decided to discontinue offering cryptocurrency trading services to US users as of September 2023. This is due to regulatory uncertainties in the US. On Friday, August 4th, a Revolut representative stated that from September 2nd, the company will no longer enable customers in the United States to purchase
Coinbase announced on August 3 that its Q2 earnings were above forecasts despite being sued by the SEC. Financial results for the corporation exceeded Wall Street forecasts. Analysts had forecast a loss of 76 cents per share, thus the company’s actual loss of 42 cents per share was better than
The Australian Securities and Investments Commission (ASIC) has launched a lawsuit against eToro, a stock and crypto trading platform. This is over allegedly allowing its users to engage in “high risk” leverage derivative products, specifically CFDs. On Thursday, August 3rd, ASIC released a statement claiming that eToro Aus Capital Ltd.
BlackRock, a firm that manages $9 trillion in assets, is under investigation by the US government for possible illegal Chinese investments. Legislators are concerned that Americans’ retirement savings are being used to prop up Chinese companies that the United States has blacklisted due to security and human rights concerns. According
FTX co-founder Sam Bankman-Fried is currently in a legal battle that has sparked a debate over First Amendment rights. He contends that his potential imprisonment would violate his freedom of speech. This has led to a discussion about the boundaries of expression during ongoing legal proceedings. Bankman-Fried has been under
The algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, TerraUSD Classic (USTC), is on a meteoric rise today, demonstrating a tremendous upsurge of interest in the stablecoin. CMC reports a 24-hour increase in value of 20.18% for the stablecoin TerraUSD Classic, which now stands at $0.01803. The overnight purchasing momentum
Binance, the world’s largest cryptocurrency exchange, will support the “Terra Classic (LUNC) V2.0.1” network upgrade. As the cryptocurrency exchange will halt deposits and withdrawals of LUNC and USTC. According to an official announcement on May 17, Binance would support the Terra Classic V2.0.1 network upgrade. That is scheduled to take
A new class action lawsuit has been filed against Jump Trading, alleging that the company manipulated the price of the algorithmic stablecoin UST by buying large amounts of the token in an effort to drive its value closer to $1 while concealing this fact from investors. According to the class
After a judge approved bail in the amount of €400,000 ($436,000), the co-founder of Terraform Labs, Do Kwon, is anticipated to be released from jail pending trial, as reported by a Montenegrin news site. The CEO of Terraform Labs, a 31-year-old Korean national, and the company’s ex-chief financial officer, Han
Over $6 million worth of the stablecoin DEI used by the Decentralized Finance (DeFi) protocol DEUS Finance was stolen. PeckShield, a blockchain security company, claims that on May 5 a hacker took advantage of a flaw in the BNB Smart Chain (BSC). More than $1.3 million was stolen in a
