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Binance reportedly said that they were doing a wallet aggregation process to ensure the safety of user funds. A crypto wallet belonging to trading platform Binance has spent 530 Ether (ETH), worth around $843,797, in gas fees in just 24 hours, according to blockchain data explorer Etherscan.  On Sept. 21, gas fees on the Ethereum network went from a minimum of 6 gwei, which is around $0.17, up to a maximum of 332 gwei, which is around $11.2, per transaction. The spike in gas prices was attributed to a wallet belonging to Binance called “Binance 14,” which spent almost $1 million on ETH network gas prices. 30-day gas usage chart for the Binance crypto wallet. Source: Dune Analytics Members of the community expressed their opinions on the huge gas fees spent by the exchange. Web3 investor Belinda Zhou described Binance engineers as "incapable," and said that they've got the configuration wrong and set the gas allowance too high.  Adam Cochran, a partner at venture capi...

In the ever-evolving world of cryptocurrencies, some of the top crypto traders are setting their sights on two alt coins to watch: Ripple ($ XRP ) and InQubeta ($QUBE) . These industry experts are throwing their support behind these blockch AI n projects, recognizing each platform’s potential for growth and success in the months ahead.  Given the backing of these prominent traders, experienced and beginner cryptocurrency investors and enthusiasts alike are now wondering if it’s the right time to buy $XRP and $QUBE. Let’s take a closer look at these two digital assets and find out why top traders are bullish on these altcoins. The re-emergence of Ripple ($XRP) While crypto market newbie  InQubeta ($QUBE)  is generating considerable buzz, Ripple, which is a more established cryptocurrency, continues to hold its position. $XRP, Ripple’s native token, is the fourth largest cryptocurrency in terms of market capitalization. It...

Cardano price was struggling to hold above $0.25 as cryptocurrencies traded mostly flat. ADA has however failed to break higher since the broader market dip last year. Cardano ( ADA ) is struggling for an upside push with the past week only seeing a 2.2% uptick as per data from CoinGecko at the time of writing. Indeed, ADA is down 43% since sliding lower amid the crypto winter. ADA /USD traded just above $0.25 on Wednesday afternoon. With the cryptocurrency largely negative, the market outlook amid the historically slow September doesn’t look particularly promising for bulls. Data on DeFiLlama shows Total Value Locked (TVL) in assets on the chain has declined 8% in the past month to $152 million. However, as Bitcoin is poised above $27k and altcoins are showing signs of waking up, a spike in volatility could help ADA buyers. But will bears give up territory? Cardano price outlook A look at Cardano’s performance over the past week we see sel...

The Bullish The Graph (GRT) price prediction ranges from $0.13 to $0.21. Analysis suggests that The Graph price might reach above $0.2. The Graph’s bearish market price prediction for 2023 is 0.055. Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies. The Graph (GRT) is one of them. The Graph (GRT) is an open-source and decentralized blockchain data indexing platform. Notably, it was intended to facilitate querying on the Ethereum network. The Graph network also enables developers to create subgraph-based APIs for distinct queries. If you are interested in the future of GRT and want to know its predicted value for 2023, 2024, 2025, and 2030, keep reading! Table of contents The Graph (GRT) Market Overview What Is The Graph (GRT)? Analysts’ View on The Graph (GRT) The Graph (GRT) Current Market Status The Graph...

Stanford University intends to return all funds donated by the crypto trading company and related entities like Bankman-Fried’s hedge fund Alameda Research. A spokesperson for the prestigious California-based university told Bloomberg lawyers wanted to return millions received from Sam Bankman-Fried’s FTX to the defunct crypto exchange debtors. A lawsuit alleged that FTX accounts transferred around $5.5 million to Stanford.  At least one other entity has pledged to return funds received from FTX. In June 2023, the Metropolitan Museum of Art shared plans to surrender $500,000. Bankruptcy administrators have also mentioned several clawback missions in court filings. FTX sues SBF’s parents FTX administrators sued Joseph Bankman and Barbara Fried to recover millions in diverted funds, crypto.news reported on Sep. 19. Notably, both parents were Standford law professors for over three decades.  According to court filings, FTX, under SBF, shelled out millions to financ...

A new UK bill, due to come into force later this year, would allow police to confiscate potentially illicit crypto before suspects have been convicted or even arrested, reports CoinDesk. As it stands, police can freeze digital assets they suspect are linked to crimes such as drug trafficking, cybercrime, and terrorism, but they’re not allowed to seize them. The new Economic Crime and Corporate Transparency Bill would reportedly be particularly useful in cases where “assets have been identified, significant links to criminality can be proven, but the subject of the investigation is unlikely to face justice in the UK,” (via CoinDesk). This would apply to criminals targeting UK citizens from outside the UK . “This new bill enabling law enforcement to recover crypto assets in this way will be a powerful tool, and it is anticipated we will see a substantial increase in digital assets being recovered,” Louise Abbott, partner at Keystone Law said in a statement. Phil Ariss, director of...

XRP’s resurgence at $0.5078 sparks bullish hopes amid crypto market uncertainties. Crypto expert Crypto Kaleo predicts a robust XRP comeback, eyeing SEC’s appeal outcome. Ripple seizes opportunities as BTC’s dominance wanes, poised for mainstream adoption. XRP has climbed back to a promising $0.5078 after touching a low of around $0.46 on September 11, reigniting hope for more bullish price action. Despite many altcoins having retraced the gains seen after July’s summary judgement in the United States Securities and Exchange Commission’s (SEC) lawsuit against Ripple, the sustained interest in digital assets has so far prevented a major crypto market nosedive. Concerns about mounting inflation and interest rates fuel this interest, and institutional and retail investors seek solace in digital assets. I’m long $XRP. The USD chart has found solid support after completely retracing to the pre July SEC news levels, while the BTC pair is on ...

A total of 21 countries have officially agreed to ditch the US dollar in 2023. The BRICS alliance and the ASEAN bloc of nations are putting forward their local currencies, bypassing the US dollar for global trade. Tesla CEO Elon Musk revealed recently why BRICS , ASEAN , and other countries are looking to end their reliance on the US dollar. Also Read: BRICS: Can Saudi Arabia Ask the US To Pay For Oil in Local Currency? The White House’s pressure on other developing nations is what led the BRICS to cut ties with the US dollar. Many other countries, apart from BRICS and ASEAN , are now aiming to end their dependency on the US dollar. Read here to know how the American economy will be impacted if the BRICS completely ditch the US dollar for trade. Elon Musk Reveals Why BRICS & ASEAN Countries Are Ditching the US Dollar Elon Musk revealed that US foreign policy is heavily one-sided, eventually weakening the economies of developing countries. The highhandedness o...

South Korean regulators are currently monitoring the trading in the OTC crypto market to avoid its criminal use. The South Korean Supreme Prosecutors’ Office Criminal Law Academy held a session focusing on virtual currencies’ challenges and issues in light of rising crimes involving virtual currencies, such as fraud and money laundering. Deputy Chief Prosecutor Ki No-seong and Park Min-woo from the Financial Services Commission addressed concerns, particularly highlighting the issues surrounding over-the-counter (OTC) trading and the deposit business of virtual currencies. They emphasized the need for stricter regulations as these platforms often operate outside standard oversight, providing avenues for illegal activities. OTC trading in crypto: main concerns OTC trading in the context of virtual currency allows investors to maintain privacy and confidentiality in their transactions. Unlike standard, monitored, and regulated exchanges, OTC transactions can occur without...

One of the issues in the Securities and Exchange Commission’s (SEC) ongoing lawsuit against Binance has been the custody of customer crypto and whether it’s been appropriately under the control of Binance US.  Binance US relies on wallet software marketed under the name Ceffu to other exchanges, which was developed by Binance Holdings Limited. The company’s agreement with Binance predates the product being marketed as Ceffu.  Binance’s lawyers contend that the SEC is on a “fishing expedition,” and that its custody practices don’t place Binance’s US assets at risk.   Binance US, as previously mentioned, relies on wallet software developed and marketed by Binance Holdings Limited. Binance Holdings Limited also established the Amazon Web Service accounts used for these wallets. The SEC has filed a redacted document described as “Binance.US Digital Asset & Custody Operations Policy” from May 15 of this year t...

The HKMA releases warnings against crypto firms that title themselves banks and their products as deposits. The regulators asserted that under the Banking Ordinance, the operations of unlicensed firms are offensive. Hong Kong’s SFC recently warned against JPEX, claiming that the crypto firm is unauthorized. The Hong Kong Monetary Authority (HKMA) recently released a warning against the crypto-related companies that identify themselves as “banks” and their products as “deposits”. The financial watchdog further suggested the public be cautious in their dealings with such institutions. HKMA took the public attention to the authority’s recent findings about some crypto firms labeling themselves as a “crypto bank”, “digital asset bank”, “crypto asset bank”, “digital bank” or “digital trading bank”.  Claiming that these platforms violate Hong Kong’s Banking Ordinance, the regulators stated, “These descriptions may mislead members of the public into believing that t...

Rashawn Russell admits wrongdoing after falsely promising investors ‘assured profits’ for their crypto investments.  Rashawn Russell, a former investment banking professional at Deutsche Bank, is preparing to enter a guilty plea on charges of cryptocurrency fraud, according to new court filings.  Russell had initially entered a not-guilty plea in April after federal prosecutors accused him of misleading investors with pledges of “assured profits.” However, after multiple delays to allow for plea discussions between Russell’s counsel and federal authorities, the case was handed over to a magistrate judge specifically for a “guilty plea hearing,” as stated in recent court records. Jurisdictional tug-of-war continues. @CFTC asserts in their case against Rashawn Russell for a fraud ulent “digital assets trading scheme” that BTC, ETH, and USDC are commodities pic.twitter.com/bOBFVaWQMt — Alexander Grieve (@AlexanderGrieve) April 12, 2023 T...