Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Kaspa price is soaring after more exchange listings

  • Kaspa has been one of the top-performing cryptocurrencies in March.

  • The coin jumped sharply after more exchanges listed the coin.

Kaspa price has done well in March, making it one of the top-performing cryptocurrencies in the industry. It jumped to a high of $0.023, which was about 2,400% above the lowest level in November last year. Its total market cap has jumped to over $397 million.

What is Kaspa?

Kaspa is an upcoming cryptocurrency that aims to become the best alternative to Bitcoin. It is a proof-of-work coin that seeks to become the fastest crypto in the industry. The coin has a block second of about 1 second and a maximum supply of over 28 billion coins.

It is unclear why Kaspa price jumped sharply in March. A likely reason is that the number of cryptocurrency exchanges started listing the coin. For example, on March, Gate.io listed the coin and enabled the KAS/USDT pair.

Kaspa’s coin was also embraced by other exchanges like DigiFinex and XT.com. On Tuesday, the coin was listed in HotBit, which will expose it to more customers. Data compiled by CoinMarketCap shows that most KAS/USDT pair was traded in MEXC, which has a 54% market share. Other popular providers of the coin are Txbit, Gate.io, and CoinEx, among others.

Kaspa’s rally is also because of the broader strength of the crypto market. Bitcoin jumped to over $28,500 in March while the total market cap of all digital coins jumped to over $1.2 trillion.

Kaspa price prediction

The 4H chart shows that the KAS/USDT price has been in a strong bullish trend in the past few days. It has managed to move above the key resistance at $0015, the highest level on March 2. The coin has jumped above all moving averages while the Relative Strength Index (RSI) has moved above the overbought level. 

Further, the Stochastic Oscillator has moved above the overbought level. Therefore, there is a possibility that the coin will pull back in the coming days as buyers start to take profits. If this happens, the next key support level to watch will be $0.15, which is about 33% below the current level.

How to buy Kaspa

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BNB/USD price forecast amid CFTC suing Binance for crypto trading violations

  • CFTC sues Binance for trading violations 
  • BNBUSD bearish bias persists
  • $200 is a major support area

The cryptocurrency market is hit with another scandal as news that CFTC (Commodity Futures Trading Commission) is suing Binance for trading violations. As it turns out, Binance is accused of having over 300 trading accounts under the control of CZ, and these accounts trade crypto.

The problem is that it is easy to manipulate market prices through a tactic known as wash trading. Binance’s image is affected, and it might impact its coin, too, BNB.

BNB is the cryptocurrency coin that powers the BNB Chain ecosystem. It traded as high as $700 during the 2021 bull market but has given up more than half of its gains since then.

So what do the charts tell us about the next possible direction for the BNB/USD?

BNBUSD chart by TradingView

$200 is a major support area for BNB

After surging during the bull run of 2021, BNB/USD made a double top pattern around the $700 area. From that moment on, the bearish bias persisted, as the market was unable to break the series of lower highs.

Even the 2023 rally in the cryptocurrency market was not strong enough for the market to break above the previous lower high. As such, the bearish bias persists, and all eyes are now on the $200 area where the market found strong support previously.

Only a daily close above $400 would invalidate the bearish bias. Until then, the path of least resistance remains the downside.  

The post BNB/USD price forecast amid CFTC suing Binance for crypto trading violations appeared first on CoinJournal.

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Bankrupt BlockFi to refund over $100K to California clients

  • BlockFi filed for Chapter 11 bankruptcy on November 28.
  • Some Califonia users continued to repay their loans between November 11 and November 22
  • Users were not notified until November 22 that they could stop repaying their Loans “until further notice.”

California’s financial watchdog, the Department of Financial Protection and Innovation (DFPI), had previously suspended BlockFi’s lending license for 30 days from November 11, 2022, before later revoking BlockFi’s CFC license on December 15, 2022.

BlockFi halted client withdrawals on November 2022 and requested clients to deposit funds to BlockFi wallets or Interest Accounts for lack of clarity around the FTX collapse. The crypto lender later voluntarily filed for Chapter 11 Bankruptcy on November 28, 2022, alongside its eight other subsidiaries.

The DFPI claimed that BlockFi failed to “provide timely notification to borrowers that they could stop repaying their BlockFi loans.” The watchdog claims that the crypto lender did not notify borrowers until November 2022 that they could stop repaying their BlockFi loans “until further notice.”

About 111 California BlockFi users to get refunded

According to a statement issued by DFPI on March 27, investigations showed that at least 111 BlockFi borrowers from California continued paying their loans between November 11 and November 22, 2022. These borrowers paid back about $103,471 in loan repayments between the said periods.

BlockFi requested permission from the bankruptcy court to return the payments to the borrowers in a motion filed on February 24, 2023. The crypto lender has agreed to refund more than $100,000 to the California customers that continued repaying their crypto loans even after trading halted operations on November 10, 2022.

The hearing for the request to refund the customers is scheduled for April 19, 2023. The refunds will go ahead if the motion is approved by the bankruptcy court.

In the meantime, BlockFi has agreed to an “interim suspension” of its California Financing Law (CFL) license while “the bankruptcy and revocation actions are pending.”

The post Bankrupt BlockFi to refund over $100K to California clients appeared first on CoinJournal.

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Binance’s CZ refutes CFTC’s claims of improper compliance procedures and trading

  • Commodity Futures Trading Commission (CFTC) made a surprise lawsuit against Binance.
  • The lawsuit has labelled Bitcoin, Ether, Binance USD, Tether and Litecoin as commodities.
  • CFTC also made allegations of market manipulation and a lack of compliance efforts.

Binance CEO Changpeng ‘CZ’ Zhao has rejected the allegations made by Commodity Futures Trading Commission (CFTC) against Binance and himself in the March 27 lawsuit.

On March 27, the US CFTC issued a 74-page complaint labelling Bitcoin (BTC), Ethereum (ETH), Binance USD (BUSD), Litecoin (LTC), and Tether (USDT) as commodities and also accused Binance and Changpeng Zhao of market manipulation and lack of compliance.

CFTC has also accused Binance of not cooperating with the investigative subpoenas while also obscuring the location of its executive offices.

CZ calls CFTC’s claims incomplete recitation of facts

Binance’s CEO published a blog post arguing that the cryptocurrency exchange:

“Binance.com does not trade for profit or “manipulate” the market under any circumstances. Binance “trades” in a number of situations. Our revenues are in crypto. We do need to convert them from time-to-time to cover expenses in fiat or other crypto currencies. We have affiliates that provide liquidity for less liquid pairs. These affiliates are monitored specifically not to have large profits.”

In the lawsuit, the CFTC has accused Binance of trading on its own platform using 300 “house accounts” without properly disclosing the information to its customers in its Terms of Use. The CFTC says that the exchange has instead kept the information as a “top secret” and even refused to respond to the commission-issued investigative subpoenas looking for information about the said trading activity.

CZ also went ahead to disclose that he has two accounts with Binance: one for the card and one for crypto holding. He says in the blog post:

“Personally, I have two accounts at Binance: one for Binance Card, one for my crypto holdings. I eat our own dog food and store my crypto on Binance.com. I also need to convert crypto from time-to-time to pay for my personal expenses or for the Card.”

The post Binance’s CZ refutes CFTC’s claims of improper compliance procedures and trading appeared first on CoinJournal.

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Disney disbands its metaverse team amid large layoff

  • Disney had picked Polygon for the metaverse project.
  • Disney was targeting NFTs for its next-generation storytelling and consumer experiences.
  • The company is currently in the process of streamlining its business.

Disney started developing a metaverse strategy in mid-2022 and announced that they would tap the Polygon blockchain for the project. Earlier in October 2021, Citi released a report saying that Disney, Electronic Arts, and WWE were set to become some of the biggest beneficiaries of non-fungible tokens (NFTs).

The company further appeared to ramp up resource deployment by posting a job post for an expert in-house counsel for DeFi and NFTs in September 2022. The person Disney was looking to hire was required to be an experienced corporate attorney who would “work on transactions involving emerging technologies, including NFTs, blockchain, metaverse, and decentralized finance.”

However, according to the Wall Street Journal, Disney’s metaverse plans appeared to be still unclear a year later.

Streamlining business

Disney is currently in the process of laying off about 7,000 employees as it tries to control costs and develop what the CEO Bob Iger calls a “streamlined business.” The layoff will affect the 50 metaverse project employees.

Disbanding the next-generation storytelling and consumer experiences shows Disney is questioning the continued value of Web3.

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