Cryptocurrency News Today TheBitTimes.com

Join Our Telegram channel to stay up to date on breaking news coverage Solana’s Cardinal Protocol is shutting down operations due to economic conditions. The protocol announced on Twitter that users should withdraw their funds by August 26.  Hey Everyone, we have some unfortunate news to share 🙁 After a lot of reflection, we’ve decided to begin the process of winding down our protocols. Let's dive into it 🧵 ⬇️ — Cardinal (@cardinal_labs) June 28, 2023 Cardinal Labs was designed to support NFT use cases on the Solana network by providing protocols and software development kits (SDKs). They enable staking, rentals, subscriptions, royalties, and trading. As per the closing schedule, certain operations will cease on July 19. This includes creating staking pools, token management, NFT rentals and rental extensions, social media handle services, and new deposits.  Users must complete their withdrawals by August 26, whic...

Also Read: ADA, MATIC, ALGO Are Not “Securities”: XRP Lawyer XRP Whales Plotting Something Big? According to Ali Charts, a crypto analyst, Ripple Whales made a huge move as the XRP price moved lower over the past week. Whales accumulated around 360 million XRP (approx worth $170 million) in a span of just 7 days. It should be noted that XRP price dropped by 12% during this time period. XRP entered the year 2023 trading at an average price of $0.3399. Since then XRP price has jumped almost 40% to stand around $0.47. However, the token also breached the $0.50 price barrier in between to trade at $0.54. This price action depicts a positive sentiment emerging in support of XRP amid legal trouble forced by the US SEC. Read More XRP News Here… XRP is trading at an average price of $0.475, at the press time. Its 24 hour trading volume is down by over 14% to stand at $822 million. It is still holding a market cap of more than $25 billion. Source: CoinMarketCap Ripple Lawsui...

Join Our Telegram channel to stay up to date on breaking news coverage The Bank of Italy has urged for increased regulatory monitoring of stablecoins due to their lack of stability and potential harm to consumers. In a recent report, the central bank called for applying financial standards to stablecoin issuers to ensure consumer protection. The bank emphasized the need for a robust regulatory framework to prevent worst-case scenarios, such as a “run” on stablecoins. It also highlighted the close connection between stablecoins and decentralized finance (DeFi) and stressed the importance of regulating stablecoins to reduce the fragility of the DeFi ecosystem. #Bankitalia 📌 #26June Alessandra #Perrazzelli discussed about the evolving regulatory landscape for #DigitalAssets at @pointzeroforum Panel “State of Global Digital Asset Regulation: Navigating Opportunities in an Evolving Landscape”#PZF2023 #PointZeroForum @sif_sfi @elevandi pic.twitter.co...

Join Our Telegram channel to stay up to date on breaking news coverage The advent of cryptocurrencies into the global financial arena has no doubt changed the way people look at money as a means of value exchange. The dynamic growth in the crypto and blockchain industry has led to the emergence of global giants like Ripple. Ripple is the creator of XRP, the number 3 crypto in the charts right now. Initially, Ripple created 100 billion XRP crypto coins and put more than half of them in escrow. Currently, about 44 billion of them are already in circulation. It should be noted that XRP differs from others like Bitcoins that are automatically generated and awarded to appropriate problem-solvers that facilitate the smooth running of the network. What Ripple Says Despite having created the crypto, Ripple fronts itself as an entity separate from the XRP network, claiming that the company has no centralized control of the cryptocurrency. In fact, according to Ripple, the cryptocurrenc...

Financial services company Robinhood has cut 7% of its staff as the company attempts to “adjust to volumes,” as noted in an internal memo. Moreover, the decision has equated to around 150 employees being laid off by the company, according to a report from the Wall Street Journal.  The brokerage is enacting its third round of layoffs in just over a year as it continues to cope with slower activity. Nevertheless, the internal memo by Chief Financial Officer Jason Warnack notified the affected individuals. Altogether, the company has cut more than 1,000 jobs since the end of 2022. Source: Bitcoin.com Robinhood Continues Job Cuts, Lays Off 7% of Staff The past two years have seen a host of tech companies opt to cut their workforce. Moreover, the story had been a notable one, with massive entities like Meta and Amazon seeing mass layoffs. Now, a company has just enacted what will be its third round of job cuts today. Indeed, Robinhood has cut more than 7% of its staff in a third round of la...

Jun 28, 2023 at 06:54 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, the price of TRON (TRX) has been in an uptrend since June 20. TRON price long term forecast: bullish The price of the cryptocurrency broke above the moving average lines, but may face resistance near the high of $0.076 or $0.078. The market was overbought at the recent highs. Over the past month, buyers have been unable to push the price above these levels. TRON will reach a high of $0.085 if the bulls break the resistance at $0.078. Today, the altcoin is...

Solana: The Ethereum Killer with Unique Advantages Solana is a blockchain similar to Ethereum, often called an “Ethereum killer.” You can buy the SOL token on major exchanges, and it has value for making transactions on the Solana network, which has its own advantages. Solana’s blockchain decides the next block by proof of history. This is done using timestamps. Bitcoin and Litecoin used a different method called proof-of-work in the past. Miners decided on the next block, but it was slow and energy-intensive. With proof-of-stake, Ethereum uses 99.9% less energy. The next block is decided by validators reaching an agreement based on the staked tokens. Compared to proof-of-work, it’s more energy-efficient. Solana’s Remarkable Fusion: Proof of History and Delegated Proof of Stake In contrast to Ethereum and Cardano (ADA), Solana uses a unique combination of proof of history and delegated proof of stake. Solana’s unique approach lets it process tra...

By now, it’s common knowledge that Sam Bankman-Fried (SBF) was secretly routing FTX customer funds to his trading firm, Alameda Research, and used it to trade against those same customers on FTX. Oh, the irony. Unfortunately, FTX isn’t the only crypto exchange that trades against its own customers — and the practice has a long history. In the 1990s and 2000s, binary options exchanges and forex exchanges regularly operated ‘B Book‘ exchanges — where forex brokers take the opposite of a customer’s bet and accept the market risk. As opposed to ‘A book’ forex brokers who actually fill customer orders on an independent exchange, B book brokers simply notate customer orders and settle trades internally. Digital asset exchanges likely trade against their customers more often than they want to admit. Its prevalence is likely as pervasive as B book binary options and forex exchanges. In fact, the name of major crypto exchange Binance, currently embroiled in a mountain...

Huobi Global Ltd. has announced plans to discontinue ten trading pairs, predominantly those associated with the USDD stablecoin, as part of their ongoing efforts to optimize user trading experiences. Renowned digital currency exchange Huobi Global Ltd. stated that it will discontinue ten specific trading pairs , primarily those connected to the USDD stablecoin . This stablecoin , issued by the TRON DAO Reserve, has significant backing from well-known digital asset entrepreneur Justin Sun. Huobi intends to delist trading pairs involving the ADA token of Cardano, SOL of Solana, APE of ApeCoin, MATIC of Polygon, FIL of Filecoin, and ETC of Ethereum Classic in combination with USDD, starting from June 29th. Additionally, ARPA, GAS, QTUM, and ZKS pairs with bitcoin will also be excluded from the platform. The exchange rationalized these actions as part of its initiative to deliver a superior trading experience to users. .#JustinSun just removed some of his stablecoin liquidity on the ...

Brian Armstrong shared his concerns over the declining economic freedom in the United States. Coinbase CEO reiterated that the company’s key agenda is to increase economic freedom. According to a recent analysis, the US is ranked 25 th in economic freedom, while Singapore is ranked first. Brian Armstrong, the CEO of the leading crypto trading platform Coinbase, recently shared his concerns about the US’ declining economic freedom while reiterating that the exchange’s mission is “increasing economic freedom.” On June 26, Coinbase CEO took to Twitter to share a recent report on the nation’s falling economic freedom while showcasing how much cryptocurrency weighs in increasing it. Economic freedom remains an important measure of every country's potential for growth and prosperity. And increasing economic freedom is Coinbase's mission. The U.S. unfortunately has fallen in economic freedom rankings over the years https://t.co/G8wjLfwtoM HT @FEhrsam ...

Ethereum developer Virgil Griffith, who is currently serving five years in prison , received a 10-year-long export privilege bar, according to the Department of Commerce. Griffith, even after he is released from prison , “may not directly or indirectly participate in any way in any transaction involving any commodity, software or technology…exported or to be exported from the United States that is subject to the Regulations.” Essentially, Griffith faces a bar on his export privileges as a US citizen. “Based upon my review of the record, including Griffith’s submission, and consultations with BIS’s Office of Exporter Services, including its Director, and the facts available to BIS, I have decided to deny Griffith’s export privileges under the Regulations for a period of ten years from the date of Griffith’s conviction,” John Sonderman, the director of the Office of Export Enforcement, said.  The order is in effect until April 12, 2032. Last year, Griffith was sentenced to 63 month...

Welcome to the 124th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 1 hour ago ️ pic.twitter.com/Wxej3ctSUu — Protos (@Protos) June 23, 2023 What a chart. 60 mins ago Twitter Spaces host Mario Nawfal’s dubious crypto dealings https://t.co/zNfOHjJzEI — Protos (@Protos) June 16, 2023 Seems like a good time to bump this piece. 59 mins ago Mario Nawfal, the guy behind the big Twitter space today, has a history of scamming people for millions of dollars Source: I used to be his CMO Ask me anything, and I'll give you the truth + evidence Sharing everything before he 100% makes more victims My receipts: pic.twitter.com/6cO9F9S5...