Coinbase found itself in the midst of technical challenges as some users woke up to zero balances in their digital wallets. CEO Brian Armstrong acknowledged the issue, attributing it to a staggering 10x surge in traffic that exceeded their load testing capacity.
Vietnam’s March Towards a Robust Legal Framework for Virtual Assets by May 2025
Vietnam is set to strengthen its legal framework concerning virtual assets by May 2025. The Ministry of Finance, along with relevant departments, is actively researching and constructing a legal framework to regulate or prohibit virtual assets and organizations providing virtual asset services, with completion expected in May 2025.
Bitcoin Surges Past $57,000: A Closer Look at the Crypto Craze
In a startling turn of events, Bitcoin has reached a remarkable milestone by hitting a two-year high, and the excitement in the crypto community suggests that it might not be done yet. So, what’s driving this surge, and is Bitcoin on the brink of reaching another all-time high?
Bitcoin Spot ETF Approval and Its Impact on Crypto Market Transformation
Cryptocurrency enthusiasts are eagerly awaiting a potential breakthrough as the approval of a bitcoin spot ETF appears imminent, with the U.S. Securities and Exchange Commission (SEC) facing a deadline on January 10, 2024. This event could mark a significant turning point for the crypto industry, drawing millions of new investors and billions in investments.
Coinbase CEO: SEC Request Could Have Spelled the End of US Crypto Industry
In a recent revelation, Brian Armstrong, the CEO of Coinbase, the largest cryptocurrency exchange in America, disclosed that the company was asked by the Securities and Exchange Commission (SEC) to halt trading on all cryptocurrencies except for Bitcoin before facing a lawsuit in June. Armstrong claimed that complying with this request would have been catastrophic for the entire crypto industry in the United States.
Binance Embraces Lightning: Faster and Cheaper Bitcoin Transactions Now Available
Binance, one of the leading cryptocurrency exchanges in the world, has announced the completion of the integration of the Bitcoin Lightning Network onto its platform. This integration allows Binance users to utilize the layer-2 scaling solution for Bitcoin withdrawals and deposits, providing them with faster and cheaper transactions.
Binance Faces Regulatory Challenges: Quits Netherlands and Investigated in France Amidst Growing Global Scrutiny
Binance, the world’s largest cryptocurrency exchange, is facing multiple setbacks as it announces its exit from the Netherlands and comes under investigation by French prosecutors. These developments add to the mounting problems the company is already facing in the United States.
Bitcoin’s First Losing Month of the Year: Cryptocurrency Falls Ahead of Debt Ceiling Vote
In a turn of events for the crypto market, Bitcoin experienced a decline on Wednesday, marking its first down month of the year. The optimism that had fueled a rally surrounding the debt ceiling began to fizzle, causing the leading cryptocurrency to lose 2.77% and trade at $27,057.81, according to Coin Metrics. Ether, the second-largest cryptocurrency by market capitalization, also slipped 2.2% to $1,865.82.
Hotbit Ceases Operations as Centralized Exchanges Struggle to Adapt in a Changing Crypto Landscape
Hotbit, a Shanghai-based cryptocurrency exchange, has recently made a surprising announcement that it will be ceasing all operations starting May 22. The decision comes as the platform believes that centralized exchanges are “becoming increasingly cumbersome” and are unlikely to meet long-term trends in the crypto industry.
EU Parliament Approves Landmark Crypto Regulations: MiCA and Transfer of Funds Rules
The European Union (EU) Parliament has taken a significant step towards regulating cryptocurrencies by approving new crypto licensing and transfer of funds rules.
