Author: Max Bauer

A Nigerian court has ordered the release of Binance executive Tigran Gambaryan after the government withdrew money laundering charges against him, allowing him to seek medical treatment abroad. US and Binance Officials Were Pushing for Gambaryan’s Release The Economic and Financial Crimes Commission (EFCC) dropped its case against Gambaryan, who had been detained at Kuje prison since February. The U.S. citizen, who serves as Binance’s head of financial crime compliance, had been charged alongside the cryptocurrency exchange for allegedly laundering over $35 million. “We have withdrawn the money laundering charges against Tigran Gambaryan to allow him to get medical treatment…

The Vietnamese government has unveiled an ambitious national strategy to establish itself as a leading blockchain technology hub in Asia by 2030, outlined in Decision No. 1236/QD-TTg signed by Prime Minister Ho Duc Phoc. The comprehensive strategy identifies blockchain as a key technological driver of the Fourth Industrial Revolution and aims to develop 20 regionally influential blockchain brands. The plan emphasizes building advanced digital infrastructure and enhancing data security across the nation. Key objectives include establishing at least three blockchain testing centers in major cities and positioning Vietnamese institutions among Asia’s top 10 blockchain research and training facilities. To achieve…

The UK’s Financial Conduct Authority (FCA) has staunchly defended its stringent approach to cryptocurrency regulation, amid growing industry criticism over what some see as excessive barriers to entry. Val Smith, director of payments and digital assets at the FCA’s authorized department, argued that maintaining high regulatory standards is essential for protecting consumers and preserving market integrity. “Innovation that is quickly built on unsafe, unregulated, and untrusted foundations may collapse,” Smith wrote in a recent article, emphasizing that relaxed standards would undermine market functionality and user protection. The regulator’s tough stance has led to notably low approval rates, with only four…

Securities and Exchange Commission (SEC) Chair Gary Gensler discussed the evolving challenges of regulating artificial intelligence in finance and the cryptocurrency market in a recent interview. He emphasized the transformative nature of AI, comparing its impact to that of the internet and the electrification of the early 20th century. Gensler highlighted the SEC’s focus on ensuring AI algorithms used by financial firms prioritize the public’s interests. He expressed concern about potential systemic risks arising from the increasing reliance on a few dominant AI models. Using the film “Her” as an analogy, he illustrated the potential consequences of widespread dependence on…

A significant spike in lending rates on the Bitfinex platform has caught the attention of market analysts, with some interpreting it as a strong bullish signal for Bitcoin. According to the crypto news outlet GreeksLive, multiple orders have been lent out at a high annual percentage rate (APR) of 30% today. This surge in lending rates suggests a heightened demand for borrowed funds, which could be indicative of increased market activity and optimism among traders. GreeksLive noted that the recent pullback in Bitcoin’s price has prompted large spot traders to accumulate more positions. This behavior, combined with the elevated lending…

Renowned billionaire hedge fund manager Paul Tudor Jones has issued a stark warning about the looming threat of inflation and the unsustainable trajectory of the U.S. national debt. In an interview with CNBC on Tuesday, Jones expressed his preference for assets like Bitcoin, gold, and commodities over bonds. “I think all roads lead to inflation,” Jones stated unequivocally. “I’m long gold, long bitcoin.” He further indicated his intention to short fixed income, particularly longer-duration bonds. Jones’s comments echo similar concerns raised by other prominent figures, including Federal Reserve Chair Jerome Powell, who has acknowledged the untenable nature of the U.S.…

Cryptocurrency-based predictions market Polymarket is intensifying efforts to verify that high rollers on its platform are located outside the US, following a noticeable increase in bets favoring Donald Trump for the upcoming presidential election. Due to regulatory restrictions, users in the US are not permitted to trade on the platform. A source familiar with Polymarket’s internal operations, who spoke anonymously, confirmed that the company is conducting thorough checks on users, particularly those placing substantial wagers, to ensure compliance with its policies. In recent weeks, scrutiny of Polymarket’s political markets has surged, largely due to a small number of accounts wagering…

As the US presidential election approaches, options traders are increasingly betting that Bitcoin will soar to a record high of $80,000 by the end of November, regardless of the election’s outcome. The implied volatility for Bitcoin options set to expire around November 5 is notably elevated, with a significant skew towards call options, which allow buyers to purchase the cryptocurrency at anticipated new highs. Bitcoin Traders Expect New ATH David Lawant, head of research at crypto prime broker FalconX, noted that market sentiment appears optimistic. “I believe the market consensus is that Bitcoin is likely to perform well regardless of…

Bryan Pellegrino, CEO of the cross-chain interoperability protocol LayerZero, has publicly revealed a critical vulnerability in the Across Protocol’s token contract. In a social media post, Pellegrino alerted the Across Protocol team to a mistakenly exposed function that allowed for the arbitrary destruction and withdrawal of tokens from any wallet. The vulnerability, stemming from an oversight in the implementation of Open Zeppelin’s ERC20 token standard, granted the Across Protocol the ability to reduce any account’s balance to zero at will. Furthermore, Pellegrino noted that both the Across Protocol and UMA Protocol contracts could mint an unlimited number of coins. Despite…

As the 2024 U.S. presidential election draws closer, Bitcoin continues to show strong upward momentum. On Monday morning during European trading hours, the cryptocurrency briefly soared to a high of $69,227, signaling a potential breakthrough for investors. Bitcoin’s Rise Driven by US Elections, Analysts Say Analysts attribute this bullish sentiment largely to the political landscape, with Bitcoin inching closer to the pivotal $70,000 threshold. Avinash Shekhar, Co-founder and CEO of Pi42, highlighted that Bitcoin’s current trading price of $68,700 is influenced by several factors, including Vice President Kamala Harris’s vocal support for cryptocurrency and former President Donald Trump’s favorable reelection…