Author: Max Bauer
The popular Telegram-based trading bot, Banana Gun, is currently facing a security breach. Multiple reports from the community indicate that user wallets connected to the bot have been compromised, resulting in the draining of funds. The Banana Gun team has acknowledged the issue in a pinned message on their official Telegram channel, stating, “We are investigating the issue, bot is currently offline.” Community member yannickcrypto.eth has shared that at least 36 users have been affected, with a total of approximately 563 ETH ($1.4 million) stolen. Banana Gun is a leading platform for on-chain transactions and token sniping on Telegram. It…
A new survey conducted by Deutsche Bank has revealed that despite the growing interest in central bank digital currencies (CBDCs), consumers remain reluctant to adopt them. The bank surveyed 4,850 individuals in Europe, the UK, and the US to gauge their attitudes towards CBDCs. The results indicate that cash continues to be a preferred payment method, with a majority of respondents expressing a preference for debit or credit cards over CBDCs. “While 59% of consumers believe that cash will always be relevant, the COVID-19 pandemic accelerated the shift toward digital payments, particularly among Gen Z,” analysts Marion Laboure and Sai…
The Bank for International Settlements (BIS) has secured major commitments from leading financial institutions to a blockchain-based project aimed at revolutionizing cross-border payments. JPMorgan Chase, Deutsche Bank, UBS, Visa, and Mastercard are among the 41 private-sector firms that have joined the project, named Agora. Seven central banks, including those from the US, eurozone, Japan, and England, are also participating. The goal of Agora is to create a global platform where tokenized assets can be traded using digital currencies issued by participating central banks. This would enable investors to conduct cross-border transactions with virtually no risk, using a unified ledger. “Given…
Binance co-founder He Yi has published a lengthy article addressing the controversy surrounding the exchange’s recent listing of numerous memecoins. In the article, He Yi provides insights into Binance’s listing process, which involves four stages: business development, research team evaluation, committee review, and compliance audit. He Yi acknowledged the heated discussions within the community regarding Binance’s listing decisions, including criticism of listing VC-backed coins, memecoins, and TG game projects. She emphasized that Binance values the opinions of its users and has been carefully considering the feedback received. He Yi outlined the preferences of past listing committees, which included:
The Securities and Exchange Commission (SEC) has filed charges against Rari Capital, a decentralized finance (DeFi) protocol, and its co-founders for allegedly misleading investors and engaging in unregistered broker activity. Rari Capital Infrastructure LLC, a successor to Rari Capital, has also been charged with similar violations. According to the SEC’s complaint, Rari Capital offered two investment products, Earn pools and Fuse pools, which functioned as crypto asset investment funds. Investors could deposit crypto assets into these pools and earn returns. The SEC alleges that Rari Capital conducted unregistered offerings of securities tied to these pools. The SEC also claims that…
The government of El Salvador, under President Nayib Bukele, has continued its daily Bitcoin purchases, accumulating a total of $359.58 million in BTC. This consistent acquisition aligns with the country’s ambitious goal of receiving 1 Bitcoin per day. Since late 2022, El Salvador has been diligently purchasing Bitcoin and has been transparently recording these transactions on-chain since March of this year. In a recent interview with Time magazine, President Bukele reflected on El Salvador’s pioneering decision to adopt Bitcoin as legal tender in 2021. While acknowledging the innovative nature of the move, he admitted that widespread adoption has not materialized…
The Federal Reserve announced 50 basis point rate cut, marking a significant shift in monetary policy after a year of aggressive interest rate hikes. The cut will bring the federal funds rate down from the current range of 5.25% to 5.5%, the highest level since January 2001. While there was some disagreement among economists regarding the size of the cut, consensus leaned towards either a 25 or 50 basis-point reduction. The Fed’s decision to pivot towards a more accommodative monetary policy is largely driven by the continued moderation of inflation, which prompted the initial series of rate hikes. While the…
Former New York Federal Reserve President William Dudley has argued in a recent article that the Fed should aggressively cut interest rates by 50 basis points. Dudley believes that the Fed’s dual mandate of price stability and maximum employment is now more balanced, necessitating a neutral monetary policy. However, Dudley notes that short-term interest rates remain well above neutral levels. He argues that this discrepancy needs to be corrected promptly, and a 50 basis point rate cut would align with the Fed’s dot plot expectations. The market is currently anticipating a total rate cut of at least 100 basis points…
While some cryptocurrency insiders believe former President Donald Trump is more crypto-friendly than Vice President Kamala Harris, the potential impact of the upcoming U.S. presidential election on the global crypto market is expected to be minimal. Charles Hoskinson, co-founder of the Ethereum blockchain, expressed optimism about a Trump presidency for cryptocurrency adoption. However, he emphasized that regulatory frameworks are being developed worldwide, regardless of U.S. policies. Anthony Scaramucci, founder of SkyBridge Capital, predicted that Harris would maintain a similar approach to crypto regulation as Trump. He praised Harris’s economic policies and expressed confidence in her leadership. Jeremy Allaire, CEO of…
Binance Labs, the venture capital arm of the world’s largest cryptocurrency exchange, has announced an investment in Hemi Labs, the developer of the Hemi Network. Hemi is a modular blockchain network designed to enhance scaling, security, and interoperability between Bitcoin and Ethereum. By combining the strengths of these two leading protocols, Hemi aims to address an underserved segment of Web3 and create new opportunities for developers and investors. The investment from Binance Labs will accelerate Hemi’s growth in several key areas, including decentralized application development, improved Bitcoin interoperability, and secure asset transfers between Bitcoin and Ethereum. Hemi Labs plans to…