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Binance, the world's largest cryptocurrency exchange, is facing an uncertain future amidst legal troubles, employee exodus, and eroding market share. A Giant on Shaky Ground The once-unstoppable crypto giant is now in a "do-or-die" situation, according to an internal message from Binance CEO Changpeng Zhao. The
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The key barrier preventing widespread crypto adoption isn't user experience - it's product-market fit, argues Variant co-founder Li Jin. She claims crypto products haven't effectively addressed people's core needs beyond speculative investing. This article will summarize Jin's view, provide context
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The sudden collapse of cryptocurrency exchange FTX has sent shockwaves through the crypto industry and wider financial markets. Once valued at $32 billion, FTX filed for bankruptcy on Friday after a liquidity crunch prompted rival exchange Binance to back out of a deal to acquire the struggling firm. The unraveling
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The crypto industry took a major hit this week as a new study revealed that nearly all employees in the space still take their salaries in fiat currencies rather than cryptocurrencies. This raises questions about true adoption levels and the future of crypto as a mainstream financial tool. While many
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The two leading US-based cryptocurrency exchanges, Kraken and Coinbase, are rapidly expanding into Europe this week, obtaining key regulatory approvals from authorities in Ireland and Spain. This aggressive push comes as the regulatory environment for crypto firms in the US grows increasingly harsh under the Securities and Exchange Commission chair
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The video game industry was rocked this week by leaked documents revealing Microsoft is exploring integrating crypto wallet support into its popular Xbox gaming system. This bombshell news, uncovered in a deposition related to Microsoft's proposed Activision Blizzard acquisition, signals a potential seismic shift in how gamers could
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A leaked draft of an upcoming executive order on artificial intelligence from President Joe Biden has sparked fears of a potential computing power crackdown that could severely impact Bitcoin mining operations in the United States. The draft order, revealed by anonymous sources to Semafor, indicates the Biden administration may soon
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SEC Chairman Plans to Tell Congress Most Crypto Assets are Securities NEW YORK - Stuart Alderoty, general counsel at blockchain company Ripple, expressed concern over Securities and Exchange Commission (SEC) Chairman Gary Gensler's planned testimony to Congress about cryptocurrencies this week. Alderoty claims that advanced copies of Gensler&
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The decentralized Ethereum network has reached a major milestone, crossing $10 billion in cumulative revenue faster than juggernauts Facebook and Microsoft. This explosive growth demonstrates Ethereum's disruptive potential, though it now faces critical challenges amid the crypto winter. Ethereum took just 7.5 years to surpass $10 billion
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The crypto revolution continues marching on in Switzerland. In a monumental development that further cements Switzerland's status as the global crypto capital, Hypothekarbank Lenzburg has become the sixth Swiss bank to join Six Digital Exchange (SDX) - a major blockchain-based digital assets trading platform. This latest Swiss bank
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The crypto winter has plunged even deeper as BlockFi, one of the largest cryptocurrency lenders, received court approval this week for its plan to repay over 100,000 creditors. This long-awaited milestone brings customers closer to recovering funds, but how much will they actually receive? That depends on the outcome
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British actor and philanthropist Idris Elba recently announced an unconventional partnership with the Stellar Development Foundation, a non-profit organization supporting the Stellar blockchain network. This alliance aims to leverage decentralized financial systems to expand access to financial services across West Africa. While ambitious, experts question whether blockchain technology can truly
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The SEC has ramped up enforcement against crypto companies, accusing the industry of "wide-ranging noncompliance" with securities laws. SEC Chair Gary Gensler's testimony before Congress reveals an existential threat to crypto innovation. Today's developments raise urgent questions: Will the SEC's aggressive tactics
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MoneyGram, one of the world's largest money transfer companies, has announced plans to launch its own noncustodial cryptocurrency wallet by the first quarter of 2024 in a major move into decentralized finance. The new digital wallet, built on the Stellar blockchain network, will allow users to easily convert
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A massive alleged crypto scam in Hong Kong has led to arrests and exposed the risks of the city embracing retail crypto trading. With billions lost and restrictions considered, Hong Kong faces dilemmas balancing innovation and protecting consumers. This vital news reveals how Hong Kong's crypto approach faces
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The introduction of standardized staking rates on proof-of-stake blockchains like Ethereum promises to be a watershed moment for the crypto industry. This new innovation can unleash tremendous economic activity by providing the identical utility of traditional interest rates. But will the industry capitalize on this opportunity or squander its potential?