Binance said that Signature Bank would only issue crypto transactions worth at least $100,000 starting from Feb. 1, 2023, as reported by Business Standard (BS). Binance said: “One of our fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of…
CryptoSlate analysis of Bitcoin (BTC) metrics reveals that the market bottom may have been reached as investors continue accumulating BTC and pushing illiquid supply up to 80%. Analysts reviewed metrics, including the MVRV-Z and Realized Price metrics, to discover both indicate bullish sentiments. MVRV-Z metric The MVRV-Z score is used to assess whether BTC is…
Bitcoin miners faced difficulties paying off debt in 2022, particularly when they had high-interest equipment financing loans, according to a recent report by Hashrate Index. The report stated. “We estimate that there is between $2-4 billion worth of ASIC financing debt on private and public miner balance sheets.” According to the analysis, 6 ASIC financing…
The bear market rally that perplexed much of the crypto industry continued into the weekend as Bitcoin hit $23,230 for the first time since August 2022. Bitcoin is now up 50% from its local low of $15,400. BTC-USD Bitcoin has moved into a leading position among global assets outperforming major asset classes across the board….
Artificial Intelligence (AI) crypto tokens are riding a wave of interest that began with the release of chatbot ChatGPT, which has captured the imaginations of people across the globe. The apparent capabilities of ChatGPT showcase the potential of AI to revolutionize multiple aspects of life. As such, some are touting AI crypto tokens as the…
Digital Currency Group, the parent company of both Genesis and Grayscale, released a statement on Jan. 20 commenting on the news that Genesis had filed for Chapter 11 bankruptcy. Following the statement’s release, Bitcoin climbed above $21,000 to a year-to-date high of $21,912. The fate of DCG has been assessed as a significant potential catalyst…
Crypto markets saw minimal volatility over the past 24 hours despite Digital Currency Group (DCG) subsidiary company Genesis Global Capital filing for Chapter 11 bankruptcy on Jan. 19. Insolvency rumors were circulating as early as November 2022, when Gemini exchange paused withdrawals from its Earn program due to Genesis, its lending partner, pausing withdrawals. The…
The MakerDAO community voted in favor of keeping Gemini USD stablecoin as part of the protocol’s DAI stablecoin reserves amid concerns about insolvency. The MakerDAO community earlier started voting on two governance polls in an attempt to limit DAI’s exposure to Gemini due to the liquidity crisis plaguing Gemini’s Earn program. The GUSD stablecoin can…
FTX CEO John Ray III is investigating the possibility of relaunching the now-defunct cryptocurrency exchange, The Wall Street Journal reported Jan. 19. The CEO told the Journal that he had created a task force to investigate relaunching FTX.com, the company’s primary international exchange. He said: “Everything is on the table. If there is a path…
KuCoin user count and transaction volume on spot and futures markets exceeded 27 million and $3.6 trillion respectively, according to KuCoin’s 2022 Annual Review report. Throughout 2022, the exchange welcomed over 13 million new users, which indicates a 102% year-over-year growth, according to the report. Of these new users, 7 million, corresponding to 53.8%, are…