Category: Cryptocurrency News

submitted by /u/TheOtherCoolCat [link] [comments]

When I go to L2 Beat and look for L2's I see a lot of risk around centralization. Arbitrum's riks. Funds can be stolen if a contract receives a malicious code upgrade. There is no delay on code upgrades (CRITICAL). These addresses are the participants of the 4/6 Arbitrum MultiSig. Optimism's Risks. the centralized validator…
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Following the FTX collapse, the largest cryptocurrency exchange by trade volume, Binance, has been surrounded by rumors and speculation in recent times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors have been investigating Binance, according to four people familiar with the matter. Moreover, while a number of crypto assets have risen […]

submitted by /u/frank__costello [link] [comments]

Dubai, December 13th – Zogi Labs, a pioneering crypto company & gaming studio famously known for the BEZOGE token and the up-and-coming crypto-based MMORPG, The Legends of Bezogia today announces its partnership with Cronos. Zogi Labs has won a spot amongst batch 6 of the Cronos ecosystem grant, alongside the signing of an MOU between […]

The crypto sector has been a subject of divided opinions since the inception of Bitcoin and its meteoric rise. While the assets have benefits like fast transactions and decentralization, some risks include fraud and criminal activities. Related Reading: Bitcoin Drops Below $17,000 Pre-CPI And FOMC – Scenarios To Prepare For This Week More recently, during the crypto winter of 2022, some catastrophic events led to negativity among crypto users. The collapse of FTX – one of the world’s largest exchanges, was a pivot point sending shockwaves throughout the crypto world. Since the event, individuals and bodies have called for crypto regulation. Some individuals now prefer to hold their tokens in personal wallets than leave them in the custody of an exchange. All crypto organizations are under scrutiny, with most governments determined to protect their citizens from fraud at all costs. Binance, the world’s largest crypto exchange by trading volume; is now facing a possible money laundering investigation. The case has been ongoing since 2018 and has gained popularity in light of recent happenings. Reuters has alleged that Binance was employing different tactics to keep information away from public knowledge. There have been divided opinions on how far the regulations can go. The prolonged case between Ripple Labs and the Security and Exchange Commission has led to fears for a possibly bleak future for crypto. Crypto Giant Binance Denies The Allegations Binance, in a series of tweets, denied any wrongdoing citing it as an attack on their law enforcement team. According to the statement posted on Twitter, Binance made it clear that they have top-notch cyber investigators on their books. Also, the company said that it always cooperates during investigations. Binance also went further to share its activities in combating ransomware and hacking cases with training organized in different locations. CEO of Binance Changpeng Zhao had tweeted earlier this year on this issue. According to Zhao, the article by Reuters on money laundering is a waste of time. Related Reading: Inconsistent Metrics Indicate Further Struggle For SUSHI – Colder Winter Ahead? He also labelled the story as fiction and stated that everyone makes mistakes, but the Reuters story was imbalanced. Binance Drums Up Praise For Followers Binance – the world’s largest crypto exchange, had taken to Twitter to celebrate having ten million followers on the Twitter app. The world’s largest exchange also launched a challenge to reward followers. According to the tweet, all they need to win is to collect three of Binance’s #Binance10M badges and win a share of 10 million Satoshi. Binance continues to call for calm in the face of Reuter’s allegations. Changpeng Zhao – Binance CEO, has dismissed the reports as FUD. Replying to a tweet that the latest allegations seem sponsored, the CEO stated that FUD, although annoying, encourages growth. Also, he believes such reports will unite Binance supporters as they come together to align.

Some members of the U.S. House of Representatives questioned whether Sam Bankman-Fried’s actions at FTX and Alameda may have been willful or due to gross incompetence.

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers…
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PancakeSwap (CAKE) has been trading against the broad market, especially when major market movers have rallied. The coin has lost 0.8% over the last 24 hours and still depicts no decisive price action on the chart. Despite the CPI data release, the coin has remained unaffected by that development. CAKE traders are still wary of the asset’s next price movement. The technical outlook for the coin has painted a bearish picture on the chart. Although that seems to be the case, there could be a scenario in which CAKE makes a comeback. After rangebound trading for weeks, the coin has finally broken below its lower band, indicating a chance of a price appreciation. This could prove beneficial for traders who are planning to log gains from the crypto. Risk-averse traders, however, should be careful about investing as the coin still continues to signify a further potential loss over the immediate trading sessions. The asset is still hovering around pockets of high liquidity, which could prove to be a negative point for traders. For CAKE to register further gains, the coin has to breach some vital trading levels. Related Reading: Dogecoin (DOGE) Climbs 2.58% In 24 Hours, Can It Reach $0.1 Before The Week Runs Out? PancakeSwap Price Analysis: One-Day Chart At press time, CAKE was exchanging hands for $3.80. The coin just fell below the lower band of the restricted price zone. CAKE was sandwiched between the $4.20 and $3.90 price bands, which represented increased selling. The coin’s immediate price ceiling was $4.08; a move above that could cause the coin to revisit $4.30. Breaching the $4.30 mark will clear the path for the altcoin to reach $4.90. Over the immediate trading sessions, however, the coin is expected to fall to $3.40 before it bounces back. The aforementioned level could act as an entry point for buyers. The amount of CAKE traded in the last session remained red, signifying bearish strength. CAKE Technical Analysis The coin has remained under the power of sellers for most of this month. The recent drop in price has pushed CAKE further into the selling zone. The Relative Strength Index was below 40, indicating a strong selling force. Further selling pressure could cause CAKE to fall below $3.40 and then to $4.30, resulting in a 26% rally. CAKE fell below the 20-Simple Moving Average line due to low buyer demand, indicating that sellers were driving the price momentum at press time. Corroborating that CAKE might start to register gains, the Parabolic SAR sided with the same observation. Parabolic SAR determines the price direction, and the dotted lines below the candlesticks reflect incoming bullishness for the coin. On the contrary, though, the Awesome Oscillator that exhibits price momentum turned red, marking a sell signal for the coin. The signal was, however, declining in strength. Related Reading: Shiba Inu Continues Decline, Sinks To 15th In Market Cap List

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