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Binance CEO Clears Air On Bitcoin Mining and Meme Coin Regarding the integration of Lightning Network on crypto exchanges, Binance CEO believes eventually every exchange will have to support Lightning Network. Especially, it is crucial and makes total sense for Binance Pay and other different wallet services. advertisement He turned down any plan of Binance to enter Bitcoin and crypto mining. Binance is not familiar with the mining business and there are several challenges including negotiating low electricity prices. Binance only operates a mining pool, which is different from a mining farm. A mining pool is a server that people the miners connect to and the mining pool operators. “T here’s many misconceptions about mining being energy intensive. I believe mining is very important, but it’s not something that’s in our core expertise.” He criticized the US and India’s increasing regulatory challenges and inconvenience for i...

The CEO of Nansen cited two reasons for the layoffs, including an overly aggressive hiring phase during the bull market and the prolonged crypto bear market that followed. Blockchain analytics platform Nansen has announced the trimming of its workforce by 30%. On May 30, the Nansen CEO Alex Svanevik disclosed on Twitter that the company had to make an “extremely difficult decision to reduce the size of the Nansen team.”  Full statement: pic.twitter.com/cxSTtZBiZU — Alex Svanevik (@ASvanevik) May 30, 2023 Svanevik gave two major reasons for the reduction in Nansen’s workforce . The first was the company's rapid scaling during its initial years of operation, which “led the organization to taking on surface area that's not truly part of Nansen's core strategy.” Svanevik also cited a brutal year for crypto markets as the second reason for the layoffs. Despite efforts to diversify revenue streams through enterprise and institutional customers, Nansen's cost base remain...

According to a recently released report by CCData, total Stablecoin market cap fell by 0.45% in the past month. This means it’s fallen for 14 consecutive months and currently sits at $130 billion — its lowest level since September 2021. At the same time, stablecoin market dominance has risen to 11.1% in the overall crypto market, possibly a bearish sign for crypto. The decline in Stablecoin market cap coincides with an exit of liquidity from Crypto exchanges. Metrics by numerous sources, including the Block, confirm that May was the lowest month in terms of Crypto trading volume on exchanges since the beginning of 2022. This decline in overall liquidity is paired with a heavy decline in stablecoin trading volume, which according to CCData fell in May by 40.6% to $460 billion . This represents the lowest monthly trading volume by stablecoins on centralized exchanges since December 2022. Tether’s market cap has grown in tandem with bitcoin’s rise in price t...

Richard Teng, who joined Binance as CEO of Singapore in August 2021, revealed his new position on LinkedIn. advertisement Binance continues to face regulatory scrutiny Binance has made this change when it has been under constant scrutiny for non-compliance issues from the U.S.regulators, while it has faced pressure in other countries as well. The crypto exchange withdrew from Canada earlier this month as the country set tight regulations for crypto trading platforms, while Australia canceled the exchange’s financial services license last month amid a regulatory probe. Prior to joining Binance , Teng worked in various financial institutions such as Singapore Exchange Ltd, Monetary Authority of Singapore and Abu Dhabi Global Market. CFTC lawsuit could haunt exchange for a long time Binance is currently facing severe accusations from the US Commodity Futures Trading Commission, including allowing and facilitating the illegal trading of crypto d...

The on-chain Analysis platform, Glassnode, recently shared on Twitter that the mean block size of Ethereum (ETH) has reached a new 1-month high, measuring 121,439.928. This surpassed the previous high of 121,327.386, which was observed on 27 May 2023.  ETH mean block size (Source: Glassnode) The block size refers to the amount of data or transactions included in a single block of the blockchain. This increase indicates a larger average data volume in recent blocks, potentially improving network capacity and transaction throughput. Meanwhile, at press time, CoinMarketCap indicated that ETH was trading hands at $1,847.37 after a 0.96% price increase over the past 24 hours. As a result, ETH was trading closer to its daily high of $1,859.79 than its 24-hour low of $1,817.49. However, the leading altcoin’s positive performance was not enough for it to strengthen against its biggest competitor Bitcoin (BTC). At press time, ETH was 0.93% down against BTC. On the other han...

Join Our Telegram channel to stay up to date on breaking news coverage Wall Street Memes ($WSM), a new crypto project that was only launched on May 25, raised $100k in its presale after only a few minutes of being live. With having over a thousand followers across all of its social media sites, the Wall Street Memes initiative has shown to have tremendous community support. Wall Street Memes received massive online support The term “Wall Street Memes” pertains to a collection of memes that have come into existence in relation to Wall Street, the financial market, and numerous events that have taken place in the world of finance. Humorous and unique pieces, such as sarcastic drawings, videos, and puns, spread the viral content throughout the internet. The rise of the Wall Street Memes as a cultural phenomenon has metaphorically represented the competition between small-scale institutional investors and individual investors. See our guide to the best meme coins...

May 26, 2023 at 10:13 // Price Author Coin Idol The Ripple (XRP) price, which has crossed the 21-day moving average line, is in an upward correction. Long-term forecast for the Ripple price: bullish The cryptocurrency asset is currently trapped between the moving average lines while trading in the bullish trend zone. On the upside, the $0.47 resistance area marked the end of the positive momentum. Since May 18, buyers have retested the resistance area four times but have been rejected each time. Further growth in the cryptocurrency is unlikely as the mark...

The Ultimate Guide to Bitcoin: Converting Satoshis to BTC and Vice Versa Bitcoin is the world’s leading cryptocurrency and has been around for over a decade. It was created by an anonymous person or group of people who go by the name Satoshi Nakamoto. So, how many Satoshis are in a Bitcoin? Since its inception in 2009, Bitcoin has become a household name, and its value has skyrocketed. Understanding the Bitcoin (BTC) ecosystem, including the smallest unit of Bitcoin called Satoshis, is essential for anyone who wants to participate in the BTC market. In this article, we’ll explore all you need to know about BTC and Satoshis, including how to convert Satoshis to Bitcoin and vice versa. Introduction to Bitcoin and Satoshi Who is Satoshi Nakamoto? Satoshi Nakamoto is the name used by an unknown person or group of people who created Bitcoin. The true identity of Satoshi Nakamoto is still a mystery, and many people have claimed to be the creator of Bitcoin without any concr...

CCTV Crypto Coverage The controversial video came into the spotlight when Changpeng Zhao, the CEO of Binance, retweeted it. CZ implied that media coverage of crypto currencies has historically triggered positive market trends. He said: advertisement “Coverages like these led to bull runs.” However, he was quick to clarify that past performance doesn’t guarantee future results. Given the current state of the crypto currency ecosystem, CZ believed that such bullish events could serve as a much-needed catalyst for market recovery. Adding to the intrigue is the revelation that the Solana Memecoin SAMO, featured in the removed video, was involved in pump and dump activities. This discovery raises concerns about the authenticity and intentions behind the segment, casting doubt on its credibility. Recommended Articles Crypto Presale Projects For 2023 To In...