Crypto News

✅Binance.US and SEC Working on a Deal to Avoid Total Asset Freeze – Here's What You Need to Know 🔴Binance.US and the US Securities and Exchange Commission are trying to reach a solution in order to avoid a total asset freeze. 🔴According to a report from Bloomberg, US District Judge Amy Berman Jackson announced Tuesday that the two sides “aren’t that far apart” on ways to protect billions of dollars in customer funds without shutting the exchange down while the SEC’s lawsuit proceeds. 🔴Currently, the two parties are working on a compromise agreement, with the judge referring them to a magistrate judge to find a mutually agreed upon solution. 🔴“Shutting it down completely would create significant consequences not only for the company but for the digital asset markets in general," the judge reportedly said. 🔴Last week, the SEC requested an asset freeze for Binance.US, the US arm of cryptocurrency exchange Binance, as part of its lawsuit against the company and its founder Changpeng Zhao. 🔴In the complaint, the SEC accused Binance and Zhao of mishandling customer funds, misleading investors and regulators, and breaking securities rules. 🔴The commission also claimed Binance improperly moved billions of dollars of customer funds to a bank account for an entity controlled by Zhao. 🔴Those funds were transferred to a third party and then appeared to be used to purchase and sell crypto, the regulator said.

✅Terra Luna Classic Price Prediction as LUNC Becomes Best Performing Coin of the Week – Can LUNC Hit $1 in 2023? The price of Terra Luna Classic (LUNC) has risen by 3% in the past 24 hours, reaching $0.00009765 as the cryptocurrency market as a whole barely moves within the same timeframe. LUNC is now up by 14% in the past week and by 7% in the last 30 days, although the altcoin has declined by 32% since the start of the year, in contrast to most other major tokens (which have risen). But with the Terra Luna Classic community recently proposing or even passing a number of plans to boost LUNC, the cryptocurrency could soon make up for lost ground. ✅Terra Luna Classic Price Prediction as LUNC Becomes Best Performing Coin of the Week – Can LUNC Hit $1 in 2023? In other words, LUNC still has good momentum, as also signalled by its 30-day moving average (yellow), which continues to ascend further above its 200-day average (blue). Such rising suggests that more buying demand is entering LUNC's market, while the positive picture is also helped by the coin's rising support level (green), which reveals it consolidating around ever-higher bottoms. Given that the wider market remains in a precarious state at the moment (because of the SEC's recent enforcement actions), there remains a possibility that LUNC could end up dipping again in the coming days and/or weeks. However, when looking at the coin in itself, it's likely due some more rallies, given how oversold it has been in the past few months. LUNC's prospects have also been helped in the past couple of weeks by recent Terra Luna Classic proposals, including one that was passed and that will result in the creation of a test environment for re-pegging USTC.

Terra Luna Classic Price Prediction as LUNC Becomes Best Performing Coin of the Week – Can LUNC Hit $1 in 2023? The price of Terra Luna Classic (LUNC) has risen by 3% in the past 24 hours, reaching $0.00009765 as the cryptocurrency market as a whole barely moves within the same timeframe. LUNC is now up by 14% in the past week and by 7% in the last 30 days, although the altcoin has declined by 32% since the start of the year, in contrast to most other major tokens (which have risen). But with the Terra Luna Classic community recently proposing or even passing a number of plans to boost LUNC, the cryptocurrency could soon make up for lost ground. Terra Luna Classic Price Prediction as LUNC Becomes Best Performing Coin of the Week – Can LUNC Hit $1 in 2023?

Terra Classic Price Up 6% - Crypto Whales Buying LUNC For v2.1.0 Parity Upgrade? The LUNC price has spiked over 6% on news of the v2.1.0 upgrade proposal being up for discussion, tweeted out by the @LUNCBurnArmy account. The Terra Classic 24 hour trading volume is up approximately 300%, however the LUNC price has a long way to go to recover its September 2022 high of $0.00059. LUNC Price Prediction Today priced at $0.00009, the Terra Classic price is down 86% from its top. A move back to its 2022 highs would require a 655% increase. With its fully diluted market cap still over $600 million, and the LUNC supply not having been burnt in any significant way - still around 5.85 trillion, not much less than following the Terra LUNA crash which inflated the former Terra coin's circulating supply - that might be hard to achieve.

✅While everyone is distracted by Biden's downfall: 🔴The BRICS group is about to create a gold-backed currency. 🔴It sounds potentially monumental. They could potentially destroy the fiat dollar, which could forever ruin the ability of the United States to hit countries with sanctions. 🔴Saudi Arabia, Argentina, Indonesia and Egypt are considering joining the alliance. 💎 @crypto_news5

✅Bitcoin Price Prediction as Non Farm Payroll Data is Announced – Bull Market Starting Soon? 🔴The recent release of the Non-Farm Payroll data has caused a notable impact on the price of Bitcoin. 🔴With the data revealing positive job growth in the United States, market sentiment has favored a bullish outlook for the US dollar. 🔴Therefore, Bitcoin experienced a downward movement in response to the positive report. 🔴Traders and investors are closely analyzing this reaction and assessing its implications for the future trajectory of Bitcoin. 🔴The market's response to the Non-Farm Payroll data highlights the complexity and unpredictability of the cryptocurrency market, reminding us of the need for careful analysis and monitoring of economic indicators when predicting Bitcoin's price movements. ✅Strong Nonfarm Payroll Data Boosts US Dollar and Treasury Yields 🔴The US Bureau of Labor Statistics (BLS) released the Nonfarm Payroll data for May, reporting a significant increase of 339,000 jobs. 🔴This figure exceeded market expectations, which had anticipated around 190,000 jobs. 🔴Additionally, April's reading was revised higher from 253,000 to 294,000. 🔴Simultaneously, the Unemployment Rate rose to 3.7% from the previous 3.4%, while the Labor Force Participation rate remained steady at 62.6%. 🔴Average Hourly Earnings, a measure of wage inflation, experienced a slight decline from 4.4% to 4.3%. 🔴The BLS highlighted that the number of individuals employed part-time for economic reasons remained relatively unchanged at 3.7 million. 🔴These individuals, who desired full-time employment but could not secure it, either had their hours reduced or could not find full-time jobs. 🔴Market reaction to the positive data was swift. 🔴The US Dollar Index reversed its earlier losses and turned positive, surpassing the 103.50 level. Furthermore, the benchmark 10-year US Treasury bond yield experienced an upward shift, rebounding to 3.65%.

✅Bitcoin is up today 😎 🔴I hope next week will be as positive as the last two days. 🔴I expect some altcoins to see an increase in the short term. 🔴One of the reasons is the temporary cancellation of the US default, even if it's only preliminary... 🔴In this news environment, markets could locally show a positive trend (already). However, please note that this is not financial advice.

✅US Treasury Sanctions Binance Wallets 🔴According to OFAC, wallets hosted on Binance received more than $2 million worth of cryptocurrencies, which were then sent to North Korean organizations. 🔴According to a statement from the Office of Foreign Assets Control (OFAC) of the US Treasury, sanctions have been imposed on a number of cryptocurrency wallets linked to the North Korean government. ✅Who exactly were the wallets on Binance associated with, against which the US Department of the Treasury imposed sanctions 🔴The wallets included Bitcoin, Ethereum, USDT Tether and USDC Circle, and belonged to one Sang Man Kim, a 58-year-old North Korean citizen. All of them were placed on the Binance crypto exchange. 🔴It is not known whether Binance controlled the wallets or not. Perhaps they were automatically generated wallet addresses posted on the exchange. ✅Binance under fire for facilitating attackers' efforts to circumvent sanctions 💎 @cryptagrafiki

💸4 events that shook the crypto world ✅February 2014: Mt.Gox hack 🔴Mt.Gox, once the largest cryptocurrency exchange in the early days of Bitcoin, has shut down. Launched in 2007 by American programmer Jed McCaleb as Magic: The Gathering Online Exchange, Mt.Gox originally served as a card exchange for the popular fantasy game. However, in 2010 it turned into a Bitcoin exchange, quickly becoming an important player in the market. ✅June 2021: Bitcoin in El Salvador On June 9, 2021, El Salvador made a historic decision when President Naib Bukele announced the adoption of Bitcoin as legal tender. This groundbreaking decision marked the first time that Bitcoin was recognized as an official currency. ✅May 2022: Terra collapse 🔴Stablecoins have often been considered the safer choice in the digital asset space due to their relatively stable prices. However, this view has been shattered in the Terra ecosystem. 🔴Terra is a blockchain protocol that uses algorithmic stablecoins to create a payment network. At its peak, Terra provided investors with completely stable prices due to the relationship between its native LUNA token and the popular dollar-pegged stablecoin in its ecosystem. ✅November 2022: FTX collapse 🔴November 2022 was marked by the collapse of Sam Bankman-Fried and his FTX crypto exchange. As FTX has grown, the 31-year-old entrepreneur has become synonymous with the company, gaining notoriety in the cryptocurrency world.

✅Cryptocurrency fraud losses rise in England 🔴According to the data of the English anti-fraud agency, losses from illegal actions with crypto-currency in the country have increased by more than 40% over the past year. Cryptocurrency fraud losses are on the rise in England. 🔴According to Action Fraud estimates, losses have already exceeded £300 million ($370 million). According to the law firm RPC, this is a significant increase compared to 2022, when $250 million in losses were recorded. ✅Financial structures warn the UK government about the risks associated with cryptocurrencies 🔴Financial structures warn the government about the risks associated with cryptocurrencies. They believe regulation can create a false sense of trust among consumers.