Author: Umar Hashmi

The White House said the bipartisan-passed bill would “jeopardize the well-being of consumers and investors.” Capping off a dizzying week in both crypto and political spheres, U.S. President Joe Biden on Friday notified Congress that he has vetoed a bipartisan-passed resolution that sought to roll back a Security and Exchange Commission that critics said discouraged banks from offering crypto custody services. “This reversal of the considered judgment of SEC staff in this way risks undercutting the SEC’s broader authorities regarding accounting practices.” reads the notice from the White House. “My Administration will not support measures that jeopardize the well-being of consumers and…

The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated techniques, making fund recovery difficult. For example, “Fraudsters may conduct pump-and-dump schemes with crypto assets, including so-called ‘memecoins’ that refer to popular culture or internet memes,” the regulator said. SEC’s Crypto Scam Warning The U.S. Securities and Exchange Commission (SEC)’s Office of Investor Education and Advocacy issued an Investor Alert on Wednesday, cautioning investors about the increasing threat of scams involving crypto asset securities.…

After two consecutive months of record-breaking revenue, bitcoin miners experienced a significant downturn in earnings in May, a level not seen since October 2023. In April, miners generated $1.79 billion, whereas May’s figures show a considerably lower revenue of approximately $964.24 million. Sharp Decline in Bitcoin Miner Revenue in May Bitcoin miners generated 46.15% less revenue in May compared to April, according to the theblock.co data. Miners earned $964.24 million from block subsidies and fees in May. Onchain fees were $64.85 million in May, significantly lower than the $281.47 million accrued in April. This marked the lowest earnings since October 2023,…

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How Solana Went From $2 To $200 In 2 Years https://www.youtube.com/watch?v=cKBl4GB7Uqw

According to a CoinGlass report, Binance sees a substantial drop in trading volume, which is currently tied to trading bots that are used for stabilizing the market and liquidity. As for now, major assets are losing from 70% up to 95% of their volume, but it is not yet clear what the reason is behind the drop. The report goes further to indicate that Binance currently experiences huge declines in trading volumes related to inter-trading bots that are used for market stabilization and providing the necessary liquidity. At the moment, the main assets are losing from 70% up to 95%…

Global investment bank JPMorgan has expressed doubt that the U.S. Securities and Exchange Commission (SEC) will approve solana ETFs or any other spot crypto ETFs beyond bitcoin and ether. The decision by the SEC to approve ether ETFs “is already stretched given the ambiguity about whether ethereum should be classified as security or not,” said JPMorgan’s analyst. JPMorgan Weighs In on Potential SEC Approval of Other Spot Crypto ETFs The U.S. Securities and Exchange Commission (SEC)’s recent approval of spot ethereum exchange-traded funds (ETFs) has sparked discussions on the potential for other spot crypto ETFs, such as XRP or solana (SOL). While…

Binance is one of the largest and most influential cryptocurrency exchanges in the world. It quickly became a leader in the crypto industry because of its wide range of services and user-friendly interface after its establishment in 2017. The market requirements necessitated the need for constant innovation by Binance, which goes the extra mile to facilitate progress. The concept of “forging a path” reflects Binance being at the cutting edge of development through technology, setting regulatory frameworks, and making cryptocurrencies more accessible to broader populations, among other things. Binance’s Contribution to Cryptocurrency Adoption  Through its actions, Binance has played a…

Bitcoin (BTC) was ideally tasked with sustaining the ongoing momentum. It was closer to surpassing the milestone of $70,000. Now, it has decided to retrace the tracks to $67,000. The target of $84,000 is still in sight, but it could be delayed comparatively. Meanwhile, Ethereum (ETH) and Solana (SOL) have picked up their respective paces by banking some gains. All this has happened in the last 24-48 hours. Interestingly, Bitcoin losing momentum is gaining less attention simply because it has a better chance to rebound. Ether continues to be driven by speculation around the approval of ETF applications. It is…