Author: Ocrypto

Bitcoin payments company Strike has expanded its cross-border payments service to Mexico, as the company aims to tap into the country’s huge remittance market. As of June 14, 2023, the company has provided Send Globally to the third largest country in Latin America. The service allows users to send money internationally, providing a convenient solution for cross-border transactions. In 2021, 94.9% of remittance payments flowing into Mexico originated in the United States, based on data from BBVA Research. According to the digital payments company, about 95% of all transfers processed by Strike from senders abroad are transferred to accounts of…

Shiba Inu price is down 4% in the past 24 hours to $0.00000656 as the crypto market continues to weather the storm against Binance and Coinbase due to the recent SEC actions. SHIB’s current price means it is down 17% over the past week and 25% over the last 30 days, with Meme Token also down 19% since the beginning of the year. However, today’s decline saw SHIB’s 24-hour trading volume climb back up to $100 million, which could help it recover in the coming days. And with signs that whales have started buying SHIB at a discount, it may…

The Bahamas Supreme Court has granted FTX founder Sam Bankman-Fred the power to contest new charges brought against him by US prosecutors. Charges including bank fraud and bribery were added, in addition to the original charges of wire fraud and money laundering, following the collapse of Bankman-Fried cryptocurrency exchange FTX last year. The reason some of the charges were dropped is that they might violate Bankman Fried’s extradition terms because they were not included in the original indictment that served as the legal basis for their extradition to the United States. The former FTX boss was arrested in the Bahamas…

Robinhood Markets Inc., the popular trading platform known for democratizing investing, released its operating data for May 2023, showing an increase in both stock and options trading but a decrease in cryptocurrency trading. In May, Robinhood’s net cumulative funded accounts (NCFA) were 23.1 million, up nearly 20,000 from the previous month. However, this number only represents unique users, as it does not count existing customers who have opened multiple accounts. Despite the increase in the number of funded accounts, Robinhood reported a decrease in its monthly active users (MAU), which fell by about 900,000 from April to May 2023, bringing…

The Solana Foundation has publicly objected to the recent designation by the US Securities and Exchange Commission (SEC) of its native cryptocurrency, Solana (SOL), as a security. The SEC’s designation of the SOL token as a security is pivotal as it imposes an additional set of regulatory and compliance requirements. The ranking is based on several factors, such as the expectation of profits generated by third-party efforts, as well as how the tokens are used and promoted. In a statement, the Solana Foundation disagreed with the SEC’s view, saying it welcomes dialogue with policymakers to clarify the legal status of…

The world’s largest cryptocurrency firm has hired a high-profile legal team to battle the US Securities and Exchange Commission — including hiring a former SEC attorney. According to a filing filed today, Binance US, which was targeted by the SEC on 13 civil charges last week, has appointed George Canelos, who served as co-director of the SEC’s enforcement division. In a lawsuit it filed last week, the SEC alleged that exchange giant Binance, its chairman Changpeng “CZ” Zhao, and Binance US broke securities laws and “enriched themselves with billions of US dollars while putting investors’ assets at significant risk.” Binance…

Financial trading platform eToro said on Monday that US clients can no longer buy Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC), starting next month — as the SEC’s regulatory double-click reverberates throughout. Time financial services industry. Among the 24 tokens listed on the crypto platform eToro facing the US, the tokens to be dropped have been designated as securities by the US financial watchdog in market-stirring lawsuits against the largest cryptocurrency exchanges Coinbase and Binance. An eToro spokesperson told Decrypt: “US clients will no longer be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH),…

XRP price is up 1% over the past 24 hours, recovering to $0.516186 after a weekend in which the altcoin price plunged more than 25% as market makers exited Binance. XRP is now down 3.5% over the past week, but is still up 20% over the past 30 days, with the altcoin up 51% since the beginning of the year. While the SEC actions against Binance and Coinbase have unsettled the market at the moment, XRP is in a stronger position than most other alternatives, as Ripple’s own case with the SEC is set to conclude in the next few…

The DeFi platform team is trying to communicate with the attackers as the stolen ETH is being transferred through Tornado Cash. DeFi lending protocol Sturdy Finance was hit with an exploit that drained 442 ETH (worth around $768,800) from the platform. The vulnerability has been highlighted by blockchain security companies such as PeckShield and BlockSec; The Sturdy Finance team has acknowledged the hack and paused activity on the DeFi platform while they investigate the issue. The protocol makes it possible to borrow against Liquidity Provider (LP) tokens from exchanges such as Curve and Balancer as collateral. The decentralized application offers…

Bitcoin experienced a minor increase this morning in response to weaker-than-expected weekly initial jobless claims. The price rose from under $26,500 to briefly surpass $26,800. The number of claims rose to 261,000 last week, up from the previous week’s 233,000, marking the second-highest reading this year. Although 261,000 initial claims in a week may not be considered a disastrous figure, it indicates a slowdown in the momentum of the robust US labor market observed until now. The latest jobless claims report, released on Thursday, follows other recent US data releases that have shown signs of weakness in the labor market.…