Cryptocurrency Financial News

Cryptocurrency is the future of finance, and Launchpad XYZ is building the portal to this future. Its platform will provide educational tools, market insights, and access to promising web3 projects, from NFTs to the metaverse. Everything needed to navigate the crypto space will be in one place. 

Former Enforcement Division chief of the U.S. Securities and Exchange Commission (SEC), John Reed Stark, came up with a warning in his Tweet on June 8, 2023. The warning came directly with the label "Get out of crypto platforms now."

cryptocurrency markets were trading mixed on Friday. Bitcoin, XRP, and Polygon were trading with gains, while Ethereum, BNB, and Cardano were trading with cuts. Bitcoin (BTC) rose 0.58% to $26,532, whereas Ethereum (ETH) was below the $1,850 level. The global cryptocurrency market cap was trading higher around $1.1 trillion, rising 0.53% in the last 24 hours. «Crypto markets have traded sideways in the last 24 hours. The crypto fear and greed index continues to maintain yesterday’s position right in the middle of the scale with 50 points. BTC’s hold around $26.5k remains firm despite events pertaining to the SEC lawsuits and the upcoming monetary policy decision by the Feds due next week,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. The total volume in DeFi stood at $1.91 billion, 7.38% of the total crypto market 24-hour volume. The volume of all stablecoins is at $24.7 billion, which is 95.36% of the total crypto market 24-hour volume.

Binance.US said on Thursday the company is suspending USD deposits while notifying customers that their banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13. The move comes as the U.S.

The freelancing industry has undergone significant changes in recent decades, driven by globalization and increased digitization. 

BitGo Holdings Inc., the renowned digital asset trust and security company, has revealed plans to acquire 100% of the equity of Prime Core Technologies, Inc., the parent company of Prime Trust.

cryptocurrency markets were trading in the red on Thursday. Bitcoin (BTC) fell 2% to $26,432, whereas Ethereum (ETH) was below the $1,850 level. «Bitcoin experienced a drop below the US$26,500 mark amidst SEC filing lawsuit against Binance and Coinbase. Despite attempts, BTC failed to surpass the US$27,000 level again. The current support for BTC rests at US$26,200, with resistance at US$26,600. If the immediate resistance is successfully overcome, it could propel the price even higher,» Edul Patel, CEO and Co-Founder of Mudrex, said. Other top crypto tokens were also trading lower. BNB and Solana fell by over 6%. Meanwhile, XRP, Cardano, Polygon and Polkadot also traded with cuts. Vikram Subburaj, CEO of Giottus Crypto Platform said, «US SEC's recent crackdown on Binance and Coinbase has reinstated fear in the markets with top altcoins like ADA, BNB, SOL and MATIC declining by more than 10% in the last week. Bitcoin and Ethereum continue to hold their levels as a safer hedge for investors. We anticipate more volatility in the upcoming week as the US Fed decides on interest rate hikes.»

What is the SEC alleging? The Securities and Exchange Commission (SEC) sued Coinbase on Tuesday in Manhattan federal court and accused the largest US cryptocurrency platform of operating illegally by evading disclosure requirements. The SEC said Coinbase allowed users to trade at least 13 crypto assets that should have been registered as securities, including tokens such as Solana, Cardano and Polygon.

Finance is a constantly evolving field, especially these days--with new technologies like cryptocurrencies, blockchain, and decentralization disrupting traditional ideas of value, investment, and ownership.

cryptocurrency markets were trading higher on Wednesday. Bitcoin (BTC) surged 5% to $26,936, whereas Ethereum (ETH) was above the $1,850 level. BTC volume stood at approximately $23.77 billion, rising 17% in the last 24 hours. «Crypto markets have showcased resilience by trading in the green over the last 24 hours. The crypto fear and greed index has also regained its position in the neutral zone by climbing 9 points since yesterday. This could be attributed to a strong resilience shown by the industry, despite the SEC serving a lawsuit to Coinbase, similar to Binance from the day before,» said Shubham Hudda, Senior Manager at CoinSwitch Markets Desk. Other top crypto tokens were also trading higher on Wednesday. Dogecoin and Litecoin rose by over 4%. Meanwhile, BNB, XRP, Solana and Polkadot also traded with gains. The global cryptocurrency market cap was trading lower around $1.13 trillion, rising 3.14% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $522 billion. Bitcoin’s dominance is currently 46.38%, an increase of 0.61% over the day, according to CoinMarketCap.

Binance, another blow to the industry. The U.S. Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a «web of deception» to evade U.S. laws, among other charges. Reuters earlier reported that Binance controlled its US affiliate's bank accounts, despite claiming it was independent. The SEC also said Binance artificially inflated trading volumes on the platform, diverted customer funds and failed to restrict U.S. customers from its platform and misled investors about market surveillance controls. Bitcoin, the world's biggest cryptocurrency was down 5.45% after falling to its lowest level since mid-March following the news. Binance's cryptocurrency fell 9.72%.

Coinbase, one of the leading cryptocurrency exchanges globally, faces a lawsuit from US regulators, hot on the heels of similar legal action against Binance, another industry heavyweight.

cryptocurrency markets were trading higher on Friday ahead of US unemployment and non-farm payroll data. Bitcoin (BTC) rose 1.03% to $27,099, whereas Ethereum (ETH) was just below the $1,900 level. BTC volume stood at approximately $14.58 billion, falling 3.55% in the last 24 hours. «Bitcoin traded close to the US$27,000 level as the market awaits the release of the US non-farm payroll data today. The immediate support level for BTC is now at US$26,500, while resistance is at US$27,200,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. Litecoin and Tron surged by over 2%. Meanwhile, BNB, XRP, Cardano, Polygon and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.14 trillion, rising 1.17% in the last 24 hours.

cryptocurrency markets were trading in the red on Tuesday after the U.S. Securities and Exchange Commission (SEC) filed suit against Binance, accusing the exchange giant of violating securities laws. Bitcoin (BTC) declined 4% to $25,764, whereas Ethereum (ETH) was below the $1,850 level. BTC volume stood at approximately $20.32 billion, rising 76% in the last 24 hours. «The latest development between Binance and SEC has spooked the global crypto market resulting in a bloodbath across digital assets. The market will respond sharply as the Binance-SEC saga unfolds; we should brace ourselves for a choppy market in the coming weeks. Regulatory clarity is the need of the hour for the global crypto ecosystem,» Shivam Thakral, CEO of BuyUcoin, said. The world's biggest cryptocurrency exchange Binance and its CEO Changpeng Zhao have been sued by the US Securities and Exchange Commission (SEC), which alleged in a June 5 court filing that the firm operated a «web of deception» that included artificially inflating its trading volumes and commingling customer funds.

The U.S. Securities and Exchange Commission announced today that it has filed charges against Binance, the world’s largest cryptocurrency exchange, for violating federal securities laws.

Atomic Wallet, a mobile and desktop crypto wallet allowing users to store various cryptocurrencies, has experienced a security breach and lost over $35 million in crypto assets since June 2. ZachXBT, an on-chain investigator, has been collecting transactions of funds stolen from Atomic Wallet victims and claimed that over $35 million in cryptocurrency has been stolen as a result of this compromise. «A new largest victim was found on Tron with 7.95M USDT stolen. The five biggest losses account for $17M,» ZachXBT tweeted. «My graph has now surpassed $35M in total stolen,» it added. Cryptocurrency exchange Binance, too, highlighted the issue in a note published on its website

cryptocurrency markets were majorly trading mixed on Monday. Bitcoin, Ethereum, and BNB were trading with cuts, while XRP, Solana, and Tron were trading with gains. Bitcoin (BTC) fell 1.20% to $26,797, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $11.57 billion, falling 39.42% in the last 24 hours. «Crypto markets have continued to be tightly range-bound as overall market capitalization remained just below $1.2 trillion over the weekend, without any change in the last 24 hours. Investors are currently displaying a lack of initiation for trend control. It is because of this that we can expect the market to perform sideways till a prominent narrative picks up,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. The total volume in DeFi is currently $2.29 billion, 8.67% of the total crypto market 24-hour volume. The volume of all stablecoins is now $24.44 billion, which is 92.65% of the total crypto market 24-hour volume.

cryptocurrency markets were majorly trading lower in Thursday's trade amid concerns over the US debt ceiling. Bitcoin (BTC) declined 1.40% to $26,790, whereas Ethereum (ETH) was just above the $1,850 level. BTC volume stood at approximately $15.19 billion, falling 2.45% in the last 24 hours. «Bitcoin was under some selling pressure as the debt ceiling bill goes to the Senate for voting while rapidly changing economic conditions are pushing the investors away from riskier assets. The crypto market is expected to remain choppy in the coming weeks as the world is closely watching the decision on the US debt ceiling bill,» Shivam Thakral, CEO of BuyUcoin, said. The total volume in DeFi is currently at $2.57 billion, 8.06% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.54 billion, which is 92.78% of the total crypto market 24-hour volume.

cryptocurrency markets were trading in the red in Wednesday's trade. Bitcoin (BTC) fell 2.44% to $27,154, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $15.30 billion, rising 20.54% in the last 24 hours. «On Tuesday, Bitcoin reached the $28,000 mark but has since experienced a minor decline as investors kept an eye on developments regarding the debt ceiling deal. They also awaited a crucial House vote on the debt limit deal, which is scheduled for today,» Edul Patel, Co-founder and CEO at Mudrex said. «The price of BTC began a corrective downward movement after failing to surpass the resistance zone at $28,500. Presently, the immediate resistance on the upside lies around the $27,850 level, while support is found at $27,500,» Edul added. The total volume in DeFi is currently $2.62 billion, 7.68% of the total crypto market 24-hour volume. The volume of all stablecoins is now $31.64 billion, which is 92.6% of the total crypto market 24-hour volume.

The DAO Maker (DAO) price has been caught in a downward spiral since falling below its 100-day moving average on May 13. 

cryptocurrency markets were trading mixed on Tuesday. XRP, Solana, and Litecoin were trading with gains, while Bitcoin, Ethereum, and BNB were trading with cuts. Bitcoin (BTC) fell 0.71% to $27,805, whereas Ethereum (ETH) was just above the $1,900 level. BTC volume stood at approximately $12.73 billion, falling 20.53% in the last 24 hours. "Bitcoin price started a decent increase above the US$28,000 resistance zone on Monday. However, it has since declined by over 1% and is trading at the US$27,700 level. An upside break above US$28,000 might send the price toward BTC's next resistance at US$28,500. If BTC's price fails to clear the US$28,000 renaissance, it could continue to move downwards towards US$27,580," Edul Patel, Co-founder and CEO at Mudrex, said. The total volume in DeFi is currently $2.24 billion, 8.05% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.50 billion, which is 91.76% of the total crypto market 24-hour volume.