Author: Crypto News Live

A combination of escalating interest rates and a tight regulatory environment in the United States has driven a $417 million outflow from the crypto industry in the past eight weeks, with halts in trading for many altcoins draining liquidity and prolonging the ongoing crypto winter.This environment is forcing crypto companies to rethink and adapt their business strategies.Crypto exchange Binance, for instance, is moving forward with efforts to diversify its sources of revenue amid legal challenges with regulators. The company is launching a new subscription-based cloud mining product dedicated to Bitcoin (BTC), allowing users without equipment to purchase Bitcoin hash rates…

Layer 2 solutions like Arbitrum, Optimism and Polygon showed consistent growth. Polygon dominates the L2 sector with high activity. The recent lawsuits filed by the SEC against major cryptocurrency exchanges Coinbase and Binance, coupled with the FOMC announcement, have increased fear, uncertainty, and doubt (FUD) within the crypto market. However, amid this growing uncertainty, layer 2 (L2) solutions are defying the odds and demonstrating significant growth. Is your portfolio green? Check out the Arbitrum Profit Calculator L2s scaling faster than ever The scaling factor represents the multiplier by which transaction processing capacity and performance improve in comparison to the L1…

Welcome back to Now Runway, where we report to you from the frontlines of the digital fashion and luxury revolution. We’re eagerly awaiting all things Paris Fashion Week. For those attending IRL, please report back on how authentic the pigeon shit looks on the newest networked product courtesy of the gmoney x Jeff Staple collab for 9dcc. Credit: gmoney/Jeff Staple In the meantime, here’s what you may have missed this past week: Fewocious and Adidas collaborating on a mint pass and physical shoe release, Puma upping their metaverse game, a DressX collab with TikTok sensation, Mackenzie Turner on Roblox, and…

TL;DRBitcoin spot ETFs don’t exist in the US yet. And it’s not for lack of trying – Gemini and Grayscale have both tried to get blockchain ETFs approved.Now BlackRock, a company with 9.5 TRILLION DOLLARS under management, is rumored to be trying its hand at launching a US Bitcoin ETF.If you’re a Bitcoin holder, this is a big deal! Even a 1-2% allocation of total funds from BlackRock could have MASSIVE effects on the BTC price.That said, a 1-2% allocation would also lead to BlackRock owning ~20% of all the Bitcoin in existence, at today’s prices. (Allowing BlackRock to hoard…

A Hong Kong crypto company was forced to pay more than $1.7 million in investor refunds and penalties after reaching an agreement with the New York State Attorney General (AG) Letitia James. James launched a lawsuit against the trading platform CoinEx in February, accusing the company of failing to register as a securities and commodities broker-dealer and for falsely representing itself as a crypto exchange. The attorney general announced in a press release this week that CoinEx will pay more than $1.1 million in refunds to 4,691 New York investors and more than $600,000 in penalties to the state as…

Life Beyond released their new Solo Combat Trials feature a few weeks ago, pitting players against a series of obstacles and enemies in a generated simulation. Now they bring us a four week, play and earn event with prizes for the top 10 each week, including ships from Star Atlas! In a cross-game, promotional, play and earn event with Star Atlas, Life Beyond brings us Mission Dolos: Solo Combat Trials. This event runs for four weeks, broken down into 1 week intervals. Each week features a new player leaderboard and a new set of prizes! These prizes are boosted if…

Solana’s DeFi performance declined, with falling volumes and reduced activity on the protocol. However, Solana witnessed growth in NFTs and social engagement, while stakers remain hopeful. The Solana network has faced major issues in the past related to downtime, resulting in a loss of trust from many crypto users. However, recent improvements in activity on the protocol offer a glimmer of hope for its resurgence in the market. Is your portfolio green? Check out the Solana Profit Calculator Troubles in the Defi sector Despite witnessing increased activity on the Solana network, the protocol has failed to make significant strides in…

New York-based digital assets trading platform Bally has taken a step back, delisting Solana, Polygon, and Cardano, according to the report by James Hunt for The Block, citing an article published in Fortune. The reason? A cloud of regulatory uncertainty that’s casting long shadows over the crypto stage. Marc D’Annunzio, the company’s general counsel and secretary, likened the move to a strategic intermission, a pause “until there is further clarity on how to compliantly offer a more extensive list of coins.” This decision comes hot on the heels of recent lawsuits filed by the U.S. Securities and Exchange Commission (SEC)…

The crypto market continues to experience its highs and lows. Now, renowned cryptocurrency expert, Egrag Crypto, has shared an insightful prediction on Twitter about the journey of XRP, through what he labels as “The Bent Fork.” #XRP: The Bent Fork (15$ & Historical Support)Introducing the intriguing journey of #XRP, symbolized by “The Bent Fork,” a roadmap with four distinct tracks:Track A) Major Historical Support Track B) Ranging Zone Track C) Mid-Cycle Top Track D) Cycle TopObserving the… pic.twitter.com/r5XRVC0a8T— EGRAG CRYPTO (@egragcrypto) June 2, 2023 What is this about and can it help you navigate the markets better? Read on. XRP’s Potential JourneyEgrag…

Binance, the world’s largest cryptocurrency exchange, is facing mounting regulatory challenges in Europe and the United States in the aftermath of the United States Securities and Exchange Commission (SEC) filing a civil lawsuit against the company on June 5.  French authorities are investigating the company for alleged “aggravated money laundering” and other illegal activities related to digital asset services, according to Le Monde. Simultaneously, Binance is preparing to exit the Netherlands after failing to secure a virtual asset service provider (VASP) license, the company explained in a blog post on June 16. On top of that, Binance’s U.S. affiliate has…