China News Daily TheBitTimes.com

Top10 News 1. BUSD’s weekly summary a. U.S. SEC and others crack down on BUSD link U.S. SEC has told Paxos Trust Co. that it plans to sue the company for violating investor protection laws. The notice alleges that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security. Firms that receive Wells notices are allowed to respond in writing and tell the SEC why it shouldn’t proceed with a lawsuit. Wells notices aren’t a final indication that the SEC will take enforcement action. Explanation： According to Adam Cochran, “securities” is a much broader category defined by the 1933 Securities Act that include note, debenture, evidence of indebtedness, certificate of interest, collateral trust certificate, certificate of deposit, etc., which do not necessarily meet the strict Howey test. b. Regulator orders crypto firm Paxos to stop issuing Binance stablecoin link The New York Department of Financial Services ordered Paxos Trust Co., which issues and lists Binance...

Join Our Telegram channel to stay up to date on breaking news coverage Bankrupt cryptocurrency firm Celsius has found a buyer after reaching a deal with investment firm NovaWulf Digital Management. What: Crypto lending company Celsius Network has found a buyer, NovaWulf Digital Management Why: The deal will allow Celsius to start returning crypto assets to customers beginning June What next: Creditors of Celsius Earn Accounts, who are owed less than $5,000, will receive 70% recovery of their funds, with the agreement expected to set a precedent and provide a roadmap for other bankrupt crypto firms In a bankruptcy court filing, the debtors of Celsius Network put forward a plan to sell Celsius’ liquid and illiquid assets. The plan stipulates that Celsius customers would receive a share of their liquid crypto held on the platform, including BTC and ETH. In the latest report, Celsius’s official unsecured creditors committee (UCC) backed the proposal...

Bitcoin and select altcoins have rebounded sharply off their support levels, a possible sign that traders are buying the recent dip in the market. Bitcoin (BTC) is leading the cryptocurrency markets on the path to recovery. Although the United States Consumer Price Index (CPI) print for January was marginally higher than expectations, it did not dent the enthusiasm of bullish crypto trader. A positive response to seemingly negative data is a sign that the sentiment is bullish and traders are looking for buying opportunities. However, some analysts are cautious due to the strengthening of the U.S. dollar index (DXY). They believe that a sustained rally in the DXY could limit the upside in cryptocurrencies. Daily cryptocurrency market performance. Source: Coin360 Usually, long-term downtrends are followed by a base formation. During this phase, several analysts remain skeptical about a rally but the price action continues to surprise them. Although data is important, short-term traders ...

Police in the U.K., in collaboration with the Financial Conduct Authority (FCA), have raided several sites allegedly hosting cryptocurrency ATMs. “No crypto ATM operators currently have FCA registration,” the British financial regulator stressed, adding that it is “working with multiple law enforcement partners, including local police forces, to disrupt and disable illegal crypto ATMs.” UK Regulator Cracks Down on Unregistered Crypto ATMs Authorities in the U.K. have raided several sites around the city of Leeds in a cryptocurrency ATM crackdown. The raids followed a joint investigation between the country’s top financial regulator, the Financial Conduct Authority (FCA), and West Yorkshire Police’s Digital Intelligence and Investigation Unit. The FCA announced Tuesday that it “has used its powers to enter and inspect several sites around Leeds suspected of hosting illegally operated crypto ATMs.” Emphasizing that “Crypto exchange...

Baby Doge Coin (BABYDOGE) has made serious gains over the last two weeks. Since Feb 1st, the canine-themed dogcoin has made gains of up to 161.71%. Moreover, according to CoinGecko, the currency has rallied up to 271.5% in the monthly charts. Over the year, the token has gained about 18.3%. Baby Doge Coin’s (BABYDOGE) current rally can be attributed to the launch of its burn portal. Moreover, given that the larger cryptocurrency market is in a slump, there is no other development to push the memecoin. Nonetheless, fans and users of BABYDOGE are ecstatic about the new burn portal. The new burn portal will remove five tokens for every token burned on the portal through April 1st. The Burn Portal is now LIVE 🔥 Burn your # BabyDoge for lower buy fees at https://t.co/gYTkI1bdFj We will burn 5 tokens for every token burned on the portal through April 1st! pic.twitter.com/80gqgxFUiC — BabyDogeSwap.com LIVE (@BabyDogeCoin) February 13, 2023 Due to the signific...

Don't be fooled by its emptiness: Block 776,339 plays as important a role as busier blocks in the Bitcoin blockchain. Bitcoin (BTC) is known for its robustness, security and predictability. Every 10 minutes–on average–the blockchain produces a new block and the successful miner earns a block reward of 6.25 BTC, circa $130,000.  However, every once in a while, the Bitcoin blockchain surprises observers and participants. At block height 776,339, nodes across the network verified a completely empty block . The block was added to the Bitcoin block chain with zero included transactions–leading to some confusion among the crypto community. So, what exactly is an empty block , and how does it happen? Block expectation vs reality according to source: mempool.space First, while an empty block might seem strange at first, it's actually a normal occurrence on the network. The last time it occurred was little over two weeks ago, in block 774486. Miners are incentivized to mine bloc...

Join Our Telegram channel to stay up to date on breaking news coverage Loopring (LRC) is recovering after turning away from the $0.45 barrier. The Loopring price had escaped from a bullish chart pattern after rising as much as 28% on Friday. This set the token up for a massive move northward. Where is LRC headed next? Let’s find out. Loopring Price Bulls To Exploit A Bullish Flag As They Eye $0.66 After recording a swing low of $0.18, the Loopring price embarked on a recovery that saw it rally 140% in January to reach $0.446, levels last seen in August 2022. The price then turned down from the said level as sellers sold on the rallies. This correction set a local low at $0.32, before yesterday’s recovery. This price action has painted a bullish flag as shown on the daily chart below. This is a highly bullish chart formation that projects a massive upward move. It is confirmed once the price produces a daily candlestick close above the flag, confirming a bullish esc...

Bitcoin and Ether have the largest share in PayPal’s crypto assets, accounting for $291 million and $250 million in the asset breakdown, respectively. Global payment giant PayPal holds a significant part of its financial liabilities in cryptocurrencies like Bitcoin (BTC) offered to its customers. As of Dec. 31, PayPal held a total of $604 million in various Cryptocurrencies including Bitcoin, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), according to the annual report filed with the United States Securities and Exchange Commission (SEC) on Feb. 10. Bitcoin has the largest share in PayPal’s crypto assets, accounting for $291 million in the firm’s asset breakdown, while $250 million is held in ETH. The remaining $63 million includes Litecoin and Bitcoin Cash combined. The amount of PayPal’s crypto holdings accounts for 67% of the company’s total financial liabilities amounting to $902 million as of Dec. 31. PayPal’s total financial assets stood at more than $25 billion, according...

According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will reinforce a “surveillance economy,” and the unalterable nature of the World Economic Forum’s proposal, known as the Great Reset. The Consequences of Bank ‘Bail-Ins,’ CBDCs, and the Great Reset In a recently published video interview, Lynette Zang, the chief market analyst at ITM Trading, sat down with Michelle Makori, lead anchor and editor-in-chief at Kitco News. Zang discussed how the U.S. dollar and most major fiat currencies are near their end. “People don’t realize that everything has a life cycle,” Zang told Makori. “I’m at a different point in my life at 6...

Join Our Telegram channel to stay up to date on breaking news coverage Axie Infinity (AXS) token has risen by 57% in the past month. What could this mean for the Axie Infinity holders and investors? The year 2022 was a challenging one for cryptocurrency investors, particularly in the Axie Infinity ecosystem. Despite this, traders willing to take on the risk may invest in Axie Infinity Shards as the price is expected to rise. Axie Infinity (AXS) Token Axie Infinity is an innovative digital play-to-earn game that combines the excitement of collectible items with the security of blockchain technology. In the game, you can collect and battle unique creatures called Axies. The game has gained popularity due to its imaginative art style and captivating storyline. Make sure to login everyday from Feb 8th-14th to claim romantic daily rewards! pic.twitter.com/nnMvAukxzl — Axie Infinity | #AxieOrigins, #AxieHomeland (@AxieInfinity) February 8, 2023 Existing AXS holders can...

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Learning the ins and outs of how crypto currency works may be intimidating for beginners, which is where online courses can help.  With that in mind, we have ranked the best cryptocurrency courses for 2023 . Crypto and blockchain courses give investors high-quality training on everything from advanced trading strategies to understanding technical analysis - read on to find out more. The Best Crypto Trading Courses for 2023 We've researched and ranked the best cryptocurrency trading courses for 2023 in the list below: BitDegree - Overall Best Cryptocurrency Course to Earn While Learning Blockgeeks - Blockchain Courses With an Expert Team of Teachers Blockchain Council - Blockchain and Web3 Certifications for Crypto, Metaverse, & NFTs Udemy - Education Platform With Over 213,000 Online Video Courses Piggybacks - Ac...