Coinbase has announced the suspension of trading for Binance USD (BUSD) on its exchange, citing regulatory guidance as the reason for the decision.

In a surprising move, Coinbase, one of the world’s largest cryptocurrency exchanges, has announced that it will suspend trading of Binance USD (BUSD) on its platform. This news has sent shockwaves throughout the cryptocurrency industry and left many investors wondering what the implications of this decision will be.

BUSD is a stablecoin that is pegged to the value of the US dollar and is issued by Binance. BUSD is one of the most popular stablecoins, and is widely used.

So why has Coinbase decided to suspend trading of BUSD on its platform? According to a statement released by Coinbase, the decision was made “in response to recent regulatory guidance.” This is likely a reference to the recent crackdown on cryptocurrency exchanges by regulatory bodies around the world.

Over the past few months, we have seen a number of governments and regulatory bodies increase their scrutiny of the cryptocurrency industry. This has led to a number of exchanges being shut down or forced to suspend trading of certain cryptocurrencies.

It seems that Coinbase is now taking a proactive approach to ensure that it is not caught up in any regulatory issues.

The decision to suspend trading of BUSD on Coinbase will likely significantly impact the cryptocurrency industry. BUSD is a widely used stablecoin and its suspension on Coinbase could lead to a decrease in its value. This, in turn, could lead to a decline in the value of other cryptocurrencies that are traded against BUSD.

It is important to note that this is not the first time that Coinbase has suspended the trading of a cryptocurrency on its platform. In the past, the exchange has suspended trading of XRP and other cryptocurrencies that were facing regulatory scrutiny.

While the decision to suspend trading of BUSD on Coinbase may be disappointing for some investors, it is important to remember that the cryptocurrency industry is still in its infancy.

As regulatory bodies around the world continue to develop guidelines for the industry, we are likely to see more exchanges take similar actions to ensure their compliance.

The decision by Coinbase to suspend trading of Binance USD on its platform is a significant development in the cryptocurrency industry. It highlights the need for exchanges to be proactive in their approach to regulatory compliance and may have broader implications for the value of stablecoins and other cryptocurrencies.

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According to Anndy Lian, President of NFT Factory, NFTs have the potential to be a “Trojan horse” for crypto adoption, offering a tangible and unique asset that can bridge the gap between traditional collectibles and the world of blockchain.

Non-Fungible Tokens (NFTs) have emerged as one of the most popular use cases for blockchain technology in recent years.

NFTs represent unique digital assets that can be traded and owned in a decentralized way, thanks to the security and transparency provided by blockchain technology. While NFTs have gained popularity in the art world, they also have the potential to drive crypto adoption on a much larger scale.

According to Anndy Lian, President of NFT Factory, NFTs could serve as a “Trojan horse” for crypto adoption. In a recent interview, Lian explained that NFTs are an accessible entry point for individuals who may not be familiar with cryptocurrencies or blockchain technology.

By offering a tangible and unique asset, NFTs provide a bridge between traditional collectibles and the world of blockchain.

One of the key advantages of NFTs is their versatility.

While NFTs have gained significant attention in the art world, they can represent a wide range of assets, including music, videos, and even virtual real estate. This flexibility opens up a vast array of possibilities for NFT adoption, as there are countless industries that could benefit from the use of unique digital assets.

For example, the gaming industry has seen significant growth in recent years, and NFTs could play a significant role in the future of gaming.

Games that utilize blockchain technology and NFTs can offer players true ownership over in-game assets, such as rare items or unique characters. This not only adds a new layer of value to the gaming experience but also provides a way for players to earn money from their gaming activities.

Another industry that could benefit from NFT adoption is the music industry. With the rise of streaming services, musicians are struggling to earn a fair income from their work. NFTs could offer a new revenue stream for musicians, by allowing them to sell unique digital assets, such as concert tickets or limited-edition merchandise.

The potential for NFT adoption goes far beyond these examples.

From sports memorabilia to virtual fashion, the possibilities for unique digital assets are nearly endless. By leveraging the security and transparency of blockchain technology, NFTs provide a way for individuals and businesses to offer unique, verifiable assets that can be traded and owned in a decentralized way.

Furthermore, the versatility of NFTs opens up a wide range of use cases and industries for blockchain and cryptocurrencies. By representing unique digital assets, NFTs can be used in gaming, music, sports, and virtual real estate, among others, demonstrating the potential of blockchain technology beyond traditional cryptocurrency use cases.

While NFT adoption is still in its early stages, the potential for growth is significant. As more individuals and businesses become familiar with the benefits of blockchain technology and NFTs, we could see a surge in adoption in the coming years.

As a unique digital asset that can travel globally, NFTs have the potential to drive widespread crypto adoption.

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Well-known cryptocurrency trader and analyst Pentoshi has tweeted a warning to investors and traders, stating that he is feeling less confident in the market than he was a week ago due to concerns over momentum and tired altcoins.

Cryptocurrency can be a wild ride, with prices that can soar one day and then plummet the next. So when a well-known cryptocurrency trader and analyst, Pentoshi, took to Twitter to share his thoughts on the current state of the market, many people sat up and took notice.

Weak altcoins cause for pause

In his tweet, Pentoshi admitted that he was feeling less confident in the market than he was just a week ago. He pointed out that many altcoins looked “tired” and that there were “momentum concerns.” Basically, he was worried that the market might be slowing down, which could lead to a price correction.

As someone with a lot of experience in the crypto industry, Pentoshi’s opinion carries a lot of weight. His decision to be “less aggressive” in the market is a sign that he’s taking a more cautious approach to trading. This could be a warning to other traders that they need to be careful too.

So what does this mean for the wider crypto industry?

It’s hard to say for sure, but it could be a sign that we’re entering a period of consolidation, where prices stabilize after a period of growth. This could be a good thing, as it would make the market less volatile and more predictable.

On the other hand, it could also mean that the hype around cryptocurrency is starting to die down, which could lead to a decrease in demand.

In any case, Pentoshi’s tweet is a reminder that the world of cryptocurrency is always changing. Investors and traders need to stay alert and be ready to adapt to new market conditions.

While it’s impossible to predict the future, one thing’s for sure: Pentoshi’s words will be closely watched by everyone in the crypto community, and could have a big impact on market sentiment in the weeks and months to come.

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Cryptocurrency exchange, Coinbase, has disclosed a recent cyberattack on some of its employees, using spear-phishing emails to steal data.

Coinbase, one of the largest cryptocurrency exchanges in the world, recently disclosed a cyberattack that targeted a few of its employees. The company issued a statement on Twitter to inform its customers about the incident and reassure them that no funds were compromised.

Coinbase employees under attack

According to Coinbase, the attackers used spear-phishing emails to gain access to the employees’ devices and steal data.

The hacker attempted to gain access to Coinbase’s internal systems using an employee’s username and password, but the Multi-Factor Authentication security measure prevented them from doing so, prompting the exploiter to contact the employee and pose as Coinbase’s IT department.

Coinbase’s Computer Security Incident Response Team detected the unusual activity through its Security Incident and Event Management system and reached out to the victim via the company’s internal messaging system.

The company’s security team detected the attack immediately and prevented further damage by taking action and isolating the affected devices.

Coinbase emphasized that it takes security seriously and has strict measures in place to protect its platform and users’ assets. The company also encouraged its customers to take their own security measures seriously, such as using two-factor authentication and being cautious of phishing attempts.

Despite the attack, Coinbase assured its users that its operations are unaffected, and they can continue to use the platform as usual. The company also stated that it is working with law enforcement to investigate the incident and identify the culprits.

Cyberattacks are unfortunately becoming more common in the cryptocurrency industry, and exchanges must remain vigilant and prepared to prevent and respond to them.

As customers, it’s important to take our own security seriously and take steps to protect our assets. By working together, we can help ensure that the cryptocurrency industry remains secure and trustworthy for everyone.

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Kraken CEO Jesse Powell predicts that Bitcoin could reach a price of $10 million, representing 25% of the world’s current wealth, based on the cryptocurrency’s limited supply of 21 million coins.

Kraken CEO Jesse Powell has boldly predicted that bitcoin could eventually reach a price of $10 million, leading to a market capitalization of $200 trillion, which would represent 25% of the world’s current wealth. This forecast is based on bitcoin’s limited supply of 21 million coins, which Powell believes will drive up the cryptocurrency’s value due to its inherent scarcity.

Additionally, Powell cites bitcoin’s decentralized nature and its potential as a store of value that could replace gold as factors that could drive institutional adoption.

Bitcoin may rise substantially

While Powell’s prediction may seem highly optimistic, it’s worth noting that bitcoin has already shown remarkable growth since its inception.

The cryptocurrency has risen from less than a dollar to over $50,000 in just over a decade, with mainstream investors such as Tesla and MicroStrategy investing billions of dollars in bitcoin. However, it’s important to keep in mind that cryptocurrency prices can be highly volatile and subject to market conditions.

Bitcoin’s finite supply is one of the cryptocurrency’s most significant characteristics, as it differentiates it from fiat currencies that are subject to inflationary pressures.

The fixed supply of bitcoin means that its value is largely driven by demand, and as more people adopt the cryptocurrency, its value could increase significantly. This potential for growth has attracted institutional investors, who view bitcoin as a hedge against inflation and a way to diversify their investment portfolios.

Institutional adoption of bitcoin has been on the rise in recent years, with companies such as PayPal, Square, and Visa integrating cryptocurrency payments into their platforms. Additionally, traditional financial institutions such as Fidelity and Morgan Stanley have launched cryptocurrency-focused products to meet the growing demand from their clients.

While the future of bitcoin is uncertain, its potential to disrupt traditional finance and revolutionize the way we exchange value cannot be ignored.

As Powell notes, bitcoin’s limited supply, decentralized nature, and potential to replace gold as a store of value could drive its adoption among institutional investors and ultimately lead to its growth beyond what many might consider possible today.

However, investors should always exercise caution and do their own research before making any investment decisions.

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In a significant ruling, a U.S. federal judge has declared that NBA Top Shot non-fungible tokens (NFTs) may be categorized as securities, potentially impacting the NFT industry.

A recent ruling by a U.S. judge has deemed NBA Top Shot NFTs as securities, which could have significant implications for the NFT market as a whole. The decision was made in a case involving Dapper Labs, the company behind NBA Top Shot, which is one of the most popular NFT platforms in the world.

Investors had claimed that the NBA Top Shot NFTs were securities and should have been registered with the U.S. Securities and Exchange Commission (SEC). They argued that the NFTs met the legal definition of securities, as they were being sold to investors with the expectation of making a profit.

The judge agreed with the plaintiffs, stating that the NBA Top Shot NFTs were indeed securities and should have been registered with the SEC. This is a blow to Dapper Labs, which had argued that its NFTs were not securities but simply digital collectibles.

Although this ruling may seem like bad news for Dapper Labs, it could actually benefit the wider NFT market in the long run. The clarity and regulation brought by this decision could help to build trust and confidence among investors, and help to weed out bad actors and scams in the market.

This ruling serves as a reminder that the NFT market is still a relatively new and evolving industry that is subject to the same legal and regulatory scrutiny as any other financial market.

We may see more legal challenges in the future as regulators and investors seek to better understand the market. For now, we must wait and see how the NFT market will react to this ruling.

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PeckShield, a blockchain security company, has issued a warning about the rise of pump and dump tokens on BingChatGPT, cautioning investors to be vigilant and do thorough research before investing in any new or untested tokens.

PeckShield, a blockchain security company, has reported that there has been a significant increase in the creation of pump and dump tokens on BingChatGPT. Mischievous groups are using these tokens to deceive people into buying them at a high price and then dumping them, causing their value to plummet.

BingChatGPT scams are up

The creators of these tokens use social media and chat rooms to promote them and create hype around them. Once the value of the tokens reaches a certain level, they sell their holdings, and this causes the price to drop. This leaves people who invested in these tokens with worthless tokens and a significant loss of their money.

PeckShield recommends that investors be extra cautious when investing in new and untested tokens. Investors should do their research before putting their money into any project, and they should be wary of any token that experiences sudden and significant price changes. These changes may be a sign of a pump and dump scheme.

The emergence of numerous pump and dump tokens on BingChatGPT is a worrying trend. Investors must be aware of the dangers of investing in untested tokens and be vigilant when investing their money.

Some experts recommend doing thorough research before investing and avoid any token that shows signs of artificial inflation or sudden price changes. PeckShield’s report warns potential investors to be extra cautious when dealing with these types of tokens.

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A GitHub user known as ynohtna92 has made history by forking the Bitcoin Ordinals protocol to create the world’s first-ever Litecoin Ordinal, a significant development in the cryptocurrency world.

In recent cryptocurrency news, a GitHub user who goes by the handle ynohtna92 has created a Litecoin version of the Bitcoin Ordinals protocol by forking the original code.

A fork is a split in the blockchain protocol that leads to the creation of two separate versions, each operating on its own network while sharing a transaction history. Forks may occur due to differences in opinions among developers, miners, or users regarding the blockchain’s direction of development.

Litecoin Ordinals are here

To create the Litecoin Ordinal fork, some adjustments to the ordinal number scheme were necessary. Upon reviewing the source code of the Litecoin Ordinal fork, CryptoSlate discovered that minor changes had been made to the main dependency rust-bitcoin to allow for the decoding and encoding of Litecoin addresses.

Thanks to these modifications, ynohtna92 was able to create the world’s first Litecoin Ordinal, a historic event in the world of cryptocurrencies. In the wake of the Litecoin MWEB upgrade, ynohtna92 inscribed the mimble wimble white paper in the first Litecoin Ordinal, which is called “inscription 0”.

The creation of the Litecoin Ordinal by ynohtna92 is a significant development in the cryptocurrency world. With the inscribing of the mimble wimble white paper on the first Litecoin Ordinal, it remains to be seen what further innovations and developments this fork will bring.

Nonetheless, the creation of the Litecoin Ordinal is a testament to the ever-evolving nature of the blockchain and cryptocurrency industries.

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The Financial Conduct Authority (FCA) and West Yorkshire Police have teamed up to disrupt unregistered crypto businesses operating illegally in the U.K., with a focus on identifying and disabling illegal crypto ATMs

The Financial Conduct Authority (FCA) has carried out a joint operation with the West Yorkshire Police’s Digital Intelligence and Investigation Unit, gathering evidence from various locations in the city.

The goal of the operation was to identify and disrupt unregistered crypto businesses operating illegally in the U.K.

According to Mark Steward, the executive director of enforcement and market oversight at the FCA, crypto ATMs operating in the U.K. without registration are doing so illegally.

He further explained that crypto businesses operating in the U.K. must be registered with the FCA for anti-money laundering purposes and that crypto products are currently unregulated and high-risk.

The U.K. may have “britcoin” soon, which would be officially regulated.

According to reports, the Force Cyber Team at West Yorkshire Police, led by Det Sgt Lindsey Brants, recently discovered several active crypto ATMs in West Yorkshire after conducting intelligence-gathering work.

The police issued warning letters to the operators of the machines, urging them to stop using them and informing them that any violations of regulations would result in an investigation under money-laundering laws.

Furthermore, the police collaborated with the FCA and shared their findings, expressing their satisfaction at this collaboration being the first of its kind in the area.

It should be noted that crypto ATMs enable customers to purchase or convert funds into crypto assets, and crypto asset exchange providers, which include crypto ATM operators, are required to be registered with the FCA and comply with the U.K.’s Money Laundering Regulations.

However, none of the crypto ATM operators are currently registered with the FCA. The FCA has warned all crypto ATM operators and hosts of the legal ramifications of not registering with the regulatory authority.

Additionally, the FCA is working with various law enforcement agencies, including local police forces, to disable and stop illegal crypto ATMs. The FCA is set to examine the evidence collected during the raids and consider possible enforcement actions.

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Polygon has revealed that its zero-knowledge Ethereum Virtual Machine (zkEVM) beta main network is set to go live on March 27.

Polygon, a scaling solution for Ethereum, recently announced that its zero-knowledge Ethereum Virtual Machine (zkEVM) beat main network will launch on March 27.

The zkEVM is a zero-knowledge rollup designed to improve blockchain and cryptography. The technology aims to increase transaction speed and reduce costs, making it a promising solution for the future of blockchain.

Polygon wants ZKs to make a difference

Polygon is currently exploring ways to bring ZK technology to its main chain, the Polygon proof-of-stake (POS) chain. It is an exciting development that could bring about more scalability opportunities.

Polygon’s co-founder, Mihailo Bjelic, stated in an interview that the blockchain project is also exploring ways to bring ZK technology to its main chain, the Polygon POS chain. This move would represent a significant step forward for Polygon, allowing them to expand its offerings and capabilities.

“Polygon zkEVM Mainnet is set to be the first fully EVM equivalent ZK rollup to reach mainnet, this represents a huge step towards scaling Ethereum and bringing Web3 to the masses. The countdown to the launch is on.”

Sandeep Nailwal, Polygon co-founder.

With more than 75,000 ZK proofs generated and 5,000 smart contracts deployed since the testnet went live in October, the launch of the beta main network promises to provide a scalable solution for Ethereum developers.

The price of Polygon’s native MATIC token has risen 56% this year, which reflects the growing excitement and anticipation surrounding Polygon and its innovative solutions for blockchain.

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