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The banking circus in the U.S. continues. Despite the titanic efforts of the federal government, the situation is gradually worsening.
This time, Wells Fargo, the 4th largest bank in the U.S., is already under attack. Progress is evident in this plan; the fire is gradually spreading to larger structures, for the rescue of which astronomical sums are already needed.
Wells Fargo this week limited cash withdrawals to $1,000 a day. The bank is trying to do something to block ordinary depositors from withdrawing (rescuing?) their money.
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Every day, there are more reports about the sale of the top altcoins, previously listed by the SEC.
Three of them — Cardano (ADA), Solana (SOL), and Polygon (MATIC) — toppled by around 29% each during the past seven-day span following the regulatory bombshells, according to CoinGecko data.
And while some analysts are predicting the beginning of their rebound after the panic sell-off ends, so far we see continued selling and pressure on the market. As an example, we can see another sell-off and closing of positions by an investment fund:
Yesterday, we saw the biggest drop in the crypto markets in 2023:
The SEC and CFTC are not specifically charging Binance with money laundering and have left that up to the Attorney General’s Office at the Department of Justice, which will pursue criminal charges rather than civil ones.
A Solana community representative is gathering votes for a fork of the original altcoin (an unofficial initiative). According to his plan, by changing the ticket, they will be able to hide from the SEC’s radar, and the new asset will be able to grow rapidly without regulatory pressure. The plan is equally bold as it is ridiculous (your choice).
If you don’t like the idea of a $SOL clone, the alternative is to short BNB — if the inside story from John Reed Stark is correct, a major blow to Binance is coming. Criminal prosecution for money laundering is a very serious charge that will allow the prosecution of Binance around the world. So far, only important technical news has stopped BNB’s continued fall — BNBChain has successfully launched Fast Finality, a major update for this blockchain.
Hey, crypto enthusiasts! 👋 ☝️ MEXC will support the Chiliz (CHZ) network upgrade and hard…
Binance, the largest cryptocurrency exchange globally, has played a crucial role in the arrest of…
In the ongoing legal confrontation between Ripple Labs and the U.S. Securities and Exchange Commission…
LocalMonero, a peer-to-peer (P2P) trading platform known as the Monero equivalent to LocalBitcoins, has ceased…
The Starknet Foundation has launched a $5 million grant program dedicated to fostering innovation and…
Polygon, an Ethereum layer-2 scaling solutions developer, is intensifying competition in the blockchain scaling arena…