Bitcoin News and Finance: What You Need to Know

Binance fired back at the U.S. Securities and Exchange Commission’s temporary restraining order (TRO) request on Monday, assuring the court that “there is no risk” to customer assets. The exchange’s legal team dismissed the notion of an “emergency,” claiming that it is “manufactured by the SEC for its own purposes.” ‘Why Now?’—Binance Hits Back at SEC’s TRO Bid, Questions Timing and Urgency Approximately a week ago, the U.S. Securities and Exchange Commission (SEC) made a move to secure a court’s approval in order to freeze the assets of Binance US, the United States subsidiary of Binance. The SEC’s aim behind filing for a temporary restraining order was to safeguard customer assets, as stated in their request. However, Binance responded on June 12 by opposing the TRO request and asserting that there is no urgent situation and that customer assets are secure. According to Binance’s legal team, if the SEC had been aware of Binance’s regulatory violations and its open provision of ...

Coin Metrics researchers published a groundbreaking study on June 13, unveiling an innovative nonce analysis methodology for bitcoin mining. This research enables experts to dissect and identify the specific mining rigs responsible for contributing hashrate to the network, while also evaluating the energy consumption and effectiveness of these machines. Intriguingly, the data reveals that Bitmain has exerted its dominance over the industry for an extended period, with three primary Antminer models now commanding the majority of today’s hashrate. Groundbreaking Methodology Shows Researchers Can Dissect and Identify Miner Type, Energy Usage, E-Waste, and Efficiency Karim Helmy, a researcher at Coin Metrics, revealed a new mining study, titled “ The Signal & The Nonce ,” that takes a fresh approach to exploring the hashpower of the Bitcoin network. Introducing an innovative methodology, the study utilizes nonce patterns to unveil the market share held by each significant applicati...

Crypto exchange Binance US has urged a federal judge to reject a request by the U.S. securities regulator to freeze its assets. The company won’t be able to maintain the trading platform or pay employees and vendors, defense attorneys said in a court filing. ‘No Need for the Draconian Relief Sought by the SEC,’ Binance US Lawyers Say Binance US, the American subsidiary of the largest cryptocurrency exchange, Binance, has asked a federal judge to reject a request filed by the U.S. Securities and Exchange Commission ( SEC ) to freeze billions of dollars’ worth of assets under its management. Last week, the SEC sought court approval to freeze crypto assets on the platform for the duration of a legal fight against Binance.US, Binance Holdings Ltd. and Binance founder and CEO Changpeng Zhao, citing concerns over the safety of customer funds. “Operations would quickly grind to a halt,” attorneys representing Binance US said in a court filing on Monday, quoted by Bloomberg. The lawyers ...

Bitcoin rose above the $26,000 level on Tuesday, as markets prepared for the latest U.S. inflation figures. Consumer prices for May are expected to fall to 4.1% — double the Federal Reserve’s 2% target. Ethereum remained below $1,800. Bitcoin Ahead of the upcoming inflation report in the United States, bitcoin ( BTC ) moved back above the $26,000 level. Following a low of $25,686.04 to start the week, BTC /USD raced to a peak of $26,261.14 earlier today. The move saw bitcoin near a recent resistance level at $26,300, which is one of the last hurdles stopping bulls from moving towards $27,000. In order to get towards this level, a ceiling on the relative strength index (RSI) will also need to be broken. This is the 47.00 level on the indicator, and as of writing, price strength is currently tracking at 44.02. The 10-day (red) moving average will need to also shift course, and divert away from its current downward path. Ethereum Additionally, ethereum ( ETH ) moved marginally h...

A recent poll conducted by the Cato Institute and public opinion firm Yougov reveals that the majority of Americans are hesitant to adopt a central bank digital currency (CBDC). The findings indicate that support for a CBDC remains relatively low among survey respondents. U.S. CBDC Support Remains Low: Survey Highlights American Hesitation In late May 2023, the Cato Institute, a public policy research organization, and Yougov, a public opinion and data firm, unveiled a survey examining American attitudes toward the potential introduction of a CBDC. From February 27 to March 8, 2023, they polled 2,126 individuals, inquiring about their stance on a CBDC under various circumstances. For example, one question asked participants whether they would endorse or oppose a government-issued CBDC if it allowed the government to monitor all purchases. Just 13% expressed full support for this type of CBDC, while 68% were thoroughly opposed. Approximately 20% remained uncertain and expressed no...

CryptoGames , a well-known online crypto casino , is making waves in the online gambling industry with the launch of its revitalized VIP program and a high stakes wagering competition. These new initiatives promise cryptocurrency gambling enthusiasts a new era of exhilarating challenges and rewarding experiences, raising the bar in online casino gameplay. Challenging Monthly Wagering Contest The monthly wagering competition hosted by CryptoGames offers players a thrilling gambling environment. Kicking off on the first day and wrapping up on the last day of every month, participants compete to move up the leaderboard by making bets on games using their preferred coin. Players can monitor their positions on the real-time leaderboard and adjust their strategies accordingly. The wagering contest allows gamers to test their skills along with an opportunity to ascend the ranks of the elite. The top five performers in the Bitcoin and Ethereum leaderboards, the top three in the Litecoin ...