According to a Jan. 19 announcement by Binance, the cryptocurrency exchange has tightened its rules for nonfungible tokens, or NFT, listings. Starting Feb. 02, 2023, all NFTs listed on Binance before Oct. 2, 2022, and have an average daily trading volume lower than $1,000 between Nov. 1, 2022, and Jan. 31, 2023, will be delisted. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day. Binance NFT requires sellers to complete know-your-customer (KYC) verification and have at least two followers before listing on its platform. In addition to the revised rules, Binance …

In his latest blog post released on Jan. 19, Arthur Hayes, the former CEO of BitMEX exchange predicted a “global financial meltdown” thanks to future United States economic woes. Hayes: Crypto will "get smoked" in Fed pivot Bitcoin’s current rally should likely not be taken as the start of a new bull run. That is the opinion of Arthur Hayes, who in a fresh treatise on U.S. macroeconomic policy this week warned that current Federal Reserve behavior would flip from restrictive to liberal, but cause cryptoassets to “get smoked.” With U.S. inflation easing, the Fed is the focus of practically …

Are HD wallets safe? HD wallets are as secure as the medium (physical or digital) on which they are stored. BIP-32 enables an HD wallet to produce a tree-like hierarchical structure of private keys from the seed. As a result, if a device is lost or destroyed, the seed backup can be used to restore the wallet along with all of the tree’s private keys. Hierarchical deterministic wallets offer enhanced security and privacy compared to non-deterministic wallets. They are secure because a new address is issued for every new transaction. Therefore, hacking them is a challenging and intricate process. Additionally, …

Decentralized exchange (DEX) aggregator 1inch Network is the latest cryptocurrency platform to move into the hardware wallet industry amid the rise of self-custody. On Jan. 19, 1inch officially introduced the 1inch Hardware Wallet, a proprietary hardware wallet developed by an independent team working within the 1inch Network. In order to provide maximum security, the 1inch Hardware Wallet is “fully air-gapped,” meaning that it has no direct connection to the internet and does not require any wired connection. “All data is exchanged using QR codes or, optionally, with NFC,” 1inch said, noting that the 1inch Hardware Wallet also doesn’t have any …

In the wake of an eventful 2022 for the crypto space, many investors are now wondering what the future holds. Early this year, the crash course the Terra ecosystem went on sent the space into a downward spiral, sinking millions in investor funds in mere days. Most recently, one of the biggest centralized exchanges, FTX, filed for bankruptcy, also dragging down millions in customer assets. Such disastrous events have led a lot of crypto investors to start seeking protection and security, in the form of regulation. The crypto space is notoriously unregulated, but investors are suffering the consequences with losses …

Customers are suing Compass Mining for over $2 million, alleging fraud, after the company cut ties with Russian hosting company Bit River and failed to return customers’ Bitcoin machines, citing a non-applicable United States sanction as the reason. According to a court document filed on Jan. 17, Compass Mining issued a notice in April 2022 that it has terminated its “relationships and dealings with Bit River” due to the sanctions imposed by Executive Order 14024. It is alleged that Compass “did not offer” to return or even retrieve the assets that its customers entrusted the company with to host at …

Bitcoin (BTC) price climbed to a four-month high above $21,000 in the third week of January, relishing trader’s hope. The market has seen the most substantial investor optimism since July due to the January BTC price rebound. According to data shared by crypto analytic firm Santiment, the trading crowd sentiment has touched its highest in six months and second highest bullish sentiment in the past 14 months. The data indicates that traders are treating Bitcoin's price rebound as a signal of a possible bigger breakout in the near future. The term "crowd/investor sentiment" describes how investors generally feel about a …

The United States Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, has argued that Binance is linked to the illegal cryptocurrency platform Bitzlato. In an order published on Jan. 18, FinCEN stated that Binance cryptocurrency exchange was among the “top three receiving counterparties” of Bitzlato in terms of Bitcoin (BTC) transactions. According to the authority, Binance was among the biggest counterparties that received Bitcoin from Bitzlato between May 2018 and September 2022. Other such counterparties included Russia-connected darknet market Hydra and the alleged Russia-based Ponzi scheme known as “TheFiniko,” FinCEN noted. On the other hand, FinCEN did …

Ethereum (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September 2022. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark. If Ethereum price were to break above $1,600, it would return Ether to a top-60 global tradable asset, surpassing giant multinational companies like Nike (NKE), Novartis (NVS), Cisco (CSCO) and Toyota (TM). Unfortunately, at least for bullish traders, derivatives markets are not hinting that Ether will finally break the $1,600 resistance — at least, not until the U.S. …

The United States producer price index (PPI) fell 0.5% for the month, which was much more than the 0.1% decline estimated by economists surveyed by Dow Jones. The largest monthly decline since April 2020 was also aided by a sharp drop in energy prices. Another report showed that the retail sales data dropped 1.1% in December, a tad bit more than the anticipated 1% decrease. Although both data points show inflation is cooling off, the U.S. stock markets failed to hold on to their initial gains. Similarly, several cryptocurrencies sold off from their intraday highs, indicating that traders may have …

Cryptocurrency exchange Binance announced plans on Jan. 18 to enhance its local presence in Poland while remaining compliant with local regulations. Binance Poland sp. z o.o., Binance’s Polish entity, will adhere to Polish regulatory standards for virtual asset service providers (VASPs), which requires Polish users to sign new terms and conditions with Binance Poland, in order to continue using the company's services. Witam, Poland #Binance is fully compliant with Polish regulatory standards for virtual asset service providers (VASPs). This registration enables #Binance to provide crypto asset exchange and custody services in the country. — Binance (@binance) January 18, 2023 Kyrylo …

Bitcoin (BTC) price and the wider crypto market corrected as news of coordinated “international cryptocurrency enforcement action” stirred up uncertainty among traders. Given the number of black swan events and the proliferation of crypto-oriented scams in 2022, most investors expect United States and global regulators to eventually lay down a strong hammer on centalized exchanges and other businesses connected with the crypto sector. At the time of writing, BTC price had dipped to an intraday low at $20,400, and Ether (ETH) gave back its daily gains to trade as low as $1,500. As shown by the charts below, the revelation …