On Feb. 3, Binance released a post that acknowledged the ongoing “public debate” with Zanmai over its claims of Binance involvement in running WazirX. Binance said on Jan. 26 it had given WazirX the ultimatum of retracting its statements and continuing using Binance wallet services or terminating its usage.Continue Reading on Coin Telegraph More
MILAN (Reuters) -The European Central Bank can proceed “with the due caution” in tightening its monetary policy given that short-term inflation expectations dropped sharply and longer-term ones remain under control, a top policymaker said on Saturday.ECB Governing Council member Ignazio Visco, who is also the Bank of Italy’s governor, warned that an excessive tightening would have “serious implications” for economic activity and financial stability.He reiterated that he saw this as a risk that carried the same weight as the danger of a too gradual tightening.The ECB this week raised its key rate by 50 basis points to 2.5% and said it would replicate the move in March.”The policy tightening can now continue with the due caution, carefully assessing the implications for the economy and inflation prospects of the measures that have already been adopted,” Visco told the annual conference of Italy’s Assiom-Forex financial markets association.The ECB has kept its options open about subsequent steps after March, raising doubts among investors about its resolve to keep raising rates to tame inflation. Investors and economists have focused on a peak in the deposit rate of between 3.25% and 3.5%, which suggests just one or two moves after the March hike and an end by mid-year.In the text of his speech on Saturday, Visco said the bulk of corporate debts in Italy paid a floating interest rate, which exposed companies to the increase in borrowing costs.”Looking ahead, a significant increase in loan writedowns cannot be ruled out: … they could rise, in relation to total loans, from less than half a percentage point to nearly one point this year and in 2024,” he said, adding that was still half the peak reached in 2013-2014.For now, however, new inflows of impaired loans remained low at around 1% of total lending.Banking supervisors are monitoring specifically credit risks but also liquidity and refinancing risks, Visco said, adding there was a danger that higher rates fed into banks’ funding costs more rapidly than in the past. More
Taking time from a TV shoot in Sri Lanka, Draper met President Ranil Wickremesinghe and Weerasinghe to recommend Bitcoin as a viable option for getting out of financial problems. Continue Reading on Coin Telegraph More
Stephen “Coffeezilla,” a YouTuber and self-proclaimed internet detective, reportedly exposed Dillon Danis on Twitter by duping him into endorsing a fake NFT project. The website that Dillon promoted was a scam. Ironically, users who click on the sourznft.com link are presented with a gallery of screenshots detailing all of the scammy cryptocurrency campaigns Dillon has run in the past.Danis promoted the campaign by tweeting a digital image with a website URL that, as Coffeezilla puts it, “literally spells out S.C.A.M.” A closer look at the website reveals that the domain name was registered on February 1, 2023, which is often a key piece of information for determining the legitimacy of new ventures.In addition, the MMA competitor failed to consider a critical piece of information presented in the website’s frequently asked questions section, which clearly stated no investor could acquire the “Sourz” NFTs.…The post Youtuber Coffezilla Exposes MMA Fighter Dillon Danis’s Scam NFT Promotion appeared first on Coin Edition.See original on CoinEdition More
Popular on-chain detective ZachXBT announced on Twitter recently that his efforts to track and investigate Chase Senecal, a well known online phishing scammer had led to his assets being seized by the Federal Bureau of Investigation (FBI). The seized assets include NFTs, cryptocurrencies, and a luxury watch. All seizures were made in Brunswick (NYSE:BC), Maine.According to ZachXBT’s tweet, the FBI seized two NFTs, namely Bored Ape Yacht Club #9658, worth $95,495, and Doodle #3114. worth $9,361. In addition to the digital art, the bureau also seized 86.56 ETH valued at $116,433 at the time. An Audemars Piguet Royal Oak Watch worth $41,000 was also seized from Senacal. The combine…The post ZachXBT’s Scam Investigation Leads To $260k FBI Seizure appeared first on Coin Edition.See original on CoinEdition More
The price of the largest altcoin by market cap, Ethereum (ETH), is up 0.88% over the last 24 hours according to CoinMarketCap. ETH’s 24-hour gain has added to its positive weekly performance, which now stands at +3.96%. As a result, ETH is changing hands at $1,655.88 at press time.
Daily chart for ETH/USDT (Source: CoinMarketCap)The price of ETH was able to break above the key $1,700 level on 2 February 2023 – setting a daily high at $1,714.68. Talks of ETH rallying were quietened shortly thereafter as ETH closed the daily trading session at $1,643.12.Now, it looks as if ETH’s price is looking to cross above the $1,700 level again. Two technical indicators support this belief.The first technical indicator is the daily RSI indicator. At press time, the daily RSI line is positioned below the daily RSI SMA line. Although this is a bearish sign, the margin that exists between the two lines is negligible. This increases…The post ETH’s Price Will Likely Retrace Before Another Attempt at $1,700 appeared first on Coin Edition.See original on CoinEdition More
The flagship firm of Indian billionaire Gautam Adani’s empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd, AK Capital, JM Financial, and Trust Capital, but activity has now stopped, the report said, citing people familiar with the matter.Adani Enterprises called off its $2.5 billion share sale in a dramatic reversal on Wednesday this week, after a rout sparked by a U.S. short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks. The Indian markets regulator is already investigating the matter, including the crash in the company’s shares, any irregularities in the now-shelved share sale and any possible price manipulation, Reuters reported this week. A spokesperson for Adani Group did not immediately respond to Reuters request for comment. Edelweiss, AK Capital also did not respond to requests for comment, while JM Financial and Trust Capital could not be reached. A report by Hindenburg Research last week alleged improper use of offshore tax havens and stock manipulation by the Adani Group. It also raised concerns about high debt and the valuations of seven listed Adani companies.($1 = 82.2060 Indian rupees) More
Binance CEO Changpeng Zhao (CZ) has hinted at adopting one of Ray Dalio’s employee management systems, DOT. He said that while responding to Dalio’s Bitcoin criticism.CZ tweeted that he loves Dalio’s DOT employees’ rating system and would implement it at Binance. He counted the DOT system among several things that he could learn from the renowned hedge fund expert.Dalio criticized Bitcoin earlier this week, describing it as “a tiny thing that gets disproportionate attention.” He also called Bitcoin an ineffective store of wealth. Dalio said that Bitcoin has no relation to anything, and its value is less than one-third that of MSFT stock.The hedge fund manager’s Bitcoin criticism generated a lot of reactions from the cryptocurrency industry, including comments from CZ.Unl…The post Binance to Implement Bridgewater’s DOT Employees Rating System appeared first on Coin Edition.See original on CoinEdition More
