Many of the sports star’s millions of friends, followers, and defenders are said to have been told to trade with the Binance platform. Cristiano Ronaldo, a world-renowned soccer player, is facing a class action lawsuit in Florida that aims to sue him for more than $1 billion in damages stemming from his association with the cryptocurrency exchange Binance. The complaint states that Binance was operating unlawfully in the US and offered securities that were not registered. The article states that Ronaldo used his famous status to attract investors and bring in visitors to the site. Adam Moskowitz, the plaintiffs’ attorney, claimed that “the binding legislation… throughout the nation, regulating mass advertising of bitcoin and unregistered securities, was recently clarified and overturned. He said that the new rules meant that “promoters like Cristiano Ronaldo, who have a financial interest in doing so for themselves or for the benefit of the securities issuer (Binance) financially, can be held liable under securities laws for using the internet and social media to call for a lot of cryptocurrency.” Binance is accused of many infractions in the case, such as running an unlicensed clearing agency and exchange, not reporting suspicious activities, and not having anti-money laundering measures in place. The cryptocurrency exchange Binance paid more than $4 billion in fines associated with these actions in early November. Ronaldo reaped financial benefits by directing traffic to Binance, according to the plaintiffs, who also claim that he should have known his advertising may have been unlawful. According to their claims, Ronaldo’s advertising was seen by over 100 million Binance users across various platforms, including TV and social media. “The lawsuit states that Ronaldo’s promotions encouraged his millions of followers, fans, and supporters to invest with the Binance platform, which in turn solicited investments in unregistered securities,” according to the statement. In November of last year, Ronaldo collaborated with Binance to launch his first NFT collection, “CR7,” in anticipation of the 2022 FIFA World Cup. The seven animated digital sculptures that made up the premium NFT series immortalized key events in Ronaldo’s remarkable career. An classic posture from Ronaldo’s childhood in Portugal, a breakthrough trick move (like his famous stepover), or a career-defining bicycle kick goal—all were featured on each rare NFT. Prices for the digital treasures started at around $77 and went all the way up to $10,000. An additional perk for new Binance users who used his promo code was a “CR7 Mystery Box” that may hold one of two unique NFTs. For every kind of NFT, there were 777,777 available.

Who doesn’t like free stuff? Well, those who like cryptocurrency can get their freebies, too. A number of websites offer free cryptocurrency to consumers, and all it takes to get started is a bit of initiative.  With crypto’s penchant for price swings, you may get more than you bargained for. And some sites may also offer cash or NFTs, which could be transformed into crypto. Here’s how you can earn free cryptocurrency and what to look for. Sign Up With An Exchange Lots of crypto exchanges will put some crypto in your wallet if you sign up as a client (just as brokerages will give you cash if you sign up as a client.) You may want to pick the best available option, although it could be worth your time to earn them all.  The good news is that this is among the safest options if you’re looking to score free coins, though you’ll need to put up some yourself. Some of the exchanges offering free crypto include Coinbase, Gemini, and Crypto.com  From time to time other exchanges add promotions or provide time-sensitive bonuses, so stay on the lookout for those additional opportunities. Crypto Staking Staking your crypto can help you earn a continual source of income, and that can be especially advantageous if you’re a long-term buy-and-hold investor or looking to stack up some coins. The rewards vary from coin-to-coin, but those for more speculative coins tend to be higher. Some cryptocurrencies use a “proof-of-stake” protocol to validate and manage their decentralized system.  That gives those who own the digital currency a chance to participate as a validator and earn income through staking their coins. You’ll support the infrastructure, get to hold your coin while doing so and even earn some income, too. The Securities and Exchange Commission has challenged some staking programs as being unregistered securities offerings, which are illegal. Kraken agreed to end its staking program in early 2023 as part of a settlement with the SEC. See Also: Industry Expert Travis Kling Calls Justin Sun a Criminal, Urges His Removal From Crypto Free NFTs A non-fungible token, or NFT, is a kind of digital asset or artwork. Technically, NFTs aren’t cryptocurrency, but you can trade them for crypto quickly. So how do you get free NFTs in the first place? There are giveaways for those, too. If you’re on the hunt for NFTs, you have a couple good avenues. First, many new crypto projects offer NFTs as a type of “invite bonus” to their top supporters.  You could follow a new crypto on its Discord channel with the hope of participating in an invite bonus pool for the people who drive the most traffic to the channel. Another alternative is to search Twitter regularly for NFTs giveaways, which may be offered for retweeting and promoting the project itself. A retweet could get you a chance to win an NFT. Of course, NFT giveaways can create some tax issues, so be aware of those. Learn and Earn Some websites offer you the chance to learn about cryptocurrency and earn a little bit of it at the same time. You may need to watch some videos, take a short quiz and pass to earn the bonus. Coinbase Earn is one site that offers rewards for learning about crypto, but others such as CoinMarketCap.com also provide an opportunity to rack up free rewards. The thing with these “learn and earn” promos, however, is that you may not always get the cryptocurrency you want. The Securities and Exchange Commission sued Coinbase in June 2023, alleging it had illegally operated as an exchange, broker-dealer and clearing agency, and offered and sold unregistered securities.  The lawsuit said Coinbase knowingly violated securities laws that are designed to protect investors. Coinbase said it would continue to operate its business as usual. Crypto Savings Account Looking to combine an easy way to earn interest with cryptocurrency?  A crypto savings account lets you earn interest on your holdings while you continue to enjoy their potential rise. And the initial interest rates you receive can be much better than with traditional banking accounts. One option here is Crypto.com’s savings account, which offers a tiered-rate structure. That means the more you have deposited, the lower your interest rate.  High-flying coins such as Bitcoin and Ethereum may offer an annual return of a few percent, whereas stablecoins might offer several percent higher interest, helping to make those a more attractive place to hold your money. Crypto Lending Take your cryptocurrency game to the next level and lend money to borrowers and earn interest on the transaction. It’s called decentralized finance, or DeFi, and you can use the power of digital currency and decentralized apps to earn money through peer-to-peer lending. Regardless of which lending platform or currency you use, however, you’ll want to be careful that the potential borrower can repay the money you’ve lent. Additionally, it may make sense to fund many smaller loans or fund them in connection with other lenders, to help reduce the risk. If you go this route, however, it’s important that you work with a well-established platform. Get Cash From A Brokerage Even a few traditional brokerages offer promotions from time to time. However, these bonuses are typically paid in U.S. dollars, but then could be converted immediately to crypto on the platform. Is that reaching too much on the premise of this article?  Maybe, but you’ll end up with crypto in your wallet all the same. One place to begin here is eToro, which operates as a crypto exchange in the U.S., though it’s a traditional broker in other countries. The broker offers a referral bonus to you and your friend if your friend signs up and makes a deposit. Other traditional brokers that offer crypto trading such as TradeStation may run promotions from time to time, too. Then just trade cash for crypto. Participate In An Airdrop The developers of a new cryptocurrency may do an airdrop – a giveaway – of their new coin in order to hype it and generate more interest and excitement around it. You may have to do a few things to have the potential of receiving new coins, such as follow the crypto project on social media, track it on a Discord channel or otherwise support the project. However, it’s worth noting that many airdrops are scams and, even if they do deliver you some coins, those coins may end up being worthless. That worthlessness may be good for tax purposes – since you won’t owe much, if any, taxes – but it does nothing for your wealth. Crypto Credit Cards If you already have regular cash-back credit cards, it can be easy to make the leap to crypto rewards cards and enjoy crypto in exchange for your purchases. These credit cards may offer rewards on purchases in the form of Bitcoin or other popular altcoins. And other spending bonuses may be available as well. One option here is the credit card from Gemini. Of course, the same caveats apply to these cards as they do other credit cards: Don’t run up a huge credit card bill trying to get the relatively modest rewards. See Also: Dogecoin Boasts of 5M Addresses, 168,000 Daily Active Addresses, Indicating Massive Adoption Take Surveys It sounds a bit like an old internet game with a new trick: Take a survey and get some cash. But this time, the cash is crypto. And that’s what some sites allow you to do these days. One entrant here is Freecash, which offers up surveys, games or other paid offers every day. While you can get your payouts in cryptocurrency, you could also take them as dollars or even gift cards. The site may feel a bit too “bells and whistles,” but you can still earn free crypto. Browse The Web Looking for a crypto that you earn while you browse the web? The Brave browser may be for you. You’ll earn the Basic Attention Token cryptocurrency for using the browser as long as you have the Brave Rewards program turned on. Brave blocks the typical ads and cookies, but still gives you the option to see some ads in exchange for cryptocurrency. The program is available in most countries, and the company shares 70 percent of ad revenue with users, it says. Payouts are made once a month. It’s something you’re doing anyway, so maybe it makes sense to get paid to browse. Watch Out For Scams The world of cryptocurrency is already rife with scams, and the tales of crypto scams have already been legion for years. That situation can even be worse in the world of free giveaways. That’s because scammers love to prey on those looking for a giveaway on the next big thing. So it pays to be on your guard when you’re looking for free cryptocurrency. Some crypto scams such as airdrops or initial coin offerings (ICOs) have high potential to be total frauds.  Run away from any promotion that asks for your login credentials or private keys to a crypto wallet. Meanwhile, ICOs may have you trade your legit coins for a coin of dubious value. As usual, if the freebie sounds too good to be true, it probably is. Conclusion  If you’re looking to earn free cryptocurrency, you have a number of options, from the usual suspects at brokerages and exchanges offering freebies to the unusual, such as airdrops and surveys. As you work through your free options, however, make sure you’re working with a reputable partner or it just may be them who gets your cryptocurrency for free. Disclaimer: Investors are advised that past investment product performance is no guarantee of future price appreciation. Bitcoinworld.co.in holds no liability for any action made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. The post How To Earn Free Cryptocurrency appeared first on BitcoinWorld.

Coinbase, a major cryptocurrency exchange, has informed certain users about a subpoena it received from the U.S. Commodity Futures Trading Commission (CFTC). The subpoena relates to another crypto exchange, Bybit. This information, initially emerging from emails circulated by Coinbase and subsequently posted on social media platforms, has been confirmed by a person familiar with the situation in communication with The Block. Regulatory scrutiny in the crypto industry The content of the email from Coinbase to its users underscores the regulatory complexities facing cryptocurrency exchanges. According to the email, Coinbase is obliged to respond to the subpoena unless a motion to quash or an objection to the subpoena is filed with the court by November 30, 2023. This move may involve Coinbase disclosing information regarding user accounts to the CFTC. The CFTC, which possesses the authority to conduct investigations through various means, including subpoenas, has not commented on the matter. Similarly, Bybit, led by CEO Ben Zhou and headquartered in Dubai, has declined to comment. Coinbase’s policies, as outlined in a May post, require the exchange to collect and disclose information in response to legal obligations. This includes compliance with laws, regulations, law enforcement requests, governmental and other legal requisitions, court orders, and disclosures to tax authorities. The current situation with the CFTC subpoena falls under this policy framework. Wider context of regulatory actions This development is part of a broader trend of regulatory actions targeting the cryptocurrency industry. Recently, PayPal, the payments giant, disclosed that it received a subpoena from the U.S. Securities and Exchange Commission (SEC) concerning its PayPal USD stablecoin. This indicates an increasing interest and scrutiny by federal agencies in the activities of cryptocurrency firms. Coinbase itself is not new to regulatory scrutiny. In June, it faced a lawsuit from the SEC, alleging illegal operation as an exchange, broker, and clearing agency. This lawsuit came in the wake of similar charges against Binance, which also included accusations of misleading customers and inappropriate handling of capital linked to former CEO Changpeng Zhao. In conclusion, the subpoena received by Coinbase from the CFTC in relation to Bybit is a significant event in the cryptocurrency world. It not only reflects the regulatory challenges faced by major exchanges but also indicates the broader trend of heightened oversight in the digital currency domain. The outcome of this subpoena and its implications for Coinbase, Bybit, and the wider cryptocurrency market will be closely watched by industry participants and regulators alike.

Who doesn’t like free stuff? Well, those who like cryptocurrency can get their freebies, too. A number of websites offer free cryptocurrency to consumers, and all it takes to get started is a bit of initiative. With crypto’s penchant for price swings, you may get more than you bargained for. And some sites may also offer cash or NFTs, which could be transformed into crypto.Here’s how you can earn free cryptocurrency for visiting sites and what to look for.How to earn free cryptocurrency: 11 easy ways1. Sign up with an exchangePlenty of crypto exchanges will put some crypto in your wallet if you sign up as a client (just as brokerages will give you cash if you sign up as a client.) You may want to pick the best available option, although it could be worth your time to earn them all. The good news is that this is among the safest options if you’re looking to score free coins, though you’ll need to put up some yourself.Some of the exchanges offering free crypto include the following: #Coinbase #Gemini #Crypto.com From time to time other exchanges add promotions or provide time-sensitive bonuses, so stay on the lookout for those additional opportunities.2. Crypto stakingStaking your crypto can help you earn a continual source of income, and that can be especially advantageous if you’re a long-term buy-and-hold investor or looking to stack up some coins. The rewards vary from coin-to-coin, but those for more speculative coins tend to be higher.Some cryptocurrencies use a “proof-of-stake” protocol to validate and manage their decentralized system. That gives those who own the digital currency a chance to participate as a validator and earn income through staking their coins. You’ll support the infrastructure, get to hold your coin while doing so and even earn some income, too.The Securities and Exchange Commission has challenged some staking programs as being unregistered securities offerings, which are illegal. Kraken agreed to end its staking program in early 2023 as part of a settlement with the SEC.3. Free NFTsA non-fungible token, or NFT, is a kind of digital asset or artwork. Technically, NFTs aren’t cryptocurrency, but you can trade them for crypto quickly. So how do you get free NFTs in the first place? There are giveaways for those, too.If you’re on the hunt for NFTs, you have a couple good avenues. First, many new crypto projects offer NFTs as a type of “invite bonus” to their top supporters. You could follow a new crypto on its Discord channel with the hope of participating in an invite bonus pool for the people who drive the most traffic to the channel.Another alternative is to search Twitter regularly for NFTs giveaways, which may be offered for retweeting and promoting the project itself. A retweet could get you a chance to win an NFT.Of course, NFT giveaways can create some tax issues, so be aware of those.4. Learn and earnSome websites offer you the chance to learn about cryptocurrency and earn a little bit of it at the same time. You may need to watch some videos, take a short quiz and pass to earn the bonus.Coinbase Earn is one site that offers rewards for learning about crypto, but others such as CoinMarketCap.com also provide an opportunity to rack up free rewards. The thing with these “learn and earn” promos, however, is that you may not always get the cryptocurrency you want.The Securities and Exchange Commission sued Coinbase in June 2023, alleging it had illegally operated as an exchange, broker-dealer and clearing agency, and offered and sold unregistered securities. The lawsuit said Coinbase knowingly violated securities laws that are designed to protect investors. Coinbase said it would continue to operate its business as usual.5. Crypto savings accountLooking to combine an easy way to earn interest with cryptocurrency? A crypto savings account lets you earn interest on your holdings while you continue to enjoy their potential rise. And the initial interest rates you receive can be much better than with traditional banking accounts.One option here is Crypto.com’s savings account, which offers a tiered-rate structure. That means the more you have deposited, the lower your interest rate. High-flying coins such as Bitcoin and Ethereum may offer an annual return of a few percent, whereas stablecoins might offer several percent higher interest, helping to make those a more attractive place to hold your money.6. Crypto lendingTake your cryptocurrency game to the next level and lend money to borrowers and earn interest on the transaction. It’s called decentralized finance, or DeFi, and you can use the power of digital currency and decentralized apps to earn money through peer-to-peer lending.Regardless of which lending platform or currency you use, however, you’ll want to be careful that the potential borrower can repay the money you’ve lent. Additionally, it may make sense to fund many smaller loans or fund them in connection with other lenders, to help reduce the risk.If you go this route, however, it’s important that you work with a well-established platform.7. Get cash from a brokerageEven a few traditional brokerages offer promotions from time to time. However, these bonuses are typically paid in U.S. dollars, but then could be converted immediately to crypto on the platform. Is that reaching too much on the premise of this article? Maybe, but you’ll end up with crypto in your wallet all the same.One place to begin here is eToro, which operates as a crypto exchange in the U.S., though it’s a traditional broker in other countries. The broker offers a referral bonus to you and your friend if your friend signs up and makes a deposit. Other traditional brokers that offer crypto trading such as TradeStation may run promotions from time to time, too. Then just trade cash for crypto.8. Participate in an airdropThe developers of a new cryptocurrency may do an airdrop – a giveaway – of their new coin in order to hype it and generate more interest and excitement around it. You may have to do a few things to have the potential of receiving new coins, such as follow the crypto project on social media, track it on a Discord channel or otherwise support the project.However, it’s worth noting that many airdrops are scams and, even if they do deliver you some coins, those coins may end up being worthless. That worthlessness may be good for tax purposes – since you won’t owe much, if any, taxes – but it does nothing for your wealth.9. Crypto credit cardsIf you already have regular cash-back credit cards, it can be easy to make the leap to crypto rewards cards and enjoy crypto in exchange for your purchases. These credit cards may offer rewards on purchases in the form of Bitcoin or other popular altcoins. And other spending bonuses may be available as well.One option here is the credit card from Gemini.Of course, the same caveats apply to these cards as they do other credit cards: Don’t run up a huge credit card bill trying to get the relatively modest rewards.10. Take surveysIt sounds a bit like an old internet game with a new trick: Take a survey and get some cash. But this time, the cash is crypto. And that’s what some sites allow you to do these days.One entrant here is Freecash, which offers up surveys, games or other paid offers every day. While you can get your payouts in cryptocurrency, you could also take them as dollars or even gift cards. The site may feel a bit too “bells and whistles,” but you can still earn free crypto.11. Browse the webLooking for a crypto that you earn while you browse the web? The Brave browser may be for you. You’ll earn the Basic Attention Token cryptocurrency for using the browser as long as you have the Brave Rewards program turned on.Brave blocks the typical ads and cookies, but still gives you the option to see some ads in exchange for cryptocurrency. The program is available in most countries, and the company shares 70 percent of ad revenue with users, it says. Payouts are made once a month.It’s something you’re doing anyway, so maybe it makes sense to get paid to browse.Watch out for scamsThe world of cryptocurrency is already rife with scams, and the tales of crypto scams have already been legion for years. That situation can even be worse in the world of free giveaways. That’s because scammers love to prey on those looking for a giveaway on the next big thing.So it pays to be on your guard when you’re looking for free cryptocurrency. Some crypto scams such as airdrops or initial coin offerings (ICOs) have high potential to be total frauds. Run away from any promotion that asks for your login credentials or private keys to a crypto wallet. Meanwhile, ICOs may have you trade your legit coins for a coin of dubious value.As usual, if the freebie sounds too good to be true, it probably is.Conclusion If you’re looking to earn free cryptocurrency, you have a number of options, from the usual suspects at brokerages and exchanges offering freebies to the unusual, such as airdrops and surveys. As you work through your free options, however, make sure you’re working with a reputable partner or it just may be them who gets your cryptocurrency for free.Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. $BTC $ETH $BNB

✋LAST WORDS of CZ : Emotional 😭 💪CEO Transition at Binance: A Strategic Move ✍️Reflections and a New Leadership Era 👉Stepping Down: Emotional Yet Necessary Today marks my departure as the CEO of Binance, a decision not taken lightly. Emotionally challenging, yet imperative for the community, Binance, and personal growth. Acknowledging mistakes and embracing responsibility is the foundation for a new chapter. 👉Binance's Evolution: A Maturing Entity** Binance has outgrown its infancy. It's time to let it flourish independently. Announcing @_RichardTeng, former Global Head of Regional Markets, as the new CEO, a leader with a wealth of financial services and regulatory experience. 👉Richard Teng: A Visionary Leader Takes Charge Introducing Richard Teng, the new CEO, with over three decades of experience in pivotal roles, including CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market and Chief Regulatory Officer of the Singapore Exchange. 👉Next Phase: Emphasis on Security, Transparency, and Growth Under Richard's leadership, Binance will prioritize security, transparency, compliance, and continued growth. The company is poised for the next phase of its journey. 👉Continued Support and Involvement As a shareholder and former CEO, I commit to remaining available for consultation, aligning with U.S. agency resolutions. My focus shifts to a well-deserved break, followed by strategic investments and potential coaching or mentoring roles. 👉Resolution with U.S. Agencies: Clearing Misconceptions Highlighting that Binance's resolutions with U.S. agencies do not allege misappropriation of user funds or market manipulation. User funds are secured. 👉Congratulations Richard: A Well-Deserved Promotion Join me in congratulating Richard on his elevation to CEO. The future looks promising, and I eagerly anticipate witnessing the continued success under new leadership. 👉Onwards to the Next Chapter........... @CZ #CZBNB #RichardTeng

Recently, the cryptocurrency industry has been marked by significant regulatory and leadership changes. Changpeng Zhao, the CEO of Binance, has stepped down following a $4.3 billion fine and criminal charges from the US government, signaling a major shift in the crypto exchange landscape. This all comes as the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) turn up the heat on crypto, keeping a close eye on what's going down in that world.  The SEC has filed a lawsuit against Kraken for operating as an unregistered securities exchange, broker, dealer, and clearing agency. In the market, Bitcoin is showing signs of strength, approaching the $38,000 mark, with potential to rise further. Ethereum's Layer-2 Blast, despite withdrawal restrictions, has generated significant buzz and investment. Additionally, developments in DeFi, business alliances, and technology advancements, such as Kucoin's new payment integration and Circle's 'Bridged USDC Standard', are shaping the future of digital finance.  It's clear that the crypto landscape is constantly evolving, sort of like a surfer riding wave after wave, navigating regulatory hurdles and shifting market conditions. Amidst this, ScapesMania (MANIA) is carving out a niche as a presale project to keep an eye on. This project stands out with its promise of more predictable trends, offering a stark contrast to the often volatile nature of the cryptocurrency landscape.  Unleash the Future of Crypto with ScapesMania While some crypto projects are facing uncertainty, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project's appeal. Presale is Live Now – Join Now for a Chance to Benefit with MANIA Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead. Presale Is Live: Learn More About It and Its Major Benefits Polkadot (DOT) Price Analysis Polkadot (DOT) has shown a mixed performance in recent times. Over the past month has brought a notable increase of 26%. However, the six-month performance indicates a minor decline of 3%. Year-to-date, DOT has gained 22%, and its one-year change is relatively flat at 0.26%. Over a five-year period, DOT has grown by 69.69%, with an all-time increase of 153%. Currently, Polkadot's market capitalization is at $6.593 billion. The oscillators present a mostly neutral stance with the Relative Strength Index at 42.74 and the Commodity Channel Index suggesting a buy action at -183.39. The MACD Level, however, indicates a sell action at -0.00178. Moving averages are predominantly signaling sell, with the 10-day and 20-day Simple Moving Averages (SMA) at $5.33 and $5.34, respectively. However, the longer-term 100-day SMA at $5.23 and $200-day SMA at $5.24 indicate potential for long-term growth. Polkadot (DOT) Price Forecast Considering the mixed signals from oscillators and moving averages, DOT's future price movement appears uncertain. If DOT can overcome its immediate resistance level, currently near the pivot point of $5.44, it could target higher resistance levels at $6.33 and potentially $7.21. This bullish scenario would be supported by positive developments within the Polkadot ecosystem and broader market sentiment. Conversely, if DOT fails to hold its current level and falls below its immediate support at $4.55, it could test lower support levels at $3.66. This bearish trend could be exacerbated by negative market conditions or specific setbacks within the Polkadot network. Polygon (MATIC) Price Analysis Polygon (MATIC) has experienced a decline of 8% over the past week, although it has seen a 20% increase in the past month. The six-month performance shows a decrease of 16%. Year-to-date, MATIC's change is minimal at 0.25%, but the one-year performance indicates a decline of 9.92%. However, over a five-year period, MATIC has seen an extraordinary growth of 14212.98%, with a whopping all-time increase of 29,934%. The market capitalization of Polygon stands at $7.047 billion. The oscillators for MATIC are mostly neutral, with the Relative Strength Index at 31.11. The Commodity Channel Index suggests a buy action at -214.64, while the MACD Level indicates a sell at -0.00286.  The short-term moving averages indicate a bearish trend, while the long-term averages suggest potential for growth. Specifically: The 10-day Simple Moving Average (SMA) stands at 0.7897, signaling a sell. The 20-day SMA is at 0.8196, also indicating a sell. Moving to the 30-day SMA, it's at 0.7682, maintaining the sell signal. However, the longer-term averages shift the perspective. The 50-day SMA is at 0.6831, suggesting a buy. The 100-day SMA further supports this bullish outlook at 0.6125. The 200-day SMA, at 0.6749, aligns with the buy signal. The short-term bearish trend is evident in the recent sell signals, while the long-term perspective remains bullish, as indicated by the buy signals in the longer-term moving averages. Polygon (MATIC) Price Forecast Given this mix of short-term bearish and long-term bullish signals, MATIC's future price movement could be volatile. If MATIC can overcome the bearish sentiment reflected in the short-term averages and leverage the positive long-term outlook, it might target the resistance level at $0.87; then aim for higher levels at $1.08 and possibly $1.28. This optimistic scenario would likely depend on positive market sentiment and successful developments within the Polygon ecosystem. However, failing to do so could see MATIC testing lower support levels, as indicated by the short-term moving averages. If MATIC fails to breach its immediate resistance level at $0.87, it could face downward pressure towards support levels at $0.66 and potentially $0.46. This bearish outlook could be influenced by broader market downturns or challenges specific to the Polygon network. Wrapping It Up The cryptocurrency landscape is currently undergoing a significant transformation, marked by regulatory changes and shifts in leadership within major crypto entities. The price analysis of Polkadot (DOT) and Polygon (MATIC) reveals a complex picture. DOT's mixed signals from oscillators and moving averages suggest an uncertain future, with potential for both growth and decline depending on market conditions and developments within the Polkadot ecosystem. Similarly, MATIC shows a divergence between short-term bearish and long-term bullish signals, indicating a volatile path ahead. These analyses underscore the ever-changing and speculative nature of the cryptocurrency market, where investor vigilance and adaptability are key. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

US crypto regulators have had a field day nay week with the notorious Binance-head Changpeng Zhao finally locked in the DOJ’s crosshairs and the SEC pursuing legal action against Kraken. Let’s find out more.  Bitcoin After Wednesday’s large gains in the crypto market, Bitcoin is once again knocking on the door of $38,000. A breakthrough here could see the way clear to $48,000. Grayscale has submitted an updated spot Bitcoin ETF prospectus following a meeting with the Securities and Exchange Commission (SEC).  Pro-Bitcoin Javier Milei has won Argentina’s presidential run-off election, held on the 19th of November, after his opponent Sergio Massa conceded defeat.  Ethereum Despite withdrawals being shut until March, Ethereum Layer-2 Blast has created unprecedented hype on social media and has seen over $225 million in staked ETH (stETH) and stablecoins deposited since Monday.  DeFi DeFi aggregator Kinetex has successfully concluded a strategic funding round, where it secured funding from Gnosis Chain and Factor to perfect its cross-chain trading approach by incorporating zero-knowledge (Zk) technology.  Technology Crypto exchange Kucoin is enabling payments across traditional and crypto networks with its new Kucard. Circle, the force behind the widely adopted USDC stablecoin, has introduced a groundbreaking development with the launch of its new 'Bridged USDC Standard.'  Business BBVA Switzerland forges a strategic alliance with Ripple-owned Metaco to build its digital asset operations via the latter’s Harmonize platform.  The Silvergate Capital Corporation has announced the full repayment of Silvergate Bank’s remaining deposit liabilities.  Ripple, makers of the XRP cryptocurrency and ledger tech stack, has announced a new partnership, which it has formed with Uphold, a Web3 financial platform specializing in liquidity management. Changpeng Zhao is reportedly signing off and stepping down from his role as Binance’s CEO following a $4.3 billion fine on the crypto exchange alongside criminal charges from the U.S. government Brian Armstrong, CEO of Coinbase, called Binance co-founder Changpeng Zhao’s resignation an opportunity to start a new chapter for the crypto industry.  Liechtenstein-based cryptocurrency exchange Bittrex Global has announced that it will suspend all operations by the 4th of December as it prepares to shut down following a bruising battle with the SEC. Technology giant Apple Inc. faces a class action lawsuit filed by Venmo and Cash App users for allegedly abusing its market power to curb competition for mobile peer-to-peer (P2P) payments, leading to inflated fees.  Stablecoin issuer Tether has frozen $225 million worth of stolen USDT following a collaboration with the United States Department of Justice and crypto exchange OKX.  Web3 Crypto gaming giant Animoca Brands is set to expand its Web3 Frequent Player Program by incorporating Ubisoft's highly anticipated NFT game, Champions Tactics: Grimoria Chronicles. Security HTX, formerly known as Huobi Global, plans to resume its services within 24 hours following a massive hack that saw the exchange lose an estimated $30 million.  Mastercard will combine its crypto intelligence solution with Feedzai’s RiskOps platform in order to identify fraudulent transactions before they occur. KyberSwap has become the latest decentralized exchange to fall victim to a hack, with the attacker draining nearly $50 million from the DEX aggregator.  Cryptocurrency fintech firm Kronos Research has confirmed the news of a hack, where the attackers had somehow gained access to the company's API keys and made off with various crypto assets. Regulation  The co-founder of cryptocurrency exchange Kraken, Jesse Powell, has applauded the US Department of Justice (DOJ) for the crackdown on Binance and its CEO Changpeng Zhao (CZ).  The DOJ is seeking over $4 billion from Binance Holdings as it looks for a resolution to a year-long investigation into the exchange and its operations. The SEC has sued cryptocurrency exchange Kraken for operating as an unregistered securities exchange, broker, dealer, and clearing agency.  Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

😭 LAST WORDS of CZ : Heartbreaking 💔 🎯 CEO Transition at Binance: A Strategic Move ✍️Reflections and a New Leadership Era 😭Stepping Down: Emotional Yet Necessary Today marks my departure as the CEO of Binance, a decision not taken lightly. Emotionally challenging, yet imperative for the community, Binance, and personal growth. Acknowledging mistakes and embracing responsibility is the foundation for a new chapter. 👉Binance's Evolution: A Maturing Entity** Binance has outgrown its infancy. It's time to let it flourish independently. Announcing @_RichardTeng, former Global Head of Regional Markets, as the new CEO, a leader with a wealth of financial services and regulatory experience. 👉Richard Teng: A Visionary Leader Takes Charge Introducing Richard Teng, the new CEO, with over three decades of experience in pivotal roles, including CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market and Chief Regulatory Officer of the Singapore Exchange. 👉Next Phase: Emphasis on Security, Transparency, and Growth Under Richard's leadership, Binance will prioritize security, transparency, compliance, and continued growth. The company is poised for the next phase of its journey. 👉Continued Support and Involvement As a shareholder and former CEO, I commit to remaining available for consultation, aligning with U.S. agency resolutions. My focus shifts to a well-deserved break, followed by strategic investments and potential coaching or mentoring roles. 👉Resolution with U.S. Agencies: Clearing Misconceptions Highlighting that Binance's resolutions with U.S. agencies do not allege misappropriation of user funds or market manipulation. User funds are secured. 👉Congratulations Richard: A Well-Deserved Promotion Join me in congratulating Richard on his elevation to CEO. The future looks promising, and I eagerly anticipate witnessing the continued success under new leadership. 👉Onwards to the Next Chapter........... #RichardTeng #cz_binance #CZAndBinanceForLife #BinanceSquareTalks

Top Stories This Week US officials announce $4.3B settlement with Binance, plea deal with CZ Binance and its co-founder, Changpeng CZ Zhao, have reached a settlement over criminal and civil cases with the United States Department of Justice. CZ will plead guilty to one felony charge as part of the negotiated agreement. Attorney General Merrick Garland announced the settlement, claiming Binances policies allowed criminals involved in illicit activities to move stolen funds through the exchange. As part of the settlement, CZ announced on X (formerly Twitter) that he had stepped down as CEO and that Binances global head of regional markets, Richard Teng, will assume the position. He added he was proud to point out that U.S. officials didnt allege that Binance misappropriated funds or manipulated markets. CZ was released on bail and is battling government efforts to bar his return to the United Arab Emirates to be with his family. His sentencing is scheduled for February. BlackRock met with SEC officials to discuss spot Bitcoin ETF Representatives from BlackRock and Nasdaq met with the U.S. Securities and Exchange Commission (SEC) to discuss the proposed rule allowing the listing of a spot Bitcoin exchange-traded fund (ETF). BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. Many reports have suggested the SEC could be nearing a decision on a spot BTC ETF for listing on U.S. markets. SEC officials also met with Grayscale representatives this week to discuss the listing of a Bitcoin ETF. BlackRock is one of many firms with spot crypto ETF applications in the SEC pipeline awaiting a response, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise. Bitcoin user pays $3.1M transaction fee for 139 BTC transfer A Bitcoin user paid $3.1 million in fees for transferring 139.42 BTC. The transaction fee is the eighth-highest in Bitcoins 14-year history. A wallet address tried transferring 139.42 BTC only to pay more than half the actual value of the transaction fee. The destination address received only 55.77 BTC. The mining pool Antpool captured the absurdly high mining fee on block 818087. This is the largest Bitcoin transaction fee ever paid in dollar terms, knocking off Paxos’s September transfer of $500,000. SEC sues Kraken alleging its an unregistered exchange, mixes user funds The U.S. Securities and Exchange Commission has sued Kraken, alleging it commingled customer funds and failed to register with the regulator as a securities exchange, broker, dealer and clearing agency. Additionally, the SEC alleged Krakens business practices and deficient internal controls saw the exchange commingle up to $33 billion worth of customer assets with its own. The SEC said this resulted in a significant risk of loss for its clients. In a follow-up blog post, Kraken said the SECs commingling accusations were no more than Kraken spending fees it has already earned, and the regulator doesnt allege any user funds are missing. Appeals court rejects Sam Bankman-Frieds bid for release Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction. Government prosecutors accused Bankman-Fried of leaking Caroline Ellisons journals to The New York Times in July, which caused his bail to be revoked by a New York District Court. Bankman-Fried was found guilty of seven fraud and money laundering-related charges on Nov. 2. The former FTX CEO will remain behind bars while he awaits his sentencing on March 28 next year. Winners and Losers At the end of the week, Bitcoin (BTC) is at $37,710, Ether (ETH) is at $2,079, and XRP is at $0.62. The total market cap is at $1.43 trillion, according to CoinMarketCap. Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Blur (BLUR) at 99.25%, FTX Token (FTT) at 39.05% and KuCoin Token (KCS) at 24.82%.  The top three altcoin losers of the week are Celestia (TIA) at -19.89%, ORDI (ORDI) at -17.63% and THORChain (RUNE) at -15.53%.For more info on crypto prices, make sure to read Cointelegraphs market analysis. Read also Features AI has killed the industry: EasyTranslate boss on adapting to change Asia Express Hong Kong crypto frenzy, DeFi token surges 550%, NBA China NFTs Asia Express Most Memorable Quotations The U.S. has a financial regime that basically has been weaponized. Charles Hoskinson, founder of Cardano I made mistakes, and I must take responsibility. Changpeng CZ Zhao, former CEO of Binance We, the employees of OpenAI, have developed the best models and pushed the field to new frontiers, [but] the process through which you terminated Sam Altman […] has jeopardized all of this work and undermined our mission and company. OpenAI employees Get your crypto company out of the U.S. warzone. Jesse Powell, co-founder of Kraken The regulatory uncertainty that permeates the U.S. market is having an impact on the rest of the world. Oliver Linch, CEO of Bittrex Global Im looking forward to returning to OpenAI and building on our strong partnership with Microsoft. Sam Altman, CEO of OpenAI Prediction of the week Enjoy sub-$40K Bitcoin PlanB stresses $100K average BTC price from 2024 Bitcoin buyers should enjoy the chance to add to their stack below $40,000, according to PlanB, pseudonymous creator of the stock-to-flow family of BTC price models. He believes Bitcoin will rise much higher than its recent 18-month highs. Bitcoin bear market bottoms are characterized by the spot price dipping below the realized price, while bull markets begin once the spot crosses the two-year and five-month realized price levels. BTC/USD is now once again above all three realized price iterations. Enjoy sub-$40k bitcoin … while it lasts, PlanB commented on an accompanying chart. Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028 Bitcoins next halving cycle. FUD of the Week HTX to restore services within 24 hours after $30M hack Crypto exchange HTX, formerly known as Huobi Global, resumed deposits and withdrawals within 24 hours after suffering a $30 million exploit on Nov. 22. The exploit was reported to be $13.6 million around the time of the incident, but has since increased in value. HTX’s hot wallets were compromised alongside a coordinated $86.6 million attack against the HTX Eco (HECO) Chain bridge, consisting of HTX, Tron and BitTorrent. The company has promised to fully compensate users for any losses incurred as a consequence of the hack. CZ an unacceptable risk of flight, should stay in US: DOJ United States prosecutors are trying to stop former Binance boss Changpeng CZ Zhao from leaving the country, expressing concern about his potential flight risk. The government requested a review and overturn of a judges decision that would allow Zhao to return to his home in the United Arab Emirates (UAE) on a $175 million bond under the condition that he returns to the U.S. two weeks before his February 2024 sentencing. In a proposed order, prosecutors wrote that Zhao presents an unacceptable risk of flight, arguing that his ties and favored status in the UAE, along with the countrys lack of an extradition treaty with the U.S., are reasons to block him from leaving the country. KyberSwap hacker offers $4.6M bounty for return of $46M loot The decentralized exchange KyberSwap has offered a 10% bounty reward to the hacker who stole $46 million on Nov. 22 and left a note of negotiation. The exchange wants 90% of the loot returned. The hacker made away with roughly $20 million in Wrapped Ether, $7 million in wrapped Lido-staked Ether and $4 million in Arbitrum tokens. The hacker then siphoned the loot across multiple chains, including Arbitrum, Optimism, Ethereum, Polygon and Base. Read also Features What the hell is Web3 anyway? Features Space invaders: Launching crypto into orbit Top Magazine Pieces of the Week This is your brain on crypto: Substance abuse grows among crypto traders According to some addiction experts, the high-stress atmosphere of cryptocurrency trading can provide a perfect environment for substance abuse. Michael Saylors a fan, but Frisby says bull run needs a new guru: X Hall of Flame Bitcoin enthusiast Dominic Frisby has a wild journey, from penning one of the first-ever Bitcoin books to plastering Bitcoin fixes this on the Bank of England. 6 Questions for Alex O’Donnell about financial journalism and the future of DeFi Alex ODonnell spoke to Cointelegraph Magazine about his career as a financial journalist and how it led to his involvement in crypto and Umami DAO. Subscribe The most engaging reads in blockchain. Delivered once a week. Email address SUBSCRIBE

✋LAST WORDS of CZ : Emotional 😭 💪CEO Transition at Binance: A Strategic Move ✍️Reflections and a New Leadership Era 👉Stepping Down: Emotional Yet Necessary Today marks my departure as the CEO of Binance, a decision not taken lightly. Emotionally challenging, yet imperative for the community, Binance, and personal growth. Acknowledging mistakes and embracing responsibility is the foundation for a new chapter. 👉Binance's Evolution: A Maturing Entity** Binance has outgrown its infancy. It's time to let it flourish independently. Announcing @_RichardTeng, former Global Head of Regional Markets, as the new CEO, a leader with a wealth of financial services and regulatory experience. 👉Richard Teng: A Visionary Leader Takes Charge Introducing Richard Teng, the new CEO, with over three decades of experience in pivotal roles, including CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market and Chief Regulatory Officer of the Singapore Exchange. 👉Next Phase: Emphasis on Security, Transparency, and Growth Under Richard's leadership, Binance will prioritize security, transparency, compliance, and continued growth. The company is poised for the next phase of its journey. 👉Continued Support and Involvement As a shareholder and former CEO, I commit to remaining available for consultation, aligning with U.S. agency resolutions. My focus shifts to a well-deserved break, followed by strategic investments and potential coaching or mentoring roles. 👉Resolution with U.S. Agencies: Clearing Misconceptions Highlighting that Binance's resolutions with U.S. agencies do not allege misappropriation of user funds or market manipulation. User funds are secured. 👉Congratulations Richard: A Well-Deserved Promotion Join me in congratulating Richard on his elevation to CEO. The future looks promising, and I eagerly anticipate witnessing the continued success under new leadership. 👉Onwards to the Next Chapter........... #RichardTeng #BTC

The U.S. Commodity Futures Trading Commission (CFTC) proposed a rule change Friday on how customer funds should be invested by firms the agency oversees – futures commission merchants (FCMs) and derivative clearing organizations (DCOs). But while crypto derivatives platform LedgerX – the former FTX subsidiary acquired in the bankruptcy by Miami International Holdings, Inc. (MIH) – is a DCO regulated by the agency, it occupies an unusual space as a clearing house that doesn't have FCM members in between itself and the customers, as has been longstanding practice in the industry. Friday's proposal, which details how regulated firms must only put customer assets into an expanded list of the most liquid of investments, doesn't consider "the context of a non-intermediated clearing model where the DCO offers direct client access to its clearing services, without the FCM as an intermediary," said CFTC Commissioner Kristin Johnson. "The derivatives market structure is significantly evolving, and it is imperative that the Commission’s regulations evolve in parallel," Johnson said. LedgerX has been bucking tradition, possibly most prominently, when it shook up the industry recently with its aborted push to directly settle margined crypto transactions for customers without intermediaries. The firm holds multiple registrations with the CFTC after agreeing to various special consumer protections, such as segregating assets. "Our current regulations do not reach the issues addressed by the conditions in the LedgerX order," Johnson said. "The Commission should consider regulation that closes this gap and ensures parallel retail customer protection for trading through intermediaries and non-intermediated DCOs." Friday's proposal, not open for a 75-day public comment period, was meant to be introduced at a Nov. 1 meeting, but the agency canceled that and moved forward with an internal vote. Read More: FTX's LedgerX Derivatives Exchange Sold to Miami International Holdings in Bankruptcy Auction

According to Cointelegraph: As the cryptocurrency market continues to experience rampant growth, the US Consumer Financial Protection Bureau (CFPB) is seriously considering the application of electronic fund transfer (EFT) laws to digital currencies. The aim is to curtail the prevalence of fraudulent crypto transfers and give users a safety cushion. The announcement was made by the director of the CFPB, Rohit Chopra, during an October 6th conference by the Brookings Institution think tank. The CFPB's consideration primarily revolves around understanding the applicability of the Electronic Fund Transfer Act (EFTA) vis-a-vis 'private digital dollars' and other virtual currencies. "To minimize the detrimental impacts of errors, hacking, and unauthorized transfers, we're contemplating the issuance of more guidance to market players. This would help answer questions about EFTA's relevancy to private digital dollars and other virtual currencies," Chopra stated. Introduced in 1978, the EFTA is a federal regulation devised to safeguard consumers when transferring funds via electronic modes like debit cards, ATMs, and banking transactions. Its primary focus is limiting consumer losses from unauthorized transfers. The EFTA mandates financial establishments to notify consumers before the occurrence of the maiden electronic transfer in an account, specifying if or when they may be held liable for unauthorized transfers. This potential move by the CFPB comes in the backdrop of a staggering 150% YoY surge in hacks attacking crypto platforms. The issue has gained further attention as the initial criminal trial against FTX co-founder, Sam Bankman-Fried, enters its second week, with allegations of unauthorized access and usage of customer funds. Additionally, the agency plans to issue orders to "specific major technology firms" to acquire details about their operational practices concerning personal data usage and private currency issuance. Non-banking establishments offering payment platforms will also come under the lens. The CFPB director further proposed that the Treasury's Financial Stability Oversight Council should categorize certain crypto functions as "systemically important payment clearing or settlement activities." This move could potentially provide other agencies with essential oversight and tools to ensure that a 'stablecoin' remains stable.        

According to Cointelegraph: The National Bank of Kazakhstan (NBK) has set up the National Payment Corporation (NPC) to oversee the development and implementation of the country's central bank digital currency (CBDC), the digital tenge. The new agency is a reorganization of the Kazakhstan Center for Interbank Settlements and is tasked with managing the national payment system, including money transfers, interbank clearing services, and digital identification. Aside from these duties, the NPC will also be in charge of developing "digital financial infrastructure," a significant part of which involves establishing the digital tenge. The development for the CBDC commenced in February 2023, with an expected launch in 2025. Berik Sholpankupov, the Deputy Governer of NBK, has emphasized the need for a "collaboration between traditional finance and DeFi," which could promote financial inclusion and bolster international trade. At present, the CBDC pilot initiative in Kazakhstan is at the stage of a controlled environment trial with genuine merchants and consumers participating. Binance, the world's leading cryptocurrency exchange, is among the primary partners for the CBDC project, offering technical support via its BNB Chain. In June, Binance made an announcement about its partnership with local Freedom Finance Bank to offer a regulated digital asset platform in Kazakhstan, which enables users to easily transfer fiat funds to their respective accounts on the platform.        

The most controversial case in the crypto world has been ongoing for years, and XRP Coin investors are not happy about it. The fact that the SEC has targeted Ripple has been suppressing the performance of XRP Coin for years. Now that the summary judgment has been ruled in favor of Ripple, the SEC continues its fight to turn the tide. So, what is the current situation? September 29th Ripple (XRP) Ripple Labs CEO Brad Garlinghouse recently shared the announcement of the Ripple Proper Party, a celebration event, shortly after the summary judgment. The community celebration event will take place on September 29, 2023, in New York, and registrations are currently open. Is it just that? Ripple aims to take the necessary steps for an IPO after the lawsuit. If there is any striking development, plan, or announcement regarding the lawsuit or IPO, we should expect to see it on September 29th. In the coming days, we may see speculations that Ripple will make an important announcement regarding the lawsuit or another matter at this event. This situation may trigger a price increase as well. As of the time of writing, the XRP Coin price is trading just below the critical $0.5 support level. As expected, the appeal application caused the price to drop, and the overall market sentiment supported the decline. Ripple Lawsuit Lawyer Lawyer John Deaton, representing XRP token investors, is certain that there will be no settlement announcement with the US SEC. The reason for this is that a settlement can only be triggered in the event of major developments in the Coinbase vs SEC case. In addition, the lawyer considers the possibility of an IPO weak because the IPO application falls within the jurisdiction of the SEC. “The SEC is requesting a preliminary injunction for the future corporate sales of XRP and a permanent injunction against the CEO and Chairman of the Board. From what I see, Ripple will not be approved for an IPO.” So what is the connection between the Coinbase case and Ripple? The SEC filed a lawsuit against Coinbase, the country’s largest cryptocurrency exchange, on the grounds that it operates as an unregistered broker, exchange, and clearing agency. This raised questions about how the institution could be charged with these after approving the IPO. Depending on the outcome of the Coinbase case, Ripple may also request approval for its own IPO, citing the Coinbase case as an example. $XRP