Donald Trump’s AI & Crypto Czar To host crypto event
The US President Donald Trump’s AI & Crypto Czar, David Sacks, has planned to host a conference on 4 Feb about Cryptocurrencies to explain how America will successfully secure its position as leader in this innovative space.
Bitcoin crashed to $91k level
Today (3 Feb) Bitcoin price crashed to $91k. The current trade price of Bitcoin is $98.5k & this price level is only 1% down over the last 7 days of trade price. The trade price graph of this top Cryptocurrency shows that confidence among the investors is very high. So here we may expect sharp increment in the trade price of cryptocurrencies in the next few days
Circle is killing competition unethically
Recently, Cardano founder Charles Hoskinson backed an allegation against the second top stablecoin issuer, Circle. As per allegations, Circle charges per year fees from the crypto projects in millions, but they push a policy to slowly shift the on-chain activity from rival blockchain to self-owned crypto project $SUI. Also, Circle faced accusations of lying with fake promises.
Hoskinson indirectly explained why the USDC stablecoin is not available on the Cardano blockchain network, obviously because of Circle’s bad game.
Coinbase users lost $65 million because of scams
Popular crypto detective ZachXBT shared his analysis on the Coinbase customers and noted that scammers are wise enough to easily spoof the Coinbase customers and easily manage them to transfer their funds from wallets to scammers’ wallets. ZachXBT alleged that Coinbase exchange failed to complete its promise of providing full security & safety to the customers.
A 5% crash in the US stock market expected
An expert from Goldman Sachs shared his analysis and claimed that the U.S. stocks could face a downfall of up to -5% in the coming months because of the hike in goods tariff by the Trump administration. The current situation is showing that the downfall in the stock market in Canada & Mexico could be temporary.
China to respond against Trump’s hike in tariff
As per reports, China is trying to ease tensions with the U.S. by suggesting a return to the “Phase 1” trade deal signed in 2020. As a part of the 2020 Phase 1 deal, China is offering to keep the value of its currency stable, invest more in the U.S., and restrict the export of chemicals used to make fentanyl. In simple words, we can say that currently, China is following baby steps to convince the U.S. to reduce or remove tariffs while showing a willingness to cooperate on economic and trade issues.
Binance against insider trading
Binance co-founder He Yi disclosed that the Binance crypto exchange fired more than 60 people from their jobs. Investigations found that these people were misusing their power to gain profit unethically. Alternatively, we can say that they were involved in insider trading. The exchange received $30 million in illegal gains that have been recovered.
Read also: 2 Major Reasons Behind the Big Bitcoin Crash: Trade War
