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CoinFLEX co-founders, Sudhu Arumugam and Mark Lamb have issued a release revealing plans to move forward with arbitration. After two weeks of near silence, the troubled crypto trading company now seeks to recover $84 million worth of debt from a client.  CoinFLEX Founders Proceed With Legal Action Last month, CoinFLEX put withdrawals on hold after one user’s account entered negative equity. The company became the umpteenth in a series of crypto outfits that had done the same thing. In a…

A recent MLIV Pulse survey has shed light on the sentiments of Wall Street traders regarding the future of the world’s biggest crypto Bitcoin. Considering Bitcoin’s recent struggles, several Wall Street investors expect the leading crypto to rather sink to $10k support than rising soon. Few Expect a Recovery MLIV’s new study warns Bitcoin bulls and expects the bearish period to probably last longer than earlier predicted. Over the past few months, crypto prices have continued to fall, the bearish…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $926 billion. Bitcoin has increased by nearly 10% this week. Ethereum gained almost 11% over the past seven days. XRP is up by nearly 4% this past week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector added over $0.5 billion to the total value protocols (TVL), now…

Despite CEO Changpeng Zhao stating potential risks, customers of the world's leading exchange Binance have expressed firm support for the platform’s zero-fee trading. Zero-Fee Trading to Pose Certain Challenges Earlier this week Binance implemented a zero-fee trading feature across 13 spot BTC trading pairs. With this move, the company gained yet another edge over its competitors and unsurprisingly earned favor with its users. Eligible swap combinations include BTC/BUSD, BTC/EUR, BTC/USDC, and BTC/USDT among others. Investors in various sectors and particularly…

Compass Mining is the next crypto company to succumb to falling crypto prices and macroeconomic uncertainty. The firm’s co-CEOs sent a letter to investors on Thursday confirming that it had laid off 15% of staff. In addition to staff cuts, Compass will also implement compensation and spending reductions across the rest of the business. “While painful, these changes will enable Compass to stay agile and well-positioned in this evolving market, which has challenged many of our industry peers,” stated the…

Lael Brainard – Vice Chairwoman of the Federal Reserve – said the latest crypto market bloodbath “highlights the urgent need” for industry regulation. She claims it must begin to comply with existing financial regulations, mirroring the views of the Securities and Exchange Commission (SEC).  Ensuring Financial Stability Brainard made her comments during a speech at the Bank of England Conference in London on Friday.  “Future financial resilience will be greatly enhanced if we ensure the regulatory perimeter encompasses the crypto…

Following the supreme court’s decision to overturn Roe v. Wade, some activists are turning to Web3 to rally support for women’s reproductive rights.  Of late, several community members have joined the fight by campaigning to generate funds and draw attention to the cause. Web3 Offerings Find a Place in Women's Rights On June 24, the US Supreme Court overturned the critical case that previously protected women’s rights to have an abortion. Since the historical ruling two weeks ago, flurries of…

As shown by data from Dune Analytics, OpenSea, the world’s top platform for non-fungible tokens, recently blacklisted a handful of big-name collections. Altogether, the marked collectibles are worth roughly $27 million. OpenSea Flags Tokens Late  Thursday, an on-chain sleuth called beetle put up a dashboard on Dune outlining relevant information regarding the blacklist. Indeed, the list featured the Bored Ape Yacht Club as well as offshoots Mutant Apes and the Bored Ape Kennel Club. Other marked projects include CloneX, Azuki,…

Troubled crypto lending platform Celsius Network is facing fraud charges in a New York state court. Reuters reported this news on July 7, noting that KeyFi Inc brought these charges against the firm. Specifically, the plaintiff accuses Celsius of running a Ponzi scheme for personal gain. KeyFi Inc, which is run by Jason Stone - a former Celsius investment manager - claims Celsius used customer deposits to rig the price of its native token, CEL. Citing “gross mismanagement of customer…