In cryptocurrency industry, Binance has taken the step of trimming its US workforce and implementing employee layoffs.

Binance, the world’s largest cryptocurrency exchange, is downsizing amid federal investigations. Dozens of employees have been terminated, with plans to reduce the US-based workforce, as reported by The Wall Street Journal.

Binance Lays Off Dozens of Employees With Plans To Trim US Workforce Amid Regulatory Pressure: Report

SEC Chairman Gary Gensler discusses cryptocurrency exchanges and spot Bitcoin ETF applications.

SEC Chairman, Gary Gensler expresses doubt on crypto exchanges amid ETF approval requests. Concerns raised over lack of regulation, potential risks to investors, such as trading against their own clients or acting as market makers

SEC claims Coinbase knew about potential securities law violations.

New court documents reveal that the SEC accuses Coinbase of knowingly violating securities laws and deliberately continuing its operations to fuel business growth.

SEC Says Coinbase Was Well Aware It May Have Been Violating Securities Laws: Court Docs

Microstrategy Stock Soars 7% After Berenberg Says Bitcoin Halving May Trigger Rally

Berenberg Capital Market believes that the fourth Bitcoin halving event could trigger a significant rally in the stock price of Microstrategy. Following this projection, Microstrategy’s share price saw a 7% increase. Berenberg has set a price target of $430 for Microstrategy’s stock (MSTR), which would represent an 18-month high.

Microstrategy Stock Soars 7% After Berenberg Says Bitcoin Halving May Trigger Rally

XRP flips BNB for first time in 2 years after court ruling

XRP surpasses Binance’s BNB in market cap ranking for the first time in over two years. After a New York judge ruled XRP sales were not securities, BNB’s valuation falls behind XRP’s $42 billion. XRP’s market cap was higher than BNB’s briefly in April 2021.

https://blockworks.co/news/xrp-flips-binance-bnb

What Is Cardano’s Hydra Pay, and How Does It Revolutionise Micro Payments?

Cardano is working on Hydra, a Layer-2 solution, to become the fastest and most scalable network. They are now focusing on Hydra Pay, a decentralised payment system that aims to revolutionise blockchain micropayments. Hydra Pay allows near-instant, secure, and low-fee transactions off-chain, while maintaining functionality and security comparable to the main chain. It prioritises consumer protection and throughput with its unique proxy address structure. Overall, Cardano aims to reshape the landscape of blockchain micropayments with Hydra Pay.

https://dailycoin.com/what-cardanos-hydra-pay-revolutionize-micro-payments/?utm_source=cryptopanic&utm_medium=rss

XRP Ruling a ‘Landmark’ Judgment, Weakens SEC’s Stance Against Crypto: Bernstein

A U.S. court ruling states that Ripple’s XRP token sold through exchanges or programmatic sales should not be considered a security, bringing relief to XRP holders. While institutional sales were deemed to violate securities law, the ruling reduces the securities overhang for tokens sold on exchanges, according to analysts at Bernstein.

https://www.coindesk.com/markets/2023/07/14/xrp-ruling-a-landmark-judgment-weakens-secs-stance-against-crypto-bernstein/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

US Inflation Data Released: Impact on Cryptocurrency

The US consumer price index data has been released, showing that the monthly increase was slightly lower than expected at 0.2% instead of 0.3%. The annual increase was also slightly lower than expected, at 3% instead of 3.1%. The core consumer price index, which excludes volatile food and energy prices, had the same monthly and annual increases as the overall index, with the monthly increase at 0.2% and the annual increase at 4.8%. The annual increase in the core index was slightly lower than expected, as the expectation was 5%.

BREAKING! US Inflation Data Announced! Here Is The Reaction Of Bitcoin And The Dollar!

Scammers have been using Coinbase’s domain name in significant attacks

Scammers have been targeting Coinbase users through scams and phishing attacks, using the exchange’s domain name. A recent incident involved a Twitter user receiving fraudulent texts and emails from scammers using the domain Coinbase.com. The scammer obtained personal information, including address, social security number, and driver’s licence number. Stay cautious and vigilant to protect yourself from such scams.