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Loom Network price, market cap on Coin360 heatmap

Loom Network(LOOM)

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$0.053458
(4.45%)
0.00000220 BTC
Market Cap (Rank#324)
$69,494,837
2,854 BTC
Vol 24h
$2,287,201
93.9253 BTC
Circulating Supply
1,300,000,000
Max Supply
?
1 day agocointelegraph
Bitcoin drops to support as looming CPI print shakes up crypto and stock markets
Traders tuck their tails as this week’s CPI print approaches and BTC and ETH price fall back into range to test underlying support.
3 days agocointelegraph
Bitcoin likely to transition to a risk-off asset in H2 2022, says Bloomberg analyst
As the global economy moves into a recession in the second half of 2002, Bitcoin will likely rally alongside gold and treasury bonds, according to Mike McGlone, a senior commodity strategist at Bloomberg.
3 days agocointelegraph
Bitcoin price targets 8-week highs as Ethereum reaches $1.8K
Optimism and expectations increase around crypto markets, but U.S. inflation data looms large this week.
7 days agocryptodaily
Senator Warren attempts to stop banks engaging with crypto
Anti-crypto Senator Elizabeth Warren is currently whipping up support among senatorial colleagues to sign a letter to the OCC asking for banks to have a far tighter regulatory regime around their dealings with crypto companies. Senator Warren’s stance Senator Warren is well-known for her vehement dislike of the cryptocurrency industry. She has often called for more protections for investors, and also for the banking system, which she believes could suffer contagion from a potential crypto collapse. She appears to be determined to oblige the OCC (Office of the Comptroller of the Currency) to go back on its commitments, made during the Trump era, for banks to offer crypto services such as custody for their clients. A letter to the OCC According to a Bloomberg article earlier today on the subject, Warren wants the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC), to supersede the interpretations on banks holding stablecoin reserves, and replace them with a path towards “adequately protect[ing] consumers and the safety and soundness of the banking system.” The letter, of which a final version will be sent to the OCC soon, highlights how the TerraUSD collapse, together with the bankruptcies of several digital asset platforms “may have exposed the banking system to unnecessary risk”. The letter also seeks to underline what it perceives as the OCC’s failure to address these risks: “We are concerned that the OCC has failed to properly address the shortcomings of the preceding interpretive letters and the risks associated with crypto-related banking activities, which have grown more severe in recent months,” The letter closes with some questions, which include asking the OCC to name the regulated banks that are providing crypto-related services, and also an estimation of the amount in dollars that these activities encompass. Opinion That Senator Warren should be interested in protecting investors can only be applauded. However, if this means hobbling them with extremely restrictive regulations, and preventing them from interacting with crypto platforms is another thing entirely. That she should be concerned about keeping the banking system safe and sound though at the expense of cryptocurrencies is also a very debatable question. Obviously, the recent turmoil among certain cryptocurrency platforms does not inspire confidence, but given that this is such a nascent industry, these issues are bound to happen. The cryptocurrency industry has arrived precisely because of the dreadful dangers the legacy financial system is subjecting everyone to. What is happening in crypto markets is as nothing compared to the approaching systemic failure of banks and other financial institutions on a scale that can only be likened to Armageddon. Allowing banks to integrate with crypto platforms is one way that they might be saved. Otherwise, the course they are currently following will only lead to a complete financial breakdown, and the ensuing poverty and chaos that this would bring about. 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.
7 days agocointelegraph
Bitcoin may behave more like US Treasury bonds: Bloomberg Intelligence
Bitcoin markets will behave more like that of Treasury bonds and gold during market recovery, said the analysts.
9 days agocryptodaily
Embattled Crypto Lender Vauld Granted Three-Month Protection Against Creditors
Defi Payments Ltd, the parent company of the troubled crypto lending platform Vauld. Has been granted a short period of reprieve from creditors after being given a three-month moratorium by the Singapore High Court on Monday, August 1. It has been said that the moratorium will provide the company with the necessary breathing room to form an adequate restructuring plan. Defi Payments had initially requested a six-month moratorium but was reportedly denied by Justice Aedit Abdullah on Monday, citing concerns that an extended period of reprieve “won’t get adequate supervision and monitoring,” per a report by Bloomberg. The approved protection is said to last until November 7, 2022. The judge further highlighted that a further extension period may be possible but will be based on the assessment of the company’s progress in engagement with creditors. As it stands, Vauld owes more than $400 million to its 147,000 creditors – of the total, 90% percent originated from retail investor deposits. Under the moratorium, Defi Payments would be provided protections from wind-up resolutions, the appointment of a receiver or manager, and any legal proceedings that could be directed toward the company originating from any of its 147,000 creditors. Vauld has updated its website FAQs and said that the moratorium would provide the breathing room it needs to formulate a restructuring plan for the business to ensure a better outcome for its creditors, The moratorium is an important procedure to provide the company with the breathing room necessary for it to formulate and consider its options carefully. Without having been granted the necessary relief, it would be “highly unlikely” that creditors would even receive a fraction of their account’s worth, the company stated further. Vauld halted all customer withdrawals last month for its 800,000 customers, citing unfavourable market conditions and $200 million worth of withdrawals in less than two weeks. The protections of the moratorium will allow Vauld to come up with a restructuring proposal to explore options to revive the business. 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.
9 days agocoindesk
Hedge Fund Manager Steve Cohen Exits Crypto Trading Firm Radkl: Report
Hedge fund manager Steve Cohen has existed his investment in crypto trading firm Radkl, according to a report by Bloomberg Tuesday citing a spokesperson for the company.
10 days agocryptodaily
DeFi Project ChangeX launches its CHANGE token on Uniswap, HydraDEX to strong investor interest
Sofia, Bulgaria, 1st August, 2022, ChainwireDeFi project ChangeX has successfully launched its CHANGE token for trading on HydraDEX and Uniswap to strong investor interest, company officials said. The app supports several trading pairs in order to offer a broader range of possibilities to investors, BTC and ETH cross-chain swaps included. The CHANGE token launch comes after ChangeX successfully completed their ICO, defying bear market sentiment. The ICO resulted in close to $2M proceeds which will fund the company’s operations for at least 24 months, providing a solid financial starting point despite gloomy market conditions. CHANGE was introduced to the app on July 19 together with in-app staking and compounding of rewards, paid out in CHANGE. The staking APR on release day was in the 500% range without including compounding of staking rewards, which naturally made for a four-digit yield. The launch was met with strong demand, and in less than 24 hours 13.2 million tokens were sold on HydraDEX alone, while a total of 11.5 million were staked. Additionally, 1,87 million tokens were sold on Uniswap. “ChangeX is entering a very exciting stage and we’re very happy with the numbers. We’ve got the app up and running, the token is online and we’ve reached a very important milestone with staking now available.”, said ChangeX CEO Nikifor Iliev. “We aimed for a timely release according to our roadmap, and our developers have been working round the clock in order to reach deadlines and provide the beta version of the app to the community. All this was achieved in less than 6 months, and we’re all very proud of it.”, added Mr. Iliev. Both iterations of the token have surged in the days following the project's launch, disregarding bearish market conditions, which can be an indicator of the project's integrity and the strength of its community. “CHANGE and HYDRA are the essential building blocks of the future of ChangeX. All new features that we plan to add to the project will be built around them. A number of core functionalities will offer a myriad of possibilities that users can use to their advantage”, added Co-founder Gary Guerassimov. “All the additions we’ve planned for the future in our roadmap compliment each other and create an all-in-one app ecosystem that works on interoperability and simplicity. The end goal is a smooth and user-friendly app that offers unprecedented ease of access to DeFi, crypto, and traditional finance.” Q3 2022 will see delegated HYDRA staking come to ChangeX, granting users access to full-blooded staking without the need to set up a node, but with all the benefits that normally come with it. The developer team is also focusing on setting up the foundations for ChangeX’s open lending market and flagship Leveraged Staking product, which will offer margin positions on multiple staked assets in the app, amplifying yield by a factor of 1.2-2x. The other big thing for ChangeX is becoming an agent of an Electronic Money Institution (EMI) initially, and eventually obtaining its own license which will allow the company to issue IBANs to users, paving the way for the release of the ChangeX Crypto Debit Card. The card will work as standard bank cards do, allowing users to spend both crypto and fiat from within the app. “If​ we assume that​ Revolut was a 1st generation digital asset application, ​and Crypto.com a​ potential​ 2nd generation application, then ChangeX is making an attempt to establish itself as a 3rd generation application ​by harnessing the powerful DeFi products and making them readily available to retail users”, HydraChain Co-founder Nikola Alexandrov added, outlining the vision for ChangeX’s future. The ChangeX app is available on the Google Play Store for Android users and on the App Store for iOS. About ChangeX ChangeX is an all-in-one personal finance mobile app that merges traditional finance, crypto, and DeFi. ChangeX will offer users a personal bank account, access to multi-chain crypto, and high-APR DeFi tools such as Leveraged Staking, which could double the rewards on all staked assets. ChangeX’s focus falls on passive income and crypto empowerment, and the app will allow users to spend any in-app token on anything via its ChangeX Crypto Debit Card. Users will be able to lend their stablecoins, use locked and flexible staking, buy and pay with fiat, and swap crypto on multiple chains, with everything being accessible in a few simple clicks. Follow the project on Twitter and Telegram for more information and regular updates. The Team ChangeX founders Nick Iliev and Gary Guerassimov have a rich history in developing successful crypto and fintech products, among them xChange.bg - Bulgaria’s leading crypto exchange. HydraChain and LockTrip co-founders Nikola Alexandrov and Hristo Tenchev are also on board, each bringing seven years of blockchain experience to the project. The project’s CTO Martin Kuvandzhiev is one of the core developers at Bitcoin Gold - a hard fork of the source Bitcoin code, which brought decentralization back to retail traders and made mining via common GPUs possible again. The Advisers ChangeX’s advisory board features industry experts from some of the biggest names in crypto, DeFi, and finance. SoftBank Vision Fund’s Neil Cunha-Gomes, whose crypto investments include Consensys and Elliptic, has been working alongside seasoned experts Dimiter Gurdjilov and Stefan Ivanov in outlining the company’s strategy and vision. Dimiter Gurdjilov has more than 15 years of investment banking, private equity and business development experience from Merrilll Lynch, JPMorgan, George Soros’ Bedminster Capital, NBGI Private Equity, and Challenger Capital Management. Stefan Ivanov has 25+ years of experience at Citibank, Banque Paribas, and Challenger Capital Management, and has also served as the CEO of Citibank in Bulgaria. ContactsMarketing and Communications ManagerDimitar [email protected]
10 days agocoindesk
Hardware Wallet Maker Ledger in Talks to Raise Additional $100M: Report
Hardware wallet maker Ledger is seeking an additional $100 million in investment following its mammoth $380 million Series C funding last year, Bloomberg reported Monday.
11 days agocryptodaily
Crypto Weekly Roundup: Ethereum’s Goerli Merge, Miami’s NFT Project, Coinbase, Kraken Under Investigation, And More
U.S. regulatory bodies like the SEC and the Treasury Department are getting stricter towards crypto exchanges. While the crypto exchange Kraken is being investigated for alleged sanction violation, Coinbase is under the microscope for conducting digital asset trading, which the SEC might deem as securities. Let’s find out more. Bitcoin Despite still being a fair way underwater on its Bitcoin bet, El Salvador is looking to the future for its citizens, understanding that new technology takes time to be adopted. Ethereum ETH developers have been hard at work preparing for the final testnet merge, scheduled for early August. They recently announced the final details for the final testing phase of the Merge before the long-awaited official merge. Ethereum founder Vitalik Buterin addressed the upcoming Merge and talked about all the other network upgrades that would follow at a conference on Wednesday. DeFi A new governance protocol has nominated Jonathan Howard as the new CEO or ‘Head Chef’ at SushiSwap. However, the proposed pay package has sparked an outcry in the community. Uniswap’s community took a big step towards its “fee switch,” which could have significant implications for both the Uniswap protocol and all UNI token holders. Wonderland (TIME) founder Daniele Sestagalli has announced his return to DeFi with a disconcerting tweet. Altcoins Ava Labs president John Wu recently sat down for an interview with Anthony Pompliano and discussed what the future holds for Avalanche (AVAX). Technology A recent study forecasts exponential growth in metaverse real estate and estimates that the value invested in the sector will grow to more than $5 billion by 2026. Business The CEO of the KuCoin crypto exchange, Johnny Lyu, has announced his plans to launch a fund that will be targeted to tackle FUD (fear, uncertainty, and doubt) in the crypto market. Mexican food chain company Chipotle has launched a limited-time stock market manipulation game called “Buy The Dip,” which will give away $200,000 worth of cryptocurrencies. Regulation Senator Pat Toomey wrote a letter to SEC chairman Gary Gensler earlier this week, blaming the latter for his lack of regulatory clarity towards crypto companies, which resulted in billions of losses for American consumers. Shapeshift CEO Erik Voorhees advised FTX CEO Sam Bankman-Fried to not allow the sector to become entangled in the perverse and deeply corrupted legacy system. Formula 1 teams have been forced to comply with the laws of advertising in France, which prohibits displaying ads of crypto firms not registered with the AMF. The U.S. Treasury Department is investigating Kraken for suspected sanctions violations, which included allowing Iranians and others to transact digital assets on its platform. According to a Bloomberg report, the SEC is reportedly investigating Coinbase over whether it improperly allowed Americans to trade digital assets that should have been registered as securities. Lawmakers from both the Democratic and Republican parties introduced a crypto tax bill to the Senate that would exempt transactions under $50. NFT The city of Miami is embarking on a massive Web3 project, where it will partner with TIME, Mastercard, and Salesforce to launch over 5000 NFTs. Gary Vaynerchuk’s VeeFriends closed its seed funding round with a $50 million investment from investment firm Andreessen Horowitz (a16z). 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.
11 days agocointelegraph
Bitcoin due 'one of greatest bull markets' as July gains circle 20%
The future for Bitcoin price action may be much more bullish than the short-term charts, says Bloomberg Intelligence's Mike McGlone.
12 days agozycrypto
Australian Central Bank Governor Wants Private Sectors In Charge Of Crypto Assets Issuance
Recent times have seen a wave of calls for regulating the growing sector of cryptocurrencies due mainly to the astronomically increasing adoption rate, as investors and consumers seek protection over the looming economic downturn. In light of this, The Australian Central Bank chief has noted that it would be better for the crypto industry if […]
13 days agocryptodaily
El Salvador still happy to be early on the bitcoin technology train
In spite of still being a fair way underwater on its Bitcoin bet, El Salvador is looking to the future for its citizens, understanding that new technology takes time to be adopted. At the same time, the IMF is doing its best to derail the train as an extended fund facility is still not agreed. When El Salvador and its forward-looking president Nayib Bukele declared Bitcoin to be legal currency alongside the dollar, it would have been understood that many hurdles would have to be surmounted and that the country would have to endure a lot of criticism, especially from the legacy monetary system. However, the country and its unique currency system has endured, and given that bitcoin has rallied strongly over the last few weeks, there is perhaps some relief in the form of higher bitcoin prices that will give the El Salvadoran balance sheet a somewhat rosier glow. Bloomberg reported on an interview on Wednesday with the country’s finance minister Alejandro Zelaya. He said that bitcoin had brought financial services to a population that was mostly unbanked, although it was still not being used to any great degree. “For some, it’s something new and something they don’t entirely understand, but it’s a phenomenon that exists and is gaining ground and will continue to be around in the coming years.” Nevertheless, he said that the government believed in the path it was on and that it still wanted to issue a bitcoin-backed bond. Be that as it may, the downward plunge in the bitcoin price has definitely led to the $1 billion bitcoin-backed bond being put onto the back-burner until things improve. Thus far, El Salvador has purchased 2,381 bitcoins, which are worth around 50% less than the average price of when they were bought. According to Zelaya though, the government was still going to move forward on plans to construct its “Bitcoin City”, plus there will be other bitcoin projects announced in the coming months. Of his country’s embrace of new technology, Zelaya said: “I believe in the traditional, international monetary system just as I believe that new technologies are going to help human beings in the future. So, I think making that transition is vital and it would be wrong of us to not pursue financial innovation that could benefit El Salvador.” 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.
13 days agocryptopotato
Axie Infinity CEO Reportedly Withdrew Funds Before Revealing Ronin Hack
Bloomberg said the CEO of Axie Infinity moved $3 million worth of AXS before revealing the massive hack against the platform.
13 days agozycrypto
Coinbase is Reportedly Facing an SEC Probe into its Cryptocurrency Listings
Coinbase is reportedly under investigation by the United States Securities and Exchange Commission (SEC) with regard to the exchange’s cryptocurrency listings, according to individuals with knowledge of the matter. The SEC is investigating Coinbase over possible securities listings Per a Bloomberg report, the SEC is investigating whether or not Coinbase deliberately listed digital assets that […]
14 days agocoindesk
French Lawmaker Calls for Crypto Committee as Legal Questions Loom
A new Senate grouping is needed to educate lawmakers about the risk of crime using virtual assets, the Centrist Union’s Nathalie Goulet told CoinDesk.
14 days agocryptodaily
No More Crypto Ads At French Grand Prix
Formula 1 teams have been forced to comply with the laws of advertising in France, which prohibits displaying ads of crypto firms not registered with the AMF. Advertising Laws Cripples Crypto Advertisement With the French Grand Prix looming in the distance, Formula 1 teams have been flaunting their crypto sponsorships and brand deals by openly displaying their ads. This included decals with the logos of these crypto sponsors. However, the French authorities have dictated that the teams must comply with the country’s stringent advertising laws. In France, any crypto firm wishing to advertise itself must register as a . Therefore, many F1 teams have had to take down crypto ads and logos of crypto partners from their race cars. France has always had stringent laws about advertising. Despite being one of the most welcoming countries for crypto adoption, the law still decrees that in order to advertise their services or products in the country, all crypto firms should be registered as a Digital Assets Services Provider (DASP) with the Autorité des Marchés Financiers (AMF), the financial authority of the country. Teams And Their Crypto Sponsorships Eight of the ten teams that entered the French Grand Prix had one or multiple partnerships with crypto companies. All of them were instructed to rework the branding on their cars, the team outfits, racing gears, and other items to eliminate any mention of cryptocurrencies. For example, the Alfa Romeo F1 team has removed the branding for its partners - cryptocurrency Floki Inu and crypto lender Vauld from all displayable surfaces for the French Grand Prix. The team explained its decision to do so, saying, “The team is complying with all French regulations with regard to crypto partner advertising on the car. We have been advised that, in order to display a cryptocurrency partner logo in France, the cryptocurrency brand must be registered at the AMF, which is not the case for two of our cryptocurrency partners.” Another team participating in the race, Red Bull Racing, had partnered with Tezos to build an NFT fan experience. Due to the French advertising restrictions coming into the light, the Red Bull Racing team has also had to involve its legal team and bring the matter to the attention of its crypto partners. Crypto.com And F1 However, the most noteworthy of all crypto partnerships involved in the matter is the sponsorship deal between F1 and Crypto.com, which has been a global partner for the racing series since July 2021. The crypto exchange was also the title sponsor of the recently held Miami Grand Prix. However, the company has disclosed that it has decided not to utilize its branding rights for this leg of the competition. The spokesperson for Crypto.com also added, “But it remains F1’s global partner and we expect such rights to be leveraged in other ways at future races.” 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.
14 days agocryptopotato
IMF: Limited Impact From Crypto Crash But Global Recession Likely
The IMF has played down the impact of the crypto market crash on global financial stability but warned of more gloom and uncertainty ahead.
15 days agocryptodaily
IMF Claims Crypto Sell-Off Won’t Impact Broader Financial Stability
In a July 26 report, the International Monetary Fund (IMF) refuted the idea that the crypto losses of the past few months will spill over to traditional finance. Instead, it leans towards fears of recession, geopolitical conflict, and inflation as major risks. The IMF has long been vocal about its stance on cryptocurrencies and has worked hard to undermine the value of digital assets. However, as the crypto winter enters its fifth month, the IMF is unconcerned. In a report published on Tuesday, the IMF has clearly stated that the cryptocurrency market downturn poses no threat to global financial stability. The IMF’s Financial Stability Board said in the report that instead Russia’s invasion of Ukraine and ongoing COVID-19 lockdowns have dealt a heavy blow to the global financial system. In this dire economic climate, the IMF views inflation, and a recession as substantial dangers, but not the volatility in the crypto market. The fund’s current statements contradict its earlier sentiments. In 2019, Christine Lagarde, then head of the IMF, said that cryptocurrencies have an unmistakable impact on the financial system and are upending the banking sector. In 2021, the fund also said that digital assets threatened global financial stability and called for a globally coordinated response to regulation. According to the IMF’s “Gloomy and More Uncertain” report, Crypto assets have seen a major sell-off that has resulted in large losses in crypto investment vehicles and the failure of algorithmic stablecoins and crypto hedge funds, but so far the impact on the larger financial system has been limited. Credit contagion has spread in the crypto market over the past few months forcing crypto companies such as Three Arrows Capital and crypto lender Celsius into bankruptcy proceedings. Threats of a global recession drove numerous crypto investors to sell off their assets, regarded as risky investments, driving the price of Bitcoin as low as $17,000 in June, with most of the altcoin market following causing major issues with collateralised loans. The IMF however believes that the spillover of the crypto winter into the traditional financial market has been very limited, even though investors have realised catastrophic losses. The IMF’s current view does however contradict previous statements made. In a January 2022 report entitled “Cryptic Connections: Spillovers between Crypto and Equity Markets,” the fund stated that the prices of digital assets have begun correlating with stocks and were affecting global markets. 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.
15 days agocryptodaily
Coinbase Reportedly Facing SEC Probe Over Crypto Listings
Per a report by Bloomberg, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating Coinbase over whether it improperly allowed Americans to trade digital assets that should have been registered as securities after it expanded its line of crypto offerings last week. Regulatory scrutiny into the exchange has increased since Coinbase expanded the number of digital tokens it offers for trading. Along with that, Coinbase suffered heavy blows last week when a former product manager, along with two others was charged with insider trading in the first such case involving cryptocurrencies. The charges have been brought forward by the Department of Justice and the SEC and allege that the former employee tipped his brother and friend on crypto assets due to be listed on the exchange. The SEC filed additional securities fraud charges against the accused, saying that nine digital assets involved in the alleged insider trading were securities. Coinbase maintains that it does not list securities on its platform, with the company’s chief legal officer Paul Grewal stating that “We 100% disagree with the SEC’s assertion that any of the crypto assets we list are securities.” Grewal continued to say, None of these assets are securities. Coinbase doesn’t list securities. Period. Grewal elaborated that Coinbase has a process that analyses and reviews all digital assets before they are made available on the exchange – a process that the SEC has reviewed. We are confident that our rigorous diligence process—a process the SEC has already reviewed—keeps securities off our platform, and we look forward to engaging with the SEC on the matter, Grewal said. Coinbase is the largest U.S trading platform and lets users trade more than 150 tokens. SEC Chair Gary Gensler has previously said that Coinbase should register as a national securities exchange due to some of its listed cryptocurrencies. Should one of those products be deemed securities, the firm would need to register as an exchange with the SEC to remain operational. The cryptocurrency platform has previously asked the regulator to develop rules that work for digital asset securities. 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.
16 days agocoindesk
Sports Picked up the Web3 Ball. Now It’s Ready to Run
Blockchain technology has multiple applications in sports, including managing the likeness rights of amateur athletes under new rules from the NCAA, says Heirloom's Joseph Bradley.
16 days agocryptodaily
Binance CEO Sues Bloomberg Subsidiary For Defamation
The charges have been brought against Bloomberg’s Modern Media Company over a cover piece that allegedly defamed Binance CEO Changpeng Zhao (CZ). CZ Cries Defamation Bloomberg’s Hong Kong partner, Modern Media Company, ran the 250th issue of the Bloomberg Businessweek, with the cover piece titled “Changpeng Zhao’s Ponzi Scheme.” According to the Hong Kong Economic Times (HKET), this is the cover piece title that pushed CZ to file charges of defamation against Modern Media Company. According to CZ’s legal team, the influential nature of the publication has resulted in distress and embarrassment due to the negative public image portrayed by the cover piece. The legal representative for the crypto billionaire has also claimed that the title is an attempt by Bloomberg to spur “hatred, contempt, and ridicule” towards Changpeng Zhao. Accusations And Demands The legal case demands that the media company withdraw the defamatory comments against CZ and a formal apology and financial compensation, including damages. In addition, CZ has demanded a retraction, which would also remove the edition's physical copies from all newsstands and stalls. The lawsuit also calls for a restraining order to stop the Bloomberg team from further attempting to defame the Binance CEO. Zhao and his legal team have also separately filed a motion for discovery against Bloomberg LP and Bloomberg Inc. in the U.S District Court for the Southern District of New York, claiming “defamatory allegations.” The motion claims that the article portrayed Binance as “sketchy” and also featured a quote from an anonymous trader calling the crypto exchange a “massive s**tcoin casino” in an attempt to malign the company. CZ Gets His Way The allegations have not been directly addressed by either CZ or Binance. However, it appears that Bloomberg had taken certain steps to mitigate the issue even before the lawsuit was filed. The media company has reportedly changed certain versions of the offending title to read “The Mysterious Changpeng Zhao.” Additionally, the English version of the cover features a title reading “Can Crypto’s Richest Man Stand The Cold?” Currently, only the Chinese edition of the cover still features the contentious title. This is not the first time Changpeng Zhao has taken a publication to court over defamation claims. The crypto billionaire had sued Forbes in 2020 over a piece that accused the firm of evading regulators and siphoning off money. However, the charges were dropped soon enough, and Binance announced a $200 million investment in Forbes a year later. 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.
16 days agocryptopotato
Binance CEO CZ Sues Bloomberg Businessweek for Defamation
Changpeng Zhao started a legal battle against Bloomberg's subsidiary in Hong Kong because the latter accused him of managing a Ponzi scheme.
16 days agocryptodaily
Sam Bankman-Fried bullish on Latin American crypto adoption
Sam Bankman-Fried has turned his gaze to Latin America, saying that he sees big potential for the adoption of cryptocurrencies, and especially remittance payments. He also believes that regulation would be good for the crypto sector in that it would bolster institutional confidence. Bankman-Fried was attending the Bloomberg Crypto Summit in New York last Tuesday. He gave an interview to the Spanish language platform Bloomberg Linea. Latin American interest The billionaire entrepreneur and CEO of crypto exchange FTX, said that he was interested in the region of Latin America, and that he had had dialogues with potential partners. “I don’t think there is anything concrete at the moment, but we would love to do it and we have been talking with potential partners in Latin America.” He said that his company had been looking at how “regulated offers would be carried out in markets such as Brazil, Mexico, [and] in other countries of the region.” General crypto adoption in the region was another area of interest for Bankman-Fried, and he saw much potential for remittances and payments. “I think that the volume is going to increase over time and that we are going to see more and more adoption for remittances in Latin America, and that it is going to start being used for payments as well.” The future for crypto It’s Bankman-Fried’s view that central bank digital currencies (CBDCs) and stablecoins will begin to play more of a prominent role in many countries, but he thinks that they won’t necessarily replace fiat currencies. On NFTs he acknowledges that they have engendered a great deal of enthusiasm given the “large number of potential use cases” they bring, although he also saw challenges for their “long-term sustainability. He said: “I think what excites me the most is that there are really cool integrations with other online sites, but I think they’re going to come and it’s just a matter of time. I think it’s going to take some soft reset to get there, but I think we’ve already started to see this happen.” 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.

About Loom Network

The live price of Loom Network (LOOM) today is 0.053458 USD, and with the current circulating supply of Loom Network at 1,300,000,000 LOOM, its market capitalization stands at 69,494,837 USD. In the last 24 hours LOOM price has moved 0.00297 USD or 0.06% while 2,346,164 USD worth of LOOM has been traded on various exchanges. The current valuation of LOOM puts it at #324 in cryptocurrency rankings based on market capitalization.

Learn more about the Loom Network blockchain network and how it works or follow the price of its native cryptocurrency LOOM and the broader market with our unique COIN360 cryptocurrency heatmap.

LOOM is an ERC20 token that serves as a native currency on the Loom Network platform. The Loom Network is a service built on top of Ethereum that allows developers to run large-scale decentralized applications. LOOM is a network of DPoS sidechains, which allows for highly-scalable games and user-facing DApps while still being backed by the security of Ethereum. You can check out the latest Loom Network price on Coin360. Find LOOM price graphs, market capitalization and the latest news about the LOOM coin on Coin360.com.


Loom Network Price0.053458 USD
Market Rank#324
Market Cap69,494,837 USD
24h Volume2,287,201 USD
Circulating Supply1,300,000,000 LOOM
Max SupplyNo Data
Yesterday's Market Cap67,310,744 USD
Yesterday's Open / Close0.048807 USD / 0.051777 USD
Yesterday's High / Low0.051842 USD / 0.04771 USD
Yesterday's Change
0.06% ( 0.00297 USD )
Yesterday's Volume2,346,164 USD
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