The latest cryptocurrency news is the main thing for July 14
Date: 2023-07-14 Author: Karina Ziganova Categories: BLOCKCHAIN
Multichain developers stopped the project
Cross-chain project Multichain (formerly. Anyswap) stops its work. According to the Multichain team, Chinese law enforcement agencies arrested the project's CEO, Zhao Jun, who was involved in the theft of more than $200 million from the project. In addition, law enforcement officers also confiscated all his equipment, which paralyzed the work of the project after the disappearance of its CEO.
Thus, Multichain turned out to be completely dependent on just one person. This once again highlights how excessive centralization harms cryptocurrency and blockchain projects.
In order not to fall into another trap in a rapidly changing market, carefully study projects before investing in them. In addition, also do not forget about the basic principles of financial literacy in order to protect yourself and your funds.
What else happened
The Legal Battle Is Not Over Yet: Ripple Continues Litigation with the SEC
Ripple Labs won a partial victory in a protracted confrontation with the US Securities and Exchange Commission (SEC). However, yesterday's verdict was not a clear victory for Ripple, as XRP sales to institutional investors can still be classified as securities transactions.
How the crypto community reacted to Ripple's victory over the SEC
Against the backdrop of the announcement of the court's decision, the crypto market went up. Representatives of the crypto community congratulated Ripple and felt that the ubiquitous SEC had lost its former grip.
The SEC may be under investigation due to a suspicious transaction
U.S. Congressman Richie Torres is asking for an investigation into the U.S. Securities and Exchange Commission (SEC). The reason for the proceedings was the decision of the SEC to grant a license of a special brokerage dealer (SPBD) to the digital asset trading platform Prometheum.
Binance is silent about the facts about the fraud from two years ago
Cryptocurrency exchange Binance came under scrutiny due to a rag pull in 2021, as a result of which users lost $15 million worth of BNB tokens.
How is the market doing?
The main cryptocurrency of the market, bitcoin (BTC), continues to move sideways. Today, it showed a slight drop, again dropping to the level of $30 thousand. The second largest cryptocurrency by capitalization, Ethereum (ETH), is trading just above $1900, also showing a decline.
Ripple (XRP) recouped its yesterday's explosive growth, showing a drop of almost 12%. XLM, on the other hand, showed an even more impressive decline, dropping by 17%.
Follow the current prices and movements of crypto assets in our cryptocurrency calculator.
