Key Crypto News Highlights for December 29, 2023
Date: 2023-12-30 Author: Dima Zakharov Categories: IN WORLD
Cryptocurrency experts at CryptoRank have unveiled the most noteworthy news in the crypto world for December 29, 2023. These highlights shed light on the latest happenings in the digital currency space.
India's Crackdown on Unlicensed Crypto Exchanges:
India is actively taking steps to block the URLs of unlicensed cryptocurrency exchanges within its borders. This move reflects the ongoing regulatory efforts in the country to control the crypto industry.
Binance's Growing User Base:
Binance, one of the world's leading cryptocurrency exchanges founded by Changpeng Zhao (CZ) in July 2017, has seen its global user base grow to over 170 million accounts. This represents a remarkable 30% increase over the past year, highlighting Binance's widespread popularity and trustworthiness.
Legal Status of LUNA and MIR Tokens:
A court ruling has classified LUNA and MIR tokens, issued by the controversial Terraform Labs company, as securities. This decision has significant implications for the cryptocurrency market.
PancakeSwap's Token Supply Reduction:
The PancakeSwap community has approved a proposal to reduce the total supply of CAKE tokens by 300 million. This reduction, scheduled for January 4, 2024, will bring the total supply down from 750 million CAKE tokens to 450 million CAKE tokens.
Blast Protocol's Deposits Surge:
The total deposits in the Blast Protocol have reached a substantial 1.1 billion, indicating strong confidence in the protocol's capabilities.
Binance, renowned for its extensive range of services, including trading various digital assets, storage solutions, and payment systems, remains at the forefront of the crypto industry. The platform's success is attributed to its high liquidity, reliability, and diverse trading pairs.
Binance has also introduced its own cryptocurrency, Binance Coin (BNB), and continues to expand its ecosystem through Binance Launchpad and other innovative products and services.
Terraform Labs, the blockchain company behind Terra (LUNA) and TerraUSD (UST), has been a controversial figure in the crypto market. The company's actions, including the detachment of UST's value from the USD, had significant repercussions in the cryptocurrency market in 2022.
