Claims about crypto exchange Huobi’s financial health and its executives’ legal entanglements have fueled market speculation over the weekend. Huobi has been witnessing continued outflows from its total locked-up value (TVL), dropping to $2.4 billion from a level of $3 billion in July. As reported by FX168 Financial News, there have now been rumors that The post Huobi insolvency rumors as USDT reserves decline on all exchanges except Binance appeared first on CryptoSlate.

Amid the evolving landscape of crypto regulation in the United States, financial technology company Revolut has announced it is “suspending” crypto services in the US. A Revolut spokesperson told CryptoSlate, the company, together with its US banking partner, will suspend access to cryptocurrencies for its US customers starting Sept. 2, 2023, specifically, “As a result The post US exodus continues as Revolut ‘suspends’ crypto access in country amid regulatory uncertainty appeared first on CryptoSlate.

Leading cryptocurrency exchange, Coinbase, is set to file a motion to dismiss the ongoing lawsuit from the Securities and Exchange Commission (SEC) in its entirety. Uncovered in their recent shareholder letter, this bold counteraction forms part of a broader strategy as Coinbase navigates the crypto industry’s complex and turbulent regulatory seas. “Coinbase will be filing The post Coinbase to file motion to dismiss SEC lawsuit in its ‘entirety’ appeared first on CryptoSlate.

A new report by the Network Contagion Research Institute (NCRI) suggests that social media activity, especially from inauthentic accounts, may have significantly amplified the value of certain cryptocurrencies listed on the now-defunct FTX exchange. According to the report, Twitter activity surrounding FTX-listed tokens like Gala (GALA) and ImmutableX (IMX) often featured many bot-like and inauthentic The post Social media bots suspected in possible FTX crypto price manipulation, reveals report appeared first on CryptoSlate.

In a recent letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, US Senators led by Elizabeth Warren have demanded prompt action on implementing new tax reporting requirements for digital asset brokers. The letter references the Infrastructure Investment and Jobs Act (IIJA), a bipartisan measure enacted nearly two years ago that mandated The post Elizabeth Warren pressures Treasury, IRS for swift action on $50B crypto tax loophole appeared first on CryptoSlate.