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On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the recent FUD surrounding Binance and why Solana went down yet again. This week on The Market Report, the resident experts at Cointelegraph discuss the recent fear, uncertainty and doubt (FUD) around the popular cryptocurrency exchange Binance and what the CEO of Solana had to say about recent outages.  We kick things off with this week’s top stories Binance CEO respond s to Forbes claims: ‘They don’t know how an exchange works’ In the aftermath of the FTX collapse, Forbes published an article focused on the recent “shuffling” of funds by the Binance cryptocurrency exchange. However, the following day on Feb. 28, Binance co-founder and CEO Changpeng “CZ” Zhao took to Twitter to respond. Our experts weigh in on what CZ had to say and also what exactly the FUD surrounding Binance was. If you are a Binance user, should you be worried? Solana CEO hoses down claims network outages caused by on-chain voti

Trezor, the manufacturer of crypto hardware wallets, has announced that it will take control of its wallet chip production process by producing its own silicon chips. The company states that the newly designed “chip wrapper” will enhance device security and considerably shorten lead times for mass production. Trezor ‘Unpacks Process’ and Produces Its Own Silicon Chip On Feb. 27, 2023, the Prague-based cryptocurrency hardware wallet company Trezor announced that it is now responsible for its own silicon chip-making process. According to Trezor CFO Štěpán Uherik, the new “chip wrapper” enables the company to have more design freedom for future products. Last year, Trezor’s parent company Satoshi Labs revealed its support for a startup called Tropic Square to produce an open-source silicon chip called “TROPIC01” for use in crypto hardware wallets. Tropic Square’s “TROPIC01.” The new chip-making process enhances security significantly by eliminating third-party chipmakers and associate

Lido Finance had to activate its safety feature "Staking Rate Limit" after over 150,000 ETH was staked in a single day. Liquid staking protocol Lido Finance has pushed the big red button in order to activate a protocol safety feature called " Staking Rate Limit" after more than 150,000 Ether was stake d with the protocol in a single day. Lido is a liquid staking solution for digital assets, in this case allowing users to stake Ether (ETH) without them needing to have their tokens locked. When a user deposits Ether, Lido issues them a liquid variant of ETH, known as staked ETH (stETH), giving users staking rewards for each day the tokens are held in their wallets. Lido protocol has registered its largest daily stake inflow so far with over 150,000 ETH staked. Upon reaching this number, a curious (but important) protocol safety feature called Staking Rate Limit was activated. Here’s how it works pic.twitter.com/ngBtWz7q18 — Lido (@LidoFinance) February 25, 2023

Join Our Telegram channel to stay up to date on breaking news coverage Ethereum (ETH) has seen a decrease in the price of -5.70% over the past 7 days, indicating that it is currently underperforming the global cryptocurrency market, which has experienced a decline of -5.40%. Are we looking at another bearish market ahead? Ethereum Developers Launch Shanghai Capella Testnet Ethereum developers are about to launch the Shanghai Capella testnet. Ahead of the launch, the Consensus Layer (CL) client teams discussed the progress of testing the upgrade during an All Core Developers Consensus Call (ACDC).   #Ethereum developers have scheduled the Shanghai-Capella upgrade for February 28. This will enable #ETH withdrawals from network validators — a feature that wasn't enabled during the network's transition to proof-of-stake consensus. — tip.cc (@tip_cc) February 25, 2023 One of the critical developments being tested by Ethereum’s development team is the Maximum Extracte

CBDCs could revolutionize the financial system by increasing efficiency, transparency and financial inclusion while reducing the use of cash. Central bank digital currencies (CBDCs) are digital versions of fiat currencies that are backed and issued by central banks. Here are five ways in which CBDCs could impact the global financial system. Digitalization of payments CBDCs might make payments quicker and more efficient because they would do away with the need for intermediaries. Costs could be brought down as a result, along with financial inclusion and an improved global payments system. CBDCs could also enable cross-border payments to become faster and more efficient, as they would not be subject to the limitations of the traditional financial system. The ease and reduced cost of conducting cross-border commercial transactions could have a big impact on global trade. Additionally, because they would be supported by the central bank and subject to strict security controls, CBDCs coul

Block Inc. outperformed analyst expectations and saw its share price jump in after-hours trading, but its Bitcoin revenue dipped due to price declines. Jack Dorsey’s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash App business unit in the fourth quarter, representing a 7% fall from the same time last year. In its Q4 and full-year results announced on Feb. 23, Block attributed the fall in Bitcoin revenue to the decline in BTC price in the year. Bitcoin fell approximately 65% throughout 2022. This fall in revenue led to a 25% year-on-year drop in Bitcoin gross profit for Cash App, which fell to $35 million in the quarter. Cash App is a mobile phone payment processing app created by Block, which added support for transactions via the Bitcoin Lightning Network on Oct. 25. It generates Bitcoin revenue by selling Bitcoin to customers through the app. Cash App gross profit graph from Q4, 2021 to Q4, 2022 Source: Block Inc Q4 shareholder letter For th

Join Our Telegram channel to stay up to date on breaking news coverage The price of Cronos is currently up by 3.61% in the past 24 hours , bringing its value to $0.08209. Cronos maintained a price above the $0.055 level almost throughout December 2022 until it rose to about $0.060 on January 6, 2023. But that was not the end of its rally, as it further appreciated to $0.08299 on January 16. CRO continued to rise until it hit its month’s high of $0.08304 on January 25. However, it failed to maintain that height and fell to $0.07886 as it launched into February. Although the token displayed some pullback in its price today, it has retained most of its gains over the last few weeks. This is how it looks on today’s charts. Cronos (CRO) Price Prediction Tradingview.com CRO formed two consecutive green candles between February 20 and 21, 2023. But it has pulled back slightly in the market today, February 22, trading at $0.08209 and forming a red candle on the price chart.  But th

Join Our Telegram channel to stay up to date on breaking news coverage The Universal Market Access price prediction begins to move to the upside as the coin spikes to touch the daily high at $3.04. Universal Market Access Prediction Statistics Data: Universal Market Access price now – $2.46 Universal Market Access market cap – $160.4 billion Universal Market Access circulating supply – 68.9 million Universal Market Access total supply – 108.8 million Universal Market Access Coinmarketcap ranking – #183 UMA/USD Market Key Levels: Resistance levels: $3.4, $3.6, $3.8 Support levels: $1.8, $1.6, $1.4 UMAUSD – Daily Chart UMA/USD is seen crossing above the upper boundary of the channel as the coin moves to touch the daily high of $3.04. However, for the past couple of days, the coin has been trading steadily above the 9-day and 21-day moving averages and the market may experience more bullish movements if the bulls increase the buying pressure. Universal Market Access

The official handle of BONE announced a positive feat that the token newly achieved. According to the same, the governance token for the ShibaSwap decentralized exchange entered into the top 100 list on Tuesday for the first time in history. At the time of the announcement, BONE was priced at $1.9. The said achievement has been unlocked ahead of the Shiba Inu ecosystem’s much-awaited Shibarium launch. Notably, BONE will be the gas token for the upcoming Layer-2 network. # Shibarium 🔥📡 $ Bone reached top 100 for the first time price of # Bone is 1.90 $ right now — BoneShibaSwap (@BoneShiba) February 21, 2023 Also Read: Will BabyDoge Overshadow Shiba Inu in 2023? History scripted by Shiba Inu’s BONE At press time, Bone ShibaSwap occupied the 99th slot on CoinMarketCap’s rankings list. The 8.8% daily rise and 34.6% weekly rise managed to push the token’s market cap above $423 million. Additionally, according to CoinMarketCap’s data, around 12.88 million BONE tokens

In January, more than a million people in the UK used open banking for the first time. Open Banking Limited (OBL) said in a press release on Tuesday (Feb. 21) that the number of consumers and small and medium-sized businesses (SMBs) using open banking in the United Kingdom has gone over the 7 million mark for the first time. This is because 1.2 million new users signed up during the month. “It is significant that 1.2 million of these are first-time users,” OBL CEO Henk Van Hulle said in the release. “From access to cost-effective credit, building a regular savings habit or making more informed financial decisions — open banking is delivering the means for our citizens to improve their financial wellbeing.” A press release says that this news comes five years after the Second Payment Services Directive (PSD2) made open banking a legal requirement in the United Kingdom. When that law went into effect, the U.K. was still a member of the European Union (EU). It t

Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies—Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations—are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.” De-Dollarization and CBDCs: Monetary Historian Suggests a Great Reset Is Imminent In an interview published on Feb. 16, 2023, Miles Franklin executive Andy Schectman discussed his economic predictions with Michelle Makori, the lead anchor and editor-in-chief at Kitco News. Schectman expects a large portion of the world to abandon the U.S. dollar and he also predicts a “tsunami of inflation.” With rising inflation, Schectman suggests that the interest rate set by the U.S. Federal Reserve will continue to rise and a “collapse” in asset prices will soon follow. Schectman’s opinion is similar to that of Lynette Zang, chief market analys

Join Our Telegram channel to stay up to date on breaking news coverage Following a case between the U.S. SEC and Terraform labs, crypto firm Jump Trading has been identified as the company that made $1.28 billion from the Terra ecosystem. What: Annonymous persons have identified Chicago-based crypto firm Jump Trading as the unnamed partner that made $1.28 billion from the Terra ecosystem Why: It amassed huge profits selling Luna tokens that had been purchased at discounted rates but only used $62 million to help save Terra’s UST What next: Court’s determination still pending The U.S. Securities and Exchange Commission (SEC) sued Do Kwon and Terraform Labs last week over the TerraUSD (UST) collapse. They charged the Singapore-based firm and its CEO with “orchestrating a multi-billion-dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.” In the complaint, the U.S. regulator mentioned an unnamed trading partner that co

On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.” The alert comes as a token called “FUD (FTX User’s Debt)” has been circulating on the Tron blockchain and is listed on Huobi. FTX Debtors Leverage Official Twitter Account to Inform Community FTX debtors who control the official FTX Twitter account are warning the community about entities claiming to be associated with the now-defunct cryptocurrency exchange. The company filed for Chapter 11 bankruptcy, and the restructuring team and debtors use the official FTX Twitter account often to inform the community of updates. On Feb. 17, 2023, the debtors issued a warning, stating that the bankrupt firm has not issued any debt tokens. “The FTX Debtors remind stakeholders to be on alert for scams from en

Japanese gaming company Square Enix has announced that it will be using Polygon, an Ethereum sidechain, as a base for Symbiogenesis, its upcoming Web3 experience. Naoyuki Tamate, producer of the game, cited the high transaction speeds and low transaction gas costs as the reasons for making this change in the game’s design. Square Enix to Harness Polygon for Symbiogenesis’ Blockchain Operations Square Enix, a Japanese game-developing company, has given an update regarding the development of Symbiogenesis, its upcoming Web3-based experience announced in November. The company revealed it would use Polygon, an EVM-compatible sidechain, to support part of the blockchain component of the game. The game, which will feature several art non-fungible tokens (NFTs) as part of its story, revolves around the realization of missions and collecting resources in a land called the floating continent. Regarding the utilization of Polygon’s network in the game, Symbiogenesis producer Naoyuki Tamate at