Author: Vortex Cryptonews

ASIC Sues Binance Australia for Misclassifying Retail Investors

Vortex Cryptonews

ASIC has filed a lawsuit against Binance Australia Derivatives, accusing it of misclassifying over 500 retail investors as wholesale clients. Binance allegedly failed to issue required disclosure documents, create a Target Market Determination, and operate an internal dispute resolution system. ASIC seeks penalties, declarations, and public accountability measures to hold Binance responsible for breaching financial laws. The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance Australia Derivatives, accusing the crypto exchange of misclassifying more than 500 retail investors as wholesale clients. According to an on Wednesday,…

Australia Regulator Fines Kraken Operator $8M over Unauthorized Product Offerings

Vortex Cryptonews

ASIC fined Kraken’s Australian operator $8 million for regulatory violations involving margin extension products. The penalty stems from Bit Trade’s failure to meet compliance standards, resulting in significant customer losses. The case marks ASIC’s first enforcement action for lacking a Target Market Determination (TMD) . On Thursday, the Australian Securities and Investments Commission (ASIC) revealed it has fined Bit Trade Pty Ltd, the operator of ’s Australian cryptocurrency exchange, up to $8 million for violating federal securities laws. According to the , the penalty arose from Bit Trade’s unlawful provision…

Coinbase Responds to User Complaints amid Account Restrictions and Fraud Concerns

Vortex Cryptonews

Coinbase dismissed claims of account restrictions as exaggerated FUD. The exchange reported preventing tens of millions in customer losses amid rising fraud. It assured users that affected accounts will be addressed. has addressed claims from customers on its X account regarding sudden account restrictions. The exchange stated that it is not ignoring these complaints and assured users that its team is working diligently to resolve the issues. There have been various reports of Coinbase users being targeted by hackers. A pseudonymous security researcher with more than 20,000 followers pcaversaccio on…

Brooklyn DA Closes 40 Fake NFT Sites after Artist Lost $135K

Vortex Cryptonews

An 85-year-old artist lost over $135,000 to a fake NFT minting website. The Brooklyn DA’s office has shut down about 40 related fake NFT sites. Beyond the Brooklyn area, victims are targeted all over the country. Brooklyn’s District Attorney’s Office has recently taken action on fraudulent (NFT) operations. This action was prompted after an 85-year-old artist fell victim to a scam that led to a significant financial loss. The artist, targeted through LinkedIn, was tricked into minting his artwork on a fake NFT platform. The NFT Scam Unfolds: A Deal…

Breaking: Texas House Introduces Bill to Establish Strategic Bitcoin Reserve

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Texas proposes a bill for a strategic Bitcoin reserve, allowing Bitcoin for taxes, fees, and donations. Representative Capriglione advocates Bitcoin adoption, combating inflation, with held reserves for at least five years. Texas, home to top US Bitcoin miners, aims to lead in cryptocurrency-backed financial innovation globally. Texas has introduced a bill to establish its own strategic bitcoin reserve, to CNBC report. Proposed by Republican State Representative Giovanni Capriglione, the bill would let Texas accept Bitcoin for taxes, fees, and donations. If passed, this initiative would position the state as a…

Can Baby Doge Coin (BabyDoge) Hit $0.000000010? Korean Market Opens Its Door

Vortex Cryptonews

Baby Doge Coin forms a morning star pattern after a 350% rally, hinting at a bullish continuation. KCEX is adding BabyDoge for spot trading, marking its entry into the Korean crypto market. Fibonacci levels project BabyDoge reaching $0.00000001010, offering a 150% upside potential. With Bitcoin price sliding to $104,436 after creating a new all-time high at $106,533, the meme coin market has witnessed a steeper decline. The top meme coins are experiencing a downfall of 0.25% to 4.5%. This reflects a cooling-off period in the market following the . The…

Chainlink (LINK) Surges amid Altcoin Rally, Secures Key Role in Tokenized Securities with 21X

Vortex Cryptonews

LINK price reached $22.9, marking a 22.4% gain in 24 hours with $6 billion daily trading volume and $21 billion market valuation. Chainlink’s infrastructure has facilitated over $17.3 trillion in total transaction value, with adoptions by major companies. Strategic partnership with Frankfurt-based 21X will enable EU-regulated tokenized trading services, set to launch in Q1 2025 under BaFin supervision. Chainlink , a fast-growing blockchain ecosystem that enables the mainstream adoption of smart contracts through reliable data, has emerged as a top performer in the ongoing altcoins rally led by Ripple Labs’…

Arthur Hayes: Crypto Market to See ‘Harrowing Dump’ on Trump’s Inaugural Day

Vortex Cryptonews

Bitcoin and crypto will crash on January 20, the day Trump takes over. The Bitcoin strategic reserve initiatives is not happening, said BitMEX’s Arthur Hayes. Bitcoin made a new all-time high, breaking $108K for the first time. , a prominent crypto entrepreneur and one of the co-founders of leading crypto exchange BitMEX, stated that on January 20, the day president-elect begins his tenure as the new United States president, the crypto market will witness a “harrowing dump” with Bitcoin and altcoins nosediving significantly after the recent monumental gains. In a…

AI Tools Coming to Ripple Ecosystem as Atua Developer Announces $100 Million Fund

Vortex Cryptonews

Atua AI plans to accelerate the adoption of AI solutions within DeFi and enterprise operations using Ripple XRP’s efficient and scalable infrastructure. The investment will fund AI model training, research, and development, focusing on real-time analytics and and automated workflows for XRP-based platforms. It also aims to streamline business operations, enhance automation, and improve decision-making processes. The Ripple ecosystem is set to get a major boost as Atua AI developer KaJ Labs has announced a $100 million fund to build advanced AI tools on the Ripple platform. With this move,…

Bitget Plans to Enter the US Market as Pro-Crypto Sentiment Grows

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Bitget is revisiting plans to enter the US market, leveraging potential regulatory clarity under a pro-crypto Trump administration. Bitget may partner with licensed US firms to simplify regulatory processes and fast-track its entry into the American crypto ecosystem. Leading cryptocurrency exchange Bitget is gearing up for a potential entry into the United States market, spurred by optimism surrounding the incoming pro-crypto Trump administration. The exchange, known for its rapid growth and innovative strategies, is exploring partnerships with US-licensed firms to navigate the country’s regulatory complexities efficiently. According to a CoinDesk…