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Coinbase website faces outage

Leading cryptocurrency exchange Coinbase has experienced a system-wide outage, disrupting trading for users across its platform. The outage, which occurred unexpectedly, has left traders unable to access their accounts or execute transactions, sparking frustration and concern among the crypto community.

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Leading cryptocurrency exchange Coinbase has experienced a system-wide outage, disrupting trading for users across its platform. The outage, which occurred unexpectedly, has left traders unable to access their accounts or execute transactions, sparking frustration and concern among the crypto community.

Coinbase, one of the largest and most widely used cryptocurrency exchanges globally, serves as a vital gateway for millions of users to buy, sell, and store digital assets. However, the exchange’s reliability has come under scrutiny in light of the recent outage, highlighting the challenges associated with operating a high-traffic platform in the fast-paced crypto market.

The outage, which appears to be affecting both the Coinbase website and mobile app, has left users unable to access their funds or engage in trading activities. Reports of the outage began flooding social media platforms, with many users expressing frustration over their inability to access their accounts during crucial trading hours.

The timing of the outage has compounded concerns, as it coincides with heightened market volatility and significant price movements in various cryptocurrencies. Traders who rely on Coinbase for executing time-sensitive transactions find themselves at a disadvantage due to the sudden disruption in service.

Coinbase has acknowledged the outage via its official channels, stating that its technical team is actively working to resolve the issue and restore normal operations as soon as possible. However, no estimated timeline for resolution has been provided, leaving users in limbo as they await updates from the exchange.

The outage serves as a stark reminder of the inherent risks associated with centralized exchanges and the potential impact of technical issues on user experience and market dynamics. While centralized exchanges offer convenience and liquidity, they also present single points of failure that can disrupt trading and jeopardize user funds.

In response to the outage, some users have voiced concerns about the need for greater decentralization and resilience in the cryptocurrency ecosystem. Decentralized exchanges (DEXs), which operate on blockchain networks and do not rely on a central authority, offer an alternative to centralized platforms like Coinbase, providing users with greater control over their funds and reducing the risk of outages.

As Coinbase works to address the ongoing outage and restore service to its users, the incident serves as a wake-up call for the crypto industry to prioritize resilience, security, and decentralization. While centralized exchanges play a crucial role in facilitating liquidity and market access, they must also invest in robust infrastructure and contingency plans to minimize the impact of technical failures on users and the broader ecosystem.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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