Exo swoops in as evolved begins to crumble, and the uk takes a refreshing approach to crypto regulation. Is your nightly crypto news wrap up lets, get it after sam bakeman freed told forbes that some third tier exchanges were secretly insolvent late. Last week, rumors circulated the internet. The kucoin was a prime suspect and they were about to start halting withdrawals. These flood rumors also urged kucoin users to withdraw their money off of the platform immediately its not the best look, the kucoins native token kcs has fallen from around 18 to just above eight dollars since the start of the month, but in defense of these rumors kucoins, Ceo johnny liu has been very active on twitter, defending his project and proving that the fud is nothing more than fud. He stated that kucoin has zero exposure to luna or three arrows capital, since kucoin is running at full capacity. Theres no plan to halt withdrawals lou also pointed out that kucoin is still hiring fundraising and using the bear market as an opportunity to build the platform. Weve got that in common the rumor that concerned people the most was the claim that kucoin only had 300 bitcoin in their wallet. That was also put to rest yesterday when tun kong, who tweeted a glass note chart, proves theres over 16 000 bitcoin in their wallet. This bear market is the time when we find out who will sink or swim to make fake accusations against a platform without your fax figured well its just not only disingenuous, it can be slander.

Lou didnt hesitate to say that kucoin reserves the right to take legal action against those who spread unverified information, considering what one bad rumor can do to a company in times like this probably should lets pass it over to frankie candles for a market watch thanks ben Welcome back all right guys, lets jump in and do a little market watch here. Weve got bitcoin coming in at twenty thousand one. Seventy six aetherium coming in at 11 33 lets take a look at our top. Gainers weve got cvx up 30 on the day. Weve got curved dow token up 11 on the day basic attention: token of eight percent e cash up, five percent matic up four percent and engine of three percent guys be careful out there. Now on the weekly, we are getting some really bullish signals, but, as you guys know, a lot of these bullish signals have not really been playing out with much gusto right now. It looks like in the short term. We could get a little bit of a further move down, so keep an eye out for that. If you guys want to follow me, its frankie candles on youtube or frankie underscored candles on all socials back to the news. Thank you frank. If you like, these wrap up videos make sure to go ahead and smash that like button and do us a favor share. This video, with your family and friends, itll help them out considering cryptos market cap has lost almost 1.

3 trillion dollars, since the start of 2022 makes complete sense that a handful of projects and platforms are going to drop. Like flies. The latest of the bunch thats facing challenges is the lending borrowing exchange vauld as a result of them, seeing almost 198 million dollars in withdrawals since june 12th to stop the bleeding vold made the tough decision to suspend all withdrawals trading and deposits on the platform as A result of volds insolvency nexo has stepped up to the plate and disclosed their plans to acquire 100 evolved and reorganizes future operations. Right now, the two companies are in a non binding contract, known as an indicative term sheet, which grants nexo a 60 day exploratory period to figure out the terms and conditions of the potential acquisition at the end of the 60 days. They will decide if they want to go through with the buy or drop it all together could depend on bitcoins price. Hopefully, nexo can stop the vault ship from seeking, since they claim theyre one of the few crypto companies left theyre in a position to help distressed businesses in america. For some reason, unbeknownst to me the powers to be want to regulate crypto assets under the same pre. Existing umbrellas used to regulate normal securities and commodities dirty gary gensler, even proposed to put all crypto under one rulebook, regardless of this distinction, theres a growing opportunity, thats primed, to be the future of finance, so it needs its own regulating body right, well, its safe to Say that the uk is handling this issue much better than the u.

s, since they are growing a new regulating body specifically for digital assets, something ive said we need. For years the fca, the uks financial conduct authority, has recently appointed matthew long to director of payments and digital assets. A new unit designated to regulating crypto long has spent plenty of time chasing those who commit crimes as well as economic crimes. Since hes, a former police officer, as well as the director of the national economic crime command already common knowledge, the uk fully intends to become a crypto powerhouse, but its still unclear on whether or not they will pursue their own cbdc. Instead of pushing harsh over regulation, theyre actually seeking the publics opinion on how to tax defy instead of finding ways to eliminate an ecosystem they cant control. This level headed approach to embracing crypto is an opportunity. Instead of stifling progression is a page. The u.s should take from our friends on the other side of the atlantic, see you on the pitch thats. All i got.