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Ronin Cryptocurrency Faces 26% Price Drop Post-Binance Listing Amid Manipulation Concerns

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The cryptocurrency market witnessed a dramatic twist as Ronin (RON) plunged 26% in value soon after its listing on the leading exchange, Binance. This steep decrease annihilated the 15% gain Ronin had initially enjoyed, leading to a considerable 30% depreciation in its value within a single day. Despite rising above the $3 threshold and hitting a two-year high at $3.538, the digital asset met with substantial resistance and slumped below a significant support level, closing at $2.62.

The Fallout of Ronin’s Fall

As a consequence of the precipitous fall, Ronin’s market capitalization shrank to $746.26 million, missing the coveted $1 billion mark. Nevertheless, the cryptocurrency manages to stay at a 23-month high, courtesy of the $2.5 support level acting as a buffer against further declines.

A Surge in Social Volume and Negative Sentiment

The downturn in Ronin’s market performance coincided with a rise in social volume and negative sentiment, as per data from Santiment. Social volume registered a massive 254% increase within a day, and negative sentiment saw a considerable escalation, leading to increased selling pressure and a 275% hike in trading volume. This sudden price drop secured Ronin the unenviable title of the most significant loser among the top 100 cryptocurrencies by market cap.

Allegations of Market Manipulation

The initial price surge followed by the drastic crash raised eyebrows, with growing investor interest and a substantial upsurge in network activity being the attributed reasons. However, the volatility evoked suspicions of market manipulation. In response, Binance’s co-founder, Yi He, has stepped up to reassure the market by offering a $5 million bounty for information on any Binance staff potentially involved in unethical activities, in an effort to maintain market integrity and safeguard investor trust.

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority
The SEC is signaling a decisive push to move U.S. financial markets onto blockchain infrastructure, framing on-chain settlement as a priority upgrade that could reshape post-trade systems and regulatory strategy under Chair Paul Atkins.
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Westlake police say cryptocurrency scam cost woman over $5,000

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Westlake police say cryptocurrency scam cost woman over ,000

WESTLAKE, Ohio – A convenience store clerk at 1:30 p.m. on Nov. 26 alerted a police dispatcher that a female customer was feeding large amounts of cash into a cryptocurrency ATM at the store on Center Ridge Road at Dover Center Road.

The clerk said the customer would not believe the clerk’s warning that she was being scammed.

Officers arrived to find the 71-year-old still “anxiously depositing” cash into the machine. Officers told her to stop, but she did not believe the uniformed men. The officers talked to her for several minutes before she finally believed that there was an issue. She was still on the phone with the scammer at the time.

The incident started that morning when the victim received a pop-up message on her home computer instructing her to call a provided support phone number due to a supposed issue with the computer’s operating system. She called the number and was connected to a man who claimed he was a representative from Apple, according to a police department press release.

The man talked her into allowing him remote access to her computer while he asked for her bank information. The scammer talked the victim into believing that there was a problem with her accounts, and she was at risk of losing $18,000 in connection with pornographic websites out of China or Mexico.

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She was connected to a fake fraud department for her bank, and another scammer persuaded her to go to a bank and withdraw as much cash as they would allow. The scammer even told her to give the teller a story about needing cash to buy a car. The perpetrator kept the woman on the phone as she took out cash and traveled to the crypto ATM. The victim had deposited approximately $5,500 before officers persuaded her to stop. The Westlake Detective Bureau is attempting to recover the lost funds.

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin
Youtube has reportedly begun letting U.S. creators receive payouts in Paypal’s dollar-pegged stablecoin, Paypal USD (PYUSD), signaling a shift toward regulated digital currencies as mainstream payment tools and deepening stablecoins’ role in creator monetization.
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