Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger enforced by a network of computers, known as nodes. This ensures that transactions are secure, transparent, and immutable. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are typically not controlled by any central authority, making them resistant to government interference or manipulation.
Cryptocurrencies can be used for various purposes, including online purchases, investment, and as a medium of exchange. Bitcoin, created in 2009, was the first cryptocurrency and remains the most widely recognized. Since then, thousands of alternative cryptocurrencies (often called altcoins) have been developed, each with unique features and uses. Cryptocurrency transactions can be conducted directly between users without the need for intermediaries, leading to lower transaction fees and enhanced privacy. However, the volatile nature of cryptocurrency values and regulatory uncertainties can pose risks for users and investors.
Accusations arose against Binance for alleged market manipulation following large token movements of Solana (SOL) and Ethereum (ETH). Scrutiny intensified when February 24th transactions were linked to Wintermute, a market…