Cryptocurrencies Today: News, Analysis, and Predictions ☀️

Australia’s Crypto Crackdown: ATO Seeks Data from Exchanges To Identify Tax Discrepancies

May 8, 2024 | 16:30 pm

The Australian Taxation Office (ATO) is targeting approximately 1.2 million cryptocurrency-related accounts to tighten the noose on tax discrepancies. According to Reuters, this step marks an approach by the Australian government to “crackdown on users who may be failing to pay their taxes amid a rising interest in digital tokens.” Related Reading: IRS Reveals Preliminary […]

Standard Chartered: Second Trump Term Would Be ‘Broadly Positive’ for Crypto

May 8, 2024 | 16:16 pm

Standard Chartered Bank predicts that a second term for the Trump administration would create a favorable regulatory landscape, leading to a positive outlook for the crypto sector. The bank has revised its forecast citing improved market sentiment after cautioning that bitcoin’s price could drop to the $50K range. Standard Chartered on Trump and Crypto Standard […]

SEC Chair Gary Gensler: ‘Crypto is a small piece of our market, BUT…’

May 8, 2024 | 16:00 pm

Is SEC Chair Gensler's stance on crypto justified, or does it show regulatory bias?

AI Tokens Take The Baton From Memecoins To Lead A Market Resurgence

May 8, 2024 | 15:52 pm

After last week’s bloodbath, cryptocurrency prices began climbing northwards again, this time on the backs of projects linked to artificial intelligence (AI).

Robinhood crypto trading volume up 224% YoY to $36 billion in Q1

May 8, 2024 | 15:48 pm

Robinhood reported $36 billion in crypto notional trading volume during the first quarter of 2024, a 224% increase year over year. The firm also reported record net revenues of $618 million, up 40% year over year. The total revenues included $329 million derived from transaction revenues, which included revenue generated from its crypto business — […] The post Robinhood crypto trading volume up 224% YoY to $36 billion in Q1 appeared first on CryptoSlate.

Nigeria Bans Naira in P2P Crypto to Curb Manipulation Risks

May 8, 2024 | 15:30 pm

The Nigerian cryptocurrency market is preparing for significant changes. The Securities and Exchange Commission (SEC) has recently announced plans to implement new regulations to tighten its control over cryptocurrency activities within the country. This move comes amid concerns about potential manipulation of the local currency, the Naira, through peer-to-peer (P2P) platforms. Emomotimi Agama, Director General […]

Day Cryptoys Announces Launch of the Star Wars Volume III Collection In Celebration of Star Wars™, Available Beginning Today, May 8th

May 8, 2024 | 15:15 pm

WHEN: May 8th, 2024 12:03 PM ET WHAT: Cryptoys recently unveiled the highly anticipated Star Wars Volume III Collection, featuring beloved characters such as Grogu, Din Djarin, Bo-Katan Kryze, and Boba Fett. This exciting announcement coincides with the celebration of Star Wars Day, adding even more excitement to the mix. The Star Wars Volume III Collection […]

Coinbase Legal Chief Urges SEC Chair to Stop Misleading the Market About Crypto Tokens Being Securities

May 8, 2024 | 15:10 pm

Coinbase’s chief legal officer has publicly urged U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to stop misleading the market regarding crypto tokens being securities. His request followed Gensler’s repeated assertions that numerous crypto tokens conform to the legal definition of securities, thereby requiring compliance with SEC regulations. Coinbase’s CLO to Gensler: Please Stop […]

Ripple’s Planned Stablecoin Is an ‘Unregistered Crypto Asset,’ According to SEC

May 8, 2024 | 15:01 pm

The U.S. Securities and Exchange Commission (SEC) says that Ripple Lab’s planned new stablecoin qualifies as an “unregistered crypto asset.” In a new court filing, the regulatory agency says that not only has Ripple been selling XRP – the digital asset used to operate the XRP Ledger – as an unregistered security since 2013, but […] The post Ripple’s Planned Stablecoin Is an ‘Unregistered Crypto Asset,’ According to SEC appeared first on The Daily Hodl.

XRP Price To Reach $1.68? Here’s What Will Drive It

May 8, 2024 | 15:00 pm

Crypto analyst Jonathan Carter has predicted that the XRP price could rise to $1.68. The analyst, however, noted what needs to happen before the crypto token can attain such heights. How XRP Price Will Rise To $1.68 Carter noted in an X (formerly Twitter) post that the XRP price was “bouncing from the lower trendline […]

Solana’s Surge: Here’s Why This Analyst Is Predicting A Rise To $360

May 8, 2024 | 15:00 pm

Recently, a popular crypto trader and YouTuber has predicted a substantial surge in Solana price, forecasting it could reach as high as $360 soon. This prediction is underpinned by a technical pattern on Solana’s chart—a bullish signal suggesting a potential reversal from bearish to bullish momentum. Technical Insights Into SOL Potential $360 Rise According to [...] The post Solana’s Surge: Here’s Why This Analyst Is Predicting A Rise To $360 appeared first on Crypto Breaking News.

Austria Warns of Crypto Scam: Authorities Seize €6 Million, Arrest Dozens in Raid

May 8, 2024 | 14:30 pm

In a coordinated action, the authorities from Austria, Cyprus, and the Czech Republic worked together to take down a crypto scam based in Austria. The scam had been running from December 2017 to February 2018. Six people were arrested for allegedly stealing money from investors, with an estimated loss of €6 million (around $6.5 million). […]

Nigeria claims Binance’s bribery allegations are ‘blackmail’

May 8, 2024 | 14:24 pm

The Nigerian government has refuted bribery allegations made by crypto exchange Binance, which were described as baseless and an attempt to distract from the company’s legal challenges in the country, according to a press statement released on May 8. Binance CEO Richard Teng recently alleged that Nigerian officials demanded $150 million in crypto to settle […] The post Nigeria claims Binance’s bribery allegations are ‘blackmail’ appeared first on CryptoSlate.

Revolut Expands Offering To 40 Million Users, Introduces Crypto Exchange Services

May 8, 2024 | 14:00 pm

In a significant move into the digital asset space, British banking app Revolut has unveiled Revolut X, a dedicated crypto trading platform for UK retail customers. According to a Fortune Magazine report, the launch of the new platform signifies Revolut’s commitment to the crypto industry and positions the company to compete with major players like […]

Crypto Traders Discuss Why Memecoins Have Been 2024’s Most Profitable Narrative

May 8, 2024 | 14:00 pm

Journalist and host Laura Shin interviewed crypto traders Ansem and Kel, known on X as blkoiz06 and Kelxyz, for her Unchained Podcast. They discussed why memecoins had become the most profitable crypto trade this cycle and what the future might hold for the sector. Is There Value In A Memecoin? To begin with, Shin asked [...] The post Crypto Traders Discuss Why Memecoins Have Been 2024’s Most Profitable Narrative appeared first on Crypto Breaking News.

ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’

May 8, 2024 | 13:50 pm

Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core product,” he stressed. ‘We Need to Speed up on All […]

AI Altcoins Set for Surge: Analyst Forecasts Boom Amidst Technological Advances

May 8, 2024 | 13:30 pm

In a recent analysis that attracts crypto enthusiasts, a popular crypto analyst, Crypto Busy has gone on X platform to share his positive vibes in relation to AI altcoins. Crypto Busy suggests that the industry is about to see a great move up. This feeling is reinforced by the more recent developments and changes within […]

Mastercard Teams Up with Major Banks for Tokenized Settlement Pilot

May 8, 2024 | 13:21 pm

In order to test distributed ledger technology for financial settlements utilizing tokenization, Mastercard has partnered with major US banks including Citigroup, Visa, and JPMorgan. This collaboration between the payment processor and the banking titans is a test run in Regulated Settlement Network (RSN), a distributed ledger technology. Through RSN, it

Ethereum’s Bullish Cues Could Help ETH Price Jump 93%

May 8, 2024 | 13:10 pm

Ethereum has shown promising signs of resilience and future growth, with several bullish cues lined up, both on-chain and technical. The post Ethereum’s Bullish Cues Could Help ETH Price Jump 93% appeared first on CoinChapter.

Biden administration to veto overturning of controversial SEC crypto rules

May 8, 2024 | 13:02 pm

The Biden administration said on May 8 that it would veto H.J. Res. 109, which intends to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121). The administration said it “strongly opposes” the resolution as the change will interfere with the SEC’s efforts to protect crypto market investors and safeguard the financial system. The administration […] The post Biden administration to veto overturning of controversial SEC crypto rules appeared first on CryptoSlate.

Bitcoin Sharks Show Most Aggressive Buying Spree Ever: Data

May 8, 2024 | 13:00 pm

On-chain data shows that Bitcoin investors holding between 100 and 1,000 BTC have been on an unprecedented buying spree in the past two months. Bitcoin Supply Held By Sharks Has Sharply Gone Up Recently As analyst Willy Woo explains in a new post on X, a group of high-net-worth Bitcoin investors has been buying heavily […]

Crypto Analyst Predicts 350% Surge For Shiba Inu – Here’s The Target

May 8, 2024 | 13:00 pm

Crypto analyst Crypto Dona has predicted a 350% price surge for Shiba Inu (SHIB). He suggested that the meme coin will unlikely go higher than that in this bull run. Shiba Inu To Rise To $0.00011 Crypto Dona revealed in an X (formerly Twitter) post that his price target for Shiba Inu is $0.00011 and [...] The post Crypto Analyst Predicts 350% Surge For Shiba Inu – Here’s The Target appeared first on Crypto Breaking News.

Institutional Crypto Firm Anchorage Digital Accumulates Eight Figures Worth of Ethereum DeFi Coin: Lookonchain

May 8, 2024 | 13:00 pm

Crypto bank Anchorage Digital is drawing attention for suddenly accumulating massive amounts of one decentralized finance (DeFi) altcoin. Blockchain tracking firm Lookonchain says that Anchorage Digital has used 13 wallets in the past month to accumulate more than $49.4 million worth of MKR, the native token for the DeFi protocol Maker. The most recent purchases […] The post Institutional Crypto Firm Anchorage Digital Accumulates Eight Figures Worth of Ethereum DeFi Coin: Lookonchain appeared first on The Daily Hodl.

$85,200 Bitcoin Before Summer? Glassnode Analysts Say BTC Breaking Out of Bullish Technical Pattern

May 8, 2024 | 12:55 pm

The founders of crypto analytics platform Glassnode say that Bitcoin (BTC) may reach $85,200 before summer if a technical setup plays out. In a new thread, the co-founders of Glassnode , who go by the handle Negentropic on the social media platform X, tell their 62,800 followers that the crypto king appears to be breaking […] The post $85,200 Bitcoin Before Summer? Glassnode Analysts Say BTC Breaking Out of Bullish Technical Pattern appeared first on The Daily Hodl.

Ex-Digitex CEO Adam Todd Admits to Regulatory Failures

May 8, 2024 | 12:52 pm

NAIROBI (Coinchapter.com) – Ex-Digitex CEO Adam Todd recently pleaded guilty to severe regulatory oversights. The U.S. Attorney’s Office for the Southern District of Florida announced on May 7 that Todd failed to set up an Anti-Money Laundering (AML) program at Digitex Futures Exchange. This case spotlights a significant breach in compliance within the cryptocurrency sector. […] The post Ex-Digitex CEO Adam Todd Admits to Regulatory Failures appeared first on CoinChapter.

Ripple’s XRP Risks Another Blow As SEC Labels Its Stablecoin Project As An ‘Unregistered Crypto Asset’

May 8, 2024 | 12:50 pm

In the Tuesday redacted brief, the SEC described Ripple’s proposed U.S. dollar-pegged stablecoin as an “unregistered crypto asset.”

Tether Eyes Eastern European Expansion Via Investment in CitiPay.io

May 8, 2024 | 12:44 pm

Tether, the issuer of USDT, has declared intentions to expand its footprint across Eastern Europe. In order to do this, the cryptocurrency company plans to increase its investment in CitiPay.io, a platform that processes payments. It should be noted that this is not the first time Tether, the stablecoin issuer,

Crypto Presales May 2024: Analysing BlockDAG, DarkLume, SimuGaze, Memeinator, and Bitbot

May 8, 2024 | 12:39 pm

The rapidly evolving crypto market is brimming with potential, and presales are increasingly offering opportunities to secure tokens at low prices ahead of their anticipated growth. Among these exciting presales, BlockDAG leads among the top 4 crypto presales for May 2024, proving itself as the top contender for high returns. As DarkLume impresses with its […]

Bitcoin Settles Into $62,000 As Traders Set Their Sights On $100,000, Backed By Bullish Fundamentals

May 8, 2024 | 12:32 pm

After a torrid week, Bitcoin's (BTC) price settled at around $62,000, with traders bracing for a continuous rally that could send asset prices to $100,000.

Ethereum’s Layer 2 Landscape: Base Secures Leading Edge in Capital Influx

May 8, 2024 | 12:30 pm

In the recent analysis update shared on the X platform of the prominent analytics platform IntoTheBlock, it has been noted that Base, a Layer 2 solution of Ethereum, is doing better than its competitors in bringing in new investments. Base has received a huge amount of capital this week, where the net Ethereum (ETH) deposits […]

President Joe Biden Will Veto Legislation Allowing Financial Firms to Custody Bitcoin: White House

May 8, 2024 | 12:22 pm

The Executive Office of US President Joe Biden has announced its stance on proposed legislation, H.J. Res. 109, that would allow highly regulated financial firms to act as custodians for Bitcoin and other cryptocurrencies. JUST IN: 🇺🇸 US President Joe Biden Administration says Biden would veto legislation that would allow highly regulated financial firms to custody #Bitcoin [...] The post President Joe Biden Will Veto Legislation Allowing Financial Firms to Custody Bitcoin: White House appeared first on Crypto Breaking News.

zkSync Hyperchain Sophon Successfully Raises $60 Million Via Node Sale

May 8, 2024 | 12:21 pm

Sophon, the entertainment-focused zkSync Hyperchain, has successfully raised almost $60 million in less than a week from the start of their node sale. The Hyperchain modular blockchain architecture, developed by Matter Labs, the group that created zkSync—the first zk-rollup in the Ethereum Layer 2 space—is used by the blockchain. With

Solana Breakout: Crypto Analysts Confirm SOL Is Ready To Cross $200

May 8, 2024 | 12:00 pm

Solana had previously touched $200 earlier in the year but this was only for a brief period before declining back down to $150. At this point, the Solana indicators are beginning to flash bullish, prompting crypto analysts to predict a resurgence above $200 for the altcoin. Solana Shows Growth On D1 Timeframe Crypto analyst Maximilian […]

Ripple CEO Brad Garlinghouse Reaffirms Commitment to XRP Amidst Doubts

May 8, 2024 | 11:53 am

Ripple CEO Brad Garlinghouse speaks on speculations and says the company has not abandoned the project. This appears to be in line with a statement made by a pro-XRP lawyer in 2023 that it is impractical for Ripple to abandon XRP. Lately, the commitment of Ripple Labs to secure and transform the XRP ecosystem has [...]

Bitcoin Bulls Anticipate Trump Victory: Standard Chartered Predicts $150K BTC

May 8, 2024 | 11:50 am

A Standard Chartered report suggests Bitcoin could perform well if Trump wins the US election due to clearer regulations and as a hedge against inflation. Bitcoin’s adoption by traditional investors is increasing due to unfavorable economic conditions and uncertainty in the Treasury market. According to a recent research report by Standard Chartered, cryptocurrency markets are [...]

Trump’s potential return could catalyze major uptick in alt investments like Bitcoin – StanChart

May 8, 2024 | 11:49 am

A recent Standard Chartered report forecasts that a second term for Donald Trump could significantly boost Bitcoin and other digital assets as viable alternative investments. The report investigates how US fiscal policies under a potential Trump administration could steer investors toward Bitcoin and other cryptocurrencies. Meanwhile, the lender has also revised its outlook on Bitcoin’s […] The post Trump’s potential return could catalyze major uptick in alt investments like Bitcoin – StanChart appeared first on CryptoSlate.

SEC Allocating ‘Grossly Disproportionate’ Amount of Resources to Crypto, Says Lawyer Jake Chervinsky

May 8, 2024 | 11:45 am

Digital asset legal expert Jake Chervinsky thinks the U.S. Securities and Exchange Commission (SEC) is allocating a “grossly disproportionate” amount of resources toward regulating crypto. Chervinsky, the chief legal officer at the crypto fund Variant, blasted the SEC for recently sending out a Wells Notice to Robinhood’s crypto trading arm. A Wells Notice is a […] The post SEC Allocating ‘Grossly Disproportionate’ Amount of Resources to Crypto, Says Lawyer Jake Chervinsky appeared first on The Daily Hodl.

Bitcoin Lightning Wallet ZEUS Isn’t Going Anywhere

May 8, 2024 | 11:44 am

Founder: Evan Kaloudis Date Founded: 2019, block 563345; incorporated in 2023 Location of Headquarters: No HQ; fully remote Amount of Bitcoin Held in Treasury: Not disclosed Number of Employees: 2 Website: https://zeusln.com/ Public or Private? Private On April 26, 2024, Evan Kaloudis drew a line in the sand. In the wake of the news of the Samourai Wallet developers [...] The post Bitcoin Lightning Wallet ZEUS Isn’t Going Anywhere appeared first on Crypto Breaking News.

JPMorgan, Mastercard, Wells Fargo and US Banking Giants Explore New Ledger-Based Settlement With Tokenized Assets

May 8, 2024 | 11:41 am

America’s biggest financial institutions are collaborating on a new initiative to explore an on-chain settlement system for tokenized cash and assets. According to an announcement from the Securities Industry and Financial Markets Association (SIFMA), members of the “regulated U.S. financial sector” have launched a Regulated Settlement Network (RSN) proof-of-concept (PoC) that aims to explore the […] The post JPMorgan, Mastercard, Wells Fargo and US Banking Giants Explore New Ledger-Based Settlement With Tokenized Assets appeared first on The Daily Hodl.

18 G20 Nations Emerge as the Hubs for Crypto Degens

May 8, 2024 | 11:40 am

The onset of 2024 brought with it the hype of an impending bull run, embracing a diverse range of participants including new explorers, established institutions, and investors. Events starting from debut of spot Bitcoin ETFs in the US, BTC’s new ATH at $73K, Ethereum’s Dencun, memecoin frenzy, Bitcoin halving, to

Frustrated Gary Gensler Says He Gets an “outsized ratio” of Questions About Crypto

May 8, 2024 | 11:39 am

NAIROBI (Coinchapter.com) – Frustrated SEC Chair Gary Gensler recently spoke about the disproportionate attention given to the cryptocurrency sector, stating he receives an “outsized ratio” of questions about crypto compared to its relatively small market capitalization. Squinting under the glare of media attention, SEC Chair Gary Gensler struck a defensive and frustrated tone regarding the […] The post Frustrated Gary Gensler Says He Gets an “outsized ratio” of Questions About Crypto appeared first on CoinChapter.

Ordinal Derangement Syndrome (ODS) Is a Real Phenomenon

May 8, 2024 | 11:38 am

Ordinal Derangement Syndrome (ODS) is a real phenomenon. As a neutral observer from Bitcoin Magazine, I aim to address the misconceptions and dismissive attitudes toward Ordinals in the Bitcoin community, revealing the overlooked complexities and potential within what I term ‘Ordinal Derangement Syndrome’ (ODS). ODS emerges as a significant phenomenon within a segment of the [...] The post Ordinal Derangement Syndrome (ODS) Is a Real Phenomenon appeared first on Crypto Breaking News.

Binance CEO Says Nigeria’s Detention of Employee on ‘Spurious’ Charges Sets ‘Dangerous Precedent’

May 8, 2024 | 11:37 am

Binance CEO Richard Teng has warned that Nigeria’s decision to invite and subsequently detain mid-level employees on what he calls “spurious” charges sets “a dangerous precedent for companies worldwide.” Teng stated that certain lawmakers in Nigeria demanded a significant payment in cryptocurrency to dismiss the charges against Binance. Binance CEO Laments ‘Spurious’ Charges Against Tigran […]

Solana’s Co-founder makes strong case for meme coins; spotlights memecoin migration from ETH to Solana

May 8, 2024 | 11:32 am

In a recent development, the co-founder of Solana, one of the most popular proof-of-stake networks, has shown support for meme coin-based cryptocurrency tokens.

US lawmakers introduce bill to suspend crypto mixer transactions

May 8, 2024 | 11:31 am

US lawmakers have proposed a new bill that aims to temporarily prevent financial institutions from engaging in transactions involving funds that have been through crypto mixers. Congressman Sean Casten (IL-06) introduced the bill on May 7 and received support from Representatives Bill Foster, Brad Sherman, and Emmanuel Cleaver. Blockchain Integrity Act The proposed legislation, dubbed […] The post US lawmakers introduce bill to suspend crypto mixer transactions appeared first on CryptoSlate.

Dogwifhat Market Challenge: Can WIF Rebound from Recent Declines?

May 8, 2024 | 11:30 am

An increase in supply has particularly hard-hit meme coins during the mid-week cryptocurrency market downturn, affecting their price stability and market performance. Dogwifhat, a relatively new and trending meme coin, has seen a drastic reversal in its price, which threatens to disrupt the ongoing bullish trend. Current market conditions and

XRPL EVMSidechain Upgrades: New Transaction Fees and Cosmos IBC Activated

May 8, 2024 | 11:24 am

TL;DR Amendments 33 and 34 have been applied to the XRPL EVMSidechain, implying new transaction costs in XRP and the activation of the Cosmos IBC. Amendment 33 establishes new transaction prices in XRP, while Amendment 34 activates cross-chain communication with Cosmos. These changes represent significant advancements in the functionality and connectivity of the ecosystem. In ... Read more

Bitcoin Whales Powerful Enough to Revive Bullish Rally, Data Reveals

May 8, 2024 | 11:21 am

As the market observes a steady decline in Bitcoin’s price over the last week and into the new weekend, sentiments have become even more bearish.

XRP Ledger Foundation Welcomes Anodos Finance to Its Unique Node List

May 8, 2024 | 11:17 am

Anodos Finance has now been added as a Unique Node List operator on XRP Ledger. XRP Price did not shift significantly despite the news. On Tuesday, the XRP Ledger (XRPL) Foundation announced the inclusion of Anodos Finance to its Unique Node List (UNL). As a result, Anodos Finance is now one of XRPL’s 35 trusted [...]

Nexo Launches $12M Token Hunt Promotional Campaign to Celebrate 6th Anniversary

May 8, 2024 | 11:14 am

In celebration of its sixth anniversary, Nexo, one of the biggest cryptocurrency ecosystems, has launched a promotional campaign. Both new and current Nexo users may benefit from the token hunt, by delving into the many Nexo ecosystem components. As a whole, the team allocated ten million NEXO tokens—about $12 million—to the event’s

Mastercard and US Banks Pioneer Shared-Ledger Tech for Tokenized Assets

May 8, 2024 | 11:12 am

TL;DR Mastercard and major US banks are collaborating on a trial of shared ledger technology to simplify the settlement of tokenized assets. The objective is to improve efficiency and security in dollar and asset transactions such as government and bank debt. Institutions such as Citigroup, JPMorgan Chase, US Bancorp, Wells Fargo, Visa, Swift, among others, ... Read more

‘Smart Money’ Whales Accumulating Two AI Altcoins From Binance, According to On-Chain Analysts

May 8, 2024 | 11:05 am

Deep-pocketed investors are scooping up massive amounts of two artificial intelligence (AI)-related altcoins, on-chain data suggests. Blockchain-monitoring service Lookonchain noticed that a Binance wallet linked to crypto investment firm DWF Labs suddenly received a large amount of Fetch.ai (FET), a decentralized machine learning project. “Wallet ‘0x633c’ transferred 1 million FET ($2.25 million) to DWF Labs […] The post ‘Smart Money’ Whales Accumulating Two AI Altcoins From Binance, According to On-Chain Analysts appeared first on The Daily Hodl.

Major Polkadot Upgrade Ahead, Challenging Ethereum’s Dominance

May 8, 2024 | 11:01 am

NAIROBI (Coinchapter.com) – Polkadot, saw significant growth in early 2024, priming for the major, much-anticipated, Join-Accumulate Machine (JAM) upgrade. Despite being the second-largest blockchain by developer activity and ecosystem growth, Polkadot’s market value does not yet mirror its true potential. This gap may close as Polkadot 2.0 approaches, aiming to address Ethereum’s scalability and security […] The post Major Polkadot Upgrade Ahead, Challenging Ethereum’s Dominance appeared first on CoinChapter.

Cardano Offering Better Buying Window Than Other Top Coins, Santiment Reveals

May 8, 2024 | 11:00 am

The analytics firm Santiment has revealed that Cardano (ADA) currently shows a slightly better buying opportunity than the other top coins. Cardano May Be Showing A Good Buying Opportunity According To RSI In a new post on X, Santiment discussed how the top assets in the cryptocurrency sector have been performing regarding the Relative Strength [...] The post Cardano Offering Better Buying Window Than Other Top Coins, Santiment Reveals appeared first on Crypto Breaking News.

Crypto Investment Boom: Over $1 Billion Poured In For Two Straight Months

May 8, 2024 | 11:00 am

The crypto sector continues to exhibit strong growth and resilience, as evidenced by the consistent influx of venture capital (VC), surpassing the $1 billion mark for the second consecutive month. This sustained flow of investment highlights the market’s ongoing expansion and the increasing confidence of investors in the potential of blockchain technologies and digital assets. […]

Unlocking Wealth: Top 10 ways to earn passive income from crypto in 2024

May 8, 2024 | 11:00 am

The post Unlocking Wealth: Top 10 ways to earn passive income from crypto in 2024 appeared first on Coinpedia Fintech News Cryptocurrency has been around for more than a decade and is rapidly becoming a popular way to make money online. The cryptocurrency market is extremely lucrative. There are numerous ways to make money in cryptocurrency, Including cloud mining, alliance programs, staking, liquidity mining, airdrops, etc. In 2024, the cryptocurrency market will continue to offer innovative …

Your Wealth Is Melting: Why Bitcoin Is The Deep Freeze Your Portfolio Desperately Needs

May 8, 2024 | 10:59 am

Originally published on Unchained.com. Unchained is the official US Collaborative Custody partner of Bitcoin Magazine and an integral sponsor of related content published through Bitcoin Magazine. For more information on services offered, custody products, and the relationship between Unchained and Bitcoin Magazine, please visit our website. The following is an excerpt from “Your Wealth is [...] The post Your Wealth Is Melting: Why Bitcoin Is The Deep Freeze Your Portfolio Desperately Needs appeared first on Crypto Breaking News.

UK Official Warns Against Strict Crypto Regulations Amid Political Uncertainty

May 8, 2024 | 10:50 am

The post UK Official Warns Against Strict Crypto Regulations Amid Political Uncertainty appeared first on Coinpedia Fintech News Bim Afolami, Economic Secretary to the Treasury of the UK government, had announced in February 2024, the government’s aim to introduce new regulations for stablecoins and staking services. However, Afolami now advocates for a swift implementation of stablecoin and staking legislation. In spite of the impending general election, Afolami remains confident that these regulations can …

Chainlink Eyes Potential Reversal Amid Downward Pressure: What’s Next For LINK?

May 8, 2024 | 10:45 am

Chainlink (LINK) opened the trading day in the red, reflecting a broader downtrend as it broke through several key support levels. The recent price action has pushed LINK down by 4.26%, moving past strong support points at $14.2 and $14.17, and it is currently stabilizing around $13.8. Chainlink Market Sentiment

Ethereum Proposal by Vitalik Buterin Introduces Advanced Account Abstraction Features

May 8, 2024 | 10:41 am

A new Ethereum Improvement Proposal, EIP 7702, spearheaded by Vitalik Buterin and fellow collaborators, aims to refine account abstraction on the Ethereum network, enhancing quantum resistance and compatibility with existing standards. EIP 7702 Targets Enhanced Security and Compatibility According to the Github summary, EIP 7702 emerges as a pivotal alternative to the existing EIP-3074, addressing […]

Bitcoin Price Predictions Soar: CryptoQuant CEO Forecasts $265K Surge

May 8, 2024 | 10:33 am

The post Bitcoin Price Predictions Soar: CryptoQuant CEO Forecasts $265K Surge appeared first on Coinpedia Fintech News The year 2024 has seen significant momentum for Bitcoin, as prices reached impressive highs but also witnessed recent downturns. In spite of challenges like market volatility and regulatory scrutiny, Bitcoin continued to show resilience and promising growth. Despite Bitcoin’s recent downturn below $62,000, industry experts remain bullish on its future trajectory. CryptoQuant CEO Ki Young …

Exploring BounceBit and Maximizing Rewards through Binance Megadrop

May 8, 2024 | 10:32 am

In the world of cryptocurrencies, innovative platforms continually redefine user engagement and investment opportunities. Among these, BounceBit stands out with its pioneering CeDefi framework, which revolutionizes the way Bitcoin holders can interact with and benefit from their digital assets. Simultaneously, we explore the Binance Megadrop, a novel token launch platform introduced by the cryptocurrency giant […]

Analyst Predicts Solana Rally, Anticipates Surge in Memecoins FLOKI, DOGE, and PEPE

May 8, 2024 | 10:31 am

A popular crypto analyst has made a bold prediction about Solana (SOL) and backed three memecoins to continue surging. The analyst has defined the ongoing SOL phase as the “last dip ever” while predicting a fresh all-time high of $320. A popular crypto analyst going by the name Inmortal on the X platform has shared [...]

Ripple (XRP) Rebounds: Analyst Eyeing $0.93 and $1.68 Targets Amidst Market Surge

May 8, 2024 | 10:30 am

Ripple (XRP) stands resilient as it holds firm its support level and gears up for a potentially significant upward movement. The digital asset has caught the attention of analysts and investors alike with a recent surge of almost 6%, signaling growth in a market marked by fluctuations. As of the reporting time, XRP is trading at $0.522326, […]

Shiba Inu New Users Numbers Surge Signalling Rebound

May 8, 2024 | 10:21 am

According to data from Shibariumscan, the Shiba Inu blockchain network experienced an astounding surge in new users. Within 24 hours, the network welcomed 780 fresh accounts, a remarkable increase from the mere 45 accounts recorded the previous day. This influx of new users has led to a 148% spike in active accounts, jumping from 977 […] The post Shiba Inu New Users Numbers Surge Signalling Rebound appeared first on CoinChapter.

Ripple vs SEC: Unpacking the SEC’s Strategy in the XRP Lawsuit

May 8, 2024 | 10:17 am

The post Ripple vs SEC: Unpacking the SEC’s Strategy in the XRP Lawsuit appeared first on Coinpedia Fintech News Famous crypto influencer ‘MetaLawMan’ who was recently active on Twitter has shedded light on the SEC’s case against Ripple, especially concentrating on the SEC’s recent filing regarding damages and disgorgement. On X he posted hsi assertion that the SEC has not convincingly added anything to the discussion on victims or why disgorgement ought to be …

Whales Jump in to Accumulate Bitcoin; Will BTC Price Make It to $65,000 This Week?

May 8, 2024 | 10:06 am

The post Whales Jump in to Accumulate Bitcoin; Will BTC Price Make It to $65,000 This Week? appeared first on Coinpedia Fintech News The start of the year was pretty bullish for the star crypto, Bitcoin, but with the beginning of the second fortnight of April, the market dynamics changed to a large extent. The BTC price plunged by more than 10% and remains consolidated within a range. Although the bears are trying hard to lift the levels …

Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000

May 8, 2024 | 10:00 am

Thomas Jong Lee, the Chief Executive Officer (CEO) of Fundstrat, an independent financial research boutique, has maintained a bullish stance on Bitcoin. The financial analyst has predicted that the world’s largest cryptocurrency could surge massively, doubling its current price to reach $150,000 during the 2024 crypto market cycle. Bitcoin Could Go Parabolic In 2024 During [...] The post Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000 appeared first on Crypto Breaking News.

Transaction Fees To The Rescue! Bitcoin Miners Find Solace In Network Activity

May 8, 2024 | 10:00 am

For years, Bitcoin miners have toiled away, fueled by the promise of block rewards – newly minted coins earned for validating transactions. But a recent trend is changing the game, with transaction fees quietly usurping block rewards as the primary source of miner income. This shift, while unexpected, presents both opportunities and challenges for the […]

Why Ethereum traders are starting to bet big against ETH’s price

May 8, 2024 | 10:00 am

Ethereum faces increased shorting, sparking fears and speculation about ETH's immediate financial future.

YouTube Influencer ‘Crypto Royal’ Abuzz With Excitement Over BlockDAG’s Latest Developments And $23.6M Presale, Can SUI & Injective Keep Up?

May 8, 2024 | 10:00 am

YouTube crypto influencers are buzzing about BlockDAG‘s technical advancements. After thorough analysis, these influencers recognize the brand’s potential and invest in the brand. This exploration compares the market trends of competitors like SUI and Injective while emphasising BlockDAG’s recent feature on a prominent YouTube channel- “Crypto Royal”. Let’s discover how BlockDAG, featured in an influential [...]

BlockDAG’s Enhanced Roadmap Bolsters Market Position Amid Surging Predictions & Shiba’s Potential Rise

May 8, 2024 | 09:55 am

As Shiba Inu’s value might climb, BlockDAG is capturing significant attention with its recently enhanced roadmap. The updated strategy reflects deep technical upgrades and new features aimed at bolstering BlockDAG’s infrastructure, which has significantly increased presale, with predictions now setting the coin’s future price at $30 by 2030. This development positions BlockDAG as a leading […]

Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash

May 8, 2024 | 09:55 am

The hacker who looted the crypto exchange Poloniex has started moving Ethereum (ETH) to the mixing service Tornado Cash, according to the digital asset de-anonymizing platform Arkham. Arkham notes the hacker moved 1126.1 ETH worth more than $3.4 million into Tornado Cash across a series of 20 transactions on Monday and Tuesday. They represent the […] The post Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash appeared first on The Daily Hodl.

Polkadot rolls out asynchronous backing to boost network efficiency and transaction speed

May 8, 2024 | 09:54 am

Polkadot has implemented asynchronous backing, a pivotal upgrade enhancing the network’s flexibility in blockspace allocation and overall performance. The upgrade is one of the three technological advancements, alongside Elastic Scaling and Agile Coretime, driving the blockchain towards its Polkadot 2.0 vision. Asynchronous Backing According to Polkadot, asynchronous backing provides an optimized approach for validating parachain […] The post Polkadot rolls out asynchronous backing to boost network efficiency and transaction speed appeared first on CryptoSlate.

Ripple up in arms against the SEC

May 8, 2024 | 09:45 am

A short while back, the SEC came out with a backed alternate report that stated that it stands by its position of believing that Ripple will repeat its misdemeanor, though the company has caused no trouble following the lawsuit against it in 2020. However, Ripple CLO accuses the SEC of being unfaithful in its application …

Zero-Knowledge Startup Lagrange Labs Raises $13.2M to Revolutionize EigenLayer

May 8, 2024 | 09:44 am

TL;DR Lagrange Labs secures funding of $13.2 million, led by Founders Fund and supported by major investors and partners. The financing will boost the development of the ZK Hyperparallel Coprocessor and State Committee products, in addition to expanding its project ecosystem. The Company has evolved towards innovative solutions based on zero-knowledge proofs and verifiable computing. ... Read more

El Salvador’s Bitcoin Beach Launches Campaign To Advance Circular BTC Economies Worldwide

May 8, 2024 | 09:40 am

Bitcoin Beach, in collaboration with Geyser and the Federation of Bitcoin Circular Economies (FBCE), has announced the Bitcoin Beach Grants round, aimed at advancing Bitcoin circular economies globally. This initiative aims to support emerging Bitcoin circular economies seeking growth through local Bitcoin education, merchant adoption, and community initiatives with Bitcoin. 🌎 Exciting News! Introducing a [...] The post El Salvador’s Bitcoin Beach Launches Campaign To Advance Circular BTC Economies Worldwide appeared first on Crypto Breaking News.

AltSeason Does Not Appear Within Limits; Here is What a Popular Analyst Has to Say!

May 8, 2024 | 09:32 am

The post AltSeason Does Not Appear Within Limits; Here is What a Popular Analyst Has to Say! appeared first on Coinpedia Fintech News The speculations over the BTC price rally have been varying in the past few days as the star crypto is facing pressures on either side. The bulls display strength for a while, which is followed by bearish actions. These constant fluctuations have kept market participants on the edge and compelled them to accumulate at small …

Grayscale Withdraws Ethereum ETF Proposal Amid Skepticism Over SEC Approval

May 8, 2024 | 09:31 am

Grayscale has retracted its application to list its ethereum trust, known as ETHE, as detailed in a filing with the U.S. Securities and Exchange Commission. James Seyffart, a Bloomberg analyst specializing in exchange-traded funds (ETF), expressed puzzlement over Grayscale’s decision to do so. Grayscale’s Strategic Ethereum Trust Retraction Filing Raises Questions Per a filing with […]

19b-4 Ethereum ETF Filing Axed: Grayscale’s Bold Move

May 8, 2024 | 09:30 am

With its recent withdrawal of the 19b-4 filing for an Ethereum futures exchange-traded fund (ETF), Grayscale, the leading cryptocurrency asset manager, has stirred up the financial world. This unexpected move has puzzled many industry experts, sparking speculation about Grayscale’s motives and plans. James Seyffart, a prominent ETF analyst, described the filing as a “Trojan horse,” […]

Toncoin (TON) Listed on HashKey Exchange for Professional Traders

May 8, 2024 | 09:23 am

In April, it was reported that the TON Foundation and the HashKey Group had formed a strategic alliance to strengthen the TON Ecosystem’s capacity to administer its treasury in the Asia-Pacific area. The two organizations have joined forces in an attempt to improve the TON Ecosystem’s infrastructure and operational efficiency

Dogecoin could lead the meme coin bull run, analyst suggests

May 8, 2024 | 09:22 am

On May 7, the price of Dogecoin stood at 0.15 USD and increased by 19.51% over the last 7 days. Crypto analysts suggest a promising potential for a meme-coin rally in May, not just for DOGE but other meme-tokens as well. The prevailing discussion regarding the established memecoin revolves around its price stability as opposed …

Cathie Wood Led Ark Invest Sells $15.1 Million Worth of Coinbase Shares

May 8, 2024 | 09:13 am

Across three of its exchange-traded funds, Ark Invest led by Cathie Wood sold 70,616 shares of Coinbase on Tuesday, for a total of $15.1 million. Recent trade filings show that the investment business headed by Cathie Wood sold 45,915 shares ($9.8 million) from its Innovation ETF (ARKK), 17,755 shares ($3.8

Singapore Revisits Terraform Labs' Collapse, Clarifies Licensing Irregularities

May 8, 2024 | 09:07 am

Singapore has disowned the collapsed cryptocurrency project Terraform Labs, saying the platform was not performing activities requiring a license from the MAS and was neither licensed nor exempted from licensing by the regulator. The city-state has also downplayed the impact of the Terraform Labs saga on its financial systems.Responding to a question by a Member of Parliament, Lawrence Wong, the Deputy Prime Minister and Minister for Finance and Chairman of the MAS, said that the collapse of Terraform Labs sparked concerns about regulatory oversight and investor protection in the cryptocurrency market. The event has prompted Singaporean authorities to reevaluate and reinforce regulations to mitigate risks in the sector.Enhancing Regulatory MeasuresIn response to the incident, the MAS has implemented several measures to bolster the regulatory framework for cryptocurrency investment firms operating in Singapore. These measures aim to enhance consumer protection and mitigate risks associated with cryptocurrency trading.MAS mentioned: "We also remind those who trade cryptocurrencies that the MAS' rules and regulations cannot prevent monetary losses arising from such activities. Consumers must be aware of the risks of doing so and understand that cryptocurrencies are highly volatile and have no intrinsic value."MAS has introduced new measures focused on retail consumers, aligning with international standards for regulating crypto assets. These measures include assessing customer awareness of risks before granting access to trading, prohibiting incentivized trading offers, and restricting the provision of credit or leverage to consumers.Additionally, the MAS has imposed business conduct requirements on cryptocurrency platforms to ensure proper segregation and custody of customers' assets, mitigate conflict of interest, and implement risk management processes. These enhanced measures will be implemented in phases commencing this year.Educational OutreachMAS emphasized the importance of consumer awareness regarding cryptocurrency trading risks. While regulations can mitigate certain risks, consumers must understand the volatile nature of cryptocurrencies and their lack of intrinsic value. Ultimately, investors bear responsibility for their investment decisions in the crypto market.Meanwhile, the Securities and Exchange Commission (SEC) of the United States is seeking $5.3 billion from Terraform Labs and its Co-Founder, Do Kwon. This demand, comprising recovery and civil penalties, follows a court ruling that found Terraform and Kwon guilty of fraud.The SEC's motion, recently filed with the US District Court for the Southern District of New York, outlined the regulator's pursuit of $4.7 billion in disgorgement and prejudgment interest from the bankrupt Terraform Labs. Additionally, the SEC is seeking civil penalties totaling $520 million, with $420 million directed toward Terraform and $100 million toward Kwon.In response, Terraform and Kwon's legal representatives have proposed significantly lower penalties, suggesting a maximum of $3.5 million for Terraform and $800,000 for Kwon. The court is expected to deliver a verdict on the motion. This article was written by Jared Kirui at www.financemagnates.com.

Cardano price prediction – Perfect time to buy ADA after 25% dip?

May 8, 2024 | 09:00 am

ADA has hinted at the possibility of a price rise. But is it just a short-term rally?

Crypto Expert Weighs In On ETH/BTC Pair’s Recent Decline

May 8, 2024 | 09:00 am

Amid turbulence surrounding the crypto market, popular founder and Chief Executive Officer (CEO) of Into The Cryptoverse Benjamin Cowen has taken the spotlight to shed his insights on the recent downtrend observed in the Ethereum/Bitcoin (ETH/BTC) pair. Cowen’s views examine the complex relationship between Ethereum and Bitcoin pricing and the potential for further downside risk. According to Benjamin Cowen, the ETH/BTC pair is currently on the downside, and the last 2 times that the pair declined, ETHUSD witnessed a steep decline of around 70%. Given that the crypto community has been eagerly anticipating an Altcoin season for the past 2.5 years, Cowen thinks it is crucial to warn the community that there is still a possibility of a downward movement. ETH/BTC Pair Rejected By The Bull Market Band Cowen has also confirmed that ETH/BTC is presently being rejected by the bull market support band, which he previously predicted days back due to a price pump. “I would expect it (ETH/BTC) to be rejected by the bull market support band, at least when looking at weekly closes ($0.053-$0.054),” he stated. He further noted that the pump appears to be mirroring the last cycle of rate cuts right before summer capitulation. Related Reading: Cracking the Crypto Code: ETH/BTC Signals The Next Altcoin Explosion – Here’s How Following the launch of Bitcoin Spot Exchange-Traded Funds (ETFs), Cowen mentioned that ETH/BTC saw a sharp rally. The analyst affirms that the rally was probably similar to the trend of the previous bull cycle, ushering in new lows. Furthermore, Cowen stated that there has been an unquestionable macro downtrend since November 2021, particularly following the merger of the ETH/BTC pair. However, it is also evident that the market did not decrease abruptly. As a result, investors held ETH instead of BTC all the way down from 0.085 to 0.048 because of the multiple lower highs, giving the impression that it was holding up quite well. Prior to the Bitcoin Halving, Cowen predicted that the bull market support band would reject ETH/BTC, at least when considering weekly closes ($0.053-$0.054), should there be a rebound after the Halving, similar to that witnessed with BTC spot ETF launch. Regardless of what occurs, the expert is confident that ETH/BTC will reach between $0.03 and $0.04 by this summer. Heightened Divergence Between Ethereum And Bitcoin Being the two leading cryptocurrency assets, there is great interest surrounding Ethereum and Bitcoin. However, on-chain analytics firm Glassnode has highlighted a shift in performance between both digital assets. Related Reading: Ethereum Trouncing Bitcoin, ETH/BTC Ratio Bouncing Higher: Will This Trend Continue? According to the firm, the performance of Ethereum and Bitcoin has been increasingly diverging so far in the 2023–2024 cycle. This is due to poorer performance in ETH price, which is explained by a generally weaker trend in capital rotation. In addition, this is evident when particularly compared to preceding cycles and all-time highs. Featured image from iStock, chart from Tradingview.com

Solana surges, Shiba Inu dips, and Furrever Token Hits $1 Million milestone: Last 24 hours to Join $10,000 Giveaway Competition

May 8, 2024 | 09:00 am

The post Solana surges, Shiba Inu dips, and Furrever Token Hits $1 Million milestone: Last 24 hours to Join $10,000 Giveaway Competition appeared first on Coinpedia Fintech News In a dynamic crypto market, trends shift rapidly. You can see that clearly as Solana shines bright with its upward trajectory, while Shiba Inu experiences a slight dip. Two days ago, both coins were surging like crazy. Meanwhile, Furrever Token (FURR) reaches a significant milestone, surpassing $1 million in its presale journey in just two …

Proposal for Ethereum Grayscale Ethereum ETF is No More

May 8, 2024 | 09:00 am

Application for Grayscale Ethereum Futures Trust FTF was withdrawn on 3rd May 2024. The Securities and Exchange Commission had delayed decisions on spot Ethereum Exchange Traded Funds over the past months. A document filed recently indicates that a proposal for listing and trading shares of Grayscale’s Ethereum ETFs has been withdrawn. According to the Securities …

Crypto Expert Weighs In On ETH/BTC Pair’s Recent Decline

May 8, 2024 | 09:00 am

Amid turbulence surrounding the crypto market, popular founder and Chief Executive Officer (CEO) of Into The Cryptoverse Benjamin Cowen has taken the spotlight to shed his insights on the recent downtrend observed in the Ethereum/Bitcoin (ETH/BTC) pair. Cowen’s views examine the complex relationship between Ethereum and Bitcoin pricing and the potential for further downside risk. [...] The post Crypto Expert Weighs In On ETH/BTC Pair’s Recent Decline appeared first on Crypto Breaking News.

Nigeria Denies Binance's Bribery Allegations amidst Crypto Clash

May 8, 2024 | 08:49 am

In a rebuttal against accusations of bribery levelled by Binance Holdings Ltd, Nigeria has refuted claims made by the cryptocurrency firm, dismissing them as a diversionary tactic. The West African nation has been involved in a boisterous saga with Binance.Binance's Allegations of Bribery in NigeriaThe rift deepened following a blog post penned by Binance's Chief Executive Officer, Richard Teng, alleging coercive demands for a "secret" payment to resolve issues within Nigeria. Teng's revelation ignited a firestorm, casting a shadow over the already strained relationship between Binance and Nigerian authorities.The alleged bribery attempts purportedly occurred during a meeting between Binance representatives and Nigerian officials in Abuja earlier this year. Teng claimed that Binance staff were accosted by unidentified individuals post-meeting, soliciting a significant cryptocurrency payment within 48 hours to ostensibly quell criminal allegations.Binance Says It Was Asked for ‘Secret’ Payment Over Nigeria Woes.“As our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations” — Binance CEO, Richard Teng.Later that day, Binance’s… pic.twitter.com/exeWlbEF9g— Instablog9ja (@instablog9ja) May 7, 2024“Teng made false allegations of bribery against unidentified Nigerian government officials who he claimed demanded $150 million in cryptocurrency payments to resolve the ongoing criminal investigation against the company,” the Ministry of Information spokesman Rabiu Ibrahim said. “This claim by Binance CEO lacks any iota of substance. It is nothing but a diversionary tactic.”Binance Employee Detained in Nigeria Faces Multiple ChargesTigran Gambaryan, a Binance employee, remains in custody facing charges of tax evasion, currency speculation, and money laundering, following his colleague's escape. The trial for Gambaryan is set to commence this month, adding fuel to the ongoing legal skirmish.Binance's entanglement with Nigerian authorities is further complicated by the detention of two of its employees and the subsequent ban on its operations in the country. Despite assurances of safe passage, Gambaryan and his colleague, Nadeem Anjarwalla, found themselves promptly arrested upon their return to Nigeria in late February. This article was written by Tareq Sikder at www.financemagnates.com.

Penguiana Memecoin Presale Secures Over 500 SOL In Record Time

May 8, 2024 | 08:41 am

Penguiana, a novel meme coin project, has stormed the Solana ecosystem. During its presale launch last Friday, it raised a staggering 500 SOL in record time. Unlike typical meme coins that often fade into obscurity, Penguiana is carving out its niche by blending the exciting features of penguins with the burgeoning world of play-to-earn gaming. […]

Arbitrum DAO seeks opportunities to invest in real-world assets

May 8, 2024 | 08:40 am

Some crypto companies have expressed their willingness to help Arbitrum diversify their holdings. Arbitrum is planning to invest 35 million ARB tokens valued at $37 million in liquid and stable assets. More than twenty-four companies pitched their products in a recently held open call, including DeFi protocol Frax, Centrifuge, and Ondo. The remarkable list of …

Vitalik Buterin’s Exclusive Ethereum Proposal: 7702 Challenges Blockchain Norms

May 8, 2024 | 08:30 am

Ethereum, the leading blockchain platform, is once again at the forefront of innovation. Vitalik Buterin, Ethereum’s co-founder, alongside co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett, has introduced Ethereum Improvement Proposal (EIP) 7702, a groundbreaking alternative to EIP-3074. This proposal aims to refine account abstraction on the Ethereum network, potentially reshaping its future landscape. EIP-7702 […]

Why Does Bitcoin Still Require Correction After ETF and Halving? Why Are Markets Perplexed Following a Bullish Event?

May 8, 2024 | 08:28 am

The post Why Does Bitcoin Still Require Correction After ETF and Halving? Why Are Markets Perplexed Following a Bullish Event? appeared first on Coinpedia Fintech News A fresh wave of volatility has hit the crypto markets as the prices of the majority of the cryptos have been fluctuating close to their support levels. Meanwhile, the Bitcoin price is also facing equal bullish and bearish pressure, which suggests a major price action is on the horizon. However, the question remains why the …

The Ethereum Metaverse Network Got Meme: ethX is changing staking using blockchain technology

May 8, 2024 | 08:27 am

ethXverse Staking pools allow multiple token holders to pool their tokens together, granting the staking pool operator validator status. The post The Ethereum Metaverse Network Got Meme: ethX is changing staking using blockchain technology appeared first on Crypto Breaking News.

Top DeFi Coins: Raboo, Uniswap, and Aave – Which Is the Best Long-Term Crypto?

May 8, 2024 | 08:21 am

As the market becomes increasingly volatile, crypto adherents search for the best long-term crypto. Besides top DeFi coins like Uniswap and Aave, Raboo stands out as a remarkable prospect for substantial revenues in 2024. This project has already raised over $1 million in stage three of its ongoing presale, with experts suggesting a 100x growth […]

Solana DePIN Ambient gears up with new funding and acquisition

May 8, 2024 | 08:20 am

Solana DePIN Ambient, a pioneering decentralized ambient intelligence platform, has successfully raised funds in a pre-token launch fundraising round. This significant milestone comes as the platform prepares for its official token launch and underscores investor confidence in Solana DePIN Ambient’s vision of revolutionizing ambient computing and data processing. In a strategic move aimed at bolstering …

‘Creditors of FTX’ to receive 100% – 118% payout: Crypto exchange CEO

May 8, 2024 | 08:00 am

Some creditors will get more than 100% of their claims if FTX’s plan is approved

Forget The Price Dip: Ethereum Network Activity Hints At Imminent Takeoff

May 8, 2024 | 08:00 am

Ethereum, the world’s second-largest cryptocurrency by market cap, finds itself in a curious position. While the price struggles for direction, its underlying network is experiencing a surge in activity. Related Reading: Whispers In The Deep: Why Are Ethereum Whales Disappearing? Ethereum Network Sees Increase In New Users According to crypto data firm Santiment, May 4th saw a whopping 200,000 new Ethereum addresses created, marking the highest single-day growth in nearly two years. This surge suggests a renewed interest in the Ethereum ecosystem, potentially driven by factors like the burgeoning Decentralized Finance (DeFi) space and the ever-evolving world of Non-Fungible Tokens (NFTs). 📈 #Ethereum rebounded back above $3,200 this weekend, and saw massive network growth. 196.71K new addresses were created on the $ETH network on May 4, 2024, the largest single day of growth since October 8, 2022. This should be viewed as a #bullish sign. https://t.co/l9iFVWCJpE pic.twitter.com/MlHQTvKKN0 — Santiment (@santimentfeed) May 6, 2024 This network growth is a bullish signal, and indicates strong and increasing interest in Ethereum, which could translate to significant capital inflows when macroeconomic conditions become more favorable. Is The Price Dip A Buying Opportunity? While the network thrives, Ethereum’s price currently sits at $2,995, a 1.8% decline in the past 24 hours. This puts it precariously close to falling below its 200-day Exponential Moving Average (EMA), a technical indicator often interpreted as a sign of bearish momentum. However, a closer look reveals a potentially bullish twist. The price decline is accompanied by a drop in trading volume, which could indicate that selling pressure is waning. Historically, such a scenario has sometimes preceded a price reversal, where buyers re-enter the market, pushing prices upwards. Total crypto market cap currently at $2.2 trillion. chart: TradingView Investor Optimism Buoyed By Potential Fed Pivot The recent weakness in the US economy, highlighted by a disappointing jobs report, has sparked speculation that the Federal Reserve might consider easing interest rates. This could inject fresh liquidity into the market, potentially benefiting riskier assets like cryptocurrencies. According to analysts, a dovish pivot from the Federal Reserve could be a game-changer for Ethereum. Lower interest rates generally make holding cryptocurrencies more attractive compared to traditional fixed-income investments. Ether seven-day price action. Source: CoinMarketCap The future path of Ethereum remains uncertain. While the network’s fundamentals appear robust, the price faces immediate challenges. Navigating this complex scenario will require investors to carefully consider both the on-chain activity and the broader economic landscape. Regulation and Innovation: Key Factors to Watch Regulatory clarity around cryptocurrencies will undoubtedly play a crucial role in attracting institutional investors, a potential catalyst for significant price growth. Related Reading: Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price? Featured image from Book My Flight, chart from TradingView

FTX plan promises 118% cash payout to nearly all creditors

May 8, 2024 | 08:00 am

FTX, the collapsed virtual currency exchange platform, promises to repay 98% of its creditors, with the amount owed improved by 118% within two months after getting the nod from the court. During the meeting on Tuesday, a revised plan was presented, which raises the prospects of financial recovery and includes comprehensive repayment for all non-governmental …

Forget The Price Dip: Ethereum Network Activity Hints At Imminent Takeoff

May 8, 2024 | 08:00 am

Ethereum, the world’s second-largest cryptocurrency by market cap, finds itself in a curious position. While the price struggles for direction, its underlying network is experiencing a surge in activity. Ethereum Network Sees Increase In New Users According to crypto data firm Santiment, May 4th saw a whopping 200,000 new Ethereum addresses created, marking the highest [...] The post Forget The Price Dip: Ethereum Network Activity Hints At Imminent Takeoff appeared first on Crypto Breaking News.

Kazakhstan sets up new committee to spearhead AI advancements

May 8, 2024 | 08:00 am

With artificial intelligence’s growing popularity, Kazakhstan established a new committee whose key role revolves around the development and implementation of legislations tied to AI. [...] Read More... The post Kazakhstan sets up new committee to spearhead AI advancements appeared first on CoinGeek.

Shiba Inu Holder Reveals Jaw-Dropping 1,865,428% ROI, Surpassing Bank Savings

May 8, 2024 | 07:54 am

Debate on choosing between tokens like Shiba Inu and a conservative strategy of depositing money in banks for better yield has been put to bed in an interesting twist. Banks are reported to have a typical annual yield of between 0.01% and 0.3% while Shiba Inu alone has a 1,865,428% ROI. Shiba Inu (SHIB) made [...]

New era of Blockchain innovation: HTX partners with Astar Network

May 8, 2024 | 07:46 am

HTX, the industry’s top asset exchange, has partnered with Astar Network on the recently established TGE Catalyst Grant. Astar Network is a blockchain that aims to become Polkadot’s smart contract hub. According to industry sources, the Astar Network will serve as an efficient parachain for Polkadot. It marks a critical milestone in the ambitious path …

Arbitrum Breaks Milestone: Surpasses $150 Billion in Uniswap Transaction Volume

May 8, 2024 | 07:36 am

Arbitrum is on the rampage with over $150 billion in Uniswap trade volume. Arbitrum is deepening its push to dominate the Ethereum L2 scene. Arbitrum (ARB), a Layer-2 scaling protocol built on Ethereum, said it exceeded $150 billion in transaction volume on the decentralized exchange Uniswap. This marks a key milestone for Arbitrum as it [...]

Ark Invest Offloads $15 Billion Worth Coinbase Shares Pulling Down COIN’s Price

May 8, 2024 | 07:35 am

The post Ark Invest Offloads $15 Billion Worth Coinbase Shares Pulling Down COIN’s Price appeared first on Coinpedia Fintech News Cathir Wood’s Ark Invest sold $15 billion worth of 70,600 Coinbase shares which has sparked speculations over its impact. Cathie Wood clarified it as not a case of dumping, but active portfolio management and emphasized that Coinbase remains a top position in Ark Invest’s holdings indicating confidence in the company’s long-term prospects. Woods also mentioned …

Mastercard And Major US Banks Collab To Test Tokenized Asset Settlement

May 8, 2024 | 07:33 am

The post Mastercard And Major US Banks Collab To Test Tokenized Asset Settlement appeared first on Coinpedia Fintech News Mastercard’s disruptive collab with leading US banks to trial shared ledger technology for settling tokenized assets aims to simulate transactions in dollars improving cross-border transaction efficiency and reducing the risk of error and fraud. The assets include commercial-bank money, Treasury securities, and investment-grade debt securities. The ledger technology will recast the financial landscape. Notable participants …

Mixed Fortunes for US Bitcoin Funds as GBTC Losses Offset Other Gains

May 8, 2024 | 07:33 am

Following two days of positive inflows, U.S. spot bitcoin exchange-traded funds (ETFs) experienced a decline, with $15.7 million exiting on Tuesday. Grayscale’s Bitcoin Trust (GBTC) saw $29 million leave during the day’s trading sessions, overshadowing the break-even and positive reports from the other spot bitcoin funds. Fidelity, Ark Invest, Invesco Report Gains While GBTC Struggles […]

FTX’s Reorganization Plan Proposes Creditors May Receive Up to 118% of Claims

May 8, 2024 | 07:30 am

Crypto exchange FTX fights to recover from a dramatic collapse. On May 7, 2024, the firm filed a revised reorganization plan in U.S. bankruptcy court, outlining a potential $14.5 billion to $16.3 billion distribution to creditors and customers. This marks a significant step for the troubled exchange, offering hope to those affected by its November […]

On-Chain Analyst Willy Woo Says Bitcoin Setting Up To Potentially Reach ‘Escape Velocity’ – Here’s Why

May 8, 2024 | 07:30 am

On-chain analyst Willy Woo thinks Bitcoin (BTC) could be primed to surge in price. Woo tells his 1.1 million followers on the social media platform X that the top crypto asset is flashing a bullish divergence “with lots of room to run” on its volume-weighted average price (VWAP) oscillator chart. “Seems like a good setup […] The post On-Chain Analyst Willy Woo Says Bitcoin Setting Up To Potentially Reach ‘Escape Velocity’ – Here’s Why appeared first on The Daily Hodl.

Ancient8 partners with Supra to enhance Web3 gaming on Ethereum

May 8, 2024 | 07:25 am

Ancient8 forges an exclusive collaboration with Supra, which will strengthen gaming studios by providing tools for games on Ethereum. The incorporation has been done with Supra’s DORA price feeds within Ancient8’s chain, offering connectivity with correct and dependable price data related to multiple assets like cryptocurrencies and others. This strengthens builders in the Ancient8 ecosystem …

Bitcoin accumulation fails to keep pace with issuance

May 8, 2024 | 07:24 am

Quick Take Over the past 30 days, entities across all cohorts have accumulated just over 10,000 BTC. This rate of accumulation has not kept up with the approximately 19,000 BTC issued during that same timeframe. Before the halving, Bitcoin’s monthly issuance stood at 27,000 BTC but reduced to 13,500 BTC after the halving. However, looking […] The post Bitcoin accumulation fails to keep pace with issuance appeared first on CryptoSlate.

Legal Blow for Cristiano Ronaldo as Judge Denies Dismissal Motion

May 8, 2024 | 07:17 am

In a legal blow to Cristiano Ronaldo, the famed Portuguese soccer star, the judge overseeing the $1 billion class action lawsuit against him has rejected his motion to dismiss the case. The lawsuit, filed in Florida, accuses Ronaldo of endorsing Binance, which allegedly led investors into making costly and risky investments.Ronaldo's Motion Denied in Binance NFT LawsuitJudge Roy Altman's ruling, issued on May 4, followed a request from the plaintiffs to stay proceedings until a ruling on a motion to compel arbitration. Simultaneously, the judge denied Ronaldo's motion to dismiss the case, stating: "We deny without prejudice the Defendant's 29 motion to dismiss."The lawsuit revolves around Ronaldo's promotion of Binance, particularly in relation to a collection of non-fungible tokens (NFTs) launched in partnership with the soccer star in November 2022, called "CR7." Through social media endorsements and other promotional activities, Ronaldo encouraged fans to invest in Binance, promising rewards and emphasizing the potential of NFT investments.Cristiano Ronaldo Suffers Legal Blow For Promoting ‘Unsafe’ CR7 NFTs by Cryptocurrency Exchange Binance#CR7 | #CristianoRonaldo | #Cryptocurency https://t.co/aBXitJjvU3— LatestLY (@latestly) May 8, 2024Back in November 2022, Finance Magnates reported that Ronaldo, was set to unveil his inaugural non-fungible token (NFT) collection exclusively on the Binance NFT marketplace. This launch marks the culmination of a multi-year partnership deal between the Portuguese star and Binance, initiated nearly five months ago. Binance announced that the collection aims to provide Ronaldo's fans with an introduction to Web3 through the realm of NFTs. The partnership aimed to facilitate broader blockchain understanding while also showcasing Binance's role in building Web3 infrastructure for the sports and entertainment sector.Arbitration Stay Granted in Binance Endorsement LawsuitRonaldo's endorsements of Binance extended to his Instagram account, where he frequently touted the exchange and its associated products. Despite the legal action, Ronaldo's publicist has not yet provided comment on the matter.The plaintiffs in the lawsuit are seeking damages exceeding $1 billion, alleging that Ronaldo's endorsements led them into making investments that resulted in financial losses. Their request for the case to be stayed for arbitration, which would involve a third party resolving the dispute, has been granted by Judge Altman. This article was written by Tareq Sikder at www.financemagnates.com.

Revolutionizing Revenue: How Hydro Online Enhances Traditional Website Monetization Models

May 8, 2024 | 07:15 am

In the evolving landscape of digital content, website monetization remains a pivotal challenge for publishers. […]

Argentina Will Have Its Own Bitcoin Mining Center Using Repurposed Gas

May 8, 2024 | 07:12 am

TL;DR GDA and YPF Luz have established a partnership to develop a Bitcoin mining facility in Argentina, utilizing stranded gas from oil fields. The plant, located in Rincón de Los Sauces, Neuquén, has a capacity of 7 MW and houses 1,200 BTC mining machines. The techniques employed not only prevent environmental damage by reusing stranded ... Read more

Cardano notices fluctuations in the last 4 days: $0.48 peak, 10% drop

May 8, 2024 | 07:05 am

Sentiments are largely negative within the Cardano ecosystem, with selling emotions overriding the need for accumulation. ADA was last seen exchanging hands at $0.441, which is lower than the peak of $0.48, true as of May 4, 2024. The support level has now been set at $0.44. Cardano has shed a lot of weight as …

Solana’s Surge: On Track to Overtake Ethereum in Transaction Fees Within Days

May 8, 2024 | 07:01 am

TL;DR Impending Milestone: Solana is on the verge of potentially surpassing Ethereum in transaction fees, a significant achievement for its reputation as an “Ethereum-killer.” Scalability and Costs: Solana’s approach to scalability aims to provide low transaction costs within its own ecosystem, contrasting with Ethereum’s layer-2 solutions. However, recent network disruptions have raised concerns about Solana’s ... Read more

Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million

May 8, 2024 | 07:00 am

The recent unimpressive price action of Bitcoin is playing out in the minds of institutional investors, with recent data highlighting their bearish sentiment. This has led to a wave of massive outflows from Bitcoin investment products, which could negatively impact the flagship crypto. Bitcoin Investment Products Record $284 Million Of Outflows CoinShares revealed in a blog post that Bitcoin investment funds recorded an outflow of $284 million last week. Most of these outflows are said to have come from the US Spot Bitcoin ETFs, which saw outflows of $156 million last week. CoinShares noted that last week was the first time these funds recorded such a measurable amount of outflows. Related Reading: Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing These US Spot Bitcoin ETFs indeed had a week to forget last week, as even BlackRock’s iShares Bitcoin Trust (IBIT) recorded its first day of outflows since launch, with almost $37 million exiting the fund. CoinShares suggested that the magnitude of outflows was likely due to Bitcoin dropping below $62,000, which they estimate is the average purchase price of these ETFs since launch. Therefore, they claim that Bitcoin’s decline may have triggered automatic sell orders. Before now, institutional investors had already shown mixed feelings towards these funds thanks to Bitcoin’s recent price action. As such, it makes sense that Bitcoin dropping below $60,000 made them panic sell instead of holding their positions. Despite this development, CoinShares noted that the Spot Bitcoin and Ethereum ETFs in Hong Kong which launched last week, were a bright spot, recording $307 million in inflows in the first week of trading. The launch of these funds could prove timely, with Bitcoin needing a catalyst to continue its upward trend. Interestingly, CoinShares revealed that Bitcoin was the only crypto asset to record outflows. On its part, Ethereum broke its seven-week streak of recording outflows, with $30 million flowing into Ethereum investment products. Other altcoins like Avalanche, Cardano, and Polkadot also saw inflows. Spot Bitcoin ETFs Still Not In The Clear With Grayscale’s GBTC recording its first day of net inflows last week, there was the feeling that such development could spark a turnaround in the outflows that the Spot Bitcoin ETFs have been recording. However, that hasn’t been the case. On May 7, these funds recorded a net outflow of $15.7 million. Related Reading: Here’s How This Ethereum Whale Made $16 Million From A Single Trade GBTC was again the primary culprit, with the fund seeing a net outflow of $28.6 million. These outflows have continued to affect Bitcoin’s price negatively, given the amount of selling pressure it is piling on the flagship crypto. At the time of writing, Bitcoin is trading at around $62,300, down over 2% in the last 24 hours, according to data from CoinMarketCap. BTC price at $62,300 | Source: BTCUSD on Tradingview.com Featured image from The Independent, chart from Tradingview.com

Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million

May 8, 2024 | 07:00 am

The recent unimpressive price action of Bitcoin is playing out in the minds of institutional investors, with recent data highlighting their bearish sentiment. This has led to a wave of massive outflows from Bitcoin investment products, which could negatively impact the flagship crypto. Bitcoin Investment Products Record $284 Million Of Outflows CoinShares revealed in a [...] The post Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million appeared first on Crypto Breaking News.

Ethereum struggles around $3K as short positions surge: What now?

May 8, 2024 | 07:00 am

The consecutive liquidation of long positions has led to more Ethereum traders taking short positions.

Robinhood favored to prevail in potential crypto court case against SEC

May 8, 2024 | 06:42 am

Analysts at Keefe, Bruyette & Woods (KBW) have weighed in on the potential legal battle between Robinhood and the U.S. Securities and Exchange Commission (SEC), expressing confidence that the popular trading platform would likely emerge victorious in any crypto-related court case. This assessment comes amidst escalating tensions between Robinhood and the SEC over the company’s …

Crypto Regulations Are Imminent, but Will the Regulators Align?

May 8, 2024 | 06:40 am

Regulatory change in the crypto realm has been a subject of heated debate for many years. The general ethos of cryptocurrency is one of anarchism or anarcho-capitalism. Proponents of the tech tend to be adamantly against any type of governmental intervention into markets or technology.However, as digital assets and blockchain technology find themselves thrust into the mainstream, governments must respond. They must either incorporate these assets into existing regulations or create a new regulatory framework altogether. Lets look at how crypto regulations have evolved over the years, with a focus on US regulation.Background: Crypto Regulation in the USMuch of the conversation surrounding cryptocurrency regulation in the US has been focused on something called the Howey Test. Having its roots in a landmark Supreme Court case from 1946, The Howey Test provides the criteria used to determine whether or not something can be considered a security, aka an investment contract.The test has four parts, and says that a security is:1. An investment of money; 2. In a common enterprise; 3. With the expectation of profit; and 4. Those profits being derived from the efforts of others. If an investment aligns with all four of these precepts, then it can be considered a security, meaning it falls under the regulatory jurisdiction of the Securities and Exchange Commission (SEC).The Howey Test is almost 80 years old. Applying it to new technologies like cryptocurrencies can be difficult. However, many have argued that most cryptocurrencies do constitute investment contracts that meet the criteria of the Howey Test.Bitcoin may be an exception, as the SEC has intimated that BTC looks more like a commodity. This reasoning was part of what led to the approval of spot Bitcoin ETFs in the US in January 2024.Let’s get this thing straight. Crypto is a part of the global financial ecosystem now. No government can wish it away. That being said, if we’re not to undo the years of work towards cleaning up our financial system, we absolutely have to get the regulation right. While… pic.twitter.com/sgDMnG0YSn— Orekelewa (@orekelewa_etc) May 4, 2024A Timeline of Cryptocurrency RegulationBetween 2009, when Bitcoin was invented, and 2013, there were only a few significant developments in cryptocurrency regulation. These included: The shutdown of the Silk Road marketplace and seizure of its Bitcoin by the Federal Bureau of Investigation (FBI), and A seizure order being issued to Dwolla, a subsidiary of the Mt. Gox crypto exchange, by the Department of Homeland Security (DHS).Silk Road was a Bitcoin marketplace used in part for the sale of illicit substances. Its founder, Ross Ulbricht, was sentenced to two life sentences in prison without the possibility of parole. On the other hand, Mt. Gox was an exchange responsible for 70% of Bitcoin trading at the time.These two enforcement actions were the first known measures taken against cryptocurrency by authorities.In 2014, the Internal Revenue Service (IRS) issued guidance classifying cryptocurrency as a form of property, making it subject to capital gains taxes. Up until this point, there were no tax implications for any types of cryptocurrency gains or losses.It’s interesting to note that while the IRS claims crypto to be property, other agencies like the FBI see it as a form of currency. This illustrates the lack of clear regulatory guidance that exists and the resulting difficulties in compliance facing consumers, companies, and institutions.Later, in 2020, the IRS would add a question to US tax returns asking taxpayers if they had sold any cryptocurrency in the last year.In 2016, the first John Doe summons was issued to Coinbase, the largest US-based crypto exchange platform. A John Doe summons is a request by the IRS to acquire information about a group of unnamed taxpayers. Coinbase eventually handed over information on about 14,000 US taxpayers who made transactions totaling $20,000 or more. The IRS then notified these individuals that they must amend past tax returns to avoid penalties and fines.the FBI calls crypto money so they can arrest you for money launderingthe IRS calls it property so they can tax your capital gainsthe SEC calls it a security so they can sue every exchangethe CFTC calls it a commodity so they can govern how you transact ith/t @CryptoTea_— otteroooo (@otteroooo) April 29, 2024In March 2022, US President Joe Biden signed an Executive Order (EO) on “Ensuring Responsible Development of Digital Assets.” While not a direct regulatory bill, the order did serve as acknowledgement of digital assets from the government of the largest economy in the world. In addition, this EO called for the US government to take some specific measures regarding cryptocurrency, including: Creating new consumer protections Introducing measures to prevent risk in cryptocurrency markets from leading to wider systemic risks throughout the US and global economies Mitigate the use of cryptocurrency in illicit activities Promote US leadership and dominance in the technological and economic spheres Support technological advances Explore the development of a US Central Bank Digital Currency (CBDC)While the above is not an exhaustive list of regulatory activity in the US, it does cover many of the most important milestones.Classifying #ETH as a security contradicts previous statements of the SEC and Chair Gensler.Republicans will continue to hold the SEC accountable for its regulatory overreach that is stifling innovation, leaving consumers unprotected, and risking our national security. https://t.co/XohLYtp7EF— Financial Services GOP (@FinancialCmte) April 30, 2024Where Is Crypto Regulation Going?Cryptocurrency regulations in 2024 have come a long way since the birth of Bitcoin. Much progress remains to be made, and regulations differ from country to country. The US and the European Union (EU) have so far led the way when it comes to crypto regulation. Time will tell if these regulations grow to be too restrictive, as some fear, or if they will take a more productive form. This article was written by Brian Nibley at www.financemagnates.com.

Argentina to Mine Bitcoin with Stranded Gas

May 8, 2024 | 06:39 am

Argentina’s energy sector is increasingly turning to Bitcoin, this time with a state-owned facility using stranded natural gas from oil fields that would otherwise be wasted. JUST IN: 🇦🇷 Argentina state-owned company’s subsidiary will mine $BTC with Stranded Gas: Forbes Eventually, every country will be mining #Bitcoin pic.twitter.com/bu6sCXEUJ1 — Bitcoin Magazine (@BitcoinMagazine) May 8, 2024 [...] The post Argentina to Mine Bitcoin with Stranded Gas appeared first on Crypto Breaking News.

XRP Price Update: SEC’s Reply Brief Triggers Market Volatility

May 8, 2024 | 06:34 am

The SEC’s latest filings highlight concerns over Ripple’s unregistered XRP sales and plans for a stablecoin. Ripple’s CLO, Stuart Alderoty, criticizes the SEC’s approach stating that the regulator continues to disregard the law. He expresses hope for a settlement very soon. Amid the broader market selling pressure, the XRP price continues to trade at 3% [...]

Bitcoin’s 4th Halving: Deciphering the Dip and Echoes of Past Cycles

May 8, 2024 | 06:30 am

In recent market movements, both Bitcoin and Ethereum have faced significant fluctuations following Bitcoin’s fourth halving event. Analysis from Glassnode Insights reveals intriguing trends in price action and investor behavior across both cryptocurrencies. In the aftermath of Bitcoin’s halving, market turbulence Bitcoin as the cryptocurrency experienced an 11% sell-off, dipping to around $57,000. This marked […]

Susquehanna has more Bitcoin exposure than just ETFs

May 8, 2024 | 06:30 am

Quick Take Susquehanna, a prominent trading firm, has disclosed a $1.3 billion investment in spot Bitcoin ETFs. The firm’s portfolio is primarily dominated by the Grayscale Bitcoin Trust (GBTC), which accounts for a substantial $1.1 billion of the total investment. The company’s appetite for Bitcoin exposure extends beyond just GBTC, as the firm has invested […] The post Susquehanna has more Bitcoin exposure than just ETFs appeared first on CryptoSlate.

Sui collaborates with FanTV to power global Creator Economy

May 8, 2024 | 06:20 am

Sui has announced one of the potential breakthroughs in the Creator Economy. Sui has partnered with FanTV to power this initiative by leveraging the proceeds that enter their collective ecosystem. FanTV currently houses a community of more than 1.5 million members. Each benefit generated by Sui and FanTV shall be distributed among the members of …

Chainlink CCIP Integration Expands Cross-Chain Capabilities for Index Coop on Ethereum and Arbitrum

May 8, 2024 | 06:14 am

Index Coop announces the integration of Chainlink CCIP to facilitate cross-chain transfers for the DPI and MVI index tokens. The decision to choose Chainlink CCIP stems from its proven track record and the provision of an extra layer of security. Decentralized Autonomous Organization (DAO) and the leading provider of on-chain products, Index Coop, has made [...]

CityPay.io Gains Tether Support to Unveil E-Wallet Solutions and Expand Crypto Payments

May 8, 2024 | 06:14 am

Tether aims to help CityPay.io establish 500,000 crypto payment points in Georgia, Armenia, and surrounding regions. This collaboration reflects Tether’s commitment to promoting cryptocurrency adoption in developing Eastern European economies. Tether Operations Limited is strengthening its role in Eastern Europe by increasing its investment in CityPay.io, a payment processing company operating primarily in Georgia. This [...]

Most FTX Creditors to Receive Over 100% Repayment, Court Document Shows

May 8, 2024 | 06:11 am

FTX is poised to repay nearly all its account holders fully, according to a reorganization plan presented in court. The bankrupt cryptocurrency exchange has raised about $15 billion mainly by selling investments from itself and its affiliate, Alameda Research. This fund will ensure payments of 118 cents on the dollar for 98% of creditors with […]

Ethereum (ETH) Shorts Surge as Grayscale Withdraws Ethereum ETF Application

May 8, 2024 | 06:06 am

TL;DR Short Positions Increase: Ether traders have ramped up their short positions, anticipating a price drop, especially after Grayscale Investments withdrew its Ethereum ETF application. The market is at a tipping point with $345 million in shorts at risk if ETH rises by 3%. Regulatory Uncertainty: The withdrawal of Grayscale’s ETF application has intensified doubts about Ether’s classification ... Read more

dogwifhat unable to cross $3.6: Will WIF’s price crash to $2.4?

May 8, 2024 | 06:00 am

WIF's month-long range extends from $2.24 to $3.56, but the memecoin's fortunes may turn soon.

Ethena Labs boosts USDe token with Bybit integration

May 8, 2024 | 06:00 am

Ethena Labs, an artificial stablecoin startup, has incorporated Bybit for building on its USDe token as a collateral asset on the crypto exchange. Further backing of USDe will enable users to conduct trading perpetuals and generate yield on Ethena. It stands at $15.3%, and zero-fee trade on bitcoin and ether spot trading. Users of Bybit …

10% of German money could shift into digital euro: Bundesbank

May 8, 2024 | 06:00 am

The overall estimate found by Deutsche Bundesbank was that 10% of German money holdings would shift into the digital euro, with bank deposits being hit the hardest. [...] Read More... The post 10% of German money could shift into digital euro: Bundesbank appeared first on CoinGeek.

Mode Network Started its 550 Million Token Airdrop Season

May 8, 2024 | 05:53 am

TL;DR Mode initiates the airdrop of its governance token. In the first phase, it will distribute 550 million tokens, equivalent to 5.5% of the total supply. The distribution will be based on points accumulated by users, granted for their active participation. Mode, a Layer 2 network developed on OP Stack, has announced the start of ... Read more

Japanese exchange Coincheck set for Nasdaq listing through SPAC merger

May 8, 2024 | 05:40 am

Japanese exchange Coincheck is set to join Coinbase as one of the two publicly listed exchanges in the United States, according to a May 8 statement. The crypto trading platform expects to complete its listing on the Nasdaq via a partnership with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP) by the […] The post Japanese exchange Coincheck set for Nasdaq listing through SPAC merger appeared first on CryptoSlate.

Primex integrates Squid for cross-chain token transfers

May 8, 2024 | 05:40 am

Primex has incorporated Squid, wherein users will be provided the option of shifting their tokens, selecting one amongst 60 backed EVM and Cosmos chains. This will be utilized in the protocol. Axelar is a Web3 interoperability blockchain linking and allowing cross-chain messaging amongst more than sixty EVM and Cosmos chains in the fashion of being …

Cardano Update: ADA Faces Make-Or-Break Price Level For Bullish Revival

May 8, 2024 | 05:30 am

The Cardano (ADA) price is down 46% since its yearly high and is currently facing a make-or-break price level for a bullish reversal. Here’s what you need to know: Cardano Price Analysis: Daily Chart The daily ADA/USD chart is currently charting a path within a descending channel, which has defined the bearish trend since the [...] The post Cardano Update: ADA Faces Make-Or-Break Price Level For Bullish Revival appeared first on Crypto Breaking News.

Standard Chartered estimates further upside for Bitcoin

May 8, 2024 | 05:25 am

Bitcoin is currently listed at $62,626.23, down by 1.45% in the last 24 hours. Despite the majority of the community anticipating a surge post-Bitcoin Halving, a long-awaited consolidation occurred. The ongoing phase of BTC has raised questions about its future predictions—for instance, if BTC will even break the trend for a new ATH or if …

Bitcoin Technical Analysis: BTC Faces Growing Uncertainty Amidst Market Fluctuations

May 8, 2024 | 05:24 am

As of May 8, 2024, bitcoin’s price is coasting along at $62,378, experiencing a 24-hour intraday range from $62,096 to $64,413, with a trading volume of $17.91 billion and a market capitalization of $1.22 trillion. Despite a decline of 2.1% over the past 24 hours, bitcoin has gained 9.3% over the last seven days. Bitcoin […]

FTX’s New Proposal Aims for Over 100% Return on Bankruptcy Claims for Creditors

May 8, 2024 | 05:21 am

TL;DR FTX has just unveiled a reorganization plan following its bankruptcy filing in November 2022. The strategy promises recovery of over 100% for non-governmental creditors, yet it has sparked mixed reactions. Creditors with claims below $50,000 could receive up to 118% recovery, while others may recover 100% plus a 9% interest. The exchange FTX has ... Read more

Leading Asian crypto info provider CoinNess launches English Live Feed with free API offer

May 8, 2024 | 05:13 am

Seoul, South Korea, May 8, 2024—CoinNess, one of the largest cryptocurrency investment information providers in Asia, today launched its English service with a Live Feed feature for global audiences. CoinNess’s Live Feed service provides real-time updates for investors in the blockchain and cryptocurrency industry. Founded in 2018, CoinNess has quickly established a strong presence, amassing [...]

SEC vs. Ripple XRP Lawsuit Verdict Looms: ‘The SEC Went Out with a Whimper Here’ Lawyer Says

May 8, 2024 | 04:59 am

TL;DR Legal Battle Intensifies: The SEC’s lawsuit against Ripple Labs is in the remedies phase, with the SEC seeking sanctions to prevent future violations, while Ripple challenges the SEC’s interpretations and proposed operational changes. Ripple’s Response: Ripple’s General Counsel criticizes the SEC’s tactics and remains hopeful for a favorable lawsuit outcome, as Ripple continues to ... Read more

Slash Vision Labs Offers Exclusive Alpha Opportunities With SVL Alpha-Base Launch

May 8, 2024 | 04:55 am

To expand its use cases, Slash Vision Labs has launched Alpha Base. The new product came following a partnership with leading Web3 firms. Slash Vision Labs (SVL) has announced the launch of Alpha-Base, designed to empower SVL token stakers with exclusive alpha opportunities. The Alpha-Base, a new initiative added to the SVL Portal, represents its [...]

P2P Monero (XMR) Trading Platform LocalMonero Ceases Operations After 7 Years. What Went Wrong?

May 8, 2024 | 04:54 am

TL;DR The closure of the P2P platform LocalMonero has been initiated, ending its operations after 7 years of service. New user registrations have been suspended, and advertisements were halted on May 7th. The deadline for withdrawing funds will be November 7, 2024. The well-known peer-to-peer (P2P) Monero trading platform, LocalMonero, has surprised the community by ... Read more

Tether partners with Swan to expand Bitcoin mining operations

May 8, 2024 | 04:50 am

Stablecoin issuer Tether has expanded its mining endeavors by collaborating with Swan’s Managed Bitcoin Mining service. According to the press statement, the firm has dedicated an undisclosed amount of substantial capital to establish its Bitcoin mining operations through Swan. Swan’s Managed Bitcoin Mining allows institutional investors to commit a minimum of $100 million to the […] The post Tether partners with Swan to expand Bitcoin mining operations appeared first on CryptoSlate.

Whale Conviction Dwindling? Analytics Firm Looks at Accumulation Activity of Large Bitcoin Holders Following Dip

May 8, 2024 | 04:45 am

Analytics firm IntoTheBlock is issuing an alert, saying that deep-pocketed Bitcoin (BTC) investors are starting to flash signs of exhaustion. IntoTheBlock says on the social media platform X that Bitcoin whales have taken every opportunity since March of this year to load up on BTC whenever the crypto king pulls back. But the analytics firm […] The post Whale Conviction Dwindling? Analytics Firm Looks at Accumulation Activity of Large Bitcoin Holders Following Dip appeared first on The Daily Hodl.

New Crypto Casino TG.Casino Becomes Regional iGaming Partner of AC Milan

May 8, 2024 | 04:45 am

Cryptocurrency casino platform TG.Casino and iconic Italian football team AC Milan announced they have struck […]

TradeSta Unveils Non-Custodial Web3 Trading Platform

May 8, 2024 | 04:41 am

Ajeltake, Marshall Islands, May 7th, 2024, Chainwire TradeSta, a newly announced non-custodial Web3 trading platform, is set to redefine digital asset trading. Developed by industry veterans Kieron Cartledge and Hasan Zahr, TradeSta promises a secure, user-driven experience that prioritizes privacy and full control over personal assets. With over 10,000 people already signed up, the platform’s [...]

ChainGPT Pad launches Engines of Fury, bringing enhanced Web3 gaming experiences to mainstream players

May 8, 2024 | 04:34 am

As the worlds of gaming and Web3 converge, Engines of Fury empowers traditional gamers and crypto enthusiasts to explore a gaming landscape where players have more control over their gaming experience Dover, DE, USA, May8, 2024 — ChainGPT, the AI-powered Web3 infrastructure providing a diverse suite of tools and services, will exclusively launch the IDO [...]

Republicans beat up SEC’s Gary Gensler but can’t crimp ‘crypto’ crook crackdown

May 8, 2024 | 04:31 am

U.S. SEC Chair Gary Gensler came in for more bashing on Capitol Hill from Republicans, some of whom are planning a symbolic vote to bring him down. [...] Read More... The post Republicans beat up SEC’s Gary Gensler but can’t crimp ‘crypto’ crook crackdown appeared first on CoinGeek.

XRP poised for breakout: Analysts eye $1.68 mid-term target

May 8, 2024 | 04:25 am

XRP is estimated to touch $1.68 in mid-term, or maximum, by the end of this year, 2024. That would set the stage to retest the previous peak of $1.96, which occurred in April 2021. This comes as the cryptocurrency attempts to navigate its way out of the ongoing symmetrical triangle formation. Additionally, the negative MVRV …

Susquehanna International Group Invests Over $1 Billion in Bitcoin ETFs

May 8, 2024 | 04:20 am

Quantitative trading firm Susquehanna International Group accumulated more than $1 billion worth of GBTC and other Bitcoin ETF shares during the first quarter of 2024. The surge in Bitcoin ETF investments by firms like Susquehanna highlights the increasing adoption of cryptocurrencies in traditional finance. The U.S. spot Bitcoin ETF witnessed a strong inflow during the [...]

What’s happening to the Bitcoin price?

May 8, 2024 | 04:11 am

Video Transcript What’s happening to the Bitcoin price? The Bitcoin price rallied from the end of January until mid-March, following the approval of the Spot Bitcoin ETFs in the US and in anticipation of the Bitcoin Halving. Since then, the price has retraced about 20% and it’s starting to recover. However, this is perfectly normal, [...] The post What’s happening to the Bitcoin price? appeared first on Crypto Breaking News.

These 3 AI-based altcoins to outpace Bitcoin & Ethereum in 2024

May 8, 2024 | 04:00 am

Innovation is the middle name of the crypto market, and 2024 has certainly proven it. The year has been filled with unique projects, especially AI-based altcoins. Names like Fetch.ai, SingularityNET, Render, etc., are ruling the crypto industry. These AI-based altcoins are outperforming BTC, ETH, and XRP. Their AI capabilities and features are a major reason …

Tellor crypto records 20% hike – Will TRB cross $125 next?

May 8, 2024 | 04:00 am

TRB may be overbought, putting it at risk of a short-term correction.

Ripple v. SEC Briefs Are Finished as XRP Case Takes Unexpected Turn – Will the Good Prevail?

May 8, 2024 | 03:45 am

Ripple and the SEC conclude their briefs as the XRP lawsuit nears its pivotal moments, sparking debates on regulatory clarity and the future of digital assets. Ripple remains steadfast, arguing against the SEC’s accusations and expressing confidence in a favorable outcome. The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) [...]

OKX Ventures invests in Wild Forest, a pioneering Web3 RTS game

May 8, 2024 | 03:40 am

OKX, a well-known cryptocurrency exchange that has moved into venture capital through a subsidiary called OKX Ventures, has stepped in to back Wild Forest with a new investment. This Web3-enabled game is free and does not require a regular membership. It’s a real-time strategy game. OKX Ventures’ engagement in this initiative demonstrates the significance of …

Is The PEPE Dream Over? Dissecting The Factors Behind The Meme Coin’s Price Tumble

May 8, 2024 | 03:31 am

The once-booming meme coin Pepe (PEPE) has hit a rough patch, experiencing a price drop of nearly 10% in the past 24 hours. This sudden downturn comes amidst a flurry of questions surrounding massive token withdrawals from a major exchange and the overall future of the meme-inspired cryptocurrency. PEPE Price Takes A Tumble Just a [...] The post Is The PEPE Dream Over? Dissecting The Factors Behind The Meme Coin’s Price Tumble appeared first on Crypto Breaking News.

Wintermute to make provision for liquidity to OSL and HashKey

May 8, 2024 | 03:20 am

Wintermute, a crypto market maker, will provide liquidity to OSL and HashKey for spot Bitcoin and ether exchange-traded funds in Hong Kong. This will help the company to establish itself in the crypto space in Asia. As per Wintermute, the company intends to involve sub-custodians, OSL and HashKey, regarding Hong Kong’s spot crypto ETFs. According …

KangaMoon Presale Heats Up With End in Sight– Stellar and GALA Battles for Dominance

May 8, 2024 | 03:09 am

The cryptocurrency market has been fluctuating a lot lately, so it is hard to say whether we have already seen the highest point of the post bitcoin halving season. In this article, we will discuss the three top crypto coins to invest in despite the current market dynamic– Stellar (XLM), KangaMoon (KANG), and Gala (GALA). [...]

Shiba Inu (SHIB) is now listed on Nexo’s DEX

May 8, 2024 | 03:00 am

Shiba Inu (SHIB) recently announced bagging a listing on the Nexo exchange. Shiba Inu, which was launched in 2020 as a meme coin, has since established a global community. Nexo also went to X to officially confirm the listing. The exchange talked about how Shiba Inu started as a dog meme only to develop the …

SEC Counters Terraform’s Claims of Fraud Outside US, Cites U.S. Activities

May 8, 2024 | 02:51 am

The SEC emphasized that Terraform’s arguments lack merit and misapply relevant laws and facts, indicating its intent to pursue legal action despite the defense’s stance. The SEC countered Terraform’s plea for reduced disgorgement in the civil case, where the firm was found liable by a jury. Lawyers representing the U.S. Securities and Exchange Commission (SEC) [...]

Ripple vs SEC: Impending Settlement and Appeals Signal Turning Point in XRP Lawsuit

May 8, 2024 | 02:47 am

The SEC challenges Ripple’s defense, arguing for injunctions to prevent future violations. Ripple asserts changes in behavior post-lawsuit and plans to restructure XRP sales. Significant developments have surfaced in the remedies stage in the ongoing legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) regarding the cryptocurrency XRP. The SEC [...]

Monero’s largest P2P trading platform shuts down

May 8, 2024 | 02:18 am

LocalMonero is a peer-to-peer (P2P) trading platform for privacy-focused coin Monero (XMR). The platform is winding down, with the website set to shutter on November 7. LocalMonero, the largest peer-to-peer (P2P) trading platform for Monero (XMR), is shutting down. The P2P platform announced late Tuesday that it’s ending operations effective immediately, with new signups and ad […] The post Monero’s largest P2P trading platform shuts down appeared first on CoinJournal.

CFTC Chair Says ‘Another Cycle of Enforcement Actions’ Coming As Crypto Enters New Phase of Asset Appreciation

May 8, 2024 | 02:15 am

The chairperson of the U.S. Commodity Futures Trading Commission (CFTC) Rostin Behnam is warning that the crypto industry is likely to face more headwinds from regulators over the coming months. Speaking at the 2024 Milken Institute Global Conference, the CFTC chair says that the crypto industry will “probably see in the next six to 18 […] The post CFTC Chair Says ‘Another Cycle of Enforcement Actions’ Coming As Crypto Enters New Phase of Asset Appreciation appeared first on The Daily Hodl.

P2P digital currency ban looming in Nigeria as central bank halts fintech account opening

May 8, 2024 | 02:00 am

Four leading fintech apps were directed to halt onboarding recently, and with the National Security Agency classifying digital currency as a national security issue, a ban is imminent. [...] Read More... The post P2P digital currency ban looming in Nigeria as central bank halts fintech account opening appeared first on CoinGeek.

Shiba Inu whale dumps massive 2.15 million SHIB on Coinbase, price crash incoming?

May 8, 2024 | 02:00 am

The Shiba Inu ecosystem is in a frenzy as three days ago, an unidentified whale dumped massive amounts of tokens into Coinbase, a top-tier exchange platform. The staggering number of Shiba Inu (SHIB) tokens offloaded immediately caused bearish speculations to fly among the coin holders and the crypto market at large. Consequently, some SHIB holders …

All about Revolut exchange and its latest crypto plans for U.K customers

May 8, 2024 | 02:00 am

Amidst rising cryptocurrency challenges, why is Revolut intensifying its crypto endeavors?

Mega Dice Announces a $4k SOL Giveaway to Celebrate Major Presale Milestone

May 8, 2024 | 01:54 am

Mega Dice recently started a presale that hit milestone after milestone. While the presale did not blow up in the same sense as some of the most successful meme coin presales seen earlier this year, it still raised nearly $800k in only a few weeks and is ongoing. But, to celebrate the milestone of $700,000 […]

BlockDAG Accepts 10 More Payment Methods, Boosting 2025-2030 Price Forecasts, Surpassing TRON and AVAX Predictions

May 8, 2024 | 01:36 am

BlockDAG is revolutionizing the cryptocurrency market by introducing ten new payment methods and the upcoming beta release of its X1 app. This innovation positions BlockDAG to exceed the performance of well-known cryptocurrencies like Tron and Avalanche, promising an era of improved decentralized transactions. By focusing on user engagement and simplifying the process of buying BDAG […]

Slash Vision Labs Unveils SVL Alpha-Base: A New Gateway to Exclusive Alpha Opportunities

May 8, 2024 | 01:03 am

Tokyo, Japan, May 8th, 2024, Chainwire Slash Vision Labs is thrilled to introduce SVL Alpha-Base (’Alpha-Base’), an innovative addition to the SVL Portal tailored to offer SVL token stakers exclusive alpha opportunities from our esteemed partner projects. Alpha-Base represents a significant leap forward in our mission to empower and engage our community. By partnering with […] The post Slash Vision Labs Unveils SVL Alpha-Base: A New Gateway to Exclusive Alpha Opportunities appeared first on CoinJournal.

Breaking Free: Analyst Eyes $1.68 Breakout For XRP After Years In The Shadows

May 8, 2024 | 01:00 am

The price of XRP, the native token of Ripple, has been on a rollercoaster ride in recent years. After reaching a peak of nearly $2 in April 2021, it has been in a downward motion, leaving investors wondering if a comeback is on the horizon. However, a recent analysis by market analyst Jonathan Carter suggests [...] The post Breaking Free: Analyst Eyes $1.68 Breakout For XRP After Years In The Shadows appeared first on Crypto Breaking News.

Inside Binance Nigeria Crisis: CEO Richard Teng Reveals Key Developments

May 8, 2024 | 00:45 am

In a candid disclosure, Binance CEO Richard Teng shattered weeks of quiet by detailing the distressing arrests of executives Tigran Gambaryan and Nadeem Anjarwalla in Nigeria. Both were promised safety in the country yet found themselves detained after crucial meetings. The post Inside Binance Nigeria Crisis: CEO Richard Teng Reveals Key Developments appeared first on CoinChapter.

Top Crypto News Of The Day: Bitcoin to $100K, Grayscale ETF Inflows, and More

May 8, 2024 | 00:38 am

Here is the top crypto news of the day curated by CoinChapter.com. The post Top Crypto News Of The Day: Bitcoin to $100K, Grayscale ETF Inflows, and More appeared first on CoinChapter.

XRP Price Prediction – Why 50-DSMA Is The Key To Fresh Surge

May 8, 2024 | 00:34 am

XRP is facing heavy resistance at $0.570. To attempt a fresh increase in the near term, the price must stay above the $0.5150 support zone. The post XRP Price Prediction – Why 50-DSMA Is The Key To Fresh Surge appeared first on CoinChapter.

Tradu Introduces New Crypto Exchange with Competitive Fees

May 8, 2024 | 00:31 am

Tradu, a multi-asset trading platform, has announced the launch of a new cryptocurrency exchange aimed at catering to active traders and investors seeking low, transparent fees. The platform, which is part of Stratos Group International, LLC, a subsidiary of Jefferies Financial Group Inc. (NYSE: JEF), boasts a selection of over 40 coins, including popular options like Bitcoin and Ethereum.Fee Savings and Transparent PricingOne of Tradu's key selling points is its focus on transparency and cost-effectiveness in the cryptocurrency trading landscape. The platform claims to offer savings of up to 95% on fees compared to other exchanges, with a straightforward fee structure that is displayed to users before placing orders. Tradu charges a commission of 0.1%, with instant rebates available for larger trade sizes. In addition to its commission-based model, Tradu offers clients the option to trade on a commission-free profile, where fees are instead incorporated into the spread. Brendan Callan, CEO of Tradu, commented: “At Tradu, we are real supporters of crypto. It’s a huge market with significant investor interest and as a true multi-asset trading platform, it’s important for us to offer our clients access to both traditional assets and new digital assets. We are bringing institutional-grade pricing and infrastructure to the retail crypto market, providing traders with upfront costs and tight, transparent spreads enabling active traders and investors to maximise their returns.”Tradu Collaborates with dxFeed for Market Data AccessEarlier, dxFeed, a global financial data solutions firm, initiated an Infrastructure as a Service project for Tradu, as reported by Finance Magnates. This partnership positions dxFeed as the manager of critical infrastructure and data provision, allowing Tradu to focus on core business objectives. dxFeed's IaaS capabilities aim to address technical challenges in delivering market data, providing seamless access to data from major exchanges globally. With scalable low-latency infrastructure, dxFeed ensures consolidated market data delivery to clients across Asia, the Americas, and Europe, accommodating rapid reconfiguration to meet performance demands. This article was written by Tareq Sikder at www.financemagnates.com.

Grayscale Withdraws 19b-4 Filing for Ethereum Futures ETF, Shifts Focus to XRP

May 8, 2024 | 00:27 am

Grayscale Investments unexpectedly withdrew its application for an Ethereum Futures ETF just weeks before the SEC's decision deadline. The surprise withdrawal signals a potential shift in strategy, with Grayscale now seemingly focused on pursuing an XRP ETF. The post Grayscale Withdraws 19b-4 Filing for Ethereum Futures ETF, Shifts Focus to XRP appeared first on CoinChapter.

Here’s When Solana Can Reclaim Its All-Time High of $250

May 8, 2024 | 00:02 am

Solana has become a standout in the cryptocurrency world, particularly during this bull season. Known for its wide adoption and robust blockchain network, SOL has seen remarkable highs, reaching up to $250 earlier. Despite a recent pullback, with the price hovering around $150, its resilience is noteworthy. Investors and enthusiasts are keeping a keen eye on its movements, anticipating another significant rise. The post Here’s When Solana Can Reclaim Its All-Time High of $250 appeared first on CoinChapter.

Gate2Chain to provide enterprises, governments with data integrity management

May 8, 2024 | 00:00 am

In 2023, Gate2Chain unveiled its Trace platform, and a year has passed with the company making a great deal of progress with Trace, which is all set to be revealed at the London Blockchain Conference 2024. [...] Read More... The post Gate2Chain to provide enterprises, governments with data integrity management appeared first on CoinGeek.

Introducing YFX V4, The Optimal Solution for Decentralized Perpetual Protocol

May 7, 2024 | 23:00 pm

The current decentralized perpetual protocols are mainly divided into 4 modes: The PvPool mode adopted by GMX, YFX, gTrade, etc., the centralized order book trading with the decentralized margin mode like Dydx, Apex, Pancake, the leveraged token trading mode of Uniswap by Perpetual Protocol, and the mode of developing a separate public chain dedicated for […] The post Introducing YFX V4, The Optimal Solution for Decentralized Perpetual Protocol appeared first on CoinChapter.

Bankrupt FTX Plans to Pay Nearly All Customers 118% of Their Claims

May 7, 2024 | 22:50 pm

Bankrupt cryptocurrency exchange FTX plans to repay 98 percent of its creditors up to 118 percent of their claims in cash, an announcement yesterday (Tuesday) detailed. Only creditors with $50,000 or less in claims will be eligible to receive the claims under this plan, which is expected to be fulfilled within 60 days of court approval.Under the plan, all non-governmental creditors will also receive their claims in full, along with a 9 percent interest to be calculated from the date of the bankruptcy filing. According to the exchange, it will fulfill “the time value of their investments.”Joy for FTX Creditors“We are pleased to be in a position to propose a Chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” John Ray III, CEO and Chief Restructuring Officer of FTX, said in a statement.The distribution plan came 17 months after the crypto exchange filed for bankruptcy. At the time of the bankruptcy filing, Bitcoin was trading at about $16,000, but it recently peaked at above $72,000. FTX was holding a significant stash of cryptocurrencies.“As previously disclosed, FTX.com had a massive shortfall at the time of the Chapter 11 filing in November 2022 — holding only 0.1% of the Bitcoin and only 1.2% of the Ethereum customers believed it held,” the exchange noted. “The Debtors have not been able to benefit from the appreciation of these missing tokens during the Chapter 11 cases.”Don’t know what Netflix paid for this Tom Brady Roast, but him getting roasted on FTX — with a side jab at Gronk — was worth it pic.twitter.com/Y0N0lorfgQ— Trung Phan (@TrungTPhan) May 6, 2024The bankruptcy exchange further highlighted that, according to its forecasts, it will have between $14.5 and $16.3 billion available for distribution.“FTX has achieved this recovery level by monetizing an extraordinarily diverse collection of assets, most of which were proprietary investments held by the Alameda or FTX Ventures businesses, or litigation claims,” the announcement added.The Compromise of Government AgenciesThe condition of FTX looked grim when the company filed for bankruptcy. However, a proposed payout earlier estimated that the creditors would receive about 90 percent of their claims. Those figures were revised by the CEO Ray last January, revealing the plans to repay the customers in full.The exchange was pushed to file for bankruptcy in November 2022 as it had an $8 billion hole in its books.The latest reorganization would also see the settlement of claims with regulators and government agencies. The Internal Revenue Service (IRS), which has a claim of $24 billion, would receive $200 million in cash payment and a $685 million subordinated claim, which it will receive after the payout to all creditors and other governmental entities.The Commodity Futures Trading Commission (CFTC) and other governmental claimants also agreed to subordinate their claims until the claim is paid to the FTX customers and other creditors. This article was written by Arnab Shome at www.financemagnates.com.

Philippines, ADB collaborate to pioneer digitally tracked green bonds

May 7, 2024 | 22:00 pm

The tie-up between gov't agencies and the ADB is geared toward supporting the country in fostering a sustainable capital market, with DTGBs eyed as a starting point to achieve this. [...] Read More... The post Philippines, ADB collaborate to pioneer digitally tracked green bonds appeared first on CoinGeek.

RAIR Technologies launches RAIRprotocol – Open source infrastructure for enterprise dApp development

May 7, 2024 | 22:00 pm

RAIR Technologies today announced the launch of RAIRprotocol, a fully open-source dApp protocol layer. RAIRprotocol enables the creation of scalable dApps through an open token licensing model. Smart Account, Marketplace, DRM, & NFT infrastructure all in one place. RAIRprotocol offers out-of-the-box partnerships with Alchemy and Web3Auth, as well as integrations for Filebase, Google Cloud, Hashicorp, MongoDB Atlas, […] The post RAIR Technologies launches RAIRprotocol – Open source infrastructure for enterprise dApp development appeared first on CoinChapter.

Japan: Researchers propose solution for flexible control of IoT devices

May 7, 2024 | 20:00 pm

The proposed solution has various abilities to control IoT devices, including halting the spread of cyberattacks and allowing authorities to remotely shut down hard-to-reach equipment. [...] Read More... The post Japan: Researchers propose solution for flexible control of IoT devices appeared first on CoinGeek.

WAVES Double Bottom Could Spark a Rally to $3.40?

May 7, 2024 | 19:22 pm

NAIROBI (Coinchapter.com) – WAVES exhibits a double bottom pattern on its daily trading chart, suggesting a possible trend reversal. The price of WAVES today stands at $2.39, marking a slight decrease of 2.15% over the last 24 hours, yet up 15.30% from its weekly low of $2.07. According to the 1-day chart analysis, Waves has […] The post WAVES Double Bottom Could Spark a Rally to $3.40? appeared first on CoinChapter.

Bill Gates and Warren Buffett Debated Bitcoin: Here’s a Recap

May 7, 2024 | 19:07 pm

NAIROBI (Coinchapter.com) – In May 2018, billionaires Bill Gates and Warren Buffett engaged in a heated debate over the merits of Bitcoin. The clash occurred during an interview on CNBC’s Squawk Box, where Buffett referred to the cryptocurrency as a “non-productive asset.” He argued against investing in Bitcoin, likening it to a bad gamble where […] The post Bill Gates and Warren Buffett Debated Bitcoin: Here’s a Recap appeared first on CoinChapter.

STA Token Scam: Rumors Of Gurtej Singh Sidhu’s Release

May 7, 2024 | 18:46 pm

Rumors of STA token founder Gurtej Singh Sidhu getting released from jail are doing the rounds on social media. The post STA Token Scam: Rumors Of Gurtej Singh Sidhu’s Release appeared first on CoinChapter.

Shiba Inu’s Bullish Cues Could Set Up A 330% Price Target

May 7, 2024 | 18:17 pm

NOIDA (CoinChapter.com) — Shiba Inu’s bullish cues could spell a 330% price target for Shiba Inu (SHIB) prices. If traders play their cards right, SHIB price action could help them net impressive gains. According to blockchain data provider IntoTheBlock, 327,200 addresses have acquired 110.27 trillion SHIB between $0.000026 and $0.000051, with a break-even point close […] The post Shiba Inu’s Bullish Cues Could Set Up A 330% Price Target appeared first on CoinChapter.

Spectral Participates In Hugging Face’s Expert Support Program, Steps Closer To Advancing On-chain Open Source AI Community

May 7, 2024 | 15:44 pm

Spectral, an inference economy for Web3, announced today its participation in Hugging Face’s Expert Support Program, joining others in advanced open-source models, applications for the Onchain Agent Economy, and datasets. The Expert Support Program by Hugging Face was created to help clients with various challenges by providing them with the resources and expertise needed to […]

99BTC Staking Blows Up as the Presale Raises its First Million

May 7, 2024 | 15:38 pm

99Bitcoins, the world’s first Learn-To-Earn (L2E) project, has recently seen its presale hit a new milestone with $1 million raised. Along the way, the project’s staking mechanism blew up as users staked many purchased tokens. 99Bitcoins encourages users to keep staking their crypto In a recent post on X, 99Bitcoins invited and urged holders to […]

XRP Volume Skyrockets 392% as Ripple vs. SEC Case Nears Conclusion

May 7, 2024 | 14:33 pm

NAIROBI (Coinchapter.com) – XRP trading volume has surged by a staggering 392% in just 24 hours. This remarkable spike coincides with the highly anticipated resolution of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). According to James K. Filan, a renowned legal expert closely following the case, the SEC […] The post XRP Volume Skyrockets 392% as Ripple vs. SEC Case Nears Conclusion appeared first on CoinChapter.

Spectral Labs Joins Hugging Face’s ESP Program to advance the Onchain x Open-Source AI Community

May 7, 2024 | 14:28 pm

New York, New York, May 7th, 2024, Chainwire Spectral is excited to announce its participation in Hugging Face’s Expert Support Program. Spectral is collaborating with deep learning experts from Hugging Face to advance open-source models, datasets, and applications for the Onchain Agent Economy. How to use Hugging Face Hugging Face plays a critical role across […] The post Spectral Labs Joins Hugging Face’s ESP Program to advance the Onchain x Open-Source AI Community appeared first on CoinJournal.

Coincheck's Nasdaq Listing Gains Traction, Proposal Submitted to SEC

May 7, 2024 | 12:52 pm

Coincheck and Spacial Purpose Acquisition Company Thunder Bridge Capital Partners IV are progressing with a merger deal that will enable the Japanese cryptocurrency exchange to list on Nasdaq. Coincheck has reportedly submitted a proposal regarding the agreement to the SEC, signifying a significant step for both companies and investors seeking exposure to the growing crypto industry.Gateway to NasdaqCoincheck is a renowned digital asset exchange with a market share of over 1.98 million accounts, while Thunder Bridge Capital Partners IV is an SPAC that facilitates mergers and acquisitions within the financial sector. The proposed merger signifies Coincheck's ambition to expand its global footprint and gain access to the Nasdaq market. According to the press release, the combined entity, to be named Coincheck Group N.V., is pending regulatory approvals and shareholders' consent.Last year, Coincheck faced a hurdle after the parent company, Monex Group, announced a one-year delay in the cryptocurrency exchange's public listing. The anticipated merger, originally scheduled for completion by July 2, 2023, was extended to July 2, 2024. Monex Group confirmed the delay, citing the approval of an amendment to the SPAC's certificate of incorporation at a shareholders' meeting held in June 2023. While the exact reasons behind the delay remain unclear, speculations emerged about potential setbacks in obtaining approval from the shareholders. This setback marked the second delay in Coincheck's journey toward listing on Nasdaq.Coincheck IPO DelayedMonex announced its intentions to take Coincheck public in 2022, entering an agreement valued at approximately $1.25 billion with Thunder Bridge. Originally expected to debut on the Nasdaq in the latter half of 2021, unforeseen circumstances have continuously pushed the listing further, now scheduled for this year.Under the agreement, Thunder Bridge is set to inject $237 million in cash into the combined entity. Additionally, Gary Simanson, Thunder Bridge's President and CEO, will reportedly assume the role of CEO in the merged organization. Monex will retain a significant majority stake of 82% in the new entity and maintain its commitment to Coincheck's growth trajectory amidst the challenges of the listing delay. This article was written by Jared Kirui at www.financemagnates.com.

Cardano Network Hits 90M Transactions Amid Upcoming Upgrades

May 7, 2024 | 12:05 pm

NAIROBI (Coinchapter.com) – Cardano has reached a significant milestone, recording a staggering 90 million transactions on its network. This achievement highlights Cardano’s growing adoption and underscores its commitment to building a robust and scalable blockchain platform. The surge in transactions comes as Cardano prepares for major upgrades aimed at further enhancing its capabilities. The Cardano […] The post Cardano Network Hits 90M Transactions Amid Upcoming Upgrades appeared first on CoinChapter.

Ripple CEO Slams SEC Over XRP and Ethereum Probes, Calls Gensler “Unethical”

May 7, 2024 | 11:32 am

NAIROBI (Coinchapter.com)- Ripple CEO Brad Garlinghouse has blasted the U.S. Securities and Exchange Commission (SEC) for its ongoing probes into XRP and Ethereum, labeling SEC Chair Gary Gensler as an “unethical human being.” Garlinghouse’s comments came during a fireside chat at the XRP Las Vegas 2024 event. He vehemently defended XRP and Ethereum, asserting that […] The post Ripple CEO Slams SEC Over XRP and Ethereum Probes, Calls Gensler “Unethical” appeared first on CoinChapter.

Spectral Labs Joins Hugging Face’s ESP Program to advance the Onchain x Open-Source AI Community

May 7, 2024 | 11:25 am

New York, New York, May 7th, 2024, Chainwire Spectral is excited to announce its participation in Hugging Face’s Expert Support Program. Spectral is collaborating with deep learning experts from Hugging Face to advance open-source models, datasets, and applications for the Onchain Agent Economy. How to use Hugging Face Hugging Face plays a critical role across […] The post Spectral Labs Joins Hugging Face’s ESP Program to advance the Onchain x Open-Source AI Community appeared first on CoinChapter.

HKD 2.4 Billion AUM Highlights Strong Market Entry for Newly Launched Spot Crypto ETFs in Hong Kong

May 7, 2024 | 11:00 am

The inaugural week of the newly launched ETFs has exceeded all projections, with asset under management (AUM) surpassing HKD2.4 billion as of 6 May, a testament to the strong investor interest and confidence in the market. This milestone highlights the successful fusion of traditional financial systems with cutting-edge digital asset solutions, showcasing the evolution and […] The post HKD 2.4 Billion AUM Highlights Strong Market Entry for Newly Launched Spot Crypto ETFs in Hong Kong appeared first on CoinChapter.

Australia Eyes Unreported Crypto Transactions: Taxman Targets 1.2 Million Accounts

May 7, 2024 | 10:52 am

Australian Taxation Office (ATO) has requested personal data and transaction details from crypto exchanges of up to 1.2 million accounts to crack down on potential tax evaders, Reuters reported. This move marks a significant escalation in the ATO's efforts to ensure compliance in the rapidly expanding digital currency market.Oversight of Crypto Tax ComplianceATO's notice, issued last month, aims to identify individuals who may have failed to report their crypto transactions. It focuses on instances where crypto assets were exchanged or utilized for payments without proper tax declarations.ATO has acknowledged the complexities of the crypto industry, attributing non-compliance to a lack of awareness regarding tax obligations. Additionally, the potential for anonymous transactions using false information poses a challenge in effectively enforcing tax laws.The scope of the ATO's request extends beyond basic transaction details. It encompasses personal information such as dates of birth, phone numbers, and social media accounts. Additionally, the authority is seeking specific details like bank accounts, wallet addresses, and the types of coins involved. Australia categorizes cryptocurrencies as assets for tax assessment, subjecting investors to capital gains tax obligations upon selling or trading crypto assets. This approach aims to ensure equitable taxation across traditional and digital asset classes.Rising Crypto AdoptionA recent Treasury report indicating a significant growth in digital asset transactions highlights the exponential growth of Australia's crypto market. With over 800,000 taxpayers engaging in crypto activities in recent years, the country experienced a remarkable 63% surge in participation in 2021. Meanwhile, Australia is preparing to embrace Bitcoin exchange-traded funds (ETFs), a move that could reshape the country's investment landscape. Following the footsteps of the US and Hong Kong, ASX Ltd, Australia's primary equity exchange, could soon allow the launch of Bitcoin ETFs, Bloomberg reported.The soaring interest in cryptocurrencies among investors is evident in the $53 billion inflow into US Bitcoin ETFs this year. Notable players like Van Eck Associates Corp. and BetaShares Holdings Pty are poised to introduce similar ETFs in Australia. This comes amidst a resurgence in the crypto market, which recently drove Bitcoin price to a record high exceeding $70,000.ASX, responsible for the majority of equity trading in Australia, is currently evaluating applications for spot Bitcoin ETFs. Although the exact timeline hasn't been confirmed, insiders speculate approvals could materialize before the end of the year. Australia's $2.3 trillion pension market stands as a crucial catalyst for Bitcoin ETF inflows. This article was written by Jared Kirui at www.financemagnates.com.

Ethernity Transitions to an AI Enhanced Ethereum Layer 2, Purpose-Built for the Entertainment Industry

May 7, 2024 | 10:25 am

LOS ANGELES, United States, May 7th, 2024, Chainwire Global brands and talent will be able to use Ethernity’s technology to store their IP on-chain and engage with their fans through next-generation content and experiences Ethernity, the renowned platform for authenticated and licensed NFTs with icons like Lionel Messi and Shaquille O’Neal, announces its groundbreaking evolution […] The post Ethernity Transitions to an AI Enhanced Ethereum Layer 2, Purpose-Built for the Entertainment Industry appeared first on CoinJournal.

Binance adds direct deposits and withdrawals for dYdX

May 7, 2024 | 10:19 am

Binance has announced its integration with the dYdX Chain mainnet. Deposits for DYDX are open, while support for withdrawals will go live once there’s sufficient volume. Binance users can now directly deposit or withdraw dYdX (DYDX) tokens. DYDX is the native token of the L1 protocol dYdX Chain. In an announcement on Tuesday, Binance said […] The post Binance adds direct deposits and withdrawals for dYdX appeared first on CoinJournal.

Ethernity Transitions to an AI Enhanced Ethereum Layer 2, Purpose-Built for the Entertainment Industry

May 7, 2024 | 09:23 am

LOS ANGELES, United States, May 7th, 2024, Chainwire Global brands and talent will be able to use Ethernity’s technology to store their IP on-chain and engage with their fans through next-generation content and experiences Ethernity, the renowned platform for authenticated and licensed NFTs with icons like Lionel Messi and Shaquille O’Neal, announces its groundbreaking evolution […] The post Ethernity Transitions to an AI Enhanced Ethereum Layer 2, Purpose-Built for the Entertainment Industry appeared first on CoinChapter.

Revolut’s crypto exchange goes live as Bitbot’s presale surpasses $3.2M

May 7, 2024 | 08:34 am

Key takeaways London-based Revolut has launched Revolut X to compete with leading crypto exchanges. Bitbot’s presale has now officially crossed the $3.2 million mark. Revolut X is now live for experienced traders Financial institutions continue to troop into the cryptocurrency space and London-based Revolut will not be left out. The digital bank announced the launch […] The post Revolut’s crypto exchange goes live as Bitbot’s presale surpasses $3.2M appeared first on CoinJournal.

Oklahoma joins Ohio, Mississippi in passing Blockchain Basics Act

May 7, 2024 | 08:00 am

The new bill, which seeks to protect the residents’ right to mine, own, and trade digital currencies, is at advanced stages in Nebraska, South Carolina, and Tennessee. [...] Read More... The post Oklahoma joins Ohio, Mississippi in passing Blockchain Basics Act appeared first on CoinGeek.

Bitcoin Surges 8.33% to $65,000, Ethereum Holds Strong at $3,177 Up 6%, Furrever Token Presale Hits $1M Amidst a 15X Return Potential

May 7, 2024 | 08:00 am

In the dynamic and ever-evolving world of cryptocurrencies, recent movements within the market showcase the resilience and potential of major digital assets. Bitcoin (BTC) recently experienced a surge from $60,000 to $65,000, predicted by the Bitcoin Fundamental Index (BFI). Ethereum (ETH), maintaining stability above the $3,000 mark, shows strong holding signals from investors, while Furrever Token (FURR) […] The post Bitcoin Surges 8.33% to $65,000, Ethereum Holds Strong at $3,177 Up 6%, Furrever Token Presale Hits $1M Amidst a 15X Return Potential appeared first on CoinChapter.

New Crypto Casino TG.Casino Becomes Regional iGaming Partner of AC Milan

May 7, 2024 | 07:14 am

Milan, Italy, May 7th, 2024, Chainwire Cryptocurrency casino platform TG.Casino and iconic Italian football team AC Milan announced they have struck a new partnership this week. TG.Casino announcement In a May 6 tweet, the @TGCasino_ account on X posted: ‘TG Casino is proud to formally announce our new partnership with AC Milan joining them as […] The post New Crypto Casino TG.Casino Becomes Regional iGaming Partner of AC Milan appeared first on CoinJournal.

New Crypto Casino TG.Casino Becomes Regional iGaming Partner of AC Milan

May 7, 2024 | 07:05 am

Milan, Italy, May 7th, 2024, Chainwire Cryptocurrency casino platform TG.Casino and iconic Italian football team AC Milan announced they have struck a new partnership this week. TG.Casino Announcement In a May 6 tweet, the @TGCasino_ account on X posted: ‘TG Casino is proud to formally announce our new partnership with AC Milan joining them as […] The post New Crypto Casino TG.Casino Becomes Regional iGaming Partner of AC Milan appeared first on CoinChapter.

BSV Blockchain unveils Mandala Upgrade: Enabling unbounded scaling and other benefits

May 7, 2024 | 07:00 am

BSV Blockchain's new Mandala upgrade allows the BSV blockchain to scale quadratically in the coming years; its key components include Teranode, Overlay services, and SPV Wallet. [...] Read More... The post BSV Blockchain unveils Mandala Upgrade: Enabling unbounded scaling and other benefits appeared first on CoinGeek.

Australian tax office targets 1.2M crypto investors for tax compliance

May 7, 2024 | 06:58 am

Australian Tax Office seeks data from 1.2M crypto users for tax compliance. Cryptocurrencies are classified as taxable assets in Australia and capital gains tax applies. Global crackdown on crypto tax evasion has gained momentum, especially in Canada, Turkey, and the U.S. In a move aimed at enforcing tax compliance within the burgeoning crypto market, the […] The post Australian tax office targets 1.2M crypto investors for tax compliance appeared first on CoinJournal.

Bitcoin Price Rebounds from Crucial Support Level – Bulls Charge Ahead

May 7, 2024 | 06:51 am

NAIROBI (Coinchapter.com) – Bitcoin’s unwavering momentum has captured the attention of crypto enthusiasts as the price of the leading digital asset triumphantly rebounds from a critical support level. this has ignited a renewed sense of optimism within the market. In a remarkable display of resilience, the Bitcoin price has defied expectations by rebounding from the […] The post Bitcoin Price Rebounds from Crucial Support Level – Bulls Charge Ahead appeared first on CoinChapter.

Colombia’s largest bank launches crypto exchange and peso-pegged stablecoin

May 7, 2024 | 06:25 am

Bancolombia launches Wenia crypto exchange and COPW stablecoin in Colombia. The new crypto exchange aims to onboard 60,000 users in 1st year to compete with Binance and Bitso. Wenia is registered in Bermuda and will operate independently from other Bancolombia Group entities. Bancolombia, the largest bank in Colombia, has made a significant foray into the […] The post Colombia’s largest bank launches crypto exchange and peso-pegged stablecoin appeared first on CoinJournal.

End the Tetheral Reserve?

May 7, 2024 | 06:00 am

If Tether collapses, majority of global liquidity will go with it, and so will a sizable chunk of value held in equity around the blockchain economy. [...] Read More... The post End the Tetheral Reserve? appeared first on CoinGeek.

Revolut X: Fintech Firm Ventures into Crypto Exchange Arena

May 7, 2024 | 05:55 am

London-based digital banking firm Revolut has introduced Revolut X, a cryptocurrency exchange tailored for professional traders, marking the institution as the pioneer in developing a dedicated platform for cryptocurrency trading within the banking sector.Crypto Offerings with New Exchange PlatformWith a user base of 40 million worldwide, Revolut has already facilitated cryptocurrency transactions through its Revolut App. However, the decision to unveil a separate crypto exchange was disclosed in February, aiming to provide a more specialized trading experience.The newly launched exchange offers customers the advantage of trading directly from the platform, ensuring lower transaction fees. Fee structures have been delineated, with makers incurring zero charges and takers facing a nominal fee of 0.09%.Revolut’s Head of Crypto Exchange Product, Leonid Bashlykov, said: “We are excited by the introduction of our new crypto product and believe this top-tier trading platform will change the game for experienced crypto traders, providing them with a safe and accessible place to trade.”Integration for UK Customers into Crypto TradingThe platform, now available on desktops for UK customers holding Revolut retail accounts, features digital assets already present on the Revolut retail app, including Bitcoin, Ethereum, and XRP, with plans for further expansion.Revolut launches its new exchange, #RevolutX, designed for experienced traders with 0% maker fees and powerful analytical tools 📊 These tools are far more advanced than their traditional app, tailoring Revolut X for high-volume trading strategies 💧📈 pic.twitter.com/U7y0SuLpdR— BrotherHood (@BHVenture) May 7, 2024Customers with existing UK Revolut retail accounts can access the new crypto exchange using their current credentials. Additionally, they can execute crypto-to-fiat and vice versa transactions between Revolut X and Revolut at no extra cost. Educational resources integrated within the Revolut app further promote responsible trading practices among users.Prior to this launch, Revolut had been enhancing its platform, including the recent introduction of Revolut Ramp in collaboration with MetaMask. This integration, unveiled in March, streamlines the process of purchasing cryptocurrency for Revolut clients, accessible through MetaMask's mobile app, browser extension, or portfolio.Revolut users can now expand their MetaMask self-custody wallet with minimal fees using their Revolut account or Visa/Mastercard credit or debit cards, as outlined in the release on the company's blog page. This article was written by Tareq Sikder at www.financemagnates.com.

How to Add BEVM to MetaMask

May 6, 2024 | 22:47 pm

MetaMask is a popular cryptocurrency wallet and browser extension that allows users to interact with decentralized applications (dApps) on the Ethereum blockchain. Adding the BEVM to MetaMask can open up a whole new world of possibilities for users, including access to a wider range of tokens and dApps. In this article, we will guide you ... Read more

Stablecoins Under Scrutiny: Study Reveals 90% Non-User Transactions

May 6, 2024 | 12:27 pm

Over 90% of stablecoin transactions do not originate from real users, a recent study by Visa and Allium Labs revealed. These findings raise questions about the potential of stablecoins revolutionizing the payment sector despite the optimism from industry leaders and the overall positive market sentiment. Stablecoin Potential in PaymentsOut of a staggering $2.65 trillion in total stablecoin transactions in the past 30 days, a mere $265 billion is attributed to "organic payments activity," highlighting the prevalence of non-user transactions. This data was highlighted in a dashboard aimed at analyzing stablecoin transactions to differentiate between authentic user activity and artificial volume.This revelation challenges the narrative that stablecoins, tethered to assets like the dollar, are on the brink of transforming the payment industry, a notion supported by fintech giants like PayPal and Stripe. Despite the bullish sentiments expressed by industry leaders, including John Collison of Stripe, the data underscores the nascent stage of stablecoins as a viable payment instrument, Bloomberg reported. While the potential for stablecoins to disrupt the payments sector is acknowledged, practical hurdles remain. Airwallex's Pranav Sood highlights the imperative of enhancing existing payment infrastructure to facilitate seamless adoption. Moreover, user-friendly interfaces are crucial, with many consumers still favoring traditional payment methods due to ease of use.Despite the challenges, analysts predict a significant surge in stablecoin circulation in the coming years, with the potential for the total value to reach $2.8 trillion by 2028. Recently, Stripe made a comeback into the cryptocurrency space after exiting the sector six years ago. However, this time, the payment firm is embracing stablecoins to facilitate transactions and minimize risks.Institutional Stablecoin AdoptionStripe's decision to use stablecoins marks a departure from its previous foray into crypto, which was marred by volatility and technical challenges. Stablecoins, such as Circle's USDC, offer a predictable value, mitigating the sharp fluctuations associated with traditional cryptocurrencies like Bitcoin. During a recent presentation, Stripe's Co-Founder and President, John Collison, demonstrated a seamless crypto payment using USDC, emphasizing its stability and suitability for online transactions.Reflecting on their earlier experience with Bitcoin payments, Collison acknowledged the shortcomings, labeling it as a "pretty terrible payment experience." However, this time around, Stripe is betting on stablecoins to provide a more reliable and user-friendly payment solution. Stripe's resurgence in the crypto realm comes at a time when the company is experiencing exponential growth in payment volumes, surpassing $1 trillion. With clients, including industry giants like Zara and Ford, Stripe continues to solidify its position in payment processing. This article was written by Jared Kirui at www.financemagnates.com.

Crypto.com Hits 100 Million User Milestone, Credits Marketing Campaigns

May 6, 2024 | 09:11 am

Crypto.com has reached a new milestone by surpassing 100 million users globally, marking a significant achievement for the company since its inception in 2016. The cryptocurrency exchange attributed this achievement to its latest marketing campaigns, which include partnerships with renowned personalities, venues, and events.Partnerships Propel Crypto.comSome of the marketing efforts include hosting NBA and NHL playoffs at the Crypto.com Arena and the Formula 1 Crypto.com Miami Grand Prix. Additionally, the firm recently released a film for its brand dubbed "INEVITABLE" under the campaign "Fortune Favors the Brave." Kris Marszlek, the CEO of Crypto.com, mentioned: "Positioning our brand through engaging campaigns and iconic partnerships has made Crypto.com a household name. But I'm most proud of the fact that we've surpassed the 100 million user milestone while building the most widely regulated platform in the industry by leading in global licenses and registrations."We’ve crossed a major new milestone.#CROFam is now 100 million strong 💪Thank you to all our users who’ve been with us from the start, and those who’ve just joined us. 🙏Get all the details:https://t.co/UnzFph4hvw pic.twitter.com/LIAFtkhSGo— Crypto.com (@cryptocom) May 6, 2024In May, Dubai's Virtual Assets Regulatory Authority licensed Crypto.com to offer full operations in institutional crypto trading under a new platform dubbed Crypto.com. The exchange's regional arm, CRO DAX Middle East FZE, obtained a Virtual Asset Service Provider license in 2023. Crypto.com Exchange, designed for both institutional and qualified retail investors, offers a range of services, including spot trading, staking brokerage, and over-the-counter offerings. Crypto.com aims to strengthen its position in the global cryptocurrency market with plans to roll out the Crypto.com app and other products for retail investors in Dubai.Global Expansion InitiativesBeyond Dubai, Crypto.com is expanding its presence in other regions. This includes a recent announcement of a specialized trading platform for Korean users. Additionally, Crypto.com and Brazil's BTG Pactual teamed up in February to enhance banking services in Latin America. By integrating BTG Pactual's stablecoin, BTG DOL, Crypto.com seeks to facilitate transactions between traditional financial systems and the emerging digital economy. The goal of this partnership is to democratize access to the digital economy for individuals and businesses in Latin America. The collaboration builds upon Crypto.com's existing presence in Latin America, where it holds a Payment Institution License from the Central Bank of Brazil. Crypto.com has also secured licenses in the Netherlands, Spain, France, and the UK. This article was written by Jared Kirui at www.financemagnates.com.

SEC Targets Robinhood's Crypto Trading Arm with Potential Enforcement Action

May 6, 2024 | 07:12 am

The Securities and Exchange Commission (SEC) could potentially bring an enforcement action against Robinhood, according to a Wells notice recently issued to the company's cryptocurrency trading arm on May 4. This development comes despite Robinhood asserting that the assets listed on the platform are not securities.Navigating Regulatory Challenges"On May 4, 2024, Robinhood Crypto (RHC) received a "Wells Notice" from the Staff of the SEC stating that the Staff has advised RHC that it made a "preliminary determination" to recommend that the SEC file an enforcement action against RHC alleging violations of Sections 15(a) and 17A of the Securities Exchange Act of 1934, as amended," Robinhood mentioned in a filing with the regulator. Robinhood's receipt of the Wells notice highlights the ongoing regulatory challenges facing cryptocurrency trading platforms. The SEC's heightened scrutiny reflects broader efforts to establish clearer guidelines for the cryptocurrency market, which has rapidly grown in recent years.BREAKING: 🇺🇸 Robinhood Receives Wells Notice from SEC.Explore the event on Messari Intel: https://t.co/wpDTV2loyC pic.twitter.com/GKjsacFqnP— Messari (@MessariCrypto) May 6, 2024The SEC's actions have reverberated across the cryptocurrency market, with Robinhood's stock experiencing a 2.5% decline in premarket trading following the announcement, Coindesk reported. "The potential action may involve a civil injunctive action, public administrative proceeding, and/or a cease-and-desist proceeding and may seek remedies that include an injunction, a cease-and-desist order, disgorgement, pre-judgment interest, civil money penalties, and censure, revocation, and limitations on activities," Robinhood added.Robinhood Fights BackIn response to the Wells Notice, Robinhood's Chief Legal, Compliance, and Corporate Affairs Officer, Dan Gallagher, expressed disappointment about the SEC's decision. Despite the firm's efforts to collaborate with the commission for regulatory clarity, including attempts to register its services, Robinhood claims the latest move is causing tension between regulators and crypto platforms. Gallagher emphasized Robinhood's stance that the assets listed on its platform do not constitute securities. He claims that the firm has refrained from listing certain tokens and withheld products like lending and staking to remain compliant. Additionally, Robinhood reportedly responded to the SEC's calls by attempting to register a special-purpose broker-dealer.Meanwhile, the SEC issued a Wells notice to the parent company of the decentralized finance (DeFi) platform Uniswap last month, highlighting the regulator's attempt to regulate the DeFi sector. However, Uniswap contended this decision, emphasizing that its operations are transparent.Today Uniswap Labs received a Wells notice from the SECAnd we're ready to fightThis is the latest political effort to target even the best actors in crypto like Uniswap and CoinbaseAll Uniswap products and the Uniswap Protocol are unaffectedhttps://t.co/i2p5LubELk— Uniswap Labs 🦄 (@Uniswap) April 10, 2024The SEC's move followed similar actions against other crypto exchanges, such as Coinbase and Binance. These regulatory actions mark the increasing scrutiny faced by platforms operating in the digital asset space and the ongoing legal battles between regulators and industry players. This article was written by Jared Kirui at www.financemagnates.com.

Kraken Announces Partnership to Enhance Crypto Offerings in German Market

May 6, 2024 | 06:37 am

Kraken has unveiled its latest strategic move aimed at bolstering its presence in the European market. The company has announced a new partnership designed to facilitate the expansion of its product offerings in Germany, a pivotal market in the region for crypto adoption.Forging Partnership to Enhance Crypto Services in GermanyScheduled to commence around July 10, 2024, this collaboration will enable Kraken to provide German clients with access to a diverse range of innovative crypto products. The partnership will leverage the expertise and infrastructure of DLT Finance, a subsidiary of DLT Securities GmbH and DLT Custody GmbH, both licensed by BaFin, Germany's financial regulatory authority. DLT Finance specializes in digital asset prime brokerage and crypto custody services, ensuring secure and compliant transactions for millions of potential users in Germany.“Collaborating with industry-leading partners is a vital component of our mission to accelerate the global adoption of crypto. Over 5% of Germans already own cryptoassets, and we’re confident our innovative product suite – along with excellent local language client service support – will be attractive to prospective clients as crypto continues to become more mainstream across Europe,'' said Kraken CEO David Ripley. Acquisition and Regulatory ComplianceThis strategic move aligns with Kraken's European growth strategy. Notably, the company announced its intention to acquire Dutch crypto broker Coin Meester B.V., indicating its commitment to scaling its operations across the continent while adhering to regulatory requirements.Kraken expandiert: DLT Finance ermöglicht US-Handelsplattform regulierten Zugang zu deutschen Kunden https://t.co/IRZpop45VP #ots #finanzen #news pic.twitter.com/iAbTRU2VKU— Presseportal Wirtschaft & Finanzen (@pp_wirtschaft) May 6, 2024Kraken's European expansion efforts have been characterized by a series of achievements, including obtaining an E-Money Institution authorization from the Central Bank of Ireland and securing registrations as Virtual Asset Service Providers in multiple European countries. The company's registration as a Crypto Service Provider in the Netherlands further underscores its focus on complying with regulatory frameworks as it expands its footprint in the region. This article was written by Tareq Sikder at www.financemagnates.com.

Coinbase Faces Another Class Action Lawsuit: Investors Allege Illegal Offerings

May 5, 2024 | 22:22 pm

The American cryptocurrency exchange, Coinbase, is embroiled in yet another class-action lawsuit. This lawsuit alleges that investors were misled into purchasing tokens classified as unregistered securities. Filed last Friday, the class action also contends that the exchange’s business model is unlawful.Another Class Action Against CoinbaseAccording to the lawsuit, Coinbase's listed tokens—such as Solana, Polygon, Near Protocol, Decentraland, Algorand, Uniswap, Tezos, and Stellar Lumens—are considered securities, rendering their listings on the exchange illegal.The lawsuit further claims that in its user agreement, the exchange acknowledged its role as a “securities broker,” thereby categorizing the digital assets it offers as investment contracts or securities. Additionally, the lawsuit states that Coinbase Prime, the platform dedicated to institutional clients, also operates as a securities broker.$COIN is facing a new class-action lawsuit for alleged investor deception.- Plaintiffs argue the exchange's business model is illegal and accuse Coinbase of selling unregistered securities.- Cryptocurrencies cited include Solana, Polygon, Near Protocol, Decentraland,… pic.twitter.com/NYpVeND5Gf— @TheLordofEntry (@thelordofentry) May 5, 2024This latest lawsuit is among several class actions the San Francisco-based company has faced in recent years. A similar lawsuit filed in 2022 also claimed the exchange listed 79 tokens as unregistered securities.The primary plaintiffs in this recent lawsuit are six individual investors—Gerardo Aceves, Thomas Fan, Edwin Martinez, Tiffany Smoot, Edouard Cordi, and Brett Maggard, residents of California and Florida. The case has been filed at the United States District Court for the Northern District of California, San Francisco Division.The plaintiffs are seeking full rescission, statutory damages under state law, and injunctive relief via a jury trial.Coinbase’s Legal TroublesCoinbase is also contending with charges from the U.S. Securities and Exchange Commission (SEC), which accuses the exchange of operating as an illegal trading platform by offering unregistered crypto asset securities. The regulatory lawsuit also alleges that the platform acts as an exchange, brokerage, and clearing agency—distinct roles under current U.S. laws—without the necessary registrations.In response, Coinbase has counter-sued the SEC, demanding clear regulations for the cryptocurrency industry. Moreover, Consensys, the company behind Metamask, recently sued the SEC, aiming to establish Ether as a non-security and to challenge the regulator's ambiguous authority over the Ethereum blockchain. This article was written by Arnab Shome at www.financemagnates.com.

Binance Assists Dutch Authorities in Exposing $30M Online Fraud

May 3, 2024 | 12:48 pm

Binance assisted the Dutch authorities in an investigation that led to the seizure of millions of euros worth of assets and the arrest of a 26-year-old man in suspected online fraud, the Fiscal Information and Investigation Service (FIOD) reported.Luxury Cars and Cryptocurrency SeizedDutch authorities, alongside the tax investigation service FIOD, seized assets totaling 11.4 million euros, including a luxury car and cryptocurrency holdings, in connection with the investigation. The saga involves a multi-million euro scam through an online platform, ZKasino.Binance mentioned on X: "Binance is proud to have supported Dutch authorities in the investigation of a gambling exit scam. Our Investigations team helped lead the recovery of millions of euros."#Binance is proud to have supported Dutch authorities in the investigation of a gambling exit scam. Our Investigations team helped lead the recovery of millions of euros.Find out more in this article from the national Dutch news outlet, NOS 👇https://t.co/61jqNcCrzN— Binance (@binance) May 3, 2024The culprit is suspected of being involved in the online platform soliciting monetary deposits. FIOD mentioned that ZKasino promised investors lucrative returns within 30 days. The scale of the alleged fraud is massive, with over $30 million reported to have been channeled to ZKasino globally.The investigation, triggered by information sourced from various channels, including Binance, commenced following concerns raised about ZKasino's operations. Collaboration between the FIOD and a division of Binance proved useful in securing millions of euros in crypto assets. However, the possibility of recovering all funds remains uncertain.Seeking Recourse for VictimsWhile the FIOD hopes for restitution, it emphasized the need for cooperation from those involved in the scam and urged victims seeking to reclaim lost investments to engage with authorities.Last year, Binance assisted Thai law enforcement agencies in tackling significant cryptocurrency scams plaguing the region. Working closely with the Cyber Crime Investigation Bureau of the Royal Thai Police, Binance's Investigations team helped dismantle criminal networks such as the notorious "pig butchering" scheme that affected thousands of victims in Thailand.#Binance Aids Royal Thai Police in Crackdown on Criminal Networks | @Binance Blog https://t.co/GzMGjTlzmI— CZ 🔶 BNB (@cz_binance) October 3, 2023As a result of this collaboration, five key members of a criminal group were arrested, and assets totaling around Thai baht (THB) 10 billion (approximately $277 million) were seized. These assets include luxury cars, houses, and land. Moreover, more than 3,200 victims have come forward seeking compensation for their losses.In addition to the successful crackdown on the "pig butchering" scam, Binance played a crucial role in disrupting another large-scale crypto scam involving a vast network of transnational criminal entities. This operation led to arrests across 30 locations and the seizure of illicit assets, including luxury residences, vehicles, and cash. This article was written by Jared Kirui at www.financemagnates.com.

ASIC Scores Legal Victory: BPS Financial Found Guilty in Qoin Wallet Case

May 3, 2024 | 01:31 am

The Federal Court has found BPS Financial Pty Ltd (BPS) guilty of engaging in unlicensed conduct concerning the 'Qoin Wallet', a non-cash payment facility utilizing a crypto-asset token known as 'Qoin.' The judgment was delivered by Justice Downes in proceedings brought by ASIC.Further Proceedings Ordered by the Court The court determined that BPS, from January 2020 onwards (with a brief exception of a 10-month period), violated the Corporations Act by lacking an Australian Financial Services Licence. Furthermore, BPS was not authorized by any licensee to issue or provide financial advice regarding the Qoin Wallet. Justice Downes also found BPS guilty of misleading or deceptive conduct and propagating false representations about the Qoin Wallet.Among the misleading claims, BPS falsely asserted that the Qoin Wallet was officially registered or approved, misrepresented its usability for purchasing goods and services from Qoin merchants, and misled consumers regarding the exchangeability of Qoin tokens for other crypto-assets or currencies. The court disclosed that prior to November 2021, the only digital currency exchange accepting Qoin was BTX Exchange, which had affiliations with BPS and did not facilitate independent exchanges of crypto assets. The court has mandated the involved parties to discuss further proceedings, including penalties, to address the remaining issues in the case. These deliberations are slated to occur later in 2024.The Federal Court has found BPS Financial engaged in unlicensed conduct over a non-cash payment facility which used a #crypto asset token called Qoin https://t.co/tHQkU9lUpQ pic.twitter.com/2bWhGGyhej— ASIC Media (@asicmedia) May 3, 2024Legal Scrutiny over Sales Practices of Payment FacilityBPS aggressively promoted Qoin tokens to both retail consumers and business owners, colloquially termed 'Qoin Merchants,' as a method of payment for goods and services. As of September 30, 2022, the Qoin Wallet had been issued over 93,000 times, with BPS accumulating over $40 million from Qoin Token sales. Justice Downes affirmed that the Qoin Wallet constituted a financial product, specifically categorizing it as a non-cash payment facility.Joe Longo, ASIC Chair, said: “Crypto assets are highly volatile, inherently risky, and complex. This makes it critically important that providers have the appropriate licences and authorisations, and that investors are provided with clear and accurate information. This case is an important reminder that many crypto products are financial products and that providers need to hold a licence.” This article was written by Tareq Sikder at www.financemagnates.com.

Coinbase Rides Bitcoin ETF Wave as Profits Soar past $1B in Q1

May 2, 2024 | 16:36 pm

Coinbase has released its first quarter report for 2024, showcasing a substantial 72% quarter-on-quarter increase in total revenue to $1.6 billion. This surge was accompanied by a notable net income of $1,176 billion, representing an increase of 1,588% YoY. This figure represents a turnaround from a net loss of $79 million in the same period last year. Compared to last quarter, Coinbase's net income surged 331%.The cryptocurrency exchange experienced an uptick in its market share across US spot and derivatives trading, along with reaching record highs in Coinbase Prime usage and USDC market capitalization. According to the company, notable international operations significantly contributed to the overall growth.Impact of Bitcoin ETFsCoinbase mentioned: "While we cannot attribute the increase in market capitalization to a specific driver, we believe this increase was influenced by a variety of factors, such as the launch of the Bitcoin ETFs, which have experienced over $11 billion in net inflows so far in 2024."Adjusted EBITDA increased from $324 million in the previous quarter to $1.014 billion, compared to $287 million reported in the first quarter of last year. Looking ahead, Coinbase anticipates continued momentum in Q2 2024, with robust projections in transactions, subscription, and service revenue.Recently, the crypto exchange secured registration as a restricted dealer from the Canadian Securities Administrators. This achievement marked an important moment in Coinbase's global expansion efforts, positioning it as the first international crypto exchange to attain registration in Canada. The approval in Canada added to Coinbase's growing list of registrations in key countries worldwide, including France, Spain, Singapore, Italy, Ireland, and the Netherlands. Meanwhile, in the United States, a federal judge in Manhattan recently permitted the US Securities and Exchange Commission to proceed with a lawsuit against Coinbase, albeit dismissing one claim.Navigating Regulatory HurdlesSpeaking about these regulatory challenges, Coinbase said: "On the legislative front, we are seeing a step change among key leaders in Washington DC aligning on the need for stablecoin legislation, which we believe is a hopeful sign that broader crypto legislation will eventually materialize in the US." The SEC sued Coinbase last June for violations of securities regulations related to the trading of certain crypto tokens. Central to the legal dispute is the interpretation of crypto assets as securities, with the SEC relying on established legal precedents to support its case. This article was written by Jared Kirui at www.financemagnates.com.

PayPal Partners with MoonPay to Expand Crypto Adoption in the US

May 2, 2024 | 10:02 am

MoonPay has partnered with PayPal to introduce a crypto purchasing option for cryptocurrency app users in the US. This service enables users to use PayPal for transactions via wallet transfers, bank transfers, and debit cards. The integration promises to enhance the accessibility and convenience of buying and trading cryptocurrencies by bridging the gap between traditional financial services and the crypto market.Expanding Crypto AccessibilityAccording to the announcement on X, the collaboration between MoonPay and PayPal signifies a significant milestone in the journey towards mainstream adoption of cryptocurrencies. Users have access to a wider range of digital assets as PayPal extends its offering of crypto tokens through MoonPay. Additionally, PayPal's integration into MoonPay's ecosystem represents a significant achievement in overcoming barriers to cryptocurrency adoption. Traditional banks have often imposed restrictions on transactions related to cryptocurrencies, leading to frustrations among users. This collaboration opens up new avenues for individuals seeking to invest in cryptocurrencies.🌙 Exciting news from MoonPay! 💳Today, we're thrilled to announce a game-changing integration: MoonPay has partnered with @PayPal to offer seamless fiat-to-crypto transactions for users in the U.S.!🧵👇 pic.twitter.com/N3kobMR2ru— MoonPay 🟣 (@moonpay) May 2, 2024"MoonPay allows PayPal users to buy and sell 110+ cryptocurrencies, not just limited options like PYUSD or ETH. For existing PayPal users, the integration streamlines transactions, eliminating the need to manually input card information. Buying crypto on MoonPay becomes as easy as a few clicks," MoonPay noted.Bridge Between Fiat and CryptoLast year, PayPal entered the cryptocurrency space after launching a stablecoin fully backed by the US dollar. Dubbed PYUSD, the launch of the digital asset marked a significant step towards bridging the gap between traditional fiat currency and the rapidly evolving digital asset space.PYUSD, developed in collaboration with Paxos Trust Company, is a digital asset anchored by US dollar deposits, short-term US Treasuries, and similar cash equivalents. This backing ensures that each unit of PYUSD is redeemable at a 1:1 ratio for US dollars.With PYUSD, PayPal users can transfer the stablecoin between their PayPal accounts and compatible digital wallets. To ensure transparency, Paxos will regularly publish a report outlining the financial instruments backing PYUSD. This article was written by Jared Kirui at www.financemagnates.com.

Binance Trial on Ice in Nigerian Court as Lawyers Demand Missing Documents

May 2, 2024 | 09:48 am

In a legal saga that has captured international attention, a Nigerian court has adjourned the money laundering trial against cryptocurrency exchange Binance and two of its executives until May 17. The decision came after a lawyer representing the exchange informed the court that he had not been served with the essential documents necessary to prepare for the case.Legal Proceedings Adjourned Binance, along with its executives Tigran Gambaryan and Nadeem Anjarwalla, find themselves embroiled in legal proceedings alleging money laundering exceeding $35 million and engaging in specialized financial activities without the requisite license. Gambaryan, a US citizen and head of financial crime compliance, and Anjarwalla, a British-Kenyan serving as a regional manager for Africa, stand accused in this high-stakes trial.During Thursday's court session, Binance's legal representative raised concerns about not receiving the additional proof of evidence crucial for preparing the defence. The lawyer highlighted the necessity of this documentation for adequately commencing the trial. However, he was promptly served with the over 300-page document while in court.Nigeria court adjourns Binance and execs trial to May 17 https://t.co/OPE4vXonkt pic.twitter.com/3WWzWeAB0E— Reuters Africa (@ReutersAfrica) May 2, 2024Judge Delays Binance Trial for Evidence ReviewResponding to the developments, the presiding judge opted to adjourn the proceedings to allow Binance's legal team ample time to scrutinize the provided evidence before the trial reconvenes on May 17.In addition to the ongoing money laundering case brought forth by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC), Binance and its executives face another legal hurdle. They are also implicated in four counts of tax evasion, a separate trial for which is set to resume concurrently on May 17.Earlier, Finance Magnates reported that two senior executives' detention raised concerns over diplomatic relations and cryptocurrency regulations. Authorities accused Binance of currency speculation, demanding user data to stabilize the devalued naira. President Tinubu's administration sees crypto exchanges as threats to reforms attracting foreign investment. This article was written by Tareq Sikder at www.financemagnates.com.

Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving

May 2, 2024 | 06:00 am

Bitget has released its latest proof of reserves (PoR) report for April 2024, highlighting a Bitcoin reserve ratio of more than 335%. The cryptocurrency exchange also indicated significant growth in USDT and ETH user assets since January 2024. The latest report arrived more than a week after the Bitcoin halving event.Exceeding $2.7B in ReservesBitget's PoR report disclosed a total reserve ratio of 176%, with that of ether at 229%. According to the crypto exchange, this update strengthens its commitment to transparency and financial stability. The exchange has implemented additional measures, such as a protection fund and monthly valuations, to mitigate risks.Gracy Chen, the Managing Director at Bitget, mentioned: "Bitget is unwavering in its commitment to transparency and financial stability. Our latest PoR update reinforces our dedication to safeguarding user assets and upholding the highest accountability standards. With a total reserve ratio of 176%, Bitget continues to lead by example in the cryptocurrency exchange industry."On April 22, 2024, Bitget's total reserves exceeded $2.7 billion. The company plans to conduct routine audits to ensure continuous visibility into its reserves. The latest update highlighted a significant upsurge in USDT and ETH user assets by 51% and 46%, respectively, since January 2024.Last month, Bitget recorded impressive growth in the first quarter, with a significant increase in trading volumes and the value of its native token, BGB. Bitget's futures trading volume jumped to $1.4 trillion, marking an increase of 146% from the previous quarter.Growth in Trading Volumes The exchange experienced substantial growth in derivatives market share, with a 2.4% surge in March. Concurrently, spot trading volume surged by 113%, exceeding $60 billion during the same period.The surge in Bitget's trading volumes aligns with the broader trend observed across the cryptocurrency industry. According to Finance Magnates Intelligence, spot volumes for major cryptocurrency exchanges surged by 119% in March compared to the previous year and over 100% compared to February.However, Bitcoin mining farms are adjusting to the aftermath of the halving event. For instance, Bitfarms plans to invest $240 million to triple its current hash rate capacity to 21 exahashes per second to remain competitive, Cointelegraph reported. This move occurred after Bitfarms reported its lowest monthly earnings over two years.Bitfarms, like many other miners, experienced the impact of the Bitcoin halving, with its April earnings hitting a concerning low. Despite recording 269 Bitcoins in mining rewards and transaction fees, this figure was 6% lower than the previous month and 29% lower year-over-year. This article was written by Jared Kirui at www.financemagnates.com.

How to Add Mode Network to MetaMask

May 2, 2024 | 04:48 am

MetaMask is a popular cryptocurrency wallet and decentralized application browser extension. Adding the Mode Network to MetaMask allows users to easily access and interact with various decentralized finance applications and tokens. In this article, we will guide you through the steps to seamlessly integrate the Mode Network into your MetaMask wallet, unlocking a world of ... Read more

What is Nibiru chain (NIBI)?

Apr 19, 2024 | 08:33 am

Nibiru Chain (NIBI) is a blockchain platform that aims to revolutionize the gaming industry by providing a decentralized ecosystem for gamers, developers, and content creators. By utilizing blockchain technology, Nibiru Chain offers transparency, security, and fair distribution of rewards to its users. Let’s delve deeper into Nibiru Chain with this article What is Nibiru chain? ... Read more

How to Add SatoshiVM to MetaMask

Apr 18, 2024 | 22:26 pm

Looking to expand your MetaMask capabilities and dive further into the world of decentralized finance? Adding SatoshiVM to your MetaMask account can open up new opportunities for utilizing decentralized applications and interacting with the blockchain. Learn how to integrate SatoshiVM into your MetaMask wallet with ease. Can I Add SatoshiVM to MetaMask? Certainly, connecting SatoshiVM ... Read more

How to Add Degen Chain to MetaMask

Apr 18, 2024 | 21:16 pm

MetaMask is a popular cryptocurrency wallet and browser extension that allows users to securely store and manage their digital assets. One of the newest and most talked-about additions to MetaMask is Degen Chain, a decentralized finance (DeFi) platform that offers a range of innovative features and opportunities for users to earn passive income. In this ... Read more

Coinbold Partners with Solak GPT to Shape the AI-Driven Future of Web 3

Apr 17, 2024 | 20:27 pm

[Hanoi/Vietnam] – April 18, 2024 – Coinbold, a crypto news website and investor in transformative blockchain technologies, today announced a strategic partnership with Solak GPT. This collaboration aims to accelerate the development of Web 3.0 through the integration of powerful AI tools within Solak’s groundbreaking decentralized ecosystem. Solak GPT stands at the forefront of innovation ... Read more

Coinbold Announces Strategic Investment in Mars4 – MARS BATTLE

Apr 13, 2024 | 02:33 am

Coinbold, a leading investment firm in the cryptocurrency space, has announced its strategic investment in Mars4 – MARS BATTLE, a groundbreaking virtual reality gaming platform. Mars4 – MARS BATTLE, developed by the innovative team at Mars4, is an immersive gaming experience that allows players to explore the planet Mars through virtual reality technology. Players will ... Read more

Dubai Web3 Investment Conclave (DWIC) 2024 Announces Inaugural Edition, Driving Innovation and Sustainability in the Blockchain Ecosystem

Apr 8, 2024 | 01:12 am

Dubai, UAE – 06th April 2024 – The Dubai Web3 Investment Conclave (DWIC), organized by Giakaa Capital with co-host Leo Ventures, is set to become the premier gathering for the global Web3 community. Taking place from April 15th to 21st, 2024, at the DIFC Innovation Hub, this transformative event will explore the frontiers of Web3 ... Read more

What is Saga (SAGA)?

Apr 4, 2024 | 00:46 am

Saga is a protocol that provides blockchain development services for decentralized applications. Let’s dive right in and learn more in this article! What is Saga (SAGA)? Saga Protocol is a venture that offers blockchain construction services for applications. Essentially, Saga functions as a blockchain platform designed to introduce additional blockchains, known as “Chainlets,” within the ... Read more

What is Ethena Labs (ENA)?

Apr 2, 2024 | 00:49 am

Ethena is a project developed to address the issues of existing stablecoins in the cryptocurrency market. What is Ethena (ENA)? Ethena is a cutting-edge decentralized finance (DeFi) protocol built on the Ethereum blockchain. It is designed to generate synthetic dollars, which are digital assets that maintain price parity with the US dollar (USDe). The ENA ... Read more

How to add Metis to MetaMask: Metis Andromeda (Mainnet)

Apr 1, 2024 | 09:24 am

This is a detailed guide to adding the Metis network to a MetaMask Web3 wallet.

What is Mystiko.Network?

Mar 31, 2024 | 01:29 am

Maintaining confidentiality has consistently been a major issue, particularly in the cryptocurrency sector where all transactions are recorded on the blockchain and available to the public. As a result, developers have made it a priority to create projects that enhance privacy for users, making it harder to trace their on-chain actions. One of the projects ... Read more

The April Next Bitcoin Halving 2024: What’s Different and What to Expect for the Crypto Market

Mar 30, 2024 | 03:20 am

Get ready for the next Bitcoin (BTC) halving in April 2024; it could send shockwaves through the cryptocurrency market. Here’s everything you need to know about this important event, including what it means and how you might capitalize on potential shifts. What are Halvings? Bitcoin halving is a programmed event where the reward for bitcoin ... Read more

How to Add Core to MetaMask

Mar 25, 2024 | 20:33 pm

In this guide, we outline the safest and easiest way to add Core DAO to your MetaMask Wallet. Get started with the verified RPC and Chain ID to use the Bitcoin EVM chain.

How to Add NEO to MetaMask

Mar 25, 2024 | 08:02 am

In this guide, we outline whether you can add the NEO Layer 1 blockchain to your MetaMask Wallet. Get started quickly with the verified Chain ID and RPC details.

How to Add Shardeum to MetaMask

Mar 25, 2024 | 01:51 am

A safe and simple guide to adding Shardeum to your MetaMask Wallet to test the network and earn airdrop eligibility.

Protected: Folks Finance

Mar 22, 2024 | 04:53 am

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Blockchain Expo North America Returns to Connect Blockchain, Crypto, NFT and Web3 Ecosystems

Mar 10, 2024 | 23:58 pm

Blockchain Expo North America returns for its 8th year, taking place on June 5-6 2024 at the Santa Clara Convention Center in California. The event and conference is tailor-made for the ambitious blockchain enthusiast who is looking to learn the latest advancements and innovations within blockchain, crypto, NFTs, web3 and more. Building upon the success ... Read more

Blockchain Life Forum 2024 in Dubai: find out how to make the most of the current Bull Run

Mar 8, 2024 | 04:25 am

The highly anticipated Blockchain Life Forum 2024 is set to take place in the vibrant city of Dubai on April 15-16. Welcoming industry professionals and crypto enthusiasts from around the world, this legendary event promises to be an unforgettable experience. This time the central topic of the forum will be making money on Bull Run, ... Read more

Singapore Traders Fair and Blockchain Fest: A Day of Triumph and Innovation!

Mar 8, 2024 | 04:14 am

Singapore, March 5, 2024 – A day of triumph unfolded at Marina Bay Sands on March 2nd as two eagerly awaited events, the Singapore Traders Fair and the Blockchain Festival Asia 2024, jointly organised by global fintech event leader FINEXPO, concluded with resounding success. Welcoming a staggering total of over 2,500 attendees, this dynamic convergence ... Read more

DePIN: Is it the Next Big Wave in Blockchain?

Feb 29, 2024 | 21:51 pm

DePIN, short for Decentralized Public Infrastructure Network, is a new blockchain platform designed to address the scalability, security, and privacy issues in decentralized applications (#Dapps ). #DePIN utilizes a unique architecture that combines sharding, sidechain, and #PoS consensus to achieve high performance, strong security, and seamless interoperability between dApps. Here are some of the key ... Read more

Blockchain Life Week in Dubai: we have never seen this before

Feb 27, 2024 | 22:22 pm

The upcoming Blockchain Life 2024 Forum is set to be a game-changer for industry professionals and crypto enthusiasts from all over the world. With a lineup of renowned speakers confirmed, including the Founder of Tron, CEO of Tether, and CEO of Ledger along with many other leaders of the global crypto market. Gathering over 8000 ... Read more

Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland

Feb 26, 2024 | 22:19 pm

Next Block Expo, the Blockchain Festival of Europe, is gearing up for its return to Warsaw, Poland, on May 15-16, 2024. The event will be part of crypto week during which Poland’s capital will become the epicenter of crypto innovation in Europe. The organizers strive to present Poland’s burgeoning potential as the next big crypto ... Read more

Octavia Web3 Assistant Leverages AI for Improved Crypto Insights and Management

Feb 17, 2024 | 22:16 pm

A new Web3 project named Octavia is harnessing the power of artificial intelligence to simplify cryptocurrency research, portfolio management, and potentially streamline trading processes. Octavia distinguishes itself by providing users with access to advanced AI tools and on-chain data analysis. With an increasing number of decentralized applications and complex financial instruments emerging in the Web3 ... Read more

ERC-404: Could This New Token Standard Disrupt the NFT Market?

Feb 17, 2024 | 22:00 pm

Buckle up, crypto enthusiasts, because there’s a new kid on the blockchain that might just shake up the way we think about NFTs. It’s called ERC-404, and it’s aiming to bridge the gap between two of the most popular token types out there. Think of ERC-404 like a hybrid car – it seamlessly blends the ... Read more

What is ERC-404?

Feb 7, 2024 | 23:24 pm

ERC-404 is an experimental token standard introduced to the Ethereum ecosystem, expanding beyond the traditional ERC-20 and ERC-721 standards. This unofficial token standard on the Ethereum blockchain explores the concept of semi-fungible tokens, allowing for fractional ownership of assets like NFTs. The developer community within the Ethereum ecosystem is diving deep into ERC-404 projects, looking to ... Read more

How to Add Nibiru to MetaMask

Feb 1, 2024 | 20:19 pm

Can you Add Nibiru to MetaMask? Unfortunately, Nibiru and MetaMask are not compatible with each other directly because they operate on essentially different technologies. Nibiru utilizes its proprietary Inter-Blockchain Communication (IBC) protocol to function within the Cosmos ecosystem. It doesn’t work on the Ethereum Virtual Machine (EVM), which is MetaMask’s primary infrastructure. How to Add ... Read more

Dubai 2024 Welcomes the Pinnacle of Blockchain Innovation: The Global Blockchain Show

Jan 24, 2024 | 06:32 am

January 24, 2024. – Join the Global Blockchain Show 2024 in Dubai – an innovation hub showcasing pioneering blockchain technology and visionary experts, April 16-17. The Global Blockchain Show 2024 is set to take place in the magnificent city of Dubai, which is popular for its modern architecture and innovative approach. This event is a ... Read more

Coinbold Announces A Strategic Investment in Octavia

Jan 20, 2024 | 01:45 am

[Hanoi, January 20, 2024] – We are pleased to announce a strategic investment in Octavia, a prominent player in the blockchain and decentralized finance (DeFi) sector. This is not just a significant step but also a strategic partnership, marking the alignment between Coinbold and Octavia in shaping the future and development of the blockchain industry. ... Read more

Blockchain Life 2024 in Dubai – Waiting for ToTheMoon

Jan 18, 2024 | 18:19 pm

On April 15-16, the international forum Blockchain Life 2024 will bring together more than 8,000 crypto leaders and thousands of international companies at the main event of the year in Dubai. Official Trailer 2024: https://youtu.be/jSn8TWHV9Lg Buy a ticket: https://blockchain-life.com What to expect: On the 2 stages of the event attendees can anticipate market analysis and ... Read more

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