Ether’s price has hit a 7-day low of $1,788 on May 17, following a sell-off triggered by Chinese prosecutors’ crackdown on the NFT market and the UK lawmakers’ proposal to regulate crypto assets like gambling. The price drop has been further exacerbated by the decline in Bitcoin’s price, which lost its key $27,000 support level,
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Crypto.com, the Singaporean cryptocurrency exchange, has recently launched an update to its decentralized finance (DeFi) wallet service. The update enables support for fiat-to-crypto purchases in more countries and the addition of three new tokens. New Tokens and Fiat-to-Crypto Purchases In a recent blog post, Crypto.com announced that it has added Polygon (MATIC), USD Coin (USDC),
In a recent interview, Canadian psychologist and political commentator Jordan Peterson spoke with tech expert and entrepreneur Brian Roemmele about artificial intelligence and emerging technologies. During the conversation, Roemmele discussed how blockchain technology, specifically Bitcoin, could be integrated into a popular payment system due to its decentralized nature. Peterson agreed, stating that Bitcoin is the
Grayscale Investments has been asked by the United States Securities and Exchange Commission (SEC) to withdraw its application for a Filecoin Trust product, as the regulator believes that the underlying asset, Filecoin (FIL), can be considered a security. Grayscale had submitted a Form 10 application on April 14 for the updated Filecoin Trust product, which
The U.S. Securities and Exchange Commission (SEC) has issued a warning to Grayscale, stating that Filecoin (FIL) tokens qualify as securities. Grayscale, a crypto manager that is part of the Digital Currency Group, was asked to retract the Form 10 request submitted for the Filecoin Trust. This request would have made it an entity reporting
Celsius, a crypto lender undergoing bankruptcy and restructuring processes, has seen substantial activity in its wallets. Despite its ongoing situation, it has transferred nearly $900 million worth of ETH in the past week. Celsius is one of the largest firms with a staked ETH portfolio. Transfer of ETH to smart contract According to data from
Voyager Digital, a crypto lending platform that filed for bankruptcy in July 2022, has received court approval to begin repaying its customers’ trapped funds. However, the repayments will only cover 36% of what customers are owed. The liquidation procedures come after over 10 months of freezing customer withdrawals, which was caused by the bankruptcy of
Major centralized exchanges experienced a substantial growth in their futures trading volumes at the end of March. According to data from WuBlockchain, Bitfinex and Deribit saw triple-digit percentage gains in futures trading volume compared to February, at 122.7% and 111.8%, respectively, with figures reaching over $3 billion and $27 billion. Meanwhile, Binance recorded a 47.7%
China’s Supreme People’s Procuratorate has expressed concerns about the growing NFT market in the country. The market is still in its infancy and faces challenges due to a lack of industry standards and government regulation. These factors, combined with the novelty of the market, result in several financial and social risks, including price manipulation, scams,
Bitcoin’s Ordinal inscriptions have been gaining unstoppable momentum, defying skeptics and surpassing several milestones. The blockchain now boasts over 7 million inscriptions, a clear indication of the high demand for this trend. As of May 16, 2023, the number of inscriptions stands at 7,204,882, up from the inaugural one in December 2022. The growth rate
OKX, the cryptocurrency exchange, has announced that its wallet will soon support Bitcoin Ordinals and BRC-20 tokens trading. According to a statement released on May 16th, the exchange will enable support for BRC-20 token trading and BTC cross-chain swap this week, while support for Ordinal inscriptions and token casting will be allowed in June. The
The crypto market has taken a downturn just as Bitcoin (BTC) seemed poised for a price breakout. On May 16, Bitcoin hit a 7-day low of $26,970, causing concern among traders that a larger price dip may be on the horizon. Adding to these worries, a CME gap is currently sitting at $24,000. Ether (ETH)
In recent weeks, Coinbase has been requesting clear regulatory guidelines from the SEC to maintain compliance. In response, the SEC has remained silent, leading Coinbase to take legal action. The CEO of Coinbase, Brian Armstrong, has stated that his company is keen to avoid regulatory enforcement and instead, promote cooperation and amicable discussions with regulators.
On Monday, the Seoul Southern District Prosecutor’s Office conducted a search on two of the country’s leading digital asset exchanges, Upbit and Bithumb, as part of an investigation into a growing scandal regarding the suspicious cryptocurrency dealings of a South Korean opposition lawmaker. Kim Nam-kuk, a first-term member of the National Assembly, was accused of
Bitcoin’s recent volatility continued as it failed to break above $27,500 and subsequently retraced to fall below $27,000 once again. Altcoins also experienced minor declines, with Ethereum (ETH) nearing a break below $1,800 and Binance Coin (BNB) falling to $310. However, XRP was an exception with a notable price surge. Last week saw Bitcoin’s price
OKX, a leader in Web3 technology, has announced the launch of its new Ordinals Marketplace on OKX Wallet, allowing users to mint and trade Bitcoin Ordinals and BRC-20 tokens. This move demonstrates OKX’s continued support for the Bitcoin ecosystem and positions OKX Wallet as the only multi-chain wallet that facilitates trading and minting of Ordinals,
The five member nations of the BRICS economic bloc are developing guidelines to address the growing interest of other countries wanting to join the bloc. South Africa’s Minister of International Relations and Cooperation, Naledi Pandor, revealed the news while addressing the South African line ministry on “Strengthening Partnerships for a Fairer and More Equitable Global
Mattel, the popular toymaker, has teamed up with the Fast & Furious franchise to create a new digital collection that features the iconic vehicles from the films. The collection is set to be released in the form of non-fungible tokens (NFTs), providing fans with an exciting new way to engage with their favorite cinematic cars.
Ledger, a popular provider of crypto hardware wallets, has received criticism from its users after releasing an update that has raised security concerns. While the company has defended the update, experts and crypto holders are distancing themselves from the provider. The Issue The controversy began after a Reddit user raised questions about whether Ledger has
The European Union’s Economic and Financial Affairs Council has given unanimous approval to the Markets in Crypto-Assets (MiCA) regulation. The MiCA bill was also passed by the EU Parliament last month. The legislation sets out a comprehensive framework for regulating the crypto industry in the EU, including rules for utility tokens and stablecoins. The bill
Bitcoin Cash (BCH) advocates have unlocked new possibilities with the annual upgrade that took effect on May 15, 2023. With the new upgrade, they can now mint and engage in transactions involving tokens built on the BCH blockchain. This development, called Cashtokens, allows for token creation and transactions to be verified by the BCH network
A panel of lawmakers in the United Kingdom has recommended regulating the trading of unbacked cryptoassets, such as Bitcoin and Ether, as gambling rather than a financial service. The lawmakers stated that the lack of intrinsic value and the price volatility of these assets will inevitably pose significant risks to consumers. Regulating as gambling The
Lido DAO’s price has surged by 40% to reach $2.21, its highest in three weeks, after hitting a local low of $1.57 four days ago. Although the crypto market as a whole has risen by only 4.5% since May 12, LDO has outperformed other top-ranking crypto assets like Bitcoin and Ether. But what are the
Ether’s price has been struggling to maintain its $1,800 support level since May 12, and investors are facing pressures from a worsening regulatory environment for cryptocurrencies. The United States Securities and Exchange Commission (SEC) recently responded to Coinbase’s petition for clear crypto regulation, stating that rulemaking may take years, and enforcement actions will continue in
Worldcoin, the blockchain biometrics project co-founded by OpenAI CEO, Sam Altman, announced a $100 million funding deal this week. The latest round of investors includes both new backers and previous seed round investors such as a16z, Coinbase’s venture capital division, Khosla Ventures, and Sam Bankman-Fried. Despite the significant drop in venture funding for Web3 startups
Epic Games, the company that brought us the Unreal Engine and Fortnite, has announced a partnership with the LEGO Group to create a “family-friendly” Metaverse that is enjoyable and safe for users of all ages. This collaboration comes after Epic Games’ $2 billion funding round to accelerate its Metaverse ambitions. Combining Expertise for a Safer
Launchpad XYZ has a grand vision for the future of web3, where all aspects of decentralized finance, NFTs, play-to-earn gaming, and the metaverse are accessible through a single hub. To achieve this goal, Launchpad XYZ is conducting a presale of its $LPX utility token, which has already raised over $450,000, indicating strong interest in the