Bitcoin Cash (BCH) has recently experienced an astonishing rally, surging by 70% in just seven days. This significant price increase has sparked speculation about the potential of Bitcoin Cash surpassing Bitcoin. Currently trading near the $300 level, BCH has already completed an impressive 78.2% Fibonacci retracement, adding further interest to its upward trajectory. In this
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American multinational investment giant, Citigroup Inc., is reportedly reevaluating its collaboration with Swiss firm Metaco. Metaco specializes in providing crypto custody services for institutional investors and joined forces with Citi a year ago to develop and pilot the latter’s digital asset custody capabilities. However, recent market volatility has strained the relationships between traditional financial firms
Polygon Labs, the creator of the Polygon network, has put forward a proposed architecture for their upcoming project, Polygon 2.0. In a recent blog post on June 29, the team outlined their vision for the project, suggesting that it should consist of four distinct “layers” that would interconnect and form a network ultimately linked to
Reports have emerged that the U.S. Securities and Exchange Commission (SEC) has returned recent spot Bitcoin exchange-traded fund (ETF) applications. These applications, submitted by exchanges on behalf of BlackRock and Fidelity Investments, among others, were regarded as not meeting the required standard of being “sufficiently clear or comprehensive.” The SEC’s decision was based on the
The South Korean National Assembly recently passed the Virtual Asset User Protection Act, a comprehensive piece of legislation that aims to regulate the cryptocurrency industry in the country. The act combines 19 different bills related to cryptocurrencies and focuses primarily on investor protection. The move comes in response to a series of crypto-related scandals that
The Bank of New York Mellon (BNY Mellon) has encountered a setback in its digital asset custody business due to a regulatory hurdle. The Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121) mandates custodians of digital assets to include these assets on their balance sheets. This requirement poses a potential obstacle for
Ledger, a well-known crypto wallet service provider, has unveiled its latest product offering called Tradelink. This innovative trading and settlement network technology is specifically designed for asset managers, custodians, and exchanges/OTC with off-exchange trading capabilities. The primary goal of Tradelink is to simplify processes and enhance operational speed for these entities. Streamlining Trading Processes Tradelink
Revolut, a leading fintech firm from the United Kingdom (UK), has recently announced the discontinuation of support for three major cryptocurrencies on its platform. In an email sent to users based in the United States (US) on June 28, Revolut stated that Cardano (ADA), Polygon (MATIC), and Solana (SOL) will no longer be available for
French fashion brand Lacoste has taken a significant step in embracing non-fungible tokens (NFTs) by expanding its NFT ecosystem. The brand has introduced a rewards and co-creation feature for its UNDW3 community, following the successful release of its UNDW3 collection of profile picture (PFP) NFTs. With this expansion, Lacoste aims to provide its community with
Coinbase’s layer 2 application-focused protocol, Base, is getting closer to its mainnet launch. The team announced that it has fulfilled four out of five criteria required for launch, with the completion of rigorous security audits. These audits, conducted over a period of six months, both internally and externally, have given the Base team confidence in
CME Group, a prominent trading platform for derivatives, has announced its plans to introduce Ether/Bitcoin ratio futures this summer, subject to regulatory approval. This new futures product, set to launch on July 31, 2023, will enable traders to speculate on the relative price movement between the two cryptocurrencies. About Ratio Futures Contracts A ratio futures
The Blockchain Association is urging SEC chair Gary Gensler to recuse himself from regulatory proceedings, claiming that his statements display a “clear bias” against the cryptocurrency industry. Senior counsel Marisa Coppel argues that Gensler’s assertion that all cryptocurrencies, except for Bitcoin, should be classified as securities demonstrates a prejudgment of the facts without proper assessment
Cryptocurrency exchange EDX Markets, which recently launched, is reportedly in final negotiations with Anchorage Digital to serve as its custodian. This comes after EDX Markets terminated its collaboration with Paxos, a blockchain infrastructure firm, as reported by Bloomberg. Paxos was initially intended to be the custodian for EDX Markets, providing customers with direct access to
The Law Commission of England and Wales has recommended that digital assets, including cryptocurrencies, should be classified under a new category of personal property. In its final recommendation report to the government, the Law Commission outlined four specific recommendations. These recommendations focus on legislation for a distinct category of personal property, the creation of an
The XRP price has experienced a slight decline of 0.5% in the last 24 hours, reaching $0.475928. This decrease aligns with the overall drop in the cryptocurrency market during the same period. Over the course of a week, XRP has fallen by 4%, and in the past two weeks, it has seen a decline of
The CEO of BitGo, Mike Belshe, recently discussed the current state of U.S. cryptocurrency regulations in an interview with CNBC. Belshe expressed his belief that regulators in the U.S. have taken a strict approach towards the crypto industry, which has led to traditional financial firms largely staying on the sidelines. While there are a few
Eden Island, Republic of Seychelles – June 27th, 2023 – A new memecoin called PEPE is set to launch on the BNB Chain, following in the footsteps of its Ethereum counterpart. PEPE (BEP20) is an innovative memecoin that incorporates several distinctive mechanisms into its tokenomics. Inspired by the mischievous frog from the webcomic “Boy’s Club,”
The Sui Foundation, the team behind the Sui network and its native SUI token, has firmly denied allegations that it unlocked SUI staking rewards and sold them on cryptocurrency exchange Binance. In a series of tweets on June 27, the foundation addressed the claim and stated that no staking rewards or any other locked or
A groundbreaking web3 application called Quivr has recently been launched, allowing users to demonstrate their social credibility through the use of blockchain technology. The app’s development team made the announcement on June 27, revealing the unique features and benefits of this innovative platform. Quivr enables users to connect their accounts from various popular applications such
The Dogecoin price has experienced a slight increase of 1.11% today, reaching $0.06546. However, this uptick is likely to be a temporary relief for bearish investors. Despite the small price increase, Dogecoin is still struggling to regain momentum, and most indicators suggest that its multi-day slide will continue. The price faces immediate resistance at $0.06556,
EDX Markets, a crypto exchange backed by Charles Schwab, Fidelity, and Citadel Securities, has reportedly terminated its planned collaboration with Paxos and is now close to finalizing an agreement with Anchorage Digital, according to Bloomberg. In October of last year, EDX Markets had originally announced its partnership with Paxos. Paxos, a New York-based blockchain firm
Mythical Games, the prominent Web3 gaming studio, has reached a significant milestone by securing $37 million in funding for the initial phase of its Series C extension round. The capital influx was led by Scytale Digital, a leading digital asset manager, with contributions from renowned investors including ARK Invest, Andreessen Horowitz, and Animoca Brands. This
L The Memecoin (L) has taken the cryptocurrency world by storm following a tweet from Elon Musk in 2021. This tweet served as the inspiration for the creation of L The Memecoin, which recently had an explosive initial exchange offering on Uniswap. The price of $L skyrocketed by over 7,500% before experiencing a correction. Bitmex
Bybit, a prominent cryptocurrency exchange, has secured a license to operate in Cyprus and is set to expand its operations in the country. The license will allow Bybit to provide a full suite of services, including trading between cryptocurrency pairs and fiat currency pairs, financial services related to crypto assets, and custody solutions curated specifically
The Australian Treasury’s token mapping of digital assets will implement a “tech agnostic” and “principles-based” approach to define crypto assets. Trevor Power, an Australian Treasury assistant secretary, stated that the framework would classify tokens based on their function and purpose, making it easier to regulate them. The regulation would need to be “robust” to account
The XRP price has recently fallen by 1% in the last 24 hours, dropping to $0.483806 as the cryptocurrency market falls by a similar percentage within the same timeframe. Despite the recent dip, XRP has been up by 2% in the last 30 days and has gained 42% since the beginning of the year, thanks
The prices of Bored Ape Yacht Club NFTs have been highly volatile recently due to a series of transactions by Jeffrey Huang, also known as Machi Big Brother. Huang’s quick sale of over 50 Bored Apes within a few days has had a notable impact on the floor price of these NFTs. In fact, the