The US House Committee on Financial Services has given an ultimatum to Gary Gensler, the chair of the Securities and Exchange Commission (SEC), to respond to its inquiries. The Committee had previously requested the SEC to provide internal non-public documents regarding its activities. These include charges against Sam Bankman-Fried, the bankrupt FTX founder, crypto regulations,
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Bitcoin has been struggling to keep up with the demand for block space, resulting in a queue of unconfirmed transactions in the mempool. Just a few days ago, the mempool hit an all-time high with over 500,000 unconfirmed transactions waiting to be processed. This surge in demand is due to the recent craze for digital
In recent times, the crypto market has witnessed a surge in the number of projects that are geared towards environmental or social causes. These projects are taking advantage of the democratic nature of the crypto industry to unite people for noble goals. One of such projects is Chimpzee, which is currently conducting its presale. Chimpzee
Pepe memecoin has been gaining popularity in the cryptocurrency market. However, its hype has also attracted bad actors who have started creating scams related to the coin. According to blockchain security firm PeckShield, there have been at least ten memecoin scams created in the last three days. These scam tokens have had their liquidity removed,
Bybit, a popular crypto exchange, has officially announced its sponsorship of the Safehouse Racegraph Lamborghini team for Super Trofeo in Asia. This is another exciting move for Bybit as it continues to expand its presence in the world of finance. By sponsoring the Safehouse Racegraph team, Bybit will support the team’s quest for victory at
Milady (LADYS) is a self-organized memecoin named after an anime avatar nonfungible tokens (NFT) collection. Within 24 hours, the token surged over 5,250% and was trading at $0.0000001528 at the time of publication. The surge in token value occurred after Elon Musk tweeted a meme using the Milady NFT imagery, which sent the average Ether
MetaMask, a popular crypto wallet and decentralized application (DApp) provider, has announced that it will now allow Ether purchases through PayPal for its US users. The company claims to be the first Web3 wallet to offer this integration. This collaboration allows American users to select PayPal as their payment method for buying Ether, and it
According to CryptoQuant, a crypto market analytics firm, Bitcoin is out of the depths of the bear market and the bull market appears to have returned. Despite corrections always being on the table, the Head of BD & Strategy, Benjamin Brannan, has received word from institutional clients who intend to invest in Bitcoin and crypto
ALTAVA Group, a luxury fashion brand with a reputation for venturing into the metaverse, has partnered with Animoca Brands, a leading digital property rights company in gaming and the open metaverse. The goal of the partnership is to bring Bored Ape Yacht Club (BAYC) NFTs into the world of golf with the creation of the
Sovereignty refers to a country’s ability to govern itself independently, including regulating and controlling activities within its borders, such as those of cryptocurrency companies. Cryptocurrency companies face varying levels of regulatory frameworks worldwide, with some countries offering favorable conditions and others imposing stricter regulations or bans that limit operations and innovation. Sovereignty is the only
Brian Armstrong, the CEO and co-founder of Coinbase, has accused the US Securities and Exchange Commission (SEC) of going on a lone crusade for regulatory clarity in the country. According to Armstrong, the stance of the SEC differs from that of Congress and other federal regulators, and he believes that SEC Chair Gary Gensler is
As the financial sector releases its quarterly earnings reports, updates on the state of crypto adoption across the industry are emerging. Despite the lingering effects of the crypto winter, firms that have adopted crypto are reaping benefits. For instance, MicroStrategy, which has integrated crypto in its operations, has seen positive results. Block’s Quarterly Results Block,
TrueUSD (TUSD), a prominent stablecoin provider, has revealed plans to expand its management services internationally, reflecting a growing trend in the industry. Since its inception in 2018, TUSD has been at the forefront of stablecoin innovation, prioritizing regulatory compliance, and client due diligence. With a diverse network of financial institutions and fiduciaries, TUSD has been
Aave, a decentralized liquidity protocol, has deployed its V3 protocol on Optimistic rollup scaling protocol Metis. This deployment allows for a range of DeFi features and products to be brought to the Metis ecosystem. Aave’s community voted in favor of a proposal deploying on zero-knowledge (zk) proof EVM zkSync, paving the way for the DeFi
The world of non-fungible tokens (NFTs) continues to grow, with more artists, creators, and collectors entering the landscape. One recent development in this space is NFT staking, which offers a new way to earn rewards and maximize the value of digital assets. NFT staking involves locking up your NFTs on a blockchain platform to earn
Pepe (PEPE), a new memecoin, has experienced a significant drop in its price by more than 42% just days after reaching an all-time high on May 6. This has resulted in at least one investor suffering paper losses worth hundreds of thousands of dollars. According to Lookonchain, a blockchain analytics service, a cryptocurrency “whale” purchased
The latest nonfarm payrolls report has caused Bitcoin (BTC) to move lower at the start of the week. The report revealed that the number of jobs added to the US economy is higher than expected, justifying the Federal Reserve’s decision to increase interest rates by 0.25%. As a result, BTC/USD fell to an intraday low
Binance, a popular crypto exchange, has stated that the reports of large Bitcoin (BTC) outflows were false. Despite several data aggregators reporting outflows of up to 190,000 BTC in the last two days, the exchange stated that the reported outflows were internal movements between its hot and cold wallets, due to its address adjustments. These
Coinbase CEO Brian Armstrong has denied reports that the cryptocurrency exchange is planning to relocate its headquarters overseas to escape the US Securities and Exchange Commission’s (SEC) interference. Armstrong criticized the US for falling behind in cryptocurrency regulations but stated that Coinbase would remain in the US. In an interview with CNBC in Dubai, Armstrong
Coinbase, the US-based cryptocurrency exchange, is reportedly considering using the United Arab Emirates (UAE) as a hub for its international service in the Middle East and other nearby regions. Coinbase’s VP of International & Business Development, Nana Murugesan, recently tweeted about UAE’s potential to be a strategic hub for the exchange. The exchange’s CEO, Brian
Estonia has seen a significant drop of 80% in the number of registered crypto firms after it implemented a new law to prevent money laundering. The Financial Intelligence Unit, the money laundering regulator in the country, has revealed that the number of valid authorizations has decreased to just 100 from the previous 389 due to
Over the weekend, Bitcoin’s price continued to plummet, dipping below $28,000 for the first time in a week. This decline in value follows a volatile week with a price surge on Friday night to almost $30,000. However, the bears came out and prevented further increases, causing Bitcoin to rapidly lose value. On Saturday, the asset
The cryptocurrency XRP, previously known as Ripple, experienced a 5% decrease in value on Monday. The global market cap also slipped by over 3% during the day. XRP/USD dropped to its intraday low of $0.4333 at the start of the week, less than 24 hours after reaching a high of $0.4606. This decline caused XRP
Bolivia has passed a new law allowing the government to sell up to 50% of its gold reserves in dollars. This move is aimed at easing the internal scarcity of dollars in the country. The law gives faculties to the government to negotiate the sale of 22 tons of gold out of the almost 44
LP tokens are not just a representation of one’s assets in DeFi, but they also hold significant value as a fundamental component of the decentralized exchange (DEX) and automated market maker (AMM) used by various decentralized applications (DApps). Liquidity providers earn passive income through transaction-generated fees earned by the liquidity pool in proportion to their
According to Intelion Data Systems, a major Russian importer and distributor of mining hardware, Russia has the chance to increase its leadership in the field of crypto mining, against the backdrop of negative developments for the industry elsewhere. The company believes that the country’s share in the Bitcoin hashrate could potentially reach 18%, which will
Investors have been keeping a close eye on $IDEX, a decentralized exchange (DEX) that enables peer-to-peer trading of cryptocurrencies. The platform’s hybrid liquidity system has garnered popularity due to its high-performance order book in centralized exchanges and versatile automatic market making (AMM) integrated into decentralized exchanges. $IDEX’s unique blend of functionalities from a traditional order