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
Pepe the Frog meme coin, pepe (PEPE), has emerged as a new competitor in the meme token market. PEPE saw an impressive surge of 896% over the past week, making it the third-largest meme token, trailing only DOGE and SHIB. The token has been gaining momentum since its launch on April 14, 2023, and has
Coinbase Global, the popular cryptocurrency exchange, has reported losses for the fifth quarter in a row. Despite a recovery in crypto markets during the first quarter, customers and investors appear to have lost faith in the company. However, the company’s losses of $79 million were much lower than the $430 million it lost in the
Kazakhstan’s State Revenue Committee of the Ministry of Finance announced that the country’s coffers have received 3.07 billion tenge (nearly $6.9 million) in tax payments from entities involved in digital currency minting in 2022. Since January 1, 2022, cryptocurrency miners in Kazakhstan have been required to pay taxes and fees. They have already transferred 240
Recycle2Earn, the latest sensation in the world of Web3, has raised over $3 million in its presale from eco-conscious investors. The $ECOTERRA token took only a little over a month to reach this impressive milestone. With only four days left in Stage 4 of the presale, the remaining tokens available are likely to sell out
LPX Launchpad is the next best thing in the ever-expanding NFT market. The platform offers a range of innovative features designed to simplify crypto analysis and enable investors to make informed decisions. It is one of the most user-friendly platforms that harnesses the power of artificial intelligence to assign risk-reward scores to potential opportunities based
Over the past week, the cryptocurrency market has remained relatively stable, with the total capitalization remaining unchanged. However, there was some slight volatility in between, which did not sustain. Bitcoin is currently trading at $29,000, which is the same as its value a week ago. The cryptocurrency fell to $27,500 in the middle of the
Alibaba Cloud has announced a partnership with layer-1 blockchain Avalanche and service layer provider MUA DAO to launch Cloudverse, a metaverse launchpad that will enable businesses to create, deploy, and manage their unique metaverse environments on Avalanche’s blockchain. The partnership was revealed at the Avalanche Summit II event. The aim of Cloudverse is to provide
The UK Financial Conduct Authority (FCA) has taken action against unregistered crypto ATMs in the country, citing their potential for money laundering. The regulator conducted inspections in Exeter, Sheffield, and Nottingham in collaboration with local police. While crypto ATMs are legal in the UK, they must be registered with the FCA before operating. However, none
After the success of Pepe Coin, the world has been eagerly waiting for the next big thing in meme crypto. And now, SpongeBob Token ($SPONGE) has taken the market by storm, surging 700% within just 24 hours of its launch. The Launch of $SPONGE Launched at 10 AM (EST) on Thursday, May 4, 2023, SpongeBob
Kenya is set to impose a 3% tax on the transfer or exchange of cryptocurrencies to boost the country’s domestic revenues and narrow its fiscal deficit. The proposed tax is part of a newly-designed bill aimed at stabilizing the financial condition of the African nation. The bill also proposes a 15% levy affecting creators of