August Chronicles Another Month of Decline as 9 of 10 Leading Stablecoins Witness Supply Contraction
Over the past 30 days, nine of the leading ten stablecoins by market cap experienced declines, with BUSD witnessing the most significant dip, plunging 16.6%. As we wrapped up August, the combined value of these stablecoins hangs just below the $125…
Bitcoin, Ethereum Technical Analysis: BTC Erases Recent Gains as US GDP Disappoints
Bitcoin edged lower once again on Thursday, as traders continued to capture profits following gains on Tuesday. The latest drop followed data revealing U.S. gross domestic product growth in the second quarter that undershot expectations. Ethereum…
LBank’s $PINS IEO Ends with 51,556,343 USDT in Investments, PINs Network (PINS) will be listed in the LBank Innovation Zone
PRESS RELEASE. LBank recently concluded its Initial Exchange Offering (IEO) for the PINs Network project. The event secured a total investment of 51,556,343 USDT from 34,587 participants. This development followed a period of increased activity on…
Ramping up Blockchain Education Can Help Make South Korea the World’s Crypto Leader, Says Hashed CPO Edward Hong
According to Edward Hong, the chief platform officer (CPO) at the early-stage venture firm Hashed, South Korea’s decision to delay putting in place a comprehensive crypto regulatory framework seems to be more of a strategic move rather than…
An Analysis Into GoMining’s New NFT, and their Tokenomics Bitcoin mining company, GoMining, has changed the way we think about bitcoin mining with their GoMining NFTs, giving holders a share of ownership in their mining operations. With over…
Binance Finds Way to Serve Belgian Users After Cease Order
Cryptocurrency exchange Binance said it continues to provide services to residents of Belgium through its Polish entity. The announcement comes two months after the crypto trading company was ordered by the Belgian financial regulator to cease all…
South African Crypto Premium Surge After Kraken Abruptly Starts Blocking Deposits by Local Residents
The premium on crypto assets listed on South African exchanges briefly surged to 3.5% after Kraken’s abruptly started blocking deposits from users based in the African country. Some South African crypto experts have linked Kraken’s…
Swiss SEBA Bank Obtains In-Principle Approval to Offer Crypto Services in Hong Kong
Switzerland-based crypto-friendly SEBA Bank announced it has received an approval-in-principle to operate in Hong Kong. The regulatory nod brings the Swiss bank’s local entity closer to becoming a licensed provider of various services for crypto…
Africa-Focused Remittances Fintech Lemfi Raises $33 Million in Series A Funding Round
An Africa-focused remittances platform, Lemfi, recently said it has raised $33 million in a Series A round led by Left Lane Capital. Lemfi said it will use the capital raise to “expand its product offering to the United States, Europe, the…
In early August 2023, Bloomberg ETF specialists Eric Balchunas and James Seyffart estimated a 65% probability for the approval of a spot bitcoin ETF. However, as August draws to its conclusion, and in light of a U.S. court siding with Grayscale…
Green Bitcoin Mining: Nodal Power Secures $13M for Landfill Gas Conversion
Utah-based Nodal Power, which specializes in turning landfill gas into energy for powering bitcoin (BTC) mining hubs, recently announced a successful $13 million seed round backed by strategic investors. Bryan Black, Nodal’s CEO, stressed…
PYUSD’s Modest Footprint: A Tale of Languid Activity Amidst Stablecoin Titans
Following Paypal’s declaration about the introduction of a fresh stablecoin, the smart contract address has revealed that the quantity of PYUSD stood at approximately 26.9 million. In the subsequent 22 days, the supply of PYUSD has risen by…
Report: Tether Pivots to Bahamas’ Britannia Bank Amid US Banking Strains
In a recent report released on Tuesday, undisclosed sources detailed that the firm behind the top stablecoin in market cap, tether (USDT), is now banking with Britannia Bank & Trust. In the past month, tether’s supply has dipped by 1.3%…
Biggest Movers: Bitcoin Cash Back Above $200, TON Surges 16% Higher
Bitcoin cash (BCH) was one of Wednesday’s biggest gainers, as markets remained jubilant following the Grayscale court ruling. Following a recent streak of consolidation, the global crypto market cap rose by as much as 4% on the news. toncoin…
Sam Bankman-Fried’s legal team claimed last week that the FTX founder received assurances from lawyers his actions were lawful. However, federal prosecutors are now contesting the validity of Bankman-Fried’s defense strategy ahead of…
Bitcoin, Ethereum Technical Analysis: BTC Jumps Above $28,000, as Markets Remain Buoyed by Grayscale Court Win
Bitcoin climbed over the $28,000 level late on Tuesday, as markets reacted to the news that Grayscale had won its battle with the SEC. The ruling over the U.S. Securities and Exchanges Commission boosted crypto prices across the board, with bulls…
Pro-Bitcoin Miami Mayor Francis Suarez Drops out of GOP Presidential Candidate Race
Francis Suarez, the pro-bitcoin mayor of the U.S. city of Miami, became the first Republican to bow out of the party’s presidential primary race after he announced the suspension of his campaign on Aug. 29. According to some reports, Suarez…
In the rapidly evolving world of cryptocurrencies, stablecoins have emerged as a beacon of stability amidst the volatility of digital assets like Bitcoin and Ethereum. Stablecoins are digital currencies anchored to a diversified asset, such as fiat…
Crypto Exchanges Bybit and Okx Drop Cards of Sanctioned Russian Banks
Cryptocurrency exchanges Bybit and Okx have discontinued support for payment cards issued by sanctioned banks from Russia. The moves follow in the footsteps of Binance, the world’s largest exchange for digital assets, which recently removed such…
Crypto Analyst Predicts Stablecoin Adoption Boom Even in Face of Hostile Regulation
Jamie Coutts, an analyst from Bloomberg Intelligence, has predicted that stablecoin adoption will grow significantly once the issue of hostile regulations in the U.S. is put aside, noting “adoption under the hood is exploding.” Coutts…
Report: Nigerian Central Bank Sued for Dollarizing Economy
In a lawsuit filed by a Nigerian human rights activist, the country’s central bank is accused of failing to stop the dollarization of the economy. According to the activist, the central bank’s unwillingness to stop economic agents from…
Binance Mulls Leaving Russia, Limits Options for Russian Users
Crypto exchange Binance considers exiting Russia amid increased scrutiny over its services for users in the sanctioned nation. The news of the potential move comes after the exchange delisted several sanctioned Russian banks from its peer-to-peer…
Shiba Inu’s Shibarium Returns to Full Operation After Navigating Bridge Issues
The Shiba Inu development team has announced that Shibarium is now fully functional after recent challenges where funds became inaccessible in the bridge. Shiba Inu’s Shytoshi Kusama thanked Sandeep Nailwal, the co-founder of Polygon Labs, who…
SEC’s ‘Secret’ Filing in Binance Case Could Relate to Criminal Investigation, Says Former SEC Official
The U.S. Securities and Exchange Commission’s former head of Internet enforcement suspects that the SEC’s “secret” filing in the Binance case is a “rare” tactic that could relate to the Department of Justice’s criminal…
UniLend Finance Empowers Community Governance with the Launch of UFTG Token
PRESS RELEASE. UniLend Finance, a leading decentralized finance (DeFi) protocol is thrilled to announce the launch of its new wrapped governance token, UFTG (UniLend Finance Governance Token) as the revolutionary protocol approaches closer to…
US Congress Members Clash on the Potential Effect of Proposed Tax Rules on the Crypto Industry
Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted…
FTX Founder’s Expert Witnesses Face Exclusion in Fraud Trial
The U.S. Department of Justice filed a motion on Monday seeking to bar all seven of Sam Bankman-Fried’s proposed expert witnesses from testifying in the former FTX CEO’s upcoming fraud trial. Federal prosecutors cited issues with the…
While Bitcoin’s recent downturn suggests volatile times ahead, underlying metrics suggest a market full of nuance, anticipation, and strong belief, the latest Bitfinex Alpha report says. About 40% of Bitcoin’s total supply has been…
Court Rules in Favor of Grayscale Against SEC in Bitcoin ETF Conversion Lawsuit
A D.C. court has ruled in favor of Grayscale, the largest crypto asset manager, in its lawsuit challenging the U.S. Securities and Exchange Commission’s decision to deny the conversion of GBTC to a spot bitcoin exchange-traded fund (ETF). The…
Bitcoin Miners Feel the Pinch: 10% Value Drop Tanks Hash Price in August
August has proved to be a challenging month for bitcoin miners, facing two difficulty spikes and witnessing the currency’s value plummet over 10% in the past 30 days. This decline in value has pulled the network’s hash price to levels…
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