On August 29, Ethereum prices surged, and a whale bought 8,000 ETH at $1,709, spending 13.66 million USDC. The coin may post even more gains in the sessions following a shift in trader sentiment after a favorable appellate court ruling in the case pitting Grayscale, the issuer of several trusts, including the Bitcoin Trust, versus […]
SEBA Bank, a Swiss bank with a crypto-friendly arm in Hong Kong, has been granted in-principle approval from the Hong Kong Securities and Futures Commission (SFC) to deal in virtual assets. This license will allow SEBA Hong Kong to offer services such as over-the-counter derivatives, asset management for discretionary accounts in virtual assets, and advice […]
Bitcoin’s recent sell-off has caused a shift in focus to on-chain metrics, with one indicator pointing to a potentially volatile September. The realized loss momentum, a tool developed by Glassnode, is designed to detect significant market turning points. This metric, based on the activity of short-term holders, could be used to predict Bitcoin’s next move.The […]
X, the popular social media platform, has been granted a currency transmitter license by Rhode Island regulators, marking a step forward for the company’s foray into the financial services sector. This license is legally required for companies conducting financial activities related to sending and receiving money, including both fiat and crypto assets.The approval will allow […]
The US Securities and Exchange Commission (SEC) recently initiated legal proceedings against media and entertainment company Impact Theory, resulting in a cease-and-desist order and a financial penalty of over $6.1 million. Two prominent commissioners at the SEC, Mark Uyeda and Hester Peirce, have expressed their dissent against the agency’s enforcement action on Non-Fungible Tokens (NFTs).The […]
Jamie Coutts, a crypto market analyst at Bloomberg Intelligence, believes that Ethereum (ETH) will win the “upcoming stablecoin wars”. He states that Ethereum and its broader ecosystem, including layer-2 projects like Optimism (OP), Base and Arbitrum (ARB), leads all other alternative networks across most network-adoption metrics. However, Coutts notes that transferring the top stablecoin by […]
CoinSwitch, an Indian cryptocurrency exchange backed by Andreessen Horowitz (a16z), has recently reduced its team by 7%, or 44 people. This decision was made due to the decreasing level of customer activity. A spokesperson of the platform explained that the team was right-sized to align with the present volume of customer queries.CoinDCX, another local digital […]
Tether, the issuer of the popular stablecoin USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas, to its platform to process dollar transfers. It is unclear when the banking relationship between Tether and Britannia Bank began, but other reported banking partners include Deltec Bank and Capital Union Bank.The move […]
The U.S. Court of Appeals for the D.C. Circuit has ruled in favor of Grayscale in its lawsuit against the Securities and Exchange Commission (SEC). The court found that the SEC had failed to adequately explain why it approved two bitcoin futures ETPs but not Grayscale’s proposed bitcoin ETP.Grayscale had accused the SEC of “arbitrary […]
Binance, the world’s largest cryptocurrency exchange, has devised a strategy to retain its Belgian market following a suspension order by Belgium’s financial market regulator in June. The exchange has redirected all its Belgian users to its Polish branch, which is a registered virtual assets service provider (VASP) in the European Economic Area (EEA). Customers may […]
