Ripple Labs, a leading name in the blockchain industry, has faced significant setbacks over the past few years, mainly due to a drawn-out lawsuit with the US Securities and Exchange Commission (SEC). As discussions and debates surrounding the lawsuit’s impacts on the company’s growth continue, Hugo Philon, CEO of Flare Labs, shared his insights on
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Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community. While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community. The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued
Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese man’s $10M loss as court says Bitcoin lending not protected by law A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to
FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. FTX’s Official Committee of Unsecured Creditors (UCC) said despite its
BlackRock, a multinational investment company, shocked many in the cryptocurrency industry in June when it filed an application for an exchange-traded fund (ETF), the iShares Bitcoin Trust. It’s seeking to overcome 10-year-long opposition from United States regulators to cryptocurrency ETFs. A spot Bitcoin ETF would be tradable on a traditional stock exchange and track with
Weekly cryptocurrency asset flows for the week ending Aug. 4 reconciled at $107 million in outflows, continuing a three-week negative trend totaling $134.8 million. Once again, the lion’s share of movement was attributed to Bitcoin (BTC). With $111 million in outflows, Bitcoin funds negated the majority of inflows for the week. According to CoinShares’ Digital
Bitcoin (BTC) has been trading near the $29,000 level for the past few days. This suggests a lack of strong demand at higher levels but the only solace for the bulls is that they have managed to sustain the price above the immediate support. The uncertainty about the next directional move may have tempted short-term
The crypto space is never lacking of events – from hacks to memecoins frenzy, to traders realizing huge profits from trades. This time, it is the action of a particular Ethereum whale that has caught attention, one that has the ETH community in shock as to the reasons for such action. The mysterious whale in
The lower house of India’s parliament voted in approval of a bill that will ease data compliance regulations for Big Tech companies, according to a report from Bloomberg. On Aug. 7, the legislation that was approved by the house will ease storage, processing and transfer standards for major global tech companies like Google, Meta and
Coinbase CEO Brian Armstrong’s comments to a question about the USD Coin (USDC) stablecoin during the company’s second-quarter earning calls raised some eyebrows. While commenting on the market cap of USDC, Armstrong quipped that Binance moved some of its funds from USDC into another stablecoin, but despite that, the market cap of USDC has held
Decentralized asset management platform Valio has launched publicly, according to an announcement from the platform’s team. The new protocol allows users to have their funds managed by professional traders but without having to trust these traders as custodians. The app’s launch is initially taking place on the Abitrum and Optimism networks. Valio previously launched in
CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC). The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL)
Blockstream CEO Adam Back, one of the crypto’s early pioneers, is pretty confident Bitcoin will hit an all-time high of over $100,000 before Bitcoin’s halving in 2024 — and is willing to drop a million wagering on it. In an Aug. 7 conversation on X (formerly known as Twitter), Back agreed to a bet with
MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol. At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an error: “Accessing this website
Bitcoin (BTC) continued its boring price action over the weekend, indicating that the bulls and the bears are not waging large bets as they are uncertain about the next directional move. Nevertheless, traders should continue to keep a close watch because a period of consolidation is usually followed by an increase in volatility. Although it
Bitcoin (BTC) is preparing a “full bull” BTC price phase in classic style, market cyclist Cole Garner believes. In social media analysis on Aug. 6, the popular on-chain analyst said that major upside awaits both Bitcoin and the broader crypto market. Bitcoin “bull market’s backbone” strengthening BTC price action continues to stagnate, but those looking
The central bank digital currency (CBDC) project, being developed by the Bank of Russia has now got its official logo. The Bank of Russia has also published commission fee rates, which would exceed zero points only in 2025. Source: The Central Bank of Russia On August 3, the Bank of Russia revealed the corporate identity
The Bank of Canada (BOC) reported a decline in the ownership of Bitcoin (BTC) and cryptocurrencies in the country last year as neither market conditions nor regulations sided in the favor of Canadian crypto investors, according to a BOC study published last week. The annual Bitcoin Omnibus Survey (BTCOS) conducted by the Canadian central bank
Massachusetts securities regulators have started a new investigation into the use of artificial intelligence (AI) in the securities industry, after becoming increasingly concerned about the implications. On Aug. 3, Massachusetts Secretary of the Commonwealth William Galvin officially announced an investigation into the ways in which firms may be using AI in their interactions with Massachusetts
Bitcoin (BTC) inched higher at the Aug. 4 Wall Street open as mixed United States unemployment data rocked U.S. dollar strength. BTC/USD 1-hour chart. Source: TradingView U.S. unemployment gives mixed picture Data from Cointelegraph Markets Pro and TradingView followed BTC price action as BTC/USD set daily highs of $29,273. U.S. jobless figures came in below