Seychelles-based cryptocurrency derivatives exchange Bitget has seen prolific growth in key metrics through the first half of 2023, driven by the integration of a recently acquired self-custodial wallet service. Bitget is currently undergoing a rebranding initiative following its acquisition of BitKeep, with the latter being renamed Bitget Wallet. The platform has produced some impressive market performance
The newly launched controversial crypto and ID project Worldcoin could face inquiries from data regulators in the United Kingdom as it raises concerns over privacy and critical biometric data safety, according to a Reuters report. The Information Commissioner’s Office (ICO) — the U.K.’s data regulatory body — acknowledged the launch of the crypto project in
The previous chairman of the United States Commodity Futures Trading Commission (CFTC), Timothy Massad, highlighted the importance of government attention being paid to the stablecoin ecosystem in an interview with CNBC. On July 24, Massad told the CNBC interviewer that he sees stablecoins as a bridge between “the crypto world and the real world” and
Chinese blockchain Sputnik’s maiden voyage A Chinese satellite has become the first in the world to carry a blockchain imaging and screening system into orbit. According to local news outlet Red Star News on July 22, the Tai’an Star Era 16 was successfully launched into orbit from the China Jiuquan Satellite Launch Center. Developed by
Wyoming is beginning its work on the state’s stablecoin, or, as it’s called officially, the “stable token” project, by opening a job position for a head of the stable token commission. The potential executive will lead a team, responsible for making a proper legislative framework for the project. The position was opened on the federal
Japananese prime minister Fumio Kishida reaffirmed the country’s commitment to foster the Web3 industry, highlighting its potential to transform the internet and kindle social change. Kishida made the comments in a keynote address on day one of the WebX conference in Tokyo, Japan as initially reported by local media outlet CoinPost. On the same day,
Crypto options exchange Deribit’s future-looking Bitcoin (BTC) volatility index — used as a crypto fear gauge of sorts — has reportedly reached its lowest level in two years, indicating a possible lack of price turbulence for Bitcoin in the near future. On July 24, crypto derivatives analytics platform Greeks Live noted that the volatility index
Since 2022, there have been at least 50 digital asset bills reportedly introduced to Congress, aiming to govern everything from stablecoins to the jurisdictions of United States regulators. However, at least four of them are seen as potentially having a major impact on the industry (if passed) — given the attention from lawmakers and the
A subtle change in Elon Musk’s Twitter bio after his platform’s rebrand to “X” has again fanned the flames of speculation — that Dogecoin (DOGE) may have a future on the platform. On July 25, eagle-eyed Twitter (now X) users began pointing out that Elon Musk’s profile location now sports both an “X” and a
Crypto exchange Binance and its CEO Changpeng “CZ” Zhao are planning to file a motion to dismiss a March-filed lawsuit from the United States commodities regulator. In a July 24 filing to an Illinois District Court, multiple Binance entities, Zhao and former chief compliance officer Samuel Lim said they plan to file two separate motions
Bitcoin-related investment products appear to have lost some of their sheen among crypto investors, recording its first week of outflows since Blackrock filed for spot Bitcoin ETF in June. According to a July 24 report by CoinShares’ head of research, James Butterfill, Bitcoin (BTC) investment products saw outflows of $13 million for the week ending July
The Connext cross-chain bridging protocol has announced a new token standard to reduce losses from bridge hacks. According to a July 24 announcement, the new “xERC-20” standard allows token issuers to maintain a list of official bridges and control how many tokens can be minted by each. In addition to Connext, decentralized finance (DeFi) platform
Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other
Maker has gained 53.5% over the past month, and the cryptocurrency witnessed a remarkable 28.1% surge between July 15 and July 22, achieving its highest daily close in nearly a year. While the gains are impressive, the real question is: Can the cryptocurrency sustain its current trajectory, or were short-term factors behind the price pump? Average
Worldcoin (WLD), the native token of the “privacy-preserving digital identity (World ID)” project founded by OpenAI co-founder Sam Altman, soared after listing on major crypto exchanges on July 24. At the time of writing, WLD trades at $2.22, reflecting a 33% gain on the day. Despite criticism from nearly every corner of the crypto sector,
The federal judge overseeing the criminal case against former FTX CEO Sam Bankman-Fried (SBF) has proposed an order preventing all involved parties and their attorneys from largely contacting the media. In a July 24 letter filed with United States District Court for the Southern District of New York, Judge Lewis Kaplan drafted a proposed order
The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance. The 77-page report was requested by Reps. Maxine Waters and Stephen Lynch before the midterm elections, when they were the chair and ranking member of
Bitcoin (BTC) plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions. Although the near term looks bearish, long-term investors remain unfazed and they
Currently, the crypto market is under fire from bears, and coins like Ethereum (ETH) are already starting to feel the heat. Amid the struggle to recover, there have been massive inflows of ETH into centralized exchanges, which could spell further struggles for the digital asset going forward. Ethereum Whales Move Millions To Centralized Exchanges Multiple
Coinbase CEO Brian Armstrong has reportedly said United States lawmakers have a renewed focus on regulatory clarity in the crypto space following talks with key officials. According to a July 24 Axios report, Armstrong met with U.S. lawmakers on July 20 ahead of discussions and votes on pieces of legislation aimed at providing regulatory clarity