Australia’s Federal Court ASIC, delivered a ruling against Bit Trade Pty today. Bit Trade Pty is the operator of the Kraken cryptocurrency exchange in Australia. According to ASIC, Bit Trade failed to meet the legal requirements for its margin trading product. In September 2023, ASIC initiated legal proceedings against Bit
August 23, 2024 2 mins read
El Salvador, under the leadership of President Nayib Bukele, has continued to make changes in the crypto world with its commitment to Bitcoin. Since November 2022, the country has been purchasing one BTC every day as part of its “1 Bitcoin a Day” program. This initiative will continue until Bitcoin
August 23, 2024 2 mins read
Holders of PayPal’s dollar-pegged PYUSD stablecoin will be eligible for an interest rewards program. Which is an advancement in the company’s stablecoin effort. The next stage in PayPal’s strategy to increase the use of its stablecoin is this program. This is a collaboration with Anchorage Digital. In a partnership with
August 23, 2024 2 mins read
Withdrawal fees for 22 different cryptocurrencies have been lowered by Upbit, a crypto exchange based in South Korea. Among them are well-known tokens such as Shiba Inu (SHIB) and Ethereum (ETH). Starting on August 23, 2024, at 1 a.m. ET or 2:00 p.m. KST, this change will take effect. Recent
August 23, 2024 1 min read
The U.S. Supreme Court is set to hear a legal dispute between chipmaker Nvidia and a class of its investors. This is a case that could have significant implications for the cryptocurrency industry. The Digital Chamber (TDC), warns that allowing this lawsuit could open the door to “frivolous securities lawsuits”
August 22, 2024 2 mins read
Binance Holdings Ltd., the world’s largest cryptocurrency exchange, will hire 1K new employees this year. Binance is significantly focusing on expanding its compliance team. This hiring spree comes as the company’s spending on regulatory compliance exceeds $200 million annually. Richard Teng, the CEO of Binance, shared these plans during an
August 22, 2024 2 mins read
Bad actors hacked the Instagram account of fast food giant McDonald’s and promoted a meme coin based on Solana. On his X (formerly Twitter) account, which is believed to have been compromised, the company’s director of marketing also published a relevant message. After hacking into McDonald’s Instagram account, the hacker
August 22, 2024 2 mins read
Vitalik Buterin, co-founder of Ethereum (ETH), has proposed the “Plurality” philosophy to address the conflict between the cryptocurrency ecosystem and more conventional forms of governance. Though he acknowledges that this pluralistic approach may improve current systems, he fails to see any chance of a substitute. American writer and economist Glen
August 21, 2024 2 mins read
Abu Dhabi is taking significant steps towards regulating fiat-referenced tokens (FRTs), a specific type of stablecoin. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) introduced a proposed framework on August 20. It aimed at overseeing the issuance and operation of FRTs. FRTs are digital assets
August 21, 2024 2 mins read
An unaudited report detailing the financial and operational performance of BitFuFu, a cloud mining firm affiliated to Bitmain, was published for the second quarter of 2024, concluding on June 30. In light of the difficulties and expansion the company has faced over the last year, the findings show that the
August 20, 2024 1 min read
