Ethereum Prices Surge After Favorable Court Ruling for Grayscale

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 Receives Regulatory Approval for Crypto Trading in Hong Kong

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 […]

Realized Loss Momentum Indicates Volatile September for Bitcoin

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 Secures Currency Transmitter License in Rhode Island, Moves Closer to Crypto Integration

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 […]

SEC Commissioners Clash Over NFT Crackdown

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 […]

Ethereum Poised to Win Stablecoin Wars, Bloomberg Analyst Says

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 […]

Crypto Exchange CoinSwitch Trims Team by 7%, Joins Industry Layoffs

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 Adds Bahamas Bank to Process Dollar Transfers

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 […]

Grayscale Wins Court Battle Against SEC, Bitcoin ETF Closer to Approval

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 Redirects Belgian Users to Polish Branch Amid Regulatory Pressure

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 […]