SNX, the Synthetix Network’s native token, has risen by more than 35% in the recent week. The cryptocurrency has maintained significant bullish momentum in recent weeks, resulting in a solid market performance. The recent increase in the price of SNX has been attributed to the good attitude surrounding the Synthetix network. The protocol revealed its

Binance, the world’s largest cryptocurrency exchange, recently celebrated its sixth anniversary. The platform, which began as a crypto-to-crypto exchange with 5 tokens in 2 languages, today supports over 600 tokens in over 40 languages and serves over 140 million users globally. The company was founded six years ago after raising $15 million in cryptocurrencies. Despite

Ripple CEO Brad Garlinghouse recently offered his thoughts on the current legal struggle with the Securities and Exchange Commission (SEC), forecasting a lengthy appeal process. On July 15, 2023, he discussed his findings with Bloomberg. On July 13, a court verdict largely sided with Ripple Labs in a complaint filed by the SEC in 2020.

Bitcoin exchange Coinbase has paused its retail staking service in California, New Jersey, South Carolina, and Wisconsin after those states announced they would require adjustments to those services while its legal procedures against such staking services proceed. Cryptocurrency staked before the orders were issued will be unaffected. The SEC filed a lawsuit against Coinbase last

Haru Invest, the struggling cryptocurrency investing platform, has issued an update on its ongoing attempts to recover assets and rectify concerns related to the B&S Holdings inquiry. The corporation announced in a July 14, 2023 announcement that it is actively contacting with asset managing partners both locally and internationally in order to recover funds under

A New York-based hedge firm called Fir Tree Partners is launching a brand-new fund that will specialize in distressed crypto assets in an effort to profit from the extreme volatility the sector has seen over the previous several months.According to an email, the Fir Tree Digital Asset Opportunities Fund will debut on August 1. “Fir Tree is at its best when we identify opportunities that are mispriced, dislocated or complex. Rarely do we encounter situations that are all three, but that is precisely what we are seeing in digital assets right now,” Fir Tree wrote. The year 2017 saw a record number of cryptocurrency failures and bankruptcies, including Three Arrows Capital, Voyager Digital, BlockFi, Celsius, FTX, and Genesis’ lending division (which, like CoinDesk, is controlled by the same company that owns Digital Currency Group).Fir Tree has experience in the cryptocurrency space; it has attempted to short Tether’s USDT stablecoin and engaged in legal disputes with bitcoin fund manager Grayscale (another DCG division). In its email, Fir Tree pointed out that it has “no view

Since the wallet is browser-based, it is exempt from any limitations that may be imposed on wallets that are downloaded via Apple or Google’s app stores.The decentralized social media software Damus and other products with a focus on bitcoin are apparently being blocked by Apple.The creator of that app was compelled to take out a bitcoin tipping feature because Apple later deemed it to be an unapproved method of paying for digital content.Later, two of the creators of Mutiny created a workaround for the Damus feature called Zapple Pay, which uses emojis to initiate tips. According to Mutiny CEO Tony Giorgio, the fundamental feature that distinguishes the product from its rivals is the ability for unconstrained innovation provided by a web-based wallet. “Our main difference compared to other Lightning wallets like Phoenix and Muun is that our wallet is a progressive web app (PWA),” Giorgio said in an interview. “So we can ship and push updates that are not restricted to the limitations of the Apple or Google store platforms.” The ability to send and receive money on Lightning, Bitcoin’s second layer payment network, allowing less expensive and quicker transactions, is one example of such innovation. Mutiny refers to these channels as “just-in-time channels,” which are a feature that lessens the effort of managing channel liquidity.Liquidity management is seen by many analysts as Lightning’s weak point.Lightning has significant issues, according to Bitcoin researcher and developer Burak Keceli, who stated it last month. But the inbound liquidity issue is my top concern. The Nostr Wallet Connect (NWC) protocol-based social tipping functionality offered by Mutiny is another noteworthy feature.Because of this, the wallet can quickly and easily interact with Nostr applications like Damus to provide tips, or “zaps.”Beyond tipping, the capability can be expanded to make it easier to pay for subscription-based goods and services.Nostr stands for “notes and other stuff transmitted by relays.”It took some ingenuity to enable zaps via emojis for Mutiny Chief Technology Officer Ben Carman and Chief Product Officer Paul Miller to introduce Zapple Pay last week. As a result of Damus’s ability to allow users to tip one other on information shared in the app—a prohibited action that the tech giant reportedly deems to be comparable to selling digital content—Apple threatened to remove the app from its App Store before it was even officially launched.

According to two letters made public recently, Congressman Ritchie Torres has requested two separate independent investigations of the U.S. Securities and Exchange Commission (SEC) for its “haphazard and heavy-handed approach to digital assets.” Rep. Torres (D-NY) requested an investigation into the SEC’s unusual decision to grant a special purpose broker-dealer (SPBD) licence to Prometheum, “a

Following the arrest of its CEO, Zhaojun, on May 21, 2023, the Multichain protocol, a cross-chain router protocol, has been left in limbo. The arrest resulted in a number of operational difficulties, including the revocation of operational access keys to the Multichain’s MPC node servers, which were under Zhaojun’s personal control. Because the servers and

According to a recent press release, users who had assets on the bankrupt crypto exchange FTX and lender Celsius Network can now trade their claims on the Open Exchange (OPNX). FTX owes consumers up to $8 billion after collapsing in November, precipitating a worldwide crypto market drop. According to the bankruptcy petition, Celsius owes its

A U.S. District Judge has set bail for Alexander Mashinsky, the founder and former CEO of the insolvent cryptocurrency lender Celsius, at $40 million after his arrest on fraud-related charges on Thursday.Following his Thursday arrest, Mashinsky entered a not guilty plea to seven counts of deceiving investors and manipulating the price of his CEL cryptocurrency, according to the court document.As part of the agreement, Mashinsky will be prohibited from traveling and from opening any new bank or cryptocurrency accounts.According to court documents, his wife will sign the bond while the other co-signer is still to be named.A financial claim on his New York City house and bank account will also serve as collateral for the bond. Federal securities and commodities regulators as well as the Department of Justice jointly announced their plan to take action against Mashinsky and other executives on Thursday.Mashinsky’s attorneys wrote in an email that their client “vehemently denies the allegations brought” and that “he looks forward to vigorously defending himself in court against these baseless charges.”

The MATIC token of the network would be replaced with POL in a token upgrade proposed by a group of Polygon founders and researchers, enabling POL to serve as a single token for all Polygon-based networks.The primary Polygon blockchain, the Polygon zkEVM network, and numerous supernets—application-specific blockchains that sit atop the primary Polygon network—are among these networks.In the first three minutes following the announcement, MATIC increased by as much as 2.6% to $0.747 thanks to the proposal. Network validators will be able to allow the functioning of several chains using a single token if the proposal is approved.Sending MATIC to the upgrade smart contract, which will instantly return the corresponding amount of POL, is the only technical activity needed to upgrade from MATIC to POL.If the community is in favor of the change, token holders would be given plenty of time to upgrade—a suggested four years or more. Community members on each Polygon chain will ultimately determine which token will be used for gas fees, some may choose for POL.Decentralized applications developed on Polygon will allow holders to vote on governance ideas using POL, and POL will be used to distribute all rewards.

According to a tweet from on-chain analytics service Lookonchain on Thursday, an early Shiba Inu (SHIB) investor who owns 10% of the token’s entire supply today transferred $30 million worth of their holdings to eight wallets.According to Lookonchain, a gigantic whale that has 101.47 trillion SHIB—more than $756 million at today’s prices—transferred 4 trillion SHIB, or $30 million, to eight new locations today.According to the company, this wallet is thought to be the single-largest holder of SHIB tokens.In the early days after issuance, it initially bought $14,000 worth of SHIB tokens and later sold slightly under $20 million worth in 2021. Accordingly, research indicates that most SHIB market depth is under $1 million on several cryptocurrency exchanges, and a sell order of that magnitude might rapidly shift token values by 2%. The wallet was probably related to the project’s developers, tweeted analytics tool Bubblemaps.The company cited a report from January that showed certain wallets bought 10% of the shiba inu supply soon after it was released, but overall they have kept the tokens instead of selling them to unsuspecting market players.Prices for SHIB haven’t changed all that much in the last day.The market value of the tokens is at slightly over $4.4 billion, down 91% from its peak in October 2021.

Barclays (BCS) is lowering its Coinbase (COIN) projections ahead of earnings and reducing the company to underweight from equal weight, according to a recent research note. Nonetheless, the bank increased its price estimate for the crypto exchange’s stock to $70 from $61. Coinbase shares were trading 1.4% down at $84.79 in premarket trading at the

Telegram merchants may now accept bitcoin payments as services provider Wallet moves outside its chat-centric payment method. The wallet, which is based on the The Open Network (TONNE) blockchain, already supports crypto transfers between users via chats. It is now allowing retailers to integrate cryptocurrencies into the payment systems they employ, according to an emailed

South Korea will compel corporations that possess or issue cryptocurrency to disclose their holdings in financial statements beginning in 2024, according to draught guidelines announced recently by the country’s financial authority. Companies will be required to publish information about the number, characteristics, business methods, and accounting procedures pertaining to the sale of virtual currencies, as

Ryan Salame, the former co-CEO of FTX Digital Markets, is apparently being investigated by US authorities for possible campaign funding violations. Salame and his fiancée Michelle Bond, who ran for New York’s 1st congressional district as a Republican in 2022, are at the centre of this probe. Authorities are particularly interested in Salame and Bond’s

The United States Senate Committee on Finance solicited the cryptocurrency industry’s assistance in better understanding how Congress might address the tax difficulties and opportunities posed by digital assets. Chairman Ron Wyden and Ranking Member Mike Crapo posed a series of questions about nine topics in a letter made public on Tuesday, including digital asset loans,

A mid-year report from Chainalysis, which monitors rogue wallet addresses, claims that cryptocurrency offenders are making much less money this year as a result of a decline in hacks and frauds.According to Chainalysis, the industry’s overall losses to illicit actors until the end of June were in the neighborhood of $2.5 billion and had decreased by 65% from mid-2022, while legitimate actors had seen a “much less severe” decline in inflows during the sluggish bear market. Particularly scammers are making billions of dollars less this year.According to Chainalysis, two of the largest operations—VidiLook and Chia Tai Tianqing Pharmaceutical Financial Management—both of which promised investors high profits and then conned them out of their money—vanished.Despite bitcoin’s 83% increase in value year to date, a price spike that often encourages shady schemers, they haven’t been replaced.However, impersonation scams defy the trend, defrauding over 50% more victims this year than previous.As a result, whereas all other frauds have decreased by 70%, the number of people falling for con artists posing as authorities has decreased by only 23%. Unfortunately, the evil guys are not completely out of luck.With approximately $450 million already extorted, ransomware perpetrators, according to Chainalysis, are far surpassing projected 2022 haul.Attackers are having success infecting both large and small businesses with targeted ransomware and less advanced “spray and pray” malware.

Users of Coinbase’s crypto wallet now have a communication channel.The crypto business, which is publicly traded, announced on Wednesday that its wallet product will feature encrypted texting.Any two Ethereum addresses can now speak with one other as long as they connect to the same messaging network using the XMTP communication protocol.Although not the first cryptocurrency wallet provider to experiment with Web3 messaging, Coinbase’s integration is unquestionably the most extensive.1.3 million users with usernames are included in its wallet.Even more people on Web3 social network Lens are included in the pool of messageable Ethereum addresses. “Coinbase is enabling users to easily port their conversations from any of the ~450 applications built on XMTP to Coinbase Wallet,” said Director of Product Management Siddharth Coelho-Prabhu. “Its infrastructure allows Coinbase Wallet messages to be fully permissionless and interoperable while giving users the freedom to fully own their messages and transactions through their

Although China has prohibited the use of cryptocurrencies, stablecoins may play a role in the expansion of its national currency.Despite China’s ban on decentralised cryptocurrencies, Circle CEO Jeremy Allaire believes stablecoins can help China’s digital yuan spread. Allaire, the CEO of the company behind the USD-backed stablecoin In a recent interview with the South China

According to the most recent CoinShares update, digital asset investment products have received a strong inflow of $136 million in the last week. This spike marks the third consecutive week of inflows totaling $470 million, effectively balancing the outflows witnessed in the previous nine weeks. Bitcoin remains the primary focus for investors, with inflows topping

Cross-chain protocol According to CoinDesk, Axelar intends to develop a blockchain-based solution that would allow businesses and customers to quickly connect with decentralised applications (dapps) on Microsoft’s Azure cloud platform. The current market provides few options for developers and organisations looking to provide one-click user interoperability across several blockchain ecosystems, according to an Axelar spokesperson

According to a recent tweet by Worldcoin, Spain has become the company’s largest operating market in Europe. According to the tweet, more than 20,000 people sign up each month for World ID, Worldcoin’s proof-of-personhood method that preserves anonymity. This statement comes as Spain has made significant strides in the development of its artificial intelligence (AI)

Arkham Intelligence, an on-chain data provider, has launched a marketplace where users may purchase and sell on-chain cryptocurrency data. The Arkham Intel Exchange marketplace will include a native coin (ARKM) that is intended to “deanonymize the blockchain.”.The cryptocurrency will be launched on the Binance Launchpad, with 50 million tokens available for purchase, representing 5% of

Bankrupt crypto lender Voyager Digital has witnessed more than $250 in net outflows since resuming withdrawals on June 23, a year after filing Chapter 11 and halting withdrawals. According to Dune Analytics, the site currently has $176 million in cryptocurrencies. Voyager Digital has a Clean Asset ratio of 96.15%, omitting its native token VGX. The

By the end of this decade, the globe may have around 15 retail central bank digital currencies (CBDCs) in use, according to a study by the Bank for International Settlements (BIS).Nine central banks have also stated they’re “very likely” to issue a CBDC for wholesale usage in financial markets over the next six years, according to BIS, an organization with headquarters in Switzerland and is controlled by 63 central banks that collectively account for almost 95% of the global economy. According to the research, 93% of the 86 central banks examined by the BIS are now working on CBDC projects, with major nations like India, the U.K., and the European Union all seriously considering issuing a digital counterpart of their fiat currencies.The report stated that “global work on CBDCs has made further progress” since last year, with the work being particularly intense in emerging economies where it is considered as a method to assist the unbanked.Retail CBDCs should complement and coexist with other domestic payment options if they are issued. Cross-border remittances and consumer purchases were found to be the most common applications of stablecoins and other crypto assets, according to the poll results.The latest BIS poll, released in May 2022, concluded that the booming private crypto market had prompted central banks to consider their choices, though in certain areas, enthusiasm may have cooled after the 2022 crypto meltdown.The survey discovered that during the course of the year, more central banks have expressed a low likelihood of issuing a CBDC, with fewer still undecided. The Bank of England predicted the need for a digital pound earlier this year, while the European Commission unveiled a draft in support of a digital euro in June.According to the U.S. Treasury, it is looking into ways to make digital transactions as secret as feasible.Retail CBDCs have already been adopted by monetary authorities in the Bahamas, Eastern Caribbean, Jamaica, and Nigeria, while trials of a digital yuan in China have sparked concerns about the technology’s potential for governmental spying.

A phishing link was placed in the tweet and shared with the hack’s victims, leading them to believe it was from the Fantom Foundation. Hackers continue their persistent onslaught, showing no signs of relenting. Scammers began sharing a phishing link on Twitter shortly after the Multichain hack. The fraudulent distribution of Fantom FTM to individuals

AntChain, a subsidiary of Ant Group, has unveiled a new architecture upgrade for its privacy cooperation platform, AntChain FAIR, which includes Zero-Knowledge Proof (ZKP) as a basic technology for verifiable computation. This extends reliable data transfer to the validation of computing processes, data properties, and identities. ZKP is a cryptographic approach that allows one party

The overall number of new addresses added to the XRP Ledger increased significantly, reaching 138,790, marking a 31.8% increase over the same period in 2022.Despite ongoing concerns about the Ripple vs. SEC litigation, The XRP Ledger (XRPL) has shown tremendous growth in several areas of its protocol during the second quarter of 2023, according to