Second layer of bitcoin With the launch of its Ethereum Virtual Machine (EVM), Bitfinity hopes to enable Bitcoin DeFi apps using Runes and bring smart contracts to the realm of cryptocurrency. Bitfinity, which is based on the Internet Computer (ICP) protocol, connects to the Bitcoin network and enables asset bridging between different blockchains. Applications that employ Solidity, Ethereum’s smart contract programming language, will be able to access tokens based on Bitcoin thanks to Internet Computer’s tech stack. An email message on Friday stated that the Bitfinity EVM is made to enable developers to implement Solidity smart contracts based on Bitcoin, enabling them to transfer Bitcoin, Ordinals, and Runes. Like an operating system on a computer, an Ethereum virtual machine (EVM) is software that runs smart contracts. By adding smart contract functionality to Runes, a new Bitcoin protocol that debuted around a month ago along with the halving event, Bitfinity hopes to pique interest in the protocol and utilize it as a platform for developing Bitcoin DeFi apps. After a flurry of activity following its launch, Runes, which enables fungible tokens to be produced on the Bitcoin blockchain, immediately pushed network fees skyrocketing. But after that, things have quieted down a little.

A proposed law in Turkey aims to lower the risks associated with parties conducting business using cryptocurrency assets there. The parliament has received the proposal. Chairman of the ruling party Abdullah Güler submitted the measure, which will be carried out by the Capital Markets Board (CMB) and contains a number of restrictions pertaining to cryptocurrency

A representative for the family of detained Binance CEO Tigran Gambaryan claimed on Friday that the Nigerian court rejected the executive’s bail plea due to the possibility that he would be able to evade custody. The money laundering, tax evasion, and bail hearings for Binance and its executives, including the exchanges’ jailed Head of Compliance

Residents of Hong Kong are now able to use e-CNY wallets thanks to an expansion of the cross-border digital yuan pilot programme by the People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA). China’s central bank digital currency is called the digital yuan (CBDC). China is one of the most developed nations

Conventional financial markets have long supported the buyback approach, in which companies repurchase their stock to boost stock value and bolster confidence. A modernised version of this tactic, known as the “buyback-and-burn” of cryptocurrencies, is causing waves as we enter the era of digital money. Crypto aficionados are quickly learning to love this combination of

According to Reuters, India’s markets regulator has suggested that multiple bodies should have control over cryptocurrency trading. According to documents cited by Reuters, the Securities and Exchange Board of India (SEBI) issued a recommendation to a “government panel” that was entrusted with creating policies that the finance ministry would take into account. It further stated

According to John O’Loghlen, managing director of Coinbase for Asia-Pacific, the exchange is creating a service tailored to the needs of self-managed pensions in Australia. This news was reported by Bloomberg. The connection between cryptocurrency and pension funds and retirees is not particularly new. Since March 2019, self-managed funds in Australia have been holding more

According to a court spokeswoman, Tornado Cash developer Alexey Pertsev, who was convicted guilty of money laundering on Tuesday, filed an appeal with the s-Hertogenbosch court of appeal. The first hearing might not happen for several months. The court was unable to determine if the appeal was granted. Pertsev, who received a 64-month prison sentence,

In a research note, broker Craig-Hallum upgraded the stock to buy, stating that Hut 8 (HUT), a bitcoin miner, has significant money to explore future projects due to its stack of over 9,100 coins. Approximately 75% of the company’s present market capitalization is attributed to its bitcoin holdings, which the analyst team lead by George Sutton stated “represents both a protective feature for investors and very opportunistic capital for the business to use for growth.” The analyst kept its $12 price target but upgraded its Hut 8 recommendation from hold to buy. Following earnings, the shares closed nearly 13% higher at $8.83 on Wednesday, helped by a significant increase in the price of bitcoin (BTC).Thursday’s early trading saw a 2% increase in shares. “Over the past 18 months, we have maintained a cautious view of HUT, considering its challenges with mining operations, contracts, strategy and management,” Sutton and team wrote, adding that with these issues being addressed the “potential for growth and stock appreciation far outweighs the risks.” “We are particularly optimistic about the company’s strategic

Customers of the cryptocurrency exchange Bybit are being cautioned once more by France’s securities regulator to “make arrangements for the eventuality that the platform [may] suddenly cease to provide services.” The exchange was providing its services unlawfully in France because it was not registered as a digital asset service provider (DASP), according to a notification released by the Autorité des Marchés Financiers (AMF) on Thursday. Since May 20, 2022, Bybit has been placed on the AMF’s blacklist due to its illegal operations. Reminding investors that the AMF “reserves the right, under the terms of the Monetary and Financial Code, to take legal action to block the website of this platform” and advising retail investors to “take all necessary measures to avoid being unable to access their assets,” the notice seems to allude to a potential enforcement action against the platform that may be imminent. The Securities and Futures Commission (SFC) of Hong Kong added Bybit to its list of dubious cryptocurrency exchanges in March and alerted the public that the exchange is unlicensed. The Asian Monetary Fund (AMF) has issued a similar warning on Bybit. In response to regulatory pressure, Bybit withdrew from Canada and the UK last year.

After being distributed in an airdrop and on many exchanges, Notcoin (NOT), a gaming token with over 35 million users, started trading at a fully diluted value (FDV) of $1 billion. According to CoinMarketCap, the coin generated $294 million in trading volume in its first hour of existence. By clicking on virtual coins and finishing in-game challenges, early players of the game—which can be accessible through the Telegram app—accumulated notcoin between January and April. A press statement states that in-game balances have been converted 1000:1. The maximum amount of Notcoin is 102 billion, of which 3% is reserved for Binance Launchpool users and a further 1.5% for OKX Jumpstart users. A staking mechanism has also been implemented by the project to encourage airdrop farmers to hold onto their tokens. Depending on the player’s level in the game, staking will be necessary to “earn extra rewards” and obtain access to more profitable staking pools. “It’s been an amazing few months,” said Sasha Plotvinov, founder of notcoin developers Open Builders. “We’re extremely proud that Notcoin’s viral growth has introduced millions to crypto and TON’s ecosystem.”

The newest development in the FTX bankruptcy case involves the transfer of a large claim against FTX EU, formerly known as K-DNA Financial Services, to FTXcreditor.While the transfer could expedite any further actions, smaller creditors run the danger of being negatively impacted. The claim is a component of the continuing Chapter 11 proceedings that were previously held against FTX EU, according to records filed in the U.S. Bankruptcy Court for the District of Delaware on May 15. The transfer was carried out in compliance with the Federal Rules of Bankruptcy Procedure, including Rule 3001(e)(2) regarding claims transfers. “Seller hereby waives any notice or hearing requirements imposed by Rule 3001 of the Federal Rules of Bankruptcy Procedure, and stipulates that an order may be entered recognizing this Evidence of Transfer of Claim as an unconditional assignment and Buyer as the valid owner of the claim.” Through the consolidation of all claims under one creditor, the move is a calculated attempt to streamline the administrative procedures involved in the bankruptcy case. Smaller creditors could be put at risk even though this could hasten the case’s resolution. Owing to the company’s sole point of entry for claims, smaller creditors may be overlooked in favor of larger creditors, who may receive worse terms.Michael Bottjer is the new single claim holder, FTXcreditor. The transferor’s name is still unknown at this point. “To protect the identity of

Over the last day, the cryptocurrency markets showed minimal movement, with the exception of a few meme currencies that saw enormous gains due to the prolonged impact of GameStop’s (GME) earlier this week’s share price increase on certain tokens. According to CoinGecko data, over the last day, Bitcoin (BTC) increased by just over 1%, ether (ETH) decreased by 0.5%, and the stocks of BNB Chain (BNB) and Solana (SOL) decreased by as much as 3%. With stablecoins excluded, the CoinDesk 20 wide index of the largest tokens was down 0.17%. The token with a dog theme, floki (FLOKI), surged 12% to become the most valuable among the top 50 by market value, while pepe (PEPE) surged 5% to reach a record high. Earlier in the week, meme tokens saw a surge as traders became more comfortable with taking risks following Keith Gill’s first X post since 2021. In 2021, Gill, a retail trader, helped cause a brief squeeze on GameStop’s shares through his online persona and investment methods.Gill did not specifically mention the company in the picture, but it was enough to send the stock skyrocketing, nearly tripling in value on Monday despite several trade halts. Still, the rally appeared to be waning. On Wednesday, pre-market trading saw a 13% decrease in the stocks. According to reports, some traders anticipated that his influence would lead to surges in meme stocks and tokens. Top meme coins and tokens with cat themes—which allude to Gill’s online persona as @TheRoaringKitty—have seen increases of up to 50% in recent days. On the Solana blockchain, a parody GameStop (GME) token saw a capitalization of $100 million earlier on Wednesday, rising by more than 700% over the previous week. Despite the gains for meme coins, some traders claim that the general outlook for bitcoin and other big tokens appears weak. “Neither the meme mania in equities, the overall positivity in stock indices, nor the weakening dollar seems to be helping cryptocurrencies right now,” said Alex Kuptsikevich, the FxPro senior market analyst, in an email.

According to many individuals with knowledge of the matter, the Senate is expected to approve a House plan on Thursday that would repeal the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin 121. . A Senate source who is aware of the circumstances told Said that the bill is in a “good position” to pass

Broker Canaccord Genuity stated in a report on Tuesday following the crypto financial services company’s first-quarter results that Galaxy Digital (GLXY) is evolving its business in a deliberate and methodical manner, and even though the regulatory environment is still difficult, the company’s opportunity set and competitive positioning remain compelling. The CEO of the Toronto-based company,

The Securities and Futures Commission website includes a notice stating that HTX’s company in Hong Kong has once again withdrew its application for a virtual asset trading licence in the nation. The news of Houbi Hong Kong’s licence withdrawal was initially reported by The South China Morning Post. By the time of publication, an email

A document reveals that in the first quarter of the year, the state of Wisconsin in the United States acquired 94,562 shares of BlackRock’s iShares Bitcoin Trust (IBIT).Over $100 million is the market value of the shares. Fresh inflation data that came in higher than anticipated during US morning hours caused Bitcoin to rise 1% on the news, and it is currently trading at $61,957, down 1.7% over the last 24 hours. The first state to reveal the purchase of bitcoin is Wisconsin, which submitted its quarterly 13F filing to the Securities and Exchange Commission (SEC) on Tuesday.Additionally, the investment board paid around $64 million for shares of Grayscale’s Bitcoin Trust (GBTC). “Normally you don’t get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we’ve seen these are no ordinary launches,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. “Good sign, expect more, as institutions tend to move in herds.”

The digital currency exchange Coins.ph said last week that the central bank of the Philippines has approved the company’s pilot programme for PHPC, a stablecoin backed by the Philippine Peso. According to the release, the programme will be supported by Coins.ph’s cash and currency equivalents kept in Philippine bank accounts and will fall within the

cryptocurrency exchange in India CoinDCX has developed the Okto wallet into an ecosystem, and on Tuesday, it will introduce a blockchain, a token, and a points system. Its co-founders, Neeraj Khandelwal and Sumit Gupta, stated in a recent interview that the goal is to provide customers throughout the world with a single-click mobile experience while

Coinbase, a cryptocurrency exchange, has returned to service following a three-hour outage that started at 4:15 AM UTC. The exchange’s status page states that it was back in operation at 07:42 UTC. An earlier notice reading “503 Service Temporarily Unavailable” was sent to website visitors. In a post on X, the exchange reported the outage

The concept of Handshake Domains may occur to you when you are coming up with ideas for the domain name of your website. You might be curious in the definition and usage of this term if you’re unfamiliar with it. Due to their registration on a blockchain network, handshake domains are distinct. Their exclusive availability

The CEO of the primary business in charge of creating the significant cryptocurrency trading platform, Antonio Juliano, is resigning from his position as the creator of the decentralized cryptocurrency exchange dYdX. Juliano announced on his blog that he would take over as chairman and president of dYdX Trading Inc. Its leader is replaced by Ivo Crnkovic-Rubsamen. “I will always be the leader of dYdX,” Juliano said in the post. But he also cautioned: “I have no idea what comes next for me.”

In order to help bitcoin (BTC) owners deploy their assets on-chain and earn income, the bitcoin lending protocol Zest has raised $3.5 million. Rich investor Tim Draper spearheaded the seed round, with support from Trust Machines, Flow Traders, Binance Labs, and other investors, Zest Protocol revealed via email on Monday. The Nakamoto update by Bitcoin layer 2 Stacks and bridge asset sBTC (pegged 1:1 to bitcoin) are utilized by Zest Protocol to fully natively construct a lending experience on the biggest blockchain network in the world. Users on Zest Protocol, which operates on the Stacks mainnet, will be able to participate in lending and other yield-generating activities after relying on sBTC to transmit bitcoin to fill their balance. “Bitcoin L2s like Stacks are set to play a key role in unlocking Bitcoin DeFi,” said Tycho Onnasch, founder of Zest Protocol. “Unlike on Ethereum, the creation of basic DeFi primitives such as liquidity pools isn’t possible on Bitcoin L1. The Stacks sBTC upgrade is set to be a watershed moment for Bitcoin

Blockchain expert ZachXBT claims that a $14.8 million hack affected the Bahrain-based cryptocurrency exchange Rain. 137.9 BTC and 1,881 ETH worth of wallets holding the stolen assets have been split up; these wallets have not been used since the hack on April 29. “It seems that on April 29, 2024, the cryptocurrency exchange Rain was

Liminal, a Singapore-based custody services provider, received regulatory permission in Abu Dhabi, marking a significant advancement in the company’s external development, representatives of Liminal said in a recent interview on Monday. The Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) granted the company’s First Answer Middle East subsidiary the Financial Services Permission (FSP)

According to a China News Service story on Weixin, six individuals were detained by Chinese police for utilising cryptocurrencies to facilitate an illicit currency conversion business that handled about 2.14 billion yuan ($296 million). According to the state-run news agency, the “underground bank” was discovered by Panshi City, Jilin’s Public Security Bureau. The operation exchanged

The conversation over religion and technology has heated up since the Pope recently made a statement about AI. Religious programming was one of the early staples of both the new media, radio and television, when the initial transmissions made their way into homes throughout the globe. Nowadays, religious practitioners from all over the world are

Detaining foreign business people, according to SBM Intelligence, might make it more difficult for the nation to draw in investors. Africa-focused risk consulting company SBM Intelligence has issued a warning, stating that Nigeria’s attempts to attract foreign investment may be hampered by claims of bribery made by Binance CEO Richard Teng against government officials. The

ChatGPT is anticipated to be included in Apple’s upcoming operating software update, iOS 18, if the parties successfully complete the transaction. According to those acquainted with the situation, tech giant Apple is allegedly nearing completion on contract negotiations with OpenAI to utilise ChatGPT functionalities on the iPhone. According to a May 11 Bloomberg story, if

Crypto traders are keeping a careful eye on three key indications for confirmation that the altcoin market is currently in the “disbelief stage,” which, if history is any guide, may soon go on to a “explosive rally.” In a post dated May 11, crypto analyst Mikybull Crypto informed their 66,600 X followers that the market