Small and medium-sized enterprises have been urged by cryptocurrency exchange Binance to counteract the trend of high fully diluted valuations (FDV) and low float in the industry. Small and medium-sized projects were invited by Binance to apply for its listing initiatives on May 20.According to the exchange, the decision to assist small and medium-sized enterprises that have viable business plans would improve the cryptocurrency ecosystem. It stated. “We hope to enhance the development of the blockchain ecosystem through our support of small and medium-sized projects with strong fundamentals, an organic community base, a sustainable business model, and a dedicated team acting as responsible industry participants.” This appears to be a reaction to a pattern where projects are being launched with large market capitalizations but with a large number of locked tokens. On May 17, Binance Research brought attention to the growing trend of token projects launching with low circulating supplies. A significant amount of the token supply is set aside by these projects for upcoming releases. According to the report, these tokens experience rapid price appreciation under bullish market conditions. This

The Institute of Electrical and Electronics Engineers (IEEE), the largest technical professional organization in the world, has awarded a research article that was published ten years ago and is considered a “blueprint” for the first practical application of zero-knowledge proofs, or ZK-proofs. The “genesis paper” titled “Zerocash: Decentralized Anonymous Payments from Bitcoin” is said to have paved the way for ZK-proofs in the cryptocurrency space and has now won the IEEE Symposium on Security and Privacy’s “Test of Time” award. This information was shared with Cointelegraph. “The award acknowledges the paper’s broad and lasting impact on both research and practice in computer security and privacy,” StarkWare wrote in a statement. The paper, with 2,400 academic citations, did not transform finance but paved the way for the proliferation of projects using ZK-proofs, the firm added. Additionally, it presented the first application of cryptography in a practical way to improve privacy in cryptocurrencies.Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza, and Eli Ben-Sasson are the publication’s authors who get the award.StarkWare, a blockchain scaling company, was founded by Ben-Sasson. “The award reminds us that,

Following it’s part of their partnership with Kaamel Technology, XLink expedites previously announced security updates while looking into the root cause of the attack. On May 20, Bitcoin bridge XLink made the announcement that, as part of its first significant investigation into a recent security issue, it is collaborating with Kaamel Technology. In tandem to

A veteran of traditional finance (TradFi) has taken over as CEO of Grayscale, a digital asset investing firm. Sonnenshein left the company after ten years, a few months after the company’s flagship Bitcoin Trust became an exchange-traded fund (ETF). On August 15, Grayscale said on Monday, Peter Mintzberg, head of strategy for asset and wealth

Judge James Mellor said in his written ruling on Monday that Craig Wright lied “extensively and repeatedly” in both his written and oral testimony in the Crypto Open Patent Alliance lawsuit about his allegation that he is Satoshi Nakamoto. In March, Mellor came to the conclusion that Wright was not Nakamoto, the anonymous creator of

Developer of the coin-mixing system Tornado Cash, Alexey Pertsev, was found guilty based on a terrifying interpretation of criminal culpability that could have wider implications for the cryptocurrency industry. Given that Pertsev was found guilty by the Dutch court, he will now serve a five-year, four-month term for using Tornado Cash to launder money. This

With its price of BTC ticking down to $67,054, Bitcoin has solidified its position just above its critical support level of $65,000, and cryptocurrency traders think its structure is holding firm. Some people are really skeptical the rumors of an impending significant correction. On May 18, anonymous cryptocurrency trader Yoddha informed his 49,000 X followers,

Following the incident that happened after 2,000 bitcoin mining equipment were seized as part of a recent campaign intended to combat corruption. Owing to the high electricity requirements of cryptocurrency mining, the Venezuelan government has joined the list of nations that disapprove of it. A local news source reports that intentions to disconnect bitcoin mining

The XRP Ledger (XRPL) recorded 251.39 million on-chain transactions during the first quarter of 2024, an increase of approximately 108% compared to the last quarter of 2023. Ripple’s recent XRP market report shows that the XRPL saw an increase in on-chain transaction activity of 108% during the first quarter of 2024, along with a 45%

Many cryptocurrency analysts are viewing Phantom Wallet’s rise to the third spot in the Apple App Store’s utility category as a bullish indication for Solana. The utility category on the Apple App Store currently contains the cryptocurrency wallet Phantom Wallet in third place, just below Google and Google Chrome Apps. The increase might be an

Genesis Global, a bankrupt cryptocurrency lender, has obtained court permission to reimburse its creditors with almost $3 billion in cash and cryptocurrency. Due to this ruling, Digital Currency Group (DCG), the parent firm, will not be able to emerge from bankruptcy. On Friday, May 17, Judge Sean Lane gave his approval to Genesis’ Chapter 11

According to the Australian Securities and Exchange Commission, John Louis Anthony Bigatton advertised the cryptocurrency loan platform in two social media posts and four seminars. An Australian man entered a guilty plea to his role in marketing cryptocurrency lending services for BitConnect, the now-defunct cryptocurrency exchange. BitConnect was a notorious organisation that operated as a

Millions of dollars were transferred by the con artists to these American bank accounts, which were subsequently used to launder the money that was obtained illegally. Two people were detained by US authorities on suspicion of organising a money laundering conspiracy that involves transferring over $73 million through US financial institutions and finally turning the

According to the recent resignations, OpenAI has decided to disband the “Superalignment” team and incorporate its operations into other internal research initiatives. Every member of the OpenAI team that examined the existential risks posed by AI has apparently left or been taken over by other independent research teams. The other co-lead of OpenAI’s super alignment

The cryptocurrency industry’s groups and leading companies are pushing House leaders to back the initiative as the U.S. House of Representatives prepares to hold a vote that may bring the industry the closest to ever gaining regulation in the country. A coalition of companies and organizations focused on digital assets, including Coinbase, Kraken, Andreessen Horowitz, the Digital Currency Group, and roughly fifty more, wrote a letter to Speaker of the House Mike Johnson (R-La.) and Minority Leader Hakeem Jeffries (D-N.Y.) through the Crypto Council for Innovation, urging them to pass the bill. It is anticipated that there will be a midweek vote on the Financial Innovation and Technology for the 21st Century Act (FIT21) during floor time next week. The measure clearly defines the responsibilities of the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), establishing the CFTC as a premier regulator of digital assets. after addition to establishing further barriers against risky behavior, it would create consumer protections, such as guidelines for the custody of customers’ assets and how they are treated after bankruptcy. “By passing this legislation, we can accelerate the growth of blockchain technology and digital assets, fostering financial inclusion and protecting national security,” according to the letter. “It is crucial for the U.S. to maintain its leadership in financial innovation.” The resolution to reverse the SEC’s crypto accounting regulation was easily passed by the House and Senate, and the crypto sector in Washington is celebrating this victory, even though President Joe Biden has threatened to veto the attempt. The decision to remove the SEC’s Staff Accounting Bulletin 121 (SAB 121) was a victory for the industry, garnering support from the Democratic Party, which has been less forthcoming than the Republican Party in endorsing cryptocurrencies. Majority Leader Chuck Schumer (D-N.Y.) and over one in five Senate Democrats sided with the industry during that accounting battle, while over one in ten House Democrats did the same. However, the comprehensive measure that is being considered for a House vote is substantially larger in scope, and prominent Senate Democrats have not yet shown ready to match the House’s effort. The Senate’s current stance on cryptocurrencies is limited to suggesting that it would be open to bundling a bill governing stablecoin issuers with other financial legislation. The Democratic support for FIT21 in the House might play a significant role in determining whether the Senate takes action on the bill, according to Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services Committee where it was introduced. Rep. Maxine Waters (D-Calif.), their senior member, opposed the legislation, but it passed his committee with the support of a few Democrats.

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.