Following the approval of EOS tokens for trade on Japanese exchanges on Wednesday, the resurrection tale of the EOS Network, a blockchain that raised $4 billion in its initial coin offering (ICO) but had nothing to show for it in its early years, is quickly taking shape. The Japan Virtual and Crypto Asset Exchange Association

Patricia made it clear that it will function much like a “IOU” (I owe you) document, acting as a way for the exchange to acknowledge its debt to its consumers. Nigerian cryptocurrency exchange’s introduction of Patricia Token (PTK) Users responded to Patricia on social media by expressing distrust and some doubt on the reasons behind

Swiss-based cryptocurrency bank Seba said that the Hong Kong Securities and Futures Commission (SFC) had granted approval-in-principle (AIP) for the establishment of its regional subsidiary as part of an effort to increase its global reach. The permission is the first stage in getting Seba Hong Kong a complete licence to trade in traditional securities and

A group of creditors is opposing the provisional agreement reached between parent company Digital Currency Group (DCG) and collapsed lender Genesis Global Capital (GGC), who described the treatment of more than a billion dollars in outstanding loans in a filing on Tuesday as “wholly insufficient.”Following the fall of the cryptocurrency exchange FTX and the hedge fund Three Arrows Capital, Genesis’ lending division GGC declared bankruptcy in January. Months of negotiations over DCG’s contribution have caused the wind-up to be postponed. DCG, which is also the parent company of CoinDesk, agreed to a series of partial repayments to settle liabilities of $630 million in unsecured loans due in May 2023 and $1.1 billion due in 2032 as part of an in-principle agreement announced by Genesis on Tuesday. “DCG’s contribution to the estate in satisfaction of creditor claims is wholly insufficient to satisfy even the uncontested loan amounts due, let alone, the valuable estate claims assertable by creditors against DCG and its directors and officers, including Barry Silbert,” a group of Genesis lenders said in a filing to the Bankruptcy

Following Ripple’s successful appeal last month, Grayscale, the manager of the Grayscale Bitcoin Trust (GBTC), has won another significant victory for the cryptocurrency sector before the SEC, broker Bernstein reported in a research report on Tuesday.The SEC must reconsider its decision to deny Grayscale’s request to have the GBTC converted into an exchange-traded fund (ETF), according to a federal court’s ruling on Tuesday. According to analysts led by Gautam Chhugani, the decision “likely clears the path for a spot bitcoin ETF” and raises the possibility that the SEC may accept all of the pending applications at once.ETFs monitor the performance of an underlying asset and are exchanged on an exchange much like stocks.Because they enable market participants to participate in cryptocurrencies without having to own the underlying digital assets directly, they are becoming more and more popular.The court’s ruling prevents the conversion of the GBTC product into an ETF right away, but it “provides a fair basis for Grayscale to be treated in line with other Bitcoin ETF applicants,” according to the newspaper. The first evaluation is anticipated to be completed next week, and the final SEC review is anticipated to be completed in the early months of 2024, according to the memo.In a previous statement, Bernstein predicted that in two to three years, the spot bitcoin ETF market will be significant and represent 10% of the total value of bitcoin.

According to a Tuesday court document, federal prosecutors dispute former FTX CEO Sam Bankman-Fried’s allegations that his use of a special laptop and other court-ordered accommodations haven’t done much to assist him prepare his case while he’s imprisoned.The letter to Judge Lewis Kaplan comes days after Bankman-Fried’s attorneys asked the U.S. District Court for the Southern District of New York to give their client access to a cellblock and an internet-capable laptop five days a week in the weeks preceding his October trial at the federal courthouse in Manhattan, New York. However, the prosecution claims that Bankman-Fried’s technological limitations are only temporary. “inconveniences” that have not hindered his defense preparation and are necessary as a result of his alleged “witness tampering.” “The defendant’s unlimited access to these resources was curtailed solely as a consequence of his own criminal activities while on bail,” prosecutors said in the letter. The prosecutors also noted Bankman-Fried’s access to technological

 Tradeteq, a marketplace for private debt and physical assets based in the UK, announced on Tuesday that it had launched a tokenized U.S. Treasury offering on the layer 1 blockchain XDC Network.The U.S. Treasury Yield (USTY) tokens, available to professional investors on Tradeteq’s Yieldteq platform, are blockchain-based representations of shares in a U.S. Treasury bond exchange-traded fund (ETF).Securitize, a supplier of tokenization services, onboards purchasers, keeps track of share ownership, and controls dividend payments. The launch of the new product coincides with tokenization emerging as one of the most popular developments in the battered digital asset sector.According to a Bank of America report, the tokenization of real-world assets (RWAs), which involves creating blockchain-based tokens of conventional financial assets like government bonds or private equity, could change the financial system. Bernstein predicted that the market for RWAs could reach $5 trillion in the following five years. According to rwa.xyz, the demand for tokenized Treasury bonds increased by almost six times this year to $622 million.While yields in cryptocurrency lending have fallen due to significant deleveraging during the bear market, crypto companies and investment funds seek these products in order to benefit from rising government bond rates.In a tight race among blockchains to be the best place to trade tokenized assets, XDC has entered the fray.Although other networks are making progress with RWA acceptance, Stellar and Ethereum are the top markets for tokenized Treasuries.utilizing the Polygon (MATIC) network, JPMorgan carried out deals utilizing tokenized versions of the Singapore dollar and the Japanese yen, and Securitize released equity tokens of a real estate investment trust on the Avalanche (AVAX) blockchain.

Due to poor market activity, Indian cryptocurrency investment platform CoinSwitch reduced its customer care staff by more than a third.A firm spokeswoman informed CoinDesk that the 44 job losses, which happened roughly three weeks ago, represent slightly under 7% of all staff.Prior to the layoffs, the company employed about 640 people altogether after hiring about 60 workers since April, primarily in the compliance and product technology departments.There are still 82 people on the customer service team. CoinSwitch is not the only company that needs to adjust to a new climate.Rival CoinDCX reduced its workforce by around 12% earlier this month, firing 71 people as a bear crypto market and India’s tax laws combined to lower trading volumes and, consequently, revenue.India has placed high taxes on cryptocurrencies, including a disputed 1% tax deducted at source (TDS) on all transactions starting on February 1, 2022, as well as a 30% tax on cryptocurrency revenues. “As and when volumes grow and we open new roles, we will be happy to welcome back those impacted,” a company spokesperson said. According to a source, CoinSwitch has provided severance and other benefits for up to four months depending on the term of the fired employees.The employment reductions were first reported by the local Indian news outlet Moneycontrol earlier today.According to a source, CoinSwitch has provided severance and other benefits for up to four months depending on the term of the fired employees.

According to statistics recorded by the Velo statistics app, Dogecoin (DOGE) is down 10% so far this year, with the majority of the bearish pressure on the top meme cryptocurrency occurring during European hours.During European and American trading hours, DOGE’s cumulative year-to-date returns were -44.44% and -25%, respectively.The total return for the Asia-Pacific day was positive 25.6%, meanwhile. To put it another way, sellers have dominated during the European (8:00 a.m.–6:00 p.m. Brussels time) and American (8:00 a.m.–6:00 p.m. New York time) trading hours.The Asian hours, which are defined as 8:00 a.m. to 6:00 p.m. Seoul time, have seen buyers get the upper hand. The session-wise results of the self-described “Dogecoin Killer Shiba Inu” (SHIB) present a similar picture.Meanwhile, during American hours, bitcoin has constantly risen. These equal-length time frames were chosen by Velo after taking into account regional volume profiles and stock market hours.There is some overlap between the sessions.Memecoins have been around for a while and are actively traded on South Korean exchanges like Upbit and Bithumb, which explains why DOGE and SHIB performed well during the Asian trading session.The majority of trading volume during DOGE’s 10% increase in late July came from Upbit, which is known for speculating in trading pairs for crypto-Korean won. Due to its lack of social mobility options, exorbitant real estate costs, and competitive labor market, South Korea, according to Matrixport, dominates the market for smaller tokens.In addition, the gloomy performance of DOGE and SHIB during U.S. and European hours is consistent with the hazy regulatory future for alternative cryptocurrencies.In its action against Coinbase and Binance, which was filed in June, the U.S. Securities and Exchange Commission (SEC) refers to various altcoins as securities.Although DOGE and SHIB were not mentioned, tougher rules for cryptocurrencies may have an influence on memecoins.

The 2023 Google Cloud Customer of the Year Award for the Financial Services Industry has been won by OrBit Markets, a Singapore-based institutional liquidity provider in the world of digital asset options and structured derivatives. The honour is more than only decorative; it denotes the company’s ability to successfully negotiate the complex requirements of high-volume

The time limit has expired for Clockwork, an automation tooling startup in Solana. Nick Garfield, the project’s creator and a partner at Multicoin Capital, announced on Sunday that he and his group were “stepping away from active development of the protocol” and that the infrastructure supporting the project would be shut off on October 31. Payroll transfers and other routine transactions that smart contracts, the foundation for creating economies on blockchains, can possibly improve are the focus of Clockwork’s technology. “Ultimately the reason we are stepping away now is simple opportunity cost,” Garfield said in a post on X, formerly Twitter. “We admittedly see limited commercial upside in continuing to develop the protocol, and have a growing personal interest to explore new opportunities.” Even when the company stops supporting Clockwork, Garfield advised users to clone the project’s open source code and create their own variations.

According to wallet statistics from Arkham Intelligence, the investing and trading platform Robinhood (HOOD) currently contains more than $3 billion in bitcoin (BTC) in a single wallet.After cryptocurrency exchanges Bitfinex and Binance, which respectively hold tokens valued at $6.4 billion and $4.3 billion on single wallets, this places it as the third-largest bitcoin holder.The wallet had previously become well-known among market observers in the previous few months as the identity of its owners aroused discussions and worries about who the mysterious owner of such a big amount of bitcoin could be. As of Monday, Robinhood has not made any public remarks on these assets.The moves spurred theories about everything from the transfers of user holdings at cryptocurrency exchange Gemini to the holdings of financial powerhouse BlackRock, which applied for a Bitcoin ETF earlier this year.Over the course of three months, Robinhood transferred over 118,300 bitcoin from a number of other smaller wallets to the wallet, according to data.Representatives of Arkham acknowledged in a Telegram message  that Jump Trading, a cryptocurrency trading company, is the custodian of these tokens. These assets are all stored on the Bitcoin blockchain.Following the first transaction on March 8, enormous sums of bitcoin were exchanged up until July 14, according to BitInfoCharts.Although there aren’t many cryptocurrency trades on Robinhood’s platform, the holdings reveal the breadth of the company’s exposure to bitcoin. According to its most recent earnings report, Robinhood’s crypto trading revenue for the second quarter was barely $31 million, a decrease of 18% from the $38 million for the first quarter.The statistics represented 16% of the $193 million in trade revenue across all categories, which, as previously reported, fell by 7% sequentially.

HashKey Exchange, the first retail virtual asset exchange (crypto exchange) in the city with a licence, officially started operations on August 28, 2023. Leading banks, insurance companies, and officials from the Big 4 auditing firms were present at the official launch, which was held at the Maritime Museum Central. The site, which offers direct bank

Data illustrating the scope of illegal cryptocurrency activity in Southeast Asia have been released by Bitrace, a renowned blockchain analytics company. The revelations cast doubt on widely held media narratives and provide a more thorough understanding of the region’s crypto ecosystem. The anonymity, decentralisation, and borderlessness of cryptocurrencies have made them popular among Southeast Asian

The access of afflicted users to FTX’s claims page has been temporarily suspended, according to the bankrupt cryptocurrency exchange. This choice was made in response to a cybersecurity incident at Kroll, which is the company in charge of keeping track of FTX’s continuing bankruptcy proceedings as the designated claims and notification agent. The statement, which

The CEO of Binance, Changpeng Zhao, also known by his initials CZ, recently raised a troubling issue on his Twitter platform. New phishing assaults are reportedly a threat to users of renowned cryptocurrency exchanges FTX, BlockFi, and Genesis. It is thought that the Kroll data leak is directly responsible for this rise in harmful activity.

According to reports, in 2020, Kronos Research, a top-five worldwide cryptocurrency quantitative trading team, lost $1.4 million (about 42 million Taiwanese dollars). Two displeased engineers at the organisation were found to be the main culprits behind this significant loss. Unhappy about not getting their promised bonuses, these people maliciously changed the code that was used

The new crypto tax reporting guidelines recently proposed by US President Joe Biden have drawn criticism from a number of well-known crypto experts.The Internal Revenue Service (IRS) advised brokers implement new guidelines for selling and trading digital assets on August 25 in an effort to capture cryptocurrency users evading taxes.A new form would be used by brokers to simplify tax filing and prevent tax fraud.According to the U.S. Department of the Treasury, the proposed regulations would make reporting on digital assets comparable to reporting on other assets. However, a lot of people in the cryptocurrency ecosystem think that the strict regulations would drive the sector further away from the US.The CEO of Messari, Ryan Selkis, was one of those who reacted negatively to the news, claiming that if Biden wins reelection, the country’s cryptocurrency market will not grow. Similarly, Chris Perkins, president of cryptocurrency venture capital firm CoinFund, believes that since other nations have advanced past the U.S., these regulations would inevitably result in less innovation entering the nation.He thinks that instead of using harsh crackdowns, the crypto business needs clear, concise standards that allow for safe innovation. Others, meanwhile, continue to have doubts about how well the Democrats and Republicans would represent crypto interests in the US. “I’m not confident that either party would be good for crypto. Though it definitely feels worse now than last presidency,” one user stated, as another pointed out that the new rules raise privacy concerns. “US devotion to income tax means they can NEVER accept private transactions on public ledgers without tax

In response to the most recent cybersecurity incident at Kroll, the bankrupt cryptocurrency exchange FTX has temporarily blocked the accounts of impacted users’ access to its claims system. Following the latest hack, FTX made the announcement on X (previously Twitter) as a preventative measure to stop upcoming instances or further damage. Users were strongly cautioned against making changes to their claims or the agreed-upon timelines in light of the occurrence.According to FTX, all claim information submitted via the Kroll client claims site is safe and accurate.Kroll was the target of a hack that revealed non-sensitive information related to claimants interested in the bankruptcy case. Kroll is the appointed claims and noticing agent for FTX’s current bankruptcy proceedings.Kroll responded by assuring FTX that it was actively managing the matter and will continue to keep an eye on it.Following this guarantee, FTX provided proof by confirming that the compromise had no effect on the security of account passwords, internal systems, or financial resources. Kroll is explicitly advising anyone who will be affected to take safety precautions.FTX made it clear that Kroll was not in charge of handling FTX account passwords and that its internal systems were unaffected.But blockchain expert ZachXBT confirmed that phishing emails had begun reaching FTX clients, indicating that their personal information may have been hacked.

The chief technical officer of stablecoin issuer Tether, Paolo Ardoino, recently had to respond to online claims regarding pictures of enormous industrial containers, which forced him to dismiss inquiries about where Tether is mining Bitcoin. In a post on X (formerly Twitter) on August 26, Ardoino addressed the questions raised by the image he posted on August 24.Many people were confused by the image, which showed a canister with a modified Tether Energy logo. He explained that the image depicts a control room at one of Tether’s Bitcoin mining facilities that it is currently finishing up and will shortly start using.Responding to many users who had asked about the location, Ardoino was certain that he would not reveal it.He did state that the location of the site is somewhere in South America, but he withheld any other information for security reasons. “Where? In LATAM. We tend to not share exact locations to avoid personnel harassment, a valid concern given the amount of detractors obsessed with Tether,” he declared, admitting that it has led to many Tether skeptics questioning its legitimacy. “You can almost hear some of them screaming: ‘NOOOOOOOO if you don’t tell

As the company deals with recent legal issues, the payment industry heavyweights Visa and Mastercard cutting back their relationships with Binance isn’t shocking, but it is unlikely to affect the crypto exchange’s market dominance.The U.S. Securities and Exchange Commission (SEC) has filed many charges against Binance, the largest cryptocurrency exchange by trading volume, including claims that it deceived investors about the risks of the company and operated an unregistered business.In addition, the exchange is facing penalties from the U.S. Commodity Futures Trading Commission (CFTC) for what it claims a “willful evasion” of American law. The US Department of Justice is apparently considering filing a fraud charge against Binance and is also investigating into the exchange.According to Dave Weisberger, CEO and co-founder of CoinRoutes, the decision by well-known corporations like Visa and Mastercard is not surprising given all the legal issues Binance is currently experiencing. “It’s unsurprising that payment processors want to distance themselves from that,” he said. According to reports, Visa stopped issuing new co-branded cards in Europe with Binance.Without giving any other information behind the decision, a Mastercard spokeswoman told CoinDesk that the company’s ties with Binance have come to an end.“We had four pilot programs in the market with them – Argentina, Brazil, Colombia and Bahrain. This decision applies to each of these Binance programs. There is no impact on any other crypto card program,” the spokesperson said. The Binance Card will no longer be accessible to users in Latin America and the Middle East, according to a statement made by Binance on the social networking site X (formerly known as Twitter).Given the crypto exchange’s broad global reach, the move is unlikely to reduce its market share. “It’s

Following the reported theft of about 16 trillion PEPE tokens, Jeremy “Pauly” Cahen, a former Pepecoin booster turned crypto influencer, has accused the Pepecoin crew of insider trading.Pauly is currently disclosing the identity of team members and their financial activity. On-chain experts also highlight major insider Pepecoin transactions. Pauly revealed that the Pepecoin team has about $16–17 million in PEPE tokens spread across nine wallets in an update on August 26.Unexpectedly, the insiders decided not to sell their stakes.Instead, they created a sizeable short position by strategically offloading PEPE from a wallet on a centralized exchange (CEX). “I’ll likely be working with multiple branches of law enforcement to ensure that @degenharambe & the rest of his partners on the @pepecoineth team get brought to justice as soon as possible. Their greed & crimes have caused undue harm to many.”he said. Additionally, he outlined the transaction activity of various members of the Pepecoin team and disclosed personal information about them.Pauly claims that the Pepecoin team is taking advantage of the community and that their claims about multisig wallets and PEPE holdings are completely untrue. Yazan, an on-chain analyst, claims that insider selling of PEPE holdings has started, with 400 billion PEPE or more already sold, coinciding with Pauly’s exposure of Pepecoin team members.Yazan has responded by urging cryptocurrency exchanges like Binance and OKX to put safeguards in place to stop insider transactions. Due to selloffs carried out by the team, Pepecoin’s price has taken a bearish turn and fallen by 15%.The PEPE price witnessed a fall despite a temporary 10% spike, which added to the already pervasive bad feeling in the neighborhood.At the time of writing, CoinMarketCap reports that the price of PEPE is $0.00000090, a 7% drop from the previous day.

According to John Deaton, if Bill Hinman and Jay Clayton had testified in the SEC vs. Ripple Labs case, XRP would have been classified as a non-security from the start. According to pro-XRP lawyer John Deaton, the Securities and Exchange Commission (SEC) erred in accusing Ripple CEO Brad Garlinghouse of aiding and abetting criminal activity.