87244
📱 #1 Source For Education on Crypto, Bitcoin, Trading & general News 🖥 NFTs & Metaverse -> @NFTs_DeFi 📩 DM For Enquiries/Business @SantosAdmin
📣 BlockFi’s Customer Repayment Plan Now Approved By Court
In a significant development for customers of the beleaguered cryptocurrency lending platform BlockFi, the United States Bankruptcy Court in New Jersey has granted approval for its liquidation plan. The court’s decision, made during a hearing on September 26, marks a significant milestone in the company’s winding-down process, potentially allowing customers to recoup a portion of their investments by year-end. The company’s third amended Chapter 11 plan received the green light from Bankruptcy Judge Michael A. Kaplan. The expected recovery for unsecured BlockFi creditors ranges from approximately 35% to 63% of their owed amounts, as detailed in an August court filing. The final payout depends on the outcome of its legal battles with FTX and other bankrupt crypto firms. BlockFi has stated that the resolution of disputes with FTX and Three Arrows Capital could significantly impact creditor recoveries. BlockFi initially halted customer withdrawals on November 10, just prior to FTX’s bankruptcy. While initially aiming to restructure the business under Chapter 11, BlockFi determined earlier this year that liquidation offered the best avenue for repaying its customers.
🔍 More Crypto News
📣 CoinEx Deposit Withdrawal Resumed For 346 Cryptocurrencies After The Hack
CoinEx, a prominent cryptocurrency exchange, has recently announced the reactivation of deposit and withdrawal services for 346 cryptocurrencies. The announcement, made on X (formerly Twitter), sheds light on the challenges faced by their team in building validation points and synchronizing across various public chains. The complexity of configuring these validation points on diverse public chains necessitates time to fully reinstate deposit and withdrawal services. It’s crucial to note that only the cryptocurrencies specified in the recent announcement and the Fees Standard page are available for deposit and withdrawal. Any claims suggesting otherwise are false and potentially scam-related. This decision follows a significant setback for CoinEx, as the exchange fell victim to a major hack resulting in the loss of over $70 million in digital assets. The attack has been linked to North Korea’s Lazarus Group, known for a series of cyberattacks aimed at siphoning off digital assets. In the current year alone, it is estimated that North Korean hackers have stolen more than $200 million worth of cryptocurrency, highlighting the persistent threat posed by such groups in the cryptocurrency landscape.
🔍 More Crypto News
🇹🇼Taiwan Crypto Association Will Be Established To Promote The Industry
Taiwan‘s cryptocurrency landscape is undergoing significant developments as nine leading cryptocurrency companies have announced plans to establish a Taiwan crypto association. This move is anticipated to enhance the regulatory framework for the burgeoning cryptocurrency sector in Taiwan. In a joint statement, these companies outlined their intention to submit formal applications for the creation of the Taiwan VASP Association in mid-October. The firms have also formed a dedicated working group to expedite this process. Once the Taiwan VASP Association is officially established, its primary objective will be to devise self-regulatory standards in alignment with the guiding principles set forth by the Financial Supervisory Commission (FSC). These self-imposed rules are intended to promote greater discipline within the cryptocurrency industry. Notably, the FSC is expected to release its “Guiding Principles for the Management of Virtual Asset Platforms and Trading Businesses” by the end of the month. The establishment of an industry association is seen as a proactive measure by cryptocurrency firms to align their self-regulatory guidelines with the forthcoming regulatory framework, fostering a more mature and accountable cryptocurrency industry in Taiwan.
🔍 More Crypto News
🪙 Tether CTO Lashes out at Rumors of Singapore Terms of Service Changes
Tether has addressed confusion over whether it has changed its terms of service (ToS) in Singapore. The company was responding to the CEO of Cake who claimed Tether was restricting its onboarding standards. The controversy started with Dr. Julian Hosp, the CEO of Cake DeFi, sharing a screenshot of an email from Tether. The email mentioned that the company had changed its onboarding standards and would not allow corporates controlled by another entity, directors, or shareholders residing in Singapore to use its services. Indeed, the web archives from the official website of Tether show that Singapore has already been a prohibited jurisdiction since 2020. And the development is not a recent change to Tether’s terms of service. Bake is a decentralized finance (DeFi) platform that promises stable yields on crypto investments. Dr. Hosp further wrote on X that they could not redeem USDT into USD due to the change from Tether’s side. The confusion led the community to fear the developments were due to a massive money laundering bust in Singapore. On Sept. 21, Reuters reported that Singapore police seized crypto worth S$38 million (approx. $27.8 million) during anti-money laundering raids. Also, Singapore’s new President, Tharman Shanmugaratnam, is known for his anti-crypto stance. Hence, it stoked fearful sentiment further.
🔍 More Crypto News
🔵 Arbitrum DAO treasury boosted by $57 million in unclaimed airdrop tokens
The Arbitrum Foundation announced the remaining 69 million ($57 million) unclaimed airdrop tokens have been swept into the Arbitrum DAO treasury. The move follows a near-unanimous community vote to redirect the unclaimed tokens to the treasury immediately instead of a time-locked smart contract — where funds are locked and can only be accessed or moved after a certain period or under specific conditions — as part of the Arbitrum Improvement Proposal AIP-7. “The 69,448,385 unclaimed ARB remaining in the token claim contract has officially been moved to the Arbitrum DAO treasury as outlined in AIP-7,” the Arbitrum Foundation posted on X (formerly Twitter) late Sunday. “You cannot claim those tokens anywhere. Please be safe out there.” The original Arbitrum airdrop token claim went live in March, seeing 1.16 billion tokens made available as a reward for early users of the Ethereum Layer 2 network and giving them governance powers on the DAO that controls the Arbitrum One and Nova networks. The airdrop represented 11.6% of Arbitrum’s total 10 billion supply. Eligible recipients could claim their tokens until Ethereum block 18208000 on Sept. 24.
🔍 More Crypto News
💰 Skybridge Founder: Every Wall Street Firm Will Sell Bitcoin ETF to Clients — 'Next 10 to 20 Years Are Remarkably Bullish'
Skybridge Capital founder Anthony Scaramucci has explained why he is still bullish on bitcoin. Emphasizing that every Wall Street firm is going to have a bitcoin exchange-traded fund (ETF) in their arsenal that they will sell to their clients, he predicted: “The next 10 to 20 years are remarkably bullish.” He added: “If you got your bitcoin, I wouldn’t sell your bitcoin, you made it through winter.”He believes that young people “will be mainstreaming bitcoin” in the same way his generation “mainstreamed the internet.” The Skybridge Capital founder cautioned that headwinds are still in the macro environment, including higher interest rates, an enforcement-centric Securities and Exchange Commission (SEC) chairman, and negative sentiment around crypto adoption. Nonetheless, he remains optimistic about BTC, stating: “As wealth is created in society, a portion of that wealth is going to get chipped off for digital assets, most likely bitcoin.” He also reiterated his long-standing view that “Bitcoin is better than gold.” Scaramucci further expects the approval of bitcoin exchange-trading funds (ETFs) to be a game changer. He anticipates massive and widespread adoption of BTC once bitcoin ETFs become commonplace. The Skybridge Capital founder opined:
🔍 More Crypto News
🪙 FTX’s former external legal team disputes involvement in fraud allegations
In a recent court filing, a United States law firm that had previously offered services to FTX challenged allegations of assisting Sam Bankman-Fried in his alleged unlawful activities. A law firm that previously provided services to the now-defunct cryptocurrency exchange FTX has refuted a class-action lawsuit brought against it, claiming that it assisted in the exchange’s alleged fraudulent activities. According to a Sept. 21 court filing, United States-based law firm Fenwick & West denies all accusations of misconduct related to the provision of legal services. The plaintiffs contend that while Fenwick provided regular legal services within the bounds of the law, Sam Bankman-Fried allegedly misused the advice to advance his fraudulent activities. The plaintiffs allege that Fenwick can be held liable because it purportedly “provided services to the FTX Group entities that went well beyond those a law firm should and usually does provide,” the filing states. Additionally, the filing reiterated that Fenwick assisted in establishing corporations used by Bankman-Fried in his fraud and advised FTX on regulatory compliance in the evolving crypto landscape. However, Fenwick argued it should not bear liability as it was not the sole law firm representing FTX.
🔍 More Crypto News
💸 CoinShares launches hedge fund division in US expansion
European crypto asset manager CoinShares International Ltd has launched a new hedge fund division, CoinShares Hedge Fund Solutions, as the company expands into the U.S. market. “CoinShares Capital LLC, a wholly-owned subsidiary of CoinShares and a broker-dealer registered with the Financial Industry Regulatory Authority (FINRA), will be conducting marketing activities to qualified investors in the United States in support of CoinShares Hedge Fund Solutions’ strategies and products,” the statement added. CoinShares appointed traditional asset management veteran Lewis Fellas to head the new division. “CoinShares inspired my move into crypto asset management in 2016, so being able to lead the new division within the firm and further pioneer the space is an honor,” Fellas said. “The design of our strategies reflects the team’s deep and practical knowledge of digital assets and showcases the firm’s ability to develop new products that meet the demands of institutional investors.” “The long-awaited return of interest rate-driven volatility is a great opportunity that we plan to capture with our novel fund products,” Fellas added. “Each product that will be offered is designed to mitigate counterparty risk whilst providing investors with clearly defined asset class and strategy exposures.”
🔍 More Crypto News
🪙 Block.one's Settlement Offered a 'Tiny Fraction' of the $4.1 Billion Raised — EOS Network Foundation CEO
According to Yves La Rose, the founder and CEO of the EOS Network Foundation (ENF), the blockchain software company Block.one’s failure to financially back the EOS ecosystem after the 2018 initial coin offering (ICO) is one of the many reasons why the community felt compelled to take over. However, in written answers sent to Bitcoin.com News, La Rose revealed that the EOS community had to build everything from scratch since it didn’t “own any of the existing intellectual property.” When asked about Block.one’s settlement proposal and why she urged the community to reject this, La Rose said the offer represented just “a tiny fraction of the $4.1 billion that Block.one raised from the community in its ICO sale.” She also argued that the proposed settlement fell well short of the $1 billion that the blockchain software company promised but failed to inject into the EOS Network and community. However, despite this, La Rose suggested in her answers sent via Telegram that the crypto asset is on a path to recovery. She pointed to the Japanese Virtual and Crypto Asset Exchange Association’s recent decision to give the crypto asset whitelist approval.
🔍 More Crypto News
🇭🇰 Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud
The cryptocurrency trading platform Hong Kong’s JPEX is under increasing scrutiny as reports suggest a rising number of victims falling prey to suspected fraud cases, according to reports from aastocks and other media. Amidst the controversy, Lin Zuo, released on bail earlier, announced an upcoming emergency press conference to address the latest developments. Meanwhile, Hong Kong artist Zhuang Simin, previously suspected of fleeing to Singapore, returned to Hong Kong for questioning by the Commercial Crimes Bureau. JPEX had canceled the registration of its subsidiary, “JP-EX CRYPTO ASSET PLATFORM UAB,” in Lithuania on July 14 of this year. Last year, JPEX publicly announced its acquisition of Lithuanian cryptocurrency exchanges and wallet operations. The removal of the “Professor Registration Permit” notice from the website has raised further questions about the platform’s operations. Expressing grave concern, Chief Executive Mr. Lee Ka-chiu reiterated the importance of investing in licensed and regulated virtual asset platforms during a recent speech. He emphasized the urgent need for an effective regulatory framework and transparent information dissemination. Investor education, he stressed, should also take priority.
🔍 More Crypto News
🇬🇧 Bybit To Suspend UK Services, Urges Customers To Act Before January 2024
Cryptocurrency exchange Bybit has made a significant announcement regarding its services in the United Kingdom. Further changes will follow, with 16:00 on October 8, 2023, marking the point at which UK customers will no longer be able to initiate new deposits, create fresh contracts, or add to existing positions across all of Bybit‘s products and services. However, a vital point of note is that customers will retain the ability to reduce and close their positions while still having access to withdraw funds from the platform. Starting from 16:00 on October 1, 2023, Beijing time, Bybit will cease accepting new user account applications from confirmed British residents and nationals, referred to as “British customers.” This marks a significant change in Bybit’s operations within the UK market. To avoid any potential issues, UK clients affected by these measures are strongly advised to take proactive measures to manage and reduce their positions before 16:00 on January 8, 2024. After this specific date and time, any open positions on Bybit will be automatically liquidated, and the liquidated funds will be made available for withdrawal. UK comes amid a changing regulatory landscape for cryptocurrency exchanges globally.
🔍 More Crypto News
💰 Polygon Labs proposes facilitating Celo's migration to Ethereum Layer 2 with CDK
Polygon Labs has proposed that the Celo blockchain community use Polygon's Chain Development Kit (CDK) to facilitate a planned Layer 2 transition on Ethereum. The proposal comes after Celo’s core development team, cLabs, unveiled a separate proposed plan to transform its Layer 1 into an Ethereum-based Layer 2 using OP Labs’ software package called OP Stack. Polygon Labs proposes that the Celo Ecosystem choose to deploy an L2 using the Polygon CDK. Polygon's CDK is an open-source software development kit designed by Polygon Labs. Layer 2s created with CDK are based on zero-knowledge rollup technology and inherit Ethereum's full security via ZK proofs. The software kit has previously received interest from several blockchain ventures, including Canto, Astar, Immutable, IDEX, and Palm Network — all of which are collaborating with Polygon Labs for Ethereum Layer 2 migration. In response to Nailwal’s proposal, Rene Reinsberg, the co-founder of Celo, said that cLabs would discuss the proposal with the broader community before reaching a governance decision.
🔍 More Crypto News
🪙 Tether makes strategic investment in Northern Data Group
Tether, the firm behind the USDT stablecoin, has made a strategic investment in Northern Data Group, which provides data center and cloud environment services based in Germany. Northern Data Group provides not only blockchain but AI computing services. Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives. The investment was for an undisclosed amount. Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives. "We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers," Tether Chief Technology Officer Paolo Ardoino said. "This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves." Tether maintains 68% of the total stablecoin supply at 90.62 billion via its USDT token, according to The Block's Data Dashboard. Tether did not immediately respond to a request for comment from The Block.
🔍 More Crypto News
🟠 Binance Stops Supporting 15 BUSD-related Spot Trading Pairs
In a bid to enhance trading market quality and protect users, cryptocurrency exchange Binance has initiated a process of phasing out trading pairs involving Binance USD (BUSD) due to concerns over liquidity and efficiency. This decision comes as part of their routine review of listed spot trading pairs, which may result in the delisting of pairs with low liquidity and trading volumes. In a recent announcement, Binance disclosed the removal of several spot trading pairs on September 22, 2023. Furthermore, the exchange has urged users to convert their BUSD holdings to other stablecoins before February 2024. This move follows regulatory pressures on Paxos, the issuer of BUSD, which compelled Binance to cease its support for the stablecoin. This decision aligns with its recent trend of gradually discontinuing BUSD trading pairs, spanning spot, margin, and futures markets. Additionally, newly listed cryptocurrencies no longer have trading pairs with BUSD on the platform. The removal of BUSD from spot trading pairs is part of the exchange’s broader strategy to implement changes aligned with its exchange policies. BUSD has also been phased out of various Binance products, including Liquidity Pools, Gift Cards, Lending, and leveraged transactions.
🔍 More Crypto News
🇺🇸 SEC official says more crypto exchanges could face charges: report
There could be more enforcement actions headed toward cryptocurrency exchanges and decentralized finance projects, according to David Hirsch, head of the Securities and Exchange Commission's Crypto Assets and Cyber Unit. Hirsch said the agency could bring new charges against crypto brokers, dealers, exchanges, clearing agencies and others who don’t make proper disclosures or register with the agency, according to a report from CoinDesk. Hirsch said the SEC was aware of and investigating firms involved in similar activity to those that prompted agency suits against Coinbase and Binance a few months ago. The SEC has forged ahead in bringing high profile cases against crypto exchange Binance and then Coinbase a day later back in June. It's also been involved in a lengthy dispute with Ripple Labs. Some companies including Grayscale Investments and Ripple have fought back, with three judges in the U.S. Court of Appeals for the D.C. Circuit ruling in August that the SEC has to re-review Grayscale's bid for a spot bitcoin ETF after the asset management firm sued the agency last year following its rejection of the conversion of its flagship GBTC fund.
🔍 More Crypto News
🇺🇸 SEC Chair Gary Gensler Is Firm With His Stance On The Crypto Industry Is A Scam
In preparation for his appearance before the U.S. House of Representatives Committee on Financial Services on September 27, 2023, Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), is poised to uphold the same stance he recently presented to the Senate Committee on Banking, Housing, and Urban Affairs. The forthcoming hearing, titled ‘Oversight of the Securities and Exchange Commission,’ will be live-streamed on September 27, 2023, at 10 AM Eastern Standard Time. SEC Chair Gary Gensler has been vocal about the prevalence of fraud, abuse, and misconduct within the crypto industry, and he continues to stress this point in his latest testimony submitted to the House Committee on Financial Services. He also referenced the SEC’s rulemaking efforts in his testimony, specifically highlighting a release from April that classified crypto platforms, including DeFi platforms, as part of the exchange definition. The Chair of the House Financial Services Committee, Patrick McHenry, is expected to scrutinize SEC Chair Gary Gensler’s approach to crypto regulation during the hearing. McHenry previously accused Gensler of failing to provide clear guidelines on how firms can adhere to federal securities laws.
🔍 More Crypto News
🟠 Binance Belgium Registration Now Active Again After Suspension
Cryptocurrency exchange giant Binance has announced the reopening of registration and access for users in Belgium, following a prior suspension of services ordered by the Financial Services and Markets Authority (FSMA) in June. This move came after Binance established a Polish entity in late August, designed to cater to clients in Belgium, in compliance with regulatory requirements. The new entity enables Binance to fulfill its regulatory obligations and continue offering services to Belgian users. Binance, founded by Changpeng Zhao in 2017, is renowned as the world’s largest cryptocurrency exchange. However, its rapid growth has brought it under the scrutiny of regulators worldwide, particularly concerning concerns related to money laundering. Additionally, Binance has voiced apprehensions about the potential delisting of stablecoins in Europe, in response to the upcoming implementation of the Markets in Crypto-Assets (MiCA) regulation by the European Union. In a statement, Changpeng Zhao emphasized Binance’s commitment to regulatory compliance and its active collaboration with stablecoin issuers to ensure alignment with MiCA requirements.Binance navigates evolving regulations and continues its expansion, it remains a central player in the cryptocurrency industry.
🔍 More Crypto News
🇬🇧 UK’s Chase Bank Crypto Ban Will Be Implemented From October 16: Report
Chase Bank Crypto Ban of UK will be implemented from Oct 16, citing fraud concerns. Customers advised to seek alternative options, as per CoinDesk. Chase Bank, the country’s second-largest bank, is planning to prohibit cryptocurrency-related payments for its UK customers starting October 16. This decision is part of Chase’s efforts to combat fraudulent activities in the crypto space, where scammers have increasingly utilized crypto assets to steal large amounts of money from individuals. As reported by CoinDesk, Chase Bank has informed its customers about this decision via email, stating that any payment associated with crypto assets will be declined. The email also advised customers that they can explore alternative banks or providers if they wish to invest in cryptocurrencies. While the event of Chase Bank crypto banning aims to enhance security and safeguard customers from potential crypto-related fraud, it also highlights a broader issue in the UK. Many UK credit institutions have a track record of blocking or restricting customer access to cryptocurrencies. The Financial Conduct Authority (FCA), the local financial watchdog, has recently facilitated discussions between banks and crypto firms due to banks’ hesitancy in offering services to the crypto industry.
🔍 More Crypto News
🪙 Vitalik Buterin has transferred over 1.8k ETH to exchanges this year, still holds over 250k ETH
On-chain data shows that Ethereum co-founder Vitalik Buterin transferred 400 ETH, approximately $630,000, to Coinbase earlier today. According to the Arkham Intelligence dashboard, the transfer continues a recent trend of transactions within the last seven days that has seen Buterin transfer more than 1,000 ETH, including today’s transaction, to exchanges, unknown addresses, and a Gnosis Safe Proxy wallet. The motive for these transactions remains undisclosed. Typically, transfers to exchanges are seen as potential sell-offs. Given Ethereum’s recent price challenges, Buterin’s transaction might intensify selling pressure on the cryptocurrency. Meanwhile, Buterin has sold part of his ETH’s holding at different periods this year. In August, Buterin transferred 600 Ether to Coinbase. Before then, he had sent 200 ETH to Kraken in March. Around the same period, Buterin dumped several unsolicited altcoins (sh*tcoins) for 439.25 ETH. Per Arkham’s intelligence data, Buterin still holds a substantial amount of ETH, with nearly 250,000 Ether units worth $390 million in his address.
🔍 More Crypto News
💰 MicroStrategy buys 5,445 additional bitcoins for $147 million
Michael Saylor's MicroStrategy purchased an additional 5,445 bitcoins for $147.3 million — at an average price of $27,053 per bitcoin — between Aug. 1 and Sept. 24, according to a Securities and Exchange Commission filing submitted today. The company acquired the bitcoins at a total cost of around $4.68 billion, with an average purchase price of about $29,582 per bitcoin, inclusive of fees and expenses. The company holds a total of around 158,245 bitcoins, worth roughly $4.1 billion at current prices. This latest purchase brings the company's bitcoin holdings up to around 158,245 bitcoins, worth approximately $4.1 billion at the current price of around $26,000. The company acquired the bitcoins at a total cost of around $4.68 billion, with an average purchase price of about $29,582 per bitcoin, inclusive of fees and expenses. The move comes after MicroStrategy acquired an additional 12,800 bitcoins for approximately $361 million over two purchases in June and August.
🔍 More Crypto News
💰 Arkham Identifies Coinbase's $25B in BTC; Rivals Nakamoto's Legacy Coins
On Friday, Arkham Intelligence, a crypto analytics and data tracking firm, revealed that its platform now prominently displays Coinbase’s bitcoin (BTC) reserves. Taking to social media platform X, the firm announced, “Arkham has now identified $25B of Coinbase bitcoin reserves (1M [bitcoin]) on chain.” Data from Friday shows Coinbase’s coffers holding a formidable 948,383 BTC, which, at the moment, boasts a value of $25.16 billion. But that’s not all. Arkham’s list showcases other assets under Coinbase’s belt, pushing the company’s cumulative worth on Arkham to $29.09 billion. The crypto firm also holds about 222.832 million USDC and assets worth $193.93 million, or 921,875 BNB. The San Francisco-based crypto marketplace is also the custodian of 854.137 million GRT, valued at around $74 million, and a notable 12.1 million UNI tokens, estimated to be worth about $51.1 million. While Coinbase boasts assets around the $29.09 billion mark, as highlighted by Arkham’s explorer, Binance dwarfs this with a staggering $64.83 billion in crypto holdings. Stacked against Coinbase, Binance’s BTC reserve sits at a more modest 658,256 BTC, valued at an estimated $17.50 billion. Interestingly, Binance’s most dominant asset is tether (USDT), with Arkham indicating that the exchange possesses a significant 21.18 billion USDT.
🔍 More Crypto News
💰 Base surges past Solana as total value locked nears $400M
The total value locked (TVL) on Coinbase’s layer-2 network Base has surged to $397.32 million since launching in August. That figure now places Base ahead of the Solana network, which has a TVL of $358.96 million at the time of writing. The past 30 days have been significant for Base, with data from DefiLlama showing that the network’s TVL increased by a whopping 97.21% over the past month. Decentralized exchange Aerodrome Finance takes the top spot with a TVL of $97.83 million, while decentralized social media app Friend.tech ranks second with a TVL of $36.53 million. Aerodrome was launched on Aug. 28, enabling users to deposit liquidity to earn its native AERO tokens, among several other features. While it failed to pull in significant deposits during its first couple of days, Aerodrome’s TVL skyrocketed on Aug. 31, with $150 million piling in on that day alone. Its TVL reached as high as $200 million on Sept. 2; however, the initial hype appears to have cooled since then, with the TVL decreasing by roughly 51% from its peak.
🔍 More Crypto News
⚪️ Google Cloud adds 11 new blockchains to BigQuery data analytics service
The cloud division at Google has added support for 11 additional blockchains into its BigQuery data analytics service. These networks are Avalanche, Arbitrum, Cronos, Fantom, Near, Optimism, Polkadot, Polygon, Tron and the test networks Polygon Mumbai and Ethereum Goerli. Google Cloud notes that users can now make intricate on-chain queries, such as assessing the number of NFTs minted or contrasting transaction fees across these chains. Integration with end-user applications like Looker and Google Sheets is also available. BigQuery, provided by Google Cloud, is a managed data warehouse service enabling users to conduct SQL-like queries on vast datasets. In 2018, Google Cloud launched its blockchain data services in BigQuery — aiming to grant developers access to on-chain data from Bitcoin and Ethereum. The following year, it added support for six more chains: Bitcoin Cash, Dash, Dogecoin, Ethereum Classic, Litecoin, and Zcash. With the recent addition of another 11 chains, the total number of supported networks stands at 19. Besides BigQuery, Google Cloud provides web3 infrastructure services, such as node hosting and the management of validator operations, for various blockchains on its platform — notably Ethereum, Solana, and Aptos.
🔍 More Crypto News
🪙 Tether Calls Out WSJ ‘Tabloid Style’ Reporting, States Outlet ‘Disregarded’ Reporting Banking Industry Woes
Tether, the company behind the issuance of USDT, the largest stablecoin in the crypto market, has called out the latest report of the Wall Street Journal (WSJ) on the rise of its loan portfolio. The company stated that traditional banking institutions were “not addressing the needs of their customers” while facing “significant challenges,” with the WSJ not reporting on this issue. Tether, the stablecoin company, has called out a recent Wall Street Journal (WSJ) article as “tabloid-style reporting” directed to “tarnish” the reputation of innovative companies. The article, which points out the rise in Tether loans in the latest financial quarter update, was heavily criticized by the company, which stated that the news outlet had ignored reporting on the problems the traditional banking industry is facing. Furthermore, Tether defended its financial position, boasting more than $3.3 billion in excess reserves, a number that would reduce its exposure to these secured loans. Tether declared it was still committed to removing the secured loans from its reserves. In the article bashed by the company, the WSJ reported that Tether spokeswoman Alex Welch confirmed the company received loan requests from customers with whom they had “cultivated longstanding relationships,” deciding to accommodate them.
🔍 More Crypto News
🪙 Chainlink Price Surges 20% From Beginning Of Month With Active Accumulation Of 81 Whales
Chainlink (LINK) is experiencing a remarkable surge, with its price up 20% from the September 12 low of $5.8. This substantial increase indicates the imminent onset of a strong bull run, accompanied by a significant accumulation of LINK by prominent investors, often referred to as “whales.”. Data from Lookonchain reveals a noteworthy development: on September 15, a total of 81 new wallets were created, which began withdrawing LINK from the popular exchange Binance on September 18. The resurgence in Chainlink’s price has pushed it above the crucial $6.50 resistance level. While the token is currently undergoing a correction, its upward momentum is evident, with a new support level forming around $6.62. However, Chainlink is now at a pivotal juncture, as it faces a decisive moment following a rejection from the supply zone at $7.05. This recent surge in LINK‘s price can be attributed to the Chainlink Cross-Chain Interoperability Protocol (CCIP), a groundbreaking development that provides Web3 developers with a secure and seamless interface for creating applications that can operate across various blockchains. Chainlink decentralized oracle networks, renowned for safeguarding substantial capital and facilitating over $8 trillion in transactions
🔍 More Crypto News
💰 12 Leading Bitcoin ETFs Hold Over 100,000 BTC – A Glimpse Into Crypto’s Bright Future
With research from Coingecko revealing that the world’s 12 largest Bitcoin ETFs now collectively hold a staggering 102,619 BTC. Although this represents less than 0.5% of the total Bitcoin supply, it signifies a growing institutional interest in the leading cryptocurrency. Among these 12 prominent Bitcoin ETFs, the ProShares Bitcoin Strategy ETF stands out as the largest, currently holding a substantial 35,890 BTC. This pioneering fund is not only the oldest but also the largest in the field. Notably, ProShares offers two of the top 12 Bitcoin ETFs. While the ETF market currently features futures-based Bitcoin offerings, the long-anticipated approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) could have profound implications for both Bitcoin and the broader crypto market. Mainstream Exposure: A spot Bitcoin ETF’s approval would open doors for tens of millions of new investors, granting them easy access to Bitcoin through retirement and brokerage accounts, ushering in a new era of mainstream crypto adoption. Increased Legitimacy: SEC approval would bestow legitimacy upon Bitcoin, erasing lingering stigmas and positioning it as a credible asset class suitable for institutional investors and financial advisors.
🔍 More Crypto News
🔻 Optimism selling $162 million in tokens, flags imminent transfer
Layer 2 network Optimism is selling 116 million OP tokens currently worth around $162.4 million in a private sale and will begin transferring the funds immediately. "Optimism has entered into a private token sale of approximately 116 million OP tokens, split among seven purchasers, for treasury management purposes," the organization said in a post. "The tokens are subject to a two-year lockup. During the lock-up, the purchasers will be able to delegate the tokens to unaffiliated third parties for participation in governance." Earlier this month, Optimism also said it was transferring 130 million OP tokens "between wallets for treasury management purposes." Additionally, it announced on Monday an airdrop in which it allocated 19.4 million OP tokens to 31,870 addresses that participated in delegation activities of its DAO called the Optimism Collective. The $162.4 million in tokens comes from "the unallocated portion of the OP token treasury and are part of the foundation’s original working budget of 30% of the initial OP token supply," Optimism also said. "There will be several transactions to send the OP," it said. "These are all planned transactions and we're sharing a heads up to keep the community informed," Optimism said.
🔍 More Crypto News
🟠 Binance participated in MiCA discussion with European Banking Authority
Binance said that some of the conversation centered on whether stablecoin operators can get a grace period when applying for Electric Money Institution (EMI) licenses in compliance with MiCA, which requires stablecoin issuers obtain an EMI license in the EU or else have their asset delisted from EU exchanges. Binance wrote in a Thursday statement. "While we are confident that there will be a constructive solution in place before the mid-2024 deadline, if left as is, this could have an impact on the European crypto market and the competitiveness of European crypto exchanges in a global market." "As an exchange that believes in the value of regulation and the pragmatic benefits of MiCA, we believe it’s important that these constructive conversations take place to help ensure that MiCA achieves its goals and any unintended consequences are reduced," Binance added. "The broad intent of MiCA is overwhelmingly positive for the crypto industry. As always, there are critical technical details that must be worked through," it continued. "We will continue to work constructively with regulators and engage on these important conversations in the interest of helping to grow the crypto markets around the world." Binance's CEO Changpeng 'CZ' Zhao has previously expressed support for MiCA, stating that it would be the "global regulatory standard copied around the world" since it helps streamline the number of licenses a digital asset provider must apply for.
🔍 More Crypto News
🏴 Coinbase Pay added to Aptos Labs crypto wallet
Aptos Labs has integrated its Petra crypto wallet with Coinbase Pay in an effort to streamline functionality and boost use. In the hopes of reducing friction when onboarding new users, Aptos Labs has added a Coinbase Pay integration to the mobile and desktop versions of its crypto wallet called Petra, the companies announced in a statement. "With Coinbase Pay, Coinbase users can add APT to Petra seamlessly through their choice of bank, debit card, credit card, and even their Coinbase account balance," Aptos said in the statement. The announced integration follows a flurry of similar announcements where companies are aiming to improve the onboarding of new customers by improving or adding to functionality, in some cases by partnering with traditional tech companies. Last month, Aptos said it is working with Microsoft to explore "innovative solutions" related to asset tokenization and digital payments. Coinbase has been working with payments giant PayPal since at least 2021. With the partnership Aptos, which was founded by former Meta employees, hopes to have a more direct line to Coinbase's millions of users.
🔍 More Crypto News
🇬🇧 UK bill to seize illicit crypto moves to final stages of approval
The bill will give local courts and law enforcement agencies new powers to quickly seize crypto assets used to launder money, traffic drugs, commit cybercrime or facilitate terrorism offences. The new legislation eliminates specific legal hurdles that currently slow the process of asset seizure, and provisions in the bill allow digital assets linked to criminal activities to be seized by authorities under the Proceeds of Crime Act 2002. The UK's Economic Crime and Corporate Transparency Bill has been passed to the final stages of approval by the House of Lords. Currently, crypto assets that are associated with illegal activities can be frozen but cannot be seized in criminal proceedings unless there is an arrest or conviction. If final approval is granted later this year, it will give local authorities more power to freeze and confiscate crypto assets associated with crime. The Bill was introduced in September 2022. Since then it has progressed through the House of Commons to the House of Lords, and is currently in the final stages of approval. To become law, it needs to go through a final assessment by the House of Commons and then be granted Royal assent by King Charles.
🔍 More Crypto News