Author: James Wilson

Article written by James Wilson

Hong Kong moves closer to formalizing its stablecoin regulations

December 8, 2024 1 min read

On December 6, Hong Kong took a significant step towards regulating stablecoins by publishing a bill that outlines a comprehensive framework for issuers and marketers. This move comes as stablecoins gain traction as effective tools for cross-border transactions, with Standard Chartered referring to them as the crypto industry’s “killer app.” The proposed legislation mandates that stablecoin issuers and marketers obtain licenses from the Hong Kong Monetary Authority (HKMA), including those

Brazilian congressman Eros Biondini proposes a national bitcoin reserve

December 2, 2024 1 min read

Brazilian congressman Eros Biondini has introduced a bill to establish a national bitcoin reserve called ResBit. The proposal suggests Brazil’s central bank gradually acquire bitcoin until it comprises 5% of the country’s national reserves. Biondini’s initiative aligns with similar moves in the U.S., where Republican Senator Cynthia Lummis is advocating for a federal bitcoin reserve. Lummis’ proposal, unveiled at the Bitcoin 2024 conference, calls for the U.S. Treasury to accumulate

A former Binance executive is suing the company

December 1, 2024 1 min read

Amrita Srivastava, a former senior employee at Binance’s Link platform, has filed a lawsuit in the UK, accusing the crypto giant of bribery and wrongful termination. Srivastava alleges that a colleague accepted bribes disguised as consulting fees to provide preferential treatment to customers and claims she was fired in May 2023 after reporting the misconduct in April. Binance denies these claims, attributing Srivastava’s dismissal to poor performance. The company asserts

Binance Labs invests in Kernel to improve restaking on the BNB Chain

November 27, 2024 1 min read

Binance Labs has invested in Kernel, a platform focused on improving restaking infrastructure on the BNB Chain. This investment aims to enhance the security and utility of DeFi and other crypto applications on the network. Kernel’s first phase will integrate BNB Liquid Staking Tokens (LSTs) and restaked BNB as economic security, driving DeFi innovation. The platform’s long-term goal is to scale its infrastructure to include additional layer-1 blockchains, optimizing capital

Plaintiffs drop their appeal in the Dogecoin lawsuit against Elon Musk

November 19, 2024 1 min read

The legal battle between Dogecoin investors and Elon Musk, along with his company Tesla, has come to an end as the investors withdrew their appeal. The case, which originally sought $258 billion in damages, accused Musk of manipulating Dogecoin’s price through tweets, public appearances, and statements like calling it the “future currency of Earth.” In August, U.S. District Judge Alvin Hellerstein dismissed the lawsuit, stating that Musk’s comments, including his

Key details from MicroStrategy’s recent Bitcoin acquisition

November 18, 2024 1 min read

MicroStrategy has announced a significant Bitcoin (BTC) acquisition, purchasing 51,780 BTC between November 11 and November 17, 2024. This move highlights the company’s steadfast commitment to its Bitcoin-focused strategy, championed by Executive Chairman Michael Saylor. The purchase was funded through MicroStrategy’s At-the-Market (ATM) program, which involves issuing and selling shares to raise capital. To date, the company has utilized $5.7 billion of the program’s $21 billion total, leaving $15.3 billion

MicroStrategy acquires 27,200 more Bitcoin for $2B

November 12, 2024 1 min read

Michael Saylor’s company, MicroStrategy, has made headlines again by purchasing an additional 27,200 bitcoins for nearly $2 billion. This move solidifies MicroStrategy’s position as the largest corporate holder of bitcoin, bringing their total to 279,420 BTC, valued at just under $23 billion as the cryptocurrency reaches record highs above $82,000. The firm has invested a total of $11.9 billion in BTC, which means they are currently enjoying a profit of

SHIB burn rate jumps by 1330%, burning over 34 million tokens

November 9, 2024 1 min read

The Shiba Inu community is buzzing with excitement as the burn rate of SHIB tokens has skyrocketed by an impressive 1330%. In just 24 hours, a staggering 34,912,694 SHIB tokens were burned, which is a promising sign for investors. This reduction in supply could enhance the token’s scarcity, potentially driving up its value. Currently, SHIB is trading at $0.00001947, reflecting a 2.36% increase over the past day. The market capitalization

Ethereum plummets to a critical support level of around $2,400

November 4, 2024 1 min read

The cryptocurrency market is currently experiencing a familiar lull, reminiscent of previous cycles at the start of the month. After a brief surge on Saturday, activity has slowed down significantly over the past day. Traders are keeping a close eye on the US crypto scene, especially with potential influences like Federal Reserve rate cuts and upcoming elections that could sway prices. Ethereum, the leading altcoin, has been on a downward

Binance accused of charging a high amount of fees for listings

November 4, 2024 1 min read

Recently, the CEO of Moonrock Capital stirred up a conversation on Twitter by accusing Binance of imposing hefty fees for project listings. This sparked a lively debate among key figures in the cryptocurrency community, who shared a range of perspectives on the implications for decentralized projects on centralized platforms like Binance and Coinbase. In response to these claims, Yi He, Binance’s co-founder and chief customer service officer, took to her

OKX partners with Standard Chartered to offer secure, third-party crypto custody for institutional investors

November 1, 2024 1 min read

OKX, a cryptocurrency exchange, has teamed up with Standard Chartered to enhance security for institutional investors through reliable third-party custody solutions. This partnership merges OKX’s cryptocurrency expertise with Standard Chartered’s established reputation in traditional banking, aiming to build trust among institutional clients. The Chief of Security at OKX described this collaboration as a significant step forward, highlighting the critical need for trust and security as more institutional investors venture into

Bitcoin soars above $72K, liquidating over $200M in short positions

October 29, 2024 1 min read

In the last 24 hours, Bitcoin (BTC) has experienced a notable surge, climbing 5% and surpassing the significant $70,000 mark, according to CoinMarketCap. This rally has been accompanied by impressive trading volumes, reaching $48 billion—almost double what was seen on Monday. On Tuesday, Bitcoin soared past $72,000, driving a broader market upswing just days before the U.S. elections, which many traders view as a potential positive influence on the market,