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US lawmakers are hopeful about approving crypto regulations before the upcoming November elections
3 weeks ago 1 min read

US lawmakers are hopeful about approving crypto regulations before the upcoming November elections

Legislators in the United States are hopeful that they may enact major crypto legislation before the November elections, and this includes Senator Cynthia Lummis and Congressman Patrick McHenry. McHenry thinks that the change in leadership from Kevin McCarthy to Mike Johnson as House Speaker has accelerated legislative progress, creating unique chances to adopt legislation pertaining to crypto in a year when elections are taking place. He has high hopes for two legislation that would regulate stablecoins and improve the crypto market: the Keep Innovation in America Act and the Clarity for Payment Stablecoins Act. In line with the Biden administration’s

BlackRock to offer a $100K minimum tokenized fund
4 weeks ago 1 min read

BlackRock to offer a $100K minimum tokenized fund

BlackRock, the world’s top asset manager, has announced plans to launch a tokenized investment fund in collaboration with Securitize, a financial services firm. The USD Institutional Digital Liquidity Fund, which requires a minimum investment of $100,000 from external investors, has been submitted to the US Securities and Exchange Commission (SEC). Additionally, the fund will be managed by Securitize Markets, a Miami-based platform for digital assets. Besides, a token representing the fund, named BUIDL, was launched on the Ethereum blockchain on March 5. Furthermore, the fund is limited to 100 tokens, with only one holder recorded so far. BlackRock’s Bitcoin venture,

Coinbase removes meme coin page targeting Senator Elizabeth Warren
1 month ago 1 min read

Coinbase removes meme coin page targeting Senator Elizabeth Warren

Coinbase exchange removed a page offering guidance on buying a meme coin named “Elizabeth Whoren” after US Senator Elizabeth Warren, known for her critical stance on crypto. This event highlights the clash between some crypto supporters and regulators. Senator Warren has openly criticized the crypto world, urging for tighter control to address its risks. As a result, some individuals within the crypto community developed meme coin tokens primarily for satirical purposes rather than as financial opportunities, such as the one that parodies Warren and is located on the Solana blockchain. Coinbase customers saw a website providing instructions on how to

Coinbase plans to raise $1B through convertible note offering amid Bitcoin's record highs
1 month ago 1 min read

Coinbase plans to raise $1B through convertible note offering amid Bitcoin’s record highs

Coinbase exchange plans to raise $1 billion through convertible notes, targeting institutional investors amid bitcoin’s growth and US bitcoin ETFs setting records. Furthermore, the notes will mature by 2030 and can be converted into cash, Class A stock, or a mix of both. Plus, the company aims to allocate the funds towards general corporate needs and settle existing debts. This includes convertible senior notes and senior notes due between 2026 and 2031. Besides, some proceeds may be used for investing in or acquiring other firms, products, or technologies aligning with Coinbase’s strategic vision. Recently, the exchange’s stock saw over 2.5%

Virginia-based MicroStrategy Incorporated,
1 month ago 1 min read

MicroStrategy secures $800M from notes sale to fund its growing Bitcoin portfolio

Virginia-based MicroStrategy Incorporated, well-known for embracing Bitcoin early on, has concluded a $800 million convertible note issuance. Finalized on March 8, 2024, the sale is aimed to institutional purchasers that meet certain regulatory requirements. Furthermore, an extra $100 million is included in the $800 million from an option that purchasers fully exercised on March 6, 2024. Plus, investors may choose between debt and equity via convertible notes, which have a semi-annual interest rate of 0.625% and mature on March 15, 2030. Additionally, with a conversion rate of 0.6677 shares for every $1,000, an initial conversion price of around $1,497.68 per

Tesla's Bitcoin holdings have seen a significant increase, with Arkham Intelligence revealing a total of 11,509 BTC
1 month ago 1 min read

Tesla’s surprise Bitcoin boost sparks speculation and future market impacts

Tesla’s Bitcoin holdings have seen a significant increase, with Arkham Intelligence revealing a total of 11,509 BTC, surpassing the amount disclosed in their last earnings call. Tesla has also made a fresh purchase of $5.94 million worth of Bitcoin, further fueling speculation and interest in their cryptocurrency strategy. In February 2021, Tesla invested $1.5 billion in Bitcoin and briefly accepted it as a payment method for their electric cars. However, the venture was short-lived as the company sold about 10% of its holdings in March 2021 and offloaded 75% of its Bitcoin stash in the second quarter of 2022 due

Charles Hoskinson publicly refutes rumors of leaving Cardano
1 month ago 1 min read

Charles Hoskinson publicly refutes rumors of leaving Cardano

Charles Hoskinson, CEO of IOHK and the visionary behind Cardano, has reiterated his commitment to the blockchain platform, claiming that his involvement with the Midnight project and the prospect of implementing a multi-chain strategy are unrelated to his resignation. Hoskinson’s remark, “The answer is no,” highlighted the hard work of hundreds of IOG engineers and scientists working on Cardano. This move is timely as the blockchain industry evolves, with initiatives like Midnight emerging to target specific market needs like as data protection and privacy. Despite Midnight’s lofty aspirations, Hoskinson’s involvement with the project does not signal a shift away from

The US SEC's action against Binance has been continuing since June
1 month ago 1 min read

US SEC claims that Binance.US refuses to provide certain information, which the exchange denies

The US SEC’s action against Binance has been continuing since June, with Binance Holdings Ltd facing fines of up to $4.3 billion. Former CEO Changpeng Zhao was forced to resign and is now on bond. However, Binance.US, previously known as BAM Trading Services, is still battling the SEC in court. The Washington D.C. court ordered the two parties to collaborate on the discovery process, but the SEC claims that the two sides have reached an impasse. According to the watchdog, Binance.US refused to allow agency personnel to inspect its in-house software, stating that it was programmed and provided no actual

Binance to transfer large amount of Bitcoin (BTC) to another address as part of its wallet maintenance
1 month ago 1 min read

Binance to transfer large amount of Bitcoin (BTC) to another address as part of its wallet maintenance

Binance, the world’s leading crypto exchange, has issued a warning about large-scale Bitcoin transfers due to routine wallet maintenance. The exchange said it will be moving a significant amount of BTC to another address within its network. While announcing the move, the exchange reassured users that these transactions are part of internal operations and not indicative of any outward flow of funds. The crypto exchange has taken the proactive step of informing users and the wider crypto community about the impending transfers, as the crypto hit its all-time high of $69,050 before dropping to around $67,000.

Nigerian authorities issue a final warning to Binance CEO Richard Teng
1 month ago 1 min read

Nigerian authorities issue a final warning to Binance CEO Richard Teng

Nigerian authorities have reportedly issued a final warning to Binance CEO Richard Teng, demanding his presence before the House of Representatives Committee on Financial Crimes by March 4. This comes after Binance settled with the U.S. Department of Justice for money laundering and agreed to a $4.3 billion fine. The committee is investigating Binance for alleged financial crimes, including money laundering and supporting terrorism. Failure to comply could lead to severe legal action, reflecting the government’s commitment to safeguarding Nigerian citizens from foreign financial misconduct. Binance has ignored requests to discuss its adherence to Nigerian laws and tax obligations, with

China's stock market performance has led to a surge in cryptocurrencies
1 month ago 1 min read

Chinese turn to Bitcoin (BTC), seeking stability in crypto’s ‘safe haven’

China’s stock market performance has led to a surge in cryptocurrencies, despite the country’s prohibition since 2021. Finance professional Dylan Run, from Shanghai, reportedly shifted his investments to crypto in early 2023, using bank cards from smaller rural banks to avoid detection. Dylan Run’s crypto holdings now make up half of his investment portfolio, an over 45% increase in value compared to the stock market’s downturn over the past three years. This trend is gaining traction among Chinese investors seeking stability away from the faltering stock and real estate markets. They access digital assets through various channels, including crypto exchanges

Uniswap's Layer-2 (L2) ecosystem had a record transaction volume of $208.11 billion in February 2024
1 month ago 1 min read

Uniswap’s L2 transaction volume hits over $200 billion ATH, driving up UNI token price

Uniswap’s Layer-2 (L2) ecosystem had a record transaction volume of over $200 billion in February 2024, a notable milestone in the decentralized finance (DeFi) industry. The significant increase in volume, which resulted in a 280% rise from February 2023, demonstrates the increasing acceptance and utilization of decentralized exchanges by cryptocurrency traders and investors. The rise in transaction volume has impacted the price movement of Uniswap’s native token, UNI, resulting in a 15% value appreciation. Yet, the price has decreased, and UNI is now trading at $12.22, showing a slight 5% rise in the past 24 hours. The general sentiment remains