Market News

Telegram earns $148M from crypto in 2023, but still faces over $100M in losses

September 2, 2024 1 min read

Telegram, a messaging app, has experienced a substantial rise in its earnings from Bitcoin, namely due to its incorporation with the TON blockchain. In 2023, Telegram earned a total of $148 million from its involvement in cryptocurrencies, with $130 million coming just from its integrated wallet services. In September 2023, the company introduced a self-custodial wallet that enables users to directly manage, trade, and store their crypto within the app.

Vitalik Buterin dismisses fears about Ethereum Layer-2 fund security

September 2, 2024 1 min read

Vitalik Buterin, the co-founder of Ethereum, has denied allegations that the network’s Layer-2 (L2) solutions carry a potential danger of confiscating users’ cash. He asserts that these solutions do not have the power to unilaterally remove assets. This follows recent debates on social media regarding the security of Ethereum’s Layer 2 (L2) networks, with a specific focus on platform X. Justin Bons, the founder and Chief Investment Officer (CIO) of

The SEC has issued a warning about FTX’s plans to use stablecoins and other crypto assets

September 2, 2024 1 min read

The US Securities and Exchange Commission (SEC) has warned FTX exchange about its strategy for repaying creditors, suggesting a possible objection to using stablecoins or other crypto assets. The SEC’s filing to the Delaware Bankruptcy Court highlights issues with FTX’s proposed use of stablecoins, particularly if they involve cryptocurrency assets. The agency has reserved the right to contest their use, particularly if they involve cryptocurrency assets. The SEC has also

Vitalik Buterin clarifies ETH sales were for projects and charity, not profit

August 31, 2024 1 min read

Ethereum co-founder Vitalik Buterin has denied selling Ether for personal gain, stating that his transactions were not driven by personal gain but to support Web3 projects and charitable initiatives. He has reduced his ETH holdings by 85K ETH ($209M) in three years, as per on-chain analytics firm Lookonchain. Buterin’s statement aims to emphasize his commitment to using his resources for important causes rather than personal enrichment. He has also addressed

Pantera Capital is raising over $1 billion for a new crypto fund

August 31, 2024 1 min read

Pantera Capital is currently in the process of raising more than $1 billion for its latest crypto fund, known as Pantera Fund V. The investment firm is allocating funds towards an infrastructure project on the Solana blockchain, connecting this recent initiative to its previous investment strategy, Pantera Fund IV. In this earlier move, the company acquired Solana and established a vesting term of up to four years for investors. Pantera

BlackRock launches its Ethereum ETF on Brazil’s B3 stock exchange

August 30, 2024 1 min read

BlackRock has introduced its Ethereum Exchange-Traded Fund (ETF) with the ticker symbol ETHA39 on Brazil’s B3 stock exchange. This enables Brazilian investors to gain exposure to Ethereum by investing in Brazilian Depositary Receipts (BDRs). This action represents a noteworthy advancement in the worldwide use of crypto, establishing Brazil as a leader in this emerging phenomenon. ETHA39 is a Brazilian extension of BlackRock’s iShares Ethereum Trust (ETHA) that enables investors in

The US Bitcoin ETFs see over $106 million outflow

August 29, 2024 1 min read

Bitcoin ETFs experienced outflows totaling $105.3 million, with six out of 11 ETF issuers losing $59.3 million. Fidelity’s FBTC saw a $10.4 million outflow, while Bitwise’s BITB and VanEck’s HODL lost $8.7 million and $10.1 million, respectively. Grayscale’s products also experienced outflows, with $8.0 million and $8.8 million withdrawn from GBTC and BTC, respectively. BlackRock’s IBIT did not register any outflows. The total net inflow for Bitcoin ETFs remains positive

Binance CEO Richard Teng denies reports that the exchange froze all Palestinian crypto assets

August 29, 2024 1 min read

Binance CEO Richard Teng has refuted accusations that the crypto exchange indiscriminately froze the funds of all Palestinian users, a situation that has raised alarm within the cryptocurrency community. Ray Youssef, the CEO of Noones and co-founder of Paxful, alleged that Binance had confiscated Palestinian funds upon the request of the Israel Defense Forces (IDF), which led to the emergence of these accusations. Youssef claimed that Binance impeded access to

Binance faces allegations of seizing Palestinian crypto assets at Israel’s request

August 28, 2024 1 min read

Binance crypto exchange is being accused of confiscating Palestinian bitcoin holdings upon the Israeli government’s request. Ray Youssef, one of the founders of the peer-to-peer crypto platform Paxful and CEO of the Noones peer-to-peer platform, claims that Binance confiscated all assets belonging to Palestinians and declined to give them back, despite multiple requests. He cautions that this may result in more extensive confiscation of assets throughout the area, underscoring the

Binance urges the U.S. to intervene and secure the release of an executive in Nigeria

August 28, 2024 1 min read

Binance is urging the US government and international bodies to pressure Nigeria to release its top executive, Tigran Gambaryan, who has been in custody for six months. Gambaryan’s detention is deemed unjust, and his physical and mental health is rapidly declining due to a lack of proper medical care and legal access. Binance CEO Richard Teng has expressed concerns about Gambaryan’s deteriorating health, citing a herniated disc that has left

Nasdaq seeks SEC approval to launch Bitcoin index options

August 28, 2024 1 min read

Nasdaq, a prominent American stock exchange operator, is seeking US regulators’ approval to introduce options based on a Bitcoin index. The suggested Bitcoin Index Options will utilize the CME CF Bitcoin Real-Time Index (BRTI), created by CF Benchmarks. This index follows BTC futures and options contracts on the CME Group’s platform. If authorized, the available choices will encompass European-style exercise and cash settlement. The ultimate settlement value will be determined

Russia is launching crypto trials to bypass international sanctions

August 27, 2024 1 min read

On September 1, Russia plans to conduct experiments using crypto exchanges and digital tokens for cross-border payments in order to avoid international sanctions. This action is critical for Russian enterprises that are struggling to make payments due to economic sanctions. During these experiments, the National Payment Card System (NSPK) will be used to enable ruble-to-crypto exchanges. In July, Russia’s parliament passed legislation to legalize crypto mining and establish a framework