Crypto News
TrueX, a New Non-Custodial Exchange, Launched by Former Coinbase Executives
Former Coinbase executives launched TrueX, a non-custodial, stablecoin-focused exchange that enhances security by separating order matching and asset custody. Key points: New exchange launched: TrueX is a non-custodial, stablecoin-native platform. Founders: The exchange was founded by two former Coinbase executives. Focus on security: TrueX separates order execution from asset custody for better security. Stablecoin integration:......
Google Cloud Launches Ethereum-Compatible Blockchain RPC Service
Google Cloud has introduced a Blockchain Remote Procedure Call (RPC) service compatible with Ethereum, improving blockchain data interaction for developers. Key points: Ethereum support: Currently only compatible with Ethereum mainnet and testnet. Future plans: Google Cloud aims to support more blockchains in the next year. Free tier: Developers get up to 100 requests per second......
Revolut Nears Launch of Its Own Stablecoin
Revolut is reportedly developing its own stablecoin, aiming to expand its cryptocurrency offerings and solidify its position as a crypto-friendly fintech. Key points: Stablecoin development: Revolut is working on its own stablecoin, sources confirm. Compliance focus: The fintech giant emphasizes a compliance-first approach for this venture. Global crypto strategy: The move aligns with Revolut’s broader......
DBS Bank to Launch Crypto Options and Structured Notes for Institutions in Q4 2024
DBS Bank will introduce over-the-counter (OTC) crypto options and structured notes for institutional clients in Q4 2024. These will provide exposure to Bitcoin and Ethereum. Key points: Launch date: DBS Bank plans to roll out the services in Q4 2024. Target audience: Available to institutional investors and accredited wealth clients. Crypto focus: The offerings will......
WalletConnect to Airdrop 185M $WCT with New Token Launch
WalletConnect will launch its native token, $WCT, on Optimism's OP Mainnet, airdropping 185M tokens to users starting September 24. Key points: New token launch: WalletConnect introduces its native Connect Token ($WCT). Airdrop size: 185M $WCT tokens will go to eligible users. Eligibility: Users must connect their wallet, GitHub, and email to register. Non-transferable tokens: $WCT......
$USDC Stablecoin Expands to Sui Network with Cross-Chain Support
Circle’s $USDC stablecoin will soon be natively available on the Sui network, expanding its reach across multiple blockchains. Key points: Native support: $USDC will be available on the Sui network via Cross-Chain Transfer Protocol (CCTP). Enhanced interoperability: CCTP enables seamless $USDC transfers across different blockchain networks. Faster transactions: Sui uses the Move programming language for......
Circle to Move Headquarters to New York City, Signaling Closer Ties with TradFi
Circle, the issuer of $USDC, is relocating its headquarters from Boston to New York City's One World Trade Center. This move strengthens the company’s connection with traditional finance. Key points: New HQ: Circle will establish its new base at One World Trade Center. IPO plans: The move comes ahead of a planned initial public offering......
Binance Founder CZ to Leave Prison on September 29
Changpeng Zhao (CZ), the founder of Binance, will leave prison on September 29 after a 4-month sentence for anti-money laundering violations. Key points: Confirmed release: CZ will leave Long Beach RRM on September 29. Sentence: He received 4 months for anti-money laundering failures. Prison time: He started serving at Federal Correctional Institution Lompoc. DOJ investigation:......
Sky Proposes Full Offboarding of Wrapped Bitcoin Due to Justin Sun Controversy
Sky (formerly Maker) plans to remove Wrapped Bitcoin ($WBTC) as collateral due to concerns over Justin Sun's involvement in the asset’s restructuring. Key points: Proposal from BA Labs: Sky is considering fully offboarding $WBTC. Justin Sun's alleged control: Concerns about Sun’s hidden influence over $WBTC. Offboarding plan: Gradual liquidation increases to minimize user impact. Sky’s......
MicroStrategy Buys 18,300 $BTC, Boosts Holdings to 244,800
MicroStrategy has acquired an additional 18,300 $BTC for $1.1 billion, bringing its total holdings to 244,800 $BTC, valued at $14 billion. Key points: 18,300 $BTC acquired: The company purchased more Bitcoin at an average price of $60,408 per $BTC. Total holdings: MicroStrategy now holds 244,800 $BTC, worth approximately $14 billion. Purchase cost: The firm has......
Vitalik Buterin: Stage 1+ L2 Networks Will Be the Future of Ethereum Scaling
Vitalik Buterin will only endorse Layer-2 networks meeting “Stage 1+” standards from 2025, with a focus on security and decentralization. Key points: Buterin's focus: Buterin will promote only Stage 1+ Layer-2 networks starting in 2025. Security emphasis: Stage 1+ projects must have strong fraud-proof systems and decentralized governance. Selective endorsement: Buterin might allow a short......
Trump Announces Launch of World Liberty Financial: ‘We’re Embracing the Future with Crypto’
Donald Trump revealed that his crypto project, World Liberty Financial, will officially launch on September 16, marking a major pivot towards decentralized finance. Key points: Launch date: World Liberty Financial goes live on September 16, 2024. Platform: Built on the Aave and Ethereum blockchain. Focus: A “credit account system” is central to the project’s DeFi......
eToro Settles with SEC for $1.5M
eToro will pay a $1.5M fine to the SEC and reduce its crypto offerings in the U.S. after being accused of operating without proper registration. Key points: SEC fine: eToro will pay $1.5M to settle charges. Fewer crypto tokens: eToro will stop supporting several crypto tokens in the U.S. Limited U.S. offerings: Bitcoin, Ethereum, and......
Ark Invest Snaps Up $8.4M in Coinbase Shares Following Post-Debate Crypto Slump
Ark Invest purchased 53,708 Coinbase shares worth $8.4M after a U.S. presidential debate triggered a crypto market dip. Key points: Post-debate market drop: Ark Invest seized an opportunity after a U.S. presidential debate hit crypto prices. 53,708 shares purchased: The firm acquired $8.4M worth of Coinbase stock across three ETFs. Coinbase holdings update: $COIN is......
Grayscale Launches XRP Fund
Grayscale launched an $XRP closed-end fund, causing $XRP’s price to jump as investors expect broader institutional exposure. Key points: Grayscale launches $XRP fund: The fund offers accredited investors exposure to $XRP. Potential $XRP ETF: This could pave the way for a future exchange-traded fund (ETF). Ripple’s legal victory: The fund follows Ripple’s recent win over......
Solo Bitcoin Miner Strikes Gold with $181K Block Reward
A solo Bitcoin miner hit the jackpot by mining an entire block, securing a massive $181,000 reward, beating powerful mining pools. Key points: Lucky solo miner: Successfully mined block 860749, earning 3.125 $BTC. High hashrate environment: Larger mining pools like FoundryUSA dominate more than 50% of the hashrate. Small miners’ resurgence: New mining rigs offer......
Indonesian Crypto Exchange Indodax Shuts Down Amid $22M Hack
Indodax, a leading crypto exchange in Indonesia, lost $22M to a hack, prompting a temporary suspension of its services for investigation. Key points: $22M stolen: Hackers stole $BTC, $ETH, $TRX, $MATIC, and other tokens. Hot wallets breached: The attack focused on Indodax’s hot wallets. 150 suspicious transactions: Hackers transferred the stolen funds to $ETH. North......
Caroline Ellison Seeks to Seal Supporters’ Identities Ahead of Sentencing
Caroline Ellison, former Alameda Research CEO, asked the court to redact the names and personal details of her supporters ahead of her Sept. 24 sentencing. Key points: Sentencing date set: Ellison faces sentencing on Sept. 24, 2024. Redaction request: She wants to keep her supporters' names and details private. Harassment concerns: The request comes due......
Paxos Expands to Arbitrum, Boosting Ethereum Layer 2 Ecosystem
Paxos is launching its stablecoins on Arbitrum One, bringing more services to Ethereum's Layer 2 network. Key points: Paxos enters Arbitrum One: Expands into Ethereum's Layer 2. Specific products not revealed: No clear details on the first launch. Arbitrum One has $2.5B TVL: A major player in Layer 2 solutions. Stablecoins available on other chains:......
Sony Bank and Soneium Partner to Launch Japan’s First Yen-Linked Stablecoin
Sony Bank partners with Soneium to launch a yen-backed stablecoin, aiming to lower transaction costs and improve financial efficiency in Japan. Key points: Sony Bank and Soneium collaboration: The two companies are developing a yen-linked stablecoin. Focus on blockchain: The stablecoin aims to reduce transaction costs and streamline payments. Compliance first: Sony Bank will run......
