Crypto News
TRON, Tether, and TRM Labs Team Up to Fight Crypto Crime with T3 Financial Crime Unit
TRON, Tether, and TRM Labs have launched the T3 Financial Crime Unit (T3 FCU) to combat illicit activities in the cryptocurrency sector, freezing over $12M in stolen $USDT. Key points: New crime unit: TRON, Tether, and TRM Labs form T3 Financial Crime Unit. Focus on crypto crime: Targets illicit activities involving $USDT on the TRON......
Japan’s Metaplanet Snaps Up $2M in Bitcoin Amid Ongoing Buying Spree
Japanese firm Metaplanet purchased an additional $2M worth of Bitcoin, bringing its total holdings to $26M. Key points: Another Bitcoin buy: Metaplanet purchased 38.4 $BTC, worth $2M. Growing reserves: Total holdings now stand at 398.8 $BTC, valued at $26M. Strategic treasury move: Metaplanet has been aggressively adding Bitcoin to its corporate treasury. Market position: The......
Tether Invests $100M in Agriculture Amid Rising Stablecoin Competition
Tether has invested $100M in Latin America's Adecoagro, signaling a move beyond crypto as the stablecoin market gets more competitive. Key points: $100M investment: Tether bought 9.8% of Adecoagro. Agriculture focus: Adecoagro produces milk, sugar, and ethanol in Argentina and Brazil. Stablecoin race: Tether faces rising competition from PayPal and Ripple. Ripple’s RLUSD: Ripple is......
Ether.Fi to Launch Visa ‘Cash’ Card with Crypto Collateral on Scroll Network
Ether.Fi is launching a Visa credit card allowing users to spend fiat while borrowing against their crypto assets, earning 3% cash-back. Key points: Crypto-backed Visa card: Ether.Fi introduces a Visa credit card that lets users borrow against crypto collateral. Scroll network partnership: The card will operate on Scroll’s Layer 2 network, enhancing transaction efficiency. 3%......
Friend.Tech Team Renounces Smart Contract Control After Platform Growth Stalls
Web3 social network Friend.Tech gives up control of its smart contracts after stagnant growth, signaling an end to future updates. Key points: Smart contract control revoked: The team renounced control on September 8, 2024. Early success, then stagnation: The platform initially grew fast but soon slowed down. Version 2 didn’t spark interest: A disappointing airdrop......
Rune Christensen Defends Sky’s Freeze Function Amid Decentralization Concerns
Rune Christensen, co-founder of Sky, addresses community concerns over the possible freeze function in the $USDS stablecoin, stressing governance and compliance needs. Key points: Freeze function concerns: $USDS stablecoin may include a freeze function, sparking centralization fears. Regulatory compliance: Christensen says it's essential for managing real-world assets and legal obligations. Governance-led decisions: The community will......
CZ Banned From Managing Binance For Life: Major Shift for Crypto Exchange
Former Binance CEO Changpeng 'CZ' Zhao has permanently lost the right to manage the platform under a settlement with U.S. authorities, though he keeps his shareholder rights. Key points: Lifetime ban: CZ can no longer manage or operate Binance. Shareholder status: He remains Binance's largest shareholder. CEO Richard Teng: Confirmed CZ's limited future involvement. Plea......
Sonic SVM Plans $12.8M HyperGrid Node Sale on Solana
Sonic SVM will launch a $12.8M sale of 50,000 HyperFuse nodes to support its gaming platform on the Solana blockchain, starting the week of September 16, 2024. Key points: Node sale launch: The sale starts the week of September 16, 2024. Total value: $12.8M expected from 50,000 nodes. Purpose: To fund development and support the......
Japan’s Major Banks to Test Cross-Border Stablecoin Transfer Platform
Japan’s top three banks—MUFG, SMBC, and Mizuho—are collaborating on "Project Pax," a stablecoin platform for faster, cross-border payments using blockchain technology. Key points: MUFG, SMBC, and Mizuho: Leading Japan’s stablecoin trial. Project Pax: A stablecoin platform for cross-border settlements. Blockchain firms involved: Progmat, Datachain, and TOKI. Launch expected in 2025: Aiming to commercialize the platform......
Core Blockchain Launches $LstBTC for Bitcoin Liquid Staking
Core Blockchain introduces $LstBTC, a liquid staking token pegged to Bitcoin. It enables users to earn rewards while keeping Bitcoin liquid for DeFi use. Key points: Liquid staking for Bitcoin: $LstBTC allows staking without locking $BTC. Rewards in CORE: Users earn daily rewards in $CORE tokens. Boost for DeFi adoption: Aimed at expanding Bitcoin’s role......
Robinhood Agrees to $3.9M Settlement Over Crypto Withdrawal Restrictions
Robinhood will pay a $3.9M penalty to the California Department of Justice for restricting crypto withdrawals between 2018 and 2022. Key points: $3.9M penalty: Robinhood to pay California DOJ. Crypto restrictions: Users could not withdraw crypto from 2018 to 2022. Forced sales: Customers had to sell crypto back to Robinhood. False advertising: Platform misled users......
Blockstream Launches New Bitcoin Mining Token Series
Blockstream has introduced its third series of the BMN2 token, allowing non-U.S. investors to gain exposure to Bitcoin mining by tapping into the company's hash rate. Key points: New BMN2 Series 3 launched: Provides access to Bitcoin's hash rate. Targeted for non-U.S. investors: EU-compliant security token. 1 PH/s hash rate allocation: Each token grants 1......
Skyscanner Integrates with Travala, Offering Crypto Payments for Hotel Bookings
Skyscanner now supports hotel bookings with over 100 cryptocurrencies through a partnership with Travala, expanding options for crypto travelers. Key points: Crypto bookings available: Skyscanner adds Travala, enabling hotel bookings using digital currencies. 100+ cryptocurrencies accepted: Users can pay with $BTC, $ETH, and more. 2.2M hotels: Travala’s inventory spans 230 countries. First crypto-integrated platform: Travala......
Uniswap Labs Fined $175,000 by CFTC for Illegal Crypto Derivatives Trading
Uniswap Labs has been fined $175,000 by the U.S. Commodity Futures Trading Commission (CFTC) for illegally offering crypto derivatives trading through leveraged tokens. Key points: CFTC fine: Uniswap Labs agreed to pay $175,000. Illegal derivatives: Uniswap offered unauthorized crypto derivatives through its decentralized platform. Leveraged tokens: These tokens did not meet CFTC requirements. Compliance issues:......
Major Swiss Bank ZKB Enters the Crypto Market with $BTC and $ETH Trading
Zurich Cantonal Bank (ZKB), Switzerland’s fourth-largest bank, now offers $BTC and $ETH trading through its e-banking and mobile platforms. Key points: New crypto trading service: The bank now offers $BTC and $ETH trading for customers. Secure storage of crypto assets: The institution securely stores private keys for clients. 24/7 access: Customers can trade crypto anytime......
Polygon’s $MATIC Token Becomes $POL, Boosting Utility in Polygon 2.0
Polygon’s $MATIC token has been upgraded to $POL, enabling enhanced utility for gas, staking, and cross-chain interoperability, as part of the Polygon 2.0 roadmap. Key points: MATIC to $POL migration: $MATIC holders now automatically upgrade to $POL at a 1:1 ratio. Polygon 2.0 integration: $POL powers Polygon’s new aggregation layer (AggLayer) for cross-chain operations. Expanded......
Trump’s DeFi Lending Play—Here’s the Scoop
Trump’s latest DeFi lending project, World Liberty Financial, is already under fire for being linked to a $2M DeFi hack and having some questionable team members. Key points: DeFi lending focus: World Liberty Financial is a new DeFi lending platform endorsed by Trump. Hack connections: Key team members were involved in a $2M DeFi hack......
Ripple Expands XRP Ledger with Ethereum-Compatible Smart Contracts
Ripple is set to introduce Ethereum-compatible smart contracts on its XRP Ledger, aiming to broaden its functionality and attract developers. Key points: Ethereum-compatible contracts: Ripple to add smart contracts via an Ethereum Virtual Machine (EVM) sidechain. Developer focus: Ripple aims to attract more developers by enabling familiar programming environments. Mainnet expansion: Smart contracts may expand......
Sky Aave Force: Aave and Sky Join Forces to Bring DeFi to the Masses
Aave Labs and Sky (formerly Maker) have teamed up to launch the Sky Aave Force initiative, a groundbreaking effort to merge decentralized finance (DeFi) with traditional finance (TradFi), aiming for mass adoption and broader accessibility. Key points: Strategic partnership: Aave Labs and Sky collaborate to launch Sky Aave Force, focusing on integrating DeFi with TradFi.......
Metaplanet Teams Up with SBI for Bitcoin Strategy Enhancement
Metaplanet has partnered with SBI VC Trade to enhance its Bitcoin trading, storage, and financial strategies, aiming to increase its corporate Bitcoin holdings and financial flexibility. Key points: Strategic partnership: Metaplanet collaborates with SBI VC Trade for comprehensive Bitcoin services. Custody and compliance: SBI provides secure, tax-efficient Bitcoin custody services. Financial flexibility: Metaplanet plans to......
