London is gearing up for a major influx of crypto exchange-traded products (ETPs), igniting excitement among leading crypto ETF providers. The Financial Times has disclosed that giants in the financial sector, such as CoinShares, WisdomTree, and the ETC Group, are keenly exploring opportunities to list their products on the London Stock Exchange (LSE). This move comes as the Financial Conduct Authority (FCA) eases regulations, marking a pivotal shift in the market. Despite this progress, the FCA maintains a restriction that only allows professional investors to access these crypto ETPs on the LSE. This decision has sparked debate, with many industry…
Author: Rea K.
The creators of Slerf, a new memecoin on the Solana blockchain, mistakenly destroyed $10 million in SOL tokens. This fund, gathered from early backers during the presale phase, was intended for liquidity provisions and an upcoming airdrop. The incident occurred due to a misstep during token management operations. A Misstep with Major Consequences The blunder took place on March 18, when an attempt to eliminate a portion of the tokens via Solana’s online tools went awry. The mishap led to the deactivation of the coin’s creation ability. This error left investors empty-handed, as they were unable to receive the SLERF…
Binance recently launched an investigation into the Solana-based meme coin, Book of Meme. This decision follows community discussions and allegations about potential insider trading linked to an event known as the “BOME rat warehouse” incident. Binance emphasizes its dedication to ensuring market fairness and transparency by starting an internal inquiry to explore these allegations thoroughly. The exchange highlighted its efforts to determine if any Binance staff were involved with the insider trading allegations concerning BOME. Initial findings from Binance suggest that the person under investigation has no association with the platform. Binance urges anyone with information about insider trading or…
Kero, an NFT artist, has caused a stir by raising over $10 million in Solana (SOL) in a single day. This feat was achieved through the presale of a meme coin, initially started as a joke. Kero, embracing the humor and potential of the blockchain, queried his followers on X about launching a Solana-based coin “for fun.” The positive response was overwhelming, with over 5,000 endorsing the move. Subsequently, Kero revealed a wallet address for the presale of this new coin, named SNAP after a meme character Coco, which resembles the popular Pepe the Frog. The enthusiasm was palpable as…
Richard Teng, the CEO of Binance, believes Bitcoin will exceed $80,000. This comes as crypto-backed exchange-traded funds (ETFs) see a rise in investment, according to a Bloomberg report. Since taking the helm at Binance after Changpeng Zhao stepped down in November 2023, Teng has observed a notable entry of institutional capital into Bitcoin ETFs. This follows the U.S. Securities and Exchange Commission’s approval of these products. Teng is optimistic about Bitcoin’s price trajectory. He expects the cryptocurrency to climb beyond his initial year-end prediction of $80,000. This is due to a decrease in supply coupled with sustained demand. Even though…
A recent collaboration between the US Copyright Office and the US Patent and Trademark Office has led to a pivotal conclusion regarding the regulation of non-fungible tokens (NFT). Following a directive from Congress, these authorities embarked on a detailed examination to understand how NFTs fit within the existing intellectual property (IP) framework. Unveiling the Study’s Insights The investigation into NFTs and IP laws involved public discussions and a deep dive into relevant case law. This extensive process revealed that the current legal guidelines sufficiently cover the intricacies of NFTs, eliminating the need for additional regulations. Shira Perlmutter, the director of…
Bitcoin spot ETFs saw an unparalleled influx of funds, reaching a milestone of $1.05 billion in total net inflows. This event, occurring on March 12, marked a significant leap, boasting a 56% increase from the $673 million witnessed on February 28. This peak in inflows into Bitcoin ETFs is largely attributed to their exceptional performance, overshadowing the rate of Bitcoin’s newly mined supply. Clive Thompson, with a wealth management background and Swiss Private Banking experience, noted a striking acquisition of about 7200 Bitcoins by new Bitcoin ETFs on March 11. This volume greatly exceeds the daily mined Bitcoin average of…
UXLINK, a pioneering social network based in Singapore, has successfully raised $9 million. This funding round saw participation from both private cryptocurrency entities and companies listed on the stock exchange, marking a milestone in the company’s journey. OKX Ventures took the lead in this investment venture, alongside notable entities such as Web3Port Foundation, Cypher Capital, Kucoin Ventures, Gate Labs, and Matrixport Ventures. This financial boost aims to propel UXLINK towards launching an innovative project dubbed the “Social Liquidity Chain.” This initiative plans to incorporate Optimism and EigenDA technologies. The goal is to enhance support for third-party developers within the platform.…
Nigerian officials have escalated their actions against the global cryptocurrency exchange Binance. The latest move involves a demand for information on the exchange’s top 100 Nigerian customers, including six months of their transaction histories. This request follows closely on the heels of the detention of two high-ranking Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, who are integral to the company’s operations within Africa. Nigerian authorities have not charged the executives but have confiscated their communication devices and travel documents. Regulatory Crackdown Intensifies The backdrop to these events is a broader crackdown by the Nigerian government on cryptocurrency exchanges, aimed at…
Binance has declared a halt on trading for several stablecoin pairs, including those tied to the TrueUSD (TUSD), a stablecoin connected with Justin Sun. The affected trading pairs include COMP/TUSD, EDU/TUSD, and PENDLE/TUSD. This action is part of Binance’s commitment to ensuring high-quality market conditions by evaluating trading pairs for liquidity and volume. The suspension, set for March 15, 2024, at 03:00 UTC, also impacts other pairs such as ARPA/BNB and EDU/BNB. While these specific trading pairs will see cessation, Binance emphasizes that traders can still access the base and quote assets through other trading avenues available on the platform.…