“The progression from the Provisional License, granted in 2022, to an Operational MVP License, means eligible users in Dubai will now be able to access authorized services, including the ability to safely convert virtual assets to fiat under VARA-designated standards compliant with the intergovernmental Financial Action Task Force,” a Binance blog said. Source
Bitcoin prices have been stagnant, trading below the psychological $30,000 level. The coin is technically under pressure, declining from its peaks of around $31,800 recorded in early July 2023. Amid this development, on-chain data reveals that the Bitcoin miner reserve has been increasing, notwithstanding prevailing market conditions, bouncing back from May 2023 lows. According to data from CryptoQuant, the BTC miner reserve stands at 1.841 million as of July 30, up from 1.826 million on May 27. Bitcoin Miner Reserve Rising The increasing BTC miner reserve and relatively stable and steady…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Securities and Exchange Commission (SEC) asked Coinbase to halt all crypto trading operations except for Bitcoin (BTC). Financial Times (FT) report cites the San Francisco-based crypto exchange Coinbase’s CEO Brian Armstrong. He claims that SEC’s request came prior to the regulator’s lawsuit against the exchange. On July 6, SEC sued Coinbase for allegedly operating in the US without having the necessary registrations. Moreover, Armstrong believes that the agency’s demand to halt all digital asset…
Late Sunday, Curve, the third-largest DEX, fell victim to a flash loan exploit that put $100 million worth of cryptocurrency at risk. Curve DAO’s native CRV token fell over 15% to $0.63 following the attack. The quick decline introduced additional risk, potentially threatening to liquidate $70 million worth of borrowed position of Curve founder. Source
Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how…
Memecoin madness has arrived on Coinbase’s Ethereum layer-2 scaling solution Base, bringing with it everything from remarkable shitcoin surges to classic token rug pulls. On July 30, memecoin traders were snapping up a suite of questionable tokens on Base, with one Brian Armstrong-themed memecoin dubbed “BALD” experiencing a 289,000% gain within the first 14 hours of trading. BALD price chart since inception. Source: DexScreener This is despite the Bald token not having any official website, or any discernable purpose, creator, or utility. According to data from blockchain analytics service Lookonchain,…
The recent Curve Finance exploit has reportedly led to one of the largest ever maximal extractable value (MEV) reward blocks of 584.05 Ether (ETH). On July 31, Ethereum core developer “eric.eth” reported that “today has produced some of the largest MEV reward blocks in Ethereum’s history,” adding it was caused by the exploit of Curve Finance stable pools on July 30. Data shows a larger MEV reward block of 692 ETH was recorded in March. “A bot notices an incoming hack in the mempool, reproduces the tx [transaction] and front…
Dogecoin is showing positive signs above the $0.075 resistance against the US Dollar. DOGE could extend its rally if it breaks the $0.0835 resistance zone. DOGE is currently trading in a bullish zone above $0.075 resistance against the US dollar. The price is trading well above the $0.0765 zone and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.0760 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The price could start another increase if it clears…
Australia’s Bendigo Bank has become the fourth major bank in the country to announce blocks for “high-risk crypto payments,” citing the need to protect customers from investment scams. The bank said on July 31 it implemented new rules on instant payments to crypto exchanges which adds “some friction to certain genuine payments,” explained its head of fraud Jason Gordon. It cited combatting fraudulent payments and enhancing protections for its 2.3 million customers as reasons for the blocks. Screenshot of Bendigo Bank’s warning about investment scams. Source: Bendigo Bank A Bendigo…
“They came back to us, and they said . . . we believe every asset other than bitcoin is a security,” Armstrong said according to the FT. “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.” Original