Day: September 1, 2023

Turkey sees rise in adult crypto investors, report reveals

A recent report by the crypto exchange KuCoin reveals that more than half of the adult population in Turkey invests in cryptocurrencies. The report, titled “Into The Cryptoverse: Understanding Crypto Users in Turkey,” discloses that 52% of the country’s adult population was engaged in crypto investments as of May 2023. This rate was 40% in November 2021. Moreover, this indicates a remarkable 12% increase over the past 18 months. The surge brings to light the growing prominence of the crypto industry within Turkey despite prevailing market conditions. Turkish nationals’ desire…

Ethereum staking services agree to 22% limit of all validators

boss

At least five Ethereum liquid staking providers have either imposed or are working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking market — seen as a move to ensure the Ethereum network remains decentralized. Among the Ethereum staking providers either already committed or are working to commit to the self-limit rule include Rocket Pool, StakeWise, Stader Labs and Diva Staking, according to Ethereum core developer Superphiz. Puffer Finance, another liquid staking service, also announced its commitment to the self-limit.  These providers…

Binance Australia GM ‘really confident’ regulators will side with crypto

boss

Binance Australia General Manager Ben Rose says he’s “really confident” that Australian regulators will eventually make the right choices when it comes to laws that govern digital assets in the country.  “There are lots of very smart people in the government working really hard on [crypto] policy, so I’m really confident that we’ll get there in the end,” said Rose, speaking to Cointelegraph at the Intersekt Fintech conference in Melbourne, Australia on Aug. 31. Roses’ comments stand against a backdrop of recent hostility towards crypto — some of which has…

Lufthansa Group taps NFTs, launches loyalty program on Polygon

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Lufthansa Group, the flag carrier of Germany, has introduced Uptrip, a new loyalty program leveraging non-fungible tokens (NFTs), on Polygon, an Ethereum sidechain. Different airlines, including Austrian Airlines, Swiss International Airlines, among others, are part of the program. The initiative offers passengers NFT rewards that unlock various benefits like access to exclusive airport lounges, WiFi, and bonus airline miles. The company aims to enhance the current NFT Uptrip by introducing a trading feature on Polygon and…

Chief Marketing Officer Haider Rafique

The company, which doesn’t have a global headquarters, has regional hubs in Hong Kong, Singapore, Dubai and the Bahamas. It plans to scale up its wallet services “exponentially” by tapping into India’s much-talked-about developer community, Haider Rafique said in an interview. Currently, OKX has about 200,000 wallet users in India, which is only 5% of the nation’s Web3 users, he added. Source

Giddy, a self-custody smart wallet, extends to Ethereum

Giddy, a self-custody smart wallet with advanced private key technology, has integrated Ethereum, the pioneer smart contract platform. The aim is to enhance the wallet functionalities and accessibility across multiple networks, enhancing user experience. Giddy expands, supports Ethereum The Giddy smart wallet aims to provide its users with an easy retail experience, allowing them to access decentralized finance (defi) earning opportunities. The project initially launched on Polygon. In a press release shared exclusively with crypto.news, this expansion will set the course for future expansions into EVM-compatible laye-1 and layer-2 platforms.…

UK’s Travel Rule comes into effect, could halt certain crypto transfers

boss

Cryptoasset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1. The rules targeting virtual asset service providers were first introduced by the Financial Conduct Authority on Aug. 17, and see to it that VASPs based in the U.K. will “collect, verify and share information” relating to crypto-asset transfers. If an inbound payment is received from a person or entity from an overseas jurisdiction that hasn’t implemented the Travel Rule, the VASP must…

Bitcoin traders wipe Grayscale gains after SEC delays spot ETF decisions

boss

In less than a day, Bitcoin (BTC) has shed nearly all the gains it made from Grayscale Investment’s court victory against the United States Securities regulator. On Aug. 29 Bitcoin popped to a two-week high after a judge ruled that the Securities and Exchange Commission was “arbitrary and capricious” when it rejected Grayscale’s spot Bitcoin ETF application. However, the SEC’s recent delay to seven pending spot Bitcoin ETF applications has sent Bitcoin’s price downwards, falling nearly 5% in the last 24 hours. Cointelegraph Markets Pro data shows Bitcoin’s price is…

Base TVL Surges By 76% Amidst New DeFi Protocol Hype

boss

Base, an Ethereum layer 2 (L2) network developed by prominent cryptocurrency exchange Coinbase, has seen its total value locked (TVL) soar to new heights on Friday, August 31. This surge was triggered by the recent launch and growing hype around the decentralized exchange (DEX) platform Aerodrome. Total Value Locked on Base Reach $333 Million The total decentralized finance (DeFi) deposits on Base have hit a new all-time high following a nearly 76% spurt in the past 24 hours. According to data from DefiLlama, the network’s TVL currently stands at $346.39…

USDT has been depegging throughout August

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Kaiko, a crypto analytics platform, claims that the largest stablecoin by market cap, USDT, has been depegging in August. A stablecoin depegs when it trades below the fiat currency or asset it’s meant to mirror. USDT has been depegging all month. Why hasn’t anyone noticed? In this week’s Deep Dive we propose a novel method of rating stablecoin depegs, check it out below ⬇️https://t.co/o8LuiTMSqW — Kaiko (@KaikoData) August 31, 2023 Kaiko data shows that on Aug.…