Day: September 26, 2023

Ethereum Liquid Staking Protocols Hit New Milestone Following Massive Inflows

boss

Ethereum liquid staking platforms are making waves in the decentralized finance (DeFi) ecosystem. Recent on-chain reports have revealed that liquid staking protocols have recorded a new milestone in the number of Ether (ETH) staked, reaching a staggering 12 million ETH mark in just a few days.  Ethereum Liquid Staking Gains Momentum With Ethereum 2.0 thriving, liquid staking protocols in the DeFi ecosystem have been growing rapidly despite recent market volatility. Research data from DeFi TVL aggregator, Defillama, revealed on Monday, September 25, the tremendous growth of Ethereum holdings in liquid…

‘Massive’ crypto use cases to surface by 2030 — Coinbase exec

boss

Coinbase launched Base, its new blockchain, in late July, and it has already become a major player among Ethereum-based layer-2 chains.  On Sept. 21, for instance, the chain notched some 677,000 transactions, with 870,163 “new addresses seen,” according to Etherscan. By comparison, Arbitrum, a prominent layer 2 that launched in June 2021, had 925,000 transactions and 54,233 new addresses on the same day. Base is now hosting hundreds of decentralized projects, Jesse Pollak, head of protocols at Coinbase, told Cointelegraph at Messari’s Mainnet conference in New York City on Wednesday, Sept.…

Binance Academy Notes 62% Increase in Usage Led by Learners from Emerging Markets

The platform’s usage is not limited to individual users but also extends to educational organizations. Global crypto exchange Binance’s open-access blockchain and crypto education platform Binance Academy has reported a 62% increase in the number of users.  According to platform data, from September 2022 to August 2023 there was a marked increase in individuals seeking crypto education. This brings the total number of individuals to use the platform to further their knowledge of blockchain technology and cryptocurrencies since it was founded in 2018 to 39 million.   Top trending topics in…

Coinbase (COIN) Registers With Central Bank of Spain

The global economy may not be ready to face the worst-case scenario of the U.S. interest rate rising as high as 7% with stagflation, according to the CEO of investment banking giant JPMorgan (JPM), Jamie Dimon, Bloomberg reported on Tuesday. Since March 2022, the Federal Reserve has raised the benchmark borrowing cost by 525 basis points to the 5.25%-5.5% range to tame inflation. The so-called tightening cycle was partially responsible for last year’s crypto market crash. According to Dimon, the Fed may have to keep raising rates to subdue persistent…

MKR Price Continues to Climb Higher Level, Will It Surpass $1500?

boss

Maker DAO’s MKR has recorded a big push amid the slight uptick in the broader cryptocurrency market. Yesterday, September 25, the token rose from a low of $1,265 to a high of $1,343.  Although most tokens struggle to recover, MKR consolidated on its upswing with an impressive 5% 24-hour increase. MKR trades at $1335, striding to conquer the critical resistance at $1,350.  Its latest strides show buyers are in control, and their activity could facilitate more gains for MKR. But is the bullish momentum strong enough to push MKR to…

Taiwan bans unregistered foreign crypto exchanges from operating

boss

Taiwan’s Financial Supervisory Commission (FSC) is moving to improve protections for cryptocurrency investors by introducing new rules. The FSC has formulated the key points of regulating the cryptocurrency market in Taiwan, releasing on Sept. 26 a set of industry guidelines for virtual asset service providers (VASP) operating in the country. In the guidelines, the authority mentioned some common industry-wide rules like separating exchange’s treasury assets from customer assets as well as reviewing mechanisms for listing and delisting virtual assets. The FSC also required foreign VASPs to refrain from providing its…

Venezuela extends reorganization shutdown of crypto agency to March 2024

Venezuela was one of the first Latin American countries to establish its own crypto oversight body, the National Superintendency of Crypto Assets (Sunacrip). Now, the government says it will take six extra months to ‘reorganize” the entity, which de-facto stopped its work in March 2023.  According to the presidential decree, published on Sept 19, the head of State, Nicolás Maduro, ordered the extension of the period of forced reorganization of Sunacrip for another semester. The period of the new extension officially started on Sept. 17 and will last until March…

Binance Japan and MUFG Trust Bank Forge Partnership for New Bank-Backed Stablecoin

This partnership is also a significant stride in the Japanese government’s endeavor to embrace blockchain technology and cryptocurrencies, fostering their broader adoption within the country and beyond. Binance Japan is partnering with Mitsubishi UFJ (MUFG) Trust Bank, a move squarely aligned with the Japanese government’s new Web3 policy. This collaboration aims to birth a new stablecoin, and the chosen platform for its development is the Progmat coin platform, a proprietary asset of MUFG. This platform diligently adheres to the strict Japanese regulations governing the issuance and management of cryptocurrencies. Back…

Bitcoin gains legal recognition as digital currency in Shanghai, China

boss

The Shanghai No.2 Intermediate People’s Court in China has reportedly recognized Bitcoin (BTC) as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value. The Chinese court released a report on Sept. 25 discussing the development of internet technologies. The report stated that with the development of internet technology, digital currencies such as Bitcoin stand out as unique and non-replicable. The report states that among a sea of digital currencies, Bitcoin is different and unique from other digital assets. The report also sheds light on some of the unique…