Month: July 2024

BlackRock’s Tokenized Fund BUIDL Pitched to Ethena as Reserve Asset

Ethena’s open competition is the latest example of tokenized RWAs getting increasingly used in the crypto-native, decentralized finance (DeFi) world. Most recently, DeFi lender MakerDAO announced plans to invest $1 billion of backing assets of the DAI stablecoin in tokenized Treasury products, while ArbitrumDAO, an ecosystem development organization of Ethereum layer-2 Arbitrum, finalized a similar contest to allocate the equivalent of 35 million of ARB tokens in tokenized offerings. Source

Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages

Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler’s own communications – but the scope of its latest request filed on Tuesday has been dialed back after resistance from a federal judge. Source

Bitcoin is ‘most abused’ crypto by criminals

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According to a recent report from the Europol Internet Organized Crime Threat Assessment, Bitcoin remains the most commonly exploited cryptocurrency by criminals. The report noted that Bitcoin is often converted to stablecoins like Tether (USDT) for stability and is still frequently encountered in cybercrime and fraud. The Tron blockchain’s lower transaction fees have made it more popular for USDT transactions.  “Bitcoin is still the cryptocurrency that is most abused by criminals but the use of alternative coins (altcoins) seems to be growing,” the report read.  Stablecoins with blacklisting functionality have…

Bitwise becomes 1st US ETF to post Ethereum addresses

Bitwise disclosed several ENS addresses used to store Ethereum tokens for its spot ETH ETF, which launched on Tuesday. Bitwise became the first U.S. spot Ethereum (ETH) ETF issuer to publish wallets after committing to transparency for its ETHW fund. The wealth manager made a similar move in January when it disclosed public Bitcoin (BTC) addresses for assets underpinning the BITB spot BTC ETF.  Five addresses assigned Ethereum Name Service (ENS) tags were posted shortly before ETHW and eight other funds started trading. ENS sub-names simplify Ethereum addresses, which are typically…

ETH ETF Trading Volume Above $600M in First Half Day

“We assume $ETHE volume is mostly outflows,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. Grayscale’s ETHE, in similar fashion to its Bitcoin Trust (GBTC), entered the race with over $9 billion in assets, thus giving rise to the idea that much of its volume is due to outflows. Source

Bulls Pummel The Bears with a 10% Uptick This Week

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Crypto gaming is making a comeback with Immutable leading the charge. This led IMX, the native token of the platform, to give strong bullish signals, giving investors and traders a substantial 10% uptick since last week.  Related Reading The move was supported by an increase in activity within the Immutable network itself, with more than enough game announcements since last week. Hype aside, Immutable is currently solidifying its position within the crypto gaming industry.  Major News For The Crypto Gaming Industry  Immutable’s platform for the crypto gaming industry has been…

Indian Crypto Exchange WazirX Increases Bounty for White Hat Hackers to $23,000,000

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India-based crypto exchange WazirX is increasing a reward offer in hopes of recovering the $230 million that hackers stole from the platform. In a new announcement, WazirX says they are increasing the reward to 10% of the stolen funds, or $23 million. “We invite white hat hackers, blockchain forensics experts and cybersecurity professionals from around the world to join this critical mission and protect the integrity of the crypto ecosystem. For more details on how you can assist in the recovery, please visit our updated blog post.” White hat is…

Ethereum Market Stagnation Marks Tepid Trading Day Despite ETF Launch

Ethereum’s price exhibited volatility on Tuesday, coinciding with the launch of U.S. spot ether exchange-traded funds (ETFs) on Wall Street. At around 5 a.m. EDT, ETH surged to an intraday high of $3,540 per coin but later dropped to approximately $3,406 by 12:55 p.m. in the afternoon. Ether’s Bearish Sentiment Dominates Trading Day Amid ETF […] Source BitcoincryptoexchangeExchanges CryptoX Portal