Category: CryptoX News

Thailand introduces sandbox for testing crypto services

Thai financial regulators have officially launched a Digital Asset Regulatory Sandbox to promote broader crypto adoption in Thailand.  The sandbox allows participants to test crypto-related services under flexible regulation, with the goal of developing the Thailand digital asset capital market. The initiative follows a March resolution by the Thai SEC and a subsequent public hearing in May, where stakeholders supported the sandbox’s principles and proposed regulatory amendments. This project is important to crypto because Thailand has gradually introduced pro-crypto initiatives over the last few years. According to Statista, the country’s…

Polymarket’s Integrity Questioned Over Venezuelan Presidential Election Bet Outcome

Polymarket, a cryptocurrency-based prediction market, has declared Edmundo Gonzalez, the opposition candidate, the winner of the Venezuelan presidential election bet. The decision, made days after the election, ignores the official results announced by the National Electoral Council (CNE), which proclaimed Maduro as president amidst fraud allegations from opposition leaders. This prompted several users to question […] Source CryptoX Portal

Ethereum, Solana, and Rollblock are set to create many new crypto millionaires

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Investors are eyeing Solana and Ethereum, while Rollblock attracts record pre-sale interest and 200x gains. As the crypto market looks set for an incredibly strong finish to 2024, many investors are buying up established performers like Solana and Ethereum. At the same time, a new coin in the play-to-earn category, Rollblock (RBLK), is drawing in record investment to its pre-sale offering as experts predict massive gains of up to…

ADA picks up as whales fill bags with TRX and DTX for major gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Cardano (ADA) sees some relief on the charts after a continued struggle, meanwhile whales focus on Tron (TRX) and DTX Exchange to expand gains. Cardano (ADA) is finally showing some signs of relief through a spike on the daily charts, after a considerably low market performance. Cardano tumbled below forming new lows in 2024, but a recent rebound has occurred, and this is causing a jump in the Cardano…

Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000

In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested that […] Source CryptoX Portal

Web3 challenges lead Hong Kong official to push for virtual bank expansion

Hong Kong legislator Johnny Ng has called for an expansion of virtual bank services to address hurdles faced by web3 startups in the region. Hong Kong should embrace a more crypto-friendly approach by expanding virtual banking services as web3 startups face ongoing hurdles in accessing financial services, Johnny Ng, a member of the Legislative Council of Hong Kong, said in an X post on Aug. 9. 香港金融管理局早前發表虛擬銀行報告。我對於過去特區政府幾年支持銀行業服務升級和虛擬銀行發展表示讚賞，但同時我的團隊做了一個關於Web3公司對香港銀行服務的意見，調查表示，Web3公司出現開户難情況，導致不能有效地發展業務。因此，我今天記者會提出： 1.… pic.twitter.com/srDiDOhvwC — Johnny Ng 吴杰庄 (@Johnny_nkc) August 9, 2024 Ng emphasized the need for virtual banks to diversify their services and proposed…

Brazilian Regulator Approves Solana Spot ETF

The Brazilian securities regulator (CVM), equivalent to the U.S. SEC, has greenlighted the launch of a solana spot ETF for national markets. The product, the first of its kind to be approved, is offered by QR and managed by Vortx. It is already in its pre-trading stages. Brazilian SEC Pioneers Solana Spot ETF Approval Solana […] Source CryptoX Portal

US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery

A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of Enforcement, emphasized that this multibillion-dollar recovery is the largest recovery in CFTC history. FTX and Alameda Ordered […] Source CryptoX Portal

BlackRock seeks to launch options on Ethereum ETFs. What does this mean for the market?

Nasdaq and BlackRock, the world’s largest asset manager, are planning to start trading options on the spot Ethereum ETF. According to a filing posted on the U.S. Securities and Exchange Commission’s website, representatives of Nasdaq and BlackRock asked the regulator to allow trading options on the iShares Ethereum Trust ETF (ETHA), the only Ethereum-based ETF listed on the Nasdaq exchange. The published document proposes changing the rules for listing and trading options on the iShares Ethereum Trust. The exchange offers to expand the list of ETFs suitable for trading on the exchange in…