However, the bank remains somewhat cautious of crypto, at least publicly; back in July, HSBC-owned Hang Seng Bank, also in Hong Kong, said that while licensed crypto companies can open a bank account, they’ll only be able to get a “simple” one. Source
Qredo’s new toolkit comprises a number of elements, including Circle’s “cross-chain transfer protocol” for minting, redeeming, and transacting with USDC across multiple networks. This is combined with software from Etherspot, a specialist in making web3 transactions frictionless, and Qredo’s open source payment rails, dubbed QSign. Source
Seemingly unfazed by a recent slew of court setbacks, United States Securities and Exchange Commission Chair Gary Gensler remains headstrong that his agency should be the one to reign over crypto — with plans to tell lawmakers the same on Sept. 12. In the last two months, the securities regulator lost out to both Grayscale and Ripple — seen as a huge blow to the regulator. In his prepared testimony for the Senate Banking Committee hearing, however, Gensler will reiterate the view that crypto assets are in fact securities and should be…
Animoca Brands has been one of the leading investors in NFTs, blockchain gaming and metaverse-related companies in recent years, with backing from the likes of Singapore’s state investment fund, Temasek. Animoca’s aim is for Mocaverse to provide Web3-native tools for users to build gaming and other entertainment products. One such product under development is Moca ID, a non-fungible token (NFT) collection designed to allow users to craft on-chain identities in order to participate in the Mocaverse ecosystem. Source
The top crypto exchanges in the world are eating up a bigger and bigger share of the industry’s trading volume, new data suggests. Crypto insights firm Kaiko says in a new report that the eight biggest exchanges in the world account for over 91% of market depth and 89% of all volume. As it was several years ago, Binance still leads the pack. Says Kaiko, “Liquidity is concentrated and has become more concentrated over time. In 2023, the top exchange, Binance, has accounted for 30.7% of global market depth and…
In a recent series of tweets, Vetle Lunde, Senior Analyst at K33 Research, delved deep into the potential ramifications of the US Bitcoin (BTC) spot ETFs. Lunde’s analysis suggests that the broader market might be significantly underestimating the transformative power of these financial instruments. Lunde’s assertion is rooted in five core reasons. He began with a bold proclamation: “The market is wrong – and dramatically underestimates the impact of US BTC ETFs (and ETH futures-based ETFs).” Why The Market Is Wrong On Bitcoin Firstly, Lunde believes that the current climate…
The SEC filed suit in 2022 alleging the blockchain-based file-sharing network had violated federal securities laws with the sale of its native LBRY credits (LBC), which the firm maintained were not securities. A New Hampshire judge ruled in favor of the SEC in November and the final ruling was filed on July 11. Following the ruling, LBRY said it would shut down. Source
Blockchain-based file-sharing and payment network LBRY may be reversing course on an earlier decision to wind down, filing a notice of appeal against a federal judge ruling in July that sided with the Securities and Exchange Commission. On Sept. 7, LBRY filed a notice of appeal to the United States Court of Appeals for the First Circuit, seeking to appeal the final judgment entered on July 11, 2023, where LBRY was ordered to pay a civil penalty and barred from participating in unregistered offerings of crypto asset securities in the…
Binance co-founder and CEO Changpeng ‘CZ’ Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust, despite the recent market uncertainty. The Binance boss blamed negative news, rumors, bank runs, lawsuits, the closing of fiat channels, product wind-downs and employee turnovers for creating an environment of FUD (fear, uncertainty, doubt) in a Sept. 7 post on X (Twitter). Saw some debates in the community. When you do the right thing, and there is FUD, you don’t have to do anything. The community…
The Bitcoin non-profit, Btrust, co-founded by rapper Jay-Z and Block CEO Jack Dorsey, has acquired the Bitcoin talent company, Qala. Following this acquisition, Qala, an organization that provides training for African Bitcoin and Lightning engineers, has been rebranded as the Btrust Builders Program. According to reports on Sep. 6, the deal is a synergistic acquisition to advance Bitcoin development in Africa. While Btrust has the financial resources, it didn’t have the structure to develop the African Bitcoin talent pipeline. Today, we are thrilled to share a monumental story in our journey. We…