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PancakeSwap Developers Launch Proposal to Reduce CAKE Token Supply by 300 Million Tokens
28.12.2023
Adobe Stock / JorgeEduardo Decentralized exchange (DEX) PancakeSwap has introduced a proposal to significantly decrease the maximum supply of its native ecosystem token, CAKE. The developers seek to reduce the token supply from 750 million to 450 million, aiming to better align it with the current...
Korean Traders Drive Bitcoin SV (BSV) Surge, Price Soars by 65% in 24 Hrs
28.12.2023
Bitcoin SV (BSV), a cryptocurrency fork of Bitcoin, has experienced a notable surge of 65% within the past 24 hours, with Upbit, South Korea’s largest exchange, emerging as the focal point for trading activity. A significant 65% of the trading volume is concentrated on Upbit, underscoring...
Hong Kong Regulator Prepares to Approve In-Kind Spot Bitcoin ETFs
28.12.2023
Hong Kong’s financial regulator has published rules for spot bitcoin exchange-traded fund (ETF) issuers, allowing the use of both cash and in-kind creation models. This approach contrasts with the U.S. Securities and Exchange Commission (SEC), which insists on the exclusive use of the cash...
Japanese Crypto Newbies ‘Flock to Mercari, Rakuten Wallet’ – Survey
28.12.2023
Source: mehaniq41/Adobe First-time Japanese crypto investors are most likely to choose exchanges operated by Mercari and Rakuten, a new study has found. The survey was conducted by Mobile Marketing Data Labo, who asked 30,000 Japanese men and women aged between 20 and 69 about their crypto exchange...
Grayscale Adopts Cash Model for Spot Bitcoin ETF but Warns of ‘Adverse Consequences’
28.12.2023
Grayscale Investments has adopted the cash creation model, instead of the in-kind model, for its proposed spot bitcoin exchange-traded fund (ETF). However, the crypto asset manager warned of adverse consequences. “A spot commodity exchange-traded product that only employs cash creations...
Former SEC Official Warns Spot Bitcoin ETFs Will Create ‘Wall Street Fee-Sucking Scam of Epic Proportions’
28.12.2023
The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that spot bitcoin exchange-traded funds (ETFs) “will create yet another Wall Street fee-sucking investor scam of epic proportions.” In addition, he stressed that it will likely be the most...
Digital Asset Products Record $103 Million Inflows as Assets Under Management Maintains $52 Billion Position
28.12.2023
Source: Adobe / Luisa Cryptocurrency funds recorded $103 million inflows in the penultimate week of the year as institutional investors keep momentum toward a spot Bitcoin (BTC) ETF approval by the Securities and Exchange Commission (SEC). Recent data provided by CoinShares shows massive inflows...
South Korean Biz Exec Bailed as ‘Bithumb Market Manipulation’ Probe Continues
28.12.2023
Source: Global Image Archive/Adobe A South Korean court has released a media mogul and business executive on bail as a probe into market manipulation and insider trading at the crypto exchange Bithumb continues. The executive, Won Young-sik, is the former CEO of Chorokbaem Group, the parent firm...
Bitzlato Suspends Bitcoin Withdrawals Indefinitely After Founder Pleads Guilty to Unlicensed Money Transmitting
27.12.2023
Source: Pixabay Crypto exchange Bitzlazo has temporarily suspended the withdrawal of Bitcoins from its platform. In a Telegram post published on Wednesday, the Hong Kong-based crypto exchange announced that it had suspended special balance withdrawals and technical customer support as a “temporary...
Most Top Crypto Apps Track Users: Robinhood Most Data-Hungry, Binance Brings a Surprise
27.12.2023
Source: AdobeStock / tashatuvango Popular cybersecurity company Surfshark recently analyzed the 15 most popular crypto apps to find out how much data each collects. They found that nine of these use collected data to track their users. But it’s not just how much data is collected, but how it’s...
Solana’s Dex Platforms Eclipse Ethereum in Weekly Trade Volumes
27.12.2023
Recent statistics reveal that in the last week, decentralized exchange (dex) platforms built on Solana have surpassed Ethereum in market performance. Data indicates that Solana-based dex platforms achieved a volume of $1.447 billion in the past day, overshadowing the $1.282 billion recorded...
$2.2 Billion Illegal Forex Operation Busted by Chinese Authorities Using Crypto Platforms
27.12.2023
Source: Adobe / Alen Chinese authorities have reportedly dismantled an illegal underground banking operation that moved some $2.2 billion between China and other countries using overseas “virtual currency trading platforms.” On December 24, an account on social media app WeChat run...
Microstrategy Acquires More Bitcoin, Raising Total Holdings to 189,150 BTC
27.12.2023
Nasdaq-listed Microstrategy has bought 14,620 more bitcoin for approximately $615.7 million. The latest purchase raised the company’s cryptocurrency holdings to 189,150 bitcoin, acquired for about $5.9 billion at an average price of $31,168 per coin. Microstrategy’s executive...
Binance and the Royal Thai Police to fight digital asset frauds
27.12.2023
The adoption of digital assets is picking up. Regions only have the option to keep up with it. A crucial aspect is adapting to the dynamics of this transition. The Royal Thai Police have taken note of this aspect and announced their collaboration with Binance, a crypto exchange platform. Their...
Grayscale Submits Bitcoin ETF Filing with SEC to Adopt Cash Redemption Model
27.12.2023
Source: DALL·E Grayscale has submitted an updated filing to the Securities and Exchange Commission, paving the way for its GBTC to transition into a spot Bitcoin exchange-traded fund (ETF) with the adoption of a cash redemption model. According to Bloomberg Intelligence ETF research analyst James...
2023 in Review: The Year’s Most Impactful Crypto News Stories and Economic Trends
27.12.2023
2023 proved to be an extraordinary year for bitcoin and the broader crypto economy, surging significantly in value once the dust settled from the FTX debacle and as major players such as Blackrock and Franklin Templeton lodged applications for spot bitcoin exchange-traded funds (ETFs). Alongside...
Interview: 2023 Year-End Wrap With CoinDCX Co-Founder Neeraj Khandelwal
27.12.2023
Source: CoinDCX As we conclude 2023, a year marked by regulatory challenges and unprecedented growth, the cryptocurrency industry stands at the crossroads of uncertainty and promise. In an exclusive interview with India’s largest crypto exchange and the first crypto unicorn, CoinDCX’s...
Mt. Gox Creditors Report Double Payments in Settlement Funds; Exchange Seeks Remediation
27.12.2023
Source: AdobeStock / 24K-Production Mt. Gox, the once-dominant cryptocurrency exchange that famously collapsed in 2014, has recently encountered a new hurdle in its efforts to repay creditors. Reddit users are now reporting a payment error stemming from what the exchange describes as...
Spot BTC ETF Approval Will Encourage More Institutions to Invest in Bitcoin: Cathie Wood
27.12.2023
Source: Ark Invest Instagram In a recent interview with CNBC, Ark Invest CEO Cathie Wood expressed optimism regarding the approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Wood noted that the signs pointing to Bitcoin spot ETF approval...
SEC Sets Deadline for Spot Bitcoin ETF Applicants — 3 Days Left to Update Filings for Early January Decision
27.12.2023
The U.S. Securities and Exchange Commission (SEC) has reportedly set a deadline of Dec. 29 for spot bitcoin ETF applicants to finalize their filing amendments. According to reports, the SEC has told spot bitcoin ETF issuers that applications that are fully updated and filed by this Friday will...