Paradigm claimed the SEC is attempting to use the allegations in its complaint to alter the law without adhering to the established rulemaking process.
Binance Russia buyer tightlipped on owners, denies CZ involvement
Binance’s buyer in Russia, CommEx, has been developing its platform for six months and has onboarded some ex-Binance employees, the firm said.
Binance Russia buyer tightlipped on owners, denies CZ involvement
Binance’s buyer in Russia, CommEx, has been developing its platform for six months and has onboarded some ex-Binance employees, the firm said.
New US bill to require firms to report off-chain transactions to CFTC
The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occurring off-chain.
PayPal applies for NFT marketplace patent for on-chain or off-chain asset trading
PayPal’s proposed NFT purchase and transfer system would handle fractionalization, DAOs and royalties through a third-party provider.
Median Web3 developer salary stands at $128K in 2023
In a recent Pantera survey, less than 2% of respondents said they worked full-time in an office setting, with the rest working remotely.
Analyst Presents 4 Charts That Prove Crypto Is Not Dead
As the crypto market faces constant volatility challenges and regulatory pressures, major cryptocurrencies have experienced significant declines and slowed growth over the years. However, a new chart report has revealed that despite these downward trends, the crypto industry is still achieving new milestones in terms of adoption.
Chart Reveals Crypto Adoption On The Rise
The broader crypto market has been recovering at a snail’s pace since the crypto crash in 2021. Cryptocurrencies were at their peak during this time, and Bitcoin had the highest growth rate, reaching a price of over $60,000 while Ethereum’s price was around $4,000.
However, the upward trend was short-lived and the industry was hit with many challenges including regulatory hurdles that restricted its advancement into different regions and market forces which constantly caused instability in crypto prices.
Amid all this, DeFi Researcher, Thor Hartvigsen has presented in an X (formerly Twitter) post, chart reports that display the continuous growth in adoption of the crypto industry despite negative trends in the ecosystem.
Hartvigsen disclosed the four charts showed an increase in crypto adoption in the industry. One of the charts shows a spike in total daily wallets for users in the Ethereum and Layer 2 (L2) landscape which was previously in a bear market.
Another chart reveals a surge in traction in decentralized stablecoins which have been in decline since August 2022.
The third chart illustrates Ethereum’s growth rate over the years, surpassing $10 billion in revenue and promoting the emergence of innovative businesses in the crypto industry.
The last chart shows liquid staking at an all-time high, growing from $7.9 billion to more than $20 billion in 2023. This report also adds to recent data which revealed a spike in liquid staking platforms in the United States after hitting 370,000 Ether (ETH) in only five days and reaching a new milestone of $20 million staked ether.
Major Incentives Driving Growth Rates
The evolution of the crypto industry has been pushed back a couple of years following the Terra Luna crash which saw one of the largest stablecoins declining by 99%.
After the LUNA crash, the crypto industry suffered another loss from the FTX descent and insolvency. The industry has been under scrutiny by major regulatory authorities like the United States Securities and Exchange Commission (SEC).
There have also been multiple crypto scams, rug pulls, and cyber attacks over the years on major exchange platforms and marketplaces in the industry.
Presently, the crypto industry is slowly gaining back its strength and advancing rapidly, as seen in some major innovative developments like the integration of spot Bitcoin ETFs, and Ethereum spot ETFs.
The ecosystem is also thriving with new infrastructure upgrades and improvements in the DeFi ecosystem, ensuring the sustainability and longevity of the industry.
Former CEO of sham crypto miner IcomTech pleads guilty of wire fraud for Ponzi scheme
Former IcomTech head Marco Ochoa is the latest crypto fraudster to face charges, while the CFTC charged another company and its head.
Uniswap Foundation targets $62M in additional funding
The Foundation plans to issue $15 million per year in community grants to fund DeFi projects.
IBM, Microsoft, others form post-quantum cryptography coalition
The coalition includes Google sibling company SandboxAQ and the University of Waterloo.
Hashkey HK opens AVAX trading with $1M portfolio requirement
Only professional investors with a portfolio exceeding $1 million can invest in altcoins through regulated exchanges in Hong Kong.
Mixin Network offers $20M bug bounty to hackers in $200M hack
Mixin Network suffered a breach in its third-party cloud server database resulting in the theft of nearly $200 million worth of digital assets.
Gemini invests $24M for expansion in India
Launched in May, the Gemini Gurgaon Hub has since added over 70 staff.
Kraken secures money license registrations in Spain and Ireland
The move follows the crypto exchange’s successful VASP registration in Italy.
Taiwan bans unregistered foreign crypto exchanges from operating
Apart from local exchanges like Maicoin, major global crypto trading firms like Binance, ByBit and Kraken have also been serving customers in Taiwan.
Crypto bills could be delayed as many prepare for US gov’t shutdown
Bills focused on crypto regulation, market structure, and stablecoins could all be put on hold if U.S. lawmakers don’t reach a decision on government spending by Sept. 30.
$200M Mixin Network hack draws controversy
Xiaodong Feng, Mixin’s founder, immediately outlined a compensation plan but would only reimburse up to 50% of users’ assets for now.
Huobi Global hacked for $7.9M: Report
HTX crypto exchange has been hacked, but it claims to know the identity of the attacker.
MicroStrategy buys $147M worth of Bitcoin, now holds 158K BTC
MicroStrategy bought the latest Bitcoin stash at an average price of $27,053 per BTC, or 9% lower than the average purchase price of its entire BTC purchase.
Crypto sees outflows for 6th consecutive week, XRP and SOL gain investor confidence
A CoinShares crypto market flow report reveals that traders are more confident in XRP and Solana.